Rihards Piks, co-founder of Supliful, shares insights from his journey in the e-commerce world, advocating for the creation of personalized supplement brands. He emphasizes the power of niche marketing and the importance of swift action, highlighting how entrepreneurs can launch their brands in just one hour without hefty inventory investments. Rihards discusses the rising trend of personalized products and innovative marketing tactics, such as using social media to build trust and community among consumers, ultimately reshaping modern commerce.
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question_answer ANECDOTE
Map Poster Business
Rihards and his co-founder scaled a map poster business to seven figures using an on-demand model.
They sold it due to a low repeat order rate, highlighting the importance of customer retention.
insights INSIGHT
Reduced Financial Risk
Suppleful helps entrepreneurs avoid large upfront inventory investments, mitigating risk.
This allows them to test the market and validate their ideas without significant financial burden.
volunteer_activism ADVICE
Niche Down and Build Community
Differentiate your brand in the competitive supplement market by focusing on a specific niche.
Build a community and offer solutions instead of just selling generic products.
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๐ Supliful - Supliful is a private-label dropshipping platform that empowers you to create and sell your brand using supplements, coffee, skincare, and pet products.
๐ โ https://www.supliful.com/
This episode of Chew on This features Rihards Piks, the co-founder of Supliful, a platform that helps entrepreneurs quickly and easily launch personalized supplement brands. The interview covers Supliful's origins, its unique on-demand model that eliminates the need for large upfront inventory investments, and its impact on the success of thousands of online businesses. The conversation also touches on the importance of niche marketing, brand differentiation, and the challenges and rewards of entrepreneurship. Rihards emphasizes the importance of thorough market research before launching a product and shares insights into the future of e-commerce, including the rise of personalized products and social selling.
๐ Rapid Brand Creation: Supliful allows entrepreneurs to launch a brand in as little as one hour, handling manufacturing, fulfillment, and branding.
๐ก Niche Marketing Focus: Success in the competitive supplement market relies heavily on identifying and targeting a specific niche, building a community, and offering a solution to a particular customer pain point.
๐ฐ Reduced Financial Risk: Supliful's on-demand model eliminates the need for large upfront inventory investments, drastically reducing financial risk for new businesses.
๐ Streamlined Operations: The platform handles all backend operations, freeing entrepreneurs to focus on marketing and brand growth.
๐ Data-Driven Decisions: Supliful provides valuable data and insights into sales and customer behavior, enabling rapid testing and iteration of products and marketing strategies.
0:00 - Intro
โ1:01 - Rihards' entrepreneurial journey
โ2:48 - Scaling to seven figures and selling
โ4:02 - Building a platform is crucial
โ5:04 - Facilitating over 10,000 orders a week
โ9:00 - Growth vs backend operations
โ12:02 - Branding and market positioning in a competitive landscape
โ15:01 - Differentiation is key to capturing market share
โ17:03 - Supliful user's viral success
โ20:32 - Reducing time to market and enabling rapid product testing and launches
โ20:51 - Product testing and its impact on investment
โ21:50 - Supliful brand's scaling to seven figures
โ25:01 - The impact of notifications on mental health and business focus
โ26:01 - Functional foods as a growing market
โ28:02 - Importance of a fully branded customer experience
โ30:29 - Challenges of launching safe and quality products
โ34:54 - Future of e-commerce and social selling trends
โ37:10 - Mmass personalization in supplements
โ39:02 - Retention rates and e-commerce success
40:29 - Final chew
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