It's been a year already, and I'm summarizing some significant moments.
In November 2022, I started my Amazon business.
My first project was a knee brace.
Sports knee braces have gained popularity in the last decade, categorized mainly for medical use post-surgery and for sports support during daily activities.
My focus was on the sports support category. However, I realized my approach lacked innovation; I merely selected a design from the manufacturer's catalogue, added a logo, and hoped for profit. Unfortunately, many others had the same idea.
Competition on Amazon was intense. The knee brace category was saturated, and the cost-per-click (CPC) for keywords like "Knee brace" was high at $3 USD. Despite the high ad spending, the conversion rates (10%) didn't justify the expenses.
The initial excitement of seeing the product samples faded quickly. I realized it lacked innovation, design appeal, and pride. Eventually, after investing $30-40K USD, the best rank achieved was 80 in the catalogue. Then I stopped this project.
The lesson learned: Never engage in something that doesn't make you proud.
The pattern design lacks taste, no new material or structure was implemented. Indeed, there is nothing in this product I could be proud of; the whole product lacks spirit to me."
The Second Project was SteelRebound, a soccer rebounder.
This is a relatively new product that has likely entered the market only 3-4 years ago. There are two main types: the rebound board and the rebound net.
I believe the issue with the rebound board lies in its design—it's a plain black board lacking in aesthetic appeal, resembling a semi-finished product.
My plan was to enhance the product's appearance. I opted for stainless steel as an interesting material choice and added a metal plate atop the board. This not only altered the product's outlook but also improved its rebound performance, as verified through testing.
The sales have shown promise. However, my supplier informed me that someone has already begun to copy it. I'm not particularly concerned about this as I'm already planning the next set of products."
The 3rd Project was Flexband
This is a training kit for Hockey stickhandling use.
I believed that traditional stickhandling training aids in market were complex and expensive.
I thought that the usual way people use screws for fastening is complicate and not easily detachable or reset.
I thought that using adhesive tape for fastening is more convenient compared to screws, but disassembling is still quite complex, and it's not easy to create new training setups.
At first, I considered using custom-sized plastic components to secure the hockey stick and puck at both ends of the training aid. Initially, this didn't seem like an innovative idea, and if I wanted to be different from others, it would require mold-making, which can be costly.
After experimenting with various materials, I chose the silicone band. The advantage of this choice is that it's easy to install and detach at any time. Additionally, due to the good friction properties of silicone, the entire structure is stable and less prone to loosening. And thanks to its elasticity, the height could be adjusted as 2 or 3 pucks height.
So, I purchased products directly from a manufacturer, hired "a child laborer" (my daughter) to shoot and edit promotional videos, and paid her 7 dollars. I also wrote what I considered to be a professional product description through ChatGPT. "The child laborer" also helped me with the packaging.
So far, in the three months since this product was launched, I have sold less than 100 units. I want to thank every customer who supported my idea. I don't believe this product has great potential, but the process of creating it has been just very interesting.
The Fourth project is a HockeyRebounder.
This is set to become my most prized product. I've made numerous modifications and improvements in its structure and materials to simplify, compact, lighten, and lower its cost. My daughter's team is already using my prototype in their training sessions, and it will be ready very soon! This product encapsulates my year and is my highlight project.
In 2023, I'm working on dozens of projects—some are lackluster, some are decent, some make me proud, and some simply make me laugh. However, many ideas haven't materialized into actual products due to various reasons such as budget constraints. Even with only four projects realized this year, I don't consider it a bad outcome. I firmly believe that greatness comes from consistent accumulation year after year. I don't rely on any specific "strategy or commercial planning" as nobody can predict the future. What truly matters is enjoying what I do and persisting.
Regarding development costs, I'm investing less than 2K USD in total across all projects."