Firing The Man

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Episode 48In this episode, we will get to know Getida, a tool that can help Amazon sellers get thousands of reimbursement. Getida takes less than five minutes to set up. Afterwards, you can now enjoy reimbursements you never knew you could have! We’ll discuss how we can leverage this tool...and more in Firing the Man podcast. [00:01 - 03:28] Opening SegmentWe introduce our topic for today, getting reimbursements from AmazonWe talk about how we can explore 30 different ways to get money back from Amazon through the Getida toolSetting up the tool lasts for only five minutes![03:29 - 12:40] Thousands of Reimbursement in Less than a WeekWe talk about the differences between Getida and Refund GenieWe share our experience of using GetidaFind out how you can get $200 of free reimbursement credit. More info belowOffer Code: Firing the ManWe talk about the other benefits of Getida aside from getting reimbursementsGetida can help you on your audits. Find out how. [12:41 - 14:09] Closing Segment We have partnered with Getida to give you free reimbursement credits. More info below.Final wordsTweetable Quotes:“What [Getida] does is it goes back and scrubs all of the data and all of the reporting within Amazon to identify areas where you can get refund.” - David SchomerResources Mentioned:Maximizing e-commerceRefund Genie------------------------------------------------------------------------------------------Go to www.firingtheman.com/getida and get your money back from Amazonwww.FiringTheMan.comFacebookYouTubeInstagramEmail us --> support@firingtheman.
Episode 47In this episode, we will talk about the current events happening in the world of e-commerce. We will discuss probably the most significant news in the e-commerce world today. We will also talk about several news related to Amazon and share our insights about turning a famous video platform into an online shopping center. Let’s dive right into this episode and dig into the news articles Ken and I discussed to give you a better view of what’s in store for the e-commerce world. [00:01 - 06:25] Tech Giants in Trouble? We talk about the 451-paged report released by the United States House of Representatives on the competitive practices of Facebook, Google, Amazon, and AppleWe share our thoughts about the issues being thrown at Amazon, specifically on the experience of third-party sellers David shares a big brother-little brother analogy as he gave his insights about the report[06:26 - 15:02] Happenings in the AmazonDavid shares his suggestions to make the launching of Amazon Prime Day better next time.Ken shares his thoughts on why Prime Day seems to be not a big deal this year because of the COVID-19 pandemicWe discuss the new feature on the Seller Central mobile appDavid talks about the customer experience being enhanced by the 2020 Extended Holiday Returns PolicyThe Policy benefits Amazon but not third-party sellers Ken shares his thoughts about Amazon releasing webinars through their Amazon Small Business Academy[15:03 - 19:50] Shopping on YouTube David talks about how YouTube can be transformed into an online shopping centerKen shares his insights about how tags and meta-descriptions in YouTube videos can increase Google’s revenueDavid shares his thoughts, hoping that YouTube will not lose its authenticity if this plan proceedsFinal wordsResources Mentioned:12 Accusations in the Damning House Report on Amazon, Apple, Facebook and GoogleFringe notions on antitrust would destroy small businesses and hurt consumersAmazon Prime Day 2020: A full roundup of all the best deals still available — save on Apple AirPods, Adidas, and RokuAmazon Seller2020 Extended Holiday Returns PolicyAmazon Small Business AcademyGoogle Plans to Make YouTube a Major Shopping Destination------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.
Episode 46In this episode, we will be reviewing the book, “12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur” by Ryan Daniel Moran. Ryan founded Capitalism.com, an online resource to teach entrepreneurs how to build successful businesses and invest the profits. More than 300 of Ryan’s students have now succeeded in building seven-figure companies using his “12 months to one million” methodology. Let’s dive right into this review and learn more about building a business from zero to a million. [00:01 - 05:02] Opening SegmentWe gave a backgrounder about Ryan Daniel Moran David talks about the core content of the bookHow many products at what average price and at how many units selling daily can you say you have a million-dollar business?[05:03 - 13:44] Grind, Growth, GoldKen talks about the highlights of the Grind Stage of building a businessBuild an audienceDavid discusses the Growth Stage of building a businessDo a face-to-face outreach to know what your audience wants Ken talks about the Gold Stage of building a businessStart experimenting with different types of advertising techniques to see what works for you We share in what stage of growing your business you can start paying yourself[13:45 - 22:21] Closing Segment We share the parts of the book that we like to wrap up our reviewBuild an audience before launching the productFocus on one thing at a timeLearn from successful peopleDavid talks about how he likes the examples cited in the book and how it is practical for people Where does your audience hang out? David shares what separates Ryan from other peopleTweetable Quotes:“You need to make fast, bold decisions when you’re starting out.” - Ken Wilson“You have to be comfortable with the fact that you won’t get everything right.” - Ken Wilson“Efficiency should be top of mind in this grind stage.” - David SchomerResources Mentioned:12 Months to $1 MillionCapitalism.com with Ryan Daniel MoranThe Brand Builder PodcastTribe of MentorsFreedom Fast LaneThe One Percent PodcastScott Voelker------------------------------------------------------------------------------------------Connect with Ryan on Linkedin, Facebook, Instagram, Twitter, and YouTube. Check out his personal website. Visit his company online at Capitalism.com and their social media channels: Facebook, LinkedIn, and Instagram.www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.
Episode 45In this episode, we will be interviewing the best selling author of the book Buy Then Build, Walker Diebel. He is also a serial acquisition entrepreneur, M&A advisor, and a successful movie producer. Walker acquired seven companies over ten years and co-founded several startups.Let’s dive right in and learn how to buy a business without having to have the money that it takes. [00:01 - 06:00] Opening SegmentWalker shares the story about his background and the beginning of his career journeyAcquiring some of the largest companies in the world was achievable[06:01 - 14:34] Buy Then Build Walker talks about the inspiration behind the content of his book, Buy Then BuildWalker talks about the first company he bought in 2008 that gives him the idea to write his book[15:30 - 25:59] Don’t Start a Business Walker shares his opinion on why he does not recommend starting a business Taking the odds of the startup model and just flip it over[20:40 - 25:39] Ten Trillion Dollars TsunamiWalker talks about the Ten Trillion Dollar TsunamiThere are ten trillion dollars of business value currently owned by baby boomers that need to change[25:40 - 30:19] Growth Mindset Vs. Fix MindsetWalker talks about Carol Dweck’s mindset traits studyWalker talks about Positive psychology[30:20 - 37:15] Successful Acquisition Walker talks about one of the most important pieces of the puzzle during the acquisition processFinding capital to buy a company[37:26 - 45:24] Closing SegmentFavorite book:Good to Great by Jim CollinsThe Innovation Stack by Jim McKelvey Hobbies: Reading and writing, Road biking, Film producing  Successful e-commerce entrepreneurs vs. people who give up: Get up early and set aside time to think. Work hard.How to Connect with Walker - links belowResources Mentioned:Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup GameGood to Great by Jim CollinsThe Innovation Stack by Jim McKelvey Carol DweckMartin SeligmanQuiet Light ------------------------------------------------------------------------------------------Connect with Walker on Linkedin and Buy and Build Facebook Groups. You can also visit his website at buythenbuild.com.www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.
Episode 44In this episode, we will be interviewing the Chief Marketing Officer of ShipBob Inc, Casey Amstrong. He is an expert in marketing, fulfillment, and eCommerce space as a whole. We will talk about ShipBob, an end-to-end fulfillment solution that brings the same 2-day shipping from Amazon to a wider array of businessesLet’s dive right in and learn more about ShipBob and the current updates in fulfillment during the COVID-19 situation.[00:01 - 06:59] Opening SegmentCasey shares the story about his broad background career experience in E-commerce Casey talks about ShipBob story, their mission, location, and how they were started[07:00 - 14:34] Logistics and Cost-Involve Casey talks about the logistic of how ShipBob worksIntegrated with all the major carriers and market placesCasey shares the understanding of the Cost-involve Casey shares about the process to get the details on the pricing etc.[14:35 - 25:59] Locations and Warehouse SystemsCasey talks about the locations of ShipBob and the upcoming expanded locationsCasey shares about their warehouse systems and the two-day experienceCasey talks about the changes in eCommerce, fulfillment, spot check, and carriers during the COVID-19 situation [26:00 - 36:39] Q4 pricing and Packaging Casey talks about the custom packaging process of ShipBobCasey shares about the Q4 and ShipBobs’ game plan in the increasing Volume ShipBob on returns handling process and how the spot-check goes Casey talks about the shipping discounts and freight partners ShipBob does not increase any Q4 pricing[36:40 - 41:12] International shipping and warehouses Casey talks about the gameplans international shipping and warehouse locations of ShipBobLightning Round segment with CaseyFavorite book:Sometimes a Great Notion - by Ken KeseyThe War of Art - by Steven Pressfield Hobbies: Going to the beach and other physical activitiesSuccessful e-commerce entrepreneurs vs. people who give up: The persistence How to Connect with Casey - links belowResources Mentioned:ShipBob Sometimes a Great Notion - by Ken KeseyThe War of Art - by Steven Pressfield ------------------------------------------------------------------------------------------Connect with Casey on Linkedin and Twitter. You can also send him an email to carmstrong@shipbob.com.www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.
Episode 43In this episode, we will be interviewing Cyndi Thomason, the author of the best-selling book, Profit First for Ecommerce Sellers, a Certified Master Profit First Professional. She is also the founder and president of Bookskeep, a U.S.-based accounting, bookkeeping, and advisory firm for eCommerce sellers worldwide. She has a passion for data analysis and process development. She uses that passion for educating her clients and helping them structure their businesses to maximize profits.Let’s dive right in and learn more about Profit First and how to implement it in our business. [00:01 - 04:59] Opening SegmentCyndi shares the story about her motivation in writing her best-selling book[07:35 - 15:14] Profit First for Ecommerce SellersCyndi talks about Profit First and how to implement it into the existing Ecommerce businessParkinson’s law, its history, and how it may apply in our business[15:15 - 22:40] Finding The Right Strategy in E-commerce for Your BusinessCyndi shares her opinions on eCommerce’s common strategy, which is to grow and build your business by reinvesting all of your profits back into the business.Recommendation to inch forward and go full time in Ecommerce Business[22:41 - 31:49] The Biggest eCommerce Opportunity in Profit First  During COVID-19 PandemicCyndi talks about how to make financial statement useful Check your gross margin and monthly comparisonThe current biggest eCommerce opportunity in terms of Profit first and open space (due to COVID-19 Pandemic)[31:50 - 47:15] Prevent Procrastination in implementing Profit FirstCyndi shares the biggest failures and shortfall that she has seen in the E-commerce businessHow to prevent procrastinating in implementing profit first in your business Cyndi talks about coaching and Profit First consulting program in Bookskeep[43:20 - 46:00]  Top Questions for Vetting a 3PL Lightning Round segment with Michael Favorite book: The Art of Possibility by Benjamin ZanderHobbies: GardeningSuccessful e-commerce entrepreneurs vs. people who give up: Resilient to figure it out mindsetHow to Connect with Cyndi - links belowResources Mentioned:BookskeepParkinson's Law by C. Northcote Parkinson The Art of Possibility by Benjamin Zander------------------------------------------------------------------------------------------Connect with Cyndi on Linkedin and Facebook . or Visit Bookskeep.com for more information about Profit First. www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.
Episode 42This is part 2 of our 3PL series, as we are on the hunt to find a 3PL provider. If you weren’t able to follow this series, please go back and listen to part 1. In this episode, we will be interviewing Michael Sene, the director of sales and partnership of Deliverr. Deliverr is a 3PL service specializing in fulfillment like Amazon, eBay, Walmart, Shopify, and Wish. Let’s dive right in and learn more about Deliverr and how they may complement our business. [00:01 - 04:18] Opening SegmentMichael talks about his career backgroundMichael talks about Deliverr and  his journey in it[04:19 - 15:47] 3PL Through Deliverr Michael talks about what 3PL really isMichale explains the process of sales from the Deliverr perspectiveIntegrate thorough Sellbrite or plugin directly to DeliverrCost involves getting a unit to Deliverr and out into the M-User The only transparent Logistic Provider that list their pricing publicly on the page Fast Badge platforms in DeliverrIncrease opportunity just by offering fast shipping badgesThe request for the Seller Fulfilled Prime Badge on the merchant program[15:48 - 24:48] Size and Location of the Warehouse45+ location across the countryLocated based on population density If a seller wants to ship in a large order, how many warehouses will they be sent to?Shipping Zone ProcessMichael talks about why Deliverr doesn’t enable returnsMichael shares about Deliverr’s SLA ProcessMichael talks about the storage fees on Q4 Intermediary between FBA[24:49 - 29:09] Diversifying RiskCustomers account on partnership eCommerceMichael talks about the possibility of International Shipping in Deliverr Michael talks about the steps to get sign up in Deliverr[29:10 - 34:39] Diversifying RiskMain Question in Vetting a 3PLHow it supports and handles cancelation from the buyersLightning Round segment with Michael Favorite book: Factfulness by Anna Rosling Rönnlund, Hans Rosling, and Ola RoslingHobbies: Hiking, FootballSuccessful e-commerce entrepreneurs vs people who give up: Deep CuriosityHow to Connect with Michael - links belowResources Mentioned:Deliverr FulfillmentSellbrite Integration Factfulness by Anna Rosling Rönnlund, Hans Rosling, and Ola Rosling------------------------------------------------------------------------------------------Connect with Michael on Linkedin and Facebook . or Email him at msene@deliverr.comwww.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 41In this episode, we will be interviewing Kevin Sanderson, the Founder of Maximizing Ecommerce Podcast and successful eCommerce brand owner. He is a full-time eCommerce seller who also helps others grow their businesses.Let’s dive right in and gain some valuable insights to expand your eCommerce business internationally.[00:01 - 07:11] Creating the Freedom to Reach your DreamsWe introduce our guest Kevin Sanderson Kevin talks about his career background and journeyKevin talks about the diversifying revenue and expanding to the international market[12:45 - 24:19] Selling Internationally on AmazonKevin shares the story when he began to start selling internationallyUnderstanding amazon and figuring out the hoops to expand to other market placesKevin talks about the challenges in selling internationallyConquering the fear of facing something differentUnderstanding the sales and income tax in each stateRecommendation for international expansion to startGo to Canada first, because it operates similarly to the USStart simple and add more complexity later as time goes on[24:20 - 36:19] Expanding to Canadian Market Kevin shares about the process and application in CanadaKevin talks about the benefit of expanding your market to CanadaMore Flexibility 15% more sales just by offering it thereInventory trackingStart with smaller amounts of inventory Kevin talks about Listing reviews at the start Amazon pull all the reviews together with the same Ascent in UPCKevin talks about how the currency exchanges workRepatriate your money with E-commerce global payments (Payoneer)Keep more things in local currency[36:20 - 47:15] Diversifying risksKevin talks about the risk and consequences of selling internationallyKevin shares the story and the aftermath of some mistakes he madeThe risk is pretty low, as long as you stay in terms of the serviceKevin talks about the Seller Central Portal and the Software toolsLightning Round segment with KevinFavorite bookHobbies - Workaholism Successful e-commerce entrepreneurs vs people who give up - MindsetHow to Connect with Kevin - links belowResources Mentioned:Scott Voelker PayoneerThe Compound effect: Jumpstart Your Income, Your Life, Your Success by Darren HardyDownload Free Checklist  ------------------------------------------------------------------------------------------Connect with Kevin on Facebook, Twitter, and Instagram . or visit his website at https://maximizingecommerce.com/man to download a free checklist to learn more about international selling. www.FiringTheMan.comFacebookYouTubeInstagram Email us -->
Episode 40In today's episode, we are going to be diving into some of the headlines and latest news going on in the e-commerce world. We will be discussing 3 articles regarding Amazon and other updates that will definitely be a useful resource to boost your eCommerce.Let’s dive right into this episode and be sure to stay tuned for a next-level hack[00:01 - 10:18] Amazon-Native Brand Anker Goes PublicThe brand was one of the first Amazon-native brands and is now on target to hit $1 billion in sales in 2020.A Chinese brand founded in 2011 by ex-Google engineer Steven YangOnly 146k followers on Instagram (Focus on Amazon) Branch out and use the growth to fuel their sales channel (Walmart, Best buy, apple store) 50% of Anker staff work on research and development How much of our time as a Solo-preneur are we spending on research and development?research new products, reading negative reviews and listening to the voice of the customerLearn from Anker Listing[10:19 - 29:35] Amazon Seller Fulfilled Prime is in LimboAmazon increases their fees every year especially on Q4A lot of companies tend to migrate to 3PLAmazon increasing its warehouse capacity by 50%3PL will not be able to keep their prime batch Amazon statistics they release new rules starting February 1st,2021 on seller fulfilled Prime estimate that only 10% of existing seller fulfilled Prime members will be able to meet those standards 10%September 2nd, Walmart announced Walmart+Will they be able to meet the Amazon Prime fulfillment standard [15:55 - 21:57] Amazon Added Brand Stores to Search Amazon is testing a change to its search suggestions that adds a link to the related brand’s store pageBeing brand registered and trademarked is important for more benefitsAmazon conversion rates are way higher than just your standard e-commerce siteNext level hack (Etsy following a similar branded store approach)Putting your product keyword as your new branding nameIf you have an article that you would like us to cover on our future episode, send it to ken@firingtheman.comFinal WordsResources Mentioned:Amazon-Native Brand Anker Goes PublicAmazon Seller Fulfilled Prime is in LimboAmazon Added Brand Stores to Search ------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 39In today’s episode, David and I discuss why sales channel diversity is crucial in your eCommerce business.  We share some recent stories from our own businesses, some good and some horrible. We also dive into how having the right sales channel diversity can actually make you over 200K if you plan on selling your eCommerce business.Let’s dive right into this episode and be sure to stay tuned for a strategy.[00:01 - 13:29] The Downside of Having Only One Sales Channel Can Amazon shut down your business with one stroke of a key?Ken shares an analogy that explains the risk of having only one sales channel David shares his experience of being shut down on GrouponAny success story has a pile of trial-and-error stories behind itKen shares an interesting storyHe was shut down from his entire Etsy ShopDavid shares his bad experience with Amazon Zero [13:30- 22:39] The Importance of Sales Channel Diversity for Your E-Commerce CompanyThe benefit of having a plan B if one channel gets shut downSend us an email to get the template (See links below)We talked about the upsides of having sales channel diversity“Historical marker” eCommerce multipliers generally bring around 3X Before Tax and broker shares, you potentially get $600,000 exit5 diverse sales channels which reduce the risk for the buyer and increase the valueOpted for a 4X multiplier because it had less risk than the previous business the upside would be SDE of 200,000 x 4 = 800,000 exit  the total upside of 200K What determines that multiplier?Diversification, Email list, Other brand assets, Intellectual-property What can you do to mitigate this risk?  Add more sales channels, diversify your sales channels, and mitigate the risk.[22:40 - 29:35] Things to consider before adding a new sales channelComplexityAutomation Upside (sales)Liability Sales tax complexityCost commission%Are your customers on that sales channel?List of Sales channels:See links below David talks about the things that separate your own website from some of these other third-partyFinal wordsResources Mentioned:AmazoneBayEtsyWebsite (Shopify/woo-commerce)WalmartGoogle ShoppingAmazon CanadaAmazon UKAmazon GermanyAmazon JapanAmazon IndiaRakutenFacebookPinterestGrouponInstagram------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 38In today’s episode, we will be sharing our story with the audience on how Ken and I found a third-party logistics company to fulfill our Amazon orders (or expand into other marketplaces like Walmart).  The background of this episode comes from a conversation that Ken and I had a few weeks ago where we both admitted that finding a 3PL for our Amazon businesses had been on both of our to-do lists for a few months.  We decided that we would hold each other accountable for achieving this task by the beginning of Q4.  As we started this process, we decided to document our journey and make a podcast episode to share our stories. Let’s dive right into this episode and be sure to stay tuned for a strategy...[00:01 - 12:00] The significance of finding the right 3PL We give some background on why we want a 3PLWhat is 3PL and why is it important for eCommerce business owners The downside of Amazon Fulfilment The significant increase of storage fees in Q4Two days shipping and the size of the warehouse We talk about the significance of shipping zones in 3PL companiesSteps on how we crowdsource the 3PL recommendation  listPost questions on 3 related Facebook Groups Emailing all of our connections and colleagues for any recommendation [12:01 - 24:01] Questions to ask the 3PL companyHow is the order being processedWhat costs are involved Total packages What are my total fulfillment fees for products that stay for monthsNumbers of the fulfillment centersHow quickly can they ship the ordersHow will the order be packed Large order volumesShipping discounts How long does it take to receive and process productsCan they handle international shipping[24:02 - 29:38] Finding the Best 3PL for Your ProductsFinding the best 3PL will depends on what kind of product you sell Do your own due diligence, because what is best for other companies might not be the best for yoursTransparency on pricing is not on most of these companies websiteWe talk about the crowdsource of 3PL prospect funnel listsSee below for links mentionedFind the downloadable pdf of questions and templates at  firingtheman.com/3plchecklistFinal wordsResources Mentioned:FedEx FulfillmentE-Fulfillment serviceShip my orders Warehousing and fulfillmentSpeed-commerce3pl solution.co.ukdirect-outbound.comNewgistics and deliverer firingtheman.com/3plchecklist------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 37In this episode, we interview personal development expert Karl Sona. Karl is passionate about the hustle with the time management skills to execute it. He is the host of the Free Time Podcast as well as the Chief Revenue Officer of Streamlined Podcasts, a service providing post-production services for podcasters. Let’s dive right in and gain some wisdom from Karl on how we can maximize our free time as well as some strategies and advice for personal development. [00:01 - 07:11] Maximizing Your Time I introduce our guest Karl Sona Karl talks about taking ownership of your time[07:12 - 18:09] Getting Honest with YourselfKarl shares about how he realized he needed change in his lifeBe willing to fill the gaps in your skills and knowledgeKarl gives some more resources that shifted his thinking - links below[18:10 - 32:38] Personal Development Karl talks strategy around balancing time Starting early with prayer, meditation, journaling, reading Karl talks about knowing your limits around personal development Remind yourself about the things that you’ve done and be thankfulWe talk about the importance of reward systems for completing goalsPrioritize rest and reflection in whatever way you need[32:39 - 41:02] Connecting with Like-Minded PeopleKarl talks about the power of positive connections The right people will elevate you Be the one who also adds valueThe room that excites you is the right room Lightning Round segment with KarlFavorite bookHobbiesSuccessful e-commerce entrepreneurs vs people who give upHow to Connect with Karl - links belowResources Mentioned:The Seven Habits of Highly Effective PeopleThe Powerlist with Andy FrisellaPodcast - James SwanickThe Go-GiverThe Inner Game of TennisThe Miracle MorningSensory Deprivation Tank5 AM Club------------------------------------------------------------------------------------------Connect with Karl on LinkedIn and Instagram @karl.sona. Visit karlsona.com and book a free session at https://calendly.com/karlsona32www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 36In this episode, we will talk about 5 Top Strategies for our Q4 E-Commerce Businesses. Everyone is aware of the inventory problems Amazon is currently facing. Well, with Q4 closing in, we want to give you the best tips and strategies on how you can maximize your sales during this season and after. Let’s start digging into these five strategies that Ken and I use in our own businesses, as well as some resources, that can help you get out in front even during the struggles of the pandemic.[00:01 - 10:46] Maximizing Your Q4 Strategy By Increasing Order SizeOpening Segment - What we will coverWe talk about the importance of Q4 prepWhy we love maximizing Q4Inventory management is huge in Q4Try to forecast - Increasing order sizeUse the historics from last Q4 and add 25-35% of that[10:47 - 20:22] Utilize FBMBe able to switch tactics in case of inventory restrictions Your fulfillment optionsKen’s mistake not using FBMStory about fulfillmentsWays around unit limitations on Amazon[20:23 - 29:22] Organizing and Managing InventoryHow to quantify how much a stock out will beUsing Forcast.ly for inventory managementHow Forcast.ly can help you manage and organize inventory Automatic PO We talk about getting in front of more customer - expanding sales channels Email marketing and expanding to other sales channels Amazon, Etsy, Ebay, Walmart, etc… Don’t sleep on EbayFacebook Marketplace and Google for Retail also have buyer potential Click the link to other episodes below to find more episodes on expanding sales channels[29:23 - 34:31] Email MarketingWe talk about sales coming in because of email marketingHow it will be useful for upcoming holiday sales and afterHow to generate an email listUse something of value that people will give their emails forMake sure to capture that valuable Q4 trafficConvertkit & and for a budget Gmass Pro-tipPaid someone on Fiverr to create an ebook to look 3-D[34:32 - 40:51] Conversion OptimizationThe value of utilizing conversionsDouble sales just by increasing conversionsConvince more people the product is for themAdd videos to increase click-throughs Increases conversion by 5%Importance of Split testingLinks to sites that allow you to split test belowSplit test your A+ and ABFinal words from Ken and meClosing SegmentResources Mentioned:Amazon Seller Central - Sales and TrafficForcast.lyGoogle for RetailFacebook MarketplaceConvertkit Gmass Split.lyPickFu------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 35In this episode, we will talk about the latest and greatest news that is happening in the e-commerce world. Big names in the industry are making noise from Amazon to Walmart and even Shopify. Some of them are suffering, while others are emerging. How will the market play out when the pandemic is all over?Let’s dive into this episode and dig into three articles that Ken and I will dissect to give you a better view of what’s in store for the e-commerce industry.[00:01 - 13:43] Amazon Racing to Remove the Fulfillment BottleneckOpening SegmentWe talked about an article about Amazon's recent struggles with its inventory.Non-essential jobs are unable to performAmazon's inventory is running out of spaceAmazon's IPI metrics impact on the marketWhy We Use Amazon Fulfillment CenterAmazon is one of the best logistics company in the worldThird-party sellers are having a hard time due to capacity increaseAmazon's inability to handle fulfillment is hurting your businessShipments are being delivered but not being checked-in leading to a decrease in the product rankingAmazon is planning to increase its warehouse volume by 50%This is a 100-year assetThis is a very long term bet on the future of e-commerce and the future of fulfillmentIt could help third-party sellers increase their leverage[13:44 - 19:25] Walmart Doubles Marketplace Size in a YearWe talked about an article about Walmart's unprecedented growth after partnering with ShopifyThey are competing with AmazonWallmart has now the opportunity to take advantage of Amazon's strugglesPartnership between Wallmart and ShopifyIt is increasing their marketplace and product portfolioWe talked about challenges and barriersThe harder they are, the less amount of competition you're going to have when you get across.[19:26 - 24:04] Amazon Lost Web Traffic Market ShareWe talked about an article Amazon losing market share as measured by web trafficTop players who are adopting e-commerce remained the sameThird-party sellers are stepping upHow can amazon bounce back?This is only a chink in their armorFinal words from Ken and meClosing SegmentResources Mentioned:Market Place PulseAmazon Racing to Remove the Fulfillment BottleneckWalmart Doubles Marketplace Size in a YearAmazon Lost Web Traffic Market Share------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 34Josh Bauerle, CPA is a tax accountant and founder of CPA on Fire. Josh worked in a wide variety of accounting and advising positions prior starting CPA On Fire in December of 2012.  His passion is working with entrepreneurs to help them maximize their profits and minimize their tax liability.On this episode, we dive into the following topics: What should ecommerce sellers that are just starting focus on in terms of taxesWhat is one of the top tax write-offs that is overlooked?What entity is better for a seller just starting to build a business, LLC, S-Corp?At what point is it better to transition from an LLC to an S-Corp?Top 3 tips to save on taxes for ecom sellersWhat are your thoughts on letting Amazon handle sales tax vs. applying for state nexus and doing it yourself?Are there any opportunities to save money on sales tax?What would you say to someone that says “I didn’t make any money from my start up this year, therefore, I am not going to file a return.”For your tax accounting needs, reach out to Josh here: https://cpaonfire.com/contact-us/ (tell them we sent you!)------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 33Anna Hill, CPA is an accountant for creators and online sellers. She is the founder of Accounting We Will Go.  After spending years working in the corporate sector Anna realized she had a passion for working with entrepreneurs, specifically, creators and those who sell online via platforms such as Etsy, Amazon, Shopify, etc.On this episode we dive into why bookkeeping is important, how to use your financial statements to make wise business decisions, and answer a lot of the questions that entrepreneurs have about the role of accounting in business. Links to websites mentioned in the episode: https://accountingwewillgo.com/ (tell them we sent you!)https://www.facebook.com/Accountingwewillgo/------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 32On today’s episode David and Ken had the privilege to interview Radu Oboroc, a successful full-time e-commerce entrepreneur.  Radu manages multiple e-commerce brands while selling on several diverse sales channels to include: Shopify, Amazon, Ebay and 6 international marketplaces.  Radu shares a glimpse of his journey with us; what a typical day in the life of a full-time entrepreneur looks like before quitting his job as a Software Engineer and after going full time as an entrepreneur.  ------------------------------------------------------------------------------------------www.FiringTheMan.comFacebookYouTubeInstagram Email us --> support@firingtheman.com
Episode 31On this episode we will be discussing our experiences at the first virtual Canton Fair in China.  To start off the episode, we will discuss what the Canton Fair is and why it is so important, then we will go into detail on how we interfaced with suppliers using the online portal, and lastly, we will share some lessons learned on how to maximize results when scouting for suppliers virtually.   ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com
Episode 30Today’s episode is a HUGE milestone for Firing The Man Podcast.  After two and half years of building an E-commerce business Ken quits his 100K per year Engineering job.  Ken shares exactly what it took to build his business and some simple strategies he used along the way when times got tough.  Ken also shares what raw emotions he was feeling that day he walked out of the office for the last time.  This is an episode that you do NOT want to miss! ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com 
Episode 29Robert Wright is an intellectual property attorney and the owner of Wright Private Label Law, which specializes in IP protection in the E-commerce space.  Robert is passionate about intellectual property law and has helped hundreds of clients across the globe protect their intellectual property on Amazon, Shopify, and other e-commerce platforms. www.privatelabelprotection.com------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com
Episode 28This episode is part 2 of 2, where we are joined by Mergers & Acquisitions specialist - Zach Vaninger.  Zach has spent a majority of his career in the world of Mergers and Acquisitions and has worked on transactions that total over $1 billion in deal value.  On today’s episode, Zach is going to share his thoughts on what a seller can do to prepare to get acquired and walk us through the process of selling a company.   Things that can kill a dealSeller’s revenue and/or profits drop while in the market, or worse, during due diligence.Due Diligence Surprises.Slow Responses.Inaccurate Information.Unrealistic Expectations.Over-Negotiating.Buyer Issues.Outside Market Issues.Partner/Stakeholder Disputes.Not Ready Emotionally.Strategic vs. Financial BuyersStrategicStrategic buyers are operating companies that are often competitors, suppliers, or customers of your firm. Their goal is to identify companies whose products or services can synergistically integrate with their existing P/L to create incremental, long-term shareholder value. In other words, their primary incentive for the acquisition is strategic, hence the moniker. These buyers can also be unrelated to your company and looking to grow in your market to diversify their revenue sources.FinancialFinancial buyers include private equity firms (also known as “financial sponsors”), venture capital firms, hedge funds, family offices, and high net worth individuals. These firms and executives are in the business of making investments in companies and realizing a return on their investments within 5-7 years with a sale or an IPO.5 ways to find promising strategic buyersExhaust (And Don’t Miss) the Obvious BuyersThink Outside the BoxFind the Active BuyersVerify Ability to ExecuteStretch the Geography       ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com 
Episode 27This episode is part 1 of 2, where we are joined by Mergers & Acquisitions specialist - Zach Vaninger.  Zach has spent a majority of his career in the world of Mergers and Acquisitions and has worked on transactions that total over $1 billion in deal value.  On today’s episode, Zach is going to share his thoughts on what a seller can do to prepare to get acquired and walk us through the process of selling a company. Preparing to be acquiredWhat are your goals?Get good professional advice (lawyer, accountant, investment banker)Get NDAs in place immediatelyGet everything in orderBe open with your management teamKnow your company narrative (what synergies can you bring to the buyer?)Deal processCompile a target list.Contact the targets.Send/receive a teaser.Sign a confidentiality agreement.Send/review the confidential information memorandum (CIM).Submit/solicit an indication of interest (IOI).Conduct management meetings.Ask for or submit a letter of intent (LOI).Conduct due diligence.Write the purchase agreement.Close the deal.Handle any post-closing adjustments and integration. ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com 
Episode 26On today’s episode David and Ken interview John Hatfield, a college student at Iowa State University that has successfully secured a utility patent and is about to launch his first product online.  John has entered his product into and won several entrepreneurial/elevator pitch style competitions.  This is an episode you will definitely not want to miss. ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com
Episode 25In this episode, Ken and David review their goals that they set in January 2020 for their e-commerce businesses.  You will hear what is going well, what areas they are trying to improve upon, and their plans for the rest of 2020.  ------------------------------------------------------------------------------------------www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com
On today’s episode we are going to explore off-amazon e-commerce sales channels such as Ebay, Etsy, Jet, & Walmart.  We will go through the pros and cons of these various sales channels and tell you what is working in Ken and I’s businesses.  We will also be discussing certain milestones that we recommend you hit before considering diversifying to sales channels off of Amazon and some best practices to consider while making the transition.   ------------------------------------------------------------------------------------------   www.FiringTheMan.com Facebook YouTube Instagram   Email us --> support@firingtheman.com   
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Podcast Details

Created by
Firing The Man
Podcast Status
Active
Started
Nov 24th, 2020
Latest Episode
Nov 24th, 2020
Release Period
Weekly
Episodes
48
Avg. Episode Length
33 minutes
Explicit
Yes
Order
Episodic
Language
English

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