The Page 1 Podcast

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What sort of important data can a brand gain from working with a Reverse Logistics company? How can you lower your return rate and improve customer satisfaction? In this episode, you will hear about how Reverse Logistics can improve your business with help the environment with a focus on sustainability, getting products back into the market for second use or recycling.

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Amazon 3P Marketplace Strategy with John Holby

In this episode of the Page 1 Podcast, Luke Peters speaks with John Holby on how to better optimize on Amazon and scale your sales with 3P listings. John is the CEO of CPG.IO where they offer eCommerce logistics strategies, eRetail integrations, and optimization services to fast-growing brands.

Listen in to learn why 3P might be a better business model than 1P and how to approach it. You will also learn the advantages of having a Shopify site for your business and why you need to utilize it even as you use Amazon.

Key Takeaways:

How to ensure your 3P listings are driving business
The future plans of Amazon and how we can plan around them
How to maximize the benefits of Shopify in your business even as you use Amazon.

Episode Timeline:

[1:46] Get to know John Holby and how they help clients with direct-to-consumer sales at CPG.IO.
[10:44] How using influencers and social marketing is helping them get more reviews on Amazon.
[12:58] The different ways they work with Walmart and how each of them works.
[15:43] The difference between 1P listings and 3P listings and how to approach it.
[17:52] The unfair ‘competition’ going on Amazon right now.
[20:31] Why 3P is increasingly becoming a better business model for some brands.
[22:14] All about Prime one day and why it’s challenging for businesses.
[24:06] The benefits of having a Shopify site and how CPG.IO helps clients maximize them.
[27:58] John explains CPG.IO’s other services and their future growth strategy.

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How did your business navigate the Covid crisis? Did you learn new innovative ways that grew the business, or did you stagnate in the same old models? To navigate a huge crisis and still grow as a business calls for adopting new models or products that fit in that particular time and moment.

In this episode of the Page 1 Podcast, Luke Peters speaks with Atul Vir on how his business navigated the 2020 pandemic through innovation after 30 years of operation. Atul Vir is a hands-on CEO, seasoned entrepreneur, inventor, and author. He started his business Equator Advanced Appliances in 1991 which he operates on the principles of strong ethics and superior customer service.

Listen in to learn how Atul and his team were able to reimagine and reengineer his company to a favorable and growth position during the pandemic. You will also learn the importance of staying prepared and flexible as a business in any phase of the economy.

Key Takeaways:

How to focus your business specialization on what the customer needs and wants.
The importance of having the product inventory in advance to keep growing a business during a crisis.
Why businesses should stay prepared and flexible even after the pandemic.
How to use empathy to anticipate customer needs when developing products.

Episode Timeline:

[2:49] Atul describes the innovative products they sell at Equator Appliances and their focus.
[5:00] How they reimagined and reengineered the company during the 2020 pandemic to make it their best year in 30 years.
[8:20] The steps and risks they took to overcome the Covid challenges and stay in business.
[11:51] How the pandemic taught them to plan for product inventory in advance to avoid delays.
[14:48] How they navigated cost increases by introducing newer models that fit in a new selling price.
[17:53] Why it’s uncertain whether the cost of production will continue being high or not after the pandemic.
[21:02] The innovative outdoor refrigerator and air conditioner Atul came up with, in 2020.
[23:11] How Atul has learned to understand the customer needs and wants to innovate products.
[25:16] The different markets Equator Appliances has been able to support during the pandemic.
[30:22] How some businesses failed during Covid plus how the appliances market will proceed post-pandemic.
[33:54] The engagement and support Atul and his team are offering to Covid victims in India.

Quotes:

“Empathy starts by showing concern for not yourself but your customers.”- Atul [24:41]

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How to Properly Launch A Product into The Market with Massive Success

Do you have a dream or the goal of successfully launching your product into the market? Have you set up the right strategy to ensure everything works even better than planned? Listen, many elements need to fall into place to ensure that you have a unique product, a ready market for it, and a launching plan set in advice.

That’s why, in this episode of the Page One Podcast, we have Helen Thomas, she has just helped DMAI successfully launch an artificial intelligence product. Helen is the CEO of DMAI, which is a global general artificial intelligence company. She has for many years grown businesses in the technology, digital media, and now artificial intelligence industries.

Listen in to learn the importance of building a community even before the product launch to ensure there is a ready market for it. You will also learn the importance of preparing for the launch in advance, plus simple ways to get you good product reviews.

Key Takeaways:

How to build a community as part of the marketing campaign during your product’s pre-launch stage.
Utilizing consistent earned media to support your paid media to keep your Facebook campaign fresh and results-yielding.
How to prepare for your product launch in advance to ensure its success.
The importance of adding a human touch to your customer service to ensure good reviews.

Episode Timeline:

[1:26] Get to know Helen and what they do at DMAI.
[2:52] She describes the Virtual Preschool System, Animal Island Learning Adventure they launched.
[5:21] DMAI’s scope of operation, the size of their team, and how they were affected by the pandemic.
[7:03] The journey of formulating a strategy to create AILA, which became the starting point.
[9:31] How they invested heavily to produce their software and hardware original content.
[12:37] She explains how they approached the marketing of the product before launching to build its root in the market.
[15:56] How to approach Facebook paid and earned media with consistency to see results.
[19:10] The type of audience they target for AILA online, especially during the pandemic.
[22:08] Why they only direct their traffic to one place which is their website.
[25:08] Factors to look into to compliment your business website to be as good in sales as Amazon.
[29:39] Helen on how she successfully led the preparation for the product launch.
[32:17] The features that make AILA unique, better, and to perform excellently in the market.
[35:11] The three simple and guaranteed ways to get you good reviews.
[38:02] The importance of creating content based on what you care about to attract and build a community.

Quotes:

“Dream big and execute day by day, you will get there.”- Helen [41:11]

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How to Approach Selling on Amazon in 2021

How are you approaching your selling on Amazon strategy? Have you diversified your channels or are you solely relying on Amazon? Diversifying your channels as a business is very important instead of solely depending on Amazon. It is also important to first focus on differentiating the product before diversifying the channels.

In this episode of the Page One Podcast, Luke Peters interviews Brian Beck, eCommerce expert advisor and author of the Billion Dollar B2B Ecommerce book. He has 20+ years of experience in eCommerce and specializes in creating eCommerce strategies worth hundreds of millions to clients.

Listen in to learn the importance of directing outside traffic to your Amazon site rather than your website at the beginning of your marketing campaign. You will also learn why you need to first differentiate your product rather than selling channels.

Key Takeaways:

How to succeed by expanding your business to multiple channels and not just rely on Amazon.
How to increase your visibility on your Amazon site by directing traffic from outside Amazon.
How Amazon is working to get rid of fake reviews’ sites that negatively affect businesses.

Episode Timeline:

[1:14] Brian’s background in the eCommerce sector for the last 22 years.
[2:40] How they help businesses grow with Amazon at Enceiba.
[4:31] How they help well-established brands navigate Amazon fit into their overall picture.
[7:26] Why most businesses are shifting to 3P selling on Amazon over 1P.
[10:42] The importance of expanding your retail and distribution channels without solely relying on Amazon.
[17:47] How to build your positive reviews using Amazon tools and work to remove the bad ones.
[24:20] The advantages of directing traffic to your Amazon site to kickstart your marketing campaign.
[29:15] The different software tools that Enceiba has built to help clients navigate Amazon.
[34:12] Brian narrates how they helped a certain company transform their Amazon image for the better.

Quotes:

“At the end of the day, a manufacturer needs to differentiate on product, not on channel.”- Brian [12:47]

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3 HAG WAY: How to Develop a Plan and Build a Confident Team to Succeed in Business

Imagine having a business strategy that’s a well-thought-out plan and a culturally strong team to help you succeed. Having a prescriptive framework like the 3 HAG WAY to help you take the guesswork out of your business strategy and to lead your team with confidence.

in this episode of the Page One Podcast, we have Shannon Susko talk about the 3 HAG WAY methodology and how it helped businesses grow during the pandemic. Shannon has more than twenty years of experience building and leading high-growth technology companies in the financial services industry. She currently serves as a corporate director and a leadership coach helping CEOs and top executives in a variety of industries keep their companies on the path to growth and predictable profit.

Listen in to learn how to stop making assumption mistakes and instead adopt the habit of doing market research for facts. You will also learn the vitality of growing a confident team to help you be a confident leader and take your business to the next level.

Key Takeaways:

The importance of having the patience to build the execution plan and the team.
How to collect information and do market research regularly to always have facts, not assumptions.
How to have a thought-out plan to reach business success by utilizing a crisis like the pandemic.

Episode Timeline:

[2:53] How to execute the 3 HAG WAY methodology in business during the pandemic.
[5:29] How to wrap all the systems around the strategy by executing the plan and growing the team.
[10:49] How the 3 HAG WAY aligns the team with the business’s plan and makes things more objective.
[13:27] The mistake of assumptions that many businesses make instead of focusing on the facts.
[18:00] The benefits of having thorough and regular market research to have facts in your business.
[20:25] How companies using the 3 HAG WAY became proactive in projecting and managing the expectations of stakeholders during the pandemic.
[27:08] Shannon talks about her involvement with the Milo's Tea Company and how she helped turn it around during the pandemic.
[35:28] The importance of planning and committing to growing your team to achieve your business goals.

Quotes:

“Assumptions come from not doing the research in the market that we need to.”- Shannon [18:03]

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How to Increase the Chances of your Amazon Business Getting Acquired

Have you been thinking of exiting your eCommerce business but don’t know where to start? Or maybe you don’t know whether your business is in the right position to attract good buyers? How about positioning your eCommerce business rightly and taking it to the next level, especially now during the eCommerce high?

In this episode of the Page One Podcast, Luke Peters interviews Sarah Dajani, the Vice President of Operations at Boosted Commerce. She’s a Phi Beta Kappa graduate from Princeton University and has a Master’s in Business Administration from Stanford University. She explains the lessons of being a good student and the value of staying connected that she learned from Princeton and Stanford.

Listen in to learn the importance of trusting the entrepreneurial process and learning as you grow, to succeed. You will also learn how companies like Boosted Commercial are changing the eCommerce business dynamic.

Key Takeaways:

How to achieve your set goals and excel by putting in the work and trying more than once.
The impact of the pandemic on eCommerce, especially on Amazon.
The power of having access to knowledge, people, and institution to understand the economy and find success.

Episode Timeline:

[3:27] Sarah explains how to trust the entrepreneurial process and learn as you grow.
[6:16] How she put in the work to get into Princeton and Stanford plus get a job with Bain.
[8:15] The lessons of being a good student and the importance of staying connected she learned from Princeton and Stanford.
[11:34] How Boosted Commerce buys and grows eCommerce businesses.
[15:39] How she works with brand managers at Boosted to grow and maintain those brands.
[17:56] The relationship that Boosted aims to build with eCommerce business owners during and after purchasing their businesses.
[20:31] The importance of positioning your eCommerce business to the next level to prepare for exit.
[22:44] Why the valuation of eCommerce businesses has changed over time.
[26:44] Understanding what Amazon will and will not become over the long term.
[31:27] She explains why companies like Boosted are here to grow businesses on Amazon and not chase them away.
[35:21] The different ways to have access to knowledge, the right education, and the right network.

Quotes:

“What Amazon’s system rewards companies for is bringing additional traffic to the platform.”- Sarah [31:56]

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Built to Sell: How to Exit in Private Equity

Have you been thinking of selling your business but don’t understand how to go about it? The process of selling a business is a complex one that can take up to several months and in some cases end up not happening.

That is why in this episode of the Page One Podcast, we have Sean Belnick to share how he successfully exited his business after growing it from $0 to $300 million in value. Sean founded Belnick, Inc in 2001 and successfully completed an exit in early 2017, and transitioned to a full-time board member in 2019. Belnick, Inc continues to remain one of the largest distributors of furniture to internet-enabled retailers and services tens of thousands of customers nationwide.

Listen in to understand the process of successfully selling a business without jeopardizing its values and objectives. You will also learn why selling to the highest bidder isn’t necessarily the best thing for your business.

Key Takeaways:

Why it is challenging to sell a business that requires large working capital.
The importance of ensuring you and the investors see things the same way before creating a purchase agreement.
Why selling your business value is not the most critical part of the selling process.
How to be successful in business by staying true to your values and focusing on customer needs.

Episode Timeline:

[1:55] Sean describes what Belnick Inc. does, which is to primarily distribute office furniture.
[4:49] The benefits of starting a West Coast office as an East Coast distribution company.
[7:00] How he scaled Belnick Inc. from $0 to $300 million from 2001 to 2021.
[9:01] Why it was difficult to sell Belnick Inc. over the years and how they improved to appeal to investors.
[13:06] Things to pay close attention to, to sell your business at the right time and for what it’s worth.
[16:07] The process of going to market, how they approached the purchase agreement, and the challenges they encountered.
[20:12] Making sure your business values and objectives are in alignment with those you sell your business to.
[22:14] Sean describes the time consumption and hurdles they faced during the sale process.
[28:17] The long-term equity versus making more profits perspectives that Sean and his buyers had.
[30:59] He explains how he transitioned from a CEO to a full-time board member.
[33:20] The importance of working hard and solving a customer’s problems to create a successful brand.
[37:49] He talks about his latest passion for helping small business owners and people with ideas.

Quotes:

“The person who invents the idea isn’t necessarily the one who monetizes it the best way.”- Sean Belnick [36:28]

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Dr. Robin Gaster: How to Approach Selling on Amazon for Business Success

Is it time for you to make the exclusive brands’ partnership program with Amazon? How will having a deal with Amazon to market your brand on their marketplace benefit your brand? Is it worth it or even smart to completely leave it to Amazon to handle your brand on their platform?

In this episode of the Page One Podcast, we have Dr. Robin Gaster to discuss Amazon’s exclusive brands, 3P vs. 1P, and Amazon’s private label. He’s the CEO of Incumetrics, a data and analytics firm focused primarily on innovation, and a visiting scholar at George Washington University. He has a master’s degree in philosophy and a PhD in political science from Berkeley.

Listen in to learn why you should focus on building and strengthening your brand outside of Amazon to become successful. You will also learn why going 3P on Amazon will lead to more success in your business than selling 1P.

Key Takeaways:

Why you shouldn’t rely on Amazon to build your brand.
How to avoid the risk of 1P on Amazon by making 3P successful for your business.
Why the possibility of Amazon’s private-label going away is high leaving it a marketplace only.
The importance of building and owning your brand outside of Amazon.

Episode Timeline:

[1:35] Robin describes the strategy and data evaluation work he does for government agencies.
[5:53] Understanding why Amazon is building exclusive brand partnerships.
[10:50] The disadvantage of Chinese manufacturers selling directly to US consumers through Amazon.
[16:38] Why the idea of Amazon’s idea of building exclusive brand partnerships will not benefit your business.
[26:40] Why Amazon is pushing companies from 1P to 3P and why you should make your 3P successful.
[29:58] Amazon’s private-label business and its difference from the exclusive brands’ program.
[33:23] Why Amazon’s exclusive brand partnerships are more of Amazon’s business rather than building brands.
[39:20] Why Amazon’s private label isn’t significantly growing due to its low unit price.
[42:17] Dr. Robin explains why there’s no possibility of a worthy Amazon competitor now and in the future.
[43:42] Why Amazon should focus on healthcare in the next 5 years.
[45:03] Dr. Robin talks about his book and how it explores the topic of Amazon.

Quotes:

“Make sure you got the right team and don’t try and overpower the team as the founder.”- Robin [4:19]

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How to be a Good CEO That Succeeds in Business Growth – with Jim Schleckser

Are you a good CEO or just an average CEO? Do you look for the point of constraint in the business or just sit around not understanding what the job is? Great CEOs are effective and don’t work crazy hours to meet their goals; they instead look for constraints and work towards untying them to continue growing the business.

In this episode of the Page One Podcast, we have Jim Schleckser, he helps leaders grow companies. He and his team at the Inc. CEO Project work with over 100 CEOs of high growth companies to identify and obliterate the things that stand between them and continued organizational success. Jim has over 30 years of leadership in business strategy, technology businesses, process improvement, organizational development, mergers and acquisitions, engineering, and sales and marketing.

Listen in to learn how to find ‘kinks’ or constraints in your business as the CEO and work towards untying them together with your team. You will also learn the power of crafting a great customer experience for your business to succeed in the eCommerce space.

Key Takeaways:

Why you shouldn’t share all your vision points with your team at once.
How to be a good communicator to your team by meeting them where they are and framing your message how they’ll understand.
How to be flexible with your planning and not be bound by annual planning.
How to build a surprising and fun quality to differentiate your business online and offline.

Episode Timeline:

[1:52] Jim shares his experience climbing Kilimanjaro.
[5:19] The difference between good CEOs and average CEOs in problem-solving and effectiveness.
[7:54] A story of a CEO who pivoted and continued to grow the business during the pandemic.
[11:47] How not to make the mistake of sharing your vision points with the team all at one go.
[16:20] How to effectively communicate as a leader by meeting your message receiver where they are.
[21:22] How to approach new ideas with the team by either shifting or adding the talent.
[26:38] How to craft your customer experience to perform great in eCommerce.
[37:21] Jim explains why they spend most of their time driving for business growth.
[38:48] The importance of innovating and improving your business model to continue growing your business.
[42:17] He talks about his new book Professional Drinking, which is about networking confidently.

Quotes:

“Great leaders are thoughtful about their audience, and they frame and share the message in a way that their audience can receive it.”- Jim [18:43]

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Why You Should Build A Business Around Your Passions

Thinking of starting a business, how about starting one that aligns with your passion? The truth is that you’re more likely to succeed in what you enjoy doing than in something you don’t.

In this episode of the Page One Podcast, Luke Peters speaks with Malcolm Fontier, an industrial designer environmentalist and the founder of Pakt & SeaHive. Pakt creates thoughtfully designed and responsibly sourced travel accessories, while SeaHive helps prevent plastic waste from entering the oceans. Malcolm explains the lessons he learned from a failed business and then designed a business built around his passions.

Listen in to learn the importance of a work-life balance to ensure you remain efficient and productive in both areas. You will also learn why having fewer options in your business will make it easier for you to operate it successfully.

Key Takeaways:

The importance of developing a work-life balance to ensure efficiency and forward progress.
Understanding how having fewer options in your business make running things easier and efficient.
How to create a brand that is more human and is focused on creating great relations with its customers.
The power of optimizing and delegating to be productive, not just busy.

Episode Timeline:

[1:46] Malcolm explains the travel products his business produces, plus the direct-to-consumer business strategy they use.
[4:16] He describes his small team and the tech tools they utilize to run the business.
[6:10] How they give priority to profit margins, sales margins, and producing quality products as their three main KPIs.
[9:00] Malcolm narrates what led to the failure of his first business and how it contributed to him venturing into sustainable travel bag production.
[14:58] How Malcolm balances his work and life by giving his all to both.
[17:18] Why he doesn’t think of his business as a lifestyle business but as something they can build and hopefully sell in the future.
[19:37] Malcolm explains the few options that have made business operations easier for him.
[21:59] How to establish a community of customers around good and long-term relationships.
[26:18] He explains why they focus on being profitable on the first order and breaks down the conversion rate of their products.
[30:59] Why you should pursue a business that aligns with your passion, plus work smart to free up your time.

Quotes:

“Whatever business you’re going to pursue, make sure that the core business activity aligns you’re your strengths and interests.”- Malcolm [31:01]

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Coming to America: What You Need to Know About Expanding Your Business to the US Market

Have you been thinking of expanding your business to the US market? Different markets operate differently due to different trade regulations and consumer behaviors. It is important to have the right information and support when entering the US market to ensure success.

In this episode of the Page One Podcast, Luke Peters speaks with Fernando Cariello about the dos and don’ts when penetrating the US business market. Fernando has 29 years of international experience, 23 years in High Tech, and 16 years supporting IT companies to establish operations in the US. He’s a partner of the incubator CuboStart, under the lean startup concept, and co-founder of Base Miami, an accelerator supporting technology companies to develop business globally using Miami as a platform. He’s also a mentor and investor in technology-based companies, with 9 current portfolio companies, and 4 exits.

Listen in to learn how and why some businesses fail and others succeed in the US market. You will also learn about the common mistakes you should avoid when entering the US market to avoid failure at first glance.

Key Takeaways:

How to understand the difference between your country and the US market and consumer behaviors.
How to use your creativity and start a business in an unpopular niche that makes more money than the popular niches.
The importance of having financial capabilities when expanding your business to the US market.

Episode Timeline:

[2:31] He explains how they help overseas companies that want to operate in the US.
[4:48] How overseas businesses fail in the US for not understanding their market or adopting the US way of doing business.
[7:52] He explains how a Brazilian tech company succeeded in the US market doubling its profits and size.
[9:52] Understanding the difference between your country’s market and the US market, plus the Americans purchasing behaviors.
[13:50] The impact of how trade laws, regulations, and restrictions work in different countries like Brazil and how they work in the US.
[17:54] The importance of starting a business in an unpopular niche since that is where the money is, plus an example in the food business.
[21:56] How to start your business with a business model canvas to help guide you.
[24:45] Fernando explains the common mistakes that businesses make when expanding to the US market.
[27:56] He advises on the importance of maintaining good relationships with the people who closely relate to your business.

Quotes:

“Americans don’t buy based on pricing; they buy based on value and risk assessment.”- Fernando [10:41]

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How to Pitch Products to Major Retailers Plus Surviving the Impacts of the Pandemic

How did the pandemic transform your business’s operations and sales efforts? We have to admit that even with the many challenges we faced during the pandemic, many businesses have adapted through the adversity to become even better in their operations.

In this episode of Page One Podcast, Luke Peters speaks with Matt Damman about the positive and the negative impacts of the pandemic on the newly transformed Commando Lock. Matt is the CEO of Commando Lock company in Michigan, a growing manufacture of military-grade padlocks and security systems, and an entrepreneur.

Listen in to learn how the increase in the cost of raw materials and challenges with labor is affecting production processes. You will also learn the different ways you can pitch your product to major retailers.

Key Takeaways:

How to successfully pitch your products to different retailers
The impact of the raw materials like brass and steel cost increase
The uncertainty in sales performance for most businesses caused by the current world inflation
How challenging times force you to refine your product and become more efficient in what you do

Episode Timeline:

[2:10] Matt describes what they do at Commando Lock, which is manufacturing military-grade locks.
[3:57] He talks about the delays and sales growth they experienced during the pandemic.
[6:40] The big companies they have been able to pitch to over the last several months.
[9:14] He explains how to pitch products to major retailers through cold calling and presentation.
[14:19] How their sales have been performing on different platforms plus how they were shut down on Google.
[20:36] The raw materials cost increase and labor challenges that Commando Lock has experienced since the pandemic.
[27:31] Why Commando Lock is highly contemplating cost increases to cover the production cost.
[29:55] Matt explains their funding through credit and private investors to keep them afloat.
[32:37] How they’ve been forced by the pandemic to become more efficient in manufacturing.
[35:14] Matt explains their plans of getting into Home Depot and not taking out the competition.

Quotes:

“Our products were well packaged. Retail quality packaging. We had UPCs. We were able to walk in and say that we were EDI compliant.”

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Ken Kline: How to Adapt to Changes to achieve a more Profitable Business (From Traditional to Online)

How do you handle changes from a business perspective? How does it affect your goal in achieving a profitable marketplace?

In this episode, Luke Peters speaks with Ken Kline about how his business burned down and resurrected it from the ashes. Ken Kline, is helping clients at all retail levels to maximize their business model while operating with best practice in VHC Brands, Inc. He enjoys working with all levels of the business but has a particular emphasis on Product Development, Sales, and Creative/Marketing.

Learn the value of using mass retail marketplaces instead of traditional, curated retailers. The importance of moving forward despite the big impact of certain problems, its effects in the business, and how to adjust with the changes that needs to be done. The importance of being resilient and being able to find ways to stand out.

Key Takeaways:

How important to implement profit and how you expand your contributors.
How to leverage the major marketplace platforms to become a leader in the field.
The importance of building core data.

Episode Timeline:

[1:52] He describes the types of products that they create and sell.
[2:18] He talks about their biggest customers that they work with, footprint, location, and the number of team members.
[3:23] Talked about the private label in Amazon
[4:16] Talking about if it is a consignment or taking full ownership
[5:26] About square footage and number of team members
[6:12] About where their imports come from
[7:28] The marginal goal that they went and how they set it up
[11:05] Deciding which customers they were contributing the most profit
[14:56] Talks about the price increases, biggest contributors
[16:33] Net margin points gained
[17:36] Talked about the give and take why they moved over
[18:22] Talked about their bottleneck
[22:11] About the core Netsuite
[25:42] NetSuite and managing international warehouses
[33:52] His decision as to why he made the changes and what were the results
[37:04] if there were problems they encounter about jack up prices.
[41:24] How the future looks like and they are in full control
[46:52] What he learned the most that he can share with business owners & Key Business Takeaway

Quotes:

“So, my first piece of advice is if anyone had come out of a business in 2020, not thinking they need some kind of planning, please get a plan.” [48:52]

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Achieving Authentic Business Growth During the Pandemic

What is the strategy to successfully growing a privately owned and funded business, especially during COVID? Hiring the right people as part of your team and striving for authenticity make all the difference in growing a business.

In this episode of the Page One Podcast, Luke Peters speaks with Jeff Thiessen on massive business growth and hiring right during the pandemic. Jeff is the President and International Sales Manager for Dansons Inc. He has held various positions within a hearth distribution company and spent several years learning all aspects of the hearth and BBQ industry, including sales, transportation, and distribution.

Listen in to learn the importance of acquiring and retaining highly valuable people to drive the growth of your company. You will also learn how to approach effective and authentic marketing strategies.

Key Takeaways:

How COVID taught businesses to plan ahead to be prepared for any possible crisis.
The importance of having the right team to help manage things when planning ahead.
How to strategically grow a family-owned and funded business.
The value of hiring leaders and teams for their teachable attitude and skillsets and not their academic achievements.

Episode Timeline:

[2:53] Jeff explains how things worked out for Dansons months after COVID started.
[4:51] How advance planning with suppliers worked out for Dansons during the pandemic.
[7:59] How to expand your bandwidth to handle a business’s demand and supply.
[9:44] He explains how they have been able to strategically manage the business as a family business without any outside funding.
[13:24] How Dansons have grown on socials with influencers and association with other brands over the last year.
[16:09] He explains how they approach in-house marketing to maintain the business’s authenticity.
[18:54] How they strategically market their products not to compete with their retailers.
[21:46] How they highly depend on great leaders and teams to run things smoothly plus prayer.
[24:52] Jeff explains their growth goals, offering the best without focusing on the competitors.
[29:40] The key strategic hires that Dansons has done over the last year as they continue to expand.
[37:11] The importance of hiring people according to their skillsets and the right attitude, not their academic qualifications.
[40:03] Jeff describes how COVID has changed his perspective both professionally and personally.

Quotes:

“Other companies look at their businesses as financial instruments to just make money, we just like making great products so people can interact with.”- Jeff [12:29]
“There’s no fancy software that’s going to help you overcome not having great people.”- Jeff [23:03]

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How to Successfully Turnaround A Failing Business

How do you effectively turnaround a failing business? Many elements including less profits, bad leadership, and a crisis like Coronavirus can lead to a business failure- and it requires a strategic plan, objectives, and goals to complete a successful turnaround effort.

In this episode of the Page One Podcast, Luke Peters speaks with Andy Bailen on how to successfully turnaround a failing business. Andy founded 3Pe Consulting in 2009 and is an accomplished retail and consumer products senior C-level executive. He has an outstanding record of achievement in multi-billion-dollar companies as well as start-up businesses. Andy’s highly experienced in P&L management, strategic planning, business development, product development, global sourcing, finance, private equity, franchising, etc.

Listen in to learn the importance of involving all business stakeholders in the turnaround process for it to be successful. You will also learn the value of having great people working for you as part of your trusted team.

Key Takeaways:

How a company’s leadership perspective can either make and break the turnaround efforts.
The importance of talking to business stakeholders during the turnaround process, to help formulate the holistic view of a business existence then and now.
The value of a robust balance sheet in a business for support during a crisis.
The roles of a business’s leadership, teams, and departments in effecting a successful turnaround.
How to use OKRs to measure goal effectiveness and teams’ performance accountability during the turnaround process.

Episode Timeline:

[2:10] Andy explains how they work in turnaround, temporary retailing, and franchising development.
[3:19] He names some of the big companies they’ve worked with like Blockbuster, KB Toys, etc.
[4:36] How he turned around Party City’s bordering bankruptcy situation to a success story.
[7:29] How growth for the sake of growth instead of profitable growth ruins businesses.
[9:45] He explains how the leadership of a company impacts the turnaround efforts of a business.
[12:03] The steps that Andy and his team take into account during the first week of the turnaround process.
[15:23] Why cash is the biggest concern for businesses to raise a turnaround flag, and not the other metrics.
[17:18] Andy mentions all the KPIs they use, leading with profits and revenue margins.
[22:14] Why businesses failed during the pandemic due to lack of sufficient working capital.
[24:03] How a business leadership contributes to its failure and what needs to be done to have a successful turnaround.
[29:40] Andy explains in detail how they use OKRs to drive for goal effectiveness and teams’ performance accountability.
[35:29] How not to overwhelm the team with many goals and instead start with the high return goals.
[39:55] Andy advises business owners to hire great people and allow them to work.

Quotes:

“In many cases, I found that leadership of a business just simply won’t face the reality that their business is either struggling or even failing.”- Andy [10:14]
“Seventy percent of the time or so the companies are truly in trouble in losing money and burning through cash.”- Andy [14:40]
“Many times, that senior leadership needs to change over to truly effect the successful turnaround.”- Andy [25:22]
“You want to set goals around each element that goes into achieving the high-level goal.”- Andy [33:35]
“You get much greater buy-in to the go-forward plan when you go to this turnaround effort collaboratively.”- Andy [34:25]
“The one element of OKRs that I’ve seen people misunderstand from time to time is putting in immeasurable objectives.”- Andy [38:16]
“Hire great people and let them do the work.”- Andy [39:55]

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Joe Fisch: How to Turnaround a Failing Business into a Thriving Business

How do you turnaround a failing business into a thriving business? How about improving the customer experience and adopting a great team strategy? Gaining back the trust of your customers by putting them first is a great way to turnaround a business.

In this episode of the Page One Podcast, Luke Peters speaks with Joe Fisch on how he and his team turned around Wine Access to a trusted brand. Joe is the CEO of Wine Access, a leading direct-to-consumer online wine retailer offering exclusive curated wines from around the world. He’s the former Vice President of Finance and Administration in the same company and has a background in finance, having served in other organizations.

Listen in to learn the importance of focusing on a customer experience strategy when turning around a company. You will also learn the importance of having great personal and professional support to perform at your best as a leader.

Key Takeaways:

How to transform a failing business into a successful one by focusing on pain points and customer experience.
The importance of having a great management team to help the business move in the right way.
How to let go of control as a leader and trust your team to utilize their expertise.

Episode Timeline:

[2:44] Joe explains how they source the best wine bottles in the world and market through storytelling.
[5:08] He talks about their team size and their KPIs which are focused on customer experience.
[8:09] How they shifted their focus to the customer experience at Wine Access after losing their business pillars for 2 years.
[12:21] How he improved their wine supply by hiring right to make the process smooth.
[14:37] How they improved the website by focusing on the pain points and upgrading the user experience.
[16:37] The value of a great team in changing and driving the business forward.
[18:00] Joe explains how they used their past failures to customers to straighten things out.
[20:46] The importance of having personal and professional support to help you perform excellently as a leader.
[23:09] How they’ve been taking more swings to encourage growth without unrealistic expectations.
[24:53] The infrastructure challenge plus the tools they’re using to help improve operations.
[27:00] The tools and products they use to manage the financial side of the business.
[28:08] How Joe transitioned from financial language to understanding all departments’ languages.
[30:55] Why you should spend more time with people to give you ideas on how to improve your business.
[32:06] Joe advises maintaining the culture of not getting too high or getting too low.

Quotes:

“We’re going to be hyper-focused on what really drives the customer experience and anything that’s not really in that realm we’re going to push aside.”- Joe [11:12]

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Patricia Osorio: How to Use Customer Reviews to Guide Your Business Strategy

Did you know that you can use customer reviews to improve your product? Reviews give a great deal of consumer data that you can use to improve communication or product to fulfill customer needs.

In this episode of the Page One Podcast, Luke Peters speaks with Patricia Osorio, the cofounder of Birdie. Birdie is a SaaS company with a powerful AI platform that captures customer feedback from multiple sources. She is also the co-founder of GVAngels, an angel investor group that invested more than $5 million in several startups, and an active angel investor. Patricia has a background experience with Marketing, Product Management, and Business Development.

Listen in to learn how customer reviews can help you understand the improvements needed in your business. You will also learn why you should first understand consumer problems when dealing with negative reviews before taking major actions.

Key Takeaways:

The importance of consumer reviews in encouraging validation economy and collecting consumer behavior data.
Understanding the consumer data you can get or not get from consumer reviews.
How to monitor, moderate, and reply to customer reviews through a system of engagement.

Episode Timeline:

[2:46] Patricia explains how Birdie helps companies understand their customers’ needs in a constant and deep way.
[3:49] How Birdie focuses on getting feedback where conversations about a brand’s product are happening online.
[5:20] She talks about her education and entrepreneurial background plus how Birdie was started.
[7:02] She describes Birdie’s key metrics that include a healthy pipeline for revenue generation and ensuring proper product engagement.
[9:49] Why consumers require reviews before buying and the importance of reviews for a company.
[11:25] Patricia mentions some interesting sources where consumers are having conversations that are beneficial for your product.
[14:14] She describes some of the things your brand can do to improve your customer reviews.
[16:23] She mentions some interesting insights Birdie’s customers were able to pull out of their campaigns.
[19:27] The type of data you can’t get from consumer reviews and need to combine other strategies.
[21:42] Why you should first try to understand customer problems before acting on a negative review.
[25:04] The three-step process you need to follow to measure KPIs and take action to improve customer reviews.
[29:41] Patricia explains the opportunities they had with their first customer.
[32:02] How to approach hiring talent by showing them your vision and dreams so they can help you get there.
[35:21] The importance of focusing on one thing at a time as an entrepreneur to get the chance to grow.

Quotes:

“If you look at every opportunity at once, you will never get to the first place that you planned to get.”- Patricia [35:45]

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Lauren Picasso: How to Develop an MVP and Raise Capital for a Startup

Thinking of launching a new product into the market? How about formulating an MVP to first test the market? This not only ensures feedback for your product before launching but also helps you understand what to invest in the business.

In this episode of the Page One Podcast, Luke Peters speaks with Lauren Picasso, the CEO, and founder of Cure Hydration, an electrolyte beverage that comes in powder form. She has a background in e-commerce and marketing, having worked in startups like Jet.com.

Listen in to learn the importance of raising capital for your startup at the right time. You will also learn the process of formulating and developing an MVP to experiment with your product before launching.

Key Takeaways:

The importance of sharpening your skills in business before starting one.
The value of having in your team when starting out, someone who’s already done it before.
Why you should prioritize hiring for the roles where you have the least experience.
How to create value for a startup and waiting for the appropriate time to raise money.

Episode Timeline:

[2:08] She explains what Cure Hydration is which is an organic electrolyte mix for oral hydration.
[5:04] She explains how they’re using the LTV metric as the core KPI driver at Cure Hydration.
[7:25] She talks about her background in e-commerce and marketing in retail background.
[8:47] The Grassroot marketing they did when they first started and are continuing to do for their product.
[11:12] Why she started Cure Hydration which is an effective product for active people.
[12:49] The process that Lauren used to formulate and develop an MVP.
[18:07] How they bootstrapped the Cure Hydration brand before launching a pilot based on feedback and engaging investors.
[20:38] Lauren describes the titles of the team that forms Cure Hydration and the roles they each perform.
[22:24] How they’re differentiating themselves by being the only organic product in their category, plus their initial sales strategy before approaching retailers.
[24:38] How investors cared about profitability and cash efficiency during the pandemic.
[27:54] Lauren advises founders to have a mindset of experimentation and creativity.
[29:07] She explains how she was inspired by her father’s entrepreneurial spirit.
[30:41] What Lauren looks for in an entrepreneur before investing.

Quotes:

“What makes really a good entrepreneur is resilience, being able to handle rejection, and believes in their ideas.”- Lauren [30:56]

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Brad Horowitz: How to Approach the Marketing of Your Business in 2021

What does your marketing strategy for 2021 look like? Are you utilizing all the available avenues to get your brand out there without breaking the bank? There are many ways you can reach your target customer and make sales like using social media and leveraging relationships without breaking the bank.

In this episode of the Page One Podcast, Luke Peters speaks with Brad Horowitz, the CEO at Elite Marketing Group. He is a seasoned marketing leader, consultant, and speaker who is focused on delivering results-driven strategies to his clients.

Listen in to learn the importance of measuring marketing metrics and the pitfalls you should avoid falling into when doing so. You will also learn the importance of outsourcing for a consultant to help you with your marketing strategy if you feel overwhelmed.

Key Takeaways:

How to leverage relationships to do affordable and effective marketing.
How to measure your marketing objectives in both tangible and intangible ways.
The importance of hiring a part-time expert to help your business with its marketing strategy on a budget.
Learning how to stand out from the clutter on social media and digital media space to benefit from it.
The value of engaging with your customers on social media or live as opposed to just marketing to them.

Episode Timeline:

[2:10] Brad explains what they do which is marketing brands, products, and services at events.
[3:37] He talks about the types of companies they work with, which is a mix of both startups and large companies.
[4:32] The types of marketing they do in addition to event marketing for companies.
[7:01] Ways you can facilitate further purchasing after the type of marketing you’re engaging in.
[8:36] Brad explains how to measure the outcome of any marketing efforts made by a brand or product.
[11:16] The four common mistakes that businesses make when executing their marketing strategy.
[13:09] Why you should be budgeting higher for your marketing strategy at its initial stages and make sure it delivering.
[15:42] Why you shouldn’t focus on short-term tangible marketing when targeting the first-time sale.
[17:59] How to utilize all available avenues to help with your marketing strategy as well as being the advocate of your business.
[20:50] How to approach outsourcing for a part-time VP consultant to help you with your marketing strategy.
[23:23] Brad explains some of the places you can get freelance/ part-time experts to assist you.
[25:12] The digital trends that are going to shape businesses in 2021 and beyond.
[28:00] The marketing lessons that Brad has learned in his marketing career.
[31:06] Brad talks about a successful event they conducted for Nickelodeon that prompted immediate results.

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How to Start, Scale, And Sell Your Business

What defines an entrepreneur who is able to start, scale, and sell an extremely successful business? Business development requires more than just a strategy; it requires a good plan, a good team, and sufficient financials.

In this episode of the Page One Podcast, Luke Peters speaks with Chris Gules, a veteran entrepreneur and sales expert with multiple successful ventures. He has done it all from how to start, scale, and sell your business. He grew up as a leader in an entrepreneurial environment and used his skills to build multiple companies while maintaining a social conscious to help others. He explains how after scaling and selling a high-performing business, he is now focused on helping other entrepreneurs walk the same path.

Listen in to learn how trust and communication between you, the business owner, and your employees affects your business positively. You will also learn about the power of using technology as a tool to help work on your business.

Key Takeaways:

How to use technology to create a business system that is based on bettering customer service and experience.
The importance of effective message communication within a business to move forward faster.
The value of investing in technology as an essential tool to scale your business.
Understanding the factors that define the multipliers that make your business sellable.

Episode Timeline:

[1:45] Chris narrates his entrepreneurial journey that started at a young age before he started growing and selling companies.
[4:00] He explains how he started a business with a plan of selling it and worked towards ensuring its success long after he exited.
[5:37] How he utilized his ability to start and scale a business before selling to his advantage of financial freedom and early retirement.
[7:06] How his former company used technology to better transportation logistics.
[13:02] How to start and scale a business with the right plan, team, and financials if you want to sell it later.
[16:25] How Chris helps business owners realize what their maximum gains can be on scaling their businesses in all aspects before they can sell it.
[18:44] The business development strategy that he uses to help business owners work on their businesses.
[20:49] The importance of communication and trust between the business owner and employees to help move the business forward.
[26:15] How to utilize the appropriate technology to help scale your business exponentially.
[32:53] Chris explains the factors you should put in place before selling your business, plus how he sold his business with a nine PowerPoint slides presentation.
[40:20] He shares why Carpe diem is his living philosophy.
[42:36] Why a portion of your proceeds and energy as an entrepreneur should go to charity.

Quotes:

"Not how much I sell, but how much I make.”- Chris [14:39]

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Why You Should Build A Business Around Your Passions

Thinking of starting a business, how about starting one that aligns with your passion? The truth is that you’re more likely to succeed in what you enjoy doing than in something you don’t.

Key Takeaways:

The importance of developing a work-life balance to ensure efficiency and forward progress.
Understanding how having fewer options in your business make running things easier and efficient.
How to create a brand that is more human and is focused on creating great relations with its customers.
The power of optimizing and delegating to be productive, not just busy.

Episode Timeline:

[1:46] Malcolm explains the travel products his business produces, plus the direct-to-consumer business strategy they use.
[4:16] He describes his small team and the tech tools they utilize to run the business.
[6:10] How they give priority to profit margins, sales margins, and producing quality products as their three main KPIs.
[9:00] Malcolm narrates what led to the failure of his first business and how it contributed to him venturing into sustainable travel bag production.
[14:58] How Malcolm balances his work and life by giving his all to both.
[17:18] Why he doesn’t think of his business as a lifestyle business but as something they can build and hopefully sell in the future.
[19:37] Malcolm explains the few options that have made business operations easier for him.
[21:59] How to establish a community of customers around good and long-term relationships.
[26:18] He explains why they focus on being profitable on the first order and breaks down the conversion rate of their products.
[30:59] Why you should pursue a business that aligns with your passion, plus work smart to free up your time.

Quotes:

“Whatever business you’re going to pursue, make sure that the core business activity aligns you’re your strengths and interests.”- Malcolm [31:01]

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How to Write Dominating SEO Ranking Content + How to Successfully Bootstrap Your Business

SEO has for a long time been a defining factor when it comes to content marketing for brands. It is crucial for ranking on that coveted first page of Google search results. But what if you’re doing it wrong by thinking it will do it all to market your brand?

In this episode of the Page One Podcast, Luke Peters speaks with Bernard Huang, the co-founder at Clearscope. Clearscope is an AI-powered platform that helps brands create higher quality content and drive more organic traffic. He explains the importance of creating highly relevant content that targets the right audience on specific platforms.

Listen in to learn why Google is set on promoting user intent and converting content rather than clickable content. You will also learn about the difference between bootstrapping your business and taking on an investor.

Key Takeaways:

Factors to consider when thinking SEO for your product that goes beyond the content you put out.
Understanding Google’s future SEO strategy that will highly depend on user experience and results.
How to overcome the competitive barrier by choosing an underserved niche that is SEO focused.
How to successfully bootstrap your business rather than take on investors.

Episode Timeline:

[1:43] Bernard explains how Clearscope helps check if your content has accurately covered the subject matter.
[4:34] How to align your content with user intent and Google to have higher chances of ranking on the first page.
[7:16] Why content won’t do it all to help rank your product in search.
[10:23] The factors to put into consideration when creating content for your brand, especially in its early stage.
[14:49] Understanding the mistakes you should avoid when creating content for your brand.
[18:54] Bernard explains what Google’s present and future look like for SEO and content searchability.
[27:35] He narrates a story of one of his clients who successfully chose a less competitive niche to market his brand through content.
[32:23] Bernard’s advice of whether to bootstrap or take on investment when looking to grow your business.

Quotes:

“The difference between bootstrapping and taking on investors is your own awareness of what kind of company you want to build, and why you want to build it that way.”- Bernard [37:57]

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All You Need to Know About Manufacturing in Mexico and Its Logistics

Think about all the manufacturing logistics and production processes moved from China to somewhere closer to home. Doesn’t it sound fantastic and much easier to have production costs and time reduced significantly if everything was moved to Mexico? Yes, Mexico!

In this episode of the Page One Podcast, Luke Peters interviews Ryan Fernandez, the CEO and co-founder of BRH2 Plastics, a plastics injection molding factory based in Hermosillo, Mexico. He was the CEO and Co-Founder of Boon and Keen Distribution, now referred to as BKD – a subsidiary of Tomy, following the full asset sale to Tomy Inc., a publicly-traded company in Japan in August of 2011. He shares a detailed description of what it means to manufacture from Mexico and how it has significantly made things easier for them at BRH2 Plastics.

Listen in to learn how a business-based relationship between the US and Mexico could mutually benefit the two neighbors solving many of their differences. You will also learn the importance of creating a management style that focuses on people’s growth without also delegating excess authority.

Key Takeaways:

The importance of building relationships that will help make things easier when buying or setting a factory outside of the US.
How to create a style of management that cares for its people and their growth within an organization.
How manufacturing in Mexico has made things easier in production, time, and cost compared to China.
Finding out how to partner with shipping companies with much better rates than small business rates.
How not to give a sense of authority to people beyond what their sense of authority should be as a leader lest it backfires.

Episode Timeline:

[2:46] Ryan explains how he and his team brainstormed to make manufacturing less painful by doing it closer to home.
[6:16] The logistics that were involved to make setting a factory in Mexico possible- from relationships to money.
[8:45] He explains the time it took them to start manufacturing and the types of products they manufacture.
[13:03] How Ryan handles financial strategies as his partner Hector handles the day-to-day operations on the ground.
[15:01] He explains how they’re working towards improving the management style to be about the people.
[18:58] How the supply chain is changing from China and China plus one; to a possibility of completely replacing China.
[20:46] The advantages of manufacturing in Mexico over China in terms of time and cost.
[22:45] He explains how they handle the production process plus the production model they follow from when the order is made until its delivered.
[30:38] Learning how to properly handle shipping and getting better margins from shipping companies.
[33:32] The importance of a business analyst in analyzing the product trends and recognizing what is of importance in your business.
[37:16] Ryan describes what he believes were his biggest mistakes in business.

Quotes:

“The art of delegation is vital and the art of me having people feel fantastic inside the organization, but I’ve learned that you can take that too far.”- Ryan [38:59]

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The Advantages of a Direct-To-Consumer Marketing and Selling Approach for Small Brands

How can you scale your business with a solely direct-to-consumer approach? Having a unique product that has a competitive advantage coupled with an excellent online and offline marketing strategy is what will help you scale without involving a third party.

In this episode of the Page One Podcast, Luke Peters interviews brothers Justin and Christian Arquilla, the co-founders of Gekks brand. Gekks is a growing brand of patented low profile no smell socks. Justin is an entrepreneur, husband, and father of three with a finance background. Christian has a background in private equity and restructuring consulting, he’s a dad of three under 4-year old’s, and a husband. They talk about the idea of starting Gekks and the strategies they’ve put in place in each of their roles to establish a strong brand that is Gekks.

Listen in to learn why raising capital before scaling a business is a much better strategy than doing it after. You will also learn the power of a direct-to-consumer approach to help engage your customers and potential customers.

Key Takeaways:

How selling directly to consumers without third parties helps with direct contact with them and remarketing campaigns.
The importance of engaging potential customers to help get your business out there and make sales.
The importance of establishing a direct-to-customer channel where you can track sales.
The advantages of using an internal marketing team over an agency.

Episode Timeline:

[2:00] They explain what Gekks socks are all about.
[3:44] Christian explains his role in sales and Justin’s operational role, plus the team that makes up Gekks.
[4:46] How they solely handle their fulfillment and shipment on all their orders saving thousands of dollars a year.
[7:59] The inexpensive ERP systems they use to handle the business side of things.
[9:11] Why Gekks is currently not relying on Amazon and is still making huge sales online.
[11:19] They explain the problem they’re having with the reorder rate and how they’re trying to solve it.
[14:37] Where the idea for the no smell Gekks socks came from, plus how their sales shifted from mainly male in 2017 to now making more sales from female customers.
[18:32] The three things you need to implement for your business to succeed in this day and age.
[21:11] The challenges of getting impressions on social media and Google ads over the last few years.
[25:21] How to use engaging branded surveys as a way to attribute sales from the customers.
[30:58] They explain how they have built an internal marketing and advertising team that outperforms any of the agencies they have used before.
[33:04] The mix of suppliers nationally and internationally that Gekks uses.
[36:03] How to approach direct to consumer and third-party selling in 2021 as a new brand owner.
[38:29] Christian explains why not raising money at the beginning of their business was the biggest mistake they made.
[40:08] The advantage of raising capital before scaling a business over doing it after you’ve already started scaling it.

Quotes:

“If your product isn’t amazing and doesn’t have a competitive advantage, people aren’t going to come back.”- Christian [39:34]

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How to Drive for Sales Teams’ Accountability and Distributor Sales with Bridget Lasada

How are you driving for good sales leadership and accountability in your company? A great sales team is able to account for their progress and challenges with each other.

In this episode of the Page One Podcast, Luke Peters interviews Bridget McCarthy Lasda, the Chief Customer Officer of King Juice Company- the owner of Calypso brand of lemonades, limeades, and teas. She’s a knowledgeable executive with a demonstrated history of working in the food and beverage industry and brings 18 years of experience to her current role. She talks about her tremendous experience having worked with big companies like Coca Cola and Heineken sales teams.

Listen in to learn the importance of delegating tasks and giving people opportunities to do a great job as a sales leader. You will also learn why a small company like Calypso finds it advantageous to work directly with distributors over retailers.

Episode Timeline:

Creating sales teams’ accountability tools to share their progress and the challenges they’re facing.
The importance of delegating tasks as a good sales leader and giving people opportunities to do the job.
The difference between working with a big company and a small company’s sales team.
The infrastructure benefits of distributors over retailers for a small sales team.

Quotes:

“For your sales team to grow sales, then you have to show that accountability and you have to be relentless on that follow-up and holding people accountable.”-Bridget [17:42]

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Understanding How to Sell and Succeed on Amazon with Jamin Arvig

What does your performance on Amazon and other marketplaces look like? It is crucial for your business to be on the best fulfillment methods through a well-thought-out strategy for you to be successful in selling your products online.

In this episode of the Page One Podcast, Luke Peters speaks with Jamin Arvig, a thought leader in the world of Amazon who has spoken on Amazon topics at many industry conferences. He is the chairman of the YPO Amazon Group and is one of four co-founders of OnlineMerchantsGuild.com, which is a trade association that represents sellers and vendors on Amazon. He’s the co-founder of AI commerce which powers profitable growth for manufacturers brands, large resellers that are trying to own the online channel before they’re disrupted. Jamin also founded US Waters Filters, the leading online source for water and air filtration products.

Listen in to hear as Jamin explains the different sales options that exist in marketplaces and their distinct shipping options. You will also learn how the Amazon algorithm works and the efforts you can make to drive traffic towards your products.

Key Takeaways:

The benefits of using FBM selling and shipping options over Amazon.
The importance of getting the Amazon prime badge to help boost your traffic and sales as a 1P vendor.
The benefits of establishing and improving the product, marketing, and fulfilling differentiators to keep winning on Amazon.

Episode Timeline:

[2:11] Jamin describes the capabilities he provides to succeed on marketplaces like Amazon in the US and abroad.
[4:19] Understanding the difference between 1P and 3P and FBA and FBM and how they all play together in marketplaces.
[9:15] Why Amazon is the best option for selling and shipping small and light products considering their next day service.
[14:58] Factors to consider when choosing either 1P and or 3P selling and shipping options.
[19:47] How the Amazon system works to drive traffic to 1P and 3P vendors.
[25:05] Why Amazon isn’t likely to give ground in the next five years.
[29:11] The Amazon ‘recipe’ to success through smart cost lowering and advertising.
[33:39] Jamin explains important marketing differentiators that you can apply to drive traffic to your product on Amazon.
[36:35] The challenges of having a prime badge that makes a seller fulfilled prime account beneficial.

Quotes:

“There are ways to drive traffic with the content and there are ways to drive conversion rate depending on how the content is written.”- Jamin [35:07]

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How to Utilize the 4Cs Influencer Marketing Strategy to Create Winning Campaigns for Your Brand with Patrick Lynch

How well are you utilizing influencer marketing to market your brand? Influencer marketing has proved to be very effective in giving results over the last few years and is budget-friendly compared to traditional marketing.

In this episode of the Page One Podcast, Luke Peters speaks with Patrick Lynch, a professor of analytics and leadership for industry 4.0 at the Thunderbird school for global management including how technology and analytics impact customer behavior and brands. He was previously a research fellow in Accenture Think Tank, the institute for strategic change where he pioneered methods for measuring shopper attitudes and behaviors.

Listen in to learn how influencer marketing can help you create very targeted and customized marketing campaigns. You will also learn how shopper behaviors and patterns over the pandemic changed and how small to medium brands are taking advantage of that to get out there.

Key Takeaways:

How to measure campaign results with types of engagement and evidence instead of ROI.
How to create co-operative relationships with influencers to do things you can’t do.
Why people tend to trust third parties talking about a product more than the brand doing it themselves.
The 4Cs to look for when considering influencer marketing for your brand.
How the pandemic changed shopper behaviors and patterns plus how brands changed to adjust to consumer needs.

Episode Timeline:

[4:56] The importance of influencer marketing as a part of a business’s promotional mix.
[6:50] How to take advantage of human visual-context to use imagery when marketing on a social media platform.
[9:51] Creating effective social media campaigns by use of relatable images and attracting the right attention.
[13:21] Patrick explains new ways you can measure things and think about metrics.
[18:24] How to have evergreen marketing materials that are customizable to your audience to create a winning campaign.
[22:19] The advantage of using influencer marketing to create clear, clean, concise, and captivating campaigns as opposed to using traditional marketing agencies.
[25:56] He explains the upsides and downsides of using influencer marketing and digital marketing agency.
[30:40] How to get started in influencer marketing by utilizing yourself or employees to create authentic marketing materials.
[34:28] Patrick talks about the shoppers’ survey results he and his team conducted during COVID.
[38:20] How small and medium brands changed what they were doing to match consumer needs during the pandemic.
[42:29] The importance of having a comprehensive on-me channel strategy to drive customers off the market place to your curated store.

Quotes:

“Measurement is the only true change catalyst and attention is the only true value indicator.”- Patrick Lynch [30:51]

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Affordable professional-grade cookware – with Jonathan Wahl

Episode Summary
Do you have a passion for home cooking but can’t afford high-quality equipment? With Abbio, you can take your home cooking to the next level without breaking the bank.
In this episode of the Page One Podcast, Luke Peters speaks with Jonathan Wahl about cookware, how he has managed to set his business apart from others, and running a successful Direct-to-Consumer business remotely. Jonathan is the founder and CEO of Abbio, a direct-to-consumer kitchenware brand. The business stems from his lifelong passion for home-cooking and the frustration of not being able to find high-quality, high-value cookware. Their mission is to inspire home-cooks by providing affordable high-grade kitchenware, recipes, and educational tools.
Listen in to learn the importance of having a good team, how to plan a successful product launch, and how to leverage influencer marketing.

Key Takeaways

• Why having a larger cookware set doesn’t necessarily mean you’ll be more successful.
• The importance of having a good team.
• Understanding business systems for running a successful business remotely.
• Understanding some of the important KPIs to track.
• Understanding influencer marketing and managing engagements.

Episode Timeline

• [02:28] Jonathan tells us about “the set”, and how they’ve constructed their products to ensure durability and affordability.
• [03:17] Jonathan talks about his team, distribution, and how he’s managing his business remotely.
• [04:45] The three KPIs that are the most important to Jonathan and his business.
• [06:35] Jonathan shares which business systems he uses to run the business remotely.
• [07:43] Why Jonathan got in to kitchenware.
• [09:53] Jonathan elaborates on where they do their sourcing and production.
• [10:58] Jonathan explains why he decided to bypass Amazon and go Direct-to- Consumer.
• [14:07] Jonathan’s strategy on launching products.

• [16:33] How they’re doing influencer marketing, finding influencers, and managing engagements.
• [19:22] The steps for a successful product launch.
• [23:31] Building a remote team to be successful.
• [26:31] Jonathan gives his views on the different variations of non-stick pans and the health safety of their non-stick pans.
• [29:02] How their non-stick pans were constructed to facilitate food searing.
• [31:06] Their biggest win this year, and the lessons they learned.

Quotes

“It’s making sure that you come into the market with an incredible product and then getting feedback from your customers validating that it is, in fact, an incredible product.” – Jonathan Wahl

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How to Build a Strong Brand Awareness and Effective Company Culture- With PackIt CEO Melissa Kieling

What is more important for a new brand; massive revenue or brand recognition? Brand recognition goes a long way especially for a product-based company with an original product that’s looking to be noticed by retailers.

In this episode of the Page One Podcast, Luke Peters speaks with Melissa Kieing, who is the CEO and founder of PackIt. PackIt is the world’s original freezable lunch bag that grew to become a household name. Melissa came from a humble beginning as a struggling single mom to a CEO of the number one fastest-growing women-owned business in Inc. 500 2014. She explains how she utilized the main stream media to create awareness and recognition around her brand for 2 years straight before she got a retailer.

Listen in to learn why it is important to have an entrepreneurial drive and passion to grow your business since it doesn’t feel like work. You will also learn how you can create a strong and effective company culture that involves employees as a huge part of the company.

Key Takeaways:

Embracing an entrepreneurship spirit with employees and giving each team member the responsibility of managing their workload.
The importance of having entrepreneurial drive to enable you to scale your business amid many responsibilities.
How to be comfortable with taking chances and educating yourself to make the right decisions for your business.
How to build a brand through media to get the attention of consumers and retailers.
The power of an effective company culture that involves employees and making them part and parcel of the day to day operations.

Episode Timeline:

[2:04] Melissa explains how she founded her product- freezable lunch bag- as she was struggling to pack her children healthy food plus where they’re distributed across the US and internationally.
[3:42] She describes their team; how they operate with an entrepreneurial spirit, their operational model, and manufacturing in China.
[6:20] How they keep in track with the profitable and nonprofitable sales opportunities.
[7:57] Melissa explains how she was driven by a passion to keep her business soaring even with the responsibility of being a single mom.
[9:58] She praises the woman who has been assisting her all these years and explains how she has contributed to her success.
[11:04] How she learned to be confident as a businesswoman by picking herself and learning from her experiences, not a set roadmap.
[13:32] The importance of seeking help and asking silly questions especially for women business owners.
[14:43] The struggles she went through when pitching to many retailers when she first began and how they used the media to get to the consumer.
[2:18] Why she took on a financial partner to help deal with the massive demand and growth.
[24:07] How and why they transitioned from a retail business to a wholesale business.
[25:20] She describes the company culture they have at PackIt that gives employees an excellent work environment and allows them to be part of all company’s operations.
[28:33] She talks about the product they’re developing working with the eCommerce grocery delivery companies to expand their reach in a renewable and sustainable manner.

Quotes:

“Once you humble yourself and realize that you can make it happen, you can create your own path.”- Melissa [12:36]

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Perfecting the Art of Influencer Marketing- Justin Blaney

Thinking of using social media to market your brand, how about influencer marketing? Influencer marketing is a fairly new industry yet ever-changing and important for getting your brand out there in front of thousands of potential customers.

In this episode of the Page One Podcast, Luke Peters speaks with Justin Blaney about how businesses can approach and utilize influencer marketing as a form of advertising their products. Justin is a speaker, entrepreneur, and bestselling author of 15 books. He’s also a professor at the University of Washington and is followed by a million people on Facebook/ Instagram.

Listen in to learn how to approach influencers on social media to market your product. You will also learn the ways you can track your progress and why your marketing campaign will only be successful if you delegate it to people who get social media.

Key Takeaways:

The power of delegating tasks in helping you keep track of things and details.
How to track metrics when using influencer marketing to understand your progress and improve where you can.
The magic of creating viral content that happens through online sharing.
The importance of creating authentic long-term relationships with influencers on social media.

Episode Timeline:

[2:07] Justin talks about the course he created at the University of Washington called ‘influencer marketing’ and other phases of his career which include being an author.
[4:22] The integrated parts of Justin’s life and how he found a system of hiring good people that help him keep a system.
[6:26] How COVID-19 has unpredictably changed his life both positively and negatively.
[9:25] How to get started in influencer marketing as a business by learning how to delegate it to someone who already knows about social media.
[14:49] How to have a tracking metric when using influencer marketing for your business to know whether it’s working or not.
[19:05] He explains how sharing is everything- the science behind it and how content can become viral.
[25:40] How to approach influencer marketing and develop authentic long-term relationships as a brand with influencers.
[31:03] Justin mentions the best social media platforms to advertise on for B2C and B2B businesses.
[32:40] The tools to use to find influencers online and how to approach them.
[37:12] YouTube versus Instagram- why none is better than the other and it all depends on the product and the approach.

Quotes:

“Social media is still about authentic relationships, including the relationship between influencers and the brand- that needs to be authentic too.”- Justin [28:50]

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Buy, Don’t Build A Company- With Serial Entrepreneur Roland Frasier

Are you thinking of selling your business or maybe buying a business to expand your investment portfolio? You can do so on the sidelines coaching the management team with strategy and still scale higher with the businesses

In this episode of the Page One Podcast, Luke Peters speaks with Roland Frasier about company acquisitions strategies and how he manages to be a serial entrepreneur investing in multiple businesses. Roland is co-founder and/or principal of 5 different Inc. Magazine fastest-growing companies. He’s a serial entrepreneur who has grown 24 businesses with adjusted sales ranging from $3 million to under $4 billion. He is the current CEO of All Channels Media, LLC, and principal in Scalable.co, DigitalMarketer.com, Traffic & Conversion Summit, and more.

Listen in to learn the seven major categories you can approach the acquisition of both companies and assets. You will also learn the importance of strategy over technical skills in the success of a business.

Key Takeaways:

Understanding the system to follow when looking to acquire assets or a company and identifying their existing benefits.
Understanding why business owners stay after selling control of their businesses and why you should stay after selling the majority of your business.
Why you need to only be good at strategy and not the technical skills to be successful in business.
The strategy of buying and selling businesses by not working in or out of them but above them.
The importance of understanding part of business operations to be a good investor.

Episode Timeline:

[3:12] Roland describes how he works toward being his own investment banker and private equity firm plus working as a coach to CEO in companies he invests in.
[5:18] He explains why it is better to buy than start a company to avoid the failure rate that exists while starting a company.
[7:27] The seven major categories of assets and companies and how to approach each when looking to acquire.
[12:53] Roland explains the types of businesses he invests in and those he stays away from.
[17:09] The nine different ways you can run your business passively- handing management over to others.
[22:21] Why Roland describes strategy as the most important skill that anyone needs to be successful in business.
[24:08] The strategy that Roland and his partners use by investing in a competent and temporary team to help get a newly acquired company on track before they leave.
[27:36] The KPIs that Roland and his team look at quarterly through dynamic goals.
[32:54] Roland explains why he’s not a passive real estate investor or business owner but rather the businesses occupying a portfolio slot in his overall investment portfolio.

Quotes:

“If I could only pick one skill to have to be successful in business, it would be to be good at strategy because those technical skills are hirable.”- Roland [23:19]

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How Select Brands Licenses Products with Prestigious Brands Plus the eCommerce Space After COVID-19

Do you want your product to be recognized and be competitive in the market after licensing? Then think of brands that will bring value and prestige to your product, not just any name.

In this episode of the Page One Podcast, Luke Peters speaks with Bill Endres, the owner of Select Brands. Bill decided to leave a career at the executive level after 22 years and now develops private label and licensed products selling to some of the largest mass retailers in the world. He also conducts business with his two sons each contributing differently within the company.

Listen in to learn how the pandemic has unleashed benefits for some industries in the areas of eCommerce and the direct-to-consumer market. You will also hear how companies like Select Brands are going about finding and utilizing manufacturers outside of China.

Key Takeaways:

How they utilize each employee’s capabilities from the US to China through collaborations.
How the pandemic has positively impacted eCommerce in certain industries.
The importance of collaborating with brands that bring value and prestige to your product and not just a name.
The benefits of focusing on what you’re good at as a company and not trying to be everything to everyone.

Episode Timeline:

[1:55] Bill explains the products they develop- kitchen appliances and other products they do private labeling and licensed brands.
[3:14] The unexpected demand they saw during the Coronavirus pandemic after eCommerce took off.
[5:00] Bill explains the COVID-19 measures they still have in place to combat the virus.
[7:05] He explains how they found manufacturers outside China and the time challenges they’ve had due to the production complexities of their products.
[9:28] He explains the size of Select Brands as an international company and the unique operational strategies they use.
[10:55] How they all collaborate to complete a project and the complex process of manufacturing that takes a year.
[14:59] How eCommerce and direct to consumer model has created opportunities for Select Brands to offer new concepts to consumers.
[17:47] Bill explains how and why they moved from the executive level and started developing their own products.
[21:00] He narrates how he found funding to put Select Brands up and running.
[25:09] Bill describes the licensing process and the lessons he learned in investing his product with valuable brands.
[29:57] The lessons Bill learned from his father about business and the roles his two sons contribute to the company.
[34:10] Learning not to be everything to everyone and rather concentrating on one product you’re good at as a company.

Quotes:

“It’s not just putting a name on a product; it’s having a name go on a product that people can recognize that what the value and the utility is and what prestige that brand brings to that product.”- Bill [25:47]

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The Investment Market Status in 2020- with Bryan Piskorowski

It is evident that 2020 has been a hard year for not only the US economy but also the global economy and many sectors have shifted in one way or the other. It is important to note that the current inflation no matter how small has had either long-term or short-term impacts on your investment portfolio.

In this episode of the Page One Podcast, Luke Peters speaks with Bryan Piskorowski on the current investment market and the state of the economy. Bryan is the Managing Director, Head of Advice and Investment Guidance at Wells Fargo Asset Management. He is an accomplished wealth management executive with a proven track record of redefining advice delivery and portfolio implementation.

Listen in to learn what you need to know before investing in bonds in the current economic climate. You will also learn the importance of having an asset manager to help manage your portfolio and save you from emotional breakdown especially now during these unstable economic times.

Key Takeaways:

Why there’s no chance of hyperinflation due to the 2020 pandemic due to lack of rush in the growth of resources.
How to be creative when investing in bonds to continually make money in the current economic climate.
How COVID-19 has changed different sectors’ performance in the last 12 months and how people are now doing business.

Episode Timeline:

[1:44] Bryan describes his career for the last 25 years understanding clients’ needs and building new investment products at Wells Fargo Asset Management.
[5:05] He explains the chances of inflation that exist in our economy in 2020 and 2021.
[11:36] Why lack of stimulus packages won’t bring the economy down but will impact equity prices and the evaluation of equity risk.
[16:24] The importance of having liquidity and short-term credit risk to get past the current inflation in your business.
[19:30] Bryan explains the risks and advantages of investing in bonds in the current economic climate.
[26:09] The potential of having gold as a way to diversify your investment portfolio.
[29:42] How the unnatural buyers were brought out of the dollar market and the state of the USD currency.
[34:10] The impact of COVID-19 in different industries plus the favorable and unfavorable areas to invest in.
[43:08] The volatility of the 2020 market and how to remain optimistic by having an advisor to help manage your portfolio.
[47:10] How to use your past successes and lessons to navigate your future.

Quotes:

“If you know your history, you’ll have a much better chance of being able to navigate the future.” [49:30]

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How to Make Sales on Your Website and Social Media

Your business is currently doing well in sales on Amazon and other places like that, but your website isn’t making any sales, and you’re looking for ways you can improve it to start making those sales, right? Well, you will need a well-thought-out recipe to improve your website and possibly a social media campaign to get full benefits.

In this episode of the Page One Podcast, Luke Peters speaks with Kevin Urrutia about social media marketing and how to improve a website and start making sales online. Kevin is a serial entrepreneur, build brands across multiple industries where he generated $50 million a year in revenue, a podcast host, and the founder of Voy media. Voy Media is a social media advertising agency that helps brands scale with paid social at record speeds.

Listen in to learn the importance of being creative in the social media platform that you advertise on to get the right traffic to your website. You will also learn how hiring great and positive people to be part of your team helps you grow your business.

Key Takeaways:

How to use creativity in your social media campaign to ensure traffic and sales on your website.
The importance of having a profit margin as your measurable value during a social media campaign.
Learning the skill of hiring great positive people that help grow your business.

Episode Timeline:

[1:39] Kevin shares about his book and podcast that are all about digital marketing and spending money online.
[3:25] He talks about how Voy media works on the creative side of paid social media advertising for companies.
[7:55] The recipe to put in place to start selling on your website.
[12:53] Why it is important to be creative on the platform you’re advertising on to get traffic to your website.
[18:07] The two crucial people that you need on your team when doing a social media campaign.
[20:02] Why your KPI when doing a social media campaign should be about metrics and numbers.
[23:15] Why the future of eCommerce is about forming return customers.
[25:13] How they’re partnering with influencers to create content for luggage companies to make organic sales.
[26:31] How Kevin has learned not to forgo opportunity cost when hiring great people for his team.
[27:56] The hiring process that Kevin uses- considering references of the candidate.

Quotes:

“Truly hiring someone that’s great is really going to help you improve your business.”- Kevin [27:09]

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Entrepreneurship 101: Practical Business Strategies by An Expert

Did you know that you can achieve your 10 years of business goals in 6 months through merger and acquisition activities? Interesting, isn’t it? But before buying a business, you have to know how to organically grow it and provide value to shareholders.

In this episode of Page One Podcast, Luke Peters speaks with Neal Asbury about his manufacturing and exporting of kitchenware business. Neal is the CEO of the Legacy Companies, a diversified group of businesses engaged in manufacturing and distribution and doing business in over 130 countries. He also hosts a weekly national syndicated radio show called Neal Asbury’s Made in America.

Listen in to learn the importance of opening up of foreign markets to the American entrepreneur. You will also learn about the strategies you need to consider if you’re thinking of mergers and acquisition activities.

Key Takeaways:

How COVID-19 has changed the remote working spectrum presently and the unforeseeable future.
How mergers and acquisitions help with faster growth of a business and factors to consider before jumping into it.
The importance of having business liquidity and cashflow.
Finding a better public company in your area of operation to benchmark against and shoot for what they’re shooting for.
The importance of opening up foreign markets to American manufacturers.

Episode Timeline:

[2:40] Neal describes his background in manufacturing and what the Legacy Companies do as a manufacture and exporter of kitchen appliances sold to the consumers and the commercial market.
[4:49] He explains his companies’ experience during the COVID-19 pandemic; remaining open and most employees working remotely.
[7:55] How remote working has worked out in the manufacturing industry and its impact on sales.
[16:54] He talks about how Legacy Companies was built with 70 percent coming from mergers and acquisition activities and 30 percent from brands and products he created on his own.
[23:12] What you need to think about when considering whether or not to do merger and acquisition work as you grow your business organically.
[27:23] The simple practices of cash flow and asset management for business owners.
[31:31] The smart strategies you need to apply to your business to start making good money and be attractive to investors.
[42:04] Neal explains why managing a big company is the same as managing a small company- both managers strive for success.
[44:27] He describes why he wrote his book ‘Conscientious Equity’ where he imagined a world where America would compete freely and fairly.
[52:56] Why foreign markets need to be opened up to the American manufacturers to sell in the same way foreign manufacturers are selling to the American market.
[1:00:56] Why the government needs to show up for entrepreneurs and open up foreign markets in the same way others have access to the American markets.

Quotes:

“Whenever you’re building a business, you should be thinking about ‘who would be the buyer of this business’ because we’re not going to live forever.”- Neal [31:38]

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How to Monetize on Consumer Pain Points to Fund Your Business

Does the idea of relying on your customers to fund your business seem appealing than relying on investors? This method has existed for a while now, but it is not widely used for it is deemed risky.

In this episode of Page One Podcast, Luke Peters speaks with Rytis Lauris about his digital marketing company and how they’ve monetized their customer’s pain points. Rytis is the founder and CEO of Omnisend, a powerful marketing platform that allows brands to do way more than send email blasts. He failed on his first two businesses but then learned to use brutal time prioritization and management in both professional and personal to help manage his international company and turn it into a leading marketing automation platform.

Listen in to learn how you can convert your site’s visitor’s into subscribers and eventually to paying customers. You will also learn some tips on how to perfectly manage your professional time while finding personal time to enrich your mind.

Key Takeaways:

The idea of relying on customer funding rather than investor funding.
How to convert your site’s visitors into subscribers and then converting them into buying customers eventually.
The golden tips on how to personally and professionally manage your time as a leader.

Episode Timeline:

[3:52] Rytis defines Omnisend as a retention marketing platform for different channels to communicate with the existing audience.
[6:47] The positive and negative effects of Coronavirus on online businesses.
[7:48] Rytis describes the Omnisend team, the period they’ve been in business, and working semi-remote before Coronavirus.
[10:00] The tools they use to process data and the methodology of using OKRs to set aspirational goals and objectives for the team.
[14:38] How to focus on customers and rely on them to fund your business by monetizing on their pain points rather than relying on investors.
[17:43] The strategy of marketing at the B to C business level and the eCommerce platform Rytis would recommend.
[21:34] Why you don’t need to hire in-house marketing or eCommerce expert.
[23:41] How to build a subscriber’s list before converting them into buying customers.
[27:57] Rytis shares three ways that he uses to manage both his professional and personal time.
[31:10] He talks about his reading habits and some professional books recommendations.

Quotes:

“If you’re solving problems larger than you charge for your service, someone’s going to pay.”- Rytis Lauris [15:18]

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Transforming a Distressing Brand to A Successful One

How do you take a distressed company and turn it into a profitable successful business? What best strategies should you use when doing a complete restarting and transformation of a brand? Transforming a brand from failure to success requires immense work, strategy, and patience from those who are willing to take the chance.

In this episode of Page One Podcast, Luke Peters speaks with Matt Damman about his success in transforming a distressed company and making it successful in a very short amount of time. Matt is the CEO of Commando Lock company in Michigan, a growing manufacture of military-grade padlocks and security systems, and an entrepreneur. He turned the face of Commando Lock.

Listen in to learn how Matt transformed Commando Lock into a quality brand that resonates with the people. You will also learn the importance of recognizing and acknowledging operational challenges that will be more apparent after you start making sales.

Key Takeaways:

How to turn a distressed money-losing company into a profitable business.
How to convince investors to take a bet on a highly risky product.
Learning how to run a company and handle the division of labor during its initial stages.

Episode Timeline

[1:59] Matt explains the size of his company and its customer base online and offline.
[4:18] Why they’re looking into diversifying their client base and not solely depend on anyone plus how they landed a military deal.
[5:54] Matt describes their heavy-duty padlocks, other security product lines, and their future target market.
[8:34] He explains how they restarted Commando Lock Company doing things all over again from the start.
[13:45] How they pitched to the investors using their world-class product even though it was a risky venture.
[17:34] The process they used when relaunching Commando Lock by making the product resonate with the people.
[19:53] How to divide the labor at the beginning when you cannot afford to hire experts.
[22:14] Learning how to deal with operational challenges that are going to arise when your product becomes successful.
[23:26] The process of prototyping that they engaged in before they had a quality finished product within a short period.
[30:12] The lessons he borrowed from working in large companies about operating businesses.
[33:13] The mistake he made with Commando Lock of using one data point and not doing his due diligence before relaunching.

Quotes:

“That’s what I like about being a small company versus the big company, you move quickly and impact change immediately.”- Matt Damman [32:22]

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Understanding the Role of a Venturepreneur

Have you ever wondered what a venturepreneur does? The combination of venture capitalist and an entrepreneur- helping mostly small emerging companies scale.

In this episode of Page One Podcast, Luke Peters speaks with Mark Thomann about his role as a venturepreneur who helps take small brands from $1 million to $100 million in revenue. Mark is an entrepreneur and venture capitalist who has a history of reimagining and relaunching iconic brands. He is the founder of Dormitus Brands and recently founded an early-stage health and wellness fund called Spiral Sun Ventures.

Listen in to learn the importance of small brands looking at the failure of other brands as an example for them to succeed. You will also learn why it is extremely difficult for emerging brands to be profitable unless they exit to big brands especially in the beverage industry.

Key Takeaways:

Learning how to take care of your physical health to be more productive in your professional life.
How to build a brand and a community that continues to purchase your product.
The lessons to learn from failed brands or products similar to yours for you to succeed.
Why emerging brands need significant marketing or to exit to big companies to be profitable.

Episode Timeline:

[2:22] Mark explains why he formed Spiral Sun Ventures as a way to help young entrepreneurs to scale their businesses.
[5:36] How he changed his life-work balance to be more focused on health and wellness.
[9:39] The importance of bringing human capital to impact small companies and take them from $1 million to $100 million in revenue while remaining gritty and entrepreneurial.
[13:28] Why brands need to understand why other companies like them failed plus generating consumer buzz around their product.
[18:36] He explains the size of his company’s investments and how they estimate value.
[21:04] The key things he looks for when helping a company and the growth they have experienced over the years.
[24:31] How to build a company to become a household brand through direct to consumer eCommerce business.
[27:07] Mark explains how they successfully relaunched a soda brand through great marketing.
[34:02] The benefits of natural ways of building brands and communities and building vital relationships
[36:10] Why it is challenging for small brands to make money especially in beverages unless they exit to big companies.
[40:38] He narrates why he failed in a business he acquired from Unilever and why he wouldn’t do traditional advertising anymore.

Quotes:

“If you really know what made a company fail, you’re much better equipped at understanding how to make it succeed.”- Mark [10:10]

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The Art of Purposeful Brand Storytelling.

How do you communicate with your customers with the right messaging? How do you develop that trust relationship that keeps bringing them back? One thing all customers have in common is a pain point, and your product has to first solve it.

In this episode of Page One Podcast, Luke Peters speaks with Ed Lynes on the importance of building a trust relationship with your customers using the right messaging. Ed is the founder of Woden, a strategic messaging agency that helps you build consumer trust and remove friction. He helps transform your brand with a powerful story.

Listen in to learn the areas that you need to target the customer and make a connection that will lead to relationship building. You will also learn the power you hold by understanding customer purchasing behavior and how you can use that to your benefit.

Key Takeaways:

Understanding how to build a relationship with your customers and communicating your purpose the right way.
The importance of creating a brand story that allows your customer to be the hero who understands your product’s pain point.
Learn about the things that are going to help you build better affinity and customer value.
The power of understanding customer purchasing behavior and then aligning your messaging with it.

Episode Timeline:

[3:18] How at Woden they help brands with the right messaging to develop a customer relationship.
[4:18] The three areas to target the customer, make a connection with them, and start building a relationship.
[8:03] Learning how to communicate your brand’s purpose and letting the customer know you understand their pain point.
[11:36] Ed shares a case study of how they helped a company that was suffering from genericide right their customer messaging.
[17:29] How to create a brand story where the customer comes out as the hero with your product.
[21:33] How to articulate your brand’s messaging to make sure that the customer understands the pain point.
[26:53] How to find the motivation and the perception of why the customer is purchasing the product they’re purchasing.
[30:18] How to focus on things you can control with your customer during uncertainty.
[33:55] Ed recommends some of his strategies in understanding people and how to market to them.

Quotes:

“Every brand should know how to talk about themselves in a way that’s clear, compelling, and memorable.”- Ed Lynes [35:37]

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Larry Beger: Making Homes Smart with Smart Technology

What does it take to grow a multimillion-dollar company in a billion-dollar industry? Imagine creating an ever-improving technological system that caters to the consumer and hence increased trust.

In this episode of the Page One Podcast, Luke Peters speaks with Larry Beger, the CEO of Elexa Consumer Products. This is the company that offers the water leakage detectors system and valve controller, Guardian. He has been with Elexa since the late 90s and has driven it to immense successes, some failures, and struggles.

Listen in to learn Elexa’s business model that has enabled them to scale globally and garner much consumer trust. You will also learn the advantages of labor outsourcing and a strong online marketing strategy.

Key Takeaways:

The power of outsourcing labor to cut expenses and have room for flexibility.
The benefits of having a strong online presence as a brand in 2020.
How to use technology to do online marketing and establish customer trust.
The importance of developing a simple product with the consumer in mind.

Episode Timeline:

[2:19] Larry explains how their leak detector works, other products, and how they have improved it with technology over the years to make homes smart.
[6:27] He explains how the sense detectors detect leakage which works as a physical connection.
[7:39] The cost of setting up these technologized leak detectors and other future products that will bring the cost further down.
[9:49] The scale of the business across the world and how they outsource for technical labor through third-party logistics to cut expenses.
[11:17] He mentions their retailers, online market and presence, their internal sales team, and outside sales representatives.
[13:10] He shares a story of how he was surprised when they once made massive sales 2 days after Christmas.
[15:10] Larry describes himself as an idea person and how they have positioned themselves in the market.
[20:22] How they use technology to market and gain customer trust.
[21:56] He explains one of their competitive advantages as the ease of installation and the DIY installation aspect of the Guardian products.
[27:28] How he struggled with the mechanical side of the business when they first started since he wants the customers to get the best.
[31:31] He shares an interesting story of a business failure he made 15 years ago and the lessons it taught him.

Quotes:

“Don’t be afraid to fail, you can always learn from your own mistakes.”-Larry [33:18]

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Adam Craft: Understanding Crowdfunding Product Launching

What is the best way to launch your product- on Amazon or Kickstarter? Over the last recent years, these two platforms have become vital in launching products into the market. Crowdfunding (Kickstarter) is a great way to launch your product faster and gain customer feedback and loyalty.

In this episode of the Page One Podcast, Luke Peters speaks with Adam Craft on how he successfully launched a product on Kickstarter and the journey that was. Adam is the founder of Elevated Craft and his flagship product The Elevated Craft Cocktail Shaker, a design that raised over $472,000 on Kickstarter late last year. He continued taking presales and in just a few months his revenue exceeded $600k from almost 8,000 backers.

Listen in to learn about the process of crowdfunding before, during, and after a product launch. You will also learn the difference between an Amazon and a Kickstarter product launch.

Key Takeaways:

The importance of having backers who take their time to know the product as you take care of them.
The difference between doing an Amazon launch vs. crowdfunding.
The advantage of the one on one customer feedback and loyalty on Kickstarter than anywhere else with product launches.
The importance of having a cool product to attract backers on Kickstarter.

Episode Timeline:

[4:03] How being a student of crowdfunding, and doing a lot of research helped Adam raise money on Kickstarter.
[5:21] How he prepared for the funding by first investing in the product.
[7:03] He explains how he was able to run an aggressive campaign on Kickstarter and sell the product on different platforms.
[11:02] The duration of a Kickstarter campaign and all the work that goes into it- preparing, during, and after the campaign.
[13:39] The importance of the first three-day stage of the campaign and how to prepare for it.
[16:28] Factors that differentiate between Amazon and crowdfunding and why each has unique potential in the success of product launches.
[19:15] Adam explains the aspect of loyalty and true customer feedback witnessed on Kickstarter that is unavailable elsewhere.
[21:14] The lessons he has learned about supply, marketing before launching and planning for enough sample production.
[23:51] The most important things to get effective results from your Kickstarter campaign.
[26:54] He talks about the amateur mistake he made of putting all his trust in one factory and later they failed him and he ended up regretting.
[29:38] How he keeps a big list of product ideas to always have a pool to look at.

Quotes:

“The most important part of the campaign is your first three days, so if you launch your campaign and then you start thinking about running ads, that campaign is probably already dead.”- Adam [14:55]

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Have you tried a more in-person consumer product testing over desk research? How is your product development process, do you keep the consumer in mind through the whole process?

In this episode of the Page One Podcast, Luke Peters speaks with Shauna Lagatol, a 17-year CPG, food and beverage veteran, and the CEO at Spencer Trask & Co. She started her career in bioscience and now drives for business success.

Listen in to learn how Shauna creates and drives a team from freelancers that help come up with innovative products. You will also learn how to create a product with the target consumer in mind by allowing them to personally test the product.

Key Takeaways:

How to be inspired by the consumer when creating a product.
The importance of building a brand by conducting in-person consumer product testing over desk research.
Why direct to consumer approach is the now of brands to connect with consumers.
The process of outsourcing capable team players for your project.
How to work efficiently by utilizing software when working with freelancers remotely.
How to market around trends model.

Episode Timeline:

[3:04] How she led an innovation team to quickly launch multiple products at Nestle Waters.
[4:42] She explains the strategies of getting one on one with consumers that they used when creating those products.
[7:08] The product development process that the team follows before the product is released into the market.
[9:52] She explains the creative ways that both big and small companies can use to get their products tested by in-person target consumers.
[13:37] How in-person consumer product testing helps startups understand their target customer and build their brand at the same time.
[16:41] She explains the strategies that both big and startup companies can utilize to get directly to the consumer.
[20:34] How to balance your strengths and weaknesses by learning what you don’t know and sourcing for help.
[23:26] She explains how she creates a team out of capable freelancers to help with her projects and where she gets them.
[27:12] The difference between large companies and startups in managing teams.
[29:26] She describes her approach to incorporating software to help work efficiently and hold team members accountable.
[32:04] How to launch a product, what to consider, and the benefit of a small company over a big one in product launching.
[34:54] Learning to leverage the current events to amplify your social media strategy.
[37:53] How she has learned to ask deep inquisitive questions to help understand where the other person is coming from.
[40:26] Why she regrets not having written goals earlier in life.

Quotes:

“Direct to consumer is the now of how brands will connect to consumers.”- Shauna Lagatol [16:59]

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Julie Walker: Strategies to Turn Your Retail Business Scorecard Green

Is your buyer’s scorecard green? It is important to add value to your buyer beyond the product you’re selling which will lead you to gain influence.

In this episode of the Page One Podcast, Luke Peters speaks with Julie Walker, she is a seasoned executive with 30 years of industry experience spanning brand management, shopper marketing, sales leadership, and multiunit retail operations. Before starting her own strategic firm, she was the CEO of Shopper Events and spent 24 years at Proctor& Gamble.

Listen in to learn how to validate your product and make the design stand out from the competition. You will also learn the strategy that will get you the attention of the buyer and fulfill their expectations of your business.

Key Takeaways:

The importance of forecasting a product’s performance in the market rather than focusing on its distribution.
The importance of hiring an agency to help your business get attention from a potential buyer.
The major mistakes that happen in the top to top meetings and the right thing to do.
Learning to align and support your buyer’s business culture.

Episode Timeline:

[0:34] Intro:
[2:44] She talks about the situation with the companies that she helps during the pandemic.
[3:39] How she’s helping struggling companies to understand the market and accessing their capabilities.
[5:43] The industries that are unexpectedly doing better than it was initially anticipated.
[7:30] How to evaluate the context of a product when designing to stand out from similar products.
[10:57] How to avoid legal problems with competitors plus validating why your product would be buyable.
[12:42] Learning to start with the end in mind before launching a product.
[15:03] How to get a buyer’s attention when you’re a small company by hiring an agency plus when to know they’ll work for you or not.
[17:05] How to add value beyond the product you’re selling to gain influence by going green on everything on the buyer’s scorecard.
[18:13] Some of the things that are in the buyer’s scorecard that as a business owner you don’t think about.
[19:32] The meaning of the top to top business planning and it’s relation to your business leadership.
[23:31] The importance of understanding where you fit in the buyer’s ecosystem to better get an idea of their expectations of you.
[24:28] How to fulfill the expectations of your buyer while aligning and respecting their culture.
[27:54] Julie advises those in retail and or planning to join the retail business.

Quotes:

“Build a plan to add value beyond the product you’re selling, to gain influence.” - Julie Walker [17:11]

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How First-Generation Immigrant Jenny Zhu Created the Massive Triangle Homes Fashions from Scratch.

In a business that deals with warehouses from India and China to manufacture their textile products, there has to be an incredible business model, right?

In this episode of the Page One Podcast, Luke Peters speaks with Jenny Zhu about her home décor textile business Triangle Homes Fashions. She is a first-generation immigrant who has turned Triangle homes into a massive company in only 10 years and now sells to major retailers plus 40 others. She graduated in 2005 summa Cum laude from the Fashion Institute of Technology before founding Triangle Homes in 2008.

Listen in to learn the business model she uses with manufacturing factories overseas while taking care of the business side of things in the US. You will also learn the strategy they use at Triangle Homes to keep business running smoothly during the pandemic.

Key Takeaways:

How to use the ERP system to get the business data that helps you plan ahead.
Learning to overcome challenges in a foreign country and rising to start a leading business.
How to differentiate your brand to stand out in a saturated market.

Episode Timeline:

[0:29] Intro
[2:01] She explains the home textile products that Triangle Home Fashions creates and distributes when she founded the company, and their business model.
[3:29] How the COVID-19 has affected their operations from working from home to how they establish warehouse guidelines.
[6:27] She describes how they prepared for the COVID-19 by manufacturing early and shifting the process from China to India.
[9:41] The business model they use with their warehouses and shipping of products and what they’re looking to change in the future.
[13:30] How they build a great ERP system to give them data to analyze different skew performance.
[16:17] She explains where she spends her time in the company as the CEO while helping the team steer the company forward.
[19:21] She narrates her childhood in China, the challenges she faced after her move to the US plus pursuing a career in the textile home décor field.
[25:51] She explains how they differentiate their Lush Décor brand from similar décor brands.
[31:48] The methods they use to skew inventory to get solo inventory turn goals.
[35:35] She describes how she has had a hard time balancing work and life as an entrepreneur.

Quotes:

“We offer our customers some inspiration, we believe the customer will have a sense of what it is they want and we help them to find it and create the home of their dream.”- Jenny Zhu [25:57]

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How to Strategically Plan for The Rest Of 2020 in Every Aspect With COVID-19 In Mind.

Hiring is sometimes where many leaders fail when they choose to delegate that process to recruiters when they should do it themselves. Leaders should also focus on the core and the people as a strategy to continue growing the business.

Jeff Grogg is the founder and managing director of JPG Resources and has founded businesses in spaces ranging from athletic training to alcoholic beverages, in contract food manufacturing, to a new food venture fund. He has 25 years of experience as a leader in the natural food and beverage space.

He shares his background and experience in the food industry and his strategy in acquiring and investing in small businesses. Listen in to hear advice on what to focus on for struggling small businesses during the Coronavirus pandemic.

Key Takeaways:

The power of a great team and input for business growth and leadership efficiency.
The importance of hiring better people than you as a leader.
How to make hard choices as a struggling business and focus on cash management and profitability.
The science of abnormal supply chain explained.
How to find high-quality deals in the right places for companies looking to acquire.
Learning to simplify, focus on the goal, and focus on the people during hard times.
A badly managed business vs a strategically managed business.

Episode Timeline:

[0:29] Intro
[1:57] He has a background in food science and has found himself in both food and business management.
[2:44] He credits teamwork and great input for his efficiency.
[3:37] How he has scaled to afford people who are better than he is so he could move on to where he can add more value.
[4:50] He describes different performance for different companies that he helps during the Coronavirus.
[6:21] How to find actionable and aggressive ways to save struggling businesses.
[7:38] He explains what JPG does in the food industry and helping other companies.
[9:20] How he grew JPG through referrals and marketing even before he started.
[10:37] He talks about the recent exciting project he’s worked on growing a small business to greater heights.
[12:25] Why the supply is functioning differently because they’re built for a different market place than what is existing right now.
[15:43] He describes qualities of the companies that they’re looking to fund and the deals they’re looking to acquire.
[17:42] How they leverage networks that help them acquire higher-quality deals.
[20:05] How he has learned to focus on the core goals and the wellbeing of the team during the COVID-19 pandemic.
[21:00] He explains how he lost a plant after failing to manage it in the right way.
[23:27] The process of hiring the right person for overall business success.
[25:16] How to focus on discipline and simplicity when striving for business growth.

“Do what you do best, do it really well, do it profitably.” -Jeff Grogg [25:30]

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How to Leverage Opportunities and Build an Authentic Brand

Authenticity is something every new business should be striving for when branding. In the era of social media, your followers should translate to engagement and sales at the end of the day which is a good marketing strategy.

In this episode of the Page One Podcast, Luke Peters speaks with Ryan Close, the founder, and CEO of award-winning intelligent hardware and consumer package good startup Bartesian. He is a former bartender, life-long entrepreneur, and passionate collaborator who has taken an idea from the garage to global.

Ryan shares how his product Bartesian increased sales tremendously during the Coronavirus period and the marketing strategy they used. Listen in to learn the investor and partnership strategies that Bartesian leveraged to get funding and grow to what it is today.

Key Takeaways:

How to be authentic and engage customers to grow your business online.
How to approach the strategy of looking for a partner.
The masterful art of creating a product that sells itself.
The benefits of doing something uncomfortable to become stronger and independent in what you’re doing.
The qualities of a good leader that leads to team success.
How to delegate tasks only to people who are aligned with your business mission and goals.

Episode Timeline:

[0:29] Intro
[1:51] He explains in detail what is Bartesian and how it functions.
[4:21] How the Coronavirus has impacted Bartesian positively seeing their sales increase up to 450%.
[6:33] How Bartesian got free publicity from a viral TikTok video which was a huge booster for their brand and sales.
[7:58] He explains how authenticity leads to customer engagement.
[10:34] How they leverage the strategy of a small team that is productive.
[11:41] He shares his investor story which took years of looking for funding and forming strategic partnerships.
[18:01] How he perfected the design of the product by leveraging their partner.
[21:40] How he launched Bartesian with Quickstarter.
[23:54] Studying in Singapore and what that taught Ryan businesswise.
[27:17] How he learned to be a good leader by joining the team rather than telling them what to do.
[30:128] Learning to balance the fire inside of you as an entrepreneur and allowing things to take the course.
[33:22] How to be candid with how you’re marketing your business and providing authenticity.
[35:12] How he initially made the mistake of trusting the wrong person with his business.

Quotes:

“Anything that could make you uncomfortable, is going to make you better.” -Ryan Close

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Rapid growth from 5 Business Acquisitions & eCommerce Growth during COVID

Innovation and differentiating are ways that ensure success in any industry and especially in an industry like homeware. These may include coming up with new designs and utilizing technology to the maximum.

In this episode of the Page One Podcast, Luke Peters speaks with Steven Greenspon, the founder and CEO of Honey-Can-Do international. A leading provider of home storage, organization, garment care, ethnic cuisine preparation, and other housewares.

Steven shares the strategies that his company utilizes in its operations that makes it different from other homeware companies out there. Listen in to learn the process of acquiring smaller companies and why Steven believes it might be harder than acquiring mid-sized companies.

Key Takeaways:

How to set up an effective work-from-home strategy for your employees during the Coronavirus period.
The importance of investing in potential retailers and having effective communication.
Learn how you can manage your time effectively attending only to important things.
The advantage of having honest effective employees.
Understanding the acquisition process of new companies and what to look for before acquiring.
How you can innovate and differentiate in your industry to make your products unique even in a common industry.

Episode Timeline:

[0:29] Intro
[2:20] He explains what his company does which is primarily a home storage organization.
[3:38] How Honey-Can-Do International took early steps to deal with the COVID-19 to keep things running smoothly while still protecting the employees.
[7:12] He explains how their working from home strategy has worked out perfectly.
[10:19] He gives information about the size of the company’s workforce and its physical location.
[12:10] How they deal with consumers directly through eCommerce and with specific retailers.
[13:28] The growth in the eCommerce sector and investing in growing and potential retailers.
[15:09] He talks about the challenges of dealing with retailers.
[19:25] Steven explains how he effectively manages his personal and professional time.
[21:38] Why he loves his position as the CEO and the tasks he performs to ensure company growth.
[24:38] He describes the networking show held by the IHA organization that brings housewares companies together.
[27:55] He speaks about his time at the LDR industries and the cause of his eventual leave.
[31:07] The process of acquiring other businesses and how to differentiate them.
[36:35] He describes the emotional attachment of smaller companies that makes it difficult to acquire.
[38:34] How they’re innovating and differentiating in a common industry like homeware.
[42:03] He shares the mistakes that cost the company money by trusting incompetent employees.

Quotes:

“We learn something new in the process of every single acquisition that we’ve done that we see this as a great opportunity for the future in terms of growth.”- Steven Greenspon [34:49]

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The Strategies of Starting and Managing Profitable Businesses During the Coronavirus Pandemic.

What does it take to run a seasonal business that is prone to any disasters like the COVID-19? What if there are effective strategies that can change people’s minds about buying even though their reasons for buying change?

In this episode of the Page One Podcast, Luke Peters speaks with Kim Strassner about her business and how it has been affected by the pandemic. Kim is the co-founder of Words with Boards, an online gift shop that deals with unique wooden personalized and custom products.

Listen in to learn the online strategies that Kim has used during the pandemic to lift her company from making losses earlier in the year to make

profits now. You will also learn how to recognize a need that can turn into a profitable business opportunity.

Key Takeaways:

How to use SEO on your website to attract buying customers without paid ads.
How to take advantage of a need in a certain niche and start a profitable company to solve the problem.
The importance of effective PR campaigns to build credibility and grow sales for your company.

Episode Timeline:

[0:35] Intro
[1:41] Kim describes their personalized products at Words for Boards all made in the USA and their tree planting initiative
[2:30] She explains what makes their products different from any other in the market.
[4:19] The effects of the COVID-19 pandemic on their business and the online strategies they have used to improve that.
[7:33] How they started a face mask company when they saw a business opportunity.
[9:03] How they generated $100k in sales in 3 weeks with their new company through word of mouth and press mentions.
[11:42] She describes the manpower of her company plus the comparison of sales between the website and other means.
[13:32] She mentions some of the PR strategies they have been involved in that brought immense sales and credibility.
[16:02] She narrates the story of how she lucked out with focused and effective employees.
[17:59] Why they plant a tree for each product purchased through their website as something they believe in.
[19:49] How to communicate to your customers with authenticity during this time.

Relevant Links:

Websites: https://wordswithboards.com/ & https://qualitymasksupply.com/

LinkedIn: https://www.linkedin.com/in/kim-strassner-573624101/

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How to Bootstrap and Build A Lasting Company

The e-commerce world is a very competitive one, which means you need a strong brand strategy to establish a long-lasting business.

In this episode of the Page One Podcast, Lou speaks with Steven Hong, the self-titled Chief Bandito at his company Discount Bandit, an online shopping service that matches up discount shoppers to retailers. Steven is a serial entrepreneur in the e-commerce space and has founded multiple e-commerce companies.

Steven shares the immeasurable value of investing in a strong brand strategy that is more long term as compared to brand performance. Listen in to learn the importance of having an effective company culture in ensuring every employee is encouraged and determined to work.

Key Takeaways:

How to use traditional digital marketing by targeting the right customer hence creating a brand presence and a loyal following.
The business model of targeting to make nothing on the first transaction.
Questions to ask yourself when building a lasting business.
The value of a brand strategy that is a more long term than brand performance.
How to value your employees by influencing the company culture.

Episode Timeline:

[4:08] The impacts of Coronavirus to mid-sized companies and employees.
[5:42] The negative effects of Coronavirus against Discount Bandit.
[10:40] He explains how they use digital marketing to specifically target the right customer.
[14:39] The importance of building a die-hard fan base even when it means losing money during that first transaction.
[17:21] How to create value, culture, and be technology-focused to build a longer-lasting business.
[22:17] How content marketing helps with long term brand recognition and lots of respect from manufacturers.
[25:15] The importance of getting the company culture right.
[26:43] How to hold company values to uplift the company culture
“I think that culture is one of the few sorts of sustainable competitive advantages that a company can have.”- Steven Hong [26:01]

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What Does It Take to Be A Giant Egg Retailer?

Do you know how egg farming works? The process that comes before you get it from your nearest retailer?

In this episode of the Page One Podcast, Luke Peters sits with John Brunnquell as they talk about what it takes to sell and grow inside retailers in the specialty egg industry. John spent his entire career in the egg industry founding Egg Innovations in the 1990s.

He shares the positive impact they have experienced in the retail egg industry due to COVID-19 and how that will work in the long-term. Listen to hear the different types of hen farming methods and the contribution each makes in the egg industry in the US.

Key Takeaways:

How the dramatic short-term changes that have occurred due to the pandemic.
Learning to deal with the increased demand for a product over a short time.
The integrated model of chicken farming when it comes to dealing with divisions of large retailers.
The difference between cage-free, free-range, and pasture-fed chicken and their percentage in the American chicken market.
What it takes to get freed space and win huge grocery companies across the country as a brand.

Episode Timeline:

[0:34] Intro
[2:22] He tells the history of how Egg Innovations was born.
[4:02] How the COVID-19 has positively impacted the egg industry with a 40% increase in the traditional value.
[6:33] The two sides of the egg industry- the increased sales of retail and decreased sales of wholesalers.
[7:32] The ways they’re using to build up their inventory to cover for the oversupply.
[8:51] The impact of the current situation on the retail market in the long term.
[9:55] He explains how they use the integrated model to run the business at Egg Innovations.
[13:12] He talks about the marketing plans they have to create more brand awareness.
[13:56] He explains the difference between cage-free eggs and free-range eggs.
[15:36] Does the use of antibiotics on a bird make it inorganic?
[16:33] He explains the percentage of chickens that are consisted of each category.
[20:21] He explains how he gets freed space and what it takes to win groceries.
[21:42] Where you can find Blue Sky across the country.
[22:54] What is the truth about the relationship between eggs and salmonella?
[25:29] The backyard hobby of raising hens and its non-economic impact.

Relevant Links:

Websites: https://www.egginnovations.com/ https://www.blueskyfamilyfarms.com/

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Are you familiar with the process of companies joining private equity or being acquired instead?

In this episode of the Page One Podcast, Luke Peters speaks with Alix James, the accomplished CEO of Nielsen-Kellerman company that is a designer and manufacturer of weather stations. She talks about why Nielsen-Kellerman joined private equity and later acquired three different companies to be run under the same umbrella.

Listen in to learn how COVID-19 has affected both their supply and sales as a manufacturer.

Key Takeaways:

The work that goes into getting acquired business run smoothly after closing the deal.
The impact of COVID-19 on the supply and sales of manufacturers in the US market.
How to be smart as a business when planning for the future post-Coronavirus.
How to manage and market for different companies under the same umbrella.

Episode Timeline:

[0:34] Intro
[2:05] She talks about the birth of Nielsen-Kellerman company and what they do.
[3:50] She explains why they joined private equity when the business was roughly 30 years old.
[6:04] How they were able to acquire some businesses after joining private equity.
[8:34] How they are working towards separating all 3 company domains and the benefits of it.
[9:54] The effects of COVID-19 on their supply chain since they outsource electronics from China even though it’s not one of their major problems.
[13:09] How Ambience weather products sell directly to consumers and the cost that the consumer should expect for the products.
[16:23] She explains how the COVID-19 has affected the variability of sales.
[19:20] How they’re planning for the future Post-COVID.
[26:54] She talks about the scope and size of the NK company and the recognition they have received from their clients.
[30:12] The management strategies for each of the companies under the NK umbrella.
[35:16] She gives the percentage of the varied sales they make on amazon and directly.
[38:05] How brand familiarity is working for them in online marketing.

Relevant Links:

Website: https://nkhome.com/

LinkedIn: https://www.linkedin.com/in/alixjames/

Email: ajames@nkhome.com

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What you’ll learn:

In this episode of the Page One Podcast, your host Luke Peters talks with Jules Pieri, the co-founder and CEO of The Grommet, a managed marketplace. Jules begins by describing how the company works and touches on how coronavirus has impacted The Grommet and different ways that Jules is working hard to care for her team during the crisis.

In the second half of the episode, Jules discusses the main differences between The Grommet and Amazon, her perspective on using social media like Pinterest and Facebook, and the opportunities that Amazon’s shortcoming open up for businesses like The Grommet. Finally, she and Luke talk about the takeover of large companies like Amazon and changes that need to happen to protect smaller businesses.

About our guest:

Our guest, Jules Pieri, is the co-founder and CEO of The Grommet. Educated at the University of Michigan and Harvard Business School, she has gone on to compete with huge companies like Amazon and start The Grommet, a site that has launched more than 3000 innovative consumer products since 2008. The company's citizen commerce movement is reshaping how products are discovered, shared, and bought.

Jules is one of Fortune's most powerful women entrepreneurs in 2013 and won Goldman Sachs 100 most interesting entrepreneurs in 2014. She is an Entrepreneur in Residence Emeritus at Harvard Business School and an investing partner at XFactor Ventures.

She also happens to be an author! Jules’ first book, “How We Make Stuff Now: Turn Ideas into Products That Build Successful Businesses,” was published by McGraw-Hill in April 2019.

Key takeaways from this episode:

How The Grommet has handled coronavirus and Jules’ strategies for taking care of her team during this time
The differences between The Grommet and Amazon
The centrality of product videos on The Grommet’s website
Jules’ view of using social media like Facebook and Pinterest
How Amazon’s shortcomings open opportunities for companies like The Grommet
How to protect against cheap, counterfeit manufacturers and changes that need to take place to protect businesses

Episode Timeline:

0:55 – Luke introduces today’s guest, Jules Pieri

1:50 – A description of Jules’ company, a managed marketplace

3:58 – How coronavirus has impacted Jules’ and The Grommet

6:38 – Business changes during the pandemic, meetings, and communication

12:43 – The Grommet staff and warehouse locations

14:48 – Jules’ personal strength: designing and creating

15:28 – The differences between The Grommet and Amazon

20:49 – The Grommet’s site traffic and conversion rate

24:00 – How The Grommet uses product videos on their website

25:12 – How The Grommet uses social media like Facebook and Pinterest

27:03 – Jules talks about the best consumer product opportunities

29:00 – What opportunities does Amazon open up for competitors?

31:09 – Jules’ perspective on the changes needed to protect companies

37:00 – “How We Make Stuff Now” by Jules Pieri

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How seriously are you taking your branding strategy? Are you consistent and authentic with it?

In this episode of the Page One Podcast, Luke Peters speaks with Hannah Robbins, a branding expert who has worked with major brands like Coca-Cola.

She shares the tips to creating an authentic and consistent brand that communicates to consumers especially during the COVID-19 period. Listen in to hear how she helped in the rebranding process of the Maple Hill Creameries company and turned it around.

Key Takeaways:

How to be flexible, adaptable, and listen to what the consumer is saying in the marketing world during the pandemic.
How to be consistent to create authenticity with your brand.
How to define the core product and service to drive loyalty and purchase from the target customer.
How to be specifically targeted through social media.
Recognizing what your core values are to drive a scalable positioning for your business.

Episode Timeline:

[0:30] Intro
[3:08] How COVID-19 is affecting the marketing world and how it is being handled.
[5:33] Can a brand be humorous with Coronavirus when marketing?
[6:42] The steps to take to create authenticity with your brand.
[10:36] How to create your brand’s core values.
[12:43] Why it does not matter to give back if your product or service is not performing well in the market.
[15:33] She talks about how she helped revitalize the Maple Hill Creameries brand.
[18:44] How long does the process of rebranding a company take?
[22:06] How to maximize your budget and do specific targeting when rebranding.
[25:34] What is PINCHme.com and does she do with them?

Relevant Links:

LinkedIn: https://www.linkedin.com/in/hannahrobbins/

https://PINCHme.com

https://www.maplehill.com

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Have you applied for the PPP fund? Did you know there’s still time for you to apply? But wait, before you apply, there are some things that you need to keep in mind.

In this episode of the Page One podcast, Luke Peters sits with Frank Kaufman as he talks about the PPP fund and all that you should know before and after applying and whether you will be forgiven or not.

Frank is the retail national practice leader at Moss Adams and chairs the firm’s Paycheck Protection Program Technical Resource Group. He has been serving clients in the Retail and Direct to Consumer channels since 1983.

Listen in to learn about the PPP forgiveness and the mistakes you could be making in that process.

Key Takeaways:

When the PPP fund is forgiven and the time it will take to start repaying if it’s not.
Understanding the law behind the PPP fund.
The elements of the buckets of PPP fund forgiveness.
Why you need to go apply for the PPP fund if you haven’t already.
Understanding the 11 months loan forgiveness process.
How you can use your PPP fund for the liquidity of your business.
Other programs aside from the PPP that you can apply for a loan from.

Episode Timeline:

[0:30] Intro
[3:02] He explains how different retail businesses his company represents are performing amid COVID-19.
[4:30] He describes Moss Adams- their span and whom they serve.
[7:05] He explains in detail why the Paycheck Protection Program (PPP) has delayed.
[9:01] Why you need to be smart in how you spend your PPP fund which can either be forgiven or the time you need to prepare before starting to pay it off.
[11:54] Understanding when taking the PPP loan money can lead to breaking the law and where you get protected.
[14:57] The two buckets that are considered when it comes to forgiveness.
[16:27] The missing elements that are not too obvious in the two buckets of forgiveness.
[19:32] He explains the methodologies that you can use to calculate and help impact your forgiveness amount.
[20:57] How you can count employees that did not come as though they came back.
[23:18] He mentions some of the common mistakes that borrowers are making that could hurt their loan forgiveness process.
[26:05] How the PPP money can become an equity contribution to your business if forgiven.
[28:48] He describes ways in which you can improve your company’s liquidity.
[31:25] How the digital economy and fear of losses from banks is going to affect how investors will view businesses in the future.
[33:50] The changes in the investment’s patterns now and in the future due to the COVID-19.
[36:28] He mentions some other programs that you can apply to aside from the PPP or even if you get it.

Relevant Links:

Email: Frank.kaufman@mossadams.com

Website: https://www.mossadams.com/

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What you’ll learn:

Have you tried onsite gifting for your company events?

In this episode of the Page One Podcast, Luke Peters speaks with Tom Romine, the founder and visionary leader of Cultivate. This is a company that brings new ideas into the world of corporate gifting.

He describes how his company gives meaning to the process of gifting by the use of new and exciting ideas that makes it personalized. Listen in to learn how Tom’s company is handling gifting virtually during this pandemic period and the difference between that and onsite gifting.

Key Takeaways:

Understanding how virtual gifting works and how to accomplish it.
Learn the types of gifts that are appropriate for both your customers and employees.
The sales and marketing process of an onsite gifting company.
Factors to consider before gifting your employees to make it special.

Episode Timeline:

[0:30] Intro
[2:17] Tom explains the onsite gifting concept that his company specializes in.
[4:05] How the COVID-19 has affected the hospitality industry and how they’re handling it.
[5:45] Using creativity when gifting employees during COVID-19.
[10:00] Tom explains how their sales and marketing process works.
[14:14] What are the factors to consider when choosing the type of gifts to give your employee or customer.
[19:28] The type of items to gift virtually.
[22:56] Tom tells a fun story of how they handled a company’s small budget gifting event that turned out great.
[25:22] The destinations that they have been to.

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Episode References: https://cultivatepcg.com/

Contact Tom Romine: Linkedin

Contact Luke: luke@retailband.com + LinkedIn

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Relevant Links: Website: https://cultivatepcg.com/

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What you’ll learn:

As businessowners and entrepreneurs, we’ve all negotiated with someone—whether that be buyers, clients, or manufacturers. Just two months into COVID-19, and you may also be considering a renegotiation with your landlord of your office lease—if you haven’t done so already. Here to guide us through negotiations of all kinds is negotiation ninja Daniel Duty. Daniel lead the negotiation to get Starbucks into all of Target’s stores. He knows a thing or two on how to build partnerships, leverage power, and craft a solution that meets everyone’s needs. Listen for endless tips on how to approach your next negotiation.

About our guest:

Daniel built the Business Partnerships and Negotiations team for Target where he developed its negotiations and partnership strategy and implemented a variety of tools and frameworks, creating billions of dollars in savings, growth and innovation.

Daniel has led hundreds of negotiations with companies like Nestle, Hasbro, and Unilever. He developed strategic partnerships creating innovative new products and solutions with organizations like P&G, Starbucks and UNICEF.

Prior to joining Target, Daniel negotiated on behalf of US Senator Paul Simon, the US International Trade Commission, General Mills and other organizations.

Key takeaways from this episode:

The most common mistake companies make when negotiating with buyers and vendors—3:10
3 tips for renegotiating your lease in the time of COVID-19—5:52
How to maintain partnerships during an email or non-verbal negotiation—8:48
What is the right approach to negotiating a China tariff price increase? —12:28
How to leverage your differentiation in the marketplace to buyers—16:03
A guide to more successfully pitching your brand to Target—17:14
Negation trends: what is working today and what isn’t—21:00
How to determine if your buyer is using negotiation tactics or tricks to get you to lower prices—24:12
The importance of being honest and knowing your rank as a supplier—26:06
The top factors that buyers look for when considering a quote supplier—28:40
The 3 sources of leveraging power during a negotiation—30:18
How a negotiation coach will help you grow top line and grow bottom line as an organization or business of any size —36:07

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Episode References: Conlego

Contact Daniel Duty: daniel@conlego.com + LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

If you own a small business or startup, you most likely cut your marketing budget to extend you cash flow through this COVID-19 pandemic. You are most likely also figuring out how to pivot your marketing strategy now that your retailers are closed, cash flow is tight, and customers are turning to ecommerce marketplaces. On today’s episode, we interview a new business owner with a small company to talk you through these very issues.

About our guest:

Karina and Jared Rabin are the co-founders of a popular all-in-one picture hanging tool called the Hang-O-Matic. They sold their dream home in Orange County in order to self-fund their product and get it into major retail stores like Hobby Lobby, Menards, and Home Depot.

Key takeaways from this episode:

What is the Hang-O-Matic? The tool you need in quarantine–4:50
How Karina and Jared met and brought Hang-O-Matic to market—6:01
Major Hang-O-Matic retail partners—7:14
How Karina navigated third-party sellers driving down MSRP—8:18
The impact coronavirus has had on Hang-O-Matic sales—10:10
How a small retailer business shifts to ecommerce—10:52
Why COVID-19 demands you shift your marketing focus and learn new skills as a business—11:45
Increase ROI directly within retailer sites—13:56
How to balance vendor IPO’s with long payment terms—15:14
The unique licensing deal that doesn’t just deal with royalties—10:28
Karina’s biggest fears and hopes as a small business owner living in a COVID-19 world—21:10
Best marketing strategy for startups like Hang-O-Matic—23:01
How to get a 100% buyer response rate with the right sales pitch—25:45
Get into stores immediately with the right LinkedIn pitch—28:14
Biggest lesson Karina learned by starting a business before the virus—31:53

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Episode References: Hang-O-Matic

Contact Karina Rabin: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

One of the most glaring issues we have faced during this pandemic is a shortage in supplies, such as protective face masks for those on the front lines. Shortages in our supply chain beg the questions: should businesses move their supply chains away from China and bring manufacturing back to the US? Is this even possible? Here to answer all our pressing China supply chain manufacturing questions is Page One Podcast guest and OEM expert Bruce Kaminstein.

About our guest:

Bruce Kaminstein is founder of Casabella, a global housewares products company recently sold to Bradshaw International. He is passionate about bringing well-designed products to consumers. Kaminstein was the past Chairman of the Board of the International Housewares Association, an organization that represents the $85 Billion housewares industry. As board director, executive, and entrepreneur, he is an expert in domestic and international manufacturing, product development and sales.

Key takeaways from this episode:

The resilience of New Yorkers hit hard by COVID-19—2:00
What is so special about OEM contracting in China?—6:42
How China became the main contract manufacture—9:05
Why is it so hard to move the supply chain from China?—11:15
Is it possible to bring manufacturing back to America?—15:07
How to compete when you share an OEM with other brands—18:03
How the trade deficit impacts marketplaces and the US—20:23
Bruce’s final thoughts on tariffs and the coronavirus—23:31
3 big lesson Bruce learned when exiting his business—25:22

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Episode References:

Contact Bruce Kaminstein: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

Our guest today is a marketing maverick. Aaron Zagha, CMO of Newton Baby, has his finger on the pulse when it comes to the latest trends in marketing—an industry we all know is being rocked by COVID-19. Aaron reminds us of the importance of adapting to consumer behavior and understanding your product market. Plus, you will gain new ROI strategies and top tools to help run your Omnichannel business.

About our guest:

Aaron Zagha is currently the CMO of Newton Baby, a leading crib mattress and baby brand. He was formerly Head of International eCommerce for Teleflora.

Key takeaways from this episode:

Newton Baby’s unique selling proposition—1:25
How to hit sales numbers with new ROI strategies—2:30
The influence of coronavirus on customer behavior, sales, and marketing changes for Newton Baby—5:51
Newton Baby stats (employee count, company footprint, etc.)—7:18
Aaron’s top news sources and tool recommendations to help you run your CPG business—8:25
How to acquire Influencers and negotiate rates—10:00
Top ways to generate UGC through YouTube and Instagram—12:08
Optimize your affiliate marketing channel with this platform—14:10
An affiliate marketing strategy that finally makes sense—15:20
How to leverage partner marketing as a single-product company—20:15
Tactics and new ways to grow your email list—21:20
Newton Baby’s content marketing strategy and unique approach to blogging —25:50
Why Newton Baby decided to self-fund and opt out of VC Funds—28:35
The downside and upside of running a self-funded company—29:20
How important is it to grow social? Aaron’s take—31:30

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Episode References: Newton Baby + Rockerbox + ShareASale

Contact Aaron Zagha: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

Jim Schleckser, best-selling author and business growth guru, has a candid conversation with us about the challenges mid-sized businesses need to overcome to survive and thrive in the COVID-19 landscape. He gives us examples of how CEOs can create better opportunities for business to come out of the other side of this pandemic more powerful and more valuable to themselves and their customers. We also look ahead, past this outbreak, at how leaders can successfully run a virtual organization.

About our guest:

Jim helps leaders grow their companies by helping them open their kink in the hose. He most recently ran a technology business valued at $1.6 Billion, has done business in 28 countries and is the author of the best-selling book “Great CEOs are Lazy”.

Key takeaways from this episode:

How Jim helps mid-sized businesses survive and thrive through a pandemic—2:15
How to create better opportunities for your business to thrive—4:24
Jim’s forecast for how companies will adopt and integrate remote work policies in the future—5:18
How to run a virtual organization and maintain your culture—6:30
How will commercial office spaces change post-pandemic?—7:27
Jim’s career as a leader of various companies—9:00
The biggest thing companies overlook when reevaluating cash management—10:42
How do exceptional CEOs do more with less—13:09
Time management strategies to rethink how you approach business—14:32
How to find the kink in your business—17:45
High-leverage activities CEOs should be doing—21:35
How to delegate to the right person—26:55
A success story on how to exponentially increase revenue—29:04

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Episode References: Inc. CEO Project + Great CEOs are Lazy

Contact Jim Schleckser: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

In today’s episode, we get right into it: how has the pandemic impacted women-owned businesses and how are they responding? What can CPG companies do to stay afloat financially as COVID-19 continues? Our guest Mei Xu, founder & CEO of three global companies, is here to lead us through this turbulent economic time and help us see why now is a once-in-a-lifetime opportunity to strengthen your brand.

About our guest:

Mei Xu, a Chinese American businesswoman, successful entrepreneur, and the founder & CEO of three global consumer product companies: Pacific Trade International, Bliss Living Home® and Chesapeake Bay Candle®. Xu successfully negotiated the sale of Chesapeake Bay Candle to Newell Brands in 2017, aligning her lifestyle brand with Newell Brands’ $14 billion portfolio of iconic consumer goods including Elmer’s Glue, Rubbermaid, and Yankee Candle that have been household mainstays for generations.

Key takeaways from this episode:

The impact of coronavirus on women-owned businesses—2:40
2 steps to manage cash flow—5:37
How to negotiate terms with Chinese factories—7:40
A hidden opportunity: selling summer items to your China retail channel—10:10
The number one thing businesses must do to adapt to the pandemic—13:09
Why you need to own your inventory and how—14:00
Why this is a once-and-a-lifetime opportunity to reach your customer—16:16
How to shorten the supply chain process with an online business—19:50
How Mei Xu supports women venture and women-owned business—20:25
The biggest problem women face when starting a business and Mei Xu plans on solving it—23:03
Mei Xu’s biggest piece of advice to entrepreneurs—27:46

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Episode References: www.meixu.com + Yes She May

Contact Mei Xu: mei@meixu.com + LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

On today’s episode, we do a deep dive analysis on how CEOs and business leaders can reimagine their business plan template to adapt to the coronavirus outbreak. You will get everything from how to develop a detailed forecast of your daily cash flow statement to how you can recreate your marketing strategy with empathy. Remember to stay tuned for more COVID-19 related episodes as we continue to give you a coronavirus update from a business perspective.

About our guest:

Shannon has more than 20 years of experience building and leading high-growth technology companies in the financial services industry. Shannon founded her CEO coaching and worldwide speaking business in June 2011. She is the co-founder of Metronome Growth Systems (Jan 2016) which is a cloud-based business platform for best practice high growth businesses, their CEOs, leaders and Business Coaches. Shannon was recognized as one of Canada’s Top 40 under 40 and was awarded the Sarah Kirke Award for Canada’s Leading Women Entrepreneurs in 2006. Shannon was named Deal Maker of the Year in Vancouver in 2011 and was in the Top 3 Mid- Market Deals on Wall Street that year. In 2017 – Shannon was recognized as one of Canada’s 150 Women and in 2018 one of the Top 100 Most Powerful Women in Canada – RBC Champion. Shannon has been recently named Top 25 Inspirational Women in Canada.

Key takeaways from this episode:

Key business strategic planning advice to guide your company through the pandemic—4:15
How long is your cash runway? How to forecast/map cash from the bottom up–5:45
How to cut cost without losing sight of long-term plans—11:28
The key to repositioning products for this pandemic—13:25
COVID case studies: success strategies from businesses thinking outside the box—16:00
3HAG Way Book: easy grow a successful business with confidence, ease, and joy—20:08
How personally do you know your competitors? The most challenging roadblock business coaches see clients struggle with—27:18
Become the market leader: why you can never know enough about the market you play in—30:11
The difference between micromanaging and a detailed business strategy—34:43

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Episode References: 3HAG Way + Metronome United + Titan International, Inc.

Contact Shannon Susko: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

In a world where social distancing is government mandated, businesses must change the way in which they interact with their customers. On today’s episode, we talk with JP Persico, Director of Innovation and Strategy at Bosch USA, on the importance of not only digitalizing your sales channel but of humanizing your online communication with clients.

About our guest:

Jean-Philippe Persico leads corporate development and strategy initiatives in the automotive aftermarket division at Bosch in North America. He thrives by finding disruptive services and product ideas and execute them through all phases of development and launch. JP recently launched an ecosystem initiative which is built on a mix of venture investments and internally developed solutions, to create the maximum value for Bosch’s customers. All these initiatives help the organization digitally transform the Bosch business to be nimble and future proof in an everchanging market landscape.

**Key takeaways from this episode:**

Why building a new buying experience for customers—using innovation, digitization, and transparency—will help the automotive industry power through this emergency—3:10
The power of empathy in response to the coronavirus crisis—8:45
How the coronavirus is affecting different sectors of the automotive industry—9:42
Why now is not the time to sell, but to listen—10:20
- Strategies to rethink your marketing approach when your industry is experiencing layoffs and closures due to COVID-19—12:02
- How to better serve your customers when in-person is no longer an option—17:40
- Partner venturing: how to leverage tools from multiple businesses to problem-solve and build solutions for your brand—19:46
- How to use passive listening to learn about your customers’ good experiences with your product—24:50
- JP’s advice to CMO’s, business owners, and marketers on how to standout and rise above the noise—28:09
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Episode References:  Sprinklr

ContactJean-Philippe “JP” Persico: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn 

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts 

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What you’ll learn:

On today’s episode, host Luke Peters commandeers the mic to lead us through actionable ways businesses can fix cash flow in these unprecedented times. Peters also gives his market predictions for Q2, Q3, and Q4 followed by some unexpected positivity that’s emerged in response to the virus. And stay tuned for more Coronavirus coverage. Every future episode will begin with COVID-19 discussions with our guests, who will share their thoughts, opinions, and guidance for businessowners who need help navigating all the obstacles that this emergency throws at them.

About our host:

Luke Peters started NewAir Appliances out of his garage with this wife 18 years ago. He continues to grow the company and strive towards the goal of becoming the most trusted brand in compact appliances. He recently founded Retail Band as a strategic consulting practice to help other brands grow their digital sales like he did with Newair. If you would like to grow your DTC, Amazon, Home Depot, Walmart, or Wayfair sales online, his new company helps in a strategic way by also working towards the growth of your brand enterprise value.

Key takeaways from this episode:

Why businesses should think and plan for themselves before receiving government direction—2:30
The current landscape: what small businesses are up against in this crisis—3:55
Will the PPP make a positive impact on small businesses and the market?—5:00
How fixing your Demand Plan with fix your cash flow—6:21
How to react and respond to COVID-19 when the future is unknown—7:34
The impact on Q2, Q3, and Q4—8:40
Google trends: online buying trends on big box retailers (Home Depot, etc.)—8:45
Positive news: how the crisis has unified the world and created inspiring public responses—9:55
How to think about your future supply chain—11:32

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Episode References: Macro Voices Podcasts

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

What is your brand promise in wake of a pandemic? What is your brand relationship to your customers and the market in the time of a crisis? Brand is more important now than ever, which is why we cover brand strategies and communication tools and tactics businesses needed brand crisis solutions during these trying times.

About our guest:

As a teenager, Kevin Walker rebranded a small gift shop in Washington D.C. and doubled its revenues in one year. Since that time, he has been providing successful brand strategy solutions to some of the most demanding clients in the world. He is now the President of Boardwalk, Inc., an agency that “positions brands for enduring success in a world of rapid change”.

Key takeaways from this episode:

How Boardwalk, Inc. creates meaningful bonds between brands and their markets—1:50
Boardwalk, Inc. company stats (number of employees, etc.)—4:42
Shifting focus: ROI short term vs. ROI long-term approach—5:40
Sales process + how boutique agencies acquire new clients—6:45
ROI Forecast: how long does it take to see ROI from a new brand strategy—9:42
The importance of building a strong brand before a crisis—11:54
Rebrands: strategies, tactics, and timelines—13:28
Steps to staying connected to customers during a pandemic—14:55
What is a brand? What is a brand strategy? —17:40
The biggest challenge of executing brand strategy and how to solve it—21:08
Best channels to communicate with customers during a pandemic—25:00

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Episode References: Boardwalk, Inc. + A Brand is a Promise Kept + The New CEO’s Branding Handbook

Contact Kevin Walker: kevin@boardwalkla.com + LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

On today’s episode we talk about how CPG brands can find their way in Latin America. We give a breakdown of the best store and global growth opportunities for kitchen electric, bedding, home décor, and other housewares products. Listeners will also understand wholesale channels from a Latin American buyer’s perspective.

About our guest:

Catalina Moscoso is founder of Le Cook Home, a company that represents U.S. and Canadian housewares brands in Latin America. With over 15 years of International Sales and Marketing experience, she has been opening the doors to brands by understanding the culture and the way of living in local markets.

Key takeaways from this episode:

Le Cook Home mission statement—3:20
Top 3 Latin American retailer growth channels for housewares and hardware products—4:10
Top discount channels in Latin America—8:00
Strategies for selling wholesale in Latin America—13:12
Understanding Latin American Buyers—16:20
How to optimize your ecommerce site and products for international consumers—17:50
Top Latin American countries to focus your growth and sales strategies on—21:21
International growth channels for kitchen electrics products—25:13
International growth channels for bedding and home décor products—27:08
How to understand the Latin America market for your product—28:57
How representatives can turn leads into customers with marketing automation—32:48
Catalina’s biggest learning lesson in business—36:15
Catalina’s personal habits that make her a better business owner—40:15

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Episode References: https://bylecook.com/ + Falabella Group + Cencosud Group + Grupo Exito + Supermarkets Tottus + Home Center or Sodimac + D1 + Justo y Bueno + Ara

Contact Catalina Moscoso: cmoscoso@bylecook.com

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn

On today’s episode, we look at the impact of the coronavirus on businesses, especially on big box retailers like Amazon and Walmart.

About our guest

Over 30 years of diverse business experience and 24 years of retail and consumer goods industry experience, and 4 years of Wal-Mart buying experience. Scott’s 17 years of consulting experience provide him the knowledge and insights needed to be a creative and pragmatic leader and “Team Builder,” skilled at planning, organizing, leading, and executing complex cross-functional sales and operations activities that cross organizational boundaries to quickly deliver business results. Scott has an inactive CPA status and an MBA from Boston University.

Key takeaways

The Strategic Alliances, Inc. mission statement—2:08
The Strategic Alliances, Inc. Statistics (employee count, warehouse size, etc.)—4:30
Most common challenges brands face when selling on Amazon and Walmart—6:55
Amazon and Walmart pricing strategies: which one is self-destructive to small businesses?—10:29
How to push through tariff price increases to retailers without a buyer—16:37
Tips on navigating Amazon as a vender, especially when not instore at Walmart—18:16
How to negotiate buyer pushback on profit margins and MAP—22:45
How big retailers are responding to coronavirus supply chain, manufacturing, and stocking issues—23:00
Scott’s Hot Take: 5-year projection on Walmart’s quarterly growth versus Amazon’s quarterly growth—28:20
The Strategy Alliances, Inc. ERP and PIM systems—32:52
How to take a rudderless business and build it a successful strategy—36:25
Advice on how to build strategy into process—41:50
Scott’s biggest lesson in business—42:45

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Episode References: Strategic Alliances, Inc.

Contact Scott Bowman: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

Is the coronavirus outbreak over hyped or is the recent cancellation of the Inspired Home Show Chicago 2020 (IHS) and other trade shows warranted? On today’s episode, we bring on infectious disease specialist Vishal Khairnar to talk us through the ins-and-outs of the global coronavirus outbreak. Khairnar explains the R naught of the virus and gives us more precautionary measures to implement as businessowners, besides basic hand washing. Plus, our guest answer uncommon, but important questions we all want to know, like can our dog or cat get infected with coronavirus? Will there be a second outbreak of COVID-19?

About our guest:

Vishal Khairnar is a Research Scientist with an expertise in Immunology and Cancer biology with respect to infectious diseases, viruses (LCMV, VSV, Influenza), bacteria (Listeria, Pseudomonas), immunotherapy, leukemia and lymphoma. Khairnar is the fellow of Leukemia and Lymphoma Society and Young Investigator Awardee. He is a highly skilled researcher with 9+ years of experience in immunology research with 15 high impact papers and 5 conference abstracts.

Key takeaways from this episode:

History of the coronaviruses: what is unique about it and what is known—3:08
How did coronavirus start? Its transfer from an animal in Wuhan, China to humans in the US—6:00
What does R naught mean? Is the coronavirus more contagious than Ebola?—7:30
Coronavirus cure: vaccine timeline & updates on FDA approved clinical trials by Moderna, Johnson and Johnson, Gilead and other pharmaceutical companies—11:23
How coronavirus spreads in the body & is similar in transmission to the influenza virus—15:00
Can your dog or home pet catch coronavirus?—19:35
The cause of death: is the virus the direct cause or is it a secondary bacterial infection in the lungs?—21:03
Influenza virus versus the coronavirus (COVID-19)—26:48
How likely will COVID-19 mutate and come back for a second outbreak?—33:19
Why decontamination of surfaces is important, especially during winter season—33:56
Public hysteria or serious health concern? Khairnar tells us if the trade show and travel cancellations are justified—38:37

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Episode References: Global Coronavirus COVID-19 Cases + WHO advice for the public + WHO FAQ on Coronavirus

Contact Vishal Khairnar: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

Listen, Subscribe, Review: Apple Podcasts + Spotify Podcasts

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What you’ll learn:

What is the first thing you think of when you hear ‘Artificial Intelligence’? Machine learning, big data, or Siri may be top of mind. But DMAI, Inc. is using cognitive AI to create a new standard for children education and healthcare. In today’s episode, we also get demand generation digital marketing strategies and a new product launch checklist from a lead marketer in the consumer-packaged goods (CPG) industry.

About our guest:

Helen Fu Thomas is a visionary entrepreneur, leader, innovator & marketer for exponential growth. With her training in consumer-packaged goods industry, she develops and executes product strategies for consumer markets from concept to product to mass markets. In the past 17 years, she has grown business in the technology, digital media and now artificial intelligence industries.

Key takeaways from this episode:

The mission driving DMAI, Inc.—3:00
The DMAI, Inc. product line and stage of development—6:15
Helen Fu’s path to marketing in the consumer-packaged goods industry—9:50
3 big mistakes CPG brands make in demand generation—11:25
How to optimize your brand story telling beyond a basic product launch plan for online retailers (Amazon, Wayfair, etc.)—13:40
How to economically connect with the end user and minimize paid advertising (Social Media advertising, Facebook Ads, Google Ads)—16:05
Amazon account management and sales strategy—20:27
Three checklist strategies for a sales proof new product launch plan—22:55
Advantages of pretesting products and key marketing messages before production—26:15
DMAI, INC. organization chart, the benefits of flat org. chart, and how to manage branding throughout the organization—30:29
The biggest learning lessons of Helen Fu’s career as an entrepreneur—36:18
Best habits for business owners—38:06

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Episode References: DMAI, inc. + Indiegogo

Contact Helen Fu Thomas: LinkedIn + dmaihelen@dm.ai

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

CPG.IO is a one-stop-shop for eCommerce. The Amazon agency and eRetailer management firm does the distribution for direct to consumer shipping and product fulfillment. On today’s episode, CPG.IO founder and CEO John Holby gives us his best strategies for a ton of common brand issues online: omni-channel pricing, new product launches, digital marketing, and account management.

About our guest:

John Holby graduated Carthage collage majoring in MIS with a minor in Entrepreneurial Studies. Worked at the Mercantile Exchange before an 11-year career at CDW. Then, he started CPG.IO. Holby is a 39-year old Christian with two boys and a girl under the age of 10. He has a loving wonderful wife of 13 years. He loves to cook and spend time with friends and family.

Key takeaways from this episode:

IO: the one-stop-shop for all thing’s eCommerce—2:45
IO company stats (employee count, departments, etc.)—4:45
Top 3 mistakes brands make on Amazon—7:17
Amazon digital selling strategies for larger appliances and products—9:50
Amazon’s internal strategies for staying competitive—10:40
Step-by-step plan for a new product launch across eRetailers—12:55
How to negotiate guaranteed minimal margin (GMM)—16:18
How to negotiate fees and get the best terms—17:44
How to sell overstock Amazon items—19:23
Hacks to optimize Amazon product listings—22:20
Should consumer product brands invest in ARA data?—24:10
Top tools to improve Amazon sales—26:18
How to manage Amazon Advertising Services (AMS), allowances, and other Amazon costs—27:17
Omni-channel (Walmart, eBay, Target, Bed Bath & Beyond) pricing strategies—29:09
The pros and cons of third-party advertising platforms to drive traffic to eRetailer product listings—32:20
Holby’s biggest mistake and lesson as an entrepreneur—34:07
Best tip for getting a shutdown account back online on Amazon—35:58
Holby’s best habits as a successful businessowner—37:41

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Episode References: http://new.cpg.io/ + Rebate Key + Price Checker 2 + Helium 10

Contact John Holby: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

We all have our own leadership style, but what is leadership? Jim Estill shares his secrets to successful leadership and nonhostile work environments as a legacy leader in the tech and appliance industries. As an innovation driven CEO, Jim talks about how his passion for 2020 trends, technology, sustainability, and social justice all came together to create a more environmentally conscious mail and shipping system to combat climate change.

About our guest:

Jim Estill is a Canadian technology entrepreneur, philanthropist and CEO of Danby Appliances and ShipperBee. Danby Appliances’ latest product is Parcel Guard– a smart mailbox that stops parcel theft. ShipperBee is revamping outdated parcel shipping, increasing efficiency and saving 73.1% of the greenhouse gas per parcel shipped. Jim is the EY Entrepreneur of the Year 2019 Ontario winner.

Key takeaways from this episode:

Introduction to Danby Appliances and new innovation ShipperBee—2:16
Danby Appliances stats (employee size, warehouse size, & distribution channels)—5:44
Innovation in the product lines and recognizing new growth opportunities—7:13
Parcel Guard and Danby Fresh: combining tech, innovation, and 2020 trends to create new products and businesses—8:08
How to stay relevant as a big, older, veteran business—12:23
Competitive advantage strategies from a legacy business—13:48
Jim’s business philosophy: fail often, fail fast, fail cheap—15:58
The philanthropic endeavor to help Syrian Refugees that drove motivation at Danby—17:40
ShipperBee: a sustainable way to mail and shipping with less impact on the environment—19:27
The one leadership trait that leads to a healthy company culture—22:13
How to grow a legacy business as the new CEO—25:42
Innovation vs acquisition as a growth strategy—27:03
A product launch strategy for old and new products—28:48
Leadership tactics to drive results and motivate employees—31:16
3 key takeaways to help prioritize tasks, feed your energy, and maximize your time—34:47
Jim’s habits and book recommendations that made him a better leader—40:00

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Episode References: www.danby.com + www.shipperbee.com + Time Leadership: Using the Secrets of Leadership for Time Management + The 22 Immutable Laws of Marketing + Influence: The Psychology of Persuasion

Contact Jim Estill: www.JimEstill.com

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

On today’s episode, our guest Stacey Reid the VP of sales at Global Amici talks about how low overhead cost can be a big manufacturing advantage, how to leverage relationships with sales representative groups and retailers and most importantly how to succeed in a male dominated industry as a women and overcome gender discrimination in the workplace.

About our guest:

Stacey Reid is a third-generation salesperson from Cleveland Ohio. She grew up immersed in consumer products business world. For the last 28 years, Stacey has worked for big brands, Fortune 500 companies, and entrepreneurial startups in the Housewares and Specialty Food industries (Le Creuset, Clad and Calphalon, and more). Currently, she is Vice President of sales with Global Amici.

Key takeaways from this episode:

· Global Amici’s path to new product lines (kitchen accessories, pet accessories, private label, and branded products)

· Why it’s more cost effective small-to-medium sized companies to use a 3PL

· Global Amici stats (company size, warehouse size, sales rep group sizes, etc.)

· How to use low overhead as a pricing and manufacturing strategy

· Discount, off-price retailer channels—TJ Maxx, HomeGoods, Marshalls, Burlington, Tuesday Morning—as a thriving wholesale retail channel for pet and kitchen accessory products

· The housewares home décor business shift to online (Amazon & dot com) and off-price

· Global Amici’s breakdown of successful dot com businesses

· How to prevent third party selling and grow online by dropshipping

· Sexism in the workplace: navigating the male dominated housewares industry

· Stacey’s advice to women entering the industry as a salesperson + her take on how to be successful and break the gender gap and glass ceiling

· Stacey’s advice to young women professionals: why becoming a master or industry expert in one category—electric, cookware, or tabletop—will make you more marketable and bring more career success in the long-run

· Stacey’s big family wake up call that changed her perspective on life and work

· Life and parenting advice to business owners from two successful entrepreneurs

· Stacey’s one piece of advice to building a strong work culture full of diverse women and personalities

· Top 3 tips for young professionals on the path to growing a business career

· Top Takeaway habit to make you a better version of yourself

Get a FREE evaluation of your online sales strategy
Episode References: Wingtips for Women: Success Without Compromise
Contact Stacey Reid: staceyannereid@yahoo.com + LinkedIn
Contact Luke: luke@retailband.com + LinkedIn
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What you’ll learn:

The Coronavirus is at the center of the news cycle. If you do business in China, you’re probably wondering if you are taking the right precautionary measures to protect this SARS like virus from affecting your supply chain management (SCM) and overall production. But what is the coronavirus? What is the infection caused by? How was it transmitted to humans? Is there a treatment or vaccine? We answer all these questions and more in today’s episode—just in time to help you navigate upcoming travel to the China Canton Fair 2020 and other Q1 tradeshows.

About our guest:

Virapur was formed in 2000 based on Marylou Gibson’s invention of the adenovirus purification kit, which has now revolutionized how viruses are purified by researchers worldwide. Marylou Gibson is a Virologist and Chief Scientific Officer at Virapur. Virapur grows and purifies many different influenza viruses, including H1N1, H3N2, and swine flu, using eggs and tissue culture. Gibson’s experience has been gained over the past 25 years in production and purification of biopharmaceuticals. Her Ph.D. degree is in virology, so making viraceuticals was the next a logical step in her career.

Key takeaways from this episode:

What is the coronavirus and how was it transmitted from animals to humans? –4:41
Is a virus a living organism?
How is the coronavirus like SARS?
The #1 way of avoiding the coronavirus
How far and how does coronavirus travel in the air?
Travel Tips: best precautions to take when traveling on an airplane
Face mask pros and cons: are effective at preventing transmission?
How China is mobilizing to protect worldwide spread to other countries
Cause of illness in coronavirus patients
Long-term effects
Shocking unknown fact about coronavirus and cold symptoms
A Virologist’s advice on vaccines

*CNN World News Live UPDATE AS OF 2/5/2020: Coronavirus cases reach nearly 25,000***

Get a FREE evaluation of your online sales strategy

Episode Links: www.Virapur.com

Contact Dr. Marylou Gibson: LinkedIn

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

This week on the Page 1 Podcast, we’re breaking down the IP process—from how to decide when to get a patent to building it into a company’s product creation process. We also dive deep into the Private Label industry with the help of our guest, Leah Belzer-Adams.

About our guest:

Leah Belzer-Adams is the COO of The Companion Group. Leah is unintentionally taking over a housewares business founded by her dad, Chuck Adams. The business was never meant to be a family business, but Leah came to help the company one summer and fell in love with both sales and the consumer product industry! Innovation is her company’s bread and butter and she finds it incredible to be a part of a company that's such a thought leader in the industry.

Key takeaways from this episode:

The CG’s “head-to-toe” approach to product design and manufacturing—2:10
A breakdown of CG’s product categories—3:30
Private label as an online channel conflict strategy—5:00
The Companion Group stats (company size, departments, warehouses, etc.)—5:45
How CG uses 3D printers to make products in 24 hours and cut production costs—7:10
Sales channel breakdown: in-store versus online sales—11:06
Key in-store clients—12:00
The CG’s quick-to-market product launch strategy—17:13
IP advice from a company with over 90 patents—23:30
Steps on how to create a more patentable product—25:00
Biggest lesson from a veteran consumer product company—29:58
A young professional’s take on how to remain relevant—32:46
How to develop talent within your organization—35:10
One habit to make you a better leader—36:34
Most influential book for entrepreneurs to read—39:29

Get a FREE evaluation of your online sales strategy

Episode Links: https://the-companion-group.com/

Contact Leah Belzer-Adams: LinkedIn + leah@companion-group.com

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

This week on the Page 1 Podcast, Jason and Jamie take us on a guided tour of Custom Electronic Design & Installation Association (CEDIA)—the 13-billion-dollar industry bringing you new technology solutions for the home. They also dish out marketing tactics to help houseware companies tap into the underrated channels of builders, architectures, and designers.

About our guest:

Jason Barth drives the overall company vision for The Premier Group and operates day-to-day by leading the sales and design team. Jason is passionate about the solutions that Premier curates for each individual client and takes great responsibility for not just the end result, but in consistently providing the “Ultimate Customer Experience.”

Jamie Carey graduate from Miami university of Ohio with a bachelor’s in marketing. Post college, she became a professional photographer for 14 years, which eventual lead her to the role of Director of Business Development at The Premier Group where she leads in design, content creation, and overall marketing strategy.

Key takeaways from this episode:

Jason’s & Jamie’s unconventional career paths to The Premier Group—2:12
What is CEDIA and why is it such a big deal?—4:40
The Premier Group stats (number of employees, different departments, etc.)—5:34
A breakdown of The Premier Group revenue per sales channel—6:50
TPG’s two fastest growing segments—10:30
How homeowners can use smart product analytics in a way that is easy & relevant—12:11
Ins-and-outs of The Short Throw Project: LG’s new innovative tech product with TPG—15:28
How to tap into an underrated market of Builders and Home Professionals—24:10
Top Tradeshows for houseware brands to network and target the Builders channel—26:35
Step-by-step strategy to break into the Builders channel—28:03
Marketing tactics to engage designers and architectures—31:55
How to create key messages that resonate with multiple customer personas—34:14
Favorite book, habit, ritual that made Jamie and Jason more successful—37:39

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What you’ll learn:

Whether you are a CPG startup or established company, you’ve dealt with the challenges of getting in-store at National Retail Channels. Today’s episode is full of sage advice on how to get products in front of buyers, along with marketing strategies to raise awareness on products already in-store. As most business owners know, getting on the shelf is half the battle—it’s how to stay there that matters.

About our guest:

Chris Rebsamen is a strategic senior sales/business development executive, with extensive 30 years’ experience in the consumer product industry. He manages sales and marketing efforts in the National Retail Channel points of Distribution. Chris is driven by implementing innovation and generating new revenue at existing and new National Retail Accounts across all channels. He started Jupiter Sales and Marketing as a turnkey sales and marketing solution for CPG and consumer product companies that want to both learn and succeed in the end to end business of retail. JSM works with startups to established firms with revenues of up to $100MM per year.

Key takeaways from this episode:

Chris’s path to founder of Jupiter Sales and Marketing—2:00
Park City, Utah’s underrated entrepreneurial network—8:12
The biggest lesson startups learn the hard way when they get in-store—10:00
Top 3 retailers JSM accelerates in—10:25
The most common misconception entrepreneurs have when trying to get instore—12:55
Client example: what happens 2 years after getting in-store at Walmart?—14:00
What percent of JSM clients end up in-store? –15:10
Marketing strategies to raise product awareness once in-store—15:35
Your silent salesperson: product packaging—16:30
Sales strategies don’t start with big-box retailers—17:20
Why CPG should start with regional sales stores—18:40
How to navigate tariffs on products already in-store—21:00
Pricing strategies, net margin & EBITA goals—22:20
CFO Controller: a key early investment for entrepreneurs—28:00
Key advice for entrepreneurs to hold onto capital in early stages of growth—28:45
The best strategy and channel for moving excess inventory—31:15

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Episode References: http://www.jupitersalesandmarketing.com/

Contact Jeff Thiessen: chris@jupitersalesandmarketing.com

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

Dansons has seen massive growth in the last 5 years, scaling the company from 12 to 200 people. On today’s episode, we learn about Dansons speed-to-store product development process along with the aggressive expansion of distribution centers in anticipation of a push for more online sales.

About our guest:

Jeff Thiessen is the President of Dansons, the manufacturer of Louisiana Grills, Pit Boss, Wood Pellet and Kamado Charcoal Grills. Jeff has worked along-side his father and brother to take Dansons from a 12-person company to a 200 employee, international powerhouse. Dansons offers the broadest product offering in the industry and continually launches innovative products into the marketplace.

Key takeaways from this episode:

How Dansons evolved into what it is today—2:45
The brand and channel strategy behind Dansons continued growth—5:24
Dansons stats (distribution, warehouses, employees, etc.)—9:20
The secret to Dansons aggressive growth in the past 5 years—10:56
How trust, faith, and execution are the foundations of Dansons’ ability to scale quickly—13:37
Dansons in store strategies for Walmart, Lowe’s and other big box retailers—16:27
Percentage of online vs in store sales + 2020 online sales strategy—19:14
New Dansons product line in 2020 + Dansons massive SKU count—25:51
Product development: forecasting trends, collaborating with retailers, & listening to customers—27:03
The 3-pronged distribution strategy behind a push for online sales expansion—30:29
3 key takeaways for growing a winning organization—35:41
2019 company recap: Dansons’ biggest win—41:06

Episode References: FREE evaluation of online sales strategy + TraQline

Contact Jeff Thiessen: LinkedIn + Dansons + Pit Boss

Contact Luke: luke@retailband.com + LinkedIn

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What you’ll learn:

How do you market to consumers outside your target audience? How do you market to multiple audiences shopping at the same retailer? Today’s episode is jam packed with insights driven marketing strategies to grow your business—no matter its current scale or size. Our guest even shares her personal methodology for creating assets that optimize sales.

About our guest:

Yvethe Tyszka is the Vice President of Marketing for Coravin. She is a passionate insight driven marketer with global experience and local execution. She is successful at turning businesses around, building and motivating teams, and creating consumer centric strategies to accelerate growth.

Key takeaways from this episode:

Yvethe’s path to VP of Marketing—2:14
The Coravin Mission—5:55
Coravin stats (employee count, # of skus, etc.) — 8:26
Coravin Moments: The Coravin Wine Pairing App —10:00
How Coravin’s unique growth build customer trust and brand credibility—11:27
How to attract new customers outside your target audience—14:15
How Corvain uses IP to protect product innovation—15:20
Insights driven marketing strategy—19:18
How to market to multiple audiences shopping at the same retailer—23:45
A new take on competing against market leaders—25:55
Yvethe’s marketing methodology for creating content that sells: Hacking Growth—29:42
Create a team that owns your company’s brand—32:26
MAP Strategy: work with retailers to create cross-channel sales—35:40
How to create a deeper brand experience for consumers—36:46
Key Marketing Strategy Takeaway—38:28

Contact Yvethe Tyszka: LinkedIn + Coravin

Contact Luke Peters: luke@retailband.com + LinkedIn

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What you’ll learn:

How do you unify your online and offline presence? How do you merchandise your products online? How do you manage your sales assets across all retailers and synchronize your entire eCommerce activity? Today we learn about Salsify, a company that not only simplifies the digital product launch process, but measures the sales success of your creative content and product assets. Today, you learn how to manage your company’s digital shelf.

About our guest:

Jason Purcell is the Co-Founder and CEO of Salsify. Before Salsify, Jason ran Endeca’s e-commerce business. He was with Endeca almost from the beginning as employee #24 and helped grow the business to its $1B+ exit.

Key takeaways from this episode:

What is a PIM?
What is the digital shelf?
What makes Salsify different?
Salsify stats (employee count, international locations, customers, etc.)
Salsify’s Annual Event: Digital Transformers Summit
Scaling Salsify with self-funding before taking on VC Funds
Key challenges brands face when building their digital shelf
Aggregated data to create a brand’s full digital story
Gaining competitor comparative data
Salsify onboarding and channel integration
Type of companies that need a PXM
Uploading a new product image on retailers in less than a minute
Best advice and strategies to improve your digital shelf

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What you’ll learn:

A fire destroyed the core business of VHC Brands just as they company was about to enter Q4. But this didn’t stop Ken and his family from growing the business into a 6,000 SKU, eCommerce powerhouse. He gives us advice on how to lead a team through a fire, literally.

About our guest:

Ken Kline is a family business owner, long time home textile importer from both India and China, bootstrap wholesale ecommerce marketplace supplier. He has a wife, three kids, one dog and one cat, and does all the cooking. When Ken was asked about his life, he said “It's nothing like that show on Netflix, relax. LOL”.

Key takeaways from this episode:

Ken’s path to business ownership — 4:00
The idea that sparked VHC Brands — 7:33
The VHC category lineup — 8:02
VHC stats (employee number, warehouse sizes, departments, etc.) — 9:17
Own your eCommerce brand with in-house content creation and SEO — 14:00
How niche and new wholesalers can break into a market with eCommerce — 16:30
Sales Channel breakdown — 17:54
NetSuite and managing international warehouses — 22:55
Supply chain and sourcing roadmap for 6,000 SKUs — 25:35
How to manage content and review SKU assets across all eCommerce channels — 31:40
Product launch strategy for 6,000 SKUs — 34:10
Recovering a business after a fire destroys everything — 41:59
Key Business Takeaway — 51:43

Connect with Ken: kkline@vhcbrands.com

Need more expert advice? www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? LinkedIn

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What you’ll learn:

Tim Gilmer has worked with Lowe’s for 25+ years as an expert in the hardware distribution industry. He gives valuable insight into sales, marketing, logistics, and merchandising strategies to get in store at Lowe’s—and stay there.

About our guest:

Tim works out of the Lamb, Britt, Gilmer & Associates corporate office in Gainesville, Georgia and is responsible for concentrating our sales efforts with home center chains and mass merchant accounts. Additionally, he is responsible for oversight of all aspects of category management for his departments and product lines at Lowe's including: Sales, Marketing, Logistics, and Merchandising. He was recently added to the Lowe’s Advisory Council.

Key takeaways from this episode:

Highlight of Tim’s 30+ years in hardware distribution — 1:31
LBG’s unique business model — 5:58
Company stats (employee number, warehouse sizes, etc.) — 7:30
Services LBG brings to your company — 11:22
Tariff strategy: how to work with Big-box retailers — 14:35
Most important sales tactic to help pitch your products to Lowe’s — 18:34
Key aspects to track once you’re in store to maintain sales — 20:54
MST, Merchandise Services Team, and Lowe’s associate—what are the differences? — 24:20
Internal Lowe’s changes and next stage growth strategies — 26:00
Strategies for helping Lowe’s associates sell your products instore — 26:50
Product packaging improvement insights — 28:48
Best sales channels for the hardware and home center industries — 34:10
Best strategy to get in store at Lowe’s — 36:20

Connect with Tim: LinkedIn

Need more expert advice? www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? LinkedIn

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What you’ll learn:

ZLINE Kitchen and Bath is an industry leader competing against other high-end, luxury brands. Team members Galen, Mason, and Drew talk about how ZLINE competes on its own terms, especially when it comes to controlling MAP violations, passing tariff price increases on consumers, and owning page 1 of search results.

About our guest:

In 2009, Galen Bradford co-founded a mobile software company, Tiger Stripes LLC. Under his leadership, Tiger Stripes sold over 3 million apps to a worldwide audience across multiple platforms. After Tiger Stripes, Galen consulted a number of startups and established himself as a dynamic project manager. He had extensive experience in many fields including product design, sales, marketing, branding, SEO, web development, strategic operations, social media strategies and graphic design. Currently, as the CMO for ZLINE Kitchen and Bath, Galen drives ZLINE's vision to become a household name in kitchen appliances and bath fixtures. ZLINE Kitchen is the industry leader in designer kitchen appliances - with a passion for innovative styles and high performance, more homeowners can experience luxury in the spaces that mean the most.

Key takeaways from this episode:

Company stats (product fulfillment, warehouse sizes, etc.) and ZLINE backstory — 3:53
ZLINE Bender: how to transition from ecomm only sales to in-store retailer channels — 3:25
Driving D2C online sales by 40% — 7:24
How ZLINE maintains MAP across retailers — 8:07
Using Dropship to own your product — 11:01
Professional Consumers, Builders, & Contractors as solid growth channels and partners — 13:56
Innovative new product lines, style & color customization, and comprehensive kitchen remodels — 15:48
Brand marketing strategies and tactics that make ZLINE standout — 20:16
Engaging with customers on social media & driving traffic to retailer product listings — 23:40
Win page 1 and make your product stand out on retailer search results — 26:43
Taking advantage of New Product Placements when you launch a product — 29:54
MAP strategies across multiple retailers — 33:24
Perceived value and passing tariff price increases to consumers — 36:44
Biggest ZLINE win in 2019 — 42:50

Explore ZLINE Kitchen and Bath content: www.zlinekitchen.com

Need more expert advice? www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? LinkedIn

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What you’ll learn:

IHA, the International Housewares Association, just went through a major rebrand and is now called the Inspired Home Show. We talk about all the new programs, features, and resources vendors can take advantage of to stay at the forefront of their industries and get the most out of their show experience.

About our guest:

Leana Salamah is the Vice President of Marketing for the Inspired Home Show (previously, the International Housewares Association Show). She has a bachelor's degree from University of Illinois and a Master’s in integrated marketing and Communications from Roosevelt University.

Key takeaways from this episode:

Why IHA rebrand to Inspired Home Show and the realities of the marketplace — 3:17
How does a Housewares consumer make a purchasing decision? — 4:10
Inspired Home Influencer Conference: what is this NEW networking and educational event for vendors and how does it work? — 7:53
Top 3 events for vendors to checkout at IHS — 11:31
Is there a perfect place to be on the show floor and data on attendee show traffic — 20:24
The IHS Marketing Kit and support options for vendors — 23:24
What makes a vendor successful at IHS and why understanding the IHS attendees is crucial — 27:49
Mark Atkisnson: sourcing missions to Vietnam for vendors and your resource to freight and shipping discounts —31:46
CORE meetings: user group for best business practices and lessons — 33:04
com – influencer developed products and crafted lifestyle content for vendors—34:08
Inspired Homes Editorial Calendar – more lead time to submit product story ideas — 36:04
Main takeaway: what to expect from IHS this year — 38:22

Get in touch with Leana: salamah@housewares.org

Get your IHS Marketing Kit: www.inspiredhomeshow.com/marketing-kit

Access Inspired Homes Editorial Calendar: www.housewares.org/consumers

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? Follow us on LinkedIn

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What you’ll learn:

A 6-time serial entrepreneur, Mike Watts, joins us on the show to take us through the process of creating a promotional product. He also shares the secrets to competing against an industry-leader, to building successful teams (6 times running), and to developing strong inventor partnerships.

About our guest:

Mike is founder and CEO of LoveHandle, an American Manufacturer of patented smartphone grips with over 30 full-time employees. Mike has three consecutive multi-million dollar startup companies totaling over $50 million in retail sales.

Key takeaways from this episode:

What makes Love Handle unique and innovative — 1:19
The value of taking risks and jumping into the unknown as a successful entrepreneur — 5:11
Breakdown of LoveHandle’s sales channels — 10:14
How to get into promotional products and develop that side of the business — 14:12
Understanding the consumer behind a promotional product — 17:31
How Mike scaled and grew 6 successful businesses: have and build a great team — 19:52
More than just a consumer product company: graphic design, product invention, and marketing — 23:20
Partnering with inventors to develop new products — 30:36
Designer Patents, being first to market, and starting the journey — 36:00
Takeaway Advice: selling and standing out at tradeshows — 39:21

Get in touch with Mike: LinkedIn

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? Follow us on LinkedIn

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What you’ll learn:

Today we hear an inspiring, yet cautionary, tale from a startup founder who lost his company from equity dilution. Tim Case shares his story and gives early stage entrepreneurs invaluable advice on how to create an innovative product and scale a business with little starting capital.

About our guest:

Tim Case is a serial entrepreneur who has been cooking and inventing since he was twelve years old. Through the combination of his inquisitive nature, engineering mindset and passion for gourmet experiences, he was able to develop, patent and launch—via Kickstarter—the award-winning Pizza Oven Box under the company BakerStone (all while working as a business banker).

Key takeaways from this episode:

The BakerStone Background Story — 3:38
Conceptualization and innovation behind Pizza Oven Box —6:16
Using Kickstarter for proof of concept and lead for industry contacts — 7:38
Product to market timeline — 8:45
Growth of founders and equity stake investors — 11:32
Founder relationships and what each person brought to the table — 12:54
Peak growth point and sales percentages as an early stage startup — 16:23
Key marketing angle when launching a product — 20:30
Diluted equity stake and change in partnership — 21:28
Founder Advice: What would Tim do differently in hindsight — 22:31
Determining startup profitability — 26:06
Selling in-store: challenges and lessons — 28:17
Arbitration and a change in ownership and upper management — 30:33
Invaluable advice from a serial entrepreneur — 31:53

Get in touch with Tim: LinkedIn

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? Follow us on LinkedIn

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What you’ll learn:

Did you know 90% of the US population lives within a 10-mile radius of a Home Depot? In today’s episode your host shares key takeaways from the 2019 Home Depot Vendor Summit. Listen in, HD is a powerhouse player to help grow online sales.

About our guest:

Luke Peters, President and CEO of Retail Band, has 17 years of sales and product development experience in the home appliance space. A self-made entrepreneur and founder of 5 companies, Luke is skilled at taking a product from concept and bringing it to high-volume sales at Home Depot, Lowes, Walmart, and Amazon. Retail Band, Luke’s new venture, is a r-Commerce agency that works with brands to manage and accelerate online business through retailer platforms. He is also your host of the Page One Podcast, a twice-weekly Podcast featuring interviews with thought leaders on topics ranging from channel strategy, tariffs, influencer marketing, product launches, and eCommerce growth on big box retail sites.

Key takeaways from this episode:

Home Depot Stats: stock valuation, quarterly earnings, net profit margins, business model – 1:50
CEOs’ instore sales tactics and HD top customer – 3:32
Diversity Luncheon: HD’s networking event, training opportunities, what diversity means – 5:03
HD’S push towards brand partnership – 5:29
New Geotargeting for vendors – 6:15
Avoid channel conflict on HD – 6:43
Investing in HD team product training – 7:27
Bring your team: compliancy, operations, marketing, sales, and supply chain insights – 8:45
HD culture and PNL focus – 10:41
New 2020 HD Marketing Solutions: Sponsored Advertising, Dynamic Marketing, SKU enrichment – 13:09
HD is a key company to invest in (expand your reach beyond just Amazon) – 17:26
Act now: HD’s marketing and advertising is underutilized, low barrier to entry – 18:10
Develop a relationship with your Merchant – 18:16

FREE AUDIT HERE

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

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https://open.spotify.com/episode/6Cc2ZdUvmgI3MoGMFAnsyV What you’ll learn: We had a fascinating conversation with Mark Dufilho on how a business owners of consumer product brands can raise their evaluations pre-sale. He leads us through a crash course on how to bring a consumer brand to market and achieve liquidity for their business in the wake of China tariffs.

About our guest: Mark Dufilho is a Managing Director in Houlihan Lokey’s Dallas office, where he is a senior member of the Consumer, Food & Retail Group. He has nearly two decades of experience providing transaction advisory and corporate finance services to small and mid-cap public and private companies and private equity firms across several branded consumer products segments, including branded apparel, consumer electronics, health & beauty, household & home products and retail. Dufilho graduated summa cum laude with B.B.A.s in finance and international business from Loyola University, and he holds an M.B.A. from Harvard Business School.

Advisory and full service for MMA for middle market and private companies. Go to market “bankers only specialize in technology.” Focus only on consumer products… Help sellers achieve liquidity for their business

Key takeaways from this episode: * Background story of Houlihan Lokey, Inc. – 3:18 * Biggest mistake business owners make when thinking about EBITDA multiples – 4:43 * The true way to determine the value of your business – 5:00 * General Breakdown of an EBITDA and a multiple – 5:11 * The different types of investors and the types of return they expect – 7:07 * How tariffs are impacting an investors evaluation of your company – 8:31 * Are tariffs an appropriate Addback? – 10:26 * Should you still take your company to market? – 11:27 * How consumer product brands should approach buyer options – 13:00 * Future analysis of our marketplace – 15:18 * Which sales channel should you focus on to drive up your evaluation – 16:10 * The benefits of building an ecommerce sales portfolio with big box retailers – 21:39 * The most important 3 threes to focus on for a higher evaluation pre-sale – 23:34

Podcast Transcription Speaker 1: Welcome to the Page 1 Podcast. A twice weekly podcast featuring a variety of guests and thought leaders on topics ranging from channel strategies to tariffs, influencer marketing, best-in-class product launches, and all the details about how to accelerate your eCommerce sales with the big box retailers, or what we call rCommerce. Now here's your host, Luke Peters.

Luke Peters: Thanks again for joining us on the Page 1 Podcast. I'm your host, Luke Peters. This is the podcast where I bring you the best and brightest leaders in consumer product industry that will help you grow your products, launch new skus, and grow in the big box retailers like Home Depot, Lowe's, Wayfair, and all of those other retailers that we call rCommerce. I'm the CEO and founder of NewAir Appliances where I cut my teeth for the last 17 years selling products online, and I've started a retail band where we can help other companies learn how to launch products, use influencer marketing to launch products, get reviews, gain traction, sell into Home Depot, Wayfair, Lowe's, Target, Amazon, and all those other sites.

Luke Peters: And today I am interviewing Mark Dufilho who's the Managing Director of Houlihan Lokey. Mark graduated summa cum laude with BBAs in Finance International Business from Loyola University and he holds an MBA from Harvard, and I have met Mark in-person, he's literally one of the smartest guys that I've met. And thanks for coming on the show, Mark.

Mark Dufilho: Oh, it's my pleasure. Thanks for having me.

Luke Peters: Awesome. And anything else that I might've missed in your background that might be important for the listeners to know about?

Mark Dufilho: No, you were certainly complete from an educational perspective, seems quite a long time ago now.

Luke Peters: Yeah, I know, it's impressive though. And like I said, I had the opportunity to meet with Mark for about an hour a couple months ago. Learned quite a bit about how to think about my company, NewAir and how to position ourselves correctly. And so I thought that it's really a special treat for you guys, our listeners, who's mostly comprised of consumer product brands to kind of learn and get educated from Mark on how to think about correctly growing your business and positioning your business.

Luke Peters: So today I got a bunch of questions related to preparing the company and I guess before we get started, I was just talking to Mark about this, again, what's interesting is you're in charge of the consumer products side of Houlihan Lokey, which is a huge firm, the biggest right, in certain deal sizes. You guys are like the number one deal firm?

Mark Dufilho: Yeah. As far as the middle market goes, which is certainly deals below $1 billion in value, we execute on more than anybody else in the country, and actually within consumer products, irrespective of the deal size, our team handles more deals or M&A deals every year than any other bank in the country.

Luke Peters: Yeah, which is incredible. And also the fact that... Like you said, that's your area of expertise and that fits perfectly into this podcast. So now that we've kind of worked through that part of it, why don't we start with something obvious, which I think a lot of the listeners might know. But if you can kind of give us a general breakdown of how multiples are reached from an investor perspective, whether that's a PE group or another firm that's trying to roll up similar companies besides just EBITDA, what are the types of things that might fall into that?

Mark Dufilho: Sure, happy to. And maybe just to give your listeners a sense of perspective of where my experience or thought process is coming from. Our firm is a full-service investment bank, but all of what we do is advisory services, and within that most of it is in and around M&A and financing for middle-markets and private companies. And we go to market and deliver these services on an industry-specific way. So we have bankers that specialize only in aerospace and defense or technology or other industrial industries. Our team, which is about 70 bankers across the country and Europe are focused only on consumer products, in every sector of consumer. Whether it's food and beverage, pet, health and beauty, home products, retail, restaurants, et cetera.

Mark Dufilho: And literally, what we think about day-in and day-out is the question you asked, which is EBITDA multiples and valuation. Because the vast majority of what we do is help sellers achieve liquidity for their business. EBITDA and EBITDA multiples is always an interesting topic of discussion. And what I found is the biggest mistake people make in thinking about that is that it's simple math. If I maximize my EBITDA and I'm maximize my multiple, I'll maximize my value. Well, there's truth to that, but the real truth is value is determined by looking at what the longterm, sustainable cashflow of the business is, and value has always been determined that way.

Mark Dufilho: EBITDA and multiples are a simplifying language for people to very quickly try and ascertain value for a company, a group of companies or an industry, and then use that basis of comparison across those companies and understand why one business may trade at a higher multiple than another. What the multiple comes from is someone's belief in the sustainability and defensibility of that EBITDA and then the growth opportunity inherent in that EBITDA over a three to five to seven year period over time. And then the third piece, if it is a financial investor and the idea is to eventually sell that business again, whether they believe that EBITDA multiple can be sustained three to five to seven years in the future or will that multiple contract or expand over time based on the growth opportunities for the business.

Luke Peters: Yeah, and that's a great explanation. And I was taking notes here and I wrote down, actually what I think might be the key point you can tell me, but value is determined by the longterm cashflow. And I've heard and read that a lot of investors, a lot of it is all about risk, more risk equals you're going to get lower multiples, lower returns, and more risk. And less risk is what investors are looking for. And that would feed into the longterm cashflow model, right?

Mark Dufilho: That's exactly right. Every evaluation is an element or combination of the required rate of return and a cost of capital. Parlay it against what people expect those future cash flows to be. Which is why when people talk about debt multiples and leverage, and the higher the leverage, the higher the value. There is truth to that because what that means is that investor is able to replace higher cost of capital investments, the equity component, with a lower cost of capital, a debt component, thereby allowing them to pay more.

Luke Peters: Makes sense. And is there a certain return on capital that they also calculate in the bank? That factors into whatever the multiple ends up being, because they're going to have to usually leveraging these companies up quite a bit or is that not-

Mark Dufilho: Sure that is a cost that an investor is looking for?

Luke Peters: Correct.

Mark Dufilho: Yes. It depends on the type of investment that you're making. A venture-based investor is going to be looking for a significant return of capital and that tends to be a very high percentage return, 35%-type return, because they're trying to make multiples of their money because it's a much riskier investment, it's an earlier-stage company, it's an unproven concept, whatever the case may be. A more mature investor that's making investments, a traditional LBO or private equity firm, that's making investments in established and more mature companies is going to look for a lower return, because the lower risks that they're taking. Traditionally, they looked for 20%-22% returns. In today's market, you'll see that number down as low as 16% returns, right above where you start to see junior debt capital start to look for returns. So think of the stack as senior debt, maybe looking for 5%-6%, junior debt or second-lien debt, maybe looking for 8%-12%, and then equity starts to look for 15% on up.

Luke Peters: Okay, awesome. And that's super valuable. Those middle investors, that would be also termed as, mezzanine debt, is that another term for it?

Mark Dufilho: Correct.

Luke Peters: Okay. And then something really specific just because of the world we live in with tariffs. Some specific questions related to that. Just because everybody that's listening here is probably in the consumer products, everybody's going to be affected by tariffs or not everybody, but most everybody. And when investors now... What they're having to look at isn't what they had to look at a year ago. So now we have tariffs involved, which could be driving down net profit.

Luke Peters: So a couple of questions. Do you think tariffs could be, should be, will be, introduced as an add-back? Is that a legitimate add-back, especially if they go away in the future. But even if right now, would that be an add-back? And number two, how would those, could they negatively affect an investor's opinion because they're adding in some friction and some uncertainty?

Mark Dufilho: Sure. So I'll take that in reverse order. Tariffs are absolutely a point of disruption in the market today. They're disrupting people's businesses and supply chains and pricing models and margin structures, no doubt, but they're severely disrupting the M&A environment, because there's so much uncertainty that they interject. If you're a private owner and a seller of a business today, and you fundamentally believe that these tariffs are a temporary cost, you're going to argue that a buyer should look past those and look at a more normalized view of profitability and assume those will go away. However, if you're a buyer, you've got to be thoughtful about what that tariff, how long the tariff regime can stay in place, whether it can get worse, and what it means with respect to a short-term versus a longer-term disruption of business.

Mark Dufilho: And so what we're finding at the end of the day is buyers are placing a discount on value to accommodate either tariff costs or tariff uncertainty on a go-forward and sellers have been less willing to accept that discount. They're more willing to hold on to businesses and not sell at this point in time. We've not advised clients to try and add back the cost of tariffs. We don't think that the sophisticated investor market is accepting that, simply because there is uncertainty around how long they will remain. We are, however, advising clients to add back some of the truly temporary costs that have come because of it, whether it's a cost from excess warehousing or inventory carrying costs because a company bought ahead of a potential tariff impact, or if it's the resolve of the cost of moving a supply chain out of China into a non-tariff country. Those are temporary and one-time in nature and we believe those are appropriate add-backs. But there's far too much uncertainty around tariffs today. Just sort of wave a magic wand and say, assume those costs aren't there because we don't think they'll be there forever.

Luke Peters: So and since the impact is so huge on first, a lot of companies... Especially in the 25% sector, does that mean or do you have an opinion on if companies should maybe wait it? Out because if they truly aren't add-backs and all things being equal, that's going to really hurt a net profit number or a multiple. Do you think most companies would be advised to wait it out or is it really going to be deal-by-deal and kind of up to the specific buyer?

Mark Dufilho: Great question. We're generally advising clients if they material impact from tariffs to wait it out. Unless there is another reason why it makes good sense to look to drive liquidity today, and there's any number of reasons why that may make sense, be it personal dynamics, family dynamics, shareholder dynamics, other company dynamics underway. All things equal, were advising people to hold off on taking a business to market if there is material tariff impact on their business because buyers are placing a discount against that. And I have a personal belief that the tariff situation will get resolved. However, I think we're still looking at measuring time in terms of quarters and possible years, not months.

Luke Peters: Yeah. And that was going to be my next question. And I was really optimistic at the beginning and now, I got to put my head down and we just have to run the business and plan like they're going to be here forever. And if they're not then everything's even better, right? Because a bunch of improvements will have been made by that point. But hopefully, for everybody they get resolved. Okay, great.

Luke Peters: Why don't we move on to another... I know this is on a lot of people's minds and probably something that you talk about all the time, but let's talk about the, if you can kind of quickly describe how consumer product brands should be thinking about either working with a financial buyer, which is like a PE firm, right? Or a strategic buyer which might be another bigger brand. What are the different options they should be weighing when they consider those choices?

Mark Dufilho: Sure. A lot of it comes down to where company and the seller is, in their personal cycle and ambitions as well as where the company is in its life cycle. There's sort of a general thought process that has held true generally by and large that a strategic buyer because of the strategic and synergy value that can be achieved in a deal is going to pay more than a financial buyer for a company. That thinking has actually been flipped on a ted a little bit. It certainly in certain consumer segments in the last couple of years as the private equity market has gotten more and more competitive and there's more money available and you've seen valuations go up.

Mark Dufilho: What people have found is that, if they are at a place in their life cycle, in their company life cycle where they're not quite ready yet to move on to the next project and they believe there is material upside in their business, they can actually maximize their longterm value creation by selling to a private equity fund today, selling a minority stake, selling a majority stake and holding onto a meaningful part of the business, growing that business, using the assistance in partnership with a private equity fund and then eventually selling it. Again, this is the proverbial second bite of the apple and finding that that's far more value creative than simply selling 100% or something close that to a strategic buyer today.

Mark Dufilho: The flip side is, there are certain categories out there, be it certain branded snack and branded food categories, beverage, health and beauty where the strategic buyer appetite given some significant trends that are taking place with their core brands in the market. Strategic buyers are paying extremely high multiples for businesses that in some cases are still fairly small brands. So we do see that as an opportunity to take advantage of what's happening to those strategic players and really capture some of that value early. But overall I'd say it comes down to the company's specific situation and and what their real goals and ambitions are.

Luke Peters: Great. And also I'm kind of on that point in how buyers are looking to companies and given the recent drop or the cost of capital is getting cheaper, right? With the recent FED moves and also expected additional cuts, is that going to, you think push or drive the market higher even now that the rates might come down further and the lending might be cheaper or does it not have that much of an effect?

Mark Dufilho: So all things equal, it certainly has an effect that if the cost of capital goes down, values go up. The flip side of that is one of the reasons that the cost of capital may come down. So rate decreases is growth is slowing and there's more uncertainty in the economic and the consumer environment. And so any value increase you may see mathematically from that is likely going to be offset or more than offset by a lower outlook for growth going forward.

Luke Peters: Yep, makes sense. Okay. And now let's talk about channels and how much those... And before I get into the question, there's been a lot of talk or at least conversations I've had or with friends and stuff about how driving the volume and value of direct to consumer channel within a company is really important because that portion of the company will get a higher multiple than say an in store portion. Investors are more excited about the consumer or the brand owning that direct connection and sale to the consumer and being able to not have to rely on the big box stores 100%. So the question around this is, if you look at three different revenue streams... And first of all, does this even matter? But the question is around three different revenue streams. Maybe a company is selling into Amazon, maybe they're selling in-store and then maybe they're selling direct to consumer on their website. Should that brand owner be focusing on growing that direct to consumer channel even bigger just for the sole purpose that he or she might get a bigger multiple upon exit.

Mark Dufilho: Sure. There's a lot to unpack there. I'll try and take it sort of one step at a time and do it efficiently.

Luke Peters: Sure.

Mark Dufilho: Channel absolutely matters. There's no question about that. Whether you are selling to a general merchandiser, whether you're selling to the grocery channel, whether you're selling to a specialty retail, whether you're selling to Amazon or Wayfair, whether you're selling direct to consumer online', channel matters very much. It impacts your cost of marketing, it impact your profitability and margin structure and impacts your growth, so on and so forth. I think one of the biggest miss normal that's in the market today is brands and companies, particularly some privately held companies confusing a direct consumer strategy with an eCommerce strategy and then a traditional brick and mortar strategy. So a direct consumer strategy is one in which that brand is responsible for identifying, acquiring, communicating, and then closing a transaction with the consumer. That requires a marketing expertise, eCommerce expertise, customer service expertise, that requires many different facets of owning that customer relationship, cradle to grave.

Mark Dufilho: If you can successfully achieve that and have a model that is sustainable in terms of that longterm customer value outweighs the marketing cost of acquisition within your margin structure, you've built the most valuable form of business model because you own that customer relationship. You have that customer data and information and you can hopefully then repeat on a transactional level with that same customer over time. If you sell through Amazon, you don't own the two most important aspects of a customer relationship. You are not acquiring that customer and you are not closing a transaction with that customer on Amazon or Wayfair or any of these marketplace sites, irrespective of whether it is an Amazon sale or a third party 3P marketplace sale. Amazon is acquiring that customer. Amazon is identifying how the product will be laid out, how the options for the consumer will be laid out in terms of priority and Amazon is closing that transaction because the consumer trusts Amazon. In that case that buy button is checked because they trust that prime relationship or that Amazon relationship.

Mark Dufilho: The reason why Amazon or Wayfair or any eCom relationship is more attractive than an in-store, only comes down to growth. That's it. Amazon is attracting eyeballs and traffic conversion at 20% growth rates. In-store in some cases is able to drive a couple of points of growth. In many other cases it's acting negative comps, but your concerns around customer concentration, your concerns around where power is and leveraging in the channel is no different with an Amazon or Wayfair relationship than it is with a Walmart direct target relationship. They're just providing better growth and they're providing better data and ability to manage your business on a realtime basis versus being tied to the old school model of change out your planigram twice a year.

Luke Peters: That's super helpful.

Mark Dufilho: I just said a lot, Luke. Does that make sense? Is that helpful?

Luke Peters: That's super helpful. Yeah, you're educating me. So I'm taking notes. Saying that they're the same, except for the differences that you kind of explained right there I think is really helpful. And just zeroing in on the growth and in addition the growth, but also the fact that there's a huge learning curve. So a lot of... There could be the growth times two or three for some brands just because so many folks don't know how to sell into the Wayfairs and the Amazons yet. So, that part's really interesting. But the fact that you don't own the customer either way. And so kind of a... And what else you mentioned was that the direct to consumer is 100% the best way to go. It seems like there's less and less of those companies that are able to be successful and have a customer retention or lifetime value with how expensive customer acquisition is right now.

Mark Dufilho: It's very difficult to get right. For every successful model that's created, for every Harry's that's created and venture backed, I should say. Very few of these are actually bootstrapped or cashflow positive from the beginning. For every one of those that's created, there is a litany of companies that are never able to make that model work. Establishing a direct consumer relationship is the hardest thing for a brand to do and there's nothing wrong with a model that says go after an eCom relationship built on a portfolio of Amazon, Wayfair and the .com site of all of the other players, be it the Walmart or Target or Lowe's or Home Depot. It's a very valid and good strategy to tap into that eCommerce growth. And there is a skillset in understanding how to service that customer relative to selling to Walmart and Target.

Mark Dufilho: We talked about it a minute ago, you're no longer going in making the trip down to Bentonville twice a year to reset the planigram. You are managing your business via their sites on much more of a real time basis. And the rules of engagement are changing rapidly versus an in-store experience where the rules of engagement change at a very slow pace. And that requires a distinct and unique skillset that a lot of companies that are used to selling on an in-store brick and mortar basis simply don't know how to navigate.

Luke Peters: Yep. And we have seen that our direct to consumer business has comped with big gains year-over-year. Part of it, because we've got a great team here and we've got a really good strategy and it's significant but it's not one of the largest components of the company yet. But it's been growing and part of it... And this is without even reducing prices because we don't want to compete with our key customers or the Wayfairs and Home Depots. But I think just with the products all over, all of these eCommerce sites, there's a lot of branding out there and it grows the brand. And so anyways, just something that we've seen on the newer .com site is a lot of growth. So it works hand-in-hand, if you work in all three channels, the more eyeballs are getting on your products and there's quite a bit of a branding involved.

Luke Peters: Cool. So that's a lot of information but it's helpful in new information. So it's great. Kind of leading into, again what brand owners should be thinking, what are maybe the most important three things that an owner should be focusing on pre-exit or pre-sale that's going to result in the best valuation?

Mark Dufilho: Sure. There's probably more than three things. What I would say is, if you are contemplating a sale of your business or hiring an advisor or entering into a a set of discussions. The first mistakes that that owners can make is, they try and maximize near term profitability in order to drive the value of the business up. Going back to the EBITDA and the multiple conversation we had at the beginning of this session. And what they do is they jeopardize the longterm health and the longterm growth outlook for the business. Making temporary decisions because a sale process is coming up to window dress the company or try and improve the profitability is always a mistake. Investors see through it and as a result they actually lose faith and trust in how that owner has been running the business. And they start to question everything that the owner may be presenting, which cuts against the very fabric of why transactions gets done and not at the level of trust that's achieved.

Mark Dufilho: That's the first thing I would say is, ensure that you continue to make decisions as if you are going to be the owner of the business for the longterm. You very well may end up being the owner for the longterm. Then make every decision that way. Don't try and maximize short term profitability or otherwise continue to make longterm investments, continue to make longterm decisions.

Mark Dufilho: I think the second is... It goes hand in hand with this, is not to be afraid to make investments and bets on growth projects. Sometimes owners in preparing for the sale process will hesitate on investing in a new growth avenue. Concerned that it A, may be money wasted if it doesn't return. Or B, it may prove out not to work, thereby taking that growth lever off the table, proving it not to work for the next buyer. Continue to do what brought you to the success at this point and continue to make those growth investments and run the business you always have.

Mark Dufilho: The third thing I would say is prepare. Running a business for your own purposes or your family purposes or with your couple of your business partners is very different than running a business with outside institutional capital. And there's a level of financial process, a level of sophistication, a level of financial control and accountability which is expected. And it's always very helpful to go through that process in advance of having a sale discussion versus having someone point that out to you halfway through the sales discussion. And it causing you to lose momentum or lose the the buyer altogether. You cannot prepare too much in that respect. You have to ensure that your data is reliable, it's transparent, it's visible, it's compliant with GAP and it's going to make intuitive sense to whoever the investor is.

Luke Peters: Those are super helpful. And piggybacking on those questions... And I'm going to ask you for an estimate here. It might not be easy, but for deals you do say under 100 million or under 150 million, what percentage of those companies are going to have... Already coming into the deal, have audited financials savers, reviewed financials... In other words, the question is, how important is it for brands to kind of step up their financial reporting on their end?

Mark Dufilho: Sure. An audit is incredibly helpful. As an audit signifies a level of financial control and reliability that an investor can look to. I would say the vast majority of deals that we do... And by vast majority, at that size range, I'd say probably 80% plus have audited financials. There certainly still is 20%, 25% that has some level of reviewed financials. Those deals tend to be smaller high growth businesses that are getting outside the multiples, thereby the deal value is higher, in which case an audited... The company has grown so quickly and so fast, that an audit is truly not helpful to the course. Because next year's revenue is twice what last year's was and the investors is looking at this as an entirely different investment criteria. Then if it was a slower modestly growing business.

Luke Peters: Cool. That makes a lot of sense. And I've heard that advice, a very similar advice, it's good to hear that's on point. What type of consumer product categories are you seeing that are really hot and have a lot of attraction?

Mark Dufilho: There's a number of different categories that we're still seeing a lot of activity and so. So certainly on the food and beverage side, we're seeing interest in activity both in branded products, but also in private label and contract manufacturing. As people sort of think up and down the supply chain. Brands have separated from production almost entirely in many facets versus being vertically integrated. And so there's opportunity both at the brand level as well as if you take a step back in the supply chain. And we see a good amount of M&A activity there. There's a lot of growth and a lot of activity in the beauty space, whether you're talking about skincare or haircare, whether you're talking about direct consumer concepts, whether you're talking about digitally native brands that have been fueled through social media and Instagram campaigns. There is a a fundamental shift underway from the traditional lifts they Lauder department store consumer, to one that is exclusively purchasing online with the occasional visit into a Sephora or an Ulta. And there's been a lot of M&A activity and growth that we've seen in that segment as a result.

Mark Dufilho: Within the broader... What I characterize his own products segment, most of the growth that we've seen in excitement has been around either particular categories like pet, which remain very interesting with the humanization of pets and all of those trends that we see through in the kitchen. We still see very good growth trends in terms of the better for you aspects around a home cooking, pre-prepared meals, kitchen gadgets and tools. All of which I'd say are on the loop in an eCommerce growth environment. We are seeing more activity and more deal activity around companies that are either very positioned in an eCommerce environment via Amazon and Wayfair and others we've talked about or those that have been able to curve out a direct consumer presence and in many cases a combination of both. And what I'd characterize as the next generation Omni channel, which is your own direct to consumer as well as third party eCom. But look in this consumer market, there's growth in any pockets. So long as a company has something unique and differentiated to say, I mean it resonates with the consumer.

Luke Peters: Cool. And that's super helpful. You have specific categories there and the listeners can see if they fit into any one of those categories, but overall the market is still really hot, right? Is that what you're seeing on your end?

Mark Dufilho: Apart from the tariff dislocation we talked about a little bit ago, I would say the M&A market remains as robust as it has ever been. And that's entirely an issue or a result of there being so much capital out there in search of returns.

Luke Peters: Yeah. And just to be clear, so this recording is on September 11, 2019. Because I know these things change all the time. And when listeners might listen to this podcast in the future or when we eventually launched this podcast. But it's good to get that pulse right now of how things are going. Unfortunately for those of us in the tariff segment, those are the challenges. But just like a couple of my friends have said, they've just flipped the whole conversation and said, the tariffs have ended up being a good thing for them. Because it forced them to look at their supply chain and restructure their pricing and are paying a ton of tariffs. But their company's coming out strong on the backend. So we'll have to take that positive approach to it and kind of do things the same way.

Mark Dufilho: That's right. I agree with that statement.

Luke Peters: Cool. And Mark, listen, I know your time is super valuable, so I just want to thank you for coming on today. Is there a way that the listeners can get ahold of you or anything, contact you on LinkedIn or what would be the best way?

Mark Dufilho: Yeah, so I don't know what sort of access there is on the podcast to contact me through you, but you're more than welcome to contact me via LinkedIn. It's Mark Dufilho, D-U-F-I-L-H-O or through our firm. And my firm is Houlihan Lokey. You can easily find us, we're in 24 offices around the world. So I welcome questions or comments from any of your listeners and happy to try and be helpful if appropriate.

Luke Peters: Yeah, I'm not sure what interaction we have in the podcast, but for any of the listeners out there, happy to make an introduction. Just find me on LinkedIn and then I can intro you to Mark. So thanks again. I really appreciate your valuable time Mark, you're super insightful. I learned a lot. I took a lot of notes and for all the listeners there, we're going to have these notes in the podcast notes. So we'll have the podcasts and below it we'll have a bunch of written notes that'll hopefully give you guys some valuable information. And I just want to thank everybody for joining us today. On the Page 1 Podcast sponsored by Retail Band. And if you're a brand that is maybe focus on in-store and your eCom portion isn't as strong as you'd like it and you want to grow more on Wayfair and Home Depot, we can help you with Retail Band.

Luke Peters: We can do all the things that we've done with a newer brand. We can help you understand the algorithms for each of those individual sites and bring you up to page one. So you get the most eyeballs on your products and drive your sales. And in addition to that, we can do something really unique on the influencer marketing side and we can help you launch your products. And we call that speed to sale. Meaning when you bring that inventory in, we can work with influencers to get reviews and marketing collateral and buzz and videos and really cool content that you can re-use. But also drive that inventory quickly, especially on new ski launches. And we can do that with micro influencers and we have a whole program set up for that. And we'd be thrilled to work with you on either one of those fronts. You can contact me for more information and I just want to thank everybody for listening and thank you, Mark for your time and hope you have a great day.

Mark Dufilho: My pleasure, thanks Luke.

Luke Peters: Great. Thank you.

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What you’ll learn:

What’s the point in investing in IP? Tina Loza joins us on The Page 1 Podcast to talk about why brands can leverage Trademarks, Copyrights, and Patents to add value to their business. She also walks us through how to handle a Cease and Desist Letter and gives us a breakdown of Amazon’s new IP Accelerator.

About our guest:

Tina Loza founded and manages Loza & Loza LLP, an intellectual property law firm with almost 40 IP attorneys and an amazing staff located nationwide. She works with clients on creating a branding strategy and having a strong portfolio of trademarks that add value to their businesses. Her firm, Loza & Loza, just became one of 10 trusted law firms to partner with Amazon IP Accelerator and provide quality service to brands securing a trademark.

Key takeaways from this episode:

Trademark vs Copyright vs Patent: which one is best for your business? – 2:57
How IP assets will increase the value of any business – 7:43
Should and how do you design for a Patent? – 11:07
A breakdown of the patent approval process (also known as nonobvious) – 12:43
Steps to handle a Cease and Desist Letter – 14:18
Loza & Loza’s unique law firm structure is challenging the way firms work – 18:10
What is Amazon’s IP Accelerator? – 26:14
Who needs Amazon IP Accelerator? – 32:30
What was Loza & Loza’s biggest win this year? – 33:44
How a company comes together in a virtual environment – 35:13
An actionable step for creating value with IP – 38:33

Get in touch with Tina: tina@lozaip.com and www.lozaip.com

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

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What you’ll learn:

A seasoned eCommerce leader and startup founder tells owners of consumer brands how they can take more ownership of their brand image and connect to their audiences on a deeper level. Plus, you’ll get insights into how to turn customers into a powerful sales channel for your business.

About our guest:

Neel Grover is a seasoned eCommerce leader who has led great teams at multiple fast-growing companies. He ran the 3rd largest marketplace in the U.S. with over $5 Billion online sales and over 20 million products from 7,000 retailers. He also ran a top fashion marketplace with over 1,000 brands integrated. Upon becoming CEO, Grover turned Buy.com into a company that was losing almost $100 million per year into a company with 13 consecutive profitable quarters, competing with Amazon on every product. He has now founded Indi, a SaaS Engagement Cloud that helps brands initiate their customer engagement directly in their digital properties rather than in social media as social media platforms are seizing control of customer engagement and data.

Key takeaways from this episode:

Lessons from a lawyer: how Neel’s law background influenced his business decisions – 3:18
The journey towards becoming a CEO of a $600 million-dollar revenue company – 4:52
The shift from a large company to startup: what you need to know as CEO – 6:04
How to turn a business around: from major loss to major gains – 7:31
Innovative ways for competing against the giant: Amazon – 9:50
Is it a good idea to help your competitors by sharing your business model? – 12:07
A new perspective on Social Media is and how to utilize it as a business – 13:11
How to use Indie to approach Social Media and Affiliate Marketing differently to drive sales for your business – 15:54
How to integrate video testimonials into your D2C site and why it matters – 19:17
The importance of investing in your D2C Channel for long-term rewards – 20:37
The day-to-day sales process for acquiring new customers as a startup – 24:34
One of the biggest challenges for acquiring new customers as a startup – 25:53
The most important factor to focus on when growing a D2C business – 28:06
Neel’s biggest business win in the past year – 29:53
One actionable business step to take to help your company – 31:05

Get in touch with Neel: Visit www.Indi.com or email sales@indi.com

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Positive thoughts? Leave us a review on iTunes

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Want more information? Listen to EP8 of the Page 1 Podcast for more insights into growing your D2C Channel

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What you’ll learn:

In today’s episode we dive deep into the new Home Depot Advertising Platform, PromoteIQ. Luke talks about the new PromoteIQ features, what makes it different from other ad platforms out there, and how this new shift in services will affect your consumer product brand (for the better).

About our guest:

Luke Peters is the founder of five companies. Skilled at taking a product from concept to high-volume sales at Home Depot, Lowes, Wayfair, Walmart, and Amazon. He is also the president and CEO of Retail Band, an expert r-Commerce agency that works with select brands to manage and accelerate their online business on retailer platforms such as Best Buy, Home Depot, Lowes, Wayfair and Walmart. Retail Band started the Page One Podcast. It is a weekly Podcast and as the host, Luke interviews a variety of guests and thought leaders on topics ranging from channel strategy, tariffs, influencer marketing, product launches, and the details about how to grow ecommerce with big box retailers. Luke is the President and CEO of NewAir Appliances, Inc. which ranked as one of the fastest-growing private companies (Internet retailers) in America for three consecutive years.

Key takeaways from this episode:

An overview of the new Advertising Platform on Home Depot – 2:05
What makes PromoteIQ different and how it will affect your business – 2:54
Why brands should consider using Ad Platforms across all retailers – 6:23
What are In-Grid ads and how will they help you – 7:12
The two major reasons to use PromoteIQ and features unique to it – 7:50
The future of geo-targeting through Home Depot – 9:37
Essential features to understand about PromoteIQ – 10:05
The shocking data difference between PromoteIQ and Criteo – 10:59
How to think about the long-term benefits of your ad campaigns – 11:33

Need more expert advice? Learn more at www.retailband.com

Positive thoughts? Leave us a review on iTunes

Want to connect? Follow us on LinkedIn

Want more information? Read more at https://retailband.com/blog/

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What you’ll learn:

Traditional selling and distribution will never be the same, thanks to Amazon. Our guest, Brian Beck, explains how brands have a huge opportunity to capitalize off this massive marketplace. You won’t want to miss it.

About our guest:

Brian is an eCommerce industry pioneer with 20+ years of experience, including more than a decade as a hands-on, C-level executive at companies like Harbor Freight Tools and Pasun. He has repeatedly driven annual revenue growth rates in excess of 100% per year and has built digital commerce operations to hundreds of millions in sales. He’s also the author of ‘Billion Dollar B2B eCommerce’. Today, Brian serves as a trusted advisor to dozens of mid-markets and global B2B firms on eCommerce and Amazon strategy and is a regular speaker at the top industry conferences.

Key takeaways from this episode:

Why all brands can (and should) capitalize on Amazon – 4:50
Dealing with margin decline and how to stay on top of search results in a competitive marketplace – 9:22
What makes the most sense for your brand: Seller Central or Vendor Central – 17:20
The future of Seller Fulfilled Prime – 20:00
Amazon’s biggest priority as a business that you always need to keep in mind – 21:27
Deep dive into Reviews: how to generate them quickly (the right way) – 22:22
Three steps to take to successfully sell on Amazon – 29:27
Counterfeit companies and Amazon White Labeled Products: the advice you need to hear – 33:56
How to handle the fake, negative reviews that are killing your product – 39:35

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**What you’ll learn:**  Atul Vir is resilient when it comes to facing adversity in business. Tariffs hit 70% of his product line. But that is just another story him will overcome. He tells us about the challenges of manufacturing a specialty consumer product company abroad, shares his strategy for bringing his products to the global market, and gets honest about trade tariffs.   **About our guest:**  Atul Vir is a hands-on CEO, seasoned entrepreneur, inventor, business ethics thought leader, speaker and author living the American Dream. He’s lived on 4 continents, making his way from India to Europe to Africa and, finally, to the United States. His business acumen has been featured on CBS, HGTV, Oprah, Fortune, Popular Mechanics, The New York Times, and The Wall Street Journal. His company, Equator Advanced Appliances, has been listed as one of the Top 100 fastest growing companies in Houston for 3 years in a row. He also holds 18 patents for appliance technology. His award-winning products are sold in the home, recreational vehicles and marine markets.   **Key takeaways from this episode:** * Sourcing products in Europe: challenges and global trade transformation – 7:20

Why strong product strategy is the key to competing against larger companies – 9:16
Manufacturing in India: what to expect – 10:00
Problem-solving your product line for consumers in developing countries – 11:09
Who are the major selling channels and why? – 12:59
How big-box retailers democratized marketing and sales – 15:33
No two retailers are the same: how to manage buyer expectations – 18:15
Biggest focus of growth for Equator Advanced Appliances – 20:46
Patents: are they right for your business? – 24:10
Patents: navigating the challenges that come with getting one – 29:50
Tariffs and the reality of its impact on your company – 33:31
Biggest learning lesson as an underdog entrepreneur – 37:25

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https://open.spotify.com/episode/0FZQX6RzE9sqNHOn90gMnY This past May, the U.S. raised tariffs from 10% to 25% on $200 billion of Chinese goods and Chinese businesses aren’t the only ones feeling the pain. This was then raised from 25% to 30% in recent weeks. If you manufacture your products—or even just components of your products— in China, the new tariffs will hit you square in the bottom line.

Fortunately, there are ways you can spread around the costs to keep your margins healthy. Host Luke Peters goes over how to survive these China Trade Tariffs through practical ways from going to your suppliers to helping pass along costs to your buyers.

Podcast Transcription Thanks for joining us on the page one podcast. I'm your host, Luke Peters. And today we're going to be talking about tariffs. And as you know, I'm the CEO and founder of NewAir appliances and we are right in the middle of this tariff situation. So today I thought it would put out this small podcast, but show you guys exactly how we're handling the tariff situation and hopefully bring you some valuable, insightful information that you can utilize in your own companies. And for those of you that are not having to deal with the tariffs, give you just some better insight of these challenges that the tariffs are creating, which, which are huge today, I'm going to show you how we have a three step process on how we handle tariffs. At NewAir and with our new company Retail Band, you can learn more about hello@retailband.com where we can bring these services to other companies that need that help.

We can show you guys how we handled the process the same way we do it here at new era. So let me just hop right into it. First thing about the tariff is to think about the three areas where you can drive the revenue back to your company. So first you want to renegotiate the factory cost. That's an obvious one. I'm going to get into actually how we do that and also even talk about results that we've seen. Next, you're going to go into logistics. There's tons of areas in logistics. We'll talk about ocean freight and domestic freight and a bunch of examples in between. And then finally you're going to renegotiate with your retail partners. And that can be tough, sticky, uncomfortable, but it's something that has to happen. And in this quick podcast, I'm going to jump into all of those. So first before I do let, let's talk about what everybody is saying and what is reality.

Okay. So if you're watching the news you're going to hear that the factories are going to eat the cost and that all the product brands are going to be able to pass this on to the customer. And I can tell you that for the most part, that's not correct. Some of it is going to get passed onto the customer. It's going to be delayed and being passed onto the customer. It's happening right now for a number of reasons, which we'll go into. But I mean, these, the large retailers, they don't want these price increases and everybody can understand why and who's really getting squeezed or the brands themselves because the factories in China are also not taking on this full increase. They're not able to, PR prices were probably already negotiated down. The RMB hasn't really moved as much as the, like to make it seem like it's moved on.

The media move maybe 5% from last year. And I mean, it's up and down all the time. So just depends on when you listen to this podcast and if you look at the past trend, so you're able to get a price increase in a factory and the factories definitely are, you know, in a partnership or helping out, but not to the extent that you might, you know, see on CNBC where everything is immediately getting passed onto the customer. So there's a big difference between what everybody is saying and what is reality. And I'll give you some specific numbers. I've talked to a lot of friends and everybody's pretty sensitive on, you know, kind of saying how much they've been able to get from their factories and also sensitive on saying how much they're average increase in the retailer end is. So what I'm going to do here is I'm just going to kind of aggregate those together and just give you a general feeling.

And then with your company, hopefully you fall in this range. Okay. So we're not going to name any names here, but what I'm hearing is on the factory end, and this is probably a sampling of over 10 companies that they're seeing about five to 12% of a decrease. Okay. Some might see a little bit more than that, but what I'm hearing is about five to 12%. Most people are not getting as much as they thought they were going to get. Okay? That's just the general feeling is that they're not getting as much. And a lot of times because they had it, you know, pre tariff, they already had prices negotiated down. Who knows, maybe the factories are better negotiators. It's hard to say and it does change depending on the type of product. I've noticed that for products that are made outside of China as well, that the price decreases more significant.

Meaning if there's manufacturing capabilities in Southeast Asia Cambodia, Vietnam, I just in those product categories then just a small sampling of companies I've been speaking to, I'm seeing a little bit of a larger price decrease. Okay. Now let's talk about the retailer. And so what we've been seeing and just again aggregate because it's pretty sensitive information, is that most companies are getting about an average of an 8% increase. Now this is going to be totally different across product categories. Okay. And so in the categories we're just a lot of my friends are in, that's kind of the increase that we're seeing now. Some in some areas they might have more control, but we're talking about if you're, if you're passing this on to a big box retailer that's about the, you know, the extent of the amount that they're taking. Keep in mind though, 8% on a wholesale price is more than 8% on your cog.

I mean, I know I'm stating the obvious here, but we have to keep that in perspective. So that may be equivalent to let's say you know, 12 or 14% on the COGS. So you're getting a significant part back, but you may not be whole. And that's the key thing. And, and I think a lot of the retailers think that the brands are whole. They're not, you know, and I know recently just target, you know, there was an article where they're not accepting any price increases and and it's difficult. So, so I just wanted to kind of give an overall feeling of, of what I'm seeing, what I've heard and I think hopefully we'll put some of you guys at ease if you're not getting the increases and decreases that you would have hoped for. Now on the flip side, one thing I have seen is I've seen some companies and they've gotten their increases right away.

We're talking months ago and then others it's taken longer. I mean, you know, even with my own company, it has taken us longer and it's a big frustration and we'll talk about that. So I'm going to get right into all of these details. Okay, cool. So let's start with the sourcing side. Obviously you're going to go get factory price reductions. That's the first thing you're going to talk about. But there's a couple of other things that may be less obvious that this is a great time to go communicate to the factories. The first one I'd say is, is probably your net terms, whether you're getting terms or not from your factories, you can probably get longer, more extended terms and you can kind of just increase your credit or AP by doing that. And while it's not a price decrease having an increased credit is valuable and you can quantify it some value to that.

I mean, if you're dealing with the bank or have an ABL or you're paying a certain interest rate for a line of credit, now you can kind of push some of that, a significant amount actually off to your factory partners. Okay. So that's the first thing that I would work on. And definitely the feedback I've had and in our own personal experiences that you should be able to move the needle pretty good right there. The next thing to look into our volume rebates. So again, maybe you're able to get a certain distance with a price decrease with a factory, but then you can build in a volume rebate. And this is a great win win. It's a great partnership idea in the sense that, you know, if you're doing X million, but now you're doing, you know, X plus two or whatever it is, you know, 10 20% or 10% increase that there is a rebate and everybody kind of shares in the success.

Their rebates can be huge motivating factor and you know, they can be pretty significant. And a couple additional percentage points right there. Other areas that might not be super obvious is packaging refinement and volume rebates. So depending on how you're working with your factories and how you're placing orders and how far out in advance you're placing them, if you go further out, you can probably expect some volume rebates on that end. There's a lot more you can do at a factory, but those are the couple of significant items that I wanted to point out. And of course just meeting in person, right? I mean don't go out there once a year. The more that if you have a team out there that's even better. But the more you're joining a dinner together and meet in your factories, you're going to get further along. So make sure your teams are getting out there.

Now let's move on to logistics. So we're going to go through several different categories here and hopefully this will give you guys something to think about and where you can either do some cost cutting or refinements or increase efficiency then your operations. So the first, the biggest one I think is go re-quote your ocean freight. I mean depending on how large your operation is and how many containers you're bringing across. There's been a lot of changes recently. There's new companies, we've had some big success there recently and if you email me happy to share kind of suggestion or puts you in touch with who we're working with right now. Definitely the ocean freight's a huge one. You can also work in your drayage costs. Even your domestic shipping costs. I mean the, these are just obvious things, but you should always be re quoting these and, and getting the best rates.
And then very obvious things is like on the operations side, of course you're going to go look at all your, your expenses. That's an obvious one, but how about this? Do you have a metric of efficiency for every single department? Meaning similar or akin to a P&L, but are you measuring efficiency to making sure that just because you were doing things a certain way last year, is that really the best way that you should be doing it? In example, would be this, like in customer service, are you tracking the cost that it takes you to handle every single call and every single email? These things are not that hard to set up. Once you put it together, you can select targets and then you can just make sure that you're running each department the way it should be and you're tightening it up. And also at the end of the day, what happens is you end up getting better customer service because you can measure plenty of other things.

I want to go off on a tangent, but that's a good example right there. Okay. Quickly moving along. Marketing. Are you measuring your ad dollars? When you spend your ad dollars, are you measuring them at the SKU level? Again, sounds obvious, but most people don't do that. Okay. If, let's say you're working with Amazon and you're spending AMS, I know agencies after a while, you know their feet are up on the desk, you got to make sure that you're looking right down to the SKU level, not letting it go out too far with the ACOS. Don't getting tricked into just looking at the, at the TACOS, which is the total advertising spend and making sure that you're profitable and all that ad spend and I mean that that's going to go for your Google advertising or any other advertising that you're doing.
And then we'll quickly move now down to sales. So in sales, obviously this is the items I went through were obviously operational and sometimes people don't think about those when they think about the tariff increase. And I just wanted to touch on those quickly. But now we're going down to sales and usually in the tariff conversation it's just talking about how much can I say from my factories and then how much can I pass on to our retail partners. And again, this model is more of like a, this is the B2B model, so it's if it's a direct to consumer, you can just raise your price right away. So this is, you have another partner, another big box partner. They're valuable to you and hopefully you're valuable to them. The first thing I would say is none of the big partners want to take a tariff increase.

It's a challenge for everybody. The second thing I would say is you might have to stop shipments if they're not going to work with you. I mean you just going to have to look at your profitability and often they're not going to react well unless you show them how important it is to you that you have to pass this tariff increase along. And we've seen this with experience and it's in all of the different businesses and friends that I've talked to. It's the same exact thing. So you can probably expect delays in getting that increase in. And this is another thing that isn't talked about on the news. You know, they, the tariff increases go in and immediately, you know, they're advertising that they consumer prices are gonna go up right away. Now it doesn't work that way. Usually the brands eating that cost for months as it's trying to move it across to the retail partners.
So anyways, I think that's one thing I, I just wanted to say is that this stuff, it can take a long time and it can take just a lot of back and forth a lot more than you might even expect. So whoever's managing the team is going to have to expect multiple calls and meetings sometimes with retailers, because I'm just, what we've seen our end is, you know, they say the price increases in and then you go and you check your actual POs and it's not, and so you have to go back where is the price increase? And then, you know, usually get a story about how, you know, there was something wrong with one of their systems and they got to go do it again. And this happens two or three times before you actually see it on your end. I don't know what the answer is on their end.

I don't know why it's not going through the first time, but this is just the experience and the experience of multiple people. So I guess it's just that stickiness of making sure you go back. A couple of things is in order to get the increased through, remember these guys are your partners. They have to be making money and the retail prices have to go up. So you may have to pull promotions along. The way you may have to submit new MSRPs to retailers. A lot of this has to happen in concert. So what it might look like is that you're going to have to find a way to get your retails up. You're going to have to make sure that the bad actors aren't lowering the prices. You're going to have to probably hold off on promotions. And then through that you can make sure that your partners are making money, which trust me is very important because they're going to come back to you if they're not.
And then hopefully you can get that price increase along the way. So, and the other thing is no one's going to accept the 25% it's, I know the tariffs had been happening in a while, and hopefully this is obvious to most of you guys, but it's funny how when they first came out, you know, some people want to just pass on the full 25 no one's going to accept that it's never going to happen. And that's why what a lot of brands are doing is they are creating new products. They're creating more valuable products for the consumer with, you know, extra features and, and other value adds like that. And then bringing a new product into the market. And when they do that, obviously they can factor in that extra cost and the tariff. And I think pretty much every single brand is doing that same thing.

And so we're gonna see a lot of new innovation, new products. I mean, this'll be good for everybody. Unfortunately, they're going to have a 25% increase in the back end, but there is no way to get around that. Okay. And then, and then just to kind of finish off here, just a couple of things, is that the buyers are smart enough to know exactly how much tariff you should be passing on. Remember, they're dealing with so many brands, they're getting these calls all the time. They can compare how much your competition is increasing the price. And I think that's why it is really important to partner with them and understand where the individual per skew margins are for you and for them. And then create that Excel spreadsheet yourself, put that together, and then you know how large the tariff increase is going to be as you pass it on.
So at the end of the day, they have a P and L that they're going to be managing all of their lines by. So they still have to be profitable. And of course, that's why it's called the partnership. So everybody's gotta be profitable at the end of the day and you can't pass it all on. But hopefully kind of these strategies that I talked about and a mix of ideas from the different companies that I've talked to interviewed will help you guys kind of understand different strategies you can utilize in your companies. And while most of these are, some of these might be obvious in the big picture, I think when you get down to the skew level or you get down to the different operational ideas, hopefully you got one or two ideas out of here that's gonna save you some money. And I guess what we're all for is that by the end of the year, these tariffs are gone.

But I can tell you personally that we're just planning that they're not going to go away and who knows how long it's going to go on for. But that's how we have to run the business so that we're still in business in a couple of years from now. Anyways, hopefully this podcast was helpful and these ideas are helpful. We'd love to hear back because it's such a fluid topic, so it would be awesome to get some feedback on this in, in what's worked for you. Anyways, thanks for joining the Page One Podcast. Again, if you guys need help on your product launches, influencer marketing, growing B2B retailers like Wayfair or Home Depot or any of those other big box retailers, that's exactly what we do. We focused down at the SKU level and we can help you get speed to sale where you launch a product and you have reviews and influencers talking about it and you have sales in philosophy a lot quicker than you normally would with the traditional ways of putting products up there and kind of waiting for them to sell. Thanks again, have a great day.

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What you’ll learn: We had a fascinating conversation with Mark Dufilho on how a business owners of consumer product brands can raise their evaluations pre-sale. He leads us through a crash course on how to bring a consumer brand to market and achieve liquidity for their business in the wake of China tariffs.

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Want more information? Related post: How to Survive China Tariffs

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What you’ll learn: We asked Jamie Libregts to share the tactics that drove online sales to be 60% of revenue, how and why he differentiates SKUs across all retail channels, and what social media advertising channel he’s using to drive sales to B2B sites.

About our guest: Jamie Libregts is the Director of Sales and Marketing for Reliable Corporation. A leader in the Garment Care industry since 1955. He has strong heritage in the B2B market working with organizations like Men's Warehouse, Indinchino, other alteration, dry cleaning and garment care manufacturers. Jamie helps leveraged the company’s experience in boilers to introduce some top-quality steam cleaners in the market. Reliable is a fairly new brand to the Housewares market, but is growing strong with a ecommerce focused strategy.

Key takeaways from this episode: * The Story of the Reliable Company – * Map strategies for protecting margins on Amazon – 6:45 * Channel differentiation strategies – 8:11 * What you need to know about product information software’s (PIMs) – 14:57 * How to integrate PIMs into company roles – 16:02 * Top advice for working with PIMs – 17:05 * Tariff pricing strategies for new and existing products – 18:57 * The process behind a successful product launch – 22:17 * Strategies to drive sales once a product is launched – 21:46 * Strategies to get more reviews for products – 32:17 * Final piece of advice – 34:17

Need more expert advice? Learn more at: www.retailband.com

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Want more information? Related post: How to Survive China Tariffs

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This past May, the U.S. raised tariffs from 10% to 25% on $200 billion of Chinese goods and Chinese businesses aren’t the only ones feeling the pain. This was then raised from 25% to 30% in recent weeks. If you manufacture your products—or even just components of your products— in China, the new tariffs will hit you square in the bottom line.

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What you’ll learn: In today’s episode, Host Luke Peters shares his personal experience using the Wayfair Sponsored Product (WSP) program and gives listeners tactical ways to increase important sales metrics, such as ROI, ACOS, and ROAS.

About your host: Luke Peters, President and CEO of Retail Band, has 17 years of sales and product development experience in the home appliance space. A self-made entrepreneur and founder of 5 companies, Luke is skilled at taking a product from concept and bringing it to high-volume sales at Home Depot, Lowes, Walmart, and Amazon. Retail Band, Luke’s new venture, is a r-Commerce agency that works with brands to manage and accelerate online business through retailer platforms. He is also your host of the Page One Podcast, a twice-weekly Podcast featuring interviews with thought leaders on topics ranging from channel strategy, tariffs, influencer marketing, product launches, and eCommerce growth on big box retail sites.

Key takeaways from this episode: * What is a Sponsored Product? – 1:59 * History of advertising platforms – 2:53 * What makes WSP unique? – 3:51 * Tips on how to manage your WSP’s – 7:19 * How WSP will benefit your business – 8:02 * Best WSP practices – 8:55

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What you’ll learn: We sat down with Paul Cosaro of Picnic Time to discuss how he got into eCommerce, what his best product launching practices are (as well as pitfalls to avoid), and his advice for navigating the China tariffs.

About our guest: Paul Cosaro is a millennial father of 2 who was born and raised in Southern California. He is a USC Marshall School of Business graduate and worked as a management consultant in the Media & Entertainment sector for 3 years. Paul has owned his own eCommerce business, Truin Retail Group, from 2006-2011. During that time, he built and ran 3 eCommerce sites within 3 niche targets: tailgating, picnic, and camping. In 2011, Paul was given the opportunity to join the management team at Picnic Time, where he then sold his ecommerce business and jumped headfirst into the world of outdoor entertaining.

Key takeaways from this episode: * Why it’s a good idea to diversify your retail channels – 7:57 * The most important skill Paul developed as a Business owner – 15:41 * Best product launch practices across multiple retail channels – 21:34 * How to convert sales on Big Box retail sites - 24:29 * The lost art of launching a product - 24:52 * The importance of D2C sales - 26:41 * China tariffs success story - 28:29 * Final piece of advice on how to scale your business – 33:51

Need more expert advice? Learn more at: www.retailband.com

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