James Olander is the designer, creator and genius engineer behind The Roost Stand. James created The Roost Stand as an ergonomic answer to working long hours from a laptop, because, as most entrepreneurs know, laptops were not created with the long-term effects on the user’s body in mind. Drawing on his engineering roots, James created The Roost, a super lightweight (at only 6ozs) answer to this painful problem.
On this episode, we discuss the mistake that James made that has made it impossible for him to utilize whole-selling and distribution opportunities to profitably grow his business. Listen in as James shares the lessons he learned and the steps he is currently still taking to correct them. Do not miss this episode!
Listen In Here:
During The Episode, We’ll Cover:
- Why James decided to not raise his prices to increase his margins.
- How James was able to use KickStarter to successfully launch The Roost.
- The health benefits of The Roost Stand.
- Why James’s margins dipped too low for him to have distributors.
What James Learned:
- You have to really know what your margins are and hold on to them so you are not limiting yourself.
- Plan ahead for enough margins so you can utilize distribution and whole-selling channels.
- Scrutinize the hell out of your margins and your margin assumptions.
Links & Resources:
- KickStarter – A great way to help with funding for new projects
- Tim Ferris
- Lockheed Martin
- oDesk – an online workplace for freelancers
What Did You Learn?
Use the comments section below to share what you learned from today’s episode, or how a similar experience has shaped your career.