It’s all about creating generational wealth for our family. We want other people to feel expanded by us.
Alexandra & Aidan’s 8fig journey
Thinking in terms of limitless possibility, rather than scarcity, can propel online sellers to exponential growth. Just ask Alexandra and Aidan, a young couple raising their daughter on Australia’s dreamy shores. They set out to build a successful Amazon brand believing they couldn’t fail, and have since achieved 6-figure sales and a lifestyle full of freedom.
“Energetic growth is really important to us and a big part of our lives, and we definitely translate that into our business and our brand,” Alex said.
To us, the greatest form of wealth is having freedom of choice and what you get to do with your time. So for us to have created this lifestyle feels like the biggest accomplishment of all.
Just two years ago, Alex and Aidan were bootstrapping their business as they searched for a product that felt right. These dats, they’re 6-figure sellers committed to developing and selling meditation products. Here is their 8fig story.
How an abundance mentality led to investments in marketing, growth
Once Alex and Aidan found a meditation product line they felt connected to, they made aggressive moves to scale. Believing that they couldn’t fail, Alex and Aidan took big risks, like investing in an Amazon marketing strategy that would ultimately propel the store to new heights.
“If you want to be an entrepreneur, you need to have a growth mindset. There’s going to be issues that come up but there’s also going to be great times as well,” Aidan explained. “Your heart, your head, and your soul are in it together.”
Thinking in abundance paid off, and business started booming. Then the stockouts hit.
“We grew rapidly in our first year on Amazon. The champagne problem we faced was buying the inventory we needed to sustain demand, let alone growth,” said Alex.
Stockouts are a direct hit on profitability and a blow to healthy cash flow. Plus, Amazon search rankings are negatively impacted and customers make purchases from competitors instead. It can be a vicious cycle.
We knew we weren’t going to be able to scale to multi-6 or 7 figures with our own capital.
“We kept putting money in and we got to $70,000 and thought, okay, this is starting to get a bit stretched,” Aidan explained.
Deciding to look for outside solutions to grow a budding Amazon brand is not easy or risk-free. But after putting in $70,000 of their own money and opening every credit line imaginable, including through parents and siblings, the duo knew they needed a growth partner to keep up with current demand and scale their business.
Scaling Amazon sales x7 with 8fig, planning for multi-7 figures in 2022
8fig’s funding strategy is a brand new model, designed specifically for high-growth eCommerce entrepreneurs. After Alex and Aidan built and activated an 8fig Growth Plan, scaling was no longer an obstacle for them. The continuous capital, aligned to every stage of their supply chain, eliminated the stockouts between inventory orders.
“As soon as we started receiving consistent cash flow from 8fig, it was growth, growth, growth,” Alex shared. “All of a sudden, we were doing 40K one month, then 50K the next month, and 60K the following month. This revenue just became normal for us.”
In 2020 and without a growth partner, Alex and Aiden generated $96,000 in revenue. With a growth partner in 2021, they generated $709,300 in revenue, a 639% increase year over year.
“Our 8fig Growth Plan has allowed us to buy inventory on a quarterly basis. This brings our costs down, impacting our bottom line directly,” said Alex. “Most importantly, we NEVER have to worry about running out of stock again, which means we can continue to build momentum and expand the breadth of our product assortment.”
Now that cash is no longer a barrier, Alex and Aidan are focused on doubling their product assortment and opening a Shopify store in 2022. With all this momentum, they have their sights set on a multi-7 figure year of profit.
Instead of stressing about cash, we can focus on our products.
Finding an alternative, and fulfilling, path to wealth
Alex and Aidan set out to find a different way to build wealth that didn’t involve corporate ladders and boardrooms. With their Amazon success, they’ve been able to achieve their goals and build a life focused on independence and fulfillment instead.
“This business model has given our family so much freedom,” Alex explained. “And the reality of scaling a business quickly is that the financial freedom comes later. It’s been time freedom first, which has then led to financial freedom.”
These days, Alex and Aidan are strong 6-figures sellers with multi-7 figures in their sights. 8fig funding has allowed them to invest in other areas of their business, so they expanded their product offerings and launched a Shopify store in 2022.
eCommerce success allows Alex, Aidan, and their daughter to live a full and dynamic life on their own terms. They travel year round, bounce back and forth visiting their families in the US in Australia, and spend time helping other eCommerce entrepreneurs and young mothers achieve similar results.
8fig is a funding solution designed specifically to address the supply chain challenges eCommerce sellers face. Using our AI-based financial management tools, we analyze sales to forecast the future potential.
If you are struggling with maintaining cash flow to fund and scale your inventory, sign up for a Growth Plan today to get a free funding offer.