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1️⃣ One Sentence Summary
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Interview Breakdown
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"Leveraging Social Media for Business Success: 'But I think the real indicator...is if you just post variations. Of a handful of the same videos that you know will perform that showcase your product kind of again and again and continue to tweak it...Then you have a product that you can say is validated enough to consider expanding it. I think that's an opportunity we haven't had didn't exist five years ago right.'"
"Understanding Alibaba for Outsourcing: Yeah, and so there's a couple things so if you want to go overseas, which is where you're going to get the best costing, then I think people will tend to be really intimidated by Alibaba, but I wouldn't be it's not that hard to use. So basically, that's just a search network for international factories, and all of them have rankings. So they'll basically show you how much dollars in revenue they're doing through the platform, their on time delivery rate, their reviews by the customers they have, and how long they've been on the platform."
"Understanding Alibaba's Benefits: Another nice part about Alibaba is if your preferred sellers on there, you can get financing and pay for things later through the platform, which is nice. Alibaba also has trade assurance, which means if you get a product, if you described your product immaculately on the platform and they send you something that's not as good, they'll refund you. There's lots of little things that they've made to make that process really easy."
"Ecommerce Opportunities: If you had told me five years ago you're starting a brand and be like, hey, guess what? If you get to list yourself on Fair and you're going to have 200 retailers that are sending you requests, that would sound crazy, right? It whereas now all these tools are at our disposal."
"Content Creation and Customer Engagement: The best content that performs organically, you turn that into your ads and then you kind of get this cycle of graduating content from organic to advertising and you're just kind of always in that flow. And then once you have enough customers, you begin asking them for it. I think that's one of the most compelling things that you can do now is saying, hey, tag us in your things or send us a video with this theme, or we'll give you a free thing if you do."
"Product Development Strategies: So if you are going through that process now of how do I find out what to make, how do I have ideas, how do I make it better, how do I find the factory? I just hit that every week inside there."
"Strategies for Startup Success: If you're great at one of these kind of promotional methods or sales, just B two B sales is another one where I'm going to crush selling to retailers. If you just get one of those things and you're great at it and start there, especially if have you a small team, then, you know, okay, when I want to expand, I just hire out one of these other pieces and I know I already have one locked in and generating revenue."
"Success on Amazon: Once you get one product to hit, or once you get two products to hit and you start to be like, oh, I can do this, then it's actually really easy to do, like seven. Then you start to see, oh, I only need one accounting department and I can do this across multiple things, my costs go down or oh, I'm sending stuff to influencers anyway. I can send them five products and get a discounted rate on whatever we're working on."
"Understanding Your Target Demographic: I think the biggest solution to that is just spend time with your customers or actually ask your customers those questions, or go on reddit and see what they complain about and start to build a roadmap of problems you can solve."
"Scaling Businesses: 'Seven figures is, I think, more achievable than people think. And I think a lot of it comes down to cash flow. There's a difference between six figures and seven figures... how much money you had to start or how you're able to get cash flow to get to the inventory to get there.'"
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