Hibermate

Take control of your sleep with fewer interruptions.

June 2015 Income Report

Posted by Chris Thomas on September 04, 2015. 0 Comments

June's figures have been pretty down!

The reality is that my business and product line is quite seasonal, so with many Americans heading into a summer holiday break, things tend to slow right down for June, July and to some extent, August each year.

We other big reason was that for about 2 weeks, we ran out of stock in Australia completely. We were taking 'pre-orders' but that doesn't really help much and conversion rates tend to fall away quite sharply. 

June 2015. 

June Amazon Sales: $8,496.75 (US Dollars)

June Website Sales: $13,544.32 (Australian Dollars)

June Total:                 $22,041.07 (a massive $4,918 drop from May's figures!)

 

Screenshots:

 

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May 2015 Income Report

Posted by Chris Thomas on July 29, 2015. 0 Comments

Chris Guthrie from a new podcast called Salesbacker interviewed me last week. I was in Australia on holiday with the kids for 3 weeks which meant I hadn't had much time to work on the blog. It's the middle of a very cold Melbourne winter and I was shivering all the way through! 

Chris was very curious about the income reports for the business and I realised I'd better start updating them!

Sales have continued to fall away on both the website and on Amazon compared to March and April and even as I write this, the trend is still declining which is a bit scary. Hopefully it's a seasonal thing and things will pick up again in the coming months.

We also experienced a situation where we ran out of certain colors on Amazon and for 3 weeks or so completely ran out...

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New shipment arrived in Australia this morning.

Posted by Chris Thomas on June 11, 2015. 0 Comments

This morning (Australian time) a new shipment of Hibermates arrived with my amazing, wonderful, inspiring friend and colleague Paula.

We had actually sold out of the last batch of 1,600 units delivered in January, so we're hoping we have about 12 months supply with the 3,600 units we received today (secretly, I'm hoping the don't last anywhere near that long).

We've been taking pre-orders for the last few weeks (our website sales slowed a quite a bit as a result) and Paula is very busy as I write, getting everything ready to ship to all the pre-order customers. There are well over 100 so she's really cranking along!

Here are some pics from the warehouse...

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The new edition 2016 Hibermate Sleep Mask with Ear Muffs progress report...

Posted by Chris Thomas on June 06, 2015. 6 Comments

Each year I'm going to try and update the Hibermate until it's as perfect as I can make it.

Innovate or die!!!!

It's definitely come a long way since the first wonky prototypes were put together prior to the Kickstarter Campaign.

The current 2015 model is by far and away the best, but there are still criticisms from some customers and I'm super-grateful to them for letting me know where we need to improve.

I use a public form of Eric Reiss' The Lean Start-up methodology (great book by the way, if you're into product development), the loose idea being that I take each negative review or email feedback, distill down to what the top issues are and prioritize.

It helps you focus on exactly what you need to do and it's definitely not rocket science.

If you look down through the negative Amazon...

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Amazon removed 60 of my reviews

Posted by Chris Thomas on June 05, 2015. 5 Comments

Short post today, super busy...

As I mentioned in my last Blog post, things are a bit rocky in terms of cash flow and sales.

That's ok, I'm confident we'll pull through.

For a while there, the silver lining on the whole, "Let's give away $45 grand worth of stock, oh, and lets also pay Amazon a couple of grand to fulfill the 697 free orders fiasco" was that many of the folks who scored a free product actually took the time to leave some quite nice reviews about it (about 60).

(There's always "one" dude though isn't there? Even after getting a free one he provided a 1 star rating.)

But anyway, what customers giveth, Amazon can taketh and over 60 reviews were taken down late last week.

I actually had my screen open on my product listing page from the day before, so I was able to capture...

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March and April income reports

Posted by Chris Thomas on June 01, 2015. 3 Comments

Well, after spending a few months licking my wounds from April's financial disaster I thought I'd spend some time reflecting on March which was actually one of the best months the company has ever had in business (I'll get to April in a minute).

We finally managed to get the new 2015 Hibermate from China to Hong Kong to 3 Amazon Fulfilment warehouses in the United States.

That essentially meant that from the 3rd of March 2015 we were in business on Amazon.

Having said that, the company has also spent over $100,000 US dollars on even more new stock over February and March (most of which is currently enroute to Australia - due June 8th we hope - and some is going to Amazon to replenish stock levels there).

In order to fund such a big production run, we had to go into about $40K debt and I...

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Amazon Promotions - I just cost my company USD $45,000 with one assumption.

Posted by Chris Thomas on April 09, 2015. 40 Comments

While I was out having dinner with some new friends here in Hong Kong last Thursday (the eve of Easter Friday 2015), I 'sold' $53,000 worth of my Hibermate sleep masks on Amazon.

When I got home very late, admittedly slightly inebriated after a big meal and a few 'reds' and feeling quite tired, I quickly checked my Amazon seller account before I went to bed.

What I saw nearly floored me. We'd pretty much sold $53,000 worth of stock in the 4 hours it took to have dinner...

Seriously?

I had a feeling in the pit of my stomach that something was wrong. This was totally, totally, totally not normal. My account had been selling maybe 10-12 units a day 'at best' up until now.

My mind began to race. Had Amazon suffered a glitch? Was my product somehow miraculously featured on a US morning show that had created some kind of insane...

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The fascinating world of sleep-related advice, research and weirdness.

Posted by Chris Thomas on March 25, 2015. 1 Comment

I spend quite a lot of time researching lots of things related to sleep.

I look at various products and services, crowdfunding campaigns & read books to see what the latest and greatest ideas are that try and help people sleep better.

Recently I started reading Tim Ferriss' 2nd book, "The 4 Hour Body" which has a whole chapter devoted to sleep entitled, "Engineering the Perfect Sleep". Tim has (or at least did have) chronic "onset insomnia", which is one of three known types of insomnia. 

  1. Onset Insomnia which is where you simply take far too long to fall asleep
  2. Middle Insomnia where you wake up regularly throughout the night and
  3. Terminal Insomnia which is when you wake up too early and find it almost impossible to get back to sleep (which happens to me quite often).

As is Tim's style,...

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February 2015 Income Report

Posted by Chris Thomas on March 06, 2015. 0 Comments

With February being a shorter month, income was down quite a bit compared to January. Seasonally, February is always slightly down compared to other months anyway as (I think), people have received their credit card bills from December (ie. Christmas) and tighten their belts a little.

Also, in the northern hemisphere, it's winter, it's dark and people don't really need a sleeping mask as much as they might during the "lighter months" of the year.

If you like, you can also view January's report herePlease feel free to add any comments/concerns or feedback below... or learn more about the business on my "About us" Page. You can also see the new Hibermate here.

Note that we have also begun selling Amazon and eBay this month (March). Sales have been modest on Amazon as we've really only been trading for a couple of days now (as I write this),...

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January 2015 Income Report

Posted by Chris Thomas on February 12, 2015. 0 Comments

In the last 6 months I've really gotten into Podcasts. 

Almost every day I take the time to walk home after dropping the kids off at school. It's about 5km's (3 miles) and it takes about an hour. It gives me the time to get some exercise and I can listen to podcasts about topics that I find interesting, such as how to build a better business and online marketing etc.

One of the people I admire the most online is a guy called Pat Flynn who runs the website www.smartpassiveincome.com.

I stumbled across Pat a few months ago after he was interviewed by Amy Porterfield in her Podcast, Online Marketing Made Easy

Having listened to Pat in the interview, I really admired his honesty and integrity and I began to also listen to his podcast, the Smart Passive Income Podcast.

At the time of writing,...

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