Firing The Man

In part 2, we meet again with Mike Jackness , Mike has been in the e-commerce space for over a decade and has a wealth of experience in e-commerce, marketing, search engine optimization, and much more. Mike currently owns and operates several businesses in the e-commerce space and has been a featured speaker and presenter for countless events over the past several years. 

You might have also heard Mike on his own podcast, The Ecomcrew Ecommerce Podcast, where he and Dave Bryant have created a unique and transparent environment where they open the hood and share everything that’s working for them, and what’s not.

Listen to Mike and learn from an e-commerce superstar!

[00:01 - 09:52] Buying Inventory

• What e-commerce sellers should know about storage fees
• Mike was once against taking debt to buy inventory
  • What changed his mind?

[09:53 - 19:38] Risk Profiles of Entrepreneurs

• Personal risk profiles also matter in e-commerce businesses
• Is there a business that is worth the stress?
  • Listen to our conversation
• The different kinds of entrepreneurs according to Mike

[19:39 - 27:07] Community-Building in E-Commerce

• Mike talks about his podcast, The Ecomcrew Ecommerce Podcast
• What is it like to build a community of likeminded e-commerce entrepreneurs?
• Mike gives us a sneak peek into their paid subscription service

[27:08 - 33:11] Closing Segment 

• Know more about Mike in the Fire Round!
• Connect with Mike!
  • Links below
• Final words

Tweetable Quote/s:

“There will be dark days of entrepreneurship. That is guaranteed, and if you aren't willing to stay the course and deal with it, then you probably just shouldn't get started at all.” - Mike Jackness

Resources mentioned:

• Jungle Scout™
• Splitly
• Helium 10
• Book: Traction

Email [email protected] to connect with Mike or follow him on LinkedIn. Visit Protos Marketing now for your Amazon-related marketing needs!

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Mike Jackness has been in the e-commerce space for over a decade and has a wealth of experience in e-commerce, marketing, search engine optimization, and much more. Mike currently owns and operates several businesses in the e-commerce space and has been a featured speaker and presenter for countless events over the past several years. 

You might have also heard Mike on his own podcast, The Ecomcrew Ecommerce Podcast, where he and Dave Bryant have created a unique and transparent environment where they open the hood and share everything that’s working for them, and what’s not.

Listen to Mike and learn from an e-commerce superstar!

[00:01 - 06:07] Opening Segment

• Why Mike Jackness chose a career in e-commerce
• He talks about his first experience as an e-commerce seller

[06:08 - 16:16] Transition from Corporate America to E-Commerce

• Are you working in corporate America but planning to jump to e-commerce?
  • Your corporate experience can be valuable, and here’s how
• Here’s an important tip about profit margins that you should hear
• If the cost of acquiring a product has increased, this is what you should do

[16:17 - 26:19] Pay-Per-Click Advertising Model

• How to split test product prices the right way
• What e-commerce sellers should know about pay-per-click advertising
• How adding a lot of negative keywords made Mike’s business profitable
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400

[26:20 - 37:41] What Amazon Sellers Should Expect in the Inventory Side

• The Total Advertising Cost of Sale or TACOS is another major consideration
  • Why Mike is dialing in on this number
• We have an interesting conversation about inventory that you should not miss
  • The reason Mike is currently taking a wait-and-see approach

Tweetable Quote/s:

“I think there's also a personal risk profile overlay that you should [consider]…some people are inherently very risk-averse and some people are inherently willing to take huge chances, and sometimes that could be the same person, depending on what time in their life it is.” - Mike Jackness

Resources mentioned:

• Jungle Scout™
• Splitly
• Helium 10
• Book: Traction

Email [email protected] to connect with Mike or follow him on LinkedIn. Visit Protos Marketing now for your Amazon-related marketing needs!

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Episode 118

Emmett Kilduff is the Co-Founder & Chief Executive Officer at The Fortia Group. He has had a strong interest in e-commerce since he completed a Master's in e-commerce way back in 1999. With over a decade in leading M&A firms, Morgan Stanley and Credit Suisse, Emmett brings billions of dollars of acquisition expertise to your e-commerce exit strategy. 

Listen to Emmett and learn more about FBA aggregators and the state of the e-commerce market!

[00:01 - 05:33] Opening Segment

• The story behind Emmett Kilduff’s love for e-commerce
• His goal is to be the Morgan Stanley or Goldman Sachs of e-commerce
  • Here’s how he plans to do it

[05:34 - 15:12] State and Outlook on E-Commerce

• This is the current state of e-commerce according to Emmett
• What’s next for the e-commerce industry in the next 12 months?
• Here’s an important discussion about valuations that you should not miss

[15:13 - 25:43] How to Exit Properly from Your Business

• He talks about his company’s Exit Readiness Programme
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• Don’t miss our conversation about FBA aggregators

[25:44 - 35:46] Thoughts About FBA Aggregators 

• How to be a successful aggregator
• Will the consolidators be consolidated?
  • Listen to Emmett
• These are the services that The Fortia Group offers

[35:47 - 42:59] Closing Segment 

• Know more about Emmett in the Fire Round!
• Connect with Emmett!
  • Links below
• Final words

Tweetable Quotes:

“The winners in [e-commerce] will be the operators, not the M&A geeks like me.” - Emmett Kilduff

“Entrepreneurs are doers, not talkers, who simply never give up.” - Emmett Kilduff

Resources mentioned:

• Thrasio
• Morgan Stanley
• Goldman Sachs
• Book: The 5AM Club

Email Emmett at [email protected] or follow him on LinkedIn. Visit The Fortia Group to connect with an M&A firm focused on e-commerce exits!

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Episode 117

David and I have been selling on Walmart in the last 12 months. In this episode, we will share the lessons that we have learned so far and how you can apply them to your own e-commerce business. Some of the topics that we will also discuss are the benefits of selling on Walmart and the criteria to become a top-rated seller on this platform. 

[00:01 - 06:31] Opening Segment

• Why David and I are selling on Walmart
• Where does Walmart rank among Fortune 500 companies?

[06:32 - 17:45] Signing Up on Walmart

• Walmart is not as big as Amazon in terms of marketplace
  • But here’s what you need to know
• How to set up your listings after setting up your Walmart account
• What you need to know about the Walmart Fulfillment Services

[17:46 - 22:22] What to Know About 3PL and PPC on Walmart

• Can you use a third-party logistics provider on Walmart?
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• We share our experience on pay-per-clicks at Walmart

[22:23 - 32:30] How to be a Top-Rated Seller on Walmart

• Here’s how Walmart is utilizing feedback to improve user experience
• How to get Walmart’s Pro Seller Badge 
• Listen to our final thoughts regarding our current experience with Walmart

[32:31 - 34:32] Closing Segment 

• Connect with us! 
  • Links below
• Final words

Tweetable Quotes:

“[You] can launch more products on Amazon or you can take your existing catalog and go to Walmart...really sit down and think about that and make a business case.” -  Ken Wilson

“There’s a different type of customer on Walmart. You may find that you have a product that doesn’t sell great on Amazon but because of this customer avatar of your typical Walmart customer, maybe you’ll get better volume there.” -  David Schomer

Resources mentioned:

• Launch on Walmart by downloading this FREE document from us
• Helium10
• Deliverr
• Amazon Vine

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Episode 116

Why should you consider self-manufacturing your products?

In this episode, we will answer that question and discuss why we decided to source products here in the United States. The expectation from e-commerce gurus is that they will tell you to go to Alibaba and source your products from China. However, we discovered in our case study that sourcing in the United States has its own advantages too, some of which are even better than sourcing overseas.

We also talk about the benefits of self-manufacturing. We found out a few interesting positive impacts that both new and experienced e-commerce owners should consider. Unlike other people who only promise the “good,” we want to be honest with our Firing the Man Nation. That is why we will discuss the downsides of self-manufacturing too. 

[00:01 - 07:27] Opening Segment

• We give you a sneak peek into our topic for today
• The advantages of sourcing products from the US
  • The 3 words you can stamp on products to raise conversion rates

[07:28 - 13:55] Making the Business Profitable

• What e-commerce business owners should know about tariffs
• This is the number that we really care about

[13:56 - 26:20] Our Journey to Self-Manufacturing

• Why we decide to self manufacture FBA products
• We share our process in choosing the product to self manufacture
• The 2 types of people when it comes to self-manufacturing

[26:21 - 36:35] Impacts of Self-Manufacturing

• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• We talk about the impacts of self-manufacturing on our business so far
  • How to capitalize on the Fulfilled by Merchant (FBM) method
• How we generated additional profit margins from our businesses

[36:36 - 50:48] The Pros and Cons of Self-Manufacturing

• The downsides of self-manufacturing that we have experienced
• How satisfying it is to manufacture your own products
• If you want to self manufacture too, these are the things to consider

[50:49 - 53:22] Closing Segment 

• We share our key takeaways from our current experience on self-manufacturing
• Connect with us!
  • Links below
• Final words

Tweetable Quotes:

“If you’re self-manufacturing, quality control is on your lap. That’s well within your control.” -  Ken Wilson

“The ability to make something is incredibly satisfying and it creates value.” -  David Schomer

Resources mentioned:

• DOWNLOAD our case study on firingtheman.com/usa
• Book: Who Not How
• Thomasnet.com
• MFG
• Maker’s Row
• Made in America

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Episode 115

Being constantly on the lookout for new options can definitely open doors to a lot of possibilities especially in the world of business. For a lot of entrepreneurs in e-commerce, Asia has always been the go-to for outsourcing products and materials. But in this episode of Firing the Man, sourcing specialist and entrepreneur, Susana Bermudez shares with us all the opportunities with sourcing products in Mexico and Latin America. 

[00:01 - 05:52] Opening Segment

• Susan Bermudez shares the story on how she started sourcing products in Mexico
• She started with helping manufacturers find ways to enter the US market
• Joined the world of e-commerce and studies how the process works

[05:52 - 17:44] Benefits of Sourcing from Mexico 

• Reasons why sellers should consider sourcing in Mexico
  • To explore and discover new options in terms of sourcing 
  • To support and work together with countries from the same continent 
• More accessible for E-commerce
• Having a variety of popular and available products in Mexico 
• Having shorter lead times 
• 90% of products do not pay tariffs 
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400

[17:45 - 20:57] Cultural Differences with Suppliers in Mexico 

• Overcoming cultural differences 
• Different way of doing business compared to Asia 
• Having patience and developing a relationship with the manufacturer is crucials 
• Reaching out to these suppliers in Mexico 

[20:58 - 23:22] Finding Suppliers in Mexico 

• Sourcing can be a challenge 
  • Majority of the suppliers do not have websites 
  • Suppliers mostly use Whatsapp to connect with partners 
• What’s it’s like to work with Susana
• Opportunities in outsourcing from Mexico 

[23:23 - 45:55] Closing Segment 

• Know more about Susana in the Fire Round!
• Connect with Susana through the links below
• Final words

Resources Mentioned: 

• Think and Grow Rich by Napoleon Hill 

Tweetable Quotes:

“[Mexicans] love connection and create that connection with the manufacturer. It's the most important thing you can do because that's the only way they're not gonna feel [like] they are just using you as a manufacturer. ” -  Susana Bermudez

“We [help them] create that environment of trust that the manufacturer needs.” - Susana Bermudez

Visit Susana’s website: https://www.manufacturesuppliers.com or connect with her on LinkedIn! 

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“You can’t hustle without stress and anxiety,” Most entrepreneurs seem to think the grind comes at the expense of your heath. But in this episode of Firing the Man, Author Catherine Farley, dives into how to take care of your body and mind just as well as you take care of your business. 

Catherine is an accomplished author, speaker, physical therapist, and wellness coach.  We go into depth about her new book “Desert to Dawn – Reflections to Inspire, Refresh, & Renew.”  We talk about stress management, dealing with anxiety-provoking situations, and how not dealing with these types of issues can take a toll on your mental health as well as physical wellness.

[00:01 - 07:50] Opening Segment

•  Catherine Farley shares her personal journey from physical therapy to being an author and a wellness coach

[07:51 - 15:58] Grinding Doesn’t Have to Come at the Expense of Your Health

• How can entrepreneurs start taking care of themselves?
• Be proactive about your health
• The process of physical therapy; identify problems, set forth a plan, and work towards a plausible outcome 

[15:59 - 31:24] Finding Your Sacred Space 

• Bring the outdoors in 
• Take time to build your sacred space 
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• How neuroplasticity affects the brain's ability to change
• How to get started with reflective thinking 

[31:25 - 41:00] Understanding Breath Work 

• How to use your breath to stay grounded in challenging situations
• How Catherine’s spiritual journey progressed since she wrote the book
• The impactful things that happened as a result of writing her book
• How choosing a word for the year instead of resolutions has helped create opportunities for growth

[41:01 - 48:04] Closing Segment 

• Know more about Catherine in the Fire Round!
• Connect with Catherine! 
  • Links below

Tweetable Quotes:

“Taking care of yourself allows you to be the best version of yourself. And if you are not taking care of yourself, you can't take care of anything else." -  Catherine Farley

Resources mentioned:

• The Checklist Manifesto by Atul Gawande
• Gift from the Sea by Anne Morrow Lindbergh

Visit Catherine’s website: https://www.catherinegoodmanfarley.com or follow her on IG @catherinegfarley and Facebook Catherine Goodman Farley

Order her book Desert to Dawn: Reflections to Inspire, Refresh & Renew: https://www.amazon.com/Desert-Dawn-Reflections-Inspire-Refresh/dp/0578344467/ref=sr_1_1?crid=2I56S4HMZMKX3&keywords=desert+to+dawn&qid=1644272146&sprefix=desert+to+dawn%2Caps%2C151&sr=8-1

Other publications: www.explorewithmimi.com

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Episode 113

Gary Huang is the founder of 80/20 Sourcing and the 7 Figure Seller Summit.  He has helped thousands of e-commerce entrepreneurs save time and money sourcing products from China and scaling their businesses. Gary has been selling online on Amazon, eBay, Shopify, as well as his own websites over the past 10 years, and currently owns a number of private-label brands.

Listen to Gary to know the top 3 things that successful 7-figure sellers do!

[00:01 - 09:17] Opening Segment

• Gary Huang tells us why he decided to jump to the e-commerce space
  • How a failed Google experience led him to e-commerce
• He talks about his first experience as an e-commerce seller

[09:18 - 19:26] Why Register to the 7 Figure Seller Summit

• What e-commerce sellers can learn from the 7 Figure Seller Summit
  • Why Amazon is a red-hot marketplace right now 
• Don’t miss our discussion about manufacturing and the role of China in it
• Are any other options aside from China?
  • Listen to Gary

[19:27 - 30:43] Secrets of 7-Figure Sellers

• The secrets of 7-figure sellers according to Gary
• When is the right time to outsource for your business?
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• Ecommerce vs. Brick and Mortar
  • Gary weighs in

[30:44 - 41:00] Why You Should Jump to Ecommerce Now

• The top mistake that successful e-commerce sellers have made
• So many opportunities are waiting for aspiring e-commerce sellers today
  • How can they find those opportunities?
• Gary gives an interesting insight into profitability

[41:01 - 45:55] Closing Segment 

• Know more about Gary in the Fire Round!
• Connect with Gary! 
  • Links below
• Final words

Tweetable Quotes:

“Traditionally, you hear that saying, ‘Don't put all your eggs in one basket…’ but one thing that surprised me right now in 2022 is for successful sellers, they're really focusing on just like one or two things that they're they can do the best.” - Gary Huang

“I think the thing that sets apart successful entrepreneurs is when they face challenges, they find a way to get things done.” - Gary Huang

Resources mentioned:

• John Elder
• Books
  • The E-Myth Revisited

Email [email protected] to connect with Gary or follow him on LinkedIn. Source products like a pro by visiting 80/20 Sourcing today.  

• Register for free in the 7 Figure Seller Summit to learn the secrets of successful e-commerce business owners!

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Episode 112

Seneca Hampton is an experienced e-commerce seller that has successfully grown and scaled his health and fitness brand into an absolute goliath on Amazon. David met Seneca a few weeks ago – and what was scheduled to be a 30-minute call turned into a 2-hour deep dive on all things digital marketing, developing a team, and strategies to crush it on Amazon.

Listen to Seneca to know how to grow from zero to 1 million dollars in just 3 years!

[00:01 - 10:42] Opening Segment

• Seneca Hampton talks about his motivations for selling on Amazon
• Here’s an important lesson that he learned from his previous employer
• Seneca walks down memory lane to share his first few years as an Amazon seller

[10:43 - 26:40] An Interesting Way to Start an E-Commerce Business

• How he convinced his loved ones to support him in his e-commerce journey
• Seneca gives his take about the right time to leave your day job
  • The first time he heard “passive income,” this is what he did
• Here’s the reason Seneca did not automate his business early on
  • He also deliberately did not put any system in place

[26:41 - 37:14] The “3X Rule” Before Leaving a Day Job

• Business is problem-solving according to Seneca
  • Here’s why
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400
• What aspiring entrepreneurs should know about the “3X  Rule”

[37:15 - 49:30] 5 Hours A Month Working in a Business

• Where stress and anxiety come from and how to solve them
• Seneca introduces the “Hyper Leverage Principle”
• How it helps him work for 5 hours monthly

[49:31 - 52:47] Closing Segment 

• Know more about Seneca in the Fire Round!
• Connect with Seneca!
  • Links below
• Final words

Tweetable Quotes:

“You’re always learning because knowledge is something people can’t take away from you.” - Seneca Hampton

“[Learning is] a must. It’s not an option. No matter what you do…you should be an expert in a subject and you can learn it through doing it.” - Seneca Hampton

Resources mentioned:

• Books
  • Rich Dad's CASHFLOW Quadrant
  • Rich Dad Poor Dad

Email [email protected] or [email protected] to connect with Seneca. 

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Episode 111

On today’s show, we are joined by Nathan Hirsch. Nathan is an expert in remote hiring and eCommerce. He built and exited FreeeUp.com, a marketplace that connects businesses with pre-vetted virtual assistants, freelancers, and agencies in eCommerce. Nathan's most recent project is Ecombalance where his team focuses on eCommerce businesses selling on Amazon, Shopify, eBay, Etsy, and other marketplaces master their bookkeeping. 

Tune in now to learn to grow your business by using your financial statements the right way!

[00:01 - 05:56] Opening Segment

• Let’s get to know Nathan Hirsch
• The story behind building FreeUp

[05:57 - 15:38] Building His Own Service-based Company

• Nathan talks about how this “rebellious act” led him to entrepreneurship
• We have an interesting exchange about vegetarian diets
• The customer pain point that pushed Nathan to get out of Amazon

[15:39 - 21:04] Building Trust With Potential Buyers of Your Company

• Newbie entrepreneurs should learn this thing about outsourcing
• How to build trust with buyers if you want to sell your company
• Want some Amazon refunds? Check out Getida
  • Promo code: FTM400

[21:05 - 30:24] How to Look at Financial Statements

• The right time to hire bookkeeping services
• The right way to use financial statements according to Nathan
• Nathan gives a sneak peek at the services that EcomBalance offers

[30:25 - 36:05] The Future of Bookkeeping

• Nathan shares his outlook for the bookkeeping industry
• Are there any interesting trends in the e-commerce space right now?
• Is EcomBalance a good investment?

[36:06 - 41:41] Closing Segment 

• Know more about Nathan in the Fire Round!
• Connect with Nathan! 
  • Links below
• Final words

Tweetable Quotes:

“One of the ways you build trust with someone buying your company is you understand your numbers and the numbers that you're telling them on those initial phone calls match up with the numbers that are actually on the documents.” - Nathan Hirsch

“You can't make business decisions just by looking at what's in your bank account and cash coming in. You have to actually see income statements, balance sheets, cash flows.” - Nathan Hirsch

Resources mentioned:

• Thrasio
• Chelsea Cohen
• SoStocked
• Book: Tools of Titans

Email [email protected] to connect with Nathan or follow him on Facebook, Twitter, Instagram, and LinkedIn. Check out EcomBalance to master bookkeeping for your e-commerce business!

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