Stop Selling to the Masses, Sell to Rich People Instead

Stop Selling to the Masses, Sell to Rich People Instead. In this interview, Startups.com Chief Strategy Officer Ed Kang shares his #1 lesson for e-commerce success: stop trying to sell to the "mediocre middle" and instead focus on getting your product into the hands of "rich early adopters". He argues that wealthy people are the best evangelists, and getting one influential person to talk about your product is the fastest way to build a premium brand. Ed also shares the wild story of a founder who created a multi-million dollar business selling an "after-sex cleanup thing" by demoing it with a Twinkie , and explains his "channelpreneur" concept: why you should build an audience first before you ever create a product .Check out the company: https://startups.com

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🕒 CHAPTERS

00:00 - The "After-Sex Cleanup" Product That Made Millions

04:44 - My Failed Comic Book Venture: A Post-Mortem

09:55 - The #1 E-com Strategy: Sell to Rich People, Not the Masses

18:50 - The Real Money Is in Supporting E-com Founders

24:01 - A Case Study in Failure: The Bumper Sticker Debacle

30:08 - How a 20-Year-Old Built a $100M E-commerce Empire

34:50 - Why E-commerce Financing is So Risky

41:29 - If You Can't Do "Hand-to-Hand Combat" Sales, You'll Fail

45:05 - Don't Build a Product, Build a Channel First

49:17 - My Advice for 18-Year-Old Founders in a Basement

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