How to Launch a New Business

"We've got a lot we've been wanting to launch," he says. "A couple big collaborations in the works, really big 90s nostalgia brands that we're doing with pins and aces" He's also relaunching his other business called hugelab, which is a direct consumer cleaning company. 'I love that you leverage past experience in interesting ways,' she adds.

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Entrepreneur Nick Mertz on Challenges of E-commerce, In-House Operations, and Hiring the Right People.

Today's episode of The Unofficial Shopify Podcast brings you Nick Mertz, the reclusive yet unstoppable e-commerce juggernaut behind $100 million in revenue. This unstoppable entrepreneur has generated over $100 million in revenue with ventures like Rugged Apparel, Adam's Polishes, and Pins & Aces. How does he do it? Discover his strategies for hiring, in-house operations, and mastering growth.

Timestamped overview

[00:01:21} Podcast featuring successful e-com entrepreneur Nick, discussing challenges and successful ventures, including Leno's Garage.

[00:04:38} Started e-com business in college selling survival bracelets, sold it after a few years.

[00:08:59} Starting an e-commerce business does not require a lot of money. Differentiation is key to success in a competitive market. Validating the idea is important before starting.

[00:12:21} Stick with it, have grit, and don't expect overnight success. One mannequin company survived the 2008 recession while 90% of competitors went out of business. Some products have TikTok booms, but persistence is necessary to turn it into a business.

[00:13:50} Two successful products: beer sleeve and liquor stick, with a focus on innovation and marketing. Dealing with copycats involves legal action.

[00:20:39} Small brand collab with Bud Light - no license, no royalty, just make cool stuff and use it. Unlimited
beer sent. Those brand collabs legitimized the brand leading to other collabs. Some licensed stuff, like NCAA.

[00:24:38} Starting as a side project, Pins and Aces grew to become a real business by hiring key people while maintaining a fun culture. Hiring slowly and firing quickly is important for building a strong team.

[00:27:19} Employees have equity in the company and a bonus program; giving opportunities for growth leads to retention.

[00:33:55} DIY approach has drawbacks like lost packages, missing inventory, shipping wrong item, but offers personal touch and control over shipping experience.

[00:38:58} New products, collaborations, growing brands, relaunching Hooga Lab, and moving to a new building.

[00:41:33} Stay focused on your product and niche, even if it doesn't sell immediately. Grinding it out for at least 6 months can lead to success.