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Hosted by mike jackness
Hosted by mike jackness
14 episodes with mike jackness
19 episodes with mike jackness
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9 episodes with mike jackness
2 episodes with mike jackness
2 episodes with mike jackness
Mike is back on the podcast to finally reveal what he's been up to in the past year. He shares his journey from e-commerce to going full-time content creation on launching a YouTube channel while also talking about the importance of video content in promoting e-commerce brands and the potential for YouTube as a business opportunity. Struggling with tariffs? Unsure about upcoming changes? Let's talk! With Portless, you only pay tariffs after your customers pay you – so your cash always moves faster than your costs. Schedule a risk assessment and leverage tariff deferment today. All new customers get $1,000 to reinvest in their business. Timestamps 00:00 – The Journey of Mike Jackness 02:32 – Transitioning from E-commerce to New Ventures 04:03 – The Impact of Amazon and Tariffs on E-commerce 12:01 – The Future of E-commerce and Emerging Opportunities As always, if you have any questions or anything that you need help with, leave a comment down below if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. Thanks for listening! Until next time, happy selling!
If you've been listening to the podcast recently, you must have asked yourself, "where did Mike Jackness go?". Today, he's on the podcast to talk about his journey from running multiple e-commerce brands to transitioning out of the industry. Struggling with tariffs? Unsure about upcoming changes? Let's talk! With Portless, you only pay tariffs after your customers pay you – so your cash always moves faster than your costs. Schedule a risk assessment and leverage tariff deferment today. All new customers get $1,000 to reinvest in their business. Timestamps 00:00 - The Journey of Mike Jackness 02:32 - Transitioning from E-commerce to New Ventures 04:03 - The Impact of Amazon and Tariffs on E-commerce 12:01 - The Future of E-commerce and Emerging Opportunities As always, if you have any questions or anything that you need help with, leave a comment down below if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. Thanks for listening! Until next time, happy selling!
Mike Jackness and Aymeric catch up on their e-commerce journey as friends and talk about how timing and luck are so important in entrepreneurial success. Success is always a mix of luck, tenacity, and grit. It takes a bit of luck to be in the right place at the right time and some grit to keep going when things aren't as profitable as they used to. At the same time, success also involves balancing between trying new things and focusing on what works. Knowing when to zone in on the one thing or when to test the waters only comes with experience and time. My good buddy Aymeric who's been a friend of mine is on the podcast today to talk exactly about what it takes to be successful as an entrepreneur. We've both had our fair share of successful and failed ventures, but that didn't stop us from trying and moving forward. If you're a business owner looking at the tariffs right now and thinking about moving out of e-commerce, this episode might be eye opening for you. In the end, the choice is yours to make. Aymeric, thanks for joining us on the podcast today! If you'd like to outsource some work and get your social life back together, check out the VA Placement service he offers here.
In this episode, Mike Jackness interviews Michael Kaufman – the CEO of ProTuff Products. We talk about Kaufman's journey in the e-commerce industry, how he differentiates his products by offering an extended warranty and how lifetime warranties guarantees 5 star reviews. How to Find a Profitable Product Course Open Now Still struggling to find your next great product? The EcomCrew How to Find a Profitable Course is open now and is just $499 for one week only. We'll cover everything from using the ‘Cockroach approach' to developing large and bulky products, avoiding placement fees, and more. Check it out now. How Do You Use Lifetime Warranties To Guarantee 5 Star Reviews? As a shopper on Amazon, you've probably bought something that have warranty cards as a part of the products' insert. But most companies don't stand behind their warranty policy, or they just straight up have flimsy policies. Having a lifetime warranty means that you'll have to approve every warranty that comes in, no matter what. However, the bright side to this is that this almost always guarantees a 5-star review since you will actually be standing behind your own warranty policy. The Big Takeaways of Today's Episode Offering a lifetime warranty can help differentiate your products and build a solid review profile. Automating the warranty registration and claim process can save time and money, since you don't have to hire someone to approve warranties. Selling seasonal products can be challenging, but offering incentives for early registration and extending the product's use for other purposes can help mitigate the seasonality. Building a list through warranty registration is a TOS-compliant way to communicate with customers on Amazon. Choosing the right warranty duration and offering additional benefits can encourage customers to register and leave positive reviews. Lifetime Warranties Episode Timestamps: 00:00 - Introduction and Small Talk 03:14 - ProTuff Products and the Pool Tools Niche 11:29 - Differentiating Products with a Lifetime Warranty 18:10 - Building a List through Lifetime Warranty Registration 21:03 - Incentivizing Lifetime Warranty Registration and Positive Reviews 26:57 - Streamlining Warranty Management As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can. Thanks for listening! Until next time, happy selling!
Adam Craft, founder of Elevated Craft, joins Mike Jackness on the EcomCrew podcast to discuss his personal journey in building a brand. Adam shares his approach to product differentiation in a saturated market, and how building a strong brand was the first priority for Adam. This meant that learning the basics of Amazon wasn't his priority. It was all in the hands of agencies. Eventually, Adam learned about the challenges of relying on agencies and how much better it would be to learn and implement marketing strategies yourself. Adam also shares his experience with using Kickstarter, and how his upbringing impacted his business mindset.
Embark on an enlightening journey with Mike Jackness, a titan in the e-commerce domain, as he recounts his transformation from affiliate marketing maestro to Amazon brand-building virtuoso. Through heart-to-heart conversation, Mike dismantles the overnight success myth, revealing the true grit and perseverance behind entrepreneurial achievements. Ecom Crew, his brainchild, emerges as a beacon of transparency, providing fellow adventurers in online sales with the camaraderie and navigational tools needed to weather the industry's unpredictable tides.Considering Amazon's colossal presence in the e-commerce arena, we probe into the possible ripples caused by rising platforms like TikTok Shop and their impact on the e-commerce behemoth. With strategic business insights, Mike advocates for the diversification of sales channels, underscoring the importance of a singular brand focus. As he shares stories of grueling work hours and the quest for work-life harmony, we're reminded of the delicate balance that entrepreneurs must strike between ambition and personal fulfillment.Closing with a heartfelt discussion on the essence of relationships within the e-commerce community, Mike underscores the irreplaceable connections he's forged. These bonds, often cemented in the trenches of business challenges, reflect the resilient spirit of those navigating the e-commerce world. Join us for an episode drenched in hard-earned wisdom, profound insights, and actionable advice for business owners and dreamers alike, with Mike Jackness guiding us through the complexities of a life woven into the fabric of online entrepreneurship.LINKS & RESOURCES:Learn more about Terran: https://www.terran.com/Follow Mike on Social Media:LinkedIn: https://www.linkedin.com/in/mikejackness/X: https://twitter.com/mjackness➡️ Ready to go deeper into your Amazon FBA journey to accelerate your success? Get your hands on ALL of the Brand Fortress HQ resources, mentorship, and knowledge base by visiting us at BrandFortressHQ.com
Mike Jackness and Ecomcrew's brand manager, Ben Iballa, review the episodes that made the top 10 list of the year and share their thoughts on each one. 2023 was a wild ride. I let go of most of his brands, while costs on Amazon increased by a LOT. Here's a roundup of the top 10 episodes of the year. Some of the best of the year includes when I sold most of his e-commerce business, the rising costs of selling on Amazon, and my perspective on retiring. Here's some timestamps to help you along: 0:00 - Introduction 0:43 - Top 10 Episodes of 2023 3:25 - Year in Review 4:02 - Episode 10 7:08 - Episode 9 8:30 - Episode 8 9:43 - Episode 7 11:39 - Episode 6 13:25 - Episode 5 15:27 - Episode 4 17:25 - Episode 3 20:57 - Episode 2 23:14 - Episode 1 I want to thank everyone for supporting the EcomCrew Podcast. Whether you've been with us from the start or are just tuning in, I appreciate your time and feedback. I'm sure 2024 will be another year of insightful podcast episodes, and I can't wait to unpack which ones top the charts next time around. As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can. Happy selling!
After dropping a few hints here and there, Dave finally asks Mike the big question: what are you looking for in your next business? After getting into the mindset of selling all of my brands and getting back to the part of Amazon FBA that I really enjoy, I realized that it's not as fun as it used to be with my current business. I am trying to build it for the eventual sale, and after start a new business that's still within e-commerce. As most of you have probably noticed, I've dropped a few hints here and there about starting a new brand, and what better way to do so than discuss it with Dave on today's podcast! In this episode, we'll discuss a few criteria on what I would want my next venture to be, and whether Dave thinks they're unrealistic, or downright wishful thinking. Here's some timestamps to get you started: Introduction - 0:00 How was BFCM for you, Mike? - 0:53 The next project for Mike - 3:56 Struggles that Mike's trying to avoid in the future - 5:24 Mike's checklist for his next business - 12:17 Priorities with higher margins - 12:56 Increasing repeat business - 18:27 Products that work multi-platform - 24:47 A defensible moat around the business - 30:31 Making complexity an opportunity - 34:30 When is the new business getting started? - 36:39 I hope this is super helpful for those out there who are thinking of expanding their brand portfolio or starting a new business. If you are, leave a comment below on what you think your next business would ideally look like! As always, if you have any questions or anything that you need help with, reach out to us at support@ecomcrew.com if you're interested. Don't forget to leave us a review on iTunes if you enjoy our content. If you have any questions, send us an email at support@ecomcrew.com. We'd love to help you in any way we can. Full Audio Transcript Mike Jackness: This is Mike and welcome to this edition of the Ecom Crew podcast. How's it going, Dave? Doing good. We're doing some recordings here after American Thanksgiving. So I feel I feel full and thankful, I guess. And yeah, we're doing some podcasts today. DJ: This is Dave. DJ: I'm doing well, how about you? DJ: How was your Amazon balance though? Is that full and thankful after Black Friday? Mike Jackness (00:28.134) Not really. It was not a real great Black Friday, Summer Monday for us, but it never really is with the brand that I kept. I didn't really expect to have a huge Black Friday, Summer Monday. In fact, I didn't even open up my app over the weekend because I was like, I don't want to see it. Just because we didn't run any Black Friday deals. I mean, we talked a little bit about this on the podcast over this year. And so, I mean, hot and cold therapy packs are not giftable items. They're not the type of thing that people buy and gift them. There were lots of people in my space running Black Friday, Supper Monday deals. I imagine they just got crushed in terms of paying a lot of fees and giving up margin. I don't even remotely see how it's feasible. I mean, I see all these deals running. I mean, they're paying $300, $500 or more per deal, giving up a bunch of margin. DJ (01:10.195) Yep. DJ (01:15.27) No, I don't either. Mike Jackness (01:23.182) I can barely make it without even doing that. I just assume that they're losing money just to have an ego boost and that isn't interesting to me. We just go in a little bit of hibernation for this part of the year for this business. From late November to early January is just a dead zone for us. Early January things have to really pick back up. Going into the spring becomes our best months. Just roll in with what we have. When we had other businesses, we focused a lot on Black Friday and Summer Monday. We sold our baby brand this year. I'm sure they had a really great Black Friday, Summer Monday. We've sold color. That was always my favorite time of the year, although it was stressful. Black Friday, Summer Monday, huge for that. But for a hot and cold therapy brand, it's like, oh, you got me a ice pack for my back. Thank you so much. Maybe there is someone out there looking for that, but I don't think it's exactly the giftable thing. DJ (02:21.985) Yeah. DJ (02:26.573) Well, it is kind of a scenario of rising tide raises all boats and sure people aren't on there to buy hot and cold therapy pack, but they're on there to buy a toy for their daughter and hey, oh, by the way, I need to that ache on my back. I need to get something for that too. So you do get that. So I know for like our off-roading brand, it was up, I guess, about 30 or 40% over a typical Friday. So nothing crazy, but it was up. And I think that's just a case again of that rising tide. The craft brand that we have, that looked like it was up about Mike Jackness (02:40.098) Right. DJ (02:56.209) two and a half X, which I guess was kind of within my realm of expectations. And this is my first time really running a brand that is heavily dependent on Christmas. And that was one of my motivations for actually wanting to start this in the first place was to get a little taste of that Black Friday and Christmas madness. And yeah, it seemed like Friday was up about two and a half X. It seems like Monday's going to end about that too. So it was nice. I don't know how that compares to a typical Black Friday and Cyber Monday though. I really have almost no reference point because like you, Mike, most of my brands have always been, uh, not very dependent on Christmas on the holidays. Mike Jackness (03:34.474) Yeah, I mean, I think that sounds about right. You know, two and a half X seems to be what we've seen in the past. I think that that's a pretty good, pretty good result. DJ (03:44.017) Yeah. So on to today's topic, I guess, uh, as we're talking about our brands, uh, I think today's topic is what you're looking for in your next project and your next business. And I, I'm not sure if we're going into this totally as a blank slate. I'm not sure if that is actually e-commerce related, or you're looking at starting a coffee shop. Uh, so I'll let you take it away. And what exactly that next business, Hey, you're doing some competitor research. Mike Jackness (04:05.576) I've got my coffee right here. Yeah, I don't think it'll be a coffee shop. And I do think it'll be an e-commerce. I really do enjoy e-commerce. There's a lot of really good benefits to it. I also think that no matter, I've learned my lesson in terms of like the grass is greener type of thing, right? And so it's easy to start daydreaming about some other thing that's out there that can potentially make you more money. But the reality is you often forget about all the work and effort you put into what you're already doing And oftentimes that even though you know, there is a potential It's just potential and something else and the chances of success aren't as high And so I don't know. I think that I've got my ten thousand hours and then some into Indie ecommerce, so it's something that I would definitely like to stick with but yeah, I mean I I think everything's an evolution and I think it'll look wildly different than that what I'm doing right now. It'll just still be sewing things online. DJ (05:10.625) Okay. So that's, uh, that's Clara's mud e-commerce business. It's going to look different. All right, guys, that's a wrap. So what are the qualities in all seriousness? What are the qualities that you're looking for in that e-comm business? Mike Jackness (05:14.978) Hahaha Mike Jackness (05:19.435) Well, let's. Mike Jackness (05:24.918) Maybe we should look at from the other perspective of where we're at now and what the struggle is right now and what I'm trying to mitigate against, which is that we're in this situation right now selling the same thing that everybody else sells. There's really just absolutely no differentiation to our product versus the next guy. And the gap continues to close between where we've been able to have success and where we're heading to, which is that we've had success because we've had really high quality listings with good copy, good images, good customer service, lots of reviews, et cetera. But what I see is that the competition is accelerating quicker than the platform. Maybe at one point, the platform, you know, being Amazon. DJ (06:16.765) Mm-hmm. Mike Jackness (06:18.442) was growing quicker than there was competition. So even when there was competition coming into the market, your sales would still grow because there were so many new people coming onto the Amazon marketplace. But I just, by the raw numbers, I actually don't know how many prime members there are in the United States. I probably should know that number off the top of my head, but 100 million, 150 million, whatever it might be, it's let's say 30% to 50% of people in the United States. you're never going to get 100% saturation. And at some point, you're kind of hitting peak saturation of just potential shoppers on Amazon. And you know. DJ (06:54.361) Yeah. And I think the way to look at it actually, objectively, you're right. Like there's only, you can't have 400 million prime shoppers in America. There's not enough people. But all you have to do is look at Amazon's P&L and you can see that their retail sales last year were basically flat. They had revenue gains from advertising and other services, but their retail sales were essentially flat. Mike Jackness (07:04.839) Right, there's not enough people. Mike Jackness (07:11.635) Yeah, exactly. Mike Jackness (07:18.31) Exactly. And so when you look at the dynamics of that, where Amazon's, let's just say their revenue is flat in the United States, I do think that expanding out of the United States is an opportunity. We're also still pigeonholed a little bit again, because the types of products are selling. We're FDA registered in the US, trying to get other nationalities to approve these products and go through that process. I just don't think it makes sense for us right now. where we have done that in the past for other brands. And so, you know, if Amazon is hitting peak saturation in the United States, and competition continues to grow, and margins continue to erode, because when you have more competition, there's always somebody there that's willing to sell it for less. They're doing it for whatever reason, right? They're breaking into the market, and so they're stowing at a low price to try to get traction. They are... living in a lower rent, lower cost of living jurisdiction around the world, and they don't need to make as much money as I do to pay for my lavish Vegas lifestyle. There's always someone willing to do it for less. When there's more people that are in that category, it makes it more difficult for me to price my products and make the margins that I need to. to justify the risk that I'm taking by running these businesses because there is a risk, right? I mean, at any point your account could get shut down or you could get sued or Amazon could tumble and fall. There could be a recession. There's always things that happen in business. Over 19 years, I've experienced a lot of them. And so I think that you need to make enough money to justify the risk. You're holding hundreds of thousands of dollars in inventory at any one time. It feels like a hot potato. And so... Just trying to think through all these different things makes me want to shift into a very different environment where we're making products that are maybe a one of a kind or certainly much more difficult for somebody to just grab off of Alibaba or at the Canton Fair or through a sourcing agent from someplace in the world. DJ (09:35.525) Yeah. So I guess your first two points, if you want to boil it down, number one is you're looking for a product that has opportunity for international expansion. And with the products you're selling right now, they're basically a health product. And that makes expanding internationally a bit of a barrier and a bit of a difficulty. So looking for a product that is a little bit more easily expanded internationally. So running shoes don't have any international regulation around them into expanding into Australia or the UK or Canada or wherever. Mike Jackness (09:57.888) Yup. Mike Jackness (10:04.354) Yep, exactly. So, yeah, so I think, you know, shift and, okay, go ahead. DJ (10:07.425) So on that note, just before you go there, so our products are, most of our brands and most of our products don't face any international regulation in terms of import restrictions. The barrier that we've always had is, you know, you wanna expand to Luxembourg, but how do you justify getting that inventory in to serve the 12 people that live in Luxembourg? And that's always been the big barrier for us is that you need to hit a certain scale before you can warrant that international expansion. Mike Jackness (10:28.938) Right, right. DJ (10:36.253) And for us, Canada is about 25% of our sales. It works out well because, you know, I'm Canadian and geographically Canada and the United States are close, but expanding to a lot of these other countries, it is a big logistical issue. So, do you think that will be an issue? Do you think that you can overcome that, especially as you're starting up with a brand that's, you know, doing low thousands of dollars a month in sales in the very beginning? Mike Jackness (10:36.31) Yeah. Mike Jackness (10:40.994) Yep. Mike Jackness (11:01.898) Yeah, I mean, I think it all depends on how you're getting your sales and the size and weight of the product. Are you shipping individual orders from here to overseas via some of these lower cross programs or are you having to land inventory in an NOAA jurisdiction first? So I think that there's still quite a bit that remains to be kind of figured out because I think there are certain criteria which we're going to go over here next that I am looking for. Being able to expand internationally, I look at as a long-term thing. I don't look at that as month six, I need to go expand internationally. I look at that as in year six maybe, after I've hit saturation in the US and now I have enough of a war chest or my logistics and manufacturing has spun up to a point where it makes sense to where I can efficiently break into another country. logical choice, as you said, is geographically close. It's same language. There's a whole bunch of huge benefits. You can even get started by just shipping stuff across the border, onesie twosies at a time to customers versus having to get inventory landed to test things. It's much easier. And so, yeah, I think of that as a longer term thing. It's just one of those things where I think it's a natural thing for a business to hit a point where... your business or your SKUs have hit saturation in the US and you'd be looking to expand internationally. DJ (12:34.333) Yeah, interesting. I am totally with you where I think that is where the profit centers are in smaller markets and smaller marketplaces, even though the bulk of the sales may come from the United States and that justifies the orders. Ultimately, it's the smaller marketplaces and smaller markets, which really move the profit needle. So, okay, you talked about customization too, and I know you're talking about a few other things. I don't know if you want to riff on that for a minute Mike Jackness (12:55.806) Yeah. Mike Jackness (13:03.85) Well, let's go through criteria because I have a list. I'm prepared with a list of things. So my number one thing at the top of the list is margin. Right? It just the idea of buying something for $10 and selling it for 30. We've discussed this many times on the podcast. I think that those days are just completely like way long gone in the rearview mirror. DJ (13:06.081) Sure. Okay. Mike Jackness (13:29.262) And so I'm thinking in terms of buying for 10 and selling for 50 as like the absolute bottom line floor. And so, you know, what qualities and criteria of a product do you have to have to be in that ballpark are the things that I'm looking at. Yeah, go ahead. DJ (13:44.821) So before you move on to that, why are you looking for margin? Because I know it sounds like a silly question, but I am totally with you. And I think perhaps my revelation for why I'm looking for margin is my reason is probably one of your reasons too, but I bet you it's probably not your number one reason. So what's the number one reason why you're looking for margin? Mike Jackness (14:04.694) Well, I mean, for me, it's really just the ability to be able to advertise. You know, it's, uh, this, this is not a new thing just because I, I'm going to tell you the story from last week, but, uh, cause I've been talking about this for quite a while, but I was with a buddy of mine in Los Angeles, uh, last week. And I went to a wedding in Los Angeles. It was a great time. And I had to pick one person that I, uh, that I can go see cause I only had like a very limited time. I flew in and flew right back out. Uh, and so I just kind of. went down my list of who I hadn't seen the longest and went to go see him. And after we had lunch, he asked me to look at his Facebook ads account and just kind of give him some recommendations. I'm like, holy crap, dude, like you're spending so much on these ads. Like you can't, he was getting like a two X row as I'm like, you're getting just slaughtered. He's like, no, I'm not like I'm actually still making money with this. And I was like, holy crap, like what do you, you know, we still we got into like, what are you buying this for and blah, blah. God, what a refreshing change of mindset, right? Where you're just like, I can afford to spend this money on these ads in a world where that's gonna be more and more prominent. Like you think about where things came from when you and I first got started a decade ago to where they are now, to where they're gonna be going another decade from now. It isn't like less and less people are gonna be involved in e-commerce and there's gonna be... less and less social platforms or whatever other platforms are out there that we can't even imagine 10 years from now, ads are going to continue to be more and more competitive. It's all going to be moving electronic. Just can't imagine a world where that goes any different. We're not going to go back to print. We're not going back to newspapers or national television programs to be advertising. It's all going to be these micro-advertising experiences. having the ability to have a product that you can spend that much money on that appeals to a certain segment of the population because again, now you have to be having a high-end product, something that people emotionally fall in love with and are making a purchase based off of that versus just they've typed in something into a search bar in Amazon and just want to buy and solve a problem. And so... Mike Jackness (16:27.694) I think that margin really comes down to all that. It also, there's a bunch of ancillary things that I think are important. I mean, besides just letting you spend money on advertising, it allows you to have a longer, more longevity in your business, right? Like as costs continue to go up, which is always going to be the case. Like there's never been a year I'm like, ah, prices went down this year from my cost of goods or from my ad cost or from my platform cost or for shipping cost or... for my anything, right? Like insurance and electric, whatever. Like every year, everything goes up. There's inflation plus, you know, just platforms get better at extracting fees and Amazon's really good at that. You know, and so I think that you start with kind of the end in mind. It isn't like, oh, because I, obviously I'd love to have a product that I can buy for a dollar and sell for five years ago or whatever. But like. where things are going, I think that we're going to be talking about like, I'm going to buy something for a dollar and sell it for seven longer term. This is going to become a more and more difficult thing to overcome. I want to set the bar high now to allow me to have a business that three to five years from now, when I'm thinking about potentially selling it, there's still a healthy margin as things do erode. DJ (17:33.36) Yeah. DJ (17:54.097) Yeah, 100% agree with both of those. And I'll tell you why the other reason that has been my kind of epiphany over the last couple of years, when it comes to margin. Uh, so we have historically sold a lot of really expensive products. Let's say a thousand dollar rooftop tent. Uh, we'll buy it for 500. We sell it for a thousand. Let's say we make 10% on it and we make a hundred bucks on it. However, all our money is in that cogs and paying that six months before we actually sell it. We have to place the order and then. six months later, we sell the product and we get the money. However, if you're putting all your money into advertising, that's where your costs are, is that you're dependent on advertising. You pay that net 30, you don't pay it six months in advance. So the problem is when all of your costs are in cogs, instead of advertising and marketing, you're paying that six months in advance and it's a huge cashflow issue. And that's why almost all these companies that scale really quick, e-commerce brands that scale really quick, they have high margins, not because at the end of the mine where I have all my money tied up in cogs, it's because they're able to utilize their cash a lot more efficiently than I am because they're paying for their advertising marketing costs 30 days after they incur them, not six months before. And having all your money tied up in cogs and having this really tiny gross margin, even though your net margin might be the same as Mike's watch brand, it is just a total hindrance to being able to scale that company. It's one of the things I've realized. over the last couple of years is why all these companies that have these massive gross margins where they're buying for a dollar and selling for a hundred, while they're able to scale, even though at the end of the day, their marketing and advertising costs mean that their net margins are still the same as me. So that's been my big revelation on why I'm now looking like you might mention five X, but you know, even six and seven X. Mike Jackness (19:40.522) Yeah, and there's lots of things out there, shockingly, that do fall in that category. But you have to do more work. Right? I mean, there's nothing in that bucket that's easy, right? In terms of just sourcing it off of Alibaba and then turning it around. Not that I'm aware of, at least. It's things that require a little more work, which we'll talk about here in a minute, because that isn't the... The second biggest thing for me in terms of when I'm going down my list of things that like are must haves, if margin is number one, number two is the ability to sell more to the same customer. Like I find this to be incredibly high up the list and really, really important factor into whatever business I'm into next. Because again, as we just talked about, as ad costs continue to go up. and competition is going up, the ability to recover your sunk cost from getting that first sale needs to be able to be divided eventually across two, three, four, 10 plus sales. And so this is a very important factor for me. We do have repeat business for ice wraps. It isn't like it's zero, but I don't spend a lot of time email marketing or doing Again, Black Friday, Summer Monday sales or the types of things that a brand that has the ability to sell inherently more to the same customer does. Because if we do our job right, someone's buying our product once and never buying it again. And it's pretty rare for you to buy a health related product again for a friend or family. It's just not normal to like, you know, for Christmas or. for a birthday or whatever to give somebody an ankle ice wrap because you heard that their ankle was hurting because if their ankle is hurting, they're going to buy the thing right then and there. And so it does happen. And so the reason we have repeat business is that we're selling to other businesses. And we see this on our Amazon dashboard. We see this from our Shopify sales. It's the chiropractor office. It's the dentist office. It's the physical therapy office. We also sell customized packs. We're like literally it's those customers that are getting their name printed on these Mike Jackness (22:04.494) products that they then hand out almost as like a business card to have their repeat business of people coming back to the chiropractor or the dentist or the physical therapist. And so we do have repeat business there, but there's only so many of those companies out there and we're never going to get into hiring a salesperson and calling on these types of offices and trying to convince them to buy our products. It just isn't where my expertise is. And I don't think that… It makes tons of sense to try to do that. But what I'm thinking of is more in terms of what we have with Color It, where someone's using up a page or a gel pen or a pencil and they're actually consuming our products similar to a can of shaving cream or a razor blade every single time they use the product. And so, or if it is something that's giftable. So like they buy one. They... maybe it isn't consumable, but they might buy another one from themselves or another two or three from themselves, or they'll find themselves really liking the product. When it comes time for the holidays or for a gift, they're like, man, I enjoy this product so much I want to give it to somebody else. Whatever element that is, I don't really care exactly what the product is necessarily as long as it hits that criteria of I can get somebody to buy my products more than once. DJ (23:31.985) So high repeat rate. I hear two things that either means A on Amazon, subscribe and save or B off Amazon. Mike Jackness (23:40.37) Right. And it even can't be on Amazon. Like, I mean, Color products weren't subscribe and save, and people were buying them off Amazon more than once. Right? It's like they're looking, they're seeking out our brand or our other products, because they weren't buying the same exact product. But subscribe and save certainly would be great, you know, if you think about a food product or other products or whatever that makes sense in terms of subscribe and save. That certainly is, it certainly is an angle. All the other things that come with your building a brand, sinking money into building an email list, sinking money into YouTube or SEO, building out your Amazon store, brand story, talking to Amazon influencers, just having your stuff out there to where once you have a customer, they're going to love your products and type in your stuff and seek it out. Color it was and is a search term on Amazon. You'd be shocked at how many people were actually searching our brand name. Uh, and that's something that I think is, is really important because again, they, they might buy color at Mondalas version one and then go out and look for volume two or go look like, man, I really love this, this product. I'm going to go type in color at coloring book and go look for other titles that are, that are out there. And so while it might not fit in the subscribe and save thing, it's still fit in the, uh, the repeat business category. And so certainly, however, However that is, whether it's subscribe and save or they're seeking us out, I think is an important component. DJ (25:12.837) Yeah, I would have agreed with you two or three years ago. I think if you're not subscribed and saved now, the chances of any repeat customer on Amazon occurring is very, very small. So first off, even outside of on Amazon, somebody finding your product on Amazon and then going and buying through your website, like they might have a few years ago, I don't think that really happens anymore. Amazon has complete monopoly over people's purchase behavior where they're not going to buy from another website. It's just. You know, even when we ran anchoring.com and anchoring.com or 80% of our sales, that just can't exist today just because there's so much loyalty to Amazon. So the idea of that, somebody finding the product on Amazon, going to your website and buying probably unlikely. I also think. Mike Jackness (25:56.662) Well, I'm not suggesting they come that they I'm not trying to drive them off Amazon to our website I'm just trying to get them to buy more from Amazon DJ (26:02.529) Yeah. And I think even that trying to get people to buy more on Amazon, that is relying on branded search, even if you get it to occur, there's so much advertising noise on Amazon, that somebody filtering through all that and making their way to your Mike Jackness, uh, sweater page, really, really hard to do a lot harder to do nowadays than it was before. However, my mindset, again, maybe I'm completely wrong, but my mindset is that those two don't work, but the one area that does work incredibly well is subscribe and save because. You get that repeat purchase behavior happening over and over again. It's automatically added to the cart every three to four weeks or whatever interval they set and it's there basically forever. So that's my way of looking at it. If you can do subscribe and save for an item, man, you are golden. But other than that, it's tough on Amazon. I could be wrong. I'd love again, on the comments, if anybody has a business on Amazon that has a high repeat purchase rate, not in subscribing, say I'd love to hear about it. But that's my opinion, really hard, a lot harder now on Amazon than it used to be. Mike Jackness (27:04.106) Yeah, I think that one of the qualities that would exist here, it wasn't actually on my list, but it's certainly up there. It's actually funny that you brought this up, but something that would work well multi-platform, which is a unicorn in itself as well, because it's typically a product that's really well suited for Amazon or it's really well suited for DDC off Amazon via Shopify and Instagram or Facebook ads or whatever. There's a small subset of products that... DJ (27:17.249) Mm-hmm. Mike Jackness (27:33.27) that the Venn diagram overlaps. That would be another quality that I'm looking for as well. I mean, it wasn't specifically on my list, but it is an important quality, because then you have an ability to go after particular keywords in search on Amazon and have that business, and then also have an ability to do SEO. and have it go directly to your Shopify store, having the ability to do DTC ads, Facebook, Instagram, TikTok, et cetera, all the things that I find to be really fun. Maybe that has a lot to do with it. It's like, I want to have fun and enjoy what I'm doing, which is certainly an important component for me to be able to do that is really important. And so I think, it's an interesting way to articulate it different than what I was thinking, but certainly that would be another component that would be important to me where I sit down and go, man, like this product, will never do well on Amazon, I think that doesn't make a lot of sense. Or you get, you look at a product, this is only something that's going to do well on Amazon, it'd be very difficult to, like right now, that's kind of where we're at. We have a product that's difficult to sell off Amazon. They do sell, we sell them on our website, but SEO, et cetera, is not really a great long-term strategy. I mean, the brand that we just sold back this summer worked well on both platforms. We had expanded to Shopify. being almost a quarter of our business from starting at almost zero when we bought it. So I think that that's an important thing. So you're not platform handcuffed. I only picked three things to talk about today because I know we have a limited amount of time. And so that was not on my list, but very interesting nonetheless. DJ (29:17.221) Yeah. And I know it's not on your list, but actually you brought up a really good point there. More fun, more enjoyable to run. Not necessarily more profitable. So this is kind of for me too, is like I'm trying to imagine, okay, what's a business that I'm going to be really excited to run and tinker on a day-to-day basis. And the truth of it is, you know, a Shopify site, we can debate the pros and the cons of it from a profitability standpoint compared to Amazon all day long. Mike Jackness (29:38.688) Yep. DJ (29:46.173) The truth of it is, at least for me and probably for you too, Mike, it's a lot more fun to run. It's a lot more fun to tinker with your funnels and your landing pages. I'm like, how can I increase my conversion rate? Uh, 0.001% by, you know, affecting this email campaign. Um, it just allows you to scratch that marketer itching you a little bit more because Amazon is really product based and, uh, you know, uh, me and you are probably more marketing based and product based and Having a Shopify site is just a lot more fun for scratching that marketing itch that we get than Amazon profitability aside. Mike Jackness (30:22.686) Yeah, I mean, absolutely no doubt. I mean, I don't know. Like, I think a lot of it comes down to being able to interact with your customers, right? With Amazon, it really feels so isolated. They've made it more and more isolated. And I love when they put these polls up in their back end that we have to look at every day, because it just shows you how disconnected management and Amazon is every single day. We should make that the way that we open the podcast every week is just to make fun of the poll. in the back end of Amazon. Today's poll is when I appeal a listing suspension, Amazon responds in a timely manner. If they actually think that that's what happens, if they're expecting everybody to be like, I agree, strongly agree, they're fooling themselves. One of the questions that came up recently was like, I have the ability to interact with my customer. I was like, what do you mean my customer? You guys explicitly say that it's not my customer, it's your customer. Do not contact them under any uncertain circumstances. I don't know, I think that that's pretty funny and I do feel isolated from it. DJ (31:23.073) Well, I'm sure they do it because they know the answer is either going to be 1% or 5%. Like that actually grew that answer and they're looking at, yeah, we got 5% this week. So I'm sure that they're completely aware that those questions are going to result in overwhelmingly negative responses. So there must be some strategy behind why they do it, but it does feel a little toned every time you log into Amazon, you see these questions, which are just infuriating. And I know that data is probably valuable to them and they understand what kind of Mike Jackness (31:44.116) Yeah. DJ (31:53.141) Like it really is infuriating and that's totally an aside, but I'm with you Mike. Every time I log in there and I see these questions, it's like, dude, like just be a little bit more sensitive. Mike Jackness (31:55.083) Yeah. Mike Jackness (32:02.707) Yeah, yeah, I mean, I don't know. It's funny, but yeah, that definitely is a very, I don't know, I really got a lot of joy out of being able to interact and do that and feel connected to my customers, my tribe, my people, seeing how that was affecting them in a positive way. And that really is infectious and makes you want to go design and do more things. And so yeah, it's certainly something I would be looking for as well. DJ (32:28.449) Well, it's a good thing that customers never complain and never find your cell phone number on a six o'clock on a Saturday night by calling your three PL and then calling UPS to see if they can give you the phone number to the owner of EcomCrew LLC. But yeah, I think back to that. I totally agree with you, dealing with customers on a day-to-day basis. It's really nice when you get... Mike Jackness (32:40.648) Yeah. Yeah, well that's you, so. DJ (32:56.969) than 95% of them who have a positive experience, but there's always going to be somebody that gets their product that arrives late and it was like a Christmas gift and it shows up on December 26th, uh, completely out of your control. But still they find that number, your phone, personal phone number somehow if they're with the repel or some other mechanism. Um, and so definitely that part, I don't know if I'm with you on that one. Uh, looking forward to dealing with all customers cause I know the bag go with the good. Mike Jackness (32:59.682) Yeah. Mike Jackness (33:24.138) Yep. All right, so let me get my third thing out of the way here because we're already, we go over time every single time, but it's a fun conversation. And my list is quite a bit long on this, but these are just the top three things I had on my list. The last one here is some sort of a moat, right? And so, you know, whether I'm building a, depends on the size of the castle, the size of the moat or whatever, but you're just thinking through things of how difficult is it. to duplicate my business. And I want it to be as hard as possible for somebody to recreate what I do. And now that doesn't mean impossible because that's just ignorant. Everything can be copied. But I want it to be more difficult than the average person is willing to do. And more difficult than nine out of 10 people in fact are willing to do, right? And so... I know there will be other people that will be willing to do it, but I want it to be something that requires a sizable capital investment to get started, and so people stay away because of that. Maybe it's something that requires signing a lease or getting a warehouse for and having employees here and doing something, and that's the thing. Maybe it's something that has intellectual property or a patent, and that becomes the defense. Maybe it's something that has all three of those things, which would be... even more exciting. But certainly again, what I'm trying to prevent is the 7 billion people around the world that have access to these platforms from being able to do the exact same thing I'm doing with relative ease, which is the exact spot that I'm in right this second. Again, we have a brand that I bought in 2015 that luckily has had tremendous success and I bought this brand for $50,000. It will be a huge success story the day that we sell it. It's been our cash cow. But again, it doesn't mean that I want to continue to do this indefinitely, because the last year has been a struggle. It hasn't been a cash cow this last year. It's certainly getting more and more difficult. And so looking at what we have here, which is, again, zero defensibility. Anywhere in the world can go get these products and sell them against us. And Mike Jackness (35:49.238) They will struggle to start with because just making a nice listing and selling it for less doesn't really get you a whole lot of traction or get you anywhere. But over time, there will be people and things that stick. And we certainly have a lot of competitors out there now selling the exact same product. And realistically, it's just as good. You put it in the freezer, it gets cold. You throw it in the microwave, it gets hot. I don't have the same excitement about it as color. stand in traffic defending those products all day long because they were truly better. They were really great products that people really love and they were defensible. And so I had everything was a little extra property, it took a big investment. And so you mentioned customization earlier. That's certainly one of the things I've been looking at because if you're doing customization and being able to ship and get it there quickly, inherently you probably need to do that in the United States. There are some things that can be. DJ (36:46.094) Mm-hmm. Mike Jackness (36:47.746) customized abroad and then ship because there are some huge leaks in our system. It's crazy. You can ship stuff from China to the United States cheaper than just shipping from Nevada to Nevada. I was just at my buddy's house today. He does e-commerce stuff and he printed me out a label because it's cheaper than going to the post office. But a medium flat rate box is up to $14.75 now. It's crazy. I mean, and you can literally ship something from China to here. DJ (37:10.439) Yep. Mike Jackness (37:14.782) In something like five to seven days, we've had people on the podcast talking about this for less than that. There are customized things that you can ship from around the world, but I'm not talking about like trade show pens here or something that's just your run of the mill commodity customized stuff. I'm talking about something that has a little bit more uniqueness to it than that. There's a lot of things I've been looking at in that regard. Again, something that has some sort of emote where the complexity becomes the opportunity. And I am, you know, I've always been willing to work hard. I've been a hard worker my whole life. I feel like, you know, I've had a pretty easy the last few months. And so certainly it'd be easy to go back into, and we're settled here now, which is the other cool thing. I mean, we're just not going anywhere. And so having a warehouse and having people here to do that stuff would be, it'd be a good timing for us. And if that's what it took. And so, It'll make it more difficult for other people out there that are just getting started, the people that are listening to this that don't want to make those steps. But for me, again, I'm willing to do it. I think that it seems crazy to not do e-commerce. All the skills, again, are very applicable. I still want to be able to sell whatever these products are on Amazon. I still want to be able to launch that Shopify store and sell. sell on Shopify, I still want to be able to run Facebook ads, TikTok ads, Instagram ads, Google ads, do some SEO, do email marketing, and work with influencers and have all this ecosystem and things that I've worked really hard on to learn all these skill sets. It seems like nothing to me because you're learning a little bit at a time and it makes it feel like you haven't learned a whole lot. I never went to college for psychology, but there's like a term for this of where... You know, something seems easy because you're learning it one day at a time. But if you try to tell somebody that is just getting started, how to sell their products online, and you had to like verbally tell them this, you know, almost like you had a podcast telling people about this. I mean, you'd be there for weeks and months and years, like verbally trying to exhaust what you have in your head to somebody. DJ (39:17.17) Almost like you had a podcast. DJ (39:28.469) you would be on episode 525. Mike Jackness (39:31.466) which I think this might be exactly episode 525, or it's very close to it. And so, you know, I think there's a lot to be said for that. I mean, we have 10,000 hours in podcasting. So, yeah, I mean, it's something that I've definitely put a lot of thought into, and I want to be able to kind of have my magnum opus e-commerce brand, which will... Now, here's the hard part is that I'm kind of committed to this one thing strategy right now. And so... I cannot start doing that until this current thing is complete. And it has been tough. It's been tougher to get out of bed than it has been in a long time and work on the stuff I have to work on because it's not exciting. I mean, it really is not the fun stuff, but it has to get done. DJ (40:22.697) Amen. All right. So that's your idea for a business. Not going to happen for until you can finish this one thing. And then you're going to find this unicorn of a high margin, high repeat customer, big moat business. And then you're going to partner with me on it. Mike Jackness (40:37.01) I don't think it's a unicorn. Yeah, well, I mean, I need someone to help me sell in Canada. I don't think it's a unicorn. You know, I really don't. There's a lot of things that I've been looking at. I don't necessarily know that I want to mention them all here on the podcast right this second, but there's a lot of things. I mean, there really is a lot of… There are hundreds of different types of products and ideas. DJ (40:44.481) Sorry. Mike Jackness (41:06.518) that can be done. Now, I guess it is a unicorn when you figure that there's probably a billion freaking products online. Like literally, I think that's probably not an exaggerated number. And so we're talking about hundreds or thousands into a billion, okay, maybe it is a unicorn from that perspective. But it's not like the true unicorn of like, there's only one. Like I think that there's a lot of things that fit this criteria. What doesn't fit this criteria is just the, I'm going to again, DJ (41:12.904) Yep. Mike Jackness (41:37.034) just be a faceless, mindless reseller of products on the internet, which is getting close to max saturation. DJ (41:45.949) Yeah. And I poke fun at you because it sounds like you've described a unicorn, but the truth of it is basically what you're saying is that you want a business with, uh, more margins to support higher advertising costs, uh, and more margin probably to support a little bit of customization, a manual input locally. Uh, and that kind of leads back to your higher margin part, not because necessarily your net margins at the end of the day are going to be any higher than the business that you have now. It's just going to be a little bit more of a, uh, of a different rejiggering of where those costs occur, which Ultimately, we'll give you more defense build. Mike Jackness (42:20.002) Cool, well we have hit the 42 minute mark of this podcast so we're already way over our target as I mentioned but hopefully this gives people some things to think about as we're ending 2023 heading into 2024 which is crazy. It's another year it's gone by. quickly so it's getting close time for our top episodes, episodes and what we're thinking about doing in 2024. It's crazy this is all happening and time to take the year end break and vacation. So we will probably not have an episode here that last week of the year just to because most people are out in some outer space spot. But yeah, getting close to wrapping up another year. It's crazy. DJ (43:01.089) Cool, well, we will chat in the next one whenever that is. Mike Jackness (43:04.342) Whenever that is. All right, until that one everybody, happy selling. We'll talk to you soon.
Today, I’m thrilled to have a regular back on the show, Mike Jackness. Mike is the founder of Ecom Crew and he owns many e-commerce brands. But out of all his companies, we just happen to own one together. In this episode, we give you all the details about our recent exit and sale. What You’ll Learn The details of our recent company exit The future of e commerce and AI Why Mike sold a number of his brands and laid off his team Other Resources And Books EcomCrew Sponsors SellersSummit.com – The Sellers Summit is the ecommerce conference that […] The post 506: Insider Details About Our Recent Company Exit With Mike Jackness appeared first on MyWifeQuitHerJob.com.
I just returned from Las Vegas where I got to speak in front of 1300 people at the Alibaba CoCreate Conference. And what’s cool is that I was able to meet up in person with my good friend Mike Jackness and my business partner, Toni Herrbach. In this episode, we discuss the future of e-commerce in the face of AI and other changes in the industry. What You’ll Learn Where the cheese is moving in the ecommerce industry How artificial intelligence will fundamentally change ecommerce How the sourcing landscape is changing Other Resources And Books Ecom Crew Sponsors EmergeCounsel.com – […] The post 491: The Future Of Ecommerce In The Face Of AI And Other Changes With Mike Jackness And Toni Herrbach appeared first on MyWifeQuitHerJob.com.
Welcome to another insightful episode of the Sellernomics Podcast! In this edition, we are joined by the brilliant Mike Jackness, co-founder of EcomCrew, as he delves into the world of mastering email marketing to supercharge your external traffic. Are you an e-commerce enthusiast looking to skyrocket your business growth? Mike Jackness is here to unravel the secrets of leveraging email marketing to boost your external traffic like never before. From building a responsive email list to crafting compelling campaigns, Mike shares invaluable strategies honed from years of experience. Tune in as we explore the power of email marketing in driving more potential customers to your online store. Don't miss out on this opportunity to learn from the best in the e-commerce game. #MikeJackness #EcomCrew
With the recent sale in the rear view mirror, Mike talks about the plans he has for the future and what business he's thinking of getting into next to focus 100% of his attention on. Today, Dave and I are diving into some events this year that have led to me ultimately choosing to let go of all my brands. We discussed a little bit on the last podcast episode, but Dave and I also discuss the rest of my plans for the future and moving towards embodying The One Thing. Here's a few specific questions that Dave tossed out: Were your other businesses being negatively impacted while you were a CEO for this previous project? What's the maximum amount of businesses should a person have while giving a reasonable amount of attention to? What's the next business for Mike? Timestamps: 00:00 - Introduction 01:35 - Reflecting on the recent sale of our business 03:09 - Lessons learned and evaluating decisions 09:21 - Balancing multiple projects and finding focus 20:54 - The Benefits and Challenges of Multiple E-commerce Brands 22:19 - Focusing on a Single E-commerce Brand 25:44 - The Decision to Sell Off Brands and Find the One Thing to Focus On 27:24 - Vision for the Future and Buying a Business 33:04 - Reflecting on the Frustration of Selling the Previous Business 36:44 - Changing Business Landscape 39:11 - Excitement for a New Business Venture So stay tuned, as we continue to explore this ever-evolving industry together! I hope you took away some valuable insights from this episode that you can use to sort out your business goals for this year. Don't forget to leave us a review on iTunes if you enjoy our content. Happy selling and I'll see you on the next one!
Mike Jackness talks to Chris Duty of Quiet Light Brokerage to dive into the challenges that they faced when trying to sell one of Mike's most recent business acquisitions, and the string of bad luck that Mike faced along the way. After 3 years, I'm glad to announce that I've sold one of my businesses. Joining me today is the broker that helped me with the transition, Chris Duty from Quiet Light Brokerage. Chris and I explore the process of selling a business that I, alongside investors from ECF Capital, acquired in late 2020, and what transpired along the way (which includes some unfortunate events). One of the key takeaways from this episode is that the process isn't over until it's over. Some roadblocks might pop up along the way, but it's always important to move onto the next step until the whole process is complete. If you're considering on selling your business, or if you want to hear the fun (or unlucky) details of my journey in trying to sell this business, today's episode is definitely one to save. Here's today's main points 00:00 - Introduction 01:50 - Ground rules of today's discussion 03:04 - The backstory of our sale 08:39 - Today's main takeaway: It's not done until it's done. 14:41 - How Chris approaches a business sale 16:28 - Building trust and credibility with buyers 24:18 - Tax returns and SBA pre-qualification 31:05 -The impact of having your priorities in order 33:43 - Finding the right buyer who recognizes the long-term value of the business 42:38 - The importance of early preparation for selling your business We hope today's episode was useful to you. If you want to get in touch with Chris you can find him at Linkedin or you can check out the company at QuietLight.com. If you want to check out how Mike planned to grow this ecommerce business back in 2021, you can check it out here. If you have any questions or anything you'd like us to discuss on the podcast, you can now email us directly at support@ecomcrew.com! Also, we would really appreciate it if you would leave us a review on iTunes. Thanks for listening!
Nirav Sheth and Mike Jackness dive into Conversion Rate Optimization (CRO) strategies. Our guest, the founder and CEO of Anata, sheds light on the significance of CRO and its optimal timing for business enhancement. We focus on often overlooked aspects of e-commerce management, highlighting the importance of a user-friendly checkout experience, the influence of distractions on mobile users, and the role of data-driven decision-making in e-commerce. Additionally, the episode uncovers the power of influencer-led channels, effective landing page optimization, and the psychology behind podcast advertising. Nirav provides his expert take on traditional CRO and why more impactful, focused testing could yield better results than a high volume of minor ones. Timestamps: 00:25 - Introduction 01:41 - Embracing Best Practices for CRO 07:50 - Ensuring a User-friendly Checkout System 09:56 - Comprehending Mobile User Behavior 11:22 - The Role of Usability Testing 14:47 - Understanding E-commerce Benchmarks 19:18 - Exploring Conversion Rates in E-commerce 20:31 - Harnessing the Potential of Influencer-led Channels 27:41 - The Limitations of Traditional CRO 31:49 - The Impact of AI and Personalization on CRO I wanna thank Nirav for the value-packed conversation today, and we'll definitely employ the tactics learned in our own businesses. If you want to get featured on an Under the Hood segment, be sure to head over to ecomcrew.com/underthehood to sign up. We're excited to hear about your ecommerce journey! Speaking of ecommerce journey, Dave and I would not have gotten this far without all the help from the amazing people we met along the way. Don't forget to leave us a review over on iTunes if you enjoyed this episode. Until the next one, happy selling!
With Seller Summit 2023 coming up in May, Mike and Steve Chou reflect on the value of events, revisit some of their favorite memories, and how its impacted their lives in more ways than one. Masterminds are one of my favorite segments of a live event. Whether it be EcommerceFuel, Seller Summit, or whatever event that takes place, Masterminds give everyone an opportunity to voice out their problems and get actionable advice from a like-minded group of people. Steve and I first met during Andrew Youderian's event, at a Mastermind where Steve asked the table for a critique of his website, and we've been friends ever since then. This episode is more of a fun recap rather than an actionable advisory, but there's a few takeaways to learn from this episode. You'll learn about The costs of cranking up, and keeping your work burner as high as possible. How opening up and trusting like-minded individuals can be more valuable than you think. Why it's good to have a group of friends that can't relate to your entrepreneurial lifestyle. Timestamps: Intro - 00:00 An overview of what Seller Summit is, and how it's different - 2:42 How Mike and Steve Chou met for the first time - 5:06 TAKEAWAY #1: Masterminds give you the advice you need to hear, without the fluff - 7:33 How Steve Chou got into selling on Amazon - 9:58 How Steve Chou got marital advice at a Mastermind - 12:22 How Steve Chou saved Mike's marriage - 14:08 How Steve Chou made $60k in 90 minutes - 18:03 How Mike deals with old friends who aren't in eCommerce - 20:51 Why venture backed businesses are a different gamble - 23:40 Steve and Mike's experience investing on an eCommerce business together - 25:15 Why it's important to surround yourselves around those who trust you - 27:55 How events during the pandemic weren't the same - 33:55 Seller Summit 2023 details - 36:08 Lots of thanks to Steve for doing this episode with me. If you're thinking about going to Seller Summit, here's a link with a special discount code for Ecomcrew listeners. You can check out all of Steve's other awesome stuff over on mywifequitherjob.com. If you enjoyed this episode, don't forget to leave us a review on iTunes. Until the next one. Happy selling!
Join Kevin and Mike as he shares key lessons and experiences from his successful businesses, his journey in e-commerce, and his life outside of entrepreneurship.
Today I have my friend Mike Jackness back on the show to talk about a sensitive topic that is rarely discussed. Can successful entrepreneurs live a balanced life? Do you have to make sacrifices in order to make money in business? In this episode, we discuss the brutal truth about success and the curse that all entrepreneurs have. Enjoy! What You’ll Learn The brutal truth about success in business The secret weapon for entrepreneurs to live a balanced life The curse that all of the successful entrepreneurs have Other Resources And Books EcomCrew Sponsors Postscript.io – Postscript.io is the SMS […] The post 432: The Curse That All Successful Entrepreneurs Have With Mike Jackness appeared first on MyWifeQuitHerJob.com.
Fabricio Miranda is the CEO & Co-Founder of Flieber, Inc. He has been an entrepreneur since he was 26 years old. Flieber is the 7th company that he founded or joined in the very early stage. Fabricio loves building businesses from the ground up. He is obsessed with the revolution that retail is undergoing, especially in the supply-chain space. He is an eternal optimist and I can't wait for the amazing future ahead! Here's a glimpse of what you'll learn:Fabricio Miranda talks about relocating to the US as a business decisionFabricio explains how he entered the online retail industry as an entrepreneurThe preset and future vision of Fabricio for the Ecomm spaceFabricio shares the lesson he learned from his biggest mistakeTool versus people to operate, grow and scale a businessIn this episode…Fabricio Miranda shares his journey as an entrepreneur since age 26. He talks about the difference of a business that is boostrapped from one where he had to consider his investors. Her further shares some views on your persona as an entrepreneur and his take on technology helping people focus on what matters instead of them replacing their jobs.Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Fabricio Miranda, Founder and CEO of Flieber to discuss how they were able to make available the sophisticated tools big companies are using to small and medium sized businesses. Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedInFabricio Miranda on LinkedInFlieberDarron Burke on What Do You Do Next? Misha Beatty on What Do You Do Next?Mike Jackness on What Do You Do Next? Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. We provide essential Amazon and NetSuite service solutions for brand growth. Seller Universe Ecommerce Group provides essential service solutions for brand growth and scale. We position brands for success through cost-effective growth initiatives and operational efficiencies. Our synchronized approach allows brands to dominate in today's complex, multiplatform ecommerce marketplace and ecosystem.Our team at Seller Universe not only helps your brand on Amazon but we also do Netsuite implementation and anything that gives you a headache around inventory management.To learn more about what we can do for you and your brand, visit At HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
James Dihardjo is a hands-on entrepreneur who personally connects and onboards clients for Merchant Spring. A living example that there are no prerequisite to success but hardwork, determination, focus and planning. His passion for their tool springs from his passion to give back to the customers who has been so supportive of their tool even early on. Here's a glimpse of what you'll learn:James Dihadjo talks about the life of a Saas founderScaling the Saas business over the service provider businessJame explains the process over turning a concept into an actual viable productInsights on combating attrition James talks about what Merchant Spring can help business owners with What makes Merchant Spring standoutJames acknowledges the role customers played to Merhcant Springs continuous growth In this episode…If you have the idea and a good partner then nothing is impossible. James Dihardjo has always been fascinated by softwares. Being in a service industry opened his eyes to the opportunity of a Saas venture that will help Ecommerce business owners manage their stores without hassle. Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with James Dihardjo, Co-founder of Merchant Spring, to discuss how a tool can grant you access to multiple Ecommerce business in the easiest way possible. Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn James Dihardjo on LinkedInMerchant SpringCory Pinegar of LinkedInTeemReachMisha Beatty on What Do You Do Next?Mike Jackness on What Do You Do Next? Darron Burke on What Do You Do Next?Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. We provide essential Amazon and NetSuite service solutions for brand growth. Seller Universe Ecommerce Group provides essential service solutions for brand growth and scale. We position brands for success through cost-effective growth initiatives and operational efficiencies. Our synchronized approach allows brands to dominate in today's complex, multiplatform ecommerce marketplace and ecosystem.Our team at Seller Universe not only helps your brand on AmAt HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
His exposure to the world of business and enterpreneurship at a very young age helped Cory see and cease business opportunities presented to him.Taking his chance on a $1 business despite his dad's unfavorable forecast of it's success led to the growth of two businesses, both believing in the power of giving chances and evolution to remain current and relevant. A degree from BYU, his dad's entrepreneurial expertise and his natural hunger to find something to grow and meet a current need made the man Cory is now. Here's a glimpse of what you'll learn:Cory Pinegar shares his journey as a solopreneur and what he learned along the wayWhat does it mean to lead from the frontWhy is empathy an important skill to have as an entrepreneurCory explains Call Force and Teem What are the top 3 industries his company servicesCory believes that location is not the basis of someone's efficiencyIn this episode…Is there a one size fits all kind of leadership that will scale a brand to success? Cory Pinegar was inspired by his dad's emphasis on empathy in leading people. Though he was not directly taught by him, Cory picked up on his style and made it his own. Though there were some tough decisions to make in order to pursue growing a business, Cory kept at it and never once forgot that it takes a team.Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Cory Pinegar, Founder of Teem, to discuss how authenticity will drive the growth of a company and how it can open new perspectives in deciding for the right hire to fill a seat.Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn Cory Pinegar on LinkedInBrett Pinegar on LinkedInConner Ludlow on LinkedInPam Keys on LinkedInTeemReach Darron Burke on What Do You Do Next? Misha Beatty on What Do You Do Next?Darron Burke on What Do You Do Next?Mike Jackness on What Do You Do Next? Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. We provide essential Amazon and NetSuite serviAt HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
Emmet was influenced by his dad to get into the numbers and data industry. His experience in banking, tech and startup helped in building the Fortia Group.He moved to become Eagle Alpha's executive chairman to focus on Fortia Group's growth.His refreshing view on the M&A industry is will help a lot of buyer and sellers alike have the best possible exit on the the eCommerce space.Here's a glimpse of what you'll learn:Emmet Kilduff shares what made him passionate in pursuing his carreer.He compares the difference in perspective between North America and Europe when it comes to business failureThe origin and growth of Fortia GroupEmmet gives an advice to help brands position themselves for acquisition in the current market conditionWhat makes Fortia different and where it is headed in the future In this episode…Preparation is the key to have a successful exit.Emmet Kilduff as someone who has seen failure in one of his ventures, the wisdom he has gained helped in his view on the challenges in the Ecommerce and the M&A industry. He also gives some outstanding advise on how to thrive despite the market conditions.Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Emmet Kilduff, Co-Founder & CEO at The Fortia Group, to discuss how to increases the chances of being acquired as a brand. Along with this he will explain Fortia Group's exit strategy that allows them to be a step ahead from their competitors. He will also try to give a forecast of the economy and how it will relate to brands. Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn Emmet Kilduff on LinkedInPaul Hanley on LinkedInFortia GroupExit Guide for Amazon FBAsEagle AlphaThe single biggest reason why start-ups succeed (Bill Gross)Misha Beatty on What Do You Do Next?Mike Jackness on What Do You Do Next? Darron Burke on What Do You Do Next?Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. We provide essential Amazon and NetSuite service solutions for brand growth. Seller Universe EAt HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
Jon is a successful entrepreneur, Amazon thought leader and also a realist. Before starting his own business, he spent 15 years working as an account director & strategist for some of the top digital agencies in ohannesburg, London, and Los Angeles.He began his entrepreneurial journey in 2014 when he launched multiple private label brands on Amazon--all successfully. Inspired by this success and the new flexible, restriction-free, and limitless lifestyle that came with it, he co-founded ZonGuru with Adam Hudson of Reliable Education. ZonGuru is an Amazon FBA tool suite to help more sellers achieve the same.Here's a glimpse of what you'll learn:Jon talks about his introduction to the world of advertising, marketing, and eCommerceJon explains what Zonguru's originHow to create a scalable business on Amazon The turning point of Zonguru that lead to its growth Jon shares how he onboarded Stefan Strong belief on incentivizing employeesLightning round with Jon on some of Zonguru's key featuresJon shares his biggest mistake and proudest moments as an entrepreneurIn this episode…Are you trying to find some inspiration to scale your Amazon business or get your start up on it's legs? Jon Tilley started out in the advertising world, but with the right connections found himself being drawn to the world of Amazon. In an industry where leading softwares has been utilized by Amazon sellers to scale their business Jon pushed forward and found Zonguru a spot to shine in the sun.Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Jon Tilley, CEO of Zonguru, to discuss scaling an Amazon business and learning from mistakes to give their brand a better leverage for brand awareness and how being positive will always lead you to achieve your goals. Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn Jon Tilley on LinkedInZonguruAmazon Seller Insight PodcastMisha Beatty on What Do You Do Next?Mike Jackness on What Do You Do Next? Darron Burke on What Do You Do Next?Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. We provide essential Amazon and NetSuite service solutions for brand growth. Seller Universe Ecommerce Group provides essential service solutions for brand growth and scale. We position brands for success through cost-At HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
Oleh Pylyp is an excellent business development manager at Inverita. He understands the needs of software development and works very well. He joined the Eprenz.com conference for entrepreneurs and asked good questions that led to one of the best solutions possible. Oleh lived in Ukraine for 22 years and helped people who are in need, especially during the war in Ukraine. Now he is in the US with his fiance whom he dated for two years, to pursue education and become a good businessman, as he believes that when you build a good company, you share a big impact in the society. Here's a glimpse of what you'll learn:Oleh Pylyp talks about how communication in a company is very importantWhat are the options when you want to develop software?Oleh explained the things people did not consider when developing an appHow long does it take to develop an app and what are the costs that are involved and when can you typically start seeing a return on your investment?How fulfilling to create a software that will help for betterment of the world, especially helping child obesityOleh shared his testimony on how he overcame the struggles during the war of UkraineHow Oleh established a connection even with start up companiesIn this episode…Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn InveritaInverita on LinkedInOleh Pylyp on LinkedInBook FaceNick Penev on LinkedInHello TaxGrant Cardone Grant Cardone on YouTubeMisha Beatty on What Do You Do Next?Brian Nwokedi on What Do You Do Next? Mike Jackness on What Do You Do Next? Sponsor for this episode:This episode is brought to you by Seller Universe Ecommerce Group. The Future Is FreelanceThis show is for freelancers, sole traders, solopreneurs, digital nomads, consultants,...Listen on: Apple Podcasts SpotifyAt HireTeam, we understand the enormous amount of time it takes to place job ads, respond to applicants, and complete the tedious screening process. That's why we created this unique Hiring and Recruiting Platform. It is designed to completely change the applicant experience and give your team their precious time back to focus on daily operations.Email: ronnie@hireteam.coWebsite: https://hireteam.co/
Perhaps there's no more important aspect of sourcing than communication with your suppliers. Good or even great communication can not only lead to great opportunities but also increase the efficiency of your sourcing process. On this episode, host Mike Jackness speaks with Jordan West, CEO at Keep Nature Wild, Founder and CEO of upGrowth Commerce, and Co-Owner of Little and Lively Clothing. They discuss:- 3:27 Why high customer lifetime value matters. - 6:54 Why sourcing from Alibaba.com is safe. - 12:21 Why you should always consider communicating with suppliers on the Alibaba.com platform. - 16:24 Why it's important to always have a backup plan. You'll also hear Jordan share the particular challenges of sourcing for his business in Canada.If you enjoyed today's show, please leave a 5-star review. For more information visit Alibaba.com buyer central at https://buyer.alibaba.com/
The new world of post-pandemic work offers businesses all sorts of options to expand and grow. On this episode, host Mike Jackness speaks with , Serial Entrepreneur. They discuss: - 8:55 Values and skills of great employees.- 17:39 How...
The new world of post-pandemic work offers businesses all sorts of options to expand and grow. On this episode, host Mike Jackness speaks with Dave Kerpen, Serial Entrepreneur. They discuss: - 8:55 Values and skills of great employees.- 17:39 How the new world of work is shaping up.- 28:13 The role of courage in innovating.- 32:57 The competitive advantage of mastering fear when it comes to embracing change.- 34:34 Why you shouldn't only choose price when picking a supplier. You'll also hear Mike jump in and share his perspective on the pricing question.If you enjoyed today's show, please leave a 5-star review. For more information visit Alibaba.com buyer central at https://buyer.alibaba.com/
California-based cognitive scientist Leo Trottier is a unique blend of cognitive scientist, software engineer, product designer, and entrepreneur. His knowledge and connection led to creating a software that helps dogs and cats communicate through sound buttons to express themselves.He is founder and CEO of CleverPet, that launched Fluent Pet, a now becoming popular pet kit in the marketplace.Here's a glimpse of what you'll learn:Leo shares his background that stirred his interest to the pet tech space Tips on how to launch a brand from a great ideaLeo explains how he was able to bring FluentPet into the marketCOVID's positive effect to the brand's growthBranching out and joining the Amazon game for brand awareness and governanceLeo advises to follow your gut to avoid any issues in the futureInsight into the pet tech industry from a pioneerIn this episode…Your expertise in a certain subject matter can lead you to innovate something that will make a difference in a space not yet explored by a lot of people.Leo Trottier began got his interest when a speech pathologist trained her dog to talk. Though he wasn't able to collaborate with her, TikTok and Facebook helped him connect to the right people that skyrocketed the popularity and success of his automated mass produced, dog and cat interaction and training software. Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Leo Trottieer, Founder of CleverPet/FluentPet, to discuss how to become a successful start up in the pet tech space and their new program that aims to train kids in become junior teachers for dogs and cats.Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn Leo Trottier on LinkedInChristina Hunger on LinkedInAn Interview with Alexis DevineFluentPet Junior Teacher ProgramMisha Beatty on What Do You Do Next?Brian Nwokedi on What Do You Do Next? Mike Jackness on What Do You Do Next? This Is The DayA podcast about moving forward with your dreams, being brave and making big things...Listen on: Apple Podcasts Spotify The Personal Finance PodcastSubscribe now and Master Your Money in Less than 30 Minutes Per Week! Listen on: Apple Podcasts Spotify
The pandemic accelerated changes that were already happening across buying channels and supply chains. More and more buyers are expecting a seamless experience when dealing with suppliers and, increasingly, companies are taking a customer-centric approach to their ecommerce strategy. On this episode, host Mike Jackness speaks with Brian Beck, B2B Ecommerce Expert Advisor & Author at Beck Ecommerce. Brian has been in ecommerce since 1999, both as a business owner and executive. He has also gone on to be an influential thought leader and author in the space. Mike and Brian discuss some interesting topics on the subject, including: - 5:02 Why a B2C experience is now expected even in B2B situations- 7:57 Are physical sales relationships dead?- 17:58 Why 65% of consumers trust a marketplace enough to buy from an unknown brand- 20:14 How efficiency is most important for B2B buying You'll also hear Brian talk about why it's important for companies to use digital tools to streamline their workflow. If you enjoyed today's show, please leave a 5-Star review. For more information visit Alibaba.com buyer central at https://buyer.alibaba.com/
We speak with two Amazon experts, Mike Jackness and Mina Elias, to share all their latest hacks and strategies that have helped them and others to sell millions on Amazon.
Should you build a brand from scratch? Or buy an existing brand and apply your genius to scale or improve it? Mike Jackness is one of my favorite eCommerce pros to talk to. He's a podcast host. He's built, bought, and sold multiple brands. And he has a heart to teach.He's currently running a successful eComm brand that I'm an investor in, and it's in the process of selling. We wanted to hop on the podcast and talk about the process plus the pros and cons of buying vs. selling. Here's a look at what we cover: What you're actually buying when you buy an existing business. How Mike looks at brands, he wants to buy or invest in. How to approach due diligence as a buyer or a seller. Surprises to look for in the due diligence process as a buyer or a seller. How getting your business ready to sell now will make your business better regardless of if you sell it or not. The good, the bad, and the ugly of M&A. Plus more!
Rachel Lambo is a Toronto native who was motivated to start Sade Baron because of her mother and having a passion to be an entrepreneur.Rachel is extremely knowledgeable, versatile and detail-oriented, always coming up with out-of-the-box ideas that help her client's businesses stand out. Having worked for various small and medium sized companies, she took all that she learned and improved her skill set to establish her mom's dream business. Here's a glimpse of what you'll learn:Rachel Lambo talks about how she started with her marketing career and the work she did for Shoppers Drug Mart, Subaru and KellogsRachel shares how Sade Baron was birthed through her momWhat are the three things to do in starting your own brandRachel explains the milestones and pitfalls in scaling a skin care businessRachel shares how her mentors helped the progress of Sade BaronTo rebrand, the right angel investor is essentialIn this episode…Are you a skincare brand wanting to find your spot in the Amazon marketplace? Or Have you been running your business as a one man show lately? Rachel Lambo, started Sade Baron to encourage the entrepreneurial fire in her mom. In a world were race and color can be a factor for your business' success, Sade Baron pushed through. With the desire to come up with a d to c brand that will give customers nothing but the best, Sade Baron has niched down to target skin conditions to let people know it's okay to not have sexy skin while going through these conditions and Sade Baron is here to help.. Join Martin Zerrudo on this episode of What Do You Do Next?, as he sits down with Rachel Lambo, Co-founder of Sade Baron, to discuss producing and scaling a brand with a quality product. Sade talks about her mom's passion and how it led to the birth of the brand. Resources mentioned in this episode:Seller Universe Ecommerce GroupMartin Zerrudo on LinkedIn Rachel Lambo on LinkedInSade Baron Shoppers Drug MartScott Sassa on LinkedInMisha Beatty on What Do You Do Next?Brian Nwokedi on What Do You Do Next? Mike Jackness on What Do You Do Next? This Is The DayA podcast about moving forward with your dreams, being brave and making big things...Listen on: Apple Podcasts Spotify The Personal Finance PodcastSubscribe now and Master Your Money in Less than 30 Minutes Per Week! Listen on: Apple Podcasts Spotify
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 InventoryWhat e-commerce sellers should know about storage feesMike was once against taking debt to buy inventoryWhat changed his mind?[09:53 - 19:38] Risk Profiles of EntrepreneursPersonal risk profiles also matter in e-commerce businessesIs there a business that is worth the stress?Listen to our conversationThe different kinds of entrepreneurs according to Mike[19:39 - 27:07] Community-Building in E-CommerceMike talks about his podcast, The Ecomcrew Ecommerce PodcastWhat 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 belowFinal wordsTweetable 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 JacknessResources mentioned:Jungle Scout™SplitlyHelium 10Book: TractionEmail michael@protosmarketing.com to connect with Mike or follow him on LinkedIn. Visit Protos Marketing now for your Amazon-related marketing needs!------------------------------------------------------------------------------------------Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!
Episode 119Mike 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. Listen to Mike and learn from an e-commerce superstar![00:01 - 06:07] Opening SegmentWhy Mike Jackness chose a career in e-commerce[06:08 - 16:16] Transition from Corporate America to E-CommerceAre you working in corporate America but planning to jump to e-commerce?Here's an important tip about profit margins that you should hearIf the cost of acquiring a product has increased, this is what you should do[16:17 - 26:19] Pay-Per-Click Advertising ModelWhat e-commerce sellers should know about pay-per-click advertisingHow adding a lot of negative keywords made Mike's business profitable[26:20 - 36:39] E-Commerce InventoryThe Total Advertising Cost of Sale or TACOS is another major considerationWe have an interesting conversation about inventory that you should not miss[36:40 - 46:33] Buying InventoryWant some Amazon refunds? Check out GetidaPromo code: FTM400What e-commerce sellers should know about storage feesMike was once against taking debt to buy inventory[46:34 - 56:12] Risk Profiles of EntrepreneursPersonal risk profiles also matter in e-commerce businessesThe different kinds of entrepreneurs according to Mike[56:13 - 01:03:17] Community-Building in E-CommerceMike talks about his podcast, The Ecomcrew Ecommerce PodcastWhat is it like to build a community of likeminded e-commerce entrepreneurs?[01:03:18 - 01:08:38] Closing Segment Know more about Mike in the Fire Round!Connect with Mike!Links belowFinal words Tweetable Quotes:“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“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 JacknessResources mentioned:Jungle Scout™Helium 10Book: TractionEmail michael@protosmarketing.com to connect with Mike or follow him on LinkedIn. Visit Protos Marketing now for your Amazon-related marketing needs!------------------------------------------------------------------------------------------Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramEmail us --> support@firingtheman.comLEAVE US A REVIEW!
Learn the basics of content-first approach from Mike Jackness. In this episode, he shares in a no holds barred talk a walkthrough of his latest soon-to- aunch project that is content-first approached. Listen in and decide for yourself if this approach is right for you and would probably help you have more efficient direction for your new PL. In This Episode: [00:25] Welcoming Mike Jackness on the show. [05:20] The QR code [09:05] What does Content First Approach mean? [13:10] Timeline you should be looking at before getting the result. [21:30] Buying a domain for 80K, is it worth it? [29:00] Why needing.com [31:00] Market for domain names. [34:40] Additional content. [41:49] Choosing the type of content. Guest Links and References: Ecomcrew Podcast: https://www.ecomcrew.com/category/ecom-crew-podcast/ Ecomcrew Secret Sauce : https://my.ecomcrew.com/secret-sauce-bundle Book References: Traction by Gino Wickman Links and References: Wizards of Amazon: https://www.wizardsofecom.com/ Wizards of Amazon Courses: https://wizardsofamazon.mykajabi.com/a/27566/x6Kwkz6p Wizards of Amazon Meetup: https://www.meetup.com/South-Florida-FBA/ Wizards of Amazon on Facebook: https://www.facebook.com/groups/WizardsofAmazon/ Wizards of Amazon on Instagram: https://www.instagram.com/wizardsofecom/
On today's lunch with Norm, we look at how to launch on Amazon WITHOUT rebates & giveaways with Michael Jackness. In this episode, learn how to set up a product launch in 2022 and how much time & money is required. Also learn what common mistakes people make when launching their products. Mike Jackness is a serial entrepreneur who quit his day job in 2004 to do content and affiliate marketing. Mike jumped into eCommerce in 2012 when he purchased treadmill.com as a parked domain and developed it into a 7-figure eCommerce property. Since then Mike has purchased or started 4 new eCommerce brands and sold 2 of them for 7-figures each. He blogs and podcasts about the entire journey at EcomCrew along the way. This episode is brought to you by Startup Club Startup Club is the largest club on Clubhouse supporting the Startup ecosystem. Startup Club offers an exciting sense of belonging to established and aspiring entrepreneurs, startup businesses, and companies wanting to Learn, Connect, and Grow. Join us for conversations with founders, entrepreneurs, angel investors, venture capitalists, subject matter experts, and more.For More information visit https://Startup.club This episode is also brought to you by Sellerise. Take a deep dive into your business processes to make data-driven decisions and outperform the competition in an innovative way. Sellerise is a comprehensive solution for your everyday business needs with innovative tools like the PPC Dashboard, Smart Alerts, Review Requester, and Keyword Tracker. Everything you need to grow and scale your business is just one click away. Stand out from the crowd and conduct business whenever, wherever. Innovate your effort and work smarter, not harder. The difference is amazing. Sellerise is for professionals at every level of the business journey. Simply select the capabilities that best fit your needs. Visit https://www.sellerise.com This episode is brought to you by Zee Are you a private label seller looking to expand into larger markets internationally or need an experienced import partner to keep growing? Zee makes selling your Amazon products abroad easy with excellent import knowledge, door-to-door solutions, customer service and scalability. Streamline your import process with Zee today to increase profit margins and continue to scale. Ready to expand your eComm empire and take your Amazon FBA Business global? Visit https://zee.co to learn more! In this episode, host of EcomCrew Michael Jackness is here to discuss how to launch on Amazon WITHOUT rebates & giveaways. In this episode, learn what common mistakes people make when launching their products, and how much time & money is required. This episode is brought to you by Startup Club, Sellerise and Zee
The global supply chain model has increased the affordability and accessibility of products manufactured all over the world. Sourcing products in this environment has become a much more complex task than before, and having a handle on the logistics of international trade has never been more vital. On this episode of the Alibaba.com Sourcing Insights podcast, host Kunle Campbell, Co-Founder of Octillion Capital Partners, speaks with Mike Jackness, President and CEO at Terran LLC, about some tips and tools for staying on top of increasing supply chain complexity. Some valuable insights from their conversation include: - 7:15 Coordinating logistics to make the most of suppliers' geographical locations- 17:26 Ways to secure lasting relationships with suppliers through clear communication- 26:15 Coordinating pricing to maximize profit, despite global market volatility- 29:10 Diversifying sourcing to create built-in resiliency- 32:33 Ensuring quality control at the supplier level Beyond managing complex logistics, there are other important takeaways, such as: - 5:41 The ways that perceived value can impact manufacturing decisions- 14:15 How to protect intellectual property from competitors seeking to copy design concept - 31:15 Taking the time to create quality products with noticeable market differentiation - 32:24 Taking advantage of Alibaba.com's RFQ feature for pro buyers Coordinating international complexity is key to maximizing profit and creating a sustainable sourcing model.
To attract repeat customers, businesses should source their products according to changing trends. Tom Samiljan, Editor in Chief of Dealerscope, joined host Mike Jackness, President and CEO of Terran.com, on Alibaba.com Sourcing Insights. They discuss some of the trending electronics products Tom has written about, and how important it is for ecommerce businesses to pay attention to these trends. A few products gaining popularity, and sourceable through Alibaba.com, include: - 3:04 - The increasing affordability of true wireless earbuds - 6:01 - Ebikes and escooters, which are becoming far more accessible and available in urban areas- 11:39 - Outdoor appliances and tech, as hosting and entertaining outside is gaining popularity- 15:18 - Wearable tech, whose uses are expanding for both health and entertainment purposes- 19:12 - HDMI 2.1 cables, keeping in step with better high fidelity TVs and game consoles - 22:47 - Cell phones, with ever-expanding options and better affordability- 29:16 - Virtual Reality systems, which have gained immense popularity in the last year Tom also explains some ways business can take advantage of the latest technology: - 37:55 - Website optimization and making use of digital optimization tools- 41:59 - Sourcing the latest tech through Alibaba.com- 43:27 - Attending consumer technology trade shows, such as the Alibaba.com's Online Trade Shows By sourcing the most popular new tech, businesses can turn one-time purchases into repeat business. Note: All mentions of ‘CTA' in the episode refer to the Consumer Technology Association
To attract repeat customers, businesses should source their products according to changing trends. Tom Samiljan, Editor in Chief of Dealerscope, joined host Mike Jackness, President and CEO of Terran.com, on Alibaba.com Sourcing Insights. They...
It's one thing to get a sourcing business up and running. It's another thing entirely to optimize and scale your business across multiple markets and suppliers. Suuchi Ramesh, Founder and CEO of Suu.chi, Inc. comes from a data analytics, supply chain, and venture tech background, with a Masters in Computer Science driving her eye for optimization. As the guest for this episode of Alibaba.com Sourcing Insights, Suuchi gives thoughtful insights into how the best sourcing businesses grow and scale. She joins host Mike Jackness, who has worked with Alibaba.com for many years and who also has extensive knowledge and expertise in creating and launching e-commerce brands. Suuchi and Mike discuss: - 00:04:32 The importance of spreading execution risks- 00:09:34 Not being short-sighted about costs- 00:12:00 Understanding that supplier relationships can change over time- 00:13:05 Considering having different sources for successful products- 00:14:08 Digitizing as you grow- 00:28:22 How Alibaba.com can help you onboard your suppliers- 00:31:06 How to get suppliers to be more compliant with your systems There's plenty more to hear in the episode. Enjoy!
Mike Jackness, a lifelong entrepreneur with a wealth of knowledge shares valuable insights into the tactics he uses to fuel his 5 businesses while making sure he has time with family, friends, and health.
Did you know you can turn your passion into a viable business? Mike Jackness from EcomCrew shares exclusive tips on how to enter the online market. Among the things he emphasizes on is niching down into an area you're passionate about and how it can help you relate with your customers.In addition, Mike offers tips for people looking to start private labeling and some of the challenges they can prepare for. He also stresses the importance of building a community of people who relate to your product and highlights some of the misconceptions new sellers have when setting up an eCommerce business. Book a free assessment call with us!: https://bit.ly/3QH9Q8BThis Is The DayA podcast about moving forward with your dreams, being brave and making big things...Listen on: Apple Podcasts Spotify The Personal Finance PodcastSubscribe now and Master Your Money in Less than 30 Minutes Per Week! Listen on: Apple Podcasts Spotify
Mike Jackness is an entrepreneur and e-commerce expert. He is the President and CEO of Terran, a leading e-commerce conglomerate that owns and builds top brands like IceWraps and Wild Baby. He also co-hosts the company's podcast, EcomCrew, where he discusses all things e-commerce. Mike started his first business straight out of high school before joining Lee Technologies as the IT Director. During his time there, he helped grow the company from 40 employees to over 200. More recently, Mike served as the President and CEO of Protos Marketing, which he founded with two business partners. In this episode… Everyone has an idea for a new e-commerce product, but what does it take to successfully launch one? Anyone who has tried to build a successful e-commerce brand will tell you how difficult the process can be. You must have an innovative idea, strategic marketing, and countless hours of hard work to bring it all together. Additionally, there are plenty of pitfalls along the way that can hinder even the best businesses. Every successful entrepreneur has a list of things they wish they had done differently — and that's why advice from those who've walked the path before is so important. Fortunately, that's exactly what Mike Jackness is here to do. In this episode of the Ecommerce Wizards Podcast, Guillaume Le Tual interviews Mike Jackness, the CEO and President of Terran, to discuss his perspective on starting and running a new e-commerce brand. They go over Mike's storied experience as an entrepreneur and how he manages his current companies through Terran. They also talk about the difficulties of duplicating success, what to know about your margins, and how to construct effective funnels. Stay tuned to hear it all for yourself!
In this episode of The Opportunity Podcast, we will be speaking with Mike Jackness, co-founder of EcomCrew, a community, podcast, and resource for ecommerce entrepreneurs. Mike's a 7-figure ecommerce expert here to share everything in the ecom world and how he makes acquisitions. Mike takes a deep dive in his interview on the challenges, wins, and businesses that have shaped his ecommerce knowledge. He takes us step by step through his process of acquiring a new ecommerce business, from raising capital, due diligence, negotiations, to a successful close. Mike's calling for a breakout year for ecommerce sales and goes over how to navigate the changes in ecommerce and still build a future proof business. As a trusted voice in the ecommerce community with a powerful portfolio to back him up, Mike's interview is one you won't want to miss if you're an ecommerce entrepreneur. Sit back, grab a coffee, and get ready to learn the building blocks of acquiring and succeeding in the ecommerce space.
Mike Jackness from EcomCrew talks about how to build your Amazon brand outside of Amazon. Mike Jackness also talks about creating an information and review site, finding and developing a domain for your brand, the content that should be on the brand site. How to Build Your Amazon Brand Outside of Amazon. Creating an information site to build traffic. How to find a quality domain name to build your information site? How many domain names do Mike Jackness have? Does Mike Jackness buy domains to develop sales? How to hire or find people to help with the site content? Using your own site to build up an outside review. How did you come about buying Tredmill.com? What did you do with the site? Tell us more about EcomCrew? Mike Jackness - https://www.ecomcrew.com Mike Jackness is a serial entrepreneur who quit his day job in 2004 to do content and affiliate marketing. Mike jumped into eCommerce in 2012 when he purchased treadmill.com as a parked domain and developed it into a 7-figure eCommerce property. Since then Mike has purchased or started 4 new eCommerce brands and sold 2 of them for 7-figures each. He blogs and podcasts about the entire journey at EcomCrew along the way. About FeedbackWhiz - https://www.feedbackwhiz.com FeedbackWhiz helps Amazon sellers monitor, manage, and automate emails, product reviews, orders, and feedback. Build professional email templates. Send or exclude emails based on triggers such as refunds, shipment, delivery, feedback, and repeat buyers. Track and manage all product reviews. Instant notifications whenever a review is posted. Monitor all product listings and get alerts when critical events such as hijackers, buy-box loss, and listing changes occur.
Mike Jackness is the President and CEO of Terran, an ecommerce conglomerate that owns and builds brands and content sites. Terran also runs a blog, podcast, and training site called EcomCrew, which specializes in helping entrepreneurs grow ecommerce businesses. Mike has worked for tech companies since he was 18-years-old, when he started his own tech business, Discount Computer Consultants. His specialties include search engine marketing, relationship building, and adopting change. In this episode… Do you want to know how to build a successful, sustainable business model while maintaining a healthy work/life balance? If so, this episode of the Amazing Exits Podcast is for you! Today, Kellianne Fedio and Paul Miller sit down with Mike Jackness of Terran and EcomCrew to discuss their personal exit strategy stories, how to time your exit perfectly, and how to build a sustainable business. Planning the timing of your exit can be tricky and stressful. How can you plan a lucrative and well-timed exit while maintaining your relationships, hobbies, and sanity? In this episode of the Amazing Exits Podcast with Kellianne Fedio and Paul Miller, Mike Jackness of Terran and EcomCrew offers listeners practical tips about prioritizing and maintaining a healthy work/life balance, even while planning your exit. Stay tuned to hear actionable ecommerce advice that secures favorable results!
Mike Jackness is a hardcore entrepreneur who has built and exited many e-commerce brands. Mike began with affiliate marketing and cut his teeth in the online poker world and grew into legitimate e-commerce businesses. He started with Treadmill.com, Color It, Icewraps.com, Wild Baby, and then took his experience and shaped it into Ecom Crew. Ecom Crew is Mike’s podcast and blog that provides real-world value to business owners and e-commerce professionals. He tells me what he learned from his multiple exits and why he is always moving forward and avoiding boredom. What you will learn: Mike’s experience with entrepreneurship. How he got into affiliate marketing and the online poker business. The reasons Mike walked away from his poker business. How he exited the company and managed to set up a passive income. The lessons he learned from affiliate marketing. Entrepreneurship is an addiction. The 6-month hiatus that led to Ecom Crew. Why Mike returned to entrepreneurship. What is Ecom Crew? How Ecom Crew has changed Mike’s view on business. Entrepreneurship is not for everyone. How to be real with your audience. How to build strong brands. The downside of creating an office culture. The sale process of Color It. Mike’s plans for the future. Takeaways: Reflect on why you have your business before burnout sets in, what's the point? What do you need financially to be successful? What are your options? Links and Resources: GEXP Collaborative Ecom Crew Ecom Crew email The One Thing by Gary Keller Conscious Capitalism by John Mackey The Entrepreneur Roller Coaster: Why Now Is the Time to #JoinTheRide by Darr en Hardy About Mike: Mike has been involved in online marketing for over 10 years. During the poker craze of the early 2000s, he ran one of the largest poker affiliate companies in the world with over 60 employees (He even owned part of the Canadian Poker Tour!). After Black Friday (the day congress basically made it illegal for Americans to gamble online) he ventured into e-commerce with Treadmill.com. He sold that company in 2014 and have since then started multiple other e-commerce brands with total revenues over $7million annually. Today he’s based in San Diego but he lived throughout the world including Las Vegas, the Cayman Islands, and out of a Class A motorhome while touring North America.
Hello everyone! It's Dave again bringing you what is perhaps our most special episode yet. Today we have Michael Jackness on the other end of the microphone. In these podcasts, we often hear Mike talk about his real-life experiences in running an ecommerce business. What many don't know is that he got his start in digital marketing as an online poker affiliate business back in the early 2000s. On this particular podcast, Mike shares what it was like to start this kind of business and scale it to become a highly profitable company. Aside from the highs, he'll also delve into the lows of being in this industry and reveal the reason why he finally decided to retire. Mike had a personal interest in poker from an early age. His grandfather and uncles gambled and he grew to enjoy it as well. Gambling. He got started as an affiliate in early January 2004. While playing on an online poker tournament one night, he was also surfing online poker websites. While browsing within the site's terms and conditions, he stumbled on the affiliate page. Essentially, the website was offering $50 per person for people who can bring in 1-9 players in a month and $70 per person for those who can bring in more than 10 people. Mike thought he didn't know enough people personally to make money out of this venture so he gave away a book through a penny auction on Ebay. Around this time he reached out to PartyPoker and struck a deal that he would be paid $200 per person if he could have 200 people sign up on a monthly basis. This was how PokerSource was born. The company Mike founded with his cousin a friend would reach profits in the seven-figure range. The trio would move operations to Costa Rica in 2006 but would suffer a setback shortly after due to the Unlawful Internet Gambling Enforcement Act. He would retire from the industry at the end of 2010, which is great timing as the infamous Black Friday would take place on April 15, 2011. Other Useful Resources: EcomCrew Premium Thanks for listening to this episode! If you enjoyed listening and think this episode has been useful to you, please take a moment to leave us a review on iTunes. If you have any questions or comments, feel free to leave them below. Happy selling!
"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!
"In general, I think that people spend too much time talking about their wins, and gloating, and how well things are going and never talk about the disarray or things that are going on behind the scenes, or things that they're struggling with. I think it's important to talk about this stuff; I think everyone goes through these types of things." - Mike Jackness on the business and life struggles he faced this year This is that time of the year when people talk about "best-of", "top 10 of the year", and all those things that highlight the most significant things that happened to them this year. It's a great way to look back on the successes and lessons of the year that is about to end and to get ready for the year that is about to come. In this podcast I will not do a "best of". Instead, I will talk about the struggles and the challenges I faced. Too many people talk about the glory of being an entrepreneur and sweep the mess under the rug. Being in ecommerce is not all roses and the bigger your business grows, the more problems you encounter. So in this episode, I will talk about the hardships, the confusions, the worry and all the uncertainties that we faced head on this year, and what we did to get overcome them. I elaborate the following challenges my company and I faced head on: Having to reinvent myself as we adopted a new launch strategy (I talk about our new launch strategy in detail in this episode) Keeping up with explosive growth and the tough high-level decisions I had to make Hiring a C-level employee for the first time and how scary that moment was Trying to get our non-Amazon sales to catch up with our Amazon sales and the constant dread of something terrible happening to our account Being able to systematize everything Staying focused and keeping myself away from pet projects Working with my wife (happy wife, happy life right?) It definitely has not been an easy year but with all the struggles came the fruits of our labor: explosive business growth, a great team, and happy customers. We don't expect problems to let up anytime soon since we are gearing for more growth next year, but we do know that we will be giving it all we've got. And you should, too. Resources mentioned: Stamped.io AsiaInspection Our Amazon Product Launch Strategy for 2018 Free 2-hour Webinar If you enjoyed listening to our podcast, please leave us an honest review on iTunes. We badly need reviews to help us get discovered by other ecommerce entrepreneurs out there looking for our content and we need your help. In connection, we are having a 2-hour coaching webinar on December 21st and attendees can ask anything under the sun and we will give our honest unbridled advice that will be really helpful for your business. Normally I charge $500/hr of my consulting time but this webinar will be for free. The only thing we ask in return is that you leave us an honest review of the podcast. You can check out the details here. Thanks as always for tuning in. Until next episode, happy selling!
"Seeing all these things that other people ... are doing, especially the black hat sellers, and not being able to beat them by using my white hat tactics--it's a very brutal position to be in. But the thing is, one day, I want to be left with a chair when the music stops and they won't." - Mike Jackness on his long-term Amazon launch strategy Earlier this year we came upon a chilling situation--more and more sellers are employing black hat tactics to try to win more sales on newly launched products. With so much competition on Amazon it's very tempting to do the same, even though we all know it's against Amazon's TOS and doing so is very much like playing with fire. And we all know what happens when Amazon finds out. I haven't been suspended before, but I know what it's like to suddenly lose so much money overnight because the platform you depend on decided to basically kick you out. I've heard of so many dreadful stories of Amazon killing accounts and leaving sellers in the dumpster. I don't want this to happen to me--I certainly don't want to be stuck with a million dollar's worth of gel pens I can't pay bills with. So I got to thinking, what does amazon really want? If I need to win in this without risking my account, I need to think of a long-term strategy that plays by Amazon's rules. That's how I came up with the strategy that we've been using to launch our newer products. We've started to get some real traction, and with this success, we decided we will be using this strategy moving forward to 2018. In this episode I talk about exactly how we plan to launch products next year, step by step. A word of warning though: this does not involve fast and easy tricks and gimmicks--this strategy takes longer, but is every bit worth it. Here's the breakdown of what I discuss: The why and the how of building an email list off of Amazon Reaching out to customers in a way that is not against Amazon TOS The purpose of contests and giveaways Using ClickFunnels to offer upsells to people who joined the contests (I will email my ClickFunnels landing pages to you for FREE when you sign up through our affiliate link) Using free plus shipping offers Developing a 5-star product How to properly use Amazon PPC when launching a product If you decide to try out ClickFunnels and want a copy of our landing pages, send us an email to let us know. ClickFunnels has made it really easy to share pages, so sign up here if you haven't done so. Resources mentioned: AsiaInspection Stamped.io ClickFunnels If you found this episode useful, let us know by leaving a review on iTunes or by leaving a comment below. Thanks so much for listening, and until next episode, happy selling!
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