Tanya Huang shares her entrepreneurial journey, from her experience on Dragon's Den to running a successful ring business.

We talk about how customization is another barrier from the competition and how she decided to move on to customized products. We also compare Amazon vs Etsy, and how the two shape up for customized and handmade products.

Need funding for your Canadian Amazon business? Not sure if you should use a Canadian corporation or U.S. LLC to form your company? We'll cover these questions and more in our new course, Start and Grow Your FBA Business as a Canadian. Get early access now!

The Big Takeaways

Customization is a really big consideration to customers and helps your products stand out in e-commerce platforms.
Understanding customer needs drives product innovation. Etsy provides valuable insights into market research for customized products.
Amazon's interface may not be ideal for customization.
Etsy's sales have declined but are still higher than pre-COVID levels.
New competitors like Temu are changing the e-commerce landscape, bringing Etsy's market share down.
Etsy shoppers seek unique, personalized items over mass-produced products.
Customization on Amazon is possible but comes with certain challenges.
Etsy's decline may be due to increased competition and changing consumer preferences.
Sales dynamics differ significantly between Etsy and Amazon. Etsy requires more attention to customer service and product uniqueness, while Amazon requires quick deliveries and cheaper products.

Timestamps

00:00 - Introduction to Tanya Huang and Her Business
02:45 - Experience on Dragon's Den
06:01 - Transitioning to Silicone Rings
07:47 - Customization and Manufacturing in Canada
11:16 - Engraving Process and Challenges
18:10 - Investing in Engraving Technology
21:34 - Market Research for Customization Ideas
24:01 - Exploring Amazon Custom and Handmade
25:42 - Etsy's Decline: Analyzing the Trends
29:09 - The Impact of New Competitors
32:34 - Etsy vs. Amazon: Sales Dynamics
36:30 - Philosophical Insights on Selling Strategies

Thanks for listening!

Until next time, happy selling!

Episode 22: Architecture, Urbanism, & the Sacred - A Conversation with Philip Bess