1102
8 min 28 sec

The Battle of the New Zealand SpeedCubers

This Kiwi puzzlemaster wanted a way to pay for his travel fees to international competitions. He ended up with a monthly profit center and a lot of unused fidget spinners.
Dropshipping puzzles Reselling

Subscribe Now For A Free Five Step Tutorial

What It's About

A puzzle master makes all the right moves to sell his product.

Business Model
Reselling
Skills Required
Relationship Building & Marketing
Complexity
Low
Profit Potential
Medium

Words of Wisdom

Don't count out the power of relationship building. Hear what Oliver has to say about the subject, "Don’t be afraid to use your personal connections. Maybe your friend has graphic design skills or photography skills. You need to leverage these personal networks, especially during the startup phase."

Fun Fact

Oliver’s greatest marketing success was in partnering with one of his larger competitors. By taking on their brand recognition and trust for a small percentage of sales, he was able to increase his sales dramatically.

Notes from Chris

Episode 1102

Speedcubing is a little known (but much loved) sport that involves solving 3D puzzles. The common 3-by-3 Rubix Cube is one of these puzzles, but the sport gets far more complicated. You can try 5-by-5 cubes, additional magnetic challenges for advanced players, pyramids, 12-sided puzzles, and more.

Oliver Jenks, a high-school student and experienced puzzle solver in New Zealand, enjoyed competing in Speedcube competitions. He especially loved when he could save up enough money to travel to an event in another country and meet players from around the world.

After graduating from high school, Oliver realized that there was no dedicated Speedcube shop in New Zealand. Most people—including himself—ordered their cubes from a shop in Australia, the U.S., or China. With more time on his hands, it stuck out to him as a problem that he could solve.

He got together with another Speedcuber friend who’d done dropshipping. Learning the ropes from that friend, Oliver created a barebones Shopify store. The friend connected him with the name of a reputable cube manufacturer in China. When Oliver called them, they gave him a quote: $1,000 for an assortment of popular Speedcubes he could resell.

He knew it was a trusted manufacturer, and he believed the cubes he was eyeing were likely to sell. Now he just had to commit. He wired the $1,000—all the money he’d been able to save at his job—and started listing products on his store.

Within a few weeks, his products had arrived, and in July of 2016, Oliver launched Cubes4Kiwis.co.nz.

He set up at speedcubing events and weekend markets across the country, talking up his new products. People slowly started visiting the website—mostly people he’d met from these events. It took four weeks, but Cubes4Kiwis finally got its first online sale.

On a whim, he sent an email to Speedcube.com.au, the leading speedcubing store in Australia. The store was well known in New Zealand, and the most affordable place to shop for competitive cubes in the two countries.

Oliver told them he was a fan, and that he had a business proposition. The owner of the store agreed to meet, so Oliver hopped a flight to Melbourne.

When he left that meeting, he came out with a fresh vision of the future. He would disband Cubes4Kiwis and build SpeedCube.co.nz—taking on the brand name and brand recognition of his Australian counterpart.

He was essentially entering a fairly loose and flexible franchise agreement. He could ship product at lower prices through his partner, get bulk discounts, and benefit from their brand recognition and reputation. All he had to do was pay a percentage of sales back to that partner.

He switched the domain of his site and set up the SpeedCube branding. Thanks to his new ability to acquire more products at lower costs, he was able to lower prices, undercutting his new intra-island rival. That month, his sales doubled. Within a year, they had quadrupled.

In 2019, the Speedcube shop experienced 9% growth month over month on average—generating somewhere between $1,000-2,000 in profit each month. Oliver loves running the store, especially since he’s been able to use a small share of the profits to attend competitions all over the world—Uruguay, Bolivia, Peru, Malaysia, and elsewhere.

He’s solved the puzzle and is having a lot of fun.

 
  MENTIONED IN THIS EPISODE:

  • SpeedCube.co.nz: Learn more about Oliver and check out his full Speedcube lineup at his website.

SEE ALSO:

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

cg-sig-newsletter


Download 2020 episodes: JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG

Download 2019 episodes: JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC

Download 2018 episodes: JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC

Download 2017 episodes: JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC

Resources

RELIABLE WEBHOST FOR $5/MONTH

Want to build any kind of website for your hustle? If so, you'll need somewhere to host it! This is the reliable company I've used for my past 5 websites. It's cheap, flexible, and you can get support 24 hours a day.

Get your own hosting plan for just $5 a month!


Learn More

GET $625 IN FREE TRAVEL

Earn 50,000 travel rewards points (enough for 2 round-trip plane tickets or $625 in travel credit). You'll also earn 2x points on all travel and dining spend, with zero foreign transaction fees.

I use this card every day all over the world! ✈️


Learn More

Quote of the Day
"Don’t be afraid to use your personal connections. Maybe your friend has graphic design skills or photography skills. You need to leverage these personal networks, especially during the startup phase."
—Oliver Jenks #SideHustleSchool

Sponsors & Gratitude

Try ShipStation for 60 Days FREE!

Today’s episode of Side Hustle School is brought to you by ShipStation, the #1 choice of online sellers. 📦

To get a 30-day trial AND an additional month free, click the microphone at the top of their page and enter the word HUSTLE.


Get it Here

Like the Show? Leave a Rating!

Side Hustle School is for you! If you’re enjoying it, please take a quick moment to leave a rating or write a quick review. It's really easy and it makes a difference! ✅

It also makes a huge difference when you tell your friends about the show. Remember, it's 100% free and listener-supported.


Here's How

Keep in Touch

There’s a new story every single day on Side Hustle School. Episodes are produced to be short and to the point—I know you’re busy. Be sure you subscribe to get instant notification of the day’s broadcast!





To infinity and beyond,

Chris Guillebeau