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Dropshipping Challenges and Transition to Amazon FBA
The speakers discuss their experience with dropshipping and the challenges they faced, including long shipping times and building trust. They then talk about their transition to Amazon FBA, the benefits it offered, and their success in growing their brand.
In-Depth with Amazon seller Michael Fenech
### Introduction
- Host Danny McMillan welcomes entrepreneur Michael Fenech to the Seller Sessions Podcast.
- Brief overview of the episode's focus on the entrepreneurial journey, mindset, and success in various business ventures.
### Michael Fenech's Brief Intro
- Michael and his wife are Amazon sellers with three SKUs.
- A four-year Amazon journey preceded by experiences in Dropshipping and network activities.
### Inspirations
- Michael's background growing up in a high-achieving family.
- The influence of his three brothers who are professional athletes and his entrepreneurial father.
### Mindset and Early Life
- How Michael's early life was shaped by his family's dedication to discipline and success.
- The role of his brothers as major sources of inspiration.
### Education and Early Career Aspirations
- Michael as an above-average student who didn't attend university.
- Initial career aspirations to be a professional golfer and the lessons learned from not pursuing it.
### Mindset in Sports and Business
- Comparison between the mindset required for sports, particularly golf, and business.
- The vital role mindset plays in achieving success.
### Recovering from Not Making It in Golf
- The emotional and psychological transition after not making it as a golfer.
- A deep dive into self-awareness and strength application.
### Transition to Business and Belief in Mindset
- Transferring life lessons from sports to business, focusing on discipline, delayed gratification, and mindset.
- Why success isn't solely about resources or money, but also one's mindset.
### Moving Forward
- The importance of directing your strengths properly.
- Accepting and acknowledging one's limitations as a positive step towards growth.
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### The Entrepreneurial Bug
- Michael's foray into entrepreneurship at around 22 years old.
- Initial ventures into real estate and technology.
### High-Profile Business Ventures
- Creating a media technology in 2010 that facilitated radio station connections.
- Forming an executive team from ex-Facebook and Yahoo! execs, leading to increased confidence.
### Dropshipping, Amazon, and Beyond
- The challenges and learnings from running dropshipping stores.
- Transitioning to Amazon FBA in 2018-2019 and growing a brand to over seven figures.
### Community Building: The End Game Network
- The inception of the End Game Network and its objectives.
- Impact on the Australian Amazon Community and two success stories from the network.
### Other Business Ventures
- Danny queries about 'SKU Drop', a response to high shipping costs.
- Michael shares that SKU Drop is used by over 500 brands and discusses its unique features.
### Hosting an Amazon Seller Conference
- Michael shares insights into hosting a large Amazon seller conference in Australia.
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### Final Thoughts
- Danny applauds Michael's strong community building as a significant factor behind his success.
- Summary of the episode and the vast scale of Michael’s impact in various business sectors.
**Thank you for joining us for another episode of the Seller Sessions Podcast!**
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Listen to the best highlights from the podcasts you love and dive into the full episode