Watch the video on YouTube - https://youtu.be/uy09qwgfXDM
Michael Michelini shares his e-commerce entrepreneurial journey from wallstreet to selling in Ebay in 2004 to creating many physical product brands and living in China for years.
https://www.michaelmichelini.com/
https://www.globalfromasia.com/
https://mikesblog.com/
#amazonsellers #amazonfba #amazon
Question: What got you into e-commerce in 2004?
Started working on Wall Street
Co-worker was selling apps and he was helping out
Started to learn about online marketing and growth hacking
Attended a seminar on e-commerce and was skeptical but ended up giving some good content
Question: How did you start your e-commerce business?
Started by selling on eBay
Learned about drop shipping
Started experimenting with different products
Found success with a specific product and started building a brand
Question: How have you adapted your business in the post-Covid world?
Started focusing on Amazon
Began working with factories directly to get better prices and higher margins
Set up a joint venture company with a Thai factory where they provide factory direct pricing and he provides the brand, trademark, and cash in the bank account
Pay for expenses through the joint venture company and distribute dividends twice a year
Question: What is the most exciting thing in e-commerce today for you?
Interested in the potential for bridging crypto and e-commerce
Believes there could be a merger between NFTs (non-fungible tokens) and e-commerce, potentially through an Amazon-like platform
Thinks there could be potential for Amazon to do something with NFTs and products
Interested in the potential for merging the brand with e-commerce through NFTs
Question: What is your current business model?
Licensing some of the brands' products
Equity holder and shareholder in a joint venture with a Thai company
Factory direct pricing and going straight to Amazon
Receiving 30% of the sale price
Question: What is the most exciting thing in e-commerce today for you?
The opportunity to bridge crypto and e-commerce
The potential for a merger between an Amazon-like platform and the NFT market
The possibility of Amazon implementing NFTs with their products
The idea of merging NFTs with brands and e-commerce to create a new type of brand loyalty.