Patrick Sherwin, founder of GoSun, explains his bootstrapping timeline and when he began taking a regular wage.
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“I didn't pay myself until 2017. So it was about four years after the first launch.”
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More from Patrick Sherwin
Opinion
Most tiny houses on the market are inefficient and not environmentally green
“We were watching the tiny house trend just continue to ratchet up, but nobody was really addressing it from an efficiency standpoint. The houses are cute, but they're not very green. They use a ton of propane or electricity to stay warm and cool depending on t…”
Patrick SherwinDec 25, 2020▶ 12:23How GoSun Sold 50,000 Units, $4m Revenue, 250k Community, Software Next?
Insight
Successful Kickstarter campaigns require offering a 40% discount off MSRP
“The key to Kickstarter is that you want to provide like a 40% discount off of your intended MSRP.”
Patrick SherwinDec 25, 2020▶ 7:15How GoSun Sold 50,000 Units, $4m Revenue, 250k Community, Software Next?
Disclosure
GoSun accepts 10% margins on $100,000 tiny homes to drive solar adoption
“We're not going to have a great margin on the tiny home, you know, 10 or 15% on something that's a hundred grand, that's 10 grand great. But it's really about, you know, getting people into using our products and relating to our products in these different way…”
Patrick SherwinDec 25, 2020▶ 15:37How GoSun Sold 50,000 Units, $4m Revenue, 250k Community, Software Next?
“Well like off the top of my head, it's going to be somewhere around 80 bucks. And so we get, we try to push for margins, gross margins that are over 50%, somewhere around 60 on something like this.”
Patrick SherwinOct 2, 2021▶ 7:06Solar Power eCommerce Brand Hits $5m In Sales, 100,000 Customers, Software Next?
PredictionNot checkable as stated
GoSun projects passing 100,000 unique customers by end of 2021
“I think it's going to be over a hundred K.”
Patrick SherwinOct 2, 2021▶ 8:33Solar Power eCommerce Brand Hits $5m In Sales, 100,000 Customers, Software Next?
AssertionNot checkable as stated
GoSun achieves 70% gross margins on $15 portable flatware kits
“Actually it might be more like 70% because something like this, like we have such a volume on something like this tiny amount of plastic, amazing little, these are like four bucks and we charge like 15. So that's a healthy gross margin.”
Patrick SherwinOct 2, 2021▶ 9:53Solar Power eCommerce Brand Hits $5m In Sales, 100,000 Customers, Software Next?
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