Please, introduce yourself and your business.
I'm Robin (male), in my mid-20s and my business is focused on developing, producing, homologating and selling aftermarket performance car parts. In my country it is illegal to modify your car without homologation.
We're not only doing that but we also homologate certain combinations so customers don't have to decide between an exhaust and an intake for example.
How did you start your business?
At 16, I started tinkering with my 2-stroke bike, which sparked my passion for automotive tuning. By 18, I had my first car, and at 19, I began doing tuning jobs on the side.
This led me to become a dealer in my country for a favorite brand of performance parts. At 21, I decided to take the leap and start developing my own. I dove in without looking too far ahead, focusing on one step at a time.
That approach got me where I am today, without being overwhelmed by the magnitude of the task.
How much revenue was your best year? (include margin if possible)
Before I started to develop my own parts, I really couldn't say. From 19-21, I had to pay for school, so I had a normal job three days a week, went to an IT school for another three days, and then on the seventh day, I did the side hustle and also worked on my own race car.
I made around $500-1k a day (keeping it in USD for simplicity), but since those parts weren't homologated, this wasn't sustainable as the country did not favor such businesses—even though they were legal. So, I never really did any marketing, which made it fluctuate a lot.
2023 was the first year I sold my own parts (three different products) and I made around $250k in revenue. The margin is hard to say.
My production method is very cheap per part, but the upfront costs are high, so it really depends on the number of sales. Upfront costs for homologation are around $40k and for production, it was around $60k per product.
Production is pretty cheap, resulting in a margin between 600-1000%. This method is great long-term, but, as I had to painfully realize, can kill your productivity in the short term as you'll have to wait half a year to get your upfront cost back to start the next project. By now, you could've guessed I've made $0 in profits as everything is reinvested into the next projects.
I also have my normal job, which gets me $100k a year, but investing over here can be deducted from taxes, even if it's earned income, so I also invested a big chunk (around 70k) of what I'm earning to help speed up everything.
This year we will bring 11 new projects to the market. By the end of the year, revenue should be in the low to mid 7-digits.
When did you notice traction when building your business? The “Oh S**t!” moment, what did that feel like?
we've had a lot of 'oh sh*t' moments. I can't really pinpoint just one. It did feel overwhelming, but it didn't last long for me.
I am still working 40 hours a week, and with selling over 300 products in 5 months, I was constantly on edge while developing new products.
There wasn't much time in my 16-hour workday, 7 days a week, to really celebrate.
What was your childhood like? Were you slinging candy on the playground?
I was raised by my mom and someone I called dad (though he wasn't genetically related) until I was 5.
Then they split up, and shortly after, we moved to another country to be with my mom's new boyfriend, whom I've considered my dad. From ages 6 to 11, my childhood was pretty good.
When I was 11, we moved again because the person I considered my dad died.
New place, new start—once again, in total, I've moved over 10 times in my life. I was bullied in school, got beaten, and slept with a knife under my pillow.
I guess you could say I was depressed (I never would've actually taken my life, but I certainly thought about it), and I didn't have any friends, so all I did was play video games (mostly online on the PC).
At some point, I exploded when being bullied by one kid and broke both his arms.
That's when my mom realized something was wrong—as I had blood dripping down my arm when I came home, and of course, the school noticed, so we moved again.
Long story short, from 13 to 18, life was pretty normal again. There were more things that happened, but that would take quite a while to explain. :)
What has been your best marketing marketing channel?
Instagram has been key for me. Since I'm in a niche with very little competition—mostly because few are willing to take on the upfront costs and risks of homologation—I haven't had to invest much in marketing. Word about our products mostly spread by itself.
How many attempts at building something did you make before you found what you’re working on now? Did you always have an entrepreneurial drive?
I think I tried around five different things until I got to where I am today. My mom used to tell me that as a kid, I never bought candy because I couldn't understand how someone could spend money on something that just disappears after being used.
I even used to say that I'd be rich someday, back when I was about 4. But until I turned 21, I didn't want to pursue that path as a 'career'.
What is your biggest overhead expense?
Apart from production and homologation, my expenses are minimal. I operate in three countries, with storage costs of $130 and $300 USD.
In the third country, I made a deal with an old friend from a Facebook group, who had an empty room. He runs the company there on a commission basis, like a freelancer, meaning there's no overhead.
I manage the operations in one country, and another friend I met on Facebook takes care of the last one. Given the rarity of our niche, people are enthusiastic just to contribute.
Our team totals six members; one earns a commission, while the rest volunteer their time. They do receive free products and other perks, but their main motivation is the joy of the process and a shared passion for keeping car culture alive.
I've set up and managed our webshop myself, thanks to my IT school background, at a cost of about $150 a year.
I can even use free CAD software, courtesy of my day job where CAD is regularly used. Keeping expenses low was a deliberate choice to reduce pressure.
What’s the most important skill you’ve learned?
My motto revolves around mental strength: 'The beautiful thing about the world is that no matter how bad you feel or what happens to you, the world doesn't give a sh*t. It keeps on turning.
So, you just have to wait it out and keep going like always.
So I guess it's to power through anything :)
What do you spend the majority of your time doing, in a given week? (I think a lot of people hear entrepreneurs “work,” but may not understand what that means on a day-to-day basis.
Chatting on WhatsApp often works for me, as production demands constant attention. I also outsource much of the work to freelancers in countries where labor is more affordable, making communication crucial. If you see me typing on my phone, I'm working.
Watching YouTube videos? Still working—researching solutions from other companies. My mind is always active, even when I'm eating dinner, I'm pondering solutions or brainstorming new ideas.
What do you know now that you wish you knew when first starting your business?
To partners who haven't yet earned your trust, it's wise to appear as if you're progressing more slowly than you actually are.
You can't be certain of their intentions, and if they're unaware of your true progress, they won't have the opportunity to sabotage you.
The world of entrepreneurship can be misleading. Many people think it’s always easy and always glamorous. What’s a big problem you’ve faced as a business owner and what were the emotions behind it?
I've nearly faced bankruptcy about six times. Initially, I struggled with a lack of funds, but somehow, I managed to gather the necessary resources. Then, a betrayal by a 'partner' cost me $20k and six months.
This led to my production company turning down my request due to their new, large order. After searching for a new company, COVID happened, leading to a price increase that cost me another $20k.
The new company failed to deliver and went out of business, resulting in a $40k loss. The list goes on. Each setback filled me with crippling fear, causing me to proceed very slowly because every step could be my last (for example realizing I wouldn't be able to get enough funds, which didn't end up happening). This only compounded my troubles.
However, these experiences taught me a vital lesson: I can survive anything, as I've already made it through these challenges. Even now I am under constant pressure but you get used to it and all of a sudden, having no pressure is boring.
Many people don’t know where to start in the business world, they feel stuck. They may want to start a business to become their own boss and create their hours. What is your best advice for someone who feels completely stuck?
You might not like hearing this, but it’s tough out there. Really tough. It demands all your energy, leading to mental stress, and yes, there will be tears. There's no secret formula. No book or interview will pave your way—only YOU can, with total focus. My advice is radical because I want you to succeed:
Relationships: If you have a girlfriend and she isn’t on board to work with you or see you only about 0.5 days a week, you'll face issues.
Environment: Move to a new apartment. Your work desk should only have essentials. Your PC? Only for work. No Netflix or YouTube distractions. If you’re in that chair, it’s time to work.
Materialism: Forget about new purchases. Need a phone? Find an old one (mine's 7 years old). Furniture? Not necessary, but if so, get used to it.
Expenses: Cut down to the bare minimum. The exceptions are a 2-room apartment for a dedicated office space to enhance productivity, and quality food to keep your body in top shape during challenging times.
Social Life: Friends will understand your mission if they’re true friends. No leisure gaming or partying.
Update them occasionally. Friends and family are free labor. But please remember to reward those who stick around and help you, when you've made it.
Stuck? Use 'Minnect' for affordable guidance. Aaron Mont was particularly helpful to me.
Employment: Don't quit your day job until your venture demands it. Work hard, then smarter. Your business needs to generate at least double your salary in profit to be viable.
This advice may seem suited for those already on their journey, but let me assure you, it is not. Seeking generic motivation won't change your situation. Change requires new inputs for different outputs.
Einstein famously remarked on the insanity of expecting different results from the same actions. You can't seriously think that, if you are so stuck you do not even know a direction to take - let alone the right direction, some generic advice will help you?
This is serious! You need a new perspective! Do you really think that after you've moved, potentially pissed off your girlfriend, told everyone you won't have time to do sh*t and cancel your Netflix you will just sit there and not go anywhere? You have to stress yourself out!
Stress is good! But be aware of pressure - which is stress where you can't take action to do anything about it.
At this point, failure isn’t an option anymore. You're simply in too deep. The whole world is watching! That's where you want to be. If you're serious, these steps are your starting line. See you on the other side, gentlemen!