Founding GoaltyLife: 5 Lessons Learned and 5 Accomplishments

Lessons Learned

  1. Desperate Times Call for Desperate Entrepreneurship

    I didn’t start GoaltyLife for fun or as a side project. I was a recent college grad and was struggling to find that elusive first job. I was stuck in a rut having applied to who knows how many jobs. I remember thinking to myself “screw all these people, if no one wants to hire me I’ll just make money on my own”. Easier said than done, but this was in large part how it started, out of frustration and resentment. Even if it turned out to be a bust I would at least have something to “add to my resume”.

    I built my first Goaltimate kit using PVC pipe from Home Depot, creating a 32-foot long arch. In order to support the arch in an upright position, I had to secure each end with two 30 pound buckets filled with sand. In total, the kit weighed 50+ pounds. It was a pain in the ass to transport. Goaltimate was incredibly fun to play though, which made lugging around the kit worth it. I came across someone online that was experimenting with tent pole style kits, the huge benefit of these kits was that they were compact and weighed significantly less than a traditional PVC kit.

    While researching the demand for Goaltimate kits, I stumbled across a poll in an Ultimate Frisbee Facebook group gauging interest in tent pole style kits. This poll response was surprisingly strong and enthusiastic, convincing me to take a stab at productizing a Goaltimate kit. So I got to work building a website, creating a brand, and designing a Goaltimate Kit.

  2. When Should You Take It Out Back and Shoot It?

    Coined by the one and only Mr. Wonderful from the TV series Shark Tank, “It’s a stupid idea, it’s going to zero, take it behind the barn and shoot it”. Considering how much time and effort goes into starting a business it’s incredibly difficult to give up on something that you have invested so much time into. By shutting down shop you are admitting failure, to make it worse there’s no way to hide it, everyone can see that you failed. So how do you know when it’s time to take it out back and shoot it?

    Mr. Wonderful would probably say, “you only have X dollars in sales after Y months, and your growth is Z percent. Time to call it quits”. I agree with this, for the most part, however, that threshold for X, Y, and Z that makes it worth it for someone to continue depends on their unique circumstances. If you’re single and have minimal expenses, then a small low maintenance operation pulling in $10,000 each year might be worth it, even if it is trending downward. You’ll have to weigh the amount of time required to maintain the business versus how much money it’s pulling in, and decide whether or not it is worth it for you. For example, GoaltyLife got to a point where I wanted to just let it coast, I felt like the market was saturated and I didn’t want to invest much more time into it. My heart wasn’t in it anymore.

    Why didn’t I just shut it down then? Well, I’m single and have minimal expenses. As long as GoaltyLife covered my living expenses it seemed worth keeping it up and running, after all, it occupied very little of my time. It gave me a lot of confidence and freedom knowing that if I quit my job or if I was laid off (especially now during Covid-19) that I would be able to keep myself afloat. With that said, of course, it’d be better if you were pulling in more money. But there’s nothing preventing you from starting something new while letting your past business fizzle out, siphoning the funds to a new endeavor.

  3. Consumer Behavior Is Weird, Follow the Data

    I originally priced my Basic Kit at $99.99 + shipping. Shipping cost varied depending on where you were located (typically between $20 to $30 dollars). I had some concerns charging for shipping, I assumed everyone was now accustomed to free Amazon Prime shipping, but I couldn’t eat the shipping costs at this price point. I was getting steady traffic to my site, but after analyzing click-through patterns using Google Analytics and other tracking measures it became fairly clear that people seemed to get hung up once they saw the shipping cost for their order. I decided to change the Basic Kit price to $124.99 + a flat $10 shipping fee regardless of where you were located. I had in fact raised the total price by an average of about $10 for everyone, however, shipping was now a flat fee, my hope was it would be less jarring for an average buyer.

    It could have been a fluke of timing, but I saw a reversal of the click-through patterns I previously saw. Orders started to steadily flow in at the new price point (even though it was more expensive). The rational decision would not have been to increase prices, yet the data I had was pointing me to make that decision. Consumers aren’t always rational, I’m glad I remained objective and followed what the data was trying to tell me. That counterintuitive move generated more sales and more revenue.

  4. Competition Never Stops

    I’m operating in a relatively small market, we’re talking a sub-niche of Ultimate Frisbee which is a niche in itself. Yet surprisingly there are a number of competitors. Since I started, one competitor has closed down, and two new competitors have appeared. The story surrounding the competitor that closed down could almost have its own blog post. Long story short they’re on trial for trafficking large amounts of drugs. Though I was actively taking market share from them the trafficking charge really sealed the deal, and for a while, I was the only seller of Goaltimate Kits in the world. Then two new competitors appeared. I’m still holding strong, due to being first to market and having a better product (in my humble opinion). Something I didn’t factor in was that because I’ve had an online storefront for a few years there’s a degree of trust I’ve built up that helps stave off new competitors. While its the easiest time to start a business in terms starting an online store, it’s also the hardest in terms of competition since the barrier to entry is so low.

  5. Build Your Company On An Immovable Motivator

    Something core to who you are as a person. This is really important and why my motivation fizzled out. I don’t care deeply about Ultimate Frisbee or Goaltimate. It’s something I loved at a time but I don’t truly care about it or its long term outlook. After all, I didn’t start GoaltyLife because I truly cared about the mission, I started it because I was unemployed and needed something to do. There’s nothing wrong with that, my experience has been invaluable and will pay dividends in the future. My next venture will have to be tied to something that I care about at my core in order to sustain that drive to outwork and outcompete everyone else.

Accomplishments

  1. From Concept to Sales

    I took an idea I had in my head, prototyped it, sourced and manufactured materials overseas, and created a finished product. Very few people can say they’ve done that and there’s a reason for that, it’s hard, filled with uncertainty and risk most people aren’t comfortable with. My products had healthy margins, steady lead generation and organic growth, which ultimately allowed me to edge out competitors. Over time I created a market large enough for a well-established company to try to take a piece of my pie, something I take as a compliment :)

  2. GoaltyLife Outreach

    GoaltyLife Kits can be found in 8 countries and 28 states in the United States. It’s a strange feeling showing up to play pickup Goaltimate in a new city and seeing they are playing on one of my GoaltyLife kits. This has happened to me a number of times and it never gets old, it’s also a quick way to get direct customer feedback without them knowing who you are.

  3. Impact On Health and Wellness

    At the time of me publishing this post, GoaltyLife has garnered ~72,000 hours of playing time and this number is growing as more and more people play the game. Besides this being a win for business, this is a win for improving people’s mental and physical health. It’s nice to know that I played a part in that.

  4. Top Performer on Shopify

    According to Shopify, I am in the top 20% of Shopify stores since starting in 2017. Not too bad.

  5. Added to Resume :)

    GoaltyLife was a big enough success where I felt confident adding it to my resume. GoaltyLife has been the focus of a number of interviews and has helped me land a role in a couple of startups.