The Ecomcrew Ecommerce Podcast

Latest Episodes:

E126: Sourcing Tips with Meghla Bhardwaj of Global Sources Mar 08, 2018

Show notes

Going to trade shows is by far our favorite method of sourcing. I can tell you so many reasons right now why we prefer it over everything else, but I'd be getting ahead of myself.

Some of the trade shows I absolutely love going to are those hosted by Global Sources. Much like Alibaba, Global Sources is a frequented supplier directory on the internet. However, unlike Alibaba, Global Sources is usually thought of as having higher quality, vetted suppliers. Global Sources also runs a conference, the Global Sources Summit, which is one of the biggest events geared towards ecommerce sellers importing from China.

Our guest for today's episode is Meghla Bhardwaj, Head of Content Marketing of Global Sources and organizer of the summit. Meghla is no stranger to the podcast; she has been a guest on Episode 63 and Dave interviewed her last year, which you can read about here.

Our conversation revolves around two topics: results of a survey carried out by Global Sources on trade show attendees and tips and best practices on how to improve sourcing.

Conversation points:

Results of the survey carried out on two groups: traditional non-ecommerce sellers and ecommerce sellers (the goal of the survey is to learn the top challenges importers are facing so that the Global Sources team can address their needs better)
How some importers don't have a set agenda when roaming trade shows--they look for inspiration and new ideas instead
The advantages of attending a trade show over simply sourcing online
Supplier selection criteria of ecommerce importers
3 things importers should do to improve sourcing
What to do to ensure quality
Global Sources summit event details

Global Sources Summit

The summit will run from April 18th-20th in Hong Kong, overlapping with the trade show that runs from the 18th to the 21st. You can reserve your spot here, and use the special EcomCrew discount code ECC100 to get $100 off your ticket price.

The summit will also have the following events:

Workshops - day before the summit, with topics such as Facebook marketing, Amazon PPC, and a beginners workshop
Mastermind
Break out sessions for beginners

Dave and I will both be speaking at the Global Sources Summit and we are definitely looking forward to it. We'd love to see you there and connect; don't forget to use ECC100 when you purchase your ticket to get a $100 discount.

We will also be hosting our very first EcomCrew mastermind in Hong Kong. If you'll be in Asia around this time, sign up for our mastermind here. We'd love to meet up and talk shop with you.

Resources mentioned:

MyEcomCrew Global Sources Summit Episode 63 Episode 86 Interview with Meghla

Thanks for listening to this episode! Until next week, happy selling.

E125: The Sound of Panic - Why You Should NEVER, EVER Violate Amazon Terms of Service Mar 05, 2018

Show notes

Amazon sellers' forums and groups were alive with the sound of panic last week.

On February 26th, Amazon sent emails to hundreds and maybe even thousands of sellers containing the following:

Hello,

We are contacting you because you appear to have violated the policies of "Misuse of ratings, feedback, or reviews", "Misuse of sales rank", "Misuse of Search and Browse" on our site... If this conduct continues, you will not be eligible to sell on Amazon.com.

It's needless to say that when you rely on Amazon for 50%+ of your revenue, you need to follow their rules, or face serious consequences--the most serious being getting suspended and losing 50%+ of your revenue. As basic as that sounds, it's very surprising to see so many sellers try to game Amazon's system for a bump in ranking and sales, praying to never get caught.

While we see some posts claiming that the email is just due to a glitch on Amazon's side (since it seems to be sent en masse), it was still enough to give those playing with fire a pretty good scare. Forums exploded with people not knowing what to do, fearing they could lose their accounts at any moment.

This is a situation I go out of my way to avoid. Lessons with Google's SEO have made me realize that I am dependent on these big platforms to succeed, and that it's a no-brainer that I have to follow their policy. We have recently adopted a successful product launch process that will get us on Amazon's good side and cater to what they ultimately want: truly good products and service that customers will enjoy.

Thankfully, we did not get the email. I hope you didn't, too.

Resources mentioned:

MyEcomCrew 2018 Amazon Product Launch Strategy How I Develop and Launch Dozens of New Products a Year Amazon Policy Change for Reviews How to Get Amazon Product Reviews in 2018 Amazon Horror Stories from Real Sellers Million Dollar Sellers Group

This episode is dedicated to Bobby, our beloved German Shepherd who passed away last week. He's been with us for 12 years and if you have a pet you know how difficult this is. He gave us companionship, protection, and joy from the day we adopted him to the day he passed away.

To Bobby, this is for you buddy.

E124: Under the Hood with Rob Hampton Part 2 - Tips to Efficiently Scale Your Business Mar 01, 2018

Show notes

On Monday's episode, Rob and I discussed how to effectively manage Filipino VAs and foster a long-lasting working relationship with them. Now that we've got that covered, we move on to the second part of Rob's problem: scaling his business.

This is a topic we are well-versed in for two reasons: we managed to double our revenue last year, and we are actively trying to replicate that growth this year. We've revamped our systems and put simpler processes in place to try and achieve that growth.

In this episode Rob and I talk about how he can do the same for his business. Some conversation points:

Systems and processes he needs to put in place for himself and his team
Product launch process put together by Jacqueline, our Director of eCommerce
Why a "minimum viable product launch" is a bad idea
Perfecting product photography
Maximizing visuals for customers who don't read
More efficient returns process
Supplier agreements and warranty claims
Other things to pay attention to when scaling

We'd like to thank Rob for joining us in this episode, and I definitely had a blast talking to him. If you want to be featured on your own episode and get free business advice from us, sign up to be an Under the Hood guest here.

Resources mentioned:

EcomCrew courses Under the Hood Our product launch process (PDF) Product launch process worksheet (Excel)

Thanks for listening to this episode. Until next week, happy selling!

E123: Under the Hood with Rob Hampton Part 1 - How to Effectively Manage Filipino VAs Feb 26, 2018

Show notes

Have you ever hired a Filipino VA and was so pleased with them that you felt like you hit the jackpot? They're incredibly talented, they get things done the way you want, they're just downright fantastic. With them helping you out, you get more time to focus on business direction and you couldn't be happier. But then, and seemingly for no reason, your incredible VA suddenly disappears. What just happened?

Rob Hampton, our guest for today's Under the Hood episode, experienced just that. This, along with many other problems such as declining work quality and failing to communicate regularly, is not an uncommon problem in the outsourcing world. But building a team of loyal Filipino VAs is not impossible. It boils down to one thing: understanding their culture.

We've managed to put together a team of awesome Filipino VAs who've been with us for a while now. They've done tremendous things for our business and we would not have grown so much in recent years if not for their help. Rob and I discuss how to build such a team, and how to manage VAs in a way that fosters a long-term relationship.

In more detail, we discuss:

what his niche is and how he came about selling on Amazon
his early experience getting betrayed by his own supplier and how he bounced back from that
his experience hiring Filipino VAs
cultural differences between Westerners and Filipinos
how much freedom to give them while still holding them accountable
rules to set when working with a VA for the first time
pay structure, and whether VAs should be paid a fixed monthly/bi-weekly salary or paid hourly instead
benefits such as 13th month pay, paid time off, and company lunches
tips and best practices on communication

Hiring people is challenging, but when you hire someone with a different culture from the other side of the globe, things get a lot more difficult. Filipinos in particular are known to be loyal and have a knack for making people happy, and it's not in their nature to knowingly do things that will disappoint you. If you put in the effort to understand their culture, traits, and customs, they will stick with you and do wonders for your business.

Resources mentioned:

EcomCrew courses Under the Hood Episode 96: Our Philippines Team – Hiring and Maintaining a Team of Rockstar VAs

If you want to be featured on your own episode and get free business advice from us, sign up to be an Under the Hood guest here.

This is just Part 1 of my conversation with Rob. In Part 2, we discuss how to effectively scale his company and reach his goal of $1 million revenue this year. Stay tuned for that on Thursday! Until then, happy selling.

E122: EcomCrew Treat! Launching Two Courses and Catching Up with Dave Bryant Feb 22, 2018

Show notes

Our months of hard work have finally paid off! We are happy to announce that the following courses are open for registration:

Build a 7-Figure Product Brand Import From China Like a Pro

And to kick things off, we have Dave Bryant from literally the other side of the world on the podcast to talk about the course and the carefully curated content that's waiting for you on the other side.

And if that's not a treat in itself (you guys know how hard it is to get Dave on the podcast), we're offering the two courses for the price of just one, for a limited time only.

I don't want to sound any more salesy than I already do, so here are some conversation points for today's episode:

Update on Dave's new offroading brand
What Dave and I are up to
Our shared belief that strict product labeling is dead, and our strategies moving forward
The benefits of product differentiation, both in sales and protection
Dealing with suppliers and packaging hacks
What to look for in a niche
Validating products
Tips on starting a brand
Our respective revenue expectations when first launching a product

This episode is kind of a preview, so many of the things we talk about here are discussed in more depth in our courses. If you've bought one of our courses previously, just send us an email at support@ecomcrew.com so we can upgrade your access for FREE.

Also, we have a lot going on for you in the next couple of months. First off is our webinar on March 6th, which you can sign up for here, if you haven't already. Dave and I are also speaking at Global Sources in Hong Kong in April, and since we'd love nothing more than meeting new people and discussing all things ecommerce, we are hosting EcomCrew's very first mastermind on April 21st in Hong Kong. So if you are going to Global Sources and have some free time, we'd love to meet up with you then. Register here!

Resources mentioned:

EcomCrew.com/course EcomCrew's 2nd Webinar MyEcomCrew.com Hong Kong Mastermind Global Sources

Thank you so much for listening to the EcomCrew Podcast. Until next week, happy selling!

E121: How Ezra Firestone Spends Money Growing His Businesses Feb 15, 2018

Show notes

"If you think about the money as the fuel that drives the car, if the money is getting stopped up before it gets to the vehicle--meaning it's not being organized properly--then you never get the vehicle to move forward." - Ezra Firestone

Ezra Firestone is in the house!

That's right, Ezra Firestone of Smart Marketer is our guest for today's episode. Labeled as the first and leading ecommerce influencer in the world, Ezra runs multiple seven- and eight-figure businesses and has been working in the industry for over a decade. He is a very busy man and I'm definitely stoked to finally be able to talk to him on the podcast!

Today's topic goes to the very core of any business--money. When you run a business, it's only natural to try to lower your expenses as much as possible in order to maximize profits. That means trying to get the lowest cost of goods, lowering advertising spend, and crimping on employee salary. But if you're trying to grow your business and want it to last for more than a couple of years, is that really the right thing to do?

Ezra shares his exact formula on how much he spends on all areas of his businesses. His goal is to grow his businesses aggressively, and that means he tends to spend a lot more on areas where most entrepreneurs tend to cut corners. For example, other people go ballistic when he mentions he spends 10-20% of his top-line on employees alone.

In a little bit more detail, here's what we discussed:

Who Ezra Firestone is (for those who've been living under a rock)
How much to sell items for
The advantages of selling higher-cost, premium items
How much to spend on Cost of Goods Sold
Why he spends 10-20% of his top-line revenue on his employees
How much to reinvest back into direct growth marketing and how to allocate the money for ads
Metrics for valuation
What blended Cost per Acquisition is
Lifetime customer value, repeat order rate, cross-sells and upsells
When to take cash for equity and when not to

This episode is longer than what we usually do, but I didn't even notice it because I enjoyed talking to Ezra so much. I even compared my numbers to his and will apply many of his principles on my business. He's a very busy guy, but he was kind enough to spend more time on the podcast than most guests usually do!

If you want to learn more about Ezra and check out what he's up to, just go to smartmarketer.com.

Resources mentioned:

EcomCrew Webinar BOOM! by Cindy Joseph Zipify Pages One Click Upsell

Thanks for listening to this episode! Until the next one, happy selling.

E120: Getting Fired From My Own Company Feb 12, 2018

Show notes

"The reality is that one day you wake up and you realize that you're the bottleneck in your own business, and it's time to be fired." - Mike Jackness on handing over the reins of the company to someone else

Have you ever had that feeling when you just know you're about to get fired from your job? In 41 years I have never been fired--I worked hard enough to not be in that situation--and it's certainly uncomfortable dealing with this issue with a company I started.

You might remember me doing an episode about my goals for 2018, and surprisingly, those were the very goals that led me to feeling I might get fired from my own company. One of my goals is to double in revenue again this year, and at this point in our business, doubling will require a lot more effort than it did last year. That means I, as the CEO, will have to hand off tasks I enjoy and focus more on high-level (and sometimes less exciting) business development efforts.

The thing is, I enjoy doing the lower-level stuff. I like the dopamine hit of a successful Facebook ad or PPC campaign. But when I hired Jacqueline, our Director of Ecommerce, she knew that I needed to give them up in favor of the high-level stuff, so in order to get me to do them, she is essentially firing me from the informal marketing position I always loved.

Here are some points I talked about in this episode:

A look back at my 2018 goals
The moment Jacqueline began taking over my job
How hard it is to hand off some responsibility to focus on higher-level stuff
Plans of a "Day in the Life of Mike Jackness" podcast episode

It feels weird, to say the least, to no longer be doing what I love in order to do the less sexy but necessary functions of a CEO. But in business there will always be trade-offs, and if giving up dopamine hits is what I need to do to achieve my goals, then I'd gladly do it.

Resources mentioned:

MyEcomCrew My 2018 Goals Traction: Get a Grip on Your Business

As always, thanks for listening to this episode. Until the next one, happy selling!

E119: Under the Hood with Cory Stout Part 2 - Finding an Exit Strategy Feb 09, 2018

Show notes

In Part 1, Cory and I talked about his business, Woodies, and the SAAS subscriptions he has racked up in running his business. We went through his SAAS subscriptions and evaluated whether or not he should hold on to some of them and let go of the others. Since he has quite a long list, we continue to talk about the rest of the services he uses in the first part of this episode.

Cory then talks about an impending threat to this business: Chinese sellers. This is a problem we've seen more and more of and talked about extensively last year. The good thing is that there are many things Chinese sellers still can't do to get ahead, but we believe that it's only a matter of time before they swamp Amazon and the platform will be too small for everyone to thrive in. With that in mind, Cory and I discuss a topic that might actually be difficult to talk about--selling his business.

Here's an overview of everything that we discuss:

Sending traffic to Amazon from his website
How real the threat of Chinese sellers coming to dominate Amazon is
Strategies to win against Chinese sellers
Exit strategy advice
Ways to maximize the value of his business in case he decides to sell it

This has been a very interesting conversation with Cory. He definitely has his head on the right track, being quite young, and running a million-dollar business while traveling the world. He might have to consider an exit strategy for his business, but with his proven track record, finding success on a new business is something he can absolutely do.

Resources mentioned: MyEcomCrew Under the Hood E88: Exiting Your Business With Joe Valley of Quiet Light Brokerage

Thanks for listening to this episode and I hope you enjoyed it as much as I did recording it. Until next week, happy selling!

E118: Under the Hood with Cory Stout Part 1 - Trimming Down SAAS Subscriptions Feb 05, 2018

Show notes

We've released 4 Under the Hood episodes so far and we've been getting a lot of good comments about the segment. It seems to resonate with a large listener base, and since we've been really happy about your feedback, we're bumping things up and releasing more of these episodes.

For today's episode, we have Cory Stout of Woodies.com on the spotlight. Cory is living a nomadic lifestyle while running Woodies, and since automation is a big part of his business, he has been racking up a long list of SAAS (Software as a Service) subscriptions. Today he and I talk about his subscriptions and evaluate whether or not they're worth keeping.

Some conversation points:

How Cory got into ecommerce
Why he sold his first business to his AirBnb host
The background of Woodies
Why he chose to sell wooden items for his second business
His mom's role in his business and the "2017 Employee of the Year" award he gave her
His SAAS subscriptions list (spoiler alert: it's a long one)
My evaluation of his SAAS subscriptions

In Part 2 of our conversation, Cory and I continue to evaluate and talk about his SAAS subscriptions. Stay tuned for Part 2 on Thursday!

Resources mentioned:

MyEcomCrew Under the Hood

As always, thanks for listening to this episode. Until the next one, happy selling!

E117: How an MMA Fighter Built a Multi-Million Dollar Company Selling Digital Products Feb 01, 2018

Show notes

"Even when you find business models that are pretty well fleshed-out, there's gonna be a million ways to connect the dots that you just kind of have to take your best swings and learn as hard as you can and work as hard as you can. That's going to be everybody's experience in entrepreneurship. There's really no way around that." - Dan Faggella

Our guest for today's episode is a Class A badass guy. Those who have been listening to the podcast for a while now know that I vet every single guest to make sure that they don't pitch a product or service that's not useful to our listeners. Hence I have a rule to never interview anyone I haven't met personally.

This guy just broke that rule.

Our guest, Dan Faggella, is an awesome, I-wish-I-had-more-time-to-talk-to-him impressive guy. I've been in ecommerce for over 15 years and it's hard to impress me with anything these days. But Dan just blew me away. I talked to him for about 40 minutes and had me thinking about implementing his ideas on my business after the interview.

Dan Faggella is the founder of Tech Emergence, a company focusing on artificial intelligence. But before he founded Tech Emergence, he built and ran Science of Skill, an eLearning ecommerce company geared towards self-defense. What started as a way to fund his dream of building an AI company became a multi-million dollar venture, achieved by selling digital products.

In this episode Dan and I talk about his early days in ecommerce, how he came about the idea of creating Science of Skill, tips on selling digital products, and tons more tips on ecommerce and entrepreneurship in general.

As a sneak peek, here are some conversation points:

How Dan and I virtually met
Why and how he started Science of Skill
How he found ecommerce as a way to fund his lifelong dream of creating an AI company
The two approaches to selling digital products
Leveraging digital products to increase margin on physical products
Why he doesn't sell on Amazon
Where he finds his customers and his sales channels
Tips on selling digital products
How he finds experts for his instructional videos
His badass Jiu Jitsu skills and how he can beat guys twice his size (link to video below)

This is an unusually long episode and I apologize for that. I just loved talking to Dan and wish I could have more time with him. It was such an insightful and information-packed conversation and I hope you find it extremely useful as well!

Resources mentioned:

MyEcomCrew Epic video of Dan beating big guys Coloring Club

If you want to know more about Dan or reach out to him, you can go to his website, or shoot him an email at dan@techemergence.com. You can also find him on Twitter (@danfaggella).

Thanks for listening, as always. Until next week, happy selling!

Our TOPPODCAST Picks

Follow Us

Stay Connected

The Ecomcrew Ecommerce Podcast

Related Podcasts

Links

Stay Connected