Timeline — 2024-Q2

~162 posts. See [[../archive/pre-2025/_index]] for full text.

Key events this quarter

• 2024-04-03 — Dubai Investor VISA obtained
• 2024-04-03 — First repeat customer: ~$1.5k accessory order; also first sale of a new ~$1.5k product, opening a possible new income stream
• 2024-04-03 — Returning to Latvia after three weeks in Dubai; plans to come back Aug/Sep
• 2024-04-08 — First green week in the project
• 2024-04-10 — Revenue passes $700k milestone; first lemon (million) "around the corner"
• 2024-04-12 — Testing YouTube Shopping integration
• 2024-04-12 — Stocking up inventory: ~$130k in stock purchased; "It's not dropshipping anymore"
• 2024-04-12 — Idea floated: 14-day challenge to launch a new product from zero to profit (~$2.5k AOV)
• 2024-04-12 — Meta ad account flagged: "Sorry guys, we need to pause this business for ten years"
• 2024-04-22 — Revenue passes $800k
• 2024-04-24 — Meeting with investor who suggests building a competitor store under own portfolio to de-risk stock purchases; "This is how the big companies are operating"
• 2024-04-25 — Focus on customer experience (CX): "Dinosaurs do not care about their customer experience. CX is responsible for a fantastic brand. Fantastic brand = higher prices & lifetime values"
• 2024-04-29 — Approaching $1M revenue: "Fingers crossed, I believe that I will cross 1 million this week"
• 2024-04-29 — Hiring a product manager for the brand; goal is 5+ products in the same niche
• 2024-04-30 — Introduces the product tree framework: core product surrounded by branches of accessories to maximize AOV
• 2024-05-01 — Product tree strategy detailed: create tree first, then find suppliers, then buy stock; "always stay in one niche"
• 2024-05-05 — "It smells like a first million today"
• 2024-05-06 — Revenue hits $1M in 109 days; Q1 net profit margin at 15%
• 2024-05-09 — Searching for full-time Shopify CRO expert
• 2024-05-14 — BNPL (Buy Now Pay Later / Affirm) stops working; Shopify Payments already blocked, now Stripe blocked too — workaround had been sending Stripe payment links with BNPL option
• 2024-05-16 — Investor pitch strategy: show current growth, show opportunity, propose deal (%, investment amount, usage). "Ask 100+ people to get the right one"
• 2024-05-16 — Reframes fundraising: "Two main things — either you don't know how to print money yet, or you know but just need cash to print it"
• 2024-05-17 — The Drainist (email guru) suggests revenue-based financing platforms like Wayflyer
• 2024-05-18 — First investor offer received: 12% equity for $200k, implying ~$1.6M valuation. $10k bounty offered for investor referrals
• 2024-05-21 — Wayflyer requires 6 months of business history; not eligible yet. "Wayflyer is off the table"
• 2024-05-21 — Product manager hired
• 2024-05-23 — All funding companies require 6-month track record; investor search continues
• 2024-05-31 — "The only guarantee not to win is by giving up"
• 2024-05-31 — Personal: daughter Maija's kindergarten graduation
• 2024-06-03 — Discovering losses over the past month; investigating root cause
• 2024-06-03 — Payment processor (Stripe/Shopify) released held funds after 120 days
• 2024-06-04 — ~$100k on hold across payment processors; "Be ready, guys, if you're planning to grow fast!"
• 2024-06-04 — Massive mistake discovered: missed middle-class+ audience for two months, costing ~$100k
• 2024-06-06 — Revenue-based lending offer from Viably (runviably.com): potential $500k line, possibly eliminating need for equity investors. Credit: Reinis Sembergs for the idea
• 2024-06-07 — Vision articulated: build a Procter & Gamble-style company with multiple competing brands under one portfolio
• 2024-06-07 — Planning to launch a second online store and eventually reveal the main product publicly
• 2024-06-10 — AOV up 50%+ in 7 days after two changes
• 2024-06-13 — "The online store is never done. Your customer questions under ads, in the support chat, etc. — that's your real UX team"
• 2024-06-27 — Revenue crash: from $313k/mo down to $45k/mo. New products arriving; planning livestream to share lessons from the failure