Owner Operated 5. Blue Summit Supplies
Apr 19, 2021
Owen Franklin, the owner of Blue Summit Supplies, shares his fascinating journey from engineering rocket launchers to running an office supply business on Amazon. He discusses how strategic inventory management and market understanding helped him navigate the challenges of rapid growth and the pandemic's impact on sales. Owen highlights humorous anecdotes about selecting a niche and the necessity of diversifying sales channels beyond Amazon. He also emphasizes the importance of mental toughness in leadership, drawing parallels between sports and business resilience.
AI Snips
Chapters
Transcript
Episode notes
Choosing Boring Products Deliberately
- Owen deliberately chose envelopes because he wanted a boring product with less competition.
- He and his wife used an Excel sheet to pick 'boring' products including envelopes and stainless steel wine glasses.
Amazon Search Ranking Powers Sales
- Getting top Amazon search ranking drives sales through visibility and customer reviews.
- Effective advertising boosts visibility, which snowballs into organic ranking and sales growth.
Cash Flow Challenges Early On
- Owen ran out of cash quickly after his first $10,000 purchase order due to slow inventory turnover.
- He needed about 2.7 times the initial inventory cost to fund operations until revenues caught up.