I Developed A $100K/Month Trading Software
Note: This business is no longer running. It was started in 2019 and ended in 2023. Reason for closure: Acquired.
Hello! Who are you and what business did you start?
Hello, My name is Sina Sinry. I am an entrepreneur and I started an eCommerce business selling the best performing Forex robot. I have developed and sold thousands of forex robots and helped individuals and businesses to grow their figures to 5 to 6 times higher. I have started three companies in one year.
The products I sell make trading very easy by introducing automation in the life of a trader. All our designed tools save a lot of time for traders and predict the best time to sell and buy stocks. The beauty of eCommerce and dropshipping are endless opportunities. My monthly earning is more than $100,000 per month and continues to increase.
What's your backstory and how did you come up with the idea?
I was born in Iran and moved to Malaysia at the age of 17 to pursue a Bachelor's degree in International Business Management. After completing my degree I came back to Iran and started an import-export business of importing and exporting mining machines. It gave me a fair enough idea about eCommerce and dropshipping. I knew the potential and opportunities were there and I had to find the right product. The combination of technology and COVID brought me to a stage in 2019 when my friend told me about a best-selling product.
The idea of this product was unique because no one else was selling the product. I knew it because I did market research and also used keyword research tools like Ahref to analyze the search and top websites. However, I couldn’t find anyone selling the same product. I set up an eCommerce store and my first digital product was sold for $9 only. I still remember the excitement it gave me. I knew it was the right product because there is no manufacturing cost.
All I had to do was to develop the product at the first stage. E-commerce and selling digital products are different from other businesses because it requires only marketing. I don't have to worry about the suppliers delivering me the product or the headache of returning the damaged piece. I knew about forex before and my friend suggested to me a product that was performing well. We were having eyes on the product and it is where the idea came to my mind to develop a forex trading robot.
After the success of my first business, I launched my second business My EA Academy which increased my earnings to 6 figures. My third business is launching in early October 2021. I am always available and willing to help businesses and individuals who contact me from all over the world. Due to the high number of requests, I reply as much as I can on my email.
Take us through the process of designing, prototyping, and manufacturing your first product.
To sell my digital products, I developed my products by finding the best manufacturer. As it was a digital product, I took the help of professional developers to prepare the robots. The process of finding the developers was a tricky one as I went to platforms like Fiverr and Upwork to find the best talent.
I was looking for developers who had worked before on developing trading robots. I started working with a team of developers from freelancing platforms and gave them my directions and product specification. With the introduction of new programming languages, it is now more complex to develop these robots and it is completely based on machine learning.
Just to mention that my major was business administration and I had no programming experience. I told developers what exactly I wanted on the flowchart and they were good to go. I wanted to automate trading for forex users. You can say that I knew what I wanted but didn't know how to do it. Therefore, I teamed up with developers who designed these robots. The product has changed since then because I added new features which are hard to mention here.
After purchasing my domain, I used Shopify to design the interface of my store.
I registered my company in Malaysia and found my team for customer support. The cost of the startup was the development of the product, making a Shopify store, Shopify website, social media advertising cost, and additional taxes.
Describe the process of launching the business.
To launch my business, I developed a Shopify website to sell my digital products. Customers in the niche were already aware of the product I was going to sell. It is because I spent on marketing and my first digital product was sold for $9.
I knew Forex and the mindset of Forex traders and I knew that I can reach broader audiences by using Facebook Ads. So when the website was ready, Immediately, I started Facebook Ads campaigns to create more engagements.
I encountered many problems after launching the business such as payment gateways as the majority of the companies providing payment services are limited. Initially, I used Paypal and it was limited and used to hold payments every second week. It encouraged me to start looking for another payment gateway and now I am happy with Stripe.
The best thing about selling digital products is that you don't need a huge budget. I did not seek any crowdfunding and I learned that you don't need to be perfect and wait for the perfect moment and product to start. You can learn only by starting your business and you will see the revenue pretty soon. It is the problem with the people that they don't want to try. Therefore, I advise everyone to find the best selling product and sell it online.
Since launch, what has worked to attract and retain customers?
I have a firm belief in the Law of Attraction and the 10x rule before starting every business. Consistency and the right idea are key to growth. The majority of people fail because they are not consistent and their goals are not clear. My advice to all aspiring entrepreneurs is to strive for excellence and customer satisfaction.
I rely heavily on Facebook Ads to increase sales as I am spending 30% of my total sales on advertising. Almost everyone uses social media these days and therefore, social media platforms are the best when it comes to generating sales through ads.
To succeed in marketing, it is vital to understand the mindset of readers and create engaging posts that attract the audience. Also, audience selection is important, and to get the best results, use keywords that match the audience’s interests. In the beginning, the engagements will remain low but with time like 3 to 5 days, best results can be achieved,
Customer Satisfaction is my priority and my customers love the products. Once they are happy, they automatically come back and continue their subscription.
How are you doing today and what does the future look like?
I am doing great with monthly sales of $100,000 plus and I am working on business expansion by branching out to more sites.
Many people think that dropshipping and E-commerce are dead and won't work anymore in 2021. I believe the E-commerce industry will continue to boom in upcoming years.
I prefer digital products over physical products because of the headache of managing the inventory. Moreover, damaged products are also a big pain in the head and can affect customer satisfaction. In the future, I will continue to expand my business and mentor other entrepreneurs so they can grow their businesses.
Through starting the business, have you learned anything particularly helpful or advantageous?
I have learned a lot of new things in my journey towards success. I have read books and taken courses but I believe there is no success until we go out and start our business venture. Courses are the key to start and practical experience is more important. My followers hire me to help them with the practical stuff of starting their business.
Students think buying courses will make them successful but from my own experience, practice makes a man perfect. My job is to help students in dealing with the problems in E-commerce and provide them a platform and direction that flows them towards success. All in all, it is about practicing as experience is the best teacher of a man.
I also believe knowledge increases by teaching others. I do my best to help others and repeat the same mistakes as I did. I believe in the 10x rule as whenever I start a business I have the goal of 10x profit in my mind. I also teach the same to my students as I am already helping businesses and individual entrepreneurs to grow their business by five to six figures. I know it can be difficult at times but the ultimate goal should always be to help students.
What platform/tools do you use for your business?
I use a variety of tools for my businesses as it comes in handy and saves a lot of time. Also, tools help me and my business in interacting with customers and taking payments from them.
The tools that I use for my business are:
I use Slack to communicate with my team and Zapier for social media management.
What have been the most influential books, podcasts, or other resources?
The book that inspired me the most is The 10x Rule: The Only Difference Between Success and Failure By Grant Cardone. I have achieved my business goals with Law of Attraction and the mentorship of Grant Cardone. I spend a lot of time following the footsteps of successful entrepreneurs and listening to podcasts.
Advice for other entrepreneurs who want to get started or are just starting out?
My advice to all entrepreneurs and those who are ambitious to start a business is “Do not wait for the perfect product and perfect moment, just jump in and use your creativity and imagination to turn things in your favor.” You can only learn by practicing and starting your business. Yes, you will make mistakes but it will be a valuable experience.
There are millions of people doing E-commerce and most of them fail because of their poor product research and business plan. They don't have a clear vision and goal. Study and follow the law of attraction and make your financial goal ten times higher than what is in your mind.
Where can we go to learn more?
- Website
- myeaacademy
- sinryacademy
- Instagram @sinasinry
If you have any questions or comments, drop a comment below!
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