Episodes
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Are you sure how to streamline and systemize your Amazon FBA businesses to earn more and work less? In this episode, Michal Specian joins us to discuss his journey from launching his Amazon business, growing it to an eight-figure business with only a small team, and successfully selling the business. He shares his strategies for product development, product launches, optimizing listings, building teams, and systemizing businesses for successful exits. Michal offers practical tips on how to stand out from other sellers and breaks down the process of selling the business - from finding potential buyers to negotiating the deal. Tune into this episode for insight into successful Amazon brand-building!
Michal spent 4 years managing and growing an Amazon FBA Business to 8 figures. Years of process development and optimization allowed them to reach 8 figures with a small team of 2 full-time employees. Their brand was successfully acquired by an aggregator. Michal has recently launched his YouTube Channel, where he shows Amazon Sellers how to transition from Operators to Owners by systemizing their businesses and building teams.
Key Highlights:
[00:01 - 07:29] Growing Your Amazon FBA Business
How Michal managed and grew an Amazon FBA business to eight figures with just a small team How the brand was successfully acquired by an aggregator How to systemize your business to focus on the business instead of in the business Michal's strategy for product development[07:30 - 14:36] Gaining Detachment and Analyzing Data
How to analyze existing keywords to identify customer avatars and create variations of a product Utilizing scientific method to differentiate a product from competitors Make sure to gather data to understand customer avatars and what works for them Why you should keep it simple with a small team[14:37 - 21:54] Navigating the Exit Process
How to sell your business at the right time and get the best offer What you should consider when looking for a buyer Successful businesses come from consistent action in the right direction Simplicity is key- Resist the temptation of trying too many tactics Focus on understanding existing assets and constraints and figure out how to get where you want to go[21:55 - 29:17] Increase Bottom Line and Overcome Internal Bottlenecks
Focus on customer and product Action steps to get to know the customer avatar better Understand where they are, talk to them, and find patterns Listing optimization and launching process strategies How to implement systems, build teams, delegate tasks, and create strategies[29:18 - 38:54] Closing Segment
Strategies for delegation and building the internal structure Advice for sellers who are stuck Michal on the rapid-four questionsConnect with Michal:
Michal Specian (YouTube)
Michal Specian (Twitter)
Key Quotes:
"The key to consistency is simplicity." - Michal Specian
"The objective is not just to differentiate the product, the objective is to make it better." - Michal Specian
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you ready to crack the code on hiring and scaling your business with virtual assistants? From his experience of selling textbooks in college to building an army of VAs to run his business, Nathan shares his expert advice on outsourcing and delegating to grow a business. He discusses the importance of hiring the right people, setting expectations with potential hires, investing in training, and motivating people long-term. You will gain insight into the value of delegating properly, the three types of people essential to a successful business, the common mistakes entrepreneurs make when delegating tasks, and much more. Listen and enjoy!
Nathan Hirsch is an entrepreneur and expert in remote hiring and eCommerce. He is the co-founder and CEO of FreeeUp.com, a marketplace that connects businesses with pre-vetted freelancers in eCommerce, digital marketing, and much more. He has sold over $30 million online and regularly appears on leading business podcasts, such as Entrepreneur on Fire, and speaks at live events about online hiring tactics.
Key Highlights:
[00:01 - 05:45] How to Solve Your Hiring Problems
• How Nathan built an army of VAs to help run his Amazon business
Building Free Up and Outsource School• The difference between success and failure
Mastering outsourcing and hiring the right team[05:46 - 16:32] Mastering the Art of Delegation
• How to hire the right people and build trust
Entrepreneurs need to surround themselves with followers, doers, and experts• Common mistakes entrepreneurs make when hiring
Not focusing on attitude and communication in addition to experience• Why investing time, energy, and money into training someone is important for keeping them around long term
[16:33 - 27:04] Mastering the Art of E-Commerce
• Why setting expectations is key to successful delegation
Make sure to start with the easiest task that doesn't affect your business negatively• How bookkeeping is a key part of e-commerce businesses
Bookkeepers need to understand the top line of Amazon, Shopify, etc.• Growing real brands is important rather than "get rich quick" strategies
[27:05 - 30:17] Wrapping Up!
• The key to success in eCommerce in 2023
• Nathan on the four rapid questions
Connect with Nathan:
Nathan Hirsch (LinkedIn)
Outsource School (Website)
Key Quotes:
"Hiring is the difference between success and failure." - Nathan Hirsch
"You have to be able to surround yourself with other people that can help you get things done." - Nathan Hirsch
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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What do you need to focus on to still be successful on Amazon? In this conversation, Eytan Wiener explores his successful business model of bundling products and selling them on Amazon to help achieve maximum value for the eventual sale of his company. He discusses the importance of having a passion for one’s business and its industry, investing time and money into making quality products, and diversifying across channels to create a more sustainable and valuable business model. Eytan talks about the significance of delegation and objective decision-making for entrepreneurs to be successful. Tune into this episode full of insight from one of the leading voices in the eCommerce space today!
Eytan Wiener was the Chief Operating Officer and Co-founder of Quantum Networks, and the co-founded the Prosper Show. For more than a decade, Mr. Wiener has created an industry-wide awareness of the discrepancies that occur during the lifecycle of inventory sent by sellers to Amazon’s fulfillment centers. Wiener utilized GETIDA and discovered that they made the deepest impact in maximizing financial recovery for his company. GETIDA’s solution significantly affected his company’s bottom-line profit, thereby increasing the total value of the sale price, and contributing to Wiener’s successful exit.
Key Highlights:
[00:01 - 13:02] Maximizing Your Business Value for the Ideal Exit
• Eyran shares his background and work
The co-founder of Quantum Networks and the Prosper Show• The early days of Amazon and how to be successful on Amazon
• Why you should bundle products and offer exclusivity on Amazon
[13:03 - 26:02] The Key to Success in the Amazon Ecosystem
• You need to invest time, money, and effort into making something better
Make sure all the pillars of a successful business are mastered• Developing a passion for the industry is important for success
Leaders behind a brand are key to reaching its full potential• Omnichannel is important for diversification and sustainability
[26:03 - 38:50] Tips on Delegation and Growing a Business Through Objective Decision-Making
• Entrepreneurs should make decisions objectively to maximize resources and achieve desired outcomes
CEOs should focus on high-level planning and delegate tasks to those more knowledgeable in the area• The benefits of attending live events
Networking at live events is important to learn from others and build relationships• Finding the right people and getting everyone to get along is key to successful companies
[38:51 - 50:54] Wrapping Up
• Stay up to date on the latest changes
• Eytan on the rapid-four questions
Connect with Eytan:
Eytan Wiener (LinkedIn)
GETIDA (Website)
Eytan Wiener (Facebook)
Key Quotes:
"You could make a product and sell it, you need to have good content, you need to have good photos, but it's not as difficult as in the olden days." - Eytan Wiener
"You could be in a business that you have zero passion, but you're never going to reach your full potential if you don't develop a passion." - Eytan Wiener
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Is there a way to gain more impressions and increase conversions on Amazon using posts? In this episode, Norman Farrar touches on the importance of building a brand and how you can develop a perceived value for your products. He digs into product development, how to optimize your listing, and how to utilize all the different tools Amazon provides in order to build a stronger brand. Norman breaks down the story behind the 'Beard Guy' name and how he helps other entrepreneurs become influencers on Amazon by infusing personality into a brand. Tune in now to hear this inspiring story and helpful tips on how you can succeed in the e-commerce space!
Norman Farrar is an entrepreneur who provides online marketing and managed eCommerce solutions for brands. He has worked with Fortune 500 companies such as Coca-Cola, Mercedes-Benz, and 20th Century Fox. Since the early 1990s, Norman has focused on helping entrepreneurs optimize their operations and unlock their business’s potential. Presently, he is the host of the popular Amazon podcast, Lunch with Norm.
Key Highlights:
[00:01 - 16:09] Expert in E-Commerce and Amazon Brand Building
• Norman's background and expertise in the eCommerce space
Providing online marketing and managed e-commerce solutions for brands• How to forge relationships with buyers and reach specialty stores
Norman's advice for reaching potential retailers• Why you should focus on building authority to increase trust and sales
[16:10 - 31:46] Building Your Brand and Understanding the Numbers
• Retailers have different requirements and expectations when it comes to inventory and packaging
Retail-ready packaging is essential for making a good first impression on buyers• How Amazon has changed significantly over the years
It requires more focus on brand building, PPC, understanding numbers, and driving traffic to websites• How to differentiate your product development and increase the perceived value
Differentiate through packaging, customer experience, and branding[31:47 - 48:12] Product Innovation, Keyword Research & Internal Tools
• Do a competitive analysis of 10-16 competitors
Ask the manufacturer for product improvement ideas• How creating demo videos with benefits/features can make a huge difference
• Utilize Amazon's internal tools (managed product documents, listing optimization)
• Unlock growth opportunities with Amazon posts, A+ content, and optimization strategies
How Amazon posts can increase the conversion rate from 20% to over 30%[48:13 - 55:02] Closing Segment
• How Norman went from zero to a hundred thousand followers in a year
• Norman on the rapid four questions
Connect with Norman:
Norman Farrar (LinkedIn)
Norm Farrar (Instagram)
Lunch with Norm (Website)
Key Quotes:
"If you're not the authority if you don't have trust you won't get the sales." - Norman Farrar
"Never turn down an opportunity." - Norman Farrar
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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What if you could actually create a content machine outside of Amazon that will bring you traffic all day long? Aside from a great strategy to capture attention, content is something to immortalize who you are on planet earth. In this episode, Manuel Suárez digs dive into how content creation outside of Amazon can be used to create a legacy and leave something behind that will last much longer than any business. He points out how wide to go with different media platforms, how to develop proper content, and how to narrow your focus to ensure that you're serving a certain customer base. Tune in to learn the secrets behind building an e-commerce or Amazon brand that will stand the test of time. Listen and enjoy!
Manuel Suarez is the founder and CEO of Attention Grabbing Media. A two-time Inc 5000 award-winning digital marketing agency in Largo, FL. He is also the co-founder of NaturalSlim USA. An e-commerce brand that provides supplements and education on metabolism, weight loss, and health to the Latin American community. After declaring bankruptcy around 2010, Manuel found his initial entrepreneurial success by building and exiting an Amazon private-label bed sheet brand. From there he helped his father take his own company from two million dollars in revenue on the little island of Puerto Rico to over forty million dollars in eight countries, in the span of only four years.
Key Highlights:
[00:01 - 14:48] From Bankruptcy to Building a Successful E-Commerce Brand
• Manuel's journey in the eCommerce space
Founder and CEO of Attention Grabbing Media and co-founder of Natural Slims USA• How Manuel found success building and exiting an Amazon private-label
• How to create a content machine outside of Amazon to bring traffic all day long
The incredible journey of Natural Slim and the power of visionary entrepreneurship[14:49 - 30:06] Building a Legacy Through Content Strategy
• How to create quality content and capture the attention
Why content strategy is a way to build a legacy Actionable tips for implementation of content strategy• Navigating the balance between quantity and quality for brand building
It is important to have consistency in your content, but also ensure it is of good quality• Why building a brand on social media without a personal brand is difficult
[30:07 - 52:20] Commitment, Quality, and Quantity:
• The keys to building an attention-grabbing content strategy
Commitment, quality, and quantity• How to leverage opportunities given by technology to reach the world
• Why hiring people remotely is an underutilized opportunity in today's environment
People in other parts of the world are educated to work with companies in the US• Amazon is still a great starting point for brands
[52:21 - 59:50] Wrapping Up!
• How his commitment to impacting people led him to success
• Manuel on the rapid four questions
Connect with Manuel:
Manuel Suárez (YouTube)
Attention Grabbing Media (Website)
Manuel Suárez (Instagram)
Key Quotes:
"You're a hundred percent made by the value that you've gotten from other people." - Manuel Suárez
"A faceless brand cannot impact today at the scale that a personal brand can impact or at the speed that a personal brand can impact." - Manuel Suárez
"Resources are available, but they're limited only to those people that decide to look for opportunities." - Manuel Suárez
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Curious about how to best do business with Amazon and what to do if something goes wrong? In this episode, Stan Friedlander digs deep into the culture inside Amazon, how Amazon is growing its own categories, and how Amazon really looks at large private-label sellers. He also discloses the acquisition between Zappos and Amazon and how that really reflected in the internal culture. Stan points out why Amazon is still the dominant player in e-commerce and encourages sellers to diversify their interests by selling on more than one platform. Listen and enjoy!
Stan Friedlander was chief merchant/gm of multiple categories for Amazon in both US and Japan for 10+ years, including all apparel, footwear, jewelry, watches, handbags, sunglasses, luggage, and costumes. He had full p&l responsibility over first and third-party marketplace sales and expenses for these categories, including all customer experience, marketing, shipping, and personnel expenses. His teams ranged in size from 100+ and oversaw revenues of $3.5B+, and he was responsible for launching luggage, kids apparel, and costume categories for Amazon in the US. My first role at Amazon was leading a team of six with revenues under $25M, so I was responsible for leading teams through colossal growth and innovation expansions.
Key Highlights:
[00:01 - 08:01] Tips for Building a Successful E-Commerce Business
• Stan shares his background at Amazon, most notably as the chief merchant officer for multiple categories.
His experience moving to Japan and his expertise in Amazon culture Working with Zappos, and his current work as an independent consultant• Stan's insights about Amazon and its growth
[08:02 - 30:48] How Zappos and Amazon Stay Separate
• The cultural differences and similarities between Zappos and Amazon
• How Zappos still does a significant amount of business on Amazon as a third-party seller
• Sellers should be careful not to overbuild their businesses
How could this lead to them being undercut by Amazon?• Stan's outlook on Amazon's announcement of cutting back on its private label operations
[30:49 - 52:40] Is it Time to Diversify Your Interests?
• How Amazon will still be the dominant player in ecommerce for the next few years
Increasing their chances of success• Businesses should diversify their interests by selling on more than one marketplace
• How to build a brand on Amazon
Differentiating your product on Amazon can be difficult, but it is important[52:41 - 59:37] Wrapping Up!
• What to do if you have issues with an Amazon listing
• Amazon has become more automated in its responses, and it may be quicker to respond if you file a case.
• Stan on the rapid-four questions
Connect Stan:
Stan Friedlander (LinkedIn)
[email protected] (Email)
Key Quotes:
"You can build something on product-based search, but at some point, you better start recognizing when the customer starts recognizing this brand." - Stan Friedlander
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you ready to grow your brands and dominate on Amazon? In this episode, Jon Elder shares how he was able to build five brands and exit them successfully. He navigates into what has changed in the Amazon space, the importance of product development, and how to really be authentic on social media. John's advice for new Amazon sellers is to avoid making the same mistakes that he did, learn as much as possible about the market and product, and use that information to pivot into a thriving business. Listen and enjoy!
Jon currently runs Black Label Advisor, an Amazon consultancy focused solely on helping sellers and brand owners expand their reach on the platform and grow their businesses. Clients come to Jon from all over the world for advice ranging from listing audits to solving logistical issues. If your business needs an extra set of eyes on your business, Black Label Advisor delivers.
Key Highlights:
[00:01 - 07:11] Jon Elder's Shares Story on Amazon and E-Commerce
• Jon's background and what led to him launching his first Amazon brand
His five successful Amazon brands How he became involved in the space, his successes and failures in product launches• Focus on product research, product development, and avoiding failures
[07:12 - 21:38] What You Need to Succeed on Amazon in a Different Era
• The main places where things have changed for Amazon sellers
The quality of media assets, the need for professional studios, and real models• Talk about how the brand started and give something for people to buy into
• Sellers are going deeper in terms of what they're innovating
Make it an incredible experience for the consumer[21:39 - 36:21] How to Launch a Product on Amazon for Maximum Success
• What sellers should aim for when launching a new product
Being cheaper than the competition, ramp up sales quickly and use their email list to promote the launch• Launch products with a long-term outlook and a target price that is fair to both the product and the seller
• How to determine if a product is successful
Look at units sold and whether or not the product is slowly chipping away at the pie in terms of revenue[36:22 - 47:59] Wrapping Up!
• How to master social media for building more connections and relationships
• Why diversification is important for success
• Jon on the rapid-fire questions
Connect with Jon:
Jon Elder (LinkedIn)
Black Level Advisor (Website)
Key Quotes:
"If you educate yourself and you do the proper research, your rate of success on Amazon is going to be extremely high." - Jon Elder
"Go into micro-niches, find the next Nike product, and think bigger than Amazon." - Jon Elder
"Being genuine with your thoughts and your beliefs is just crucial for building out social media." - Jon Elder
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you weighed down by the time and stress of making a product? In this episode, Henrik Johanson, the CEO of Gembah, shares what has changed in product development and what elements people should take into account to get it to markets properly. He provides great advice for people who are trying to develop a new product and points out why it's important to have a clear vision and work with factories that can create the product according to their vision. Henrik and Meny disclose some of the trends they are seeing in the marketplace, the current state of product innovation, the shift towards manufacturing overseas, and much more. Listen and enjoy!
Henrik not only co-founded and leads Gembah, but he is a former CEO and co-founder of several venture startups, most recently Boundless, a $100M promotional products company and platform. When he isn’t focusing on building Gembah, you can find him trail running or eating Mexican food.
Key Highlights:
[00:01 - 05:56] Democratizing Product Innovation
• Henrik shares his background and work
How he came up with the idea of creating Gembah, a company that democratizes product innovation• What has changed about product development
• How entrepreneurs can create products that have a real impact on the world
[05:57 - 17:13] Bring the Right Product to Market
• Why Amazon sellers need to be aware of the changing product development landscape
• Meny's experience learning more about the country's supply chain and factory systems
The reason why so many products fail in their journey from conception to sale• How Gembah helps you find the right designer for your product
• How to validate an idea for a business before starting it
[17:14 - 28:50] When It's Time to Sell Your Amazon E-Commerce Business
• The key to success in the Amazon and e-commerce aggregated space
Developing a defensible product line that can be sold to the same customer over time• Henrik's outlook on developing new products vs tweaking existing ones
Where is the level of creativity of entrepreneurs?• The current state of product innovation, and why it takes more money to innovate on Amazon now
[28:51 - 34:08] Wrapping Up!
• People are trying to innovate in smaller ways, rather than developing new products altogether
• Henrik on the rapid four questions
Connect with Henrik:
Gembah (Website)
Henrik Johansson (LinkedIn)
Key Quotes:
"People recognize they have to create something different, but you don't start with something unproven that you don't know how big of a market there is." - Henrik Johansson
"Creating a brand new product is definitely higher risk, but higher reward. If you succeed, then you have a bigger greenfield opportunity." - Henrik Johansson
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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The discipline of truly understanding your accounting, your numbers, and your profits will help you to make decisions quickly and easily. In this episode, Jon Tilley talks about how important metrics and data are for every Amazon seller. He stresses how the marketplace has matured and why you should clearly understand your market, your niche, and your competitors in order to rank and be successful on Amazon. Pay close attention as Jon shares what happens when sellers don’t use data and the tools to their fullest potential. Listen and enjoy!
Jon Tilley initial career spanned 15 years working as an account director & strategist for some of the top digital agencies in Johannesburg, London, and Los Angeles before starting his own business. He started his Amazon Seller journey in 2014, launching multiple successful private label brands selling and scaling sales beyond 7 figures. During this time, Jon saw an opportunity to create a business intelligence software tools for Amazon Sellers, co-founding ZonGuru in 2016. ZonGuru continues to launch tools ahead of the market, and use data-driven techniques to help its customers create and run successful Private Label businesses on Amazon.
[00:01 - 06:05] How to Use Data and Metrics to Create a Successful Amazon Business
How Jon saw an opportunity to create a business intelligence software tools for Amazon sellers Launching his own successful private label brands on Amazon Understanding your metrics and data is essential for every Amazon seller Networking is key to finding like-minded individuals, which can open up many opportunities for you in business[06:06 - 22:43] How to Succeed on Amazon in a Matured Marketplace
How the marketplace has matured and how this affects sellers as a whole The four fundamental questions that you need to answer when evaluating a product idea You also need to do research on your target audience and understand their needs and wants The importance of networking and taking action Successful eCommerce entrepreneurs are those that are curious and are there to learn One of the key factors for success is having a gut feeling that comes from experience and learning[22:44 - 33:11] How to Launch a Product on Amazon That Will Succeed
There are certain things that successful business owners should never neglect The key points for entrepreneurs when it comes to Amazon and e-commerce Understanding the relevancy of keywords, quality score matching, and PPC campaigns Account health, inventory health, and imagery efficiency are all important factors in Amazon's evaluation of sellers How a launch strategy that includes using programs that Amazon offers is essential for success It’s important to know when to discontinue selling an inventory item to avoid losing money[33:12 - 39:33] Wrapping Up!
The key to being a successful entrepreneur Jon on the rapid-fire questionsConnect with Jon:
Zon Guru (Website)
Zon Guru (Instagram)
Key Quotes:
"Data is always 50% of the equation, and the other 50% is the gut feeling." - Jon Tilley
"There's a lot of data. You have to understand how to use that to make good business decisions." - Jon Tilley
"You want to make sure you do the best you can at something, and then know when to stop and move on to the next thing." - Jon Tilley
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you figuring out how to build & grow your business while still having the opportunity to exit when the time is right? In this episode, Neil Twa shares his insights about how the eCommerce space has evolved and how you can still be successful if you follow the right path. He breaks down how he addresses launching new products and why it's a different approach than others. Neil digs into how to prevent yourself from sabotaging your business and make it grow organically. If you are looking to build a successful brand on Amazon, this episode is definitely for you!
Mr. Twa is the co-founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private-label e-commerce businesses for the last 9+ years. Today, he and his clients have sold over $100 million+ in physical products primarily through the Amazon FBA sales channel. Neil shares his blueprint for how to build an online business that can generate a passive “almost automated” six-figure income in just 12 to 18 months. And how to set up the business for potentially millions in sales within 18-24 months through a 'pay as you profit' skin in the game model of consulting + performance-driven business mentoring.
Key Highlights:
[00:01 - 06:27] What It Takes to Build an Amazon or E-commerce Business
• Neil shares his background and journey in the eCommerce space
The co-founder and CEO of Voltage Digital Marketing Launching operating and growing private-level e-commerce businesses• How to build an online business that can generate a passive almost automated income
Setting up a business for potential millions in sales within 24 months[06:28 - 21:08] How to Survive and Thrive in the Amazon Marketplace
• How the maturity of Amazon has shifted from being just about the algorithms
It's key to focus on brand development and competition research• The shift towards product development has helped Amazon become a more competitive marketplace
Sellers need to understand where the slipstream is to be successful on Amazon• How to launch a product in 90 days or less
What will determine which products are most in demand and have the highest sales velocity[21:09 - 37:53] Making your Amazon product profitable
•The strategy for launching a new product varies depending on the niche
It involves transparency, following the customer into buying gold vein, and using data to overcome competition• You don't want to sabotage yourself by continuing to sell a product that isn't profitable or selling it at a high cost
Moving a product that isn't profitable into a position that acquires more customers• Why you need to focus on increasing profitability first and then expanding your customer base
• There is more opportunity now than ever before on Amazon
[37:54 - 43:45] Wrapping Up!
• What Voltage Digital Marketing does and its mission
• Neil on the rapid-fire questions
Connect with Neil:
Voltage Digital marketing (Website)
Neil Twa (LinkedIn)
Key Quotes:
"Brand building is the way you need to do Amazon." - Neil Twa
"Do not start a product launch on Amazon if it's not within a brand." - Neil Twa
"You have to be willing to do the work, to spend the money, and obviously understand how you're going to compete." - Neil Twa
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Is your offer differentiated enough relative to the competition? In this episode, Fernando Campos navigates into how to create a killer listing and to make sure you have a solid strategy when you launch your products. He remarks on the importance of paying attention to proper product development and how you should go about keyword research in your launch phase. Fernando discloses when it's the right time to let a product go and provides his outlook on the aggregated space long-term. Listen and enjoy!
Fernando is the co-founder of MarketplaceOps and specializes in scaling CPG brands on Amazon. MarketplaceOps leverages fully-integrated technology and proprietary marketing techniques to beat your competition with repeatable strategies. Fernando has generated more than $150MM in revenue for his clients and sold two businesses in the Amazon space. His companies were ranked in the Inc. 5000 in 2019 & 2020, and in Entrepreneur360 in 2016, 2017, 2018 & 2019
Key Highlights:
[00:01 - 07:05] How to Make a Killer Listing and Succeed on Amazon
• Fernando shares how he got into the eCommerce space
How he became the co-founder of MarketplaceOps He has generated more than 150 million in revenue for his clients and sold two businesses in the Amazon space• Make sure to have something differentiated and not rely on traditional marketing methods
Paying attention to keyword research and product development when launching a product on Amazon is essential[07:06 - 20:34] How to Optimize Your Amazon Listing for Conversion
• What you need to be successful on Amazon these days
You should have your product development, advertising, and listing down "almost perfect." Focus on building a strong brand and converting visitors into buyers• The importance of differentiated and high-quality product offerings
• The process of identifying the most relevant keywords for a product launch
Target those keywords with the highest volume and highest relevancy[20:35 - 34:34] Beat Out Your Competition
• What Fernando normally considers a launch phase of a product
• When is the right time to sell or not to sell a product
• How long it will take for a product to be profitable
You should consider factors such as whether a product is consumable or not• Fernando's insights about the aggregator space
The Amazon brand is still valuable, and there is a market for selling them[34:35 - 39:30] Wrapping Up!
• The Amazon business is an asset class and will continue to grow
• Fernando on the rapid-fire questions
Connect with Fernando:
Fernando Campos (LinkedIn)
Fernando Campos (Instagram)
MarketplaceOps (Website)
Key Quotes:
"You just have to have something differentiated. It doesn't have to be completely revolutionary." - Fernando Campos
"The first thing that's most important that I don't think gets talked about enough is just having a really highly differentiated offer." - Fernando Campos
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Do you know how to achieve category dominance on Amazon through premium SEO and PPC marketing? In this episode, Isaac Gross provides you with great advice on how to understand TACoS and ACoS, and product launches. He stresses the importance of having a long-term strategy when doing PPC, and why it is a key element for success. Isaac digs into the state of PPC in general and more importantly if Amazon is still a viable option for somebody to enter and make a lot of money. Listen and enjoy!
As a long-time Amazon seller, Isaac made it his mission to help others with their PPC. His deep understanding of the Amazon algorithm undoubtedly gives our clients an unfair advantage. Isaac is the Founder and CEO of IG PPC, a hands-on Amazon PPC agency for 7-9 figure brands that manages over $2B in annual sales on Amazon.
Key Highlights:
[00:01 - 07:25] Achieving Category Dominance
• How Isaac got started in Amazon selling, how he evolved his business
Issac's journey building IG PPC•How to maximize the value of your Amazon or e-commerce business
Isaac shares great tips on PPC spending, product launches, and branding[07:26 - 28:28] PPC is a Big Part of the Business
• PPC is a long-term investment, and it's important to have a vision for long-term growth
Why it's important to have somebody who is US based• Make sure to stay up-to-date on new products and strategies, so you can continue to grow your business
• The difference between TACoS and ACoS and how they function
• Every new feature that Amazon rolls out impacts the PPC strategy
Sellers must have a goal for what they want their PPC to achieve[28:29 - 49:18] How to Launch a Product That Will Succeed
• Why the price is one of the most important factors to consider when launching a product
• The main thing to remember when launching a product is to give a good price and then go aggressive on PPC
If the product does not convert well, it is a failed launch• Isaac's insights about influencer marketing - pros & cons
• How to figure out why your sales are dropping
You should look at things like pricing, negative reviews, and competitor activity[49:19 - 56:28] Wrapping Up!
• If somebody has the experience and knowledge, they can be a successful business on Amazon
• Isaac on the rapid-fire questions
Connect with Isaac:
IG PPC (Website)
Isaac Gross (LinkedIn)
Key Quotes:
"The ultimate goal is to make money, not sales." - Isaac Gross
"If you don't expect anything to change, then the conversion rate will never get better." - Isaac Gross
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Is your brand thriving, growing, and staying ahead of the competition? In this episode, Steven Pope dives deep into product development branding and how sellers could win on Amazon. He points out why Amazon is not a passive income anymore and how to look at PPC versus outside traffic. Steven breaks down why your customer avatar is essential to gain a competitive advantage in the market and how to survive when your Amazon products don't sell as expected. If you're selling on Amazon, this episode is definitely for you. Listen and enjoy!
Steven is the founder of My Amazon Guy, a marketing agency with 250+ brands managed. Steven started his career as a TV reporter in Idaho, then was an eCommerce Director for 10 years for brands ranging from Gold & Silver Coins to Women’s Plus Size Clothing. Steven then created My Amazon Guy, a 300+ employee agency that focuses on growing traffic and sales on Amazon. Steven not only owns MAG but also My Refund Guy, 2 Amazon Brands: Momstir & Age of Sage, and a Holster company HOLSTIT. Steven has more than 1000 tutorial videos on YouTube showing how to handle ANY problem faced on Amazon and has interviewed every major player in the Amazon space on his podcast.
Key Highlights:
[00:01 - 07:42] My Amazon Guy
• Steven introduces My Amazon Guy
A marketing agency that manages over 300 brands Focusing on growing traffic and sales on Amazon• The four pillars to marketing on Amazon
Traffic, conversion, SEO, and PPC[07:43 - 27:32] How to Succeed on Amazon
• Make sure to increase your market share, and focus on keywords and rankings in the SEO phase
• The key to success on Amazon is understanding your customer avatar and building a brand around that
Think about who your target demographic is and what their needs are• How testing and tweaking your product, content, and branding is essential for success on Amazon
The power of Amazon's Brand Story• How to know when it's time to let go of a product
[27:33 - 46:48] What's Better for Sellers?
• There are simple ways to increase your ranking on Amazon
Why you should be changing your listing once a month• How to survive when your Amazon product doesn't sell
• Steven's outlook on Amazon vs Walmart
Why sellers should not put all their efforts into Walmart• How to keep your content fresh while running an agency
[46:49 - 53:00] Closing Segment
• Steven's business model at his Amazon guy
• Steven on the rapid-fire questions
Connect with Steven:
My Amazon Guy (LinkedIn)
My Amazon Guy (YouTube)
Key Quotes:
"Nobody sells products on Amazon, we all sell solutions and experiences." - Steven Pope
"You need sales to get sales." - Steven Pope
"If you want a cult brand, you need to push people away." - Steven Pope
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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What steps are you taking to sell on Amazon and leverage what you’ve created? If you want to sell the most, you have to be the best. In this episode, Tomer Rabinovich discloses his journey as an eCommerce entrepreneur and stresses where the Amazon space is going. He discusses how product development is not what it used to be, and how you should go about product development these days. Tomer shares his insights about the ecosystem of the aggregator space and why you should attend events in the Amazon community. Listen and enjoy!
Tomer Rabinovich is an Amazon seller who has created and launched multiple private-label brands. His first product went live in March 2015, and he became a seven-figure seller within his first year. A sought-after speaker, Tomer addressed thousands of people around the world. His audiences range from intimate mastermind groups to national and global conventions. Though he’s still an active online seller, Tomer’s real passion is helping other sellers and online retailers scale their businesses. He’s grateful for the life-changing opportunities he’s earned as an Amazon seller and enjoys nothing more than seeing other people fulfill their dreams by following a similar path.
Key Highlights:
[00:01 - 07:26] The Pro Seller's Guide
• Tomer shares how he got into the Amazon and e-Commerce space
Helping Amazon sellers transform their businesses and lives Extending the opportunity of selling to anyone willing to do the work and make the dreams come true• Tomer's insights about where Amazon and e-Commerce are going
• Check out Ride the Amazon Wave
[07:27 - 21:45] How to Develop Products That Sell Like Crazy
• The key to success is differentiation and barriers of entry in sourcing parts of the product development process
Starting with products that are very cheap or very expensive, and then going for more difficult or niche products• Why branding should be built into products as they are launched
A brand needs both high-margin products and low-cost products to generate traffic and sales• How cash flow is a major challenge for new and existing Amazon sellers
• Strategies to launch products for existing brands without spending a lot of money
[21:46- 35:55] How to Survive When Amazon Aggregators Fail
• Why sellers should consider selling and staying on board
Keeping sales and learning from the brand• To be successful as an aggregator, you need to focus on acquiring potential rather than becoming a best seller on Amazon
• You should launch products to increase your net growth (profit) rather than focus on revenue growth
The benefits of having multiple products in your portfolio that are doing well You need to launch multiple products that are different but targeted at the same people[35:56 - 44:57] Wrapping Up!
• Vital steps for reaching the next level
• Tomer on the rapid-four questions
Connect with Tomer:
Top Dog (Website)
Tom Rabinovich (Facebook)
Key Quotes:
"When you are acquiring a business, you're actually acquiring potential." - Tomer Rabinovich
"The growth is the profit. It's not the revenue." - Tomer Rabinovich
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you ready to grow, scale, and expand your eCommerce business through partnerships? In this episode, Nick Penev delves into partnerships and why it's so important for service providers and businesses in general to have them in order to grow their sales. He stresses out how to look at partnerships and what are the first steps you should follow to make sure you find the right partners. Pay close attention to Nick's advice on how you can expand your business to Europe and everything that entails growing to other Amazon marketplaces. Listen and enjoy!
Nick Penev is the Partnership Manager and webinar host at Hello Tax and Co-Founder of Xtreme Power Brands. He and his partners developed and launched 20+ Private Label Supplement brands across Europe. Nick exited his brands in 2020 and since then he has rebranded XTREME POWER brands into a Partnership as a service agency for ecommerce service providers. He and his team help these companies to grow through partnerships in the ecommerce space. Nickhas done or participated in 100+ webinars and events with partners in the ecommerce space.
Key Highlights:
[00:01 - 07:30] The Power of Partnerships
• Nick shares his story of how he got into ecommerce and how partnerships helped him grow his business
The partnership manager and webinar host at Hello Tax and founder of Extreme Power Brands Launching 20 plus private label supplement brands across Europe Creating a service agency for e-commerce service providers• Why partnerships are important for service providers or businesses in general
[07:31 - 22:00] Tips for Succeeding in Partnership
• Nick's experience selling to multiple markets and connecting service providers with his company
How Nick started working with other companies in the industry to help them grow their partnerships and services• How successful partnerships involve taking small steps to build a relationship
• It's important not to make assumptions about what the other party can or cannot do
Be willing to do something for the other party, and not just take advantage of them• Nick's advice on how to grow a company in the eCommerce space, and how partnerships can be an important part of this growth
[22:01 - 37:01] How to Expand Your Business
• The key points for starting and expanding a business in the Amazon and e-commerce aggregated space
Partnering, testing, and evaluating potential partnerships• Nick's outlook on the opportunities in the Amazon and e-commerce aggregated space
• Expansion into other countries can be difficult, but there are services available to make the process easier
• What you should do if you're looking to expand your business to Europe
Do the research, test small, and then expand[37:02 - 44:52] Closing Segment
• Never make assumptions, do the research
• Nick on the rapid-fire questions
Connect with Nick:
Nick Penev (LinkedIn)
Xtreme Power Brands (Website)
Hello Tax (Website)
Key Quotes:
"You only work from your mistakes, you don't work from actually all the wins that you do." - Nick Penev
"Partnerships is about giving first and then getting big." - Nick Penev
"Don't tell me what we can do with money, tell me what we can do without money." - Nick Penev
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you clear about your business profits? In this episode, Nachman Leiser shares how he started his career and how he ended up building his eCommerce bookkeeping and accounting firm. He explains the importance of not only having software that connects your Amazon account but really looking at the data. Nachman remarks on what are the key metrics you have to look at to make sure that you have the proper profit margins. Pay close attention to how he has been able to juggle multiple businesses and grow his new SaaS business. Listen and enjoy!
Nachman Leiser is the CEO and founder of Connectbooks and Bottom Line Management. For over 10 years, he’s been an entrepreneur, financial analyst, and profit game changer - usually all 3 at once. After working as CFO in several businesses, growing their revenue by double-digit percentages and more, he founded his own eCommerce bookkeeping & accounting firm that specializes in uncovering ways to reduce cost, eliminate losses, and scale profits. He helped online sellers in the red become profitable within a year and exceed the million-dollar mark in net profits.
Key Highlights:
[00:01 - 07:15] Benefit from Hiring a Bookkeeping Company
• Nachman shares his background in the eCommerce space
The CEO and founder of ConnectBooks Reconcile every transaction with banks statements See itemized and bottom line profit and inventory updates as they happen• The importance of having software that connects your Amazon account and data-driven strategies to improve profits
[07:16 - 32:42] The Software You Need to Keep Your Amazon Business Running Smoothly
• You should determine your break-even point and calculate your profit margins and overhead costs
• It is important to have realistic expectations and be willing to pivot to keep their business afloat
Put together financial information•Why Nachman decided to split the company into different businesses
When you focus on one industry, it's easier to scale the business• How Nachman realized there was a need for a good bookkeeping software
[32:43 - 52:12] How to Automate Your Accounting and Selling in QuickBooks
• How to hire the right people for your business
Make sure they fit the company culture• Why understanding the inventory value and profits can be difficult
• Connect books offers data visualization that breaks down profitability by skew and variation
Understanding where products are losing money Automating accounting and tracking of product sales• Before taking any action, it is essential to understand the P&L (profit and loss) of a company
[52:13 - 57:25] Wrapping Up!
• Why Shopify is different than Walmart
More customization and control over how orders are processed• Nachman on the four rapid questions
Connect with Nachman:
Nachman Lieser (LinkedIn)
ConnectBooks (Website)
Key Quotes:
"If you work really hard, nonstop, at some point you'll get there." - Nachman Lieser
"Make sure whatever you're doing, you're doing it a hundred percent completion and then you move onto the next project." - Nachman Lieser
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Do you know how to set your e-commerce or Amazon brand up and maximize your results? In this episode, Danny McMillan shares his insights about where the Amazon marketplace is heading to and why sellers should test different pricing strategies and be mindful of their total cost to sales. He also discusses the concept of PPC and how to make sure you're making money and dividing your launch stages. Danny stresses why you should make sure to have a proper ratio between PPC and organic sales as you're managing your products. He digs into the current state of aggregators, why they pause, and what's next. Listen and enjoy!
Danny is the host of Seller Sessions, the largest podcast for advanced Amazon sellers. World-renowned public speaker Danny is also the co-founder of DATAbrill. Working alongside respected algorithm expert Dr. Ellis Whitehead, DATAbrill manages PPC and advertising automation for 7 and 8-figure Amazon brands. He also runs the annual conference Seller Sessions Live, Branded By Women, and SellerPoll; the annual awards for the Amazon FBA Community.
Key Highlights:
[00:01 - 07:09] The Sellers Sessions
• Danny shares his experience as a seller, speaker, and podcast host in the Amazon space.
• The concept of aggregators and how they've affected the community
• How to create a successful Amazon business
Why you should focus on data management, content creation, and networking[07:10 - 20:35] How to Succeed on Amazon Marketplace
• If you want to be successful on Amazon, you need to be very sophisticated and targeted in your marketing
You need to focus on creating high-quality products that people will want to buy and price them affordably• Why there are more barriers to entry now than ever before
• The sophistication of Amazon has increased, making it harder for new sellers
It is important to have a product development strategy and product expansion strategy• Product differentiation is key to success on Amazon as is building a strong brand.
[20:36 - 34:05] There is Still Room for Growth
• The aggregated space has brought a lot of new sellers and entrepreneurs into the market
• The key to success in the aggregated space
Timing, market knowledge, and having a good product• Aggregators are cleaning up their act to stay afloat and have s healthier business
Managing brands and maintaining customer relationships.• Finding the "happy medium" between PPC and organic traffic is important to maximize profits.
[34:06 - 47:41] Wrapping Up!
• What's the most important of product launches
• Make sure to attend events that are relevant to your business
• Danny on the four rapid questions
Connect with Danny:
Seller Sessions (Website)
Data Brill (Website)
Danny McMillan (LinkedIn)
Key Quotes:
"Time is money and what you need is a snapshot of information and apply that to your business." - Danny McMillan
"Your best learnings come through pain." - Danny McMillan
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you an Amazon seller that is looking to improve your product listings and brand awareness? In this episode, the CEO of House of AMZ discloses the best way to launch a product and what you should consider to build a brand that is successful in the marketplace. He stresses how to utilize your A+ content and storefront in order to get the most ranking for your listings. Mark offers great advice on how to keep people's attention through great SEO and optimize your listing for better search engine rankings. Whether you are new to the game or an established seller, this episode is for you. Listen and enjoy!
Mark’s personal background is marketing and branding having brands of his own and along with his Amazon knowledge working under the 9-figure brand. Combining those together is how House of AMZ was born. Where Mark can help to optimize your products and brand not only for the outside world but mainly on Amazon which is its own ecosystem in itself.
Key Highlights:
[00:01 - 06:55] The Importance of Branding When Selling Amazon Products
• How Mark got involved in the Amazon space
His passion for marketing and branding Learning the new ecosystem of Amazon• The importance of building a brand vs building products
• Mark's outlook on where the marketplace is going
[06:56 - 19:52] Branding Your Product to Stand Out
• How packaging can make a big difference
• It's important to launch the product the right way
Having good graphics and a strong foundation• You should have a conceptual development of the brand, as well as visual components
• Why outside traffic is the number one thing to focus on when launching products on Amazon
[19:53 - 32:37] How to Rank Higher on Amazon
• Why having a good SEO component in your product's listing is crucial
It gives you more real estate space on the page It increases the chances of selling your product• How to rank higher on Amazon for your product
Focus on keywords that are relevant to your brand• You need to focus on branding and creating a good reputation for your business before focusing on selling products
[32:38 - 35:04] Wrapping Up!
• Be aware of Amazon's algorithm and make sure your branding is consistent across all channels
• Mark on the rapid four questions
Connect with Mark:
House of AMZ (Website)
Mark Casey (LinkedIn)
Key Quotes:
"The algorithm is very important, but building a brand is what's gonna help you in the long term and overall for your brand itself." - Mark Casey
"If you're starting at a very weak foundation, there are a lot more questions you're gonna be having to ask yourself, and you're just gonna be wasting more time." - Mark Casey
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Are you struggling to systemize and scale your eCommerce business? In this episode, Yoni Kozminski digs into the importance of processes and systems in a business's development and when it's the right time to start preparing them. He explains why processes are a key element for every business, but specifically an e-commerce or Amazon business that potentially you want to sell. Pay close attention to Yoni's insights about the aggregator space and how you could still take advantage if you're building your business properly. Listen and enjoy!
Yoni has spent a decade in digital marketing & creative advertising globally including places like Australia (origin), Los Angeles, and Tel Aviv developing digital strategies for the likes of Mercedez- Benz, Mastercard, Sony, Medtronic, and many 8-figure eCommerce brands. In 2018 Yoni expanded an eCommerce/Amazon business from $2 million to $5 million in 12 months that was sold in 2019. A key driver was the ability to build a fluid process, as well as a team of incredibly talented individuals in the Philippines. Since January 2020, MultiplyMii & Escala have grown from a team of 4 to over 300+ people on payroll supporting more than 100+ businesses that are responsible for more than 750M+ in annual revenue.
Key Highlights:
[00:01 - 07:16] Building an Amazon or E-Commerce Business
• Yoni shares his background in digital marketing and the eCommerce space
How he has helped hundreds of brands flourish Why his experience with Amazon and eCommerce brands has been key to his success.• How Yoni expanded an eCommerce Amazon business from 2 million to 5 million in 12 months
The ability to build a flow process as well as a team of incredibly talented individuals[07:17 - 27:57] How to Systemize and Scale a Business
• How to build a process that makes sense for your business
• The importance of documenting the process of running a business
It helps to ensure that everyone involved is clear on what needs to be done• Why systems and processes in a business are a key element
They help to protect the business from competitors and ensure that products are of high quality• It is essential to have a healthy mix of both systems and people to create a successful business
[27:58 - 40:37] Amazon's Aggregators Are Pausing Or Not Buying
• Yoni's outlook on how Apple has a very focused goal of creating the best products and experience
• Why Amazon's aggregated space has seen a rush of activity in the past few years
• Yoni introduces South Cal and how they can help you grow your business and exit
It provides capital, guidance, and resources on your climb to the summit• The key criteria that South Cal is looking for
2-3 million revenue business The business needs to show a year-on-year growth[40:38 - 42:56] Wrapping Up!
• Yoni in the four rapid questions
• Check out Successful Scales
Connect with Yoni:
Yoni Kozminski (LinkedIn)
MultiplyMii (Website)
We Are Escala (Website)
Key Quotes:
"The most valuable thing you can do is both build that audience and then continue to launch new products that appeal to the brand that you're trying to create." - Yoni Kozminski
"Documenting the process really helps bring clarity to everyone involved in the business." - Yoni Kozminski
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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Do you want to maximize the value and potential of your brand, but you don't know how? In this episode, Chris Shipferling discusses what's happening in the market right now with the aggregated space and how the investment banking space is looking at brands. He delves into what makes a great brand and provides great advice on what you should focus on if you're starting to build a brand and looking to sell it down the road. Listen and enjoy!
Chris Shipferling is a Managing Partner at Global Wired Advisors, a leading Digital Investment Bank that specializes in the optimization of the business sale process. Before working at Global Wired Advisors, Chris was the Owner of Robert & Pearl, the Executive General Manager for North & South America at Jané Group, and the Senior Director of Sales at Evenflo. Through his work at Global Wired Advisors, Chris offers expert advice to Amazon and e-commerce entrepreneurs searching to maximize their potential before, during, and after their big exit.
Key Highlights:
[00:01 - 07:29] How to Maximize the Value of Your Amazon or E-Commerce Brand
• How Chris got into the eCommerce space
His experience in branding and marketing and product innovation Working as managing partner at Global Wired Advisors The optimization of the business sales process• How to maximize the potential of your business before, during, and after the big exit
[07:30 - 21:55] The Trending E-Commerce Growth
• The reasons why financial institutions invested in FBA businesses, and how this trend continues today
Why debt coming into FBA businesses made it easier for people to invest• The market for Amazon businesses has been disrupted with multiples depressed and it taking longer to sell
• Why the eCommerce market is becoming more selective
Fewer buyers are available and those that are buying are seeking stronger brands and products[21:56 - 36:18] How to Sell Your eCommerce Business
• Sellers need to understand their CPG brand and what that really means
Developing a product within a category that differentiates oneself from competitors is key•The importance of branding, marketing, and diversification for Amazon sellers
• Sellers need to think about their company from a product perspective and divorce themselves from profit margins
Sellers should focus on where they are selling their product, and innovate to keep the brand strong[36:19 - 43:03] Wrapping Up!
• You need to have a strong brand, good product, and a well-developed financial plan
• Chris on the four rapid questions
Connect with Chris:
Chris Shipferling (LinkedIn)
Global Wired Advisors (Website)
Key Quotes:
"Good assets always sell no matter the market conditions unless we're in a great depression." - Chris Shipferling
"You cannot see the potential out of a product's profit. you just can't do it, you gotta have a brand." - Chris Shipferling
Visit Let’s Talk Exits and drop your questions and comments at https://letsat talkeat xits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts
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