Limited Supply

S7 E12: Listener Mailbag: Lessons From Failure, Going to War with Your 3PL, and Building a Kickass Landing Page

Mar 20, 2024

CEO insights on learning from failure, managing 3PL issues, and building effective landing pages. Tips on Facebook ad management, importance of cash flow, and selecting suppliers wisely. Sponsored message on Postscript Cashback for boosting margins. Lessons on avoiding 'sexy' business ideas and embracing failure for growth.

46:48

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Quick takeaways

Learn from failure and avoid repeating mistakes as a CEO.

Research 3PL suppliers thoroughly by talking to both positive and negative experiences.

Utilize platforms like Import Yeti and Etsy for effective product development and supplier sourcing.

Deep dives

Warm Introductions and References are Key for Finding Suppliers

The most effective way to find suppliers and materials for product development is through warm introductions from individuals who have had positive experiences with suppliers in the industry. Warm intros ensure trust and motivate suppliers to provide excellent service. Additionally, always ask for references and seek out negative references to gain a comprehensive understanding of potential suppliers.

Building Successful Businesses by Learning from the Failure of Aggregators

01:38

Effective Wealth Management Strategy through Treasury Investments

01:05

Motion Creates Energy

01:24

The Value of Warm Introductions and Seeking References

01:33

Introduction

2min

Financial Struggles and Layoffs: Thracio, Wind Brands, and Investor Conditions

2min

Marketing Strategies and Landing Page Advice

15min

Strategic Oversight and Financial Management

10min

Strategies, Challenges, and Sponsor Highlight for SMS Product

2min

Lessons Learned from Failures and Business Development

9min

Building Trust Through Warm Introductions

4min

Strategies for Sourcing Products and Taking Action in Business

3min

As a CEO, failure is imminent. So just… Don’t make the same mistakes twice like Moiz, ok?

It’s another Q&A episode, and Nik and Moiz are tearing into some of your best questions from their Slack channel.

What are the five questions all landing pages must have? What’s the best way to manage your Facebook ads? And what the heck do CEOs actually do all day anyways?

Moiz gets personal and reveals the one mistake he made TWICE. Why is it the sexiest business ideas that are always the ones most doomed to failure?

And later, Nik and Moiz explain why talking to people who have had negative experiences with your 3PL is vital before selecting your supplier. Why is Moiz sharpening his knives at the thought of some of his old suppliers?

Yeah. He’s preparing for war this week. Tune in to find out why.

Give customers more choice—and save your margins—with Postscript CashBack.

This is the better alternative to coupons.

Offer customers a CashBack option anywhere you use a coupon—popups, welcome series, or over SMS and email. When customers select a store gift card for their CashBack option, they return to purchase multiple times and spend more.

Postscript is the DTC darling of SMS for a reason—they’re in the biz of making brands more money–more efficiently. Learn more at postscript.io/limited

00:03:21 - Thrasio Faces Bankruptcy After Failed Deal

00:06:04 - Effective Landing Page Structure Tips

00:15:35 - Daily Life of a Busy Entrepreneur

00:23:14 - Managing Cash Flow Amid Facebook Ads Downturn

00:32:15 - Learning from Failure: The Key to Success

00:37:25 - Optimizing Profit vs. Product Fit

00:42:18 - Efficient Ways to Find Suppliers

00:47:23 - Exploring Resources for Product Sourcing

00:49:58 - Limited Supply Podcast Season Eight Coming Soon

Want more DTC advice? Check out the Limited Supply YouTube page for more insider tips.

Check out the Nik’s DTC newsletter: https://bit.ly/3mOUJMJ

And if you’re looking for an instant stream of on-demand DTC gold, check out the Limited Supply Slack Channel for Nik and Moiz’s most unfiltered, uncensored thoughts.

Follow Nik:

Twitter: https://www.twitter.com/mrsharma

Follow Moiz:

Twitter: https://www.twitter.com/moizali