Let's Talk Exits: Recent Episodes

Meny Hoffman

Today, there are more opportunities than ever to create a business and succeed. But with all of those opportunities also come challenges, questions, and confusion. “How do I rise above the competition? How do I manage my growth? How do I attract and retain top talent? How do I drive my business forward?”

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Are you sure how to streamline and systemize your Amazon FBA businesses to earn more and work less? In this episode, Michal Specian joins us to discuss his journey from launching his Amazon business, growing it to an eight-figure business with only a small team, and successfully selling the business. He shares his strategies for product development, product launches, optimizing listings, building teams, and systemizing businesses for successful exits. Michal offers practical tips on how to stand out from other sellers and breaks down the process of selling the business - from finding potential buyers to negotiating the deal. Tune into this episode for insight into successful Amazon brand-building!

Michal spent 4 years managing and growing an Amazon FBA Business to 8 figures. Years of process development and optimization allowed them to reach 8 figures with a small team of 2 full-time employees. Their brand was successfully acquired by an aggregator. Michal has recently launched his YouTube Channel, where he shows Amazon Sellers how to transition from Operators to Owners by systemizing their businesses and building teams.

Key Highlights:

[00:01 - 07:29] Growing Your Amazon FBA Business

  • How Michal managed and grew an Amazon FBA business to eight figures with just a small team

  • How the brand was successfully acquired by an aggregator

  • How to systemize your business to focus on the business instead of in the business

  • Michal's strategy for product development

[07:30 - 14:36] Gaining Detachment and Analyzing Data

  • How to analyze existing keywords to identify customer avatars and create variations of a product

  • Utilizing scientific method to differentiate a product from competitors

  • Make sure to gather data to understand customer avatars and what works for them

  • Why you should keep it simple with a small team

[14:37 - 21:54] Navigating the Exit Process

  • How to sell your business at the right time and get the best offer
  • What you should consider when looking for a buyer

  • Successful businesses come from consistent action in the right direction

  • Simplicity is key- Resist the temptation of trying too many tactics

  • Focus on understanding existing assets and constraints and figure out how to get where you want to go

[21:55 - 29:17] Increase Bottom Line and Overcome Internal Bottlenecks

  • Focus on customer and product

  • Action steps to get to know the customer avatar better

  • Understand where they are, talk to them, and find patterns

  • Listing optimization and launching process strategies

  • How to implement systems, build teams, delegate tasks, and create strategies

[29:18 - 38:54] Closing Segment

  • Strategies for delegation and building the internal structure
  • Advice for sellers who are stuck
  • Michal on the rapid-four questions

Connect with Michal:

Michal Specian (YouTube)

Michal Specian (Twitter)

Key Quotes:

"The key to consistency is simplicity." - Michal Specian

"The objective is not just to differentiate the product, the objective is to make it better." - Michal Specian

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you ready to crack the code on hiring and scaling your business with virtual assistants? From his experience of selling textbooks in college to building an army of VAs to run his business, Nathan shares his expert advice on outsourcing and delegating to grow a business. He discusses the importance of hiring the right people, setting expectations with potential hires, investing in training, and motivating people long-term. You will gain insight into the value of delegating properly, the three types of people essential to a successful business, the common mistakes entrepreneurs make when delegating tasks, and much more. Listen and enjoy!

Nathan Hirsch is an entrepreneur and expert in remote hiring and eCommerce. He is the co-founder and CEO of FreeeUp.com, a marketplace that connects businesses with pre-vetted freelancers in eCommerce, digital marketing, and much more. He has sold over $30 million online and regularly appears on leading business podcasts, such as Entrepreneur on Fire, and speaks at live events about online hiring tactics.

Key Highlights:

[00:01 - 05:45] How to Solve Your Hiring Problems

• How Nathan built an army of VAs to help run his Amazon business

  • Building Free Up and Outsource School

• The difference between success and failure

  • Mastering outsourcing and hiring the right team

[05:46 - 16:32] Mastering the Art of Delegation

• How to hire the right people and build trust

  • Entrepreneurs need to surround themselves with followers, doers, and experts

• Common mistakes entrepreneurs make when hiring

  • Not focusing on attitude and communication in addition to experience

• Why investing time, energy, and money into training someone is important for keeping them around long term

[16:33 - 27:04] Mastering the Art of E-Commerce

• Why setting expectations is key to successful delegation

  • Make sure to start with the easiest task that doesn't affect your business negatively

• How bookkeeping is a key part of e-commerce businesses

  • Bookkeepers need to understand the top line of Amazon, Shopify, etc.

• Growing real brands is important rather than "get rich quick" strategies

[27:05 - 30:17] Wrapping Up!

• The key to success in eCommerce in 2023

• Nathan on the four rapid questions

Connect with Nathan:

Nathan Hirsch (LinkedIn)

Outsource School (Website)

Key Quotes:

"Hiring is the difference between success and failure." - Nathan Hirsch

"You have to be able to surround yourself with other people that can help you get things done." - Nathan Hirsch

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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What do you need to focus on to still be successful on Amazon? In this conversation, Eytan Wiener explores his successful business model of bundling products and selling them on Amazon to help achieve maximum value for the eventual sale of his company. He discusses the importance of having a passion for one’s business and its industry, investing time and money into making quality products, and diversifying across channels to create a more sustainable and valuable business model. Eytan talks about the significance of delegation and objective decision-making for entrepreneurs to be successful. Tune into this episode full of insight from one of the leading voices in the eCommerce space today!

Eytan Wiener was the Chief Operating Officer and Co-founder of Quantum Networks, and the co-founded the Prosper Show. For more than a decade, Mr. Wiener has created an industry-wide awareness of the discrepancies that occur during the lifecycle of inventory sent by sellers to Amazon’s fulfillment centers. Wiener utilized GETIDA and discovered that they made the deepest impact in maximizing financial recovery for his company. GETIDA’s solution significantly affected his company’s bottom-line profit, thereby increasing the total value of the sale price, and contributing to Wiener’s successful exit.

Key Highlights:

[00:01 - 13:02] Maximizing Your Business Value for the Ideal Exit

• Eyran shares his background and work

  • The co-founder of Quantum Networks and the Prosper Show

• The early days of Amazon and how to be successful on Amazon

• Why you should bundle products and offer exclusivity on Amazon

[13:03 - 26:02] The Key to Success in the Amazon Ecosystem

• You need to invest time, money, and effort into making something better

  • Make sure all the pillars of a successful business are mastered

• Developing a passion for the industry is important for success

  • Leaders behind a brand are key to reaching its full potential

• Omnichannel is important for diversification and sustainability

[26:03 - 38:50] Tips on Delegation and Growing a Business Through Objective Decision-Making

• Entrepreneurs should make decisions objectively to maximize resources and achieve desired outcomes

  • CEOs should focus on high-level planning and delegate tasks to those more knowledgeable in the area

• The benefits of attending live events

  • Networking at live events is important to learn from others and build relationships

• Finding the right people and getting everyone to get along is key to successful companies

[38:51 - 50:54] Wrapping Up

• Stay up to date on the latest changes

• Eytan on the rapid-four questions

Connect with Eytan:

Eytan Wiener (LinkedIn)

GETIDA (Website)

Eytan Wiener (Facebook)

Key Quotes:

"You could make a product and sell it, you need to have good content, you need to have good photos, but it's not as difficult as in the olden days." - Eytan Wiener

"You could be in a business that you have zero passion, but you're never going to reach your full potential if you don't develop a passion." - Eytan Wiener

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Is there a way to gain more impressions and increase conversions on Amazon using posts? In this episode, Norman Farrar touches on the importance of building a brand and how you can develop a perceived value for your products. He digs into product development, how to optimize your listing, and how to utilize all the different tools Amazon provides in order to build a stronger brand. Norman breaks down the story behind the 'Beard Guy' name and how he helps other entrepreneurs become influencers on Amazon by infusing personality into a brand. Tune in now to hear this inspiring story and helpful tips on how you can succeed in the e-commerce space!

Norman Farrar is an entrepreneur who provides online marketing and managed eCommerce solutions for brands. He has worked with Fortune 500 companies such as Coca-Cola, Mercedes-Benz, and 20th Century Fox. Since the early 1990s, Norman has focused on helping entrepreneurs optimize their operations and unlock their business’s potential. Presently, he is the host of the popular Amazon podcast, Lunch with Norm.

Key Highlights:

[00:01 - 16:09] Expert in E-Commerce and Amazon Brand Building

• Norman's background and expertise in the eCommerce space

  • Providing online marketing and managed e-commerce solutions for brands

• How to forge relationships with buyers and reach specialty stores

  • Norman's advice for reaching potential retailers

• Why you should focus on building authority to increase trust and sales

[16:10 - 31:46] Building Your Brand and Understanding the Numbers

• Retailers have different requirements and expectations when it comes to inventory and packaging

  • Retail-ready packaging is essential for making a good first impression on buyers

• How Amazon has changed significantly over the years

  • It requires more focus on brand building, PPC, understanding numbers, and driving traffic to websites

• How to differentiate your product development and increase the perceived value

  • Differentiate through packaging, customer experience, and branding

[31:47 - 48:12] Product Innovation, Keyword Research & Internal Tools

• Do a competitive analysis of 10-16 competitors

  • Ask the manufacturer for product improvement ideas

• How creating demo videos with benefits/features can make a huge difference

• Utilize Amazon's internal tools (managed product documents, listing optimization)

• Unlock growth opportunities with Amazon posts, A+ content, and optimization strategies

  • How Amazon posts can increase the conversion rate from 20% to over 30%

[48:13 - 55:02] Closing Segment

• How Norman went from zero to a hundred thousand followers in a year

• Norman on the rapid four questions

Connect with Norman:

Norman Farrar (LinkedIn)

Norm Farrar (Instagram)

Lunch with Norm (Website)

Key Quotes:

"If you're not the authority if you don't have trust you won't get the sales." - Norman Farrar

"Never turn down an opportunity." - Norman Farrar

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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What if you could actually create a content machine outside of Amazon that will bring you traffic all day long? Aside from a great strategy to capture attention, content is something to immortalize who you are on planet earth. In this episode, Manuel Suárez digs dive into how content creation outside of Amazon can be used to create a legacy and leave something behind that will last much longer than any business. He points out how wide to go with different media platforms, how to develop proper content, and how to narrow your focus to ensure that you're serving a certain customer base. Tune in to learn the secrets behind building an e-commerce or Amazon brand that will stand the test of time. Listen and enjoy!

Manuel Suarez is the founder and CEO of Attention Grabbing Media. A two-time Inc 5000 award-winning digital marketing agency in Largo, FL. He is also the co-founder of NaturalSlim USA. An e-commerce brand that provides supplements and education on metabolism, weight loss, and health to the Latin American community. After declaring bankruptcy around 2010, Manuel found his initial entrepreneurial success by building and exiting an Amazon private-label bed sheet brand. From there he helped his father take his own company from two million dollars in revenue on the little island of Puerto Rico to over forty million dollars in eight countries, in the span of only four years.

Key Highlights:

[00:01 - 14:48] From Bankruptcy to Building a Successful E-Commerce Brand

• Manuel's journey in the eCommerce space

  • Founder and CEO of Attention Grabbing Media and co-founder of Natural Slims USA

• How Manuel found success building and exiting an Amazon private-label

• How to create a content machine outside of Amazon to bring traffic all day long

  • The incredible journey of Natural Slim and the power of visionary entrepreneurship

[14:49 - 30:06] Building a Legacy Through Content Strategy

• How to create quality content and capture the attention

  • Why content strategy is a way to build a legacy
  • Actionable tips for implementation of content strategy

• Navigating the balance between quantity and quality for brand building

  • It is important to have consistency in your content, but also ensure it is of good quality

• Why building a brand on social media without a personal brand is difficult

[30:07 - 52:20] Commitment, Quality, and Quantity:

• The keys to building an attention-grabbing content strategy

  • Commitment, quality, and quantity

• How to leverage opportunities given by technology to reach the world

• Why hiring people remotely is an underutilized opportunity in today's environment

  • People in other parts of the world are educated to work with companies in the US

• Amazon is still a great starting point for brands

[52:21 - 59:50] Wrapping Up!

• How his commitment to impacting people led him to success

• Manuel on the rapid four questions

Connect with Manuel:

Manuel Suárez (YouTube)

Attention Grabbing Media (Website)

Manuel Suárez (Instagram)

Key Quotes:

"You're a hundred percent made by the value that you've gotten from other people." - Manuel Suárez

"A faceless brand cannot impact today at the scale that a personal brand can impact or at the speed that a personal brand can impact." - Manuel Suárez

"Resources are available, but they're limited only to those people that decide to look for opportunities." - Manuel Suárez

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Curious about how to best do business with Amazon and what to do if something goes wrong? In this episode, Stan Friedlander digs deep into the culture inside Amazon, how Amazon is growing its own categories, and how Amazon really looks at large private-label sellers. He also discloses the acquisition between Zappos and Amazon and how that really reflected in the internal culture. Stan points out why Amazon is still the dominant player in e-commerce and encourages sellers to diversify their interests by selling on more than one platform. Listen and enjoy!

Stan Friedlander was chief merchant/gm of multiple categories for Amazon in both US and Japan for 10+ years, including all apparel, footwear, jewelry, watches, handbags, sunglasses, luggage, and costumes. He had full p&l responsibility over first and third-party marketplace sales and expenses for these categories, including all customer experience, marketing, shipping, and personnel expenses. His teams ranged in size from 100+ and oversaw revenues of $3.5B+, and he was responsible for launching luggage, kids apparel, and costume categories for Amazon in the US. My first role at Amazon was leading a team of six with revenues under $25M, so I was responsible for leading teams through colossal growth and innovation expansions.

Key Highlights:

[00:01 - 08:01] Tips for Building a Successful E-Commerce Business

• Stan shares his background at Amazon, most notably as the chief merchant officer for multiple categories.

  • His experience moving to Japan and his expertise in Amazon culture
  • Working with Zappos, and his current work as an independent consultant

• Stan's insights about Amazon and its growth

[08:02 - 30:48] How Zappos and Amazon Stay Separate

• The cultural differences and similarities between Zappos and Amazon

• How Zappos still does a significant amount of business on Amazon as a third-party seller

• Sellers should be careful not to overbuild their businesses

  • How could this lead to them being undercut by Amazon?

• Stan's outlook on Amazon's announcement of cutting back on its private label operations

[30:49 - 52:40] Is it Time to Diversify Your Interests?

• How Amazon will still be the dominant player in ecommerce for the next few years

  • Increasing their chances of success

• Businesses should diversify their interests by selling on more than one marketplace

• How to build a brand on Amazon

  • Differentiating your product on Amazon can be difficult, but it is important

[52:41 - 59:37] Wrapping Up!

• What to do if you have issues with an Amazon listing

• Amazon has become more automated in its responses, and it may be quicker to respond if you file a case.

• Stan on the rapid-four questions

Connect Stan:

Stan Friedlander (LinkedIn)

friedlanderstan@gmail.com (Email)

Key Quotes:

"You can build something on product-based search, but at some point, you better start recognizing when the customer starts recognizing this brand." - Stan Friedlander

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you ready to grow your brands and dominate on Amazon? In this episode, Jon Elder shares how he was able to build five brands and exit them successfully. He navigates into what has changed in the Amazon space, the importance of product development, and how to really be authentic on social media. John's advice for new Amazon sellers is to avoid making the same mistakes that he did, learn as much as possible about the market and product, and use that information to pivot into a thriving business. Listen and enjoy!

Jon currently runs Black Label Advisor, an Amazon consultancy focused solely on helping sellers and brand owners expand their reach on the platform and grow their businesses. Clients come to Jon from all over the world for advice ranging from listing audits to solving logistical issues. If your business needs an extra set of eyes on your business, Black Label Advisor delivers.

Key Highlights:

[00:01 - 07:11] Jon Elder's Shares Story on Amazon and E-Commerce

• Jon's background and what led to him launching his first Amazon brand

  • His five successful Amazon brands
  • How he became involved in the space, his successes and failures in product launches

• Focus on product research, product development, and avoiding failures

[07:12 - 21:38] What You Need to Succeed on Amazon in a Different Era

• The main places where things have changed for Amazon sellers

  • The quality of media assets, the need for professional studios, and real models

• Talk about how the brand started and give something for people to buy into

• Sellers are going deeper in terms of what they're innovating

  • Make it an incredible experience for the consumer

[21:39 - 36:21] How to Launch a Product on Amazon for Maximum Success

• What sellers should aim for when launching a new product

  • Being cheaper than the competition, ramp up sales quickly and use their email list to promote the launch

• Launch products with a long-term outlook and a target price that is fair to both the product and the seller

• How to determine if a product is successful

  • Look at units sold and whether or not the product is slowly chipping away at the pie in terms of revenue

[36:22 - 47:59] Wrapping Up!

• How to master social media for building more connections and relationships

• Why diversification is important for success

• Jon on the rapid-fire questions

Connect with Jon:

Jon Elder (LinkedIn)

Black Level Advisor (Website)

Key Quotes:

"If you educate yourself and you do the proper research, your rate of success on Amazon is going to be extremely high." - Jon Elder

"Go into micro-niches, find the next Nike product, and think bigger than Amazon." - Jon Elder

"Being genuine with your thoughts and your beliefs is just crucial for building out social media." - Jon Elder

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you weighed down by the time and stress of making a product? In this episode, Henrik Johanson, the CEO of Gembah, shares what has changed in product development and what elements people should take into account to get it to markets properly. He provides great advice for people who are trying to develop a new product and points out why it's important to have a clear vision and work with factories that can create the product according to their vision. Henrik and Meny disclose some of the trends they are seeing in the marketplace, the current state of product innovation, the shift towards manufacturing overseas, and much more. Listen and enjoy!

Henrik not only co-founded and leads Gembah, but he is a former CEO and co-founder of several venture startups, most recently Boundless, a $100M promotional products company and platform. When he isn’t focusing on building Gembah, you can find him trail running or eating Mexican food.

Key Highlights:

[00:01 - 05:56] Democratizing Product Innovation

• Henrik shares his background and work

  • How he came up with the idea of creating Gembah, a company that democratizes product innovation

• What has changed about product development

• How entrepreneurs can create products that have a real impact on the world

[05:57 - 17:13] Bring the Right Product to Market

• Why Amazon sellers need to be aware of the changing product development landscape

• Meny's experience learning more about the country's supply chain and factory systems

  • The reason why so many products fail in their journey from conception to sale

• How Gembah helps you find the right designer for your product

• How to validate an idea for a business before starting it

[17:14 - 28:50] When It's Time to Sell Your Amazon E-Commerce Business

• The key to success in the Amazon and e-commerce aggregated space

  • Developing a defensible product line that can be sold to the same customer over time

• Henrik's outlook on developing new products vs tweaking existing ones

  • Where is the level of creativity of entrepreneurs?

• The current state of product innovation, and why it takes more money to innovate on Amazon now

[28:51 - 34:08] Wrapping Up!

• People are trying to innovate in smaller ways, rather than developing new products altogether

• Henrik on the rapid four questions

Connect with Henrik:

Gembah (Website)

Henrik Johansson (LinkedIn)

Key Quotes:

"People recognize they have to create something different, but you don't start with something unproven that you don't know how big of a market there is." - Henrik Johansson

"Creating a brand new product is definitely higher risk, but higher reward. If you succeed, then you have a bigger greenfield opportunity." - Henrik Johansson

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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The discipline of truly understanding your accounting, your numbers, and your profits will help you to make decisions quickly and easily. In this episode, Jon Tilley talks about how important metrics and data are for every Amazon seller. He stresses how the marketplace has matured and why you should clearly understand your market, your niche, and your competitors in order to rank and be successful on Amazon. Pay close attention as Jon shares what happens when sellers don’t use data and the tools to their fullest potential. Listen and enjoy!

Jon Tilley initial career spanned 15 years working as an account director & strategist for some of the top digital agencies in Johannesburg, London, and Los Angeles before starting his own business. He started his Amazon Seller journey in 2014, launching multiple successful private label brands selling and scaling sales beyond 7 figures. During this time, Jon saw an opportunity to create a business intelligence software tools for Amazon Sellers, co-founding ZonGuru in 2016. ZonGuru continues to launch tools ahead of the market, and use data-driven techniques to help its customers create and run successful Private Label businesses on Amazon.

[00:01 - 06:05] How to Use Data and Metrics to Create a Successful Amazon Business

  • How Jon saw an opportunity to create a business intelligence software tools for Amazon sellers

  • Launching his own successful private label brands on Amazon

  • Understanding your metrics and data is essential for every Amazon seller

  • Networking is key to finding like-minded individuals, which can open up many opportunities for you in business

[06:06 - 22:43] How to Succeed on Amazon in a Matured Marketplace

  • How the marketplace has matured and how this affects sellers as a whole

  • The four fundamental questions that you need to answer when evaluating a product idea

  • You also need to do research on your target audience and understand their needs and wants

  • The importance of networking and taking action

  • Successful eCommerce entrepreneurs are those that are curious and are there to learn

  • One of the key factors for success is having a gut feeling that comes from experience and learning

[22:44 - 33:11] How to Launch a Product on Amazon That Will Succeed

  • There are certain things that successful business owners should never neglect

  • The key points for entrepreneurs when it comes to Amazon and e-commerce

  • Understanding the relevancy of keywords, quality score matching, and PPC campaigns

  • Account health, inventory health, and imagery efficiency are all important factors in Amazon's evaluation of sellers

  • How a launch strategy that includes using programs that Amazon offers is essential for success

  • It’s important to know when to discontinue selling an inventory item to avoid losing money

[33:12 - 39:33] Wrapping Up!

  • The key to being a successful entrepreneur
  • Jon on the rapid-fire questions

Connect with Jon:

Zon Guru (Website)

Zon Guru (Instagram)

Key Quotes:

"Data is always 50% of the equation, and the other 50% is the gut feeling." - Jon Tilley

"There's a lot of data. You have to understand how to use that to make good business decisions." - Jon Tilley

"You want to make sure you do the best you can at something, and then know when to stop and move on to the next thing." - Jon Tilley

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you figuring out how to build & grow your business while still having the opportunity to exit when the time is right? In this episode, Neil Twa shares his insights about how the eCommerce space has evolved and how you can still be successful if you follow the right path. He breaks down how he addresses launching new products and why it's a different approach than others. Neil digs into how to prevent yourself from sabotaging your business and make it grow organically. If you are looking to build a successful brand on Amazon, this episode is definitely for you!

Mr. Twa is the co-founder and CEO of Voltage Digital Marketing. He has been launching, operating, and growing private-label e-commerce businesses for the last 9+ years. Today, he and his clients have sold over $100 million+ in physical products primarily through the Amazon FBA sales channel. Neil shares his blueprint for how to build an online business that can generate a passive “almost automated” six-figure income in just 12 to 18 months. And how to set up the business for potentially millions in sales within 18-24 months through a 'pay as you profit' skin in the game model of consulting + performance-driven business mentoring.

Key Highlights:

[00:01 - 06:27] What It Takes to Build an Amazon or E-commerce Business

• Neil shares his background and journey in the eCommerce space

  • The co-founder and CEO of Voltage Digital Marketing
  • Launching operating and growing private-level e-commerce businesses

• How to build an online business that can generate a passive almost automated income

  • Setting up a business for potential millions in sales within 24 months

[06:28 - 21:08] How to Survive and Thrive in the Amazon Marketplace

• How the maturity of Amazon has shifted from being just about the algorithms

  • It's key to focus on brand development and competition research

• The shift towards product development has helped Amazon become a more competitive marketplace

  • Sellers need to understand where the slipstream is to be successful on Amazon

• How to launch a product in 90 days or less

  • What will determine which products are most in demand and have the highest sales velocity

[21:09 - 37:53] Making your Amazon product profitable

•The strategy for launching a new product varies depending on the niche

  • It involves transparency, following the customer into buying gold vein, and using data to overcome competition

• You don't want to sabotage yourself by continuing to sell a product that isn't profitable or selling it at a high cost

  • Moving a product that isn't profitable into a position that acquires more customers

• Why you need to focus on increasing profitability first and then expanding your customer base

• There is more opportunity now than ever before on Amazon

[37:54 - 43:45] Wrapping Up!

• What Voltage Digital Marketing does and its mission

• Neil on the rapid-fire questions

Connect with Neil:

Voltage Digital marketing (Website)

Neil Twa (LinkedIn)

Key Quotes:

"Brand building is the way you need to do Amazon." - Neil Twa

"Do not start a product launch on Amazon if it's not within a brand." - Neil Twa

"You have to be willing to do the work, to spend the money, and obviously understand how you're going to compete." - Neil Twa

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Is your offer differentiated enough relative to the competition? In this episode, Fernando Campos navigates into how to create a killer listing and to make sure you have a solid strategy when you launch your products. He remarks on the importance of paying attention to proper product development and how you should go about keyword research in your launch phase. Fernando discloses when it's the right time to let a product go and provides his outlook on the aggregated space long-term. Listen and enjoy!

Fernando is the co-founder of MarketplaceOps and specializes in scaling CPG brands on Amazon. MarketplaceOps leverages fully-integrated technology and proprietary marketing techniques to beat your competition with repeatable strategies. Fernando has generated more than $150MM in revenue for his clients and sold two businesses in the Amazon space. His companies were ranked in the Inc. 5000 in 2019 & 2020, and in Entrepreneur360 in 2016, 2017, 2018 & 2019

Key Highlights:

[00:01 - 07:05] How to Make a Killer Listing and Succeed on Amazon

• Fernando shares how he got into the eCommerce space

  • How he became the co-founder of MarketplaceOps
  • He has generated more than 150 million in revenue for his clients and sold two businesses in the Amazon space

• Make sure to have something differentiated and not rely on traditional marketing methods

  • Paying attention to keyword research and product development when launching a product on Amazon is essential

[07:06 - 20:34] How to Optimize Your Amazon Listing for Conversion

• What you need to be successful on Amazon these days

  • You should have your product development, advertising, and listing down "almost perfect."
  • Focus on building a strong brand and converting visitors into buyers

• The importance of differentiated and high-quality product offerings

• The process of identifying the most relevant keywords for a product launch

  • Target those keywords with the highest volume and highest relevancy

[20:35 - 34:34] Beat Out Your Competition

• What Fernando normally considers a launch phase of a product

• When is the right time to sell or not to sell a product

• How long it will take for a product to be profitable

  • You should consider factors such as whether a product is consumable or not

• Fernando's insights about the aggregator space

  • The Amazon brand is still valuable, and there is a market for selling them

[34:35 - 39:30] Wrapping Up!

• The Amazon business is an asset class and will continue to grow

• Fernando on the rapid-fire questions

Connect with Fernando:

Fernando Campos (LinkedIn)

Fernando Campos (Instagram)

MarketplaceOps (Website)

Key Quotes:

"You just have to have something differentiated. It doesn't have to be completely revolutionary." - Fernando Campos

"The first thing that's most important that I don't think gets talked about enough is just having a really highly differentiated offer." - Fernando Campos

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you know how to achieve category dominance on Amazon through premium SEO and PPC marketing? In this episode, Isaac Gross provides you with great advice on how to understand TACoS and ACoS, and product launches. He stresses the importance of having a long-term strategy when doing PPC, and why it is a key element for success. Isaac digs into the state of PPC in general and more importantly if Amazon is still a viable option for somebody to enter and make a lot of money. Listen and enjoy!

As a long-time Amazon seller, Isaac made it his mission to help others with their PPC. His deep understanding of the Amazon algorithm undoubtedly gives our clients an unfair advantage. Isaac is the Founder and CEO of IG PPC, a hands-on Amazon PPC agency for 7-9 figure brands that manages over $2B in annual sales on Amazon.

Key Highlights:

[00:01 - 07:25] Achieving Category Dominance

• How Isaac got started in Amazon selling, how he evolved his business

  • Issac's journey building IG PPC

•How to maximize the value of your Amazon or e-commerce business

  • Isaac shares great tips on PPC spending, product launches, and branding

[07:26 - 28:28] PPC is a Big Part of the Business

• PPC is a long-term investment, and it's important to have a vision for long-term growth

  • Why it's important to have somebody who is US based

• Make sure to stay up-to-date on new products and strategies, so you can continue to grow your business

• The difference between TACoS and ACoS and how they function

• Every new feature that Amazon rolls out impacts the PPC strategy

  • Sellers must have a goal for what they want their PPC to achieve

[28:29 - 49:18] How to Launch a Product That Will Succeed

• Why the price is one of the most important factors to consider when launching a product

• The main thing to remember when launching a product is to give a good price and then go aggressive on PPC

  • If the product does not convert well, it is a failed launch

• Isaac's insights about influencer marketing - pros & cons

• How to figure out why your sales are dropping

  • You should look at things like pricing, negative reviews, and competitor activity

[49:19 - 56:28] Wrapping Up!

• If somebody has the experience and knowledge, they can be a successful business on Amazon

• Isaac on the rapid-fire questions

Connect with Isaac:

IG PPC (Website)

Isaac Gross (LinkedIn)

Key Quotes:

"The ultimate goal is to make money, not sales." - Isaac Gross

"If you don't expect anything to change, then the conversion rate will never get better." - Isaac Gross

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Is your brand thriving, growing, and staying ahead of the competition? In this episode, Steven Pope dives deep into product development branding and how sellers could win on Amazon. He points out why Amazon is not a passive income anymore and how to look at PPC versus outside traffic. Steven breaks down why your customer avatar is essential to gain a competitive advantage in the market and how to survive when your Amazon products don't sell as expected. If you're selling on Amazon, this episode is definitely for you. Listen and enjoy!

Steven is the founder of My Amazon Guy, a marketing agency with 250+ brands managed. Steven started his career as a TV reporter in Idaho, then was an eCommerce Director for 10 years for brands ranging from Gold & Silver Coins to Women’s Plus Size Clothing. Steven then created My Amazon Guy, a 300+ employee agency that focuses on growing traffic and sales on Amazon. Steven not only owns MAG but also My Refund Guy, 2 Amazon Brands: Momstir & Age of Sage, and a Holster company HOLSTIT. Steven has more than 1000 tutorial videos on YouTube showing how to handle ANY problem faced on Amazon and has interviewed every major player in the Amazon space on his podcast.

Key Highlights:

[00:01 - 07:42] My Amazon Guy

• Steven introduces My Amazon Guy

  • A marketing agency that manages over 300 brands
  • Focusing on growing traffic and sales on Amazon

• The four pillars to marketing on Amazon

  • Traffic, conversion, SEO, and PPC

[07:43 - 27:32] How to Succeed on Amazon

• Make sure to increase your market share, and focus on keywords and rankings in the SEO phase

• The key to success on Amazon is understanding your customer avatar and building a brand around that

  • Think about who your target demographic is and what their needs are

• How testing and tweaking your product, content, and branding is essential for success on Amazon

  • The power of Amazon's Brand Story

• How to know when it's time to let go of a product

[27:33 - 46:48] What's Better for Sellers?

• There are simple ways to increase your ranking on Amazon

  • Why you should be changing your listing once a month

• How to survive when your Amazon product doesn't sell

• Steven's outlook on Amazon vs Walmart

  • Why sellers should not put all their efforts into Walmart

• How to keep your content fresh while running an agency

[46:49 - 53:00] Closing Segment

• Steven's business model at his Amazon guy

• Steven on the rapid-fire questions

Connect with Steven:

My Amazon Guy (LinkedIn)

My Amazon Guy (YouTube)

Key Quotes:

"Nobody sells products on Amazon, we all sell solutions and experiences." - Steven Pope

"You need sales to get sales." - Steven Pope

"If you want a cult brand, you need to push people away." - Steven Pope

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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What steps are you taking to sell on Amazon and leverage what you’ve created? If you want to sell the most, you have to be the best. In this episode, Tomer Rabinovich discloses his journey as an eCommerce entrepreneur and stresses where the Amazon space is going. He discusses how product development is not what it used to be, and how you should go about product development these days. Tomer shares his insights about the ecosystem of the aggregator space and why you should attend events in the Amazon community. Listen and enjoy!

Tomer Rabinovich is an Amazon seller who has created and launched multiple private-label brands. His first product went live in March 2015, and he became a seven-figure seller within his first year. A sought-after speaker, Tomer addressed thousands of people around the world. His audiences range from intimate mastermind groups to national and global conventions. Though he’s still an active online seller, Tomer’s real passion is helping other sellers and online retailers scale their businesses. He’s grateful for the life-changing opportunities he’s earned as an Amazon seller and enjoys nothing more than seeing other people fulfill their dreams by following a similar path.

Key Highlights:

[00:01 - 07:26] The Pro Seller's Guide

• Tomer shares how he got into the Amazon and e-Commerce space

  • Helping Amazon sellers transform their businesses and lives
  • Extending the opportunity of selling to anyone willing to do the work and make the dreams come true

• Tomer's insights about where Amazon and e-Commerce are going

• Check out Ride the Amazon Wave

[07:27 - 21:45] How to Develop Products That Sell Like Crazy

• The key to success is differentiation and barriers of entry in sourcing parts of the product development process

  • Starting with products that are very cheap or very expensive, and then going for more difficult or niche products

• Why branding should be built into products as they are launched

  • A brand needs both high-margin products and low-cost products to generate traffic and sales

• How cash flow is a major challenge for new and existing Amazon sellers

• Strategies to launch products for existing brands without spending a lot of money

[21:46- 35:55] How to Survive When Amazon Aggregators Fail

• Why sellers should consider selling and staying on board

  • Keeping sales and learning from the brand

• To be successful as an aggregator, you need to focus on acquiring potential rather than becoming a best seller on Amazon

• You should launch products to increase your net growth (profit) rather than focus on revenue growth

  • The benefits of having multiple products in your portfolio that are doing well
  • You need to launch multiple products that are different but targeted at the same people

[35:56 - 44:57] Wrapping Up!

• Vital steps for reaching the next level

• Tomer on the rapid-four questions

Connect with Tomer:

Top Dog (Website)

Tom Rabinovich (Facebook)

Key Quotes:

"When you are acquiring a business, you're actually acquiring potential." - Tomer Rabinovich

"The growth is the profit. It's not the revenue." - Tomer Rabinovich

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you ready to grow, scale, and expand your eCommerce business through partnerships? In this episode, Nick Penev delves into partnerships and why it's so important for service providers and businesses in general to have them in order to grow their sales. He stresses out how to look at partnerships and what are the first steps you should follow to make sure you find the right partners. Pay close attention to Nick's advice on how you can expand your business to Europe and everything that entails growing to other Amazon marketplaces. Listen and enjoy!

Nick Penev is the Partnership Manager and webinar host at Hello Tax and Co-Founder of Xtreme Power Brands. He and his partners developed and launched 20+ Private Label Supplement brands across Europe. Nick exited his brands in 2020 and since then he has rebranded XTREME POWER brands into a Partnership as a service agency for ecommerce service providers. He and his team help these companies to grow through partnerships in the ecommerce space. Nickhas done or participated in 100+ webinars and events with partners in the ecommerce space.

Key Highlights:

[00:01 - 07:30] The Power of Partnerships

• Nick shares his story of how he got into ecommerce and how partnerships helped him grow his business

  • The partnership manager and webinar host at Hello Tax and founder of Extreme Power Brands
  • Launching 20 plus private label supplement brands across Europe
  • Creating a service agency for e-commerce service providers

• Why partnerships are important for service providers or businesses in general

[07:31 - 22:00] Tips for Succeeding in Partnership

• Nick's experience selling to multiple markets and connecting service providers with his company

  • How Nick started working with other companies in the industry to help them grow their partnerships and services

• How successful partnerships involve taking small steps to build a relationship

• It's important not to make assumptions about what the other party can or cannot do

  • Be willing to do something for the other party, and not just take advantage of them

• Nick's advice on how to grow a company in the eCommerce space, and how partnerships can be an important part of this growth

[22:01 - 37:01] How to Expand Your Business

• The key points for starting and expanding a business in the Amazon and e-commerce aggregated space

  • Partnering, testing, and evaluating potential partnerships

• Nick's outlook on the opportunities in the Amazon and e-commerce aggregated space

• Expansion into other countries can be difficult, but there are services available to make the process easier

• What you should do if you're looking to expand your business to Europe

  • Do the research, test small, and then expand

[37:02 - 44:52] Closing Segment

• Never make assumptions, do the research

• Nick on the rapid-fire questions

Connect with Nick:

Nick Penev (LinkedIn)

Xtreme Power Brands (Website)

Hello Tax (Website)

Key Quotes:

"You only work from your mistakes, you don't work from actually all the wins that you do." - Nick Penev

"Partnerships is about giving first and then getting big." - Nick Penev

"Don't tell me what we can do with money, tell me what we can do without money." - Nick Penev

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you clear about your business profits? In this episode, Nachman Leiser shares how he started his career and how he ended up building his eCommerce bookkeeping and accounting firm. He explains the importance of not only having software that connects your Amazon account but really looking at the data. Nachman remarks on what are the key metrics you have to look at to make sure that you have the proper profit margins. Pay close attention to how he has been able to juggle multiple businesses and grow his new SaaS business. Listen and enjoy!

Nachman Leiser is the CEO and founder of Connectbooks and Bottom Line Management. For over 10 years, he’s been an entrepreneur, financial analyst, and profit game changer - usually all 3 at once. After working as CFO in several businesses, growing their revenue by double-digit percentages and more, he founded his own eCommerce bookkeeping & accounting firm that specializes in uncovering ways to reduce cost, eliminate losses, and scale profits. He helped online sellers in the red become profitable within a year and exceed the million-dollar mark in net profits.

Key Highlights:

[00:01 - 07:15] Benefit from Hiring a Bookkeeping Company

• Nachman shares his background in the eCommerce space

  • The CEO and founder of ConnectBooks
  • Reconcile every transaction with banks statements
  • See itemized and bottom line profit and inventory updates as they happen

• The importance of having software that connects your Amazon account and data-driven strategies to improve profits

[07:16 - 32:42] The Software You Need to Keep Your Amazon Business Running Smoothly

• You should determine your break-even point and calculate your profit margins and overhead costs

• It is important to have realistic expectations and be willing to pivot to keep their business afloat

  • Put together financial information

•Why Nachman decided to split the company into different businesses

  • When you focus on one industry, it's easier to scale the business

• How Nachman realized there was a need for a good bookkeeping software

[32:43 - 52:12] How to Automate Your Accounting and Selling in QuickBooks

• How to hire the right people for your business

  • Make sure they fit the company culture

• Why understanding the inventory value and profits can be difficult

• Connect books offers data visualization that breaks down profitability by skew and variation

  • Understanding where products are losing money
  • Automating accounting and tracking of product sales

• Before taking any action, it is essential to understand the P&L (profit and loss) of a company

[52:13 - 57:25] Wrapping Up!

• Why Shopify is different than Walmart

  • More customization and control over how orders are processed

• Nachman on the four rapid questions

Connect with Nachman:

Nachman Lieser (LinkedIn)

ConnectBooks (Website)

Key Quotes:

"If you work really hard, nonstop, at some point you'll get there." - Nachman Lieser

"Make sure whatever you're doing, you're doing it a hundred percent completion and then you move onto the next project." - Nachman Lieser

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you know how to set your e-commerce or Amazon brand up and maximize your results? In this episode, Danny McMillan shares his insights about where the Amazon marketplace is heading to and why sellers should test different pricing strategies and be mindful of their total cost to sales. He also discusses the concept of PPC and how to make sure you're making money and dividing your launch stages. Danny stresses why you should make sure to have a proper ratio between PPC and organic sales as you're managing your products. He digs into the current state of aggregators, why they pause, and what's next. Listen and enjoy!

Danny is the host of Seller Sessions, the largest podcast for advanced Amazon sellers. World-renowned public speaker Danny is also the co-founder of DATAbrill. Working alongside respected algorithm expert Dr. Ellis Whitehead, DATAbrill manages PPC and advertising automation for 7 and 8-figure Amazon brands. He also runs the annual conference Seller Sessions Live, Branded By Women, and SellerPoll; the annual awards for the Amazon FBA Community.

Key Highlights:

[00:01 - 07:09] The Sellers Sessions

• Danny shares his experience as a seller, speaker, and podcast host in the Amazon space.

• The concept of aggregators and how they've affected the community

• How to create a successful Amazon business

  • Why you should focus on data management, content creation, and networking

[07:10 - 20:35] How to Succeed on Amazon Marketplace

• If you want to be successful on Amazon, you need to be very sophisticated and targeted in your marketing

  • You need to focus on creating high-quality products that people will want to buy and price them affordably

• Why there are more barriers to entry now than ever before

• The sophistication of Amazon has increased, making it harder for new sellers

  • It is important to have a product development strategy and product expansion strategy

• Product differentiation is key to success on Amazon as is building a strong brand.

[20:36 - 34:05] There is Still Room for Growth

• The aggregated space has brought a lot of new sellers and entrepreneurs into the market

• The key to success in the aggregated space

  • Timing, market knowledge, and having a good product

• Aggregators are cleaning up their act to stay afloat and have s healthier business

  • Managing brands and maintaining customer relationships.

• Finding the "happy medium" between PPC and organic traffic is important to maximize profits.

[34:06 - 47:41] Wrapping Up!

• What's the most important of product launches

• Make sure to attend events that are relevant to your business

• Danny on the four rapid questions

Connect with Danny:

Seller Sessions (Website)

Data Brill (Website)

Danny McMillan (LinkedIn)

Key Quotes:

"Time is money and what you need is a snapshot of information and apply that to your business." - Danny McMillan

"Your best learnings come through pain." - Danny McMillan

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you an Amazon seller that is looking to improve your product listings and brand awareness? In this episode, the CEO of House of AMZ discloses the best way to launch a product and what you should consider to build a brand that is successful in the marketplace. He stresses how to utilize your A+ content and storefront in order to get the most ranking for your listings. Mark offers great advice on how to keep people's attention through great SEO and optimize your listing for better search engine rankings. Whether you are new to the game or an established seller, this episode is for you. Listen and enjoy!

Mark’s personal background is marketing and branding having brands of his own and along with his Amazon knowledge working under the 9-figure brand. Combining those together is how House of AMZ was born. Where Mark can help to optimize your products and brand not only for the outside world but mainly on Amazon which is its own ecosystem in itself.

Key Highlights:

[00:01 - 06:55] The Importance of Branding When Selling Amazon Products

• How Mark got involved in the Amazon space

  • His passion for marketing and branding
  • Learning the new ecosystem of Amazon

• The importance of building a brand vs building products

• Mark's outlook on where the marketplace is going

[06:56 - 19:52] Branding Your Product to Stand Out

• How packaging can make a big difference

• It's important to launch the product the right way

  • Having good graphics and a strong foundation

• You should have a conceptual development of the brand, as well as visual components

• Why outside traffic is the number one thing to focus on when launching products on Amazon

[19:53 - 32:37] How to Rank Higher on Amazon

• Why having a good SEO component in your product's listing is crucial

  • It gives you more real estate space on the page
  • It increases the chances of selling your product

• How to rank higher on Amazon for your product

  • Focus on keywords that are relevant to your brand

• You need to focus on branding and creating a good reputation for your business before focusing on selling products

[32:38 - 35:04] Wrapping Up!

• Be aware of Amazon's algorithm and make sure your branding is consistent across all channels

• Mark on the rapid four questions

Connect with Mark:

House of AMZ (Website)

Mark Casey (LinkedIn)

Key Quotes:

"The algorithm is very important, but building a brand is what's gonna help you in the long term and overall for your brand itself." - Mark Casey

"If you're starting at a very weak foundation, there are a lot more questions you're gonna be having to ask yourself, and you're just gonna be wasting more time." - Mark Casey

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you struggling to systemize and scale your eCommerce business? In this episode, Yoni Kozminski digs into the importance of processes and systems in a business's development and when it's the right time to start preparing them. He explains why processes are a key element for every business, but specifically an e-commerce or Amazon business that potentially you want to sell. Pay close attention to Yoni's insights about the aggregator space and how you could still take advantage if you're building your business properly. Listen and enjoy!

Yoni has spent a decade in digital marketing & creative advertising globally including places like Australia (origin), Los Angeles, and Tel Aviv developing digital strategies for the likes of Mercedez- Benz, Mastercard, Sony, Medtronic, and many 8-figure eCommerce brands. In 2018 Yoni expanded an eCommerce/Amazon business from $2 million to $5 million in 12 months that was sold in 2019. A key driver was the ability to build a fluid process, as well as a team of incredibly talented individuals in the Philippines. Since January 2020, MultiplyMii & Escala have grown from a team of 4 to over 300+ people on payroll supporting more than 100+ businesses that are responsible for more than 750M+ in annual revenue.

Key Highlights:

[00:01 - 07:16] Building an Amazon or E-Commerce Business

• Yoni shares his background in digital marketing and the eCommerce space

  • How he has helped hundreds of brands flourish
  • Why his experience with Amazon and eCommerce brands has been key to his success.

• How Yoni expanded an eCommerce Amazon business from 2 million to 5 million in 12 months

  • The ability to build a flow process as well as a team of incredibly talented individuals

[07:17 - 27:57] How to Systemize and Scale a Business

• How to build a process that makes sense for your business

• The importance of documenting the process of running a business

  • It helps to ensure that everyone involved is clear on what needs to be done

• Why systems and processes in a business are a key element

  • They help to protect the business from competitors and ensure that products are of high quality

• It is essential to have a healthy mix of both systems and people to create a successful business

[27:58 - 40:37] Amazon's Aggregators Are Pausing Or Not Buying

• Yoni's outlook on how Apple has a very focused goal of creating the best products and experience

• Why Amazon's aggregated space has seen a rush of activity in the past few years

• Yoni introduces South Cal and how they can help you grow your business and exit

  • It provides capital, guidance, and resources on your climb to the summit

• The key criteria that South Cal is looking for

  • 2-3 million revenue business
  • The business needs to show a year-on-year growth

[40:38 - 42:56] Wrapping Up!

• Yoni in the four rapid questions

• Check out Successful Scales

Connect with Yoni:

Yoni Kozminski (LinkedIn)

MultiplyMii (Website)

We Are Escala (Website)

Key Quotes:

"The most valuable thing you can do is both build that audience and then continue to launch new products that appeal to the brand that you're trying to create." - Yoni Kozminski

"Documenting the process really helps bring clarity to everyone involved in the business." - Yoni Kozminski

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you want to maximize the value and potential of your brand, but you don't know how? In this episode, Chris Shipferling discusses what's happening in the market right now with the aggregated space and how the investment banking space is looking at brands. He delves into what makes a great brand and provides great advice on what you should focus on if you're starting to build a brand and looking to sell it down the road. Listen and enjoy!

Chris Shipferling is a Managing Partner at Global Wired Advisors, a leading Digital Investment Bank that specializes in the optimization of the business sale process. Before working at Global Wired Advisors, Chris was the Owner of Robert & Pearl, the Executive General Manager for North & South America at Jané Group, and the Senior Director of Sales at Evenflo. Through his work at Global Wired Advisors, Chris offers expert advice to Amazon and e-commerce entrepreneurs searching to maximize their potential before, during, and after their big exit.

Key Highlights:

[00:01 - 07:29] How to Maximize the Value of Your Amazon or E-Commerce Brand

• How Chris got into the eCommerce space

  • His experience in branding and marketing and product innovation
  • Working as managing partner at Global Wired Advisors
  • The optimization of the business sales process

• How to maximize the potential of your business before, during, and after the big exit

[07:30 - 21:55] The Trending E-Commerce Growth

• The reasons why financial institutions invested in FBA businesses, and how this trend continues today

  • Why debt coming into FBA businesses made it easier for people to invest

• The market for Amazon businesses has been disrupted with multiples depressed and it taking longer to sell

• Why the eCommerce market is becoming more selective

  • Fewer buyers are available and those that are buying are seeking stronger brands and products

[21:56 - 36:18] How to Sell Your eCommerce Business

• Sellers need to understand their CPG brand and what that really means

  • Developing a product within a category that differentiates oneself from competitors is key

•The importance of branding, marketing, and diversification for Amazon sellers

• Sellers need to think about their company from a product perspective and divorce themselves from profit margins

  • Sellers should focus on where they are selling their product, and innovate to keep the brand strong

[36:19 - 43:03] Wrapping Up!

• You need to have a strong brand, good product, and a well-developed financial plan

• Chris on the four rapid questions

Connect with Chris:

Chris Shipferling (LinkedIn)

Global Wired Advisors (Website)

Key Quotes:

"Good assets always sell no matter the market conditions unless we're in a great depression." - Chris Shipferling

"You cannot see the potential out of a product's profit. you just can't do it, you gotta have a brand." - Chris Shipferling

Visit Let’s Talk Exits and drop your questions and comments at https://letsat talkeat xits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you ready to change the way you scale and grow your eCommerce business? In this episode, Erik Davidek touches on the importance of building a proper brand and the different brands he saw while being at Heyday. He breaks down what stood out as a great brand from the others and why it is crucial to support brands with cash flow opportunities to help them grow, buy inventory, and expand new products in different marketplaces. Listen and enjoy!

Erik heads aggregator partnerships for SellersFunding, an eCommerce lending platform. His role focuses on creating non-dilutive working capital solutions and referral and marketing partnerships. Before joining SellersFunding, Erik was the 16th employee at Heyday, a top-5 funded aggregator. He sourced M&A opportunities and worked directly with hundreds of entrepreneurs to prepare their brands for acquisition. Prior to this, Erik's career followed non-traditional paths. He was an Editor at the world's largest automotive magazine, taught high school social studies, was a marketing consultant in Europe, and spent a decade leading sales teams for manufacturing, commodities, and SaaS companies. Erik works remotely from beautiful Northern Michigan.

Key Highlights:

[00:01 - 08:05] The Importance of Building a Proper Brand

•The key to building a successful Amazon or e-commerce brand

  • Focus on creating a strong brand and developing unique products that appeal to consumers

• Why building a proper brand is crucial, and how it can be key to achieving an optimal exit

• The importance of having access to funding to help businesses grow and expand

[08:06 - 23:42] The e-Commerce Space

• How to survive the next round of eCommerce growth

• Erik's key drivers for businesses in the e-commerce space

  • Focus on finance, cost control, and operational excellence

• Why the money coming is no longer sustainable and has caused many aggregators to pull back or go out of business

• Specialization and building a real brand are becoming more important in the Amazon eCommerce aggregated space

  • The aggregated space is growing, with more operators and smaller buyers entering the market

[23:43- 46:16] How to Focus on Brand Performance

• How sellers can get insights into their businesses through seller signals

  • Get an outlook on what's working and what's not in the market, and how to improve their business.

• Erik introduces Seller Funding and what it does

  • It offers several solutions to help sellers grow their businesses
  • Revenue advances, daily advances, digital wallets, and aggregator pausing

• The market is slowing down, but there are still opportunities for sellers to make money

[46:17 - 48:51] Wrapping Up!

• Erik on the four rapid questions

Connect with Erik:

Erik Davidek (LinkedIn)

SellersFunding (Website)

Key Quotes:

"Don't think you have to have every product ready to go, but what's that next little step that I can take that gives me a little more security, a little more defense ability around what I'm doing." - Erik Davidek

"Niches build bridges." -Erik Davidek

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you know how to effectively and profitably advertise on Amazon marketplaces? In this week's episode, Brent Zahradnik delves into PPC strategies and what is the status of PPC in 2022. He breaks down the difference between how to look at new product launches versus ongoing maintaining products with PPC, and remarks on the importance of storefronts and brand build-out across the whole marketplace. Pay close attention to Brent's answer about the opportunity for people who want to start their journey in selling on Amazon. Listen and enjoy!

Brent Zahradnik is the founder of AMZ Pathfinder. He started the company in the summer of 2015 and since then has worked with 100s of brands on the Amazon marketplace. Pathfinder manages millions of dollars in ad spend per month and is composed of nearly 30 advertising experts who speak 11 languages between them and work with the North American and European marketplaces. Brent lives in Southern France with his girlfriend, their cat, and entirely too many bicycles.

Key Highlights:

[00:01 - 07:08] The End of the Amazon Advertising Golden Era

• How Brent ended up in the eCommerce ecosystem

  • His experience with Google Ads
  • Growing an agency and working primarily with the American and European markets

• Brent discloses the state of PPC in 2022

  • The golden era of Amazon advertising is officially over

[07:09 - 27:49] How Much Should You Be Spending?

• The reason why Amazon advertising is no longer as effective as it once was

  • The average cost per click is high and profit margins are low

• If a business is doing well organically, it should be focusing less on PPC and more on other acquisition channels

• You need to keep up with new tricks and techniques to stay ahead of the competition

  • Make sure you have enough inventory for a successful launch

• How to increase your Amazon seller's share of voice

[27:50 - 47:34] Amazon Advertising: What to Expect

• How to budget for a launch and determine what keywords to target

• Why social media platforms like TikTok and Pinterest have a great implication for Amazon sellers

• Brent shares how the company helps Amazon-related keywords rank in the Amazon ecosystem while making a little bit of money

  • Sending customers to Amazon storefronts rather than Google product detail pages

• How to create a culture that contributes across team members

  • Have core values that everyone understands and infuse them into everyday operations
  • Team meetings to keep everyone aligned and motivated

[47:35 - 51:36] Closing Segment

• Brent on the four rapid-fire questions

Connect with Brent:

Brent.Bike (Website)

Key Quotes:

"Advertising has matured on Amazon. It's not the golden era anymore, and essentially you need to have other complimentary services to make the impact of advertising greater than what it is." - Brent Zahradnik

"Culture is what happens when the chips are down." - Brent Zahradnik

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you seeking to expand your Amazon business into global markets? In this episode, Rael Lowenthal, the Director of Business Development at Zee, delves into marketplace expansion to other countries, and how Zee makes it easy for actual sellers to expand their eCommerce business to have a great return on investment and return on time. He also breaks down how to do proper research and understand if your product is successful in the existing marketplace and if there is a demand on other ones. Rael discloses where Amazon is going and why it's important for sellers to focus on expansion if they want to maximize the value of their business. Listen and enjoy!

Rael Lowenthal is a Chartered Accountant and former investment banker. He is the Director of Business Development at Zee, mainly responsible for new client acquisitions and existing client relationship management. Aside from assisting e-commerce businesses to expand their global reach, he is passionate about African wildlife conservation, financial systems powered by blockchain technology, and reading. Zee offers a complete door-to-door import solution into Amazon warehouses, including IOR, logistics, and compliance. Use Zee to outsource the hard grind of getting your goods into new countries.

Key Highlights:

[00:01 - 07:29] Solutions for Amazon Sellers Seeking to Expand Globally

• Rael shares his experience with eCommerce and how he ended up on Zee

  • Zee makes it easy for sellers to expand their businesses globally
  • His passion for African wildlife financial systems

• Why sellers should think about expanding their businesses into other countries

[07:30 - 21:16] Importing your Amazon Products into New Markets

• Zee's core services

  • Product compliance services
  • An importer of record service
  • Logistic solution

• How Zee facilitates the imports

  • Having offices in all of the major eCommerce marketplaces

• Why sellers should start with minimum quantity in multiple markets

• Simplify the importing process for our clients

[21:17 - 34:34] How to Maximize Your Margins on Amazon

• Why Rael recommends sellers to use SmartScout

• You need to do product research and understand the demand for a specific product before choosing a marketplace

• Why sellers should sell globally

• The benefits of selling internationally for sellers

  • Increasing sales and diversifying risk
  • Transferring reviews and rankings to other markets

[34:35 - 37:40] Closing Segment

• Zee's offer for the Let's Exits Podcast listeners

• Rael on the four rapid-fire questions

Connect with Rael:

Zee IOR eCommerce(LinkedIn)

@zeeior(Instagram)

@IORZee (Facebook)

Website: https://zee.co/?utm_ref=OK9Y4GIZ821I5

Key Quotes:

"The offering that we bring to the market is to enable the global expansion of any eCommerce business." - Rael Lowenthal

"If you have the right partner who knows what those hurdles are and how to get around them, it can save you a lot of time." - Rael Lowenthal

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Still trying to figure out the best tool to understand the marketplace and find out opportunities for wholesale and private level? In this episode, the founder and Ceo of SmartScout, Scott Needham shares his outlook on the importance of branding and creating a larger presence for your products within the Amazon ecosystem. He delves into the SmartScout tool, and why he decided to build the software the way he built it. Scott also breaks down why the way the information is laid on SmartScout is the right way to look at how to expand your brand in the long-term and short term. If you love technology and data, this episode is for you. Listen and enjoy!

Scott is the Founder of SmartScout and BuyBoxer. He is the host of the Smartest Amazon Seller Podcast and an Amazon seller for 10 years who has scaled wholesale and private labels. Scott has accumulated a deep knowledge about selling products online, and his company BuyBoxer has done over $300m in sales.

Key Highlights:

[00:01 - 08:16] The Importance of Branding and Building a Large E-Commerce Business

• Scott's experience building and selling Amazon brands

  • The founder and CEO of SmartScout
  • His experience as a wholesale and private label Amazon seller

• What SmartScout does and how it works

  • A software tool designed to help Amazon sellers identify and analyze potential brands for sale

• Why it is important to brand and build a larger brand for Amazon sellers

[08:17 - 16:05] The Most Useful Tool for Amazon Sellers

• How the tools in the SmartScout suite can be used to research products and brands

  • Optimizing products for FBA

• The main benefits sellers can have by using SmartScout tools

  • It can help you stay within your zone and focus on what is important
  • It helps you to do a deep dive on your competitors
  • Understand how your competitors built their business and find areas where you can improve

[16:06 - 24:10] How to Successfully Sell on Amazon

• It is important for sellers to be using tools regularly

• What you should do if you're the sole entrepreneur behind your product

  • Check Amazon fees and see if there is anything you can do to improve sales

• Sellers should always be keeping an eye on their data

  • Amazon has started introducing new reports such as search term query analytics

[24:11 - 32:02] The Tool That Can Change Your Life

• Scott shares his insights about Walmart

• Why diversification may not be the best use of time

  • Seller's focus should be on channels with high ROI and OT returns

• One of the strategies sellers have used to succeed with Walmart

• SmartScout can be used to identify trends in a channel and find opportunities to sell to customers

[32:03 - 33:30] Closing Segment

• Scott's Tips for Becoming an Amazon and E-Commerce Expert

• Scott on the four rapid-fire questions

• Book a strategy session, drop your questions and comments on https://letstalkexits.com

Connect with Scott:

@smartestseller (Instagram)

@itsScottNeedham (Twitter)

Website:

https://www.smartscout.com/

Key Quotes:

"Implementing technology should be a concerted effort on its own." - Scott Needham

"The more Amazon gives out the more, we can build tools and actually have an improved accuracy." - Scott Needham

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you know what it takes to succeed in eCommerce, get unstuck, take control, and scale up? In this week's episode, Ben Leonard, the Ecom Broker's brand ambassador, discusses the grind and the hustle that he had with building his first brand and why he decided to sell it. He also shares what he learned from that process to build his new brand. Pay close attention to the suggestions he has for sellers to make sure they're maximizing the potential of their business. Listen and enjoy!

Best known as the founder of Beast Gear, Ben Leonard is the classic millennial entrepreneur. He built a business on a laptop, in a cupboard, in his spare time. The difference? Ben grew an international 7-figure business and successfully exited after 3 years; the business holy grail. Ben is Ecom Broker’s brand ambassador and digital marketer. He is busy building the network, creating relationships, and banging the drum! In addition to Ecom Brokers, Ben is busy building brands and helping others follow in his footsteps with his consultancy, courses, and mentorship program.

Key Highlights:

[00:01 - 06:53] How an Ecologist Built an E-Commerce Empire

•Ben shares his background and work

  • Ben's journey into eCommerce and how he built his first brand
  • Building a fitness brand and transitioning to selling on Amazon

• How to maximize the value of their businesses and achieve an optimal exit

[06:54 - 20:01] Selling an E-commerce Business: A Step-by-Step Guide

•Why selling the business was the right decision for Ben and his family

•The challenges of starting and selling an eCommerce business

  • Cash flow management and product quality

• Why working with an intermediary makes a difference

  • Growing the business by applying skills such as relationship building and product quality.

• How Ben became passionate about eCommerce and decided to build a legitimate brand

[20:02 - 33:45] How to Sell Your E-Commerce Business When the Markets Are Maturing

• The high barrier to entry for starting an eCommerce business is becoming increasingly important

• One way to protect your brand and increase its value

  • Have intellectual property rights in place

• What sellers should look at to decide whether or not to sell

  • Understand the data and its current value

• The importance of focusing on mitigating risk for buyers when selling

  • Buyers want to buy a business with a low-risk profile

[33:46 - 37:13] Closing Segment

• Why selling on selling on Amazon and eCommerce is important

• Ben on the four rapid-fire questions

• Book a strategy session, drop your questions and comments on https://letstalkexits.com

Want to connect with Ben? You can follow him on LinkedIn.Head to Ben Leonard, and smash your eCommerce goals!

Visit Ecom Brokers, and sell your business for the best possible price.

Key Quotes:

"If you don't get product quality right, it ain't gonna fly." - Ben Leonard

"One of the main things that I apply to, anything I do in business is relationship building and win-wins." - Ben Leonard

"If I'm not an expert at something I'm gonna work with someone who is." - Ben Leonard

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Are you taking advantage of the most innovative resources available to Amazon sellers? In this episode, the co-founder of Seller.Tools, talks about his first exit and how he came up with the idea of creating seller.tools. He also touches on how you can find a strategic buyer and what other sellers look at when they're looking to exit. Troy delves into the whole concept of tools for Amazon sellers, how to use them, how to not use them, and what to look out for when you see tools. Pay close attention to Troy's answer about the number one mistake sellers do when they're looking at tools for Amazon. Listen and enjoy!

Troy Johnston is the Co-Founder of Seller.Tools and M&A Advisor at Carbon6. He brings a wealth of on-channel Amazon and e-commerce knowledge as a 7-figure Amazon earner with 2 successful exits. Today Troy focuses on leading strategic M&A in the Amazon SaaS space with the disruptive SaaS aggregator Carbon6.

[00:01 - 07:43] Amazon and E-Commerce Brand Builders

• Troy's experience being the co-founder of seller.tools and M&A Advisor at Carbon6

  • How he brings a wealth of Amazon and e-commerce knowledge as a seven-figure Amazon seller
  • His exit and how he found his strategic buyer
  • Why a seller's exit strategy shines through in strategic buyer search

• Why it is a good time to go to market and entertain the acquisition of a brand

[07:44 - 25:41] The Software Is An Investment Sellers Should Be Willing to Make

• SAS tools help Amazon sellers stay ahead of the competition

  • SAS has been constantly evolving to address the challenges of sellers in the Amazon ecosystem
  • API integration is key for SAS because it allows sellers to access Amazon's vast data set

• What makes it difficult for tools to provide reliable insights

  • There is a lot of uncertainty and volatility when it comes to Amazon data

• Software becomes obsolete quickly in the Amazon ecosystem, so SAS should be careful when adding new features or automation

[25:42 - 43:39] How to Automate Your Amazon Seller Tools to Maximize Results

• The reason why sellers should use automation

  • It keeps key areas of their business running smoothly, while also focusing on ranking in Amazon reviews
  • Automations can help sellers take care of important data points without having to spend time manually checking them

• The challenge for brands is that Amazon is releasing so much first-party data that it can be difficult to make informed decisions with it.

• Sellers should focus on fewer reports and take action on the most important ones

[43:40 - 49:05] Closing Segment

• Troy on the four rapid-fire questions

• Book a strategy session, drop your questions and comments on https://letstalkexits.com

Want to connect with Troy

Website: https://seller.tools/

https://www.carbon6.io/

Troy Johnston (LinkedIn, Facebook)

Key Quotes:

"If you can add in those automations and add some predictability to your business, that is an investment you should be willing to make." - Troy Johnston

"If I can quantify what type of costs, human error, human delays, any of those elements that I can mitigate through software, I'll take that software investment any day of the week." - Troy Johnston

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts

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Do you want to launch products with remarkable results on all eCommerce platforms? In this episode, Andrew Morgans, a thought leader in the Amazon Branding space delves into his passion for branding done right for Amazon sellers. He also touches on what are the micro-steps you could do to enhance your branding if you're an Amazon seller. Andrew breaks down relevant tips of what you should consider when doing a listing and what it can do for your conversation rates. Tune in and learn the importance of branding and the micro and macro steps of a proper branding strategy. Listen and enjoy!

Andrew is a resident mentor at UMKC's Regnier Institute for Entrepreneurship and Innovation, and guest lectures at the Henry W. Bloch School of Management. Andrew found early success as an internal corporate e-commerce manager. In less than a year he launched and scaled corporate brands new to Amazon topping over $1 million in new sales, and repeated this more than once with several different businesses. With this success, he launched both the Landlocked Co Apparel brand and Marknology™, an Amazon Brand Accelerator. Marknology™ has worked with over 200 global brands and sales of over $200 million.

[00:01 - 09:10] Thinking Like the Brand

  • Andrew’s background and work
    • His 11 years of experience in the Amazon space
    • Being an eCommerce manager
      • Discovering the internal challenges that brands are having
  • Where the Marknology™ name comes from
  • Branding and Marketing on the eCommerce channels

[09:11 - 29:56] Knowing the Rules to Play the Game the Best Way

  • How Andrew describes the opportunity of eCommerce
  • What branding really means
    • It evokes emotion and specifically gets customers to trust the company
  • Andrew’s outlook on good branding vs bad branding on Amazon
  • The difference between demand generation vs demand capture
    • Know your skills as a marketer
      • Check who's the person working on the project to see if it’s a fit

[29:57 - 48:14] You Can't Brand Yourself Overnight

  • What makes an FBA seller different from an agency
  • You have to play a long game to build a brand that people know and trust
    • The only thing that can really create a brand is consistency over time

  • I want my reputation to remain intact

  • Andrew’s advice on how to reevaluate where people are with branding

    • Look at your competition, products, and listings
  • How to build a strong culture within your company

[48:15 - 52:22] Closing Segment

  • Andrew on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“I want to sell by creating something that will last a long time and that has a good reputation.” - Andrew Morgans

“I think anyone building a business where people rely on that business, being short-sighted could be the difference in making it or not.” - Andrew Morgans

Connect with Andrew

Website: https://www.marknology.com/

Marknology(LinkedIn)

Andre Morgans(LinkedIn, Instagram)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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Would you like to discover how to build, buy and scale consumer brands globally? In this week’s episode, our guest, Malte Karstan gives a closer look at the background of BBG (Berlin Brands Group), and how they were able to maximize the potential outset of the Amazon platform on their own websites, and other marketplaces in Europe and internationally. He also touches on what happens post-acquisition with the brands they buy, and who is responsible to see the growth of those brands long-term. Listen and enjoy!

After his first sales experience on eBay in 1998, Malte became quickly fascinated by the market-places Amazon and Alando. On the direct path to becoming an eBay platinum power seller, his business grew rapidly nationally, but internationalization and expansion were particularly appealing to him. Represented on platforms and marketplaces in over 60 countries, his products reached customers in 170 countries around the world. In 2018 he sold his companies and since then is part of BBG.

[00:01 - 10:39] Always Give and Take

  • How Malte got connected to eCommerce
    • His experience with the music industry
    • Working with big companies based in Japan and New York
      • Engaging with the BBG
  • Malte’s outlook on doing eCommerce is a new way
  • Why he decided to add already established brands

[10:40 - 29:53] Building Your Own Brands

  • What you need to envision brands and scale them
    • How BBG has become one of the biggest players in the marketplaces
  • The common theme across the different brands that were the early adopters of BBG
    • Democratizing the market and finding creative alternatives
      • Creating things that are affordable for a wide range of people
      • Quality should reflect a higher level than expected
  • What sets BBG apart in the marketplace

[29:54 - 50:37] Let’s Optimize!

  • Malte’s insights about where eCommerce is going
  • What foresight BBG has for a brand post-purchase
    • Do the roll out into the new territories where the brand is not existing
    • The logistics side of product management
      • International rollout
  • Why the role of brand managers is key for your brand
  • How Malte feels to be part of the process of making millionaires
    • You have to look for a win-win situation

[50:38 - 55:10] Closing Segment

  • Malte on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“It's all about trust, and it's all about expecting things reading things and science earlier.” - Malte Karstan

“There are some problems on the road all the time, and you cannot l avoid everything and always shine bright. It's not possible. But if they're substantially something, then you will succeed long tail. ” - Malte Karstan

Connect with Malte

Website: https://www.berlin-brands-group.com/en

BBG (LinkedIn)

Malte Karstan (LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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This week on the show, Carla Cole Valentine joins us to talk about the negotiation and due diligence process for selling an Amazon or eCommerce brand. She breaks down the process into different timeframes, including 30 days, 90 days, and 3 years. Carla Coll Valenti is Senior Strategic Integration Manager at SellerX . Carla’s background is in consulting and law, having obtained Masters’ Degrees in both of these disciplines. Before joining SellerX, she spent four years at the Boston Consulting Group in her native Barcelona. There, she worked across different sectors to improve operations and profit margins for multiple global businesses and brands. Since she joined SellerX she has integrated over 10 businesses focusing on their growth and works on creating and improving current processes. Her passion lies in growing businesses, traveling in emerging markets and volunteering.

[00:02 - 04:32] How Carla Cole Valentine Helped Hundreds of Amazon and Ecommerce Brands Succeed

• Carla shares her story and insights on the negotiation process and due diligence process

  • Be in the know of what happens after a business is sold
  • A passion in growing businesses and finding enjoyment in traveling through markets

[04:33 - 15:10] How to Exit a Successful eCommerce Business in the Last Six Months

•The Ecommerce Market is Booming

• The main focus for sellers should be growing their business and increasing top-line and margin

• Seller X is looking to acquire companies that satisfy specific criteria, such as products that have been selling for three to five years and will continue to do so in the next three to five years.

• How to Sell a Business When It's Not Picture Perfect

[15:11 - 19:42] How to Sell a Brand: Questions to Ask from the Buyer

• When selling a brand, it is important to have a multiple that applies to good margins and good growth and good revenues.

• The maximum of it doesn't mean only an upfront. It's also stability, payment or an earnest that you'll get later on in time working with the company for some time after you actually sold it with us.

• When sellers are initiating this process, they should be asking questions about the buyer's plans for the brand, their team and the money they will make.

[19:43 - 24:18] 3 Reasons Why Amazon Won't Acquire Your Business

• Compliance is key when selling on Amazon

• Due diligence is important to ensure the product is compliant and the brand is growing

• Selling your business can be a stressful decision, but don't worry, you're not alone.

[24:18 - 32:25] Sellers Listen to This Episode to Prepare for Post-Acquisition Integration

• Sellers should be fair when playing with Amazon to avoid suspensions.

• A goal after acquisition is to integrate the brand and get it up and running as soon as possible

• 90 Days to Grow Top Line: Making Sure Integration is Done Well

  • Focus on three main areas: integration, launchpad plan, and operations.
  • The priority for growth in the first 90 days is to make sure that the brand is performing well.

[32:26 - 37:35] Sellers Listening to Insider Information

• There are a variety of aggregators in the space, each with their own specialization.

• It is still possible for someone to enter the space and sell within 24 months.

• The author enjoys working with a team and seeing the businesses grow.

[43:05 - 45:14] How to Sell on Amazon and Ecommerce

• Carla on the four rapid-fire questions

• Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

"Be fair when you're playing with Amazon. Okay. Be fair." - Carla Coll Valenti

"Complexity differs a lot among geographic marketplace and product expansion." - Carla Coll Valenti

Connect with Carla

Website https://sellerx.com/

Seller X (LinkedIn)

Carla Coll Valenti (LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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Are you looking for an effective way to maximize and optimize your listings on Amazon? In this week’s episode, the CEO of Marketplace Blueprint, Robyn Johnson shares the meaning of successful optimization on Amazon and how you can take action when your listing goes down in ranking. She also discloses how to go about product development and what's changed in selling on Amazon in the last couple of years. Pay close attention to Robyn’s insights about the opportunities Amazon has for those who want to launch new brands. Listen and enjoy!

Robyn has been heralded as one of the country's foremost leaders on the topic of selling and marketing products on Amazon.com. She has been a guest on shows like Entrepreneur on Fire, Confessions of A Marketer, and is a SEMrush Academy professor. Robyn is the co-founder of Marketplace Blueprint, a digital agency that specializes in listing optimization and advertising on Amazon. She has over a decade of experience selling online on Amazon, eBay, and other eCommerce venues.

[00:01 - 08:09] Being An Accidental Entrepreneur

  • Robyn’s experience in the Amazon Space
    • Moving from retail arbitrage to wholesale
    • Maximizing the potential and money vs turning around money without any profit
      • Cash flow, advertising, and the product are key
  • Why Amazon is still an amazing opportunity
  • What Amazon really wants is a better customer experience

[08:10 - 18:14] Product Development and Listing Optimization

  • How sellers were approaching product development 36 months ago
  • What the focus for sellers should be now
    • How your product is going to solve a need or fix a problem
    • How your product is going to make the customer’s life better
  • What makes a great optimized listing
    • Really understand your customer
      • Motivate your customer
      • Check out Donald Miller’s book
  • How to make sure you are speaking to the audience and the algorithm

[18:15 - 31:13] The Lifetime Value of Your Customers

  • What sellers can do if they have great products, but they’re losing rank
    • Look at what has changed in the competitive landscape
      • Get conversions on keywords that are highly relevant
  • Where the ad spend should go
    • Start with sponsored products
    • Allocate 10% of your budget to testing new keywords, targeting types, and ad products
  • The categories where there are more needs for new brands
  • Robyn’s outlook on launching products outside of Amazon
    • Other marketplaces don't get the same traffic as Amazon does

[31:14 - 35:35] Closing Segment

  • Robyn on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“Make sure you're really clear on what it is that's really going to motivate your customer. - Robyn Johnson

“Not the same strategy works for everybody.” - Robyn Johnson

Connect with Robyn

Website: https://marketplaceblueprint.com/

Marketplace Blueprint (Facebook)

Robyn Johnson(LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

Building a StoryBrand: Clarify Your Message So Customers Will Listen

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What’s at the top of mind in your business– perspective or profit? In this week’s episode, Robin Bade, the CEO, and Co-founder of eBrands Global, shares his journey as a digital agency owner and how he ended up selling his business to the WPP Group. He explains how he took his passion for the environment as the mission with his new company where they focus on brands that are eco-friendly. Most importantly he breaks down why building a culture of excellence is essential and provides great advice on what sellers should ask a potential buyer when they're interviewing for a potential exit. Listen and enjoy!

Robin Bade is an entrepreneur and active investor with a growth mindset. He founded eBrands in 2020 buying Amazon FBA businesses worldwide and is a recognized expert in the field of Digital Marketing, E-commerce, and the Amazon marketplace. His objective is to build high-performing and quality-driven global businesses with a strong growth culture that allows him to attract and develop the best people and talent. Robin’s experience in entrepreneurship, business internationalization, and digital marketing has opened opportunities for him to act as an active Venture Partner, Angel Investor, Advisor, and Board member in several high-growth businesses. He contributes substantial value to companies set to grow through international market expansion, more effective marketing, and better leveraging digital commercial channels.

[00:01 - 08:33] Build The Company That You Want to Be Working In

  • What Robin did prior to getting into the eCommerce/aggregator space
    • His experience starting a digital marketing agency
    • How he learned how to build, grow and buy businesses
      • Selling his business to WPP
  • Make sure that you don't buy businesses that are unfriendly

[08:34 - 19:52] What's Important To A Business

  • Why the financial and environmental points of view are key
  • Areas people should look at after taking over the brand and starting to improve
    • The environmental eCommerce playbook
    • We should be better operators than normally
  • The quickest place where a seller could start improving
    • Packaging and logistics
      • Be environmental friendly
  • How to make sure you have sustainable operations

[19:53 - 31:24] Positioning Your Brand Post-Acquisition

  • Where you could improve on the brand positioning or the marketing
    • The marketing and branding aspects
      • Great value add
  • The major growth or expansion of the brand post-acquisition
    • Building expansion models: Geographical expansion
    • Bringing brands to new marketplaces
  • Questions sellers should ask a potential buyer
  • What Robin puts in place to build a culture of excellence in his team
    • Communicating the values of the business

[31:25 - 33:26] Closing Segment

  • Robin on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“If the business grows bigger than yourself, then you've succeeded.” - Robin Bade

“ Environmental friendly is not the opposite of being profitable” - Robin Bade

“We believe in doing what's right and doing as much as necessary. ” - Robin Bade

Connect with Robin

Website: https://www.e-brands.co/

eBrands (LinkedIn)

Robin Bade(LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

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Are you aware of what your business is truly worth? In today’s episode, Joe Valley, a serial entrepreneur, EXITpreneur, M&A Advisor, Podcaster, and Partner at Quiet Light Brokerage discloses the first step for selling your business and why you should prepare and reverse engineer your exit. Joe also remarks on the importance of making sure it’s the right time to sell and where your focus needs to be if you want to postpone your exit. Pay close attention to Joe’s insights about the aggregator space and how the pool of buyers are potentially way bigger than just aggregators. Listen and enjoy!

Joe Valley is a serial entrepreneur, EXITpreneur, M&A Advisor, Podcaster, and Partner at Quiet Light Brokerage, one of the top online business brokerage-advisory firms in the world. Joe has also built, bought, or sold over half a dozen of his own companies. And over the last nine years, he has mentored thousands of entrepreneurs whose goal is to achieve their own eventual exit. He is a ​Certified Mergers & Acquisitions Professional, and a frequent guest expert in mastermind groups, AMAs, podcasts, and speaker events for entrepreneurs worldwide. Joe’s book, The EXITpreneur’s Playbook shares real-life stories of successful and failed exits, and teaches you how to reverse engineer a pathway to your own incredible exit. Joe has personally closed nearly 100 million in transactions and touched nearly a half-billion in online exits through the entrepreneur-led team of Advisors at Quiet Light.

[00:01 - 08:50] The EXITPreneur's

  • Make sure to check The EXITPreneur's Playbook
  • Joe’s experience being self-employed
    • Launching his first online business
    • Why he decided it was time to sell his business
    • How Joe joined Quiet Light Brokerage
      • They closed under 215 million in total transactions in 2021
  • The reason why Joe came up with the idea of writing a book

[08:51 - 23:17] Understanding What Brings Value

  • The reason why he started using the term Exitpreneur
  • Reading Joe’s book is a great entrepreneurial education
    • It gives very concrete information and keeps the reader engaged
  • Looking for the opportunity versus preparing your exit
    • Why you should prepare and reverse engineer your exit
      • Always set a goal
  • How people can know when it is the right time to sell your business

[23:18 - 41:41] The EXITPreneurs Needs to Be Very True to Themselves

  • The key metrics people may change to maximize the potential of their exit
    • Have a great eCommerce bookkeeper and do accrual accounting
      • Focus on risk, growth, transferability, and documentation.
  • At which point the seller has more leverage than the buyer to structure a deal
    • Think about how competitive the process is
  • The lowball offers vs the fair market value
    • if you price the business right, the lowball offers don't come in

[41:42 - 48:43] Closing Segment

  • Joe on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“If you don't think about prepare and reverse engineer your exit, and that aggregator catches you on a bad day and gives you a number that feels good, you are going to be selling for a lot less than you should be.” - Joe Valley

“The right time to sell is when it's the right time for you the business owner. You might not be ready but your business is trending down and then you have to look out to the future.” - Joe Valley

“You're building a great business for a great buyer to take over at a great price with a great deal structure. ” - Joe Valley

Connect with Joe

Website: quietlightbrokerage.com

https://exitpreneur.io/joe-valley/

Joe Valley (LinkedIn)

Joe Valley (Twitter)

Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

The EXITPreneur's Playbook: How to Sell Your Online Business for Top Dollar by Reverse Engineering Your Pathway to Success

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Some brands can grow immediately after post-acquisition within one or two months and some can take longer depending on how complex the brand is. However, what determines the success of a product is to identify and work on the specific growth levers that enable sellers to gain authority in their industry. This week, our guest is Hamza Ramzan, the Co-Founder, and VPO at D1 Brands. He breaks down relevant tips on how sellers can maximize the value of their business as they come close to a sale. He also shares his insights in regards to the current status of the Amazon marketplace for new sellers and discloses how he has built a culture within D1 that is healthy and scalable.

Listen and enjoy!

Hamza is the Co-founder and VP of Operations at D1 Brands where he’s primarily focused on overseeing the performance and growth of the company’s top Amazon-native brands. Prior to joining D1, Hamza had successfully launched and run several profitable brands on Amazon across multiple product categories with revenues run-rating $100M+. Hamza holds a degree in Business Marketing from New York University.

[00:01 - 07:19] Sell Yourself on Amazon

  • Hamza’s experience before being the co-founder of D1
    • Doing the Amazon selling machine course
    • Looking for strategies to be differentiated in the Amazon space
      • Acquiring his first brand in 2020
  • Hamza’s leadership role in the D1 success
    • Focusing on brand maintenance and growth post-acquisition

[07:30 - 17:07] Growing Brands to The Next Level

  • Hamza’s non-negotiable for a brand
    • Maintaining inventory, data-driven decisions, and product quality
  • How sellers can know if they should keep optimizing a listing
  • Hamza's standpoint of growing businesses beyond Amazon
    • There are a bunch of other marketplaces out there
      • E.g. Walmart
  • The aggregators' perspective of growing a brand that is going down
    • What can be done to improve the margin

[17:08 - 25:16] How to Build a Harmonious Operation

  • How to build a culture that is scalable and healthy
    • Teams are single direct management
    • Being customer-obsessed and having over communication
  • Practical tips Hamza uses to inspect what sellers expect
    • Having a monthly performance review
  • The role of SOPs within D1
    • SOPs range from fundamental techniques to details of what sellers were doing before
  • Hamza shares his insights about eCommerce

[25:17 - 26:57] Closing Segment

  • Hamza on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“You ideally want to plant your seeds early on. So your brand and your products grow in the future. The earlier you plant the tree, the more it's gonna grow in the future.” - Hamza Ramzan

“One man's trash, maybe another man's goals” - Hamza Ramzan

“There is still room to grow, there's still room to launch. You really have to come to the market with a truly differentiated product now.” - Hamza Ramzan

Connect with Hamza

https://www.d1brands.io/

D1 Brands (LinkedIn)

Hamza Ramzan (LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

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Are partnerships the key to unlocking the real value of your business and taking it to the next level? We are very familiar with the expression “If you want to go fast go alone, if you want to go far go together”, but only a few of us really understand what this means for our business and our team. In this week’s episode, our guest, Jonathan Greenglass shares his journey getting into Amazon and the reasons why he felt it was time to sell. He provides us with great insights about eCommerce from both the buyer and seller perspectives. He also breaks down the key components you should consider when having initial conversations with potential buyers and how you should prepare your business if you potentially want to exit. Most importantly, Jonathan gives us his outlook on the opportunities for people to enter the eCommerce and Amazon space. Listen and enjoy!

Jonathan Greenglass is the Chief Growth Officer at Coil and is responsible for partnerships, member acquisition, affiliates, and investments. He began his career as an investment banker, advising companies on M&A and capital raising. After advising Imgur on its $40M Series A, he joined the team to help Imgur execute against its vision of lifting the world's spirits for a few moments every day. His team was responsible for strategy, programmatic revenue, business development, finance, and operations. During his time as CFO, he served as the right hand to the CEO, and was responsible for sourcing, negotiating, and executing Imgur's $20M series B.

[00:01 - 09:54] How Jonathan Got Into Investment Banking

  • Jonathan’s work experience and background
    • Getting his first job in a detailing and landscaping business
    • His journey with the digital media and the marketing ecosystem
    • How he jumped into the Amazon ecosystem
      • Moving from selling ads to physical products
  • Jonathan’s transition from landscaping to investment banking

[08:37 - 25:49] Entering the Market with Partners Who Had Real Skin in the Game

  • Why Jonathan decided to buy an Amazon business
  • How Jonathan was able to scale the Flywheel Commerce venture
    • Produce a great product and earn the customer's business again
    • Have partnerships is key to being successful
  • How to scale and find an edge in an online or digital context
  • Tommy shares his insights about the importance of partnerships
    • Be all with the same mindset and be the right partners for each other
      • The ability to do a Canada deal

[25:50 - 38:01] It’s All About Relationships

  • The current situation of the eCommerce market

  • Have a big team and all the resources to go far and fast

    • Have a thoughtful execution
  • Jonathan’s outlook on the market for sellers
  • What component sellers should consider when finding a buyer
    • Build a relationship and a good rapport
  • Things sellers should validate before getting into a deal with someone

[31:02 - 40:59] Closing Segment

  • Jonathan on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“I have an opportunity to build a brand that lives in the heart minds and hands of my customers.” - Jonathan Greenglass

“There's a lot smarter people in every single area of the business than I am. And if I can bring those people together, there's almost always going to be a locked value that together we can unlock.” - Jonathan Greenglass

“I'm less concerned with what's Johnson GreenGlass his slice of the pie and more concerned with how can we build a really big pie together, ” - Jonathan Greenglass

Connect with Jonathan

Email: jonathan.greenglass@gmail.com

Jonathan Greenglass (Twitter)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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Have you ever considered that selling your brand is your best chance at maximizing the value of your business? In today’s episode, our guest, Nate Jackson, the VP of Acquisitions at Perch, shares his thoughts about what makes a great brand and what business owners can do to maximize its value. He also remarks on what you should look out for when interviewing a potential buyer to make sure it is a strategic one for your brand. Pay close attention to how Nate felt when he made his first millionaire. Listen and enjoy!

Nate Jackson is the VP of Acquisitions at Perch, a technology-driven commerce company that acquires and operates top Amazon third-party and other D2C brands at scale. Perch has a team of operators who have the Amazon and broader eCommerce expertise that is necessary to help brands reach new heights. Prior to Perch, Nate was a Senior Manager at Bain & Company’s Private Equity Group. He received his MBA from Carnegie Mellon’s Tepper School of Business.

[00:01 - 08:36] From Being an Engineer to Become an Incredible Entrepreneur

  • Nate’s work experience and background
    • Starting his career doing nuclear power plant for the Navy
    • How he joined Bain & Company’s Private Equity Group
    • Getting into the Amazon marketplace and working at Perch
      • Third-party sellers
  • How third-party sellers go to having billions of dollars being poured into eCommerce

[08:37 - 25:51] Identifying a Great But Mismanaged Business

  • Why purchasing a technology-driven eCommerce company could be a differentiation
  • Nate’s insights about common main metrics people should consider
    • The actual profitability of the business in the past 12 months
    • The buyer's perception of the outlook into the future
  • How buyers operate based on the value they see in the businesses
  • Pivotal moments where buyers identify a great but mismanaged business
    • Buyers are often most drawn to the shiny objects
      • A trust factor between the buyer and the seller

[25:52 - 44:00] Building a Phenomenal Company

  • Nate shares some experiences where sellers pulled from a deal at the last minute
  • When sellers should or shouldn’t sell
    • What it’s the right time for your business
    • How you think about the market conditions
      • Capital, time, and talent
  • Things sellers should look at when interviewing potential buyers
  • What Nate does to build a phenomena company
    • Hiring people that are both hungry and competitive
  • Nate’s experiences taking ordinary people and making them millionaires

[44:01 - 46:47] Closing Segment

  • Nate on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“The best offer comes from the person who has the highest confidence, and the ability to grow the business.” - Nate Jackson

“Hiring for people that are both hungry and competitive. Understanding, accommodating, and team-oriented have been a really important part of our hiring focus approach. And I've seen it play out to great effects on our teams. ” - Nate Jackson

Connect with Nate

https://www.perchhq.com/

Nate Jackson (LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

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As entrepreneurs, we continually seek out ways to improve our operations to expand our brand and business. A large factor in making this achievable is to set up stable and trustworthy teams whose goal is to bridge to the overarching company goals. In this week’s episode, we have an incredible guest, Yury Gurevich, COO at Elevate Brands. We have an insightful talk about the importance of having a solid operational team to maximize brands' post-acquisition potential. He also shares his obsession with data and the significance of being analytical when it comes to decision-making. Pay close attention to his leadership journey and what he brought along from his 10-year venture at Amazon. Listen and enjoy!

Yury is a senior executive who recently join Elevate Brands as their Chief Operating Officer with over 10 years of sr leadership experience in the 3P marketplace at Amazon where he built, scaled, and led several large organizations. He will oversee the global expansion of brands, leveraging a data and process-driven approach. His goal will be to execute on the company’s vision, which is to exceed the expectations of our customers everywhere.

[00:01 - 10:57] Get into the Amazon Space

  • Yury’s journey getting to Amazon
    • Working on eCommerce 3PL
    • Recruiting businesses to sell on Amazon
    • Starting recruiting automotive sellers
      • Beginning an inbound team
  • Skills sets Yury has brought to Elevate from the 10-year venture at Amazon
    • Operational rigor is driven by orientation on data

[10:58 - 22:57] Make Integration Easier Through Organic Growth

  • Elevate’s obsession with brands and operations
    • Consider the five whys
  • When brand managers are plugged into the acquisition process
  • Yury’s insights about SOPs
    • Make sure that we have a high investment in our tech and analytics organization
    • Make sure updates are incredibly data-driven
      • Audit and track are key
  • Processes sellers can put in place that will make integration easier
    • Ensure that your data and operations show organic growth

[22:58 - 37:11] How Teams Should Integrate and Work Together

  • Learnings Yury credit to Amazon regarding brands and teams
    • Have goals be the forcing function of how teams are supposed to integrate
  • How to communicate with the team staying on the macro level vs the micro level
    • Have weekly, monthly, and quarterly business reviews
      • The way that analytics is structured is critical
  • Yury’s outlook on Amazon seeing the growth of sellers and private level brands
    • Go from bringing on existing businesses to people starting and growing their business on Amazon
  • Amazon's perspective of the aggregator space

[37:12 - 39:13] Closing Segment

  • Yury on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“Standardization is the best way to either make something super great or have it failed miserably.” - Yury Gurevich

“If [teams] goals don't bridge to the overarching company goal, there's a defect somewhere” - Yury Gurevich

“You can have all the data in the world, but if it's not visualized, and structured in the proper way, it’s just noise.” - Yury Gurevich

Connect with Yury

https://www.elevatebrands.com/

Yury Gurevich (LinkedIn)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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Are you putting your Amazon customer’s interests at the forefront before the data? Oftentimes people do it the other way around, but what sharpens the success of a brand lies in creating worthwhile reasons for those customers to purchase. In today’s show, we have a special guest, Adam "Heist" Runquist, an educator, Amazon brand builder, and advisor to D1 Brands where he has raised $150 million to purchase DTC physical product brands. We have a great conversation about the Amazon space and the projections for the future. He digs into how you can maximize your potential as well as scale your business in the Amazon marketplace. Adam explains that there is still room for anyone to enter the Amazon space, and it’s best to do so with an understanding of what aggregators are looking for. His energy and passion are contagious, you won’t want to miss what he’s got to share.

Listen and enjoy!

Adam "Heist" Runquist spent the majority of his career as a buttoned-up corporate guy. After the Fortune 300 company, he worked for acquired outdoor products brand Goal Zero - he moved out to Utah and spent four years discovering the power of physical products brands and ultimately marketplace sales channels like Amazon. He has since started, scaled, and exited numerous Amazon-centric channel brands and recently became an investor and advisor to D1 Brands - who has raised $150M+ to purchase DTC physical products brands. Adam also runs the Youtube channel "Adam Heist" - where he focuses on amazon channel strategy and using physical products businesses to "break free" from the 9 to 5.

[00:01 - 08:01] Discovering the Amazon Space

  • Adam Runquist’s experience before Amazon
    • Working at an energy company (NRG)
    • Doing aggregation for electricity companies
    • Buying Goal Zero (portable power batteries)
      • Visiting 18 factories in China
  • How Adam changed his road once he discovered Amazon
    • Having a $3 million Amazon account

[08:02 - 18:15] Well-Thought-Out Brands and Offers

  • Adam Runquist’s advice for people who what to enter the Amazon space
  • What makes entrepreneurs win in Amazon today
    • They think about the customer first
      • How you can create a reason for customers to click and purchase
  • The importance of focusing on offering the customer first instead of the data on Amazon
    • Keep in mind that dynamics are changing with complexity and costs
  • How much does branding play a role with brands?
    • A brand reveals things that consumers evaluate
      • A philosophical debate of what catches your attention

[18:16 - 41:05] The Aggregated Space

  • Adam Runquist’s outlook about when you should or shouldn’t start to sell
    • Do a personal inventory of your situation
  • Aspects people need to pay attention to when evaluating an aggregator
    • How aggregators are thinking about valuation
    • Consider the post-offer elements, the structure elements, and the human side
    • Think about how much of the money's guaranteed
  • Adam shares how he chose one aggregator
    • Have a fair financial offer and trust the aggregators
    • Be sure that aggregators will operate the business through the LOI process
      • Build a durable and predictable business

[41:06 - 45:13] Closing Segment

  • Adam on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com

Key Quotes:

“[Amazon] is not a difficult business, it's not rocket science, but it's kind of like a couple of dozen things that you don't need to be an expert at.” - Adam Runquist

“Use the data to inform and sharpen your decision making, but don't use it to create your decisions” - Adam Runquist

“[Branding] is about being able to deliver the value proposition of the product you're representing, in an emotional interesting way.” - Adam Runquist

“You operate differently as an entrepreneur when you have less risk in your personal life.” - Adam Runquist

Connect with Adam

www.fbablueprint.com

Adam Heist - Youtube Channel

@AdamHeist (Facebook)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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With the many online stores out there in the Amazon space, is it possible to be that A+ brand? Having the right technology and partnerships are significant factors, but our guest adds in another element - passion. For today’s interview, we have our guest, Alex Kopco, the co-founder and COO of Forum Brands. He explains that the way to unlock a brand’s full potential is by going back to the “why” and that everything comes back to the belief in the brand itself. Although it is a common goal to earn money when getting into the e-commerce space, the results and growth won’t be exponential without passion - and it shows with the way we do our business.

Listen and enjoy!

Alex Kopco is the co-founder and COO of Forum Brands. Alex’s entrepreneurial spirit and passion for cultivating an amazing customer experience began in his childhood leading tours of his hometown in South Dakota. He has since worked throughout his entire professional career in retail and e-Commerce, working at both Target and Amazon. His expertise spans retail buying, supply chain management, cost & inventory planning, negotiations, pricing, promotion planning, and retail P&L management. Alex is on a mission to empower e-Commerce business owners by providing them with opportunities to help their brands reach infinite growth with technology and strategic brand management.

[00:01 - 09:26] Keeping the Customer’s Perspective at the Forefront

  • Alex Kopco on falling into the path of retail
    • Watching Amazon grow from a sleeping giant into world domination
    • Learning the inner works and working dynamics by working directly in Amazon
    • Building an iconic brand that resonates with customers
      • Consider how the customer interacts with products and brands.
  • Starting Forum Brands
    • Conveying a sense of togetherness from varying walks of life

[09:27 - 22:39] The Significance of Passion When Building an A+ Brand

  • How do you juggle a day as a COO?
    • Blending roles and allowing autonomy and trust in the team
    • Starting with the “why” to unlock the full potential
      • Our passion shines through the way we handle the business.
  • What are your thoughts on the selection of categories?
    • Why you should stay away from consumables and potentially hazardous materials
    • Focusing product innovation on what consumers already love
  • How much focus are you putting on technology?
    • Operating the business more efficiently
    • Comes back to belief in the brand itself
      • The key is to strive to be that A+ brand.

[22:40 - 39:10] Realizing the Value of Starting Your Amazon Journey

  • Alex Kopco’s outlook on e-commerce
    • Becoming into convenience and a facet of people’s everyday lives
      • Physical stores may not necessarily disappear.
  • Is there still room for sellers to initiate a journey in Amazon?
    • Suppliers on recognizing building the business without middlemen
    • Standing out in the sea of sameness
  • Where should be the focus in order to maximize the value of the business?
    • Becoming as seller-friendly as possible
    • Boils down to trust and recognizing red flags
      • Establish transparency for confidence.

[39:11 - 41:17] Closing Segment

  • Alex on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“You may achieve an outcome that you feel comfortable with, but the opportunity to create lasting value is I believe, always going to be kind of short-shrifted if you aren't passionate about what it is that you're doing.” - Alex Kopco

“If you don't believe in what you're selling, customers are going to know that and they're not going to believe in you either.” - Alex Kopco

“Challenge drives innovation.” - Alex Kopco

Connect with Alex

https://forumbrands.com/

https://www.linkedin.com/in/alexkopco/

@akopco (Instagram)

@alexkopco (Twitter)

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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How is it possible to figure out the next top-selling product on Amazon? With the presence of tools and software at our fingertips, it seems doable, but this week’s guest, Tim Jordan, tells us that those are not precisely the key ingredients to launching success. In our interview, he emphasizes the need to do your own broad research before diving into product development. He warns us of the dangers of trendy products that would someday only gather dust in your warehouse. He explains how the barriers to entry to Amazon become an advantage and that we should trust the system. Trust yourself in looking for opportunities in the space and use the tools available to validate and build confidence in your decisions.

Listen and enjoy!

Tim Jordan is a serial entrepreneur and e-commerce expert, having developed multiple online brands as well as helping hundreds of other sellers through training and coaching. He is also the host of many popular content series, such as the AM/PM podcast. Tim also works as an Executive Strategist for many service-based companies in the e-commerce industry. Tim has built, launched, and created multiple brands across multiple platforms and had large collaborations in E-com education.

[00:01 - 07:44] Opening Segment

  • Tim Jordan on getting involved in real estate
    • Comparing wholesale price for government bidding to online shops got him thinking
    • Opening a shipping and sourcing company targets the biggest problem of the private label space
    • Producing content even after the exit and becoming an executive advisor

[07:45 - 26:53] Winning Strategies for Finding Opportunities and Product Development

  • What is your strategy in product development?
    • The dangers of not having the right keywords
      • Find keyword opportunities then transition into development.
    • Utlizing tools and software for analysis and confidence
      • Validate the search volume for keywords.
  • How do you approach launching a hot product?
    • Depending on the product - there is no one correct answer
    • Figuring out how many products to launch with little effort
      • Go wide, not deep.
  • What's your take on letting that product go?
    • Asking yourself if it’s worth the time
    • Combating shiny object syndrome by avoiding useless products

[26:54 - 35:00] Why the Best Time to be Entrepreneurs is Today

  • What is your advice for people still entering the space?
    • Why the risk is worth the reward
    • Stacking dominoes to reach your Amazon goal
      • Have faith in the system.
    • How the best time to be entrepreneurs is now
  • Tim Jordan on being a host of a big podcast
    • Opportunities to build a network of noteworthy people
    • Making an impact even on another side of the world

[35:01 - 39:35] Closing Segment

  • Tim on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“When we think about Amazon, specifically, we have to understand that we do not sell products, we sell keywords. So even if I have the greatest product in the world, if there's no keyword demand for it, or there's too much keyword competition, it won't sell.” - Tim Jordan

“There's no simple button to push. And if you're just pushing a button to find the great product opportunity, you're pushing the same button as everybody else, and you're gonna fail at it.” - Tim Jordan

“The software is giving the evidence and not dictating decision.” - Tim Jordan

Connect with Tim

privatelabellegion.com

IG: @timbo_jordan

FB: facebook.com/tim.jordan.714

LI: linkedin.com/in/timbo-jordan

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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What does it take to set up your corner in eCommerce world? What is the formula for making sure that each product is worthwhile? Our guest, Adam Feinberg from Britech Inc, amazes us with his story of starting a business with $40,000 in capital, selling Bluetooth speakers. As his product line grew, his brand grew to over $80 million in sales. Ultimately, he sold his business for over $100 million! So, how’d he do it? In our interview, Adam advises on practical marketing tips, and he highlights the ways we can prepare ourselves for growth, success, and an ideal exit for our eCommerce businesses. He explains that if we can go the extra mile to enhance our sales processes and financial management, our chances of success are that much greater. With such an admirable story, our chat is filled with golden bits of advice and wisdom. Listen in and you’ll be on the road to taking action in no time.

Listen and enjoy!

Adam is the CEO of Britech Inc, a brand new e-commerce start-up, and Chairman for ClearSpace, an e-commerce company focused on storage solutions. He sold Web Deals Direct, an e-commerce firm which grew to over 80 millions dollars in annualized sales in less than 6 years, for 100M plus to Perch in spring 2021. Adam is currently working with the Perch team as a consultant. Prior to selling on Amazon, Adam was the CEO of a search engine optimization firm. Adam also has 15 years enterprise software development experience, as a consultant with Accenture.

[00:01 - 10:10] From Making Websites to Amazon Success

  • Adam Feinberg on discovering eCommerce
    • Making websites and involvement in SEO
    • Turning $40,000 bucks into $100 million
      • It was simply about trying not to get jobs.
    • Starting own logistics and growing the staff
    • Keeping full stocks during COVID-19 as an advantage

[10:11 - 28:23] Marketing Tactics to Employ for Better Brand Positioning

  • What was the marketing strategy behind selling multiple brands?
    • Adding variety and selling in different categories
    • Spending money on trademarks
      • Come up with some backup.
  • How do we decide between opening another brand or expanding the existing one?
    • Doubling down what works
    • Expanding from the US to Canada or UK markets
    • Adding complementary products in the same brand
  • How do we go from marketing tactics to selling?
    • Coming into a realization of ongoing expenses
    • Approaching private equity firms and getting the deal done

[28:24 - 52:55] The Realities of the eCommerce Space in Financials and Cashflow

  • Where should eCommerce newbies focus on?
    • Establishing serious financials and doing the books
    • Ensuring accurate accounting for transparency
      • Your net margins should be at least 15%.
    • The significance of sufficient capital before starting
  • The rise of aggregators changing the cash flow of the business
    • The simplification of accounting - cash basis
    • Being wary of the $26 million-dollar mark
  • Tips on launching products
    • Offering coupons to run ads
    • Gathering reviews and minimizing ads
  • Building additional storefronts as guidance

[52:56 - 56:25] Closing Segment

  • Adam on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“I recommend in general, to spend money on trademarks, a couple of years in advance, of things you want, might want to do and come up with brands. And if you like a category, unfortunately, come up with some backup. ” - Adam Feinberg

“The most success that we had on web deals direct was taking something that was already working, doubling, tripling and quadrupling down on it.” - Adam Feinberg

“I honestly don't recommend people going into the Amazon space, unless they have hundreds of thousands of dollars to spend right now.” - Adam Feinberg

Connect with Adam

https://www.linkedin.com/in/adam-feinberg-6879033b

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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What exactly happens in the aggregator space? Let’s demystify the ins and outs of this business model in e-commerce with Brian Harwitt from Coventure. He breaks down what exactly goes on in the operations of aggregators, why they are excited to buy brands, and how credit provides more opportunities for sellers to scale in the space! In our interview, Brian explains why lenders are willing to fund these opportunities as e-commerce goes on its way to stabilization. The obvious effects of COVID-19 on e-commerce seem to be the one to blame when it comes to profitability fluctuation, but considering the ease of supply chain, availability of capital, and consumer preference, Brian points out that we are leaning towards growth and stabilization of the e-commerce ecosystem.

Listen and enjoy!

Brian is a Partner at Coventure, working within its Credit Opportunities group. He has spent a significant amount of his time working with Amazon Third Party Seller Aggregators, working with 10+ different aggregators across credit and equity investments. Brian also works with emerging fintech companies to help provide creative solutions to finance their company. Prior to joining Coventure, Brian worked in the Investment Banking group at Guggenheim.

[00:01 - 08:49] Utilizing Credit Opportunities in the E-Commerce Space

  • Brian Harwitt on getting into e-commerce
    • Utilizing credit opportunities
      • This allows financing new-age businesses including Amazon sellers.
    • Vetting the risk factor
      • Make sure to have the highest quality management teams.
      • Apply due diligence with the competency of underlying aggregators.
  • E-commerce in the lens of credit
    • Opportunities for higher returns
    • Taking away the need of bringing the customers to the page

[08:50 - 19:35] Stabilizing the Ecosystem through Supply and Capital Availability

  • What is the economics behind the venture capital perspective?
    • Financial arbitrage by efficient use of debt
      • It is about creating more value through expansion.
    • Prioritizing market share followed by profitability
  • Do equity rounds make a difference in the operations of the company?
    • Prerequisites in taking on debt as a seller
    • Scaling fast without quickly raising equity
  • Brian Harwitt’s outlook on e-commerce for aggregators
    • What the easing of supply chain issues entails
    • Stabilized ecosystem for continued growth
    • Creating more options for exits
  • What should a seller look for to exit?
    • Considering the certainty of the close
    • Dangers of miscommunication or misrepresentation

[19:36 - 35:00] Learn From Mistakes and Step into the Industry

  • Are there opportunities for entry into the e-commerce space?
    • Professionalization through aggregators
    • Learning where to focus on
  • Up to what extent is the control of aggregators?
    • Due diligence to combat potential trust issues
    • Guarding a good reputation for more closes
  • What does day-to-day in the company look like?
    • The intersection of technology and finance
    • The blending of cultures between the venture
  • Brian Harwitt’s outlook on brands picking up on e-commerce
    • Professionalizing the systems in the marketplace
    • The bullish trend and observable growth year by year
    • Awareness of what aggregators avoid
    • Negotiation and mitigating risks

[35:01 - 37:18] Closing Segment

  • Brian on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“As more and more players came into the space, we [Brian and his business partner] became more confident in the ecosystem, the ability to align to it, and the institutionalization of it.” - Brian Harwitt

“The e-commerce on Amazon's platform is really appealing because it took away the need of bringing the customers to your page.” - Brian Harwitt

“A lot of what I've seen in a lot of Amazon sellers, specifically in most of my experiences in Amazon, is that you gain market share first and worry about profitability later.” - Brian Harwitt

“As we see the supply chain issues ease, and as we see, hopefully, stabilized demand and more predictability, I think it'll be easier for capital to come into the space as we see more of a steady-state rather than this, like, euphoria, and then come down to earth. And then now we'll sort of see, what does the stabilized ecosystem look like?” - Brian Harwitt

Connect with Brian

https://coventure.vc/

https://twitter.com/bharwitt

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts, or wherever you get your podcasts!

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What are the key ingredients for turning a bootstrapped startup into a business with a valuation of up to 10-billion dollars? This week my guest, John Hefter, the founder of Thrasio, shares his story of crafting a multi-billion-dollar powerhouse! In our interview, he explains how he and his partners scaled by prioritizing higher-value opportunities and building harmonious work environments. According to John, one of his most important roles is to listen to people in positions of power in the company and identify what conflicts or problems need resolution. John also talks about the keys to a scalable business; Establishing winning cultures by building endurance in the workplace to drive people towards a goal. Winning cultures are fun, meaningful, and have no room for ego.

Listen and enjoy!

As a founder of Thrasio, John Hefter has been fortunate to witness his original team of 4 grow into a 1000 person, multibillion-dollar powerhouse. At work and in life, he is a polymath with unrelenting energy and curiosity. John enjoys regularly deploying his expertise in branding, creative, neuroscience marketing, business development, acquisitions, leadership, culture building, and product development across diverse sets of business domains. If there is a challenge met, John will face it openly with creativity, humor, and persistence.

[00:01 - 08:04] Opening Segment

  • John Hefter on building a multibillion-dollar powerhouse
    • Starting with four individuals with varying skills - networking, finance, system-building, and sales
      • Play around with the market leverage.
    • When the perfect environment for acquisition opens up

[08:05 - 31:51] Building a Winning Culture through Harmonious Work Environments

  • How was the pace of scaling to reach the vision?
    • Taking it one step at a time
    • Being humble enough to be aware of your weaknesses
      • Outsource the daunting tasks.
  • What is the typical day look like in the company?
    • Strategy-building and turning weaknesses into strengths
    • Identifying what conflicts need resolution
      • Balance time to think, to work on projects, to reach out, and to solve problems.
  • How do we establish a winning culture?
    • Being serious without taking life seriously
      • Capitalize your endurance to keep striving despite fear.
    • Knowing your flow state and triggers of stress
      • Grinding your employees to save pennies has a worse outcome than striving to create a harmonious work environment.
    • Getting the best of both worlds - fun and seriousness in the workplace

[31:52 - 44:42] Establishing Your Space in the E-Commerce Realm

  • John Hefter’s outlook on e-commerce
    • Modest to moderate growth across every category in Amazon
    • A cooling-off period in the acquisition side for e-commerce
      • Do not expect quick money!
      • Start with the objective in mind and analyze the brand’s position.
    • Settling in and optimizing management
  • Where should you focus on to grow your business?
    • Showing reliable return of investment
      • Understand the cycle of the products.
    • A smaller, healthier company is better

[44:43 - 48:33] Closing Segment

  • John on the four rapid-fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“There's something captivating about a good origin story because all of us see the potential of that in ourselves.” - John Hefter

“We literally have a rule in our office, that's ‘No Assholes’. I don't care how talented you are if you're not a cultural fit… It's a visceral response of them trying to gain power at all costs… And that, to me is a big sign that you're not going to be fit for our culture.” - John Hefter

“On your spreadsheet, you might say like, ‘Hey, I'm saving pennies here by grinding out my employees just a little bit more,’ but your long term outcomes will be much worse than creating a harmonious work environment.” - John Hefter

Connect with John

https://www.linkedin.com/in/john-hefter-a27aaaab/

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts or wherever you get your podcasts!

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It’s a common misconception that there has to be a large capital to start an e-commerce business built for success. Spencer Jan’s story will reveal otherwise. Listen as he shares his journey from a 15k side hustle to a booming two-billion-dollar business!

Spencer Jan is the co-founder of Solo Stove, an e-commerce company that was started in 2010 as a side hustle in a garage with only 15K. Solo Stove grew into Solo Brands and in 2021, raised $219M through an IPO (NYSE: DTC) giving the company that he started in a garage a valuation of over $2 BILLION dollars!

After a decade of starting and growing ecommerce businesses and having successfully exited the daily operations of Solo Stove, Spencer is now turning his focus to helping other ecommerce entrepreneurs find success.

[00:01 - 08:55] Opening Segment

  • Who is Spencer Jan?
    • Starting in the garage at 15k to a two-billion-dollar business
      • Hone in on good products for e-commerce.
    • Bootstrapping as the only option and viable path to entrepreneurship
      • Be our own brand!
    • Growing through the site by design
    • Building value in the brand

[08:56 - 35:02] The Leap to Entrepreneurship for Time Freedom and Fulfillment

  • What does it take to grow the brand with passion?
    • Finding true passion in e-commerce
    • Creating a community of like-minded people
      • Build with intention.
    • Falling in love with what you do - interacting with customers and offering desirable products
      • Start with a seed of passion.
  • What are some early trials and errors to stay away from?
    • Failures as the stepping stones to get to a place of understanding
      • Let stamina carry you to opportunities.
    • Setbacks as necessary and avenues to learning
  • What are the differences between taking calculated risks and recklessness?
    • Feeling like a mouse in a maze
      • We get better over time!
    • Going back to the essence of entrepreneurship - time freedom and fulfillment
      • Do we optimize our time?
  • What prompted the decision to shift to entrepreneurship?
    • Wanting our time and freedom back

[35:03 - 44:41] The Opportunity to Go Big with Little Investment in E-Commerce

  • How was the IPO stage of your journey?
    • Achievements as not who you are
      • Reflect and consider paying it forward.
  • Spencer Jan’s outlook on e-commerce
    • Varied tools and opportunities with little investment needed
      • Go for it!
    • A space for amazing brands to emerge, stories to be told, emotional connections to be made, and communities to be built

[44:42 - 46:52] Closing Segment

  • Spencer on the four rapid fire questions
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“If we're selling this item, we also have to help people experience those feelings.” - Spencer Jan

“Start somewhere where passion is there, or at least the seed of passion is there, and see where it takes you and the twists and turns that all businesses eventually take can lead you to a place that you never thought you were going to be at when you started it.” - Spencer Jan

“It's [e-commerce] life-changing for so many people. And so I just encourage entrepreneurs to go for it to dive in. And there's no better time to start than now.” - Spencer Jan

Connect with Spencer

https://www.youtube.com/c/SpencerJan/

https://www.linkedin.com/in/spencerjan/

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts or wherever you get your podcasts!

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The Let’s Talk Exits Podcast hosted by Meny Hoffman is a show dedicated to the growth and success of Amazon and e-commerce brand-builders. You’ll learn all about how you can maximize the value of your business to achieve your ideal exit. We believe it’s never too early to start thinking about your exit.

I’m sure you have a lot of questions about Amazon and the e-commerce space. You are not alone. In this podcast, you will get to know stories, practical tips and strategies to help you launch your brand and turn your dreams into reality.

[00:01 - 02:35] Opening Segment

  • Welcome to the show!
    • Discussing your pressing questions with incredibly knowledgeable guests
      • Weekly posts ahead!
    • Educating and guiding the exit process

[01:49 - 05:34] Maximize Your Exit with the Right Tools and Strategies

  • Thought about exiting?
  • Providing invaluable tools to get on the radar
  • What are Amazon aggregators?
  • Consolidating small successful sellers into one parent company
  • Why do people choose to sell their businesses?
    • For many reasons - financial freedom, pursuit of another passion, lack of resources to sustain a growing business, or to start a new venture - It’s all about crafting a strategic exit.
    • Considering the timing, value and potential of your brand, and the best potential buyer

[04:50 - 06:38] Closing Segment

  • Be empowered and maximize your exit
  • Book a strategy session, drop your questions and comments on https://letstalkexits.com
  • Connect with us! (links below)

Key Quotes:

“It's never too early to start thinking about your exit. No matter how much you love, or have invested in your business. Think about the exit.” - Meny Hoffman

“It's important that you don't go about it [exiting] on your own without knowing all the facts, because you want to make sure you're maximizing the exit to its fullest potential.” - Meny Hoffman

Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com

Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman

LEAVE A REVIEW + and SHARE this episode with someone who wants to achieve their ideal exit. Listen to previous episodes on Spotify, Apple Podcasts or wherever you get your podcasts!