The Female Millennial Entrepreneur Podcast: Recent Episodes
Alessandra
The show made for and by Female Millennial Entrepreneurs, that talks about how to create and market your next endeavor, and gives you the opportunity to learn from others who are doing it too.
Peter Dinklage spent a good portion of his life trying to come to terms with ambition. It's something he's had an adversarial relationship with, going back to the days when he started a theater company that mounted no productions. But Peter tells Marc how he got more comfortable with having an acting career and how he learned to embrace mainstream success, whether it was from his star turn in The Station Agent or his work on Game of Thones or his latest film, the new adaptation of Cyrano.
Helium 10 helped Manny Coates launch three of his own products and go from 0 sales to over 1,300 per day. Manny is a multi-million dollar Amazon seller, a podcast host, a Mastermind mentor, a Facebook Group founder with 25,000 members and the founder and developer of a SaaS product called Helium 10.
Helium 10 will show you your competitors inventory levels and help you know when they'll run out. Manny used the tool, paused his own campaign until the competitor ran out and then raised his own prices during the holiday rush to boost his profits.
In this podcast Manny shares how Helium 10 helped him with his own business and how it is helping 1,000s of product owners with both its free and paid service.
Episode Highlights: 1. C.P.R. Formula for Launching Products 2. How a Special URL Helps “Juice” Products to the Top of Page One 3. Why You Must Do a Product Launch to Rank and Sell on Amazon 4. How to See What Keywords rank on Amazon 5. A Tool to See Where Your Keywords Rank on Amazon 6. How Images can Make or Break Your Sales 7. Why Seasonal Products Make More Money 8. How a Product Owner Went from 10 Sales a Day to 100 a Day with Image Edits. 9. Influencers Are Important Long Term for Building Brands 10. Facebook is Used to Run Advertising to Amazon Product Pages 11. Why Using a Wide Variety of Tools is Important 12. You Need Trademarks to Get Enhanced Brand Registry 13. How COGS Impacts Your Launch 14. Why Ranking For One Keyword Helps Your Title Keywords Rank 15. Some Sellers do Perpetual Giveaways to Maintain Rank.
Resources: Cerebro Product Launch
Helium 10
Helium 10 Chrome Extension
AMPM Podcast
Illuminati Mastermind
FBA High Rollers
Since 2013, Shakil Prasla has bought 8 internet based businesses ranging from smaller 5 figure businesses up to 7 figure enterprises.
Obviously, acquiring and running 8 companies in just 4 years is both time consuming and requires significant capital. In this conversation, we talk to Shakil about both managing 8 companies as well as the capital resources he uses to continue acquiring online businesses.
Rather than try and do all of the work himself, Shakil developed a system in which he hires a business manager before he even closes an acquisition. By doing this, the manager is able to work with the seller and learn, firsthand, how to operate the nuances of the business. Business managers are compensated on a salary and bonus structure with goals oriented towards business and revenue growth.
Shakil has used a variety of funding sources to close deals. While he has done a few deals using SBA loans, he has also managed to secure friendly bank financing on Internet acquisitions outside of an SBA loan. He believes strongly in the power of carrying debt to leverage your overall value.
Episode Highlights: * Shakil has been in ecommerce for 6 years. It took him a lot of time to build his first site. * He saw a Quiet Light ad and looked into buying a business. He bought his first business for $60,000. * He was able to make his money back in about 6 months. * He has now acquired 8 companies from 6 figures to 7 figures in various niches. * That is buying roughly 2 companies per year. * Buy smaller and audit. Take less risk, learn, and grow intelligently. * Save your cash flow for larger acquisitions. * There is more competition when buying small, but there are more opportunities to grow. * Larger companies have more complex strategies including having employees and SOPs. The bottom line will be higher. * When Shakil acquires a company he keeps the previous owner on for 3 months to transfer their knowledge to the business manager. * He uses a hiring company to find someone with a marketing and business background. They are paid on salary and incentives on next year’s growth. * Shakil uses agencies for marketing and email campaigns. * The business manager comes up with high level goals and then they work backwards. They use software and weekly calls to track things. * Shakil’s time is valuable, so he delegates so he can focus on growing the business. * Shakil takes on debt and does paid advertising, so he tests strategies and grows the company. He looks at growing the overall value of the business. He is ok with sacrificing short term cash flow. He does want to see an ROI on the new manager. * He has done SBA, owner financing, owner holdback, and unsecured short term five year loans. * The bank asks for tax returns and balance sheets. The seller needs to provide the information. * Making true money through financing. * You have to have a stable income and high credit score to get the bank financing. Shakil reached out to multiple banks. With smaller banks it is easier to move the process along. * Shakil looks at about 80 deals a month. He has a set of initial questions. He places one or two offers every quarter. * Patience is key, don’t rush into buying a business unless it is the right fit. * Put yourself in the seller’s shoes and build trust with them.
Resources: * Shakil Prasla on LinkedIn * SZVentures * @SHAKILPRASLA on Twitter * Indeed * Noah Kagan * Help Scout * BizBuySell * MailChimp
Slipping through space:
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