Firing The Man

Kevin Sanderson is the founder of Maximizing eCommerce where he helps successful 6, 7, & 8-figure Amazon sellers expand their e-commerce sales internationally.  Kevin is also part of an elite club of two-time guests on the FiringTheMan Podcast.  For those of you wanting to know more about Kevin’s story, we encourage you to check out Episode 41 where he details his “FiringTheMan” story of leaving a cushy corporate job to pursue a life of entrepreneurship in the eCommerce space.In this episode, Kevin talks about the benefits of international expansion as well as helpful tips on how to navigate it. Let’s get started![00:01 - 9:19] Opening SegmentKevin's corporate background and how he got into e-commerceBackstory on how he helped David’s team with international expansion [09:20 - 23:47 ] Factors to consider when planning for Internation ExpansionHigh returns offer in terms of time and effortPaperwork process required for each countryKevin recommends Canada and UK in terms of efficiency[23:48 - 33: 33] Value Added Tax (VAT) and Goods and Services Tax (GST) and The MarketVAT / GST differs per country and so the process outlined for Canada is different for US or UK GST (Goods and Services Tax) in Canada refers to a federal tax Want some Amazon refunds? Check out GETIDAPromo code: FTM400Ad campaigns have come a long way allowing you to manage them well with the right strategy[34:34 - 36:21] Why Consider International Expansion?Better chance in business, a lot of people already tried and it workedLess competition in the international market hence PPC is less expensiveThere are available services to help in terms of requirements such as forms and documents per country[36:22 - 44:26] Additional Factors to Consider When Expanding InternationallyIn terms of conversation rates complexities, Kevin recommends  Payoneer for convenience or other Kevin recommends using machine listing translations, chrome translation, etc as there are many services available online to help  [31:07 - 32:19] Closing SegmentConnect with Kevin SandersonQuote/s:“I always take everything with a little bit of a grain of salt. But what I really have come to believe is that the less moving of currency the better. And how some people live a life where they will never taste victory because they're too afraid of the potential defeat.” - Kevin SandersonConnect with Kevin SandersonWebsite:   https://maximizingecommerce.com/YouTube: https://www.youtube.com/channel/UCotCLMv_rc--K6h_q_SjN6QTwitter: https://twitter.com/maxecomSend us a voice message and let us know how we can help you fire the man! Facebook, YouTube, InstagramResources MentionedGETIDAAmazon FBA Revenue CalculatorEmail us at  Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Tyler Jefcoat is the Founder & CEO of Seller Accountant where he exercises his passion for helping sellers maximize their businesses. Tyler provides financial coaching for sellers totaling more than $100 million per year in e-commerce sales. Tyler also leads the Sellers Roundtable, an exclusive mastermind group for seven- and eight-figure sellersIn this episode, Tyler provides financial coaching and a few powerful tips that will surely help maximize your business. Let’s get started.[00:01 - 02:56] Opening SegmentTyler's path to becoming a founding seller accountantHe loves the idea of coaching CEOs and helping small entrepreneurs and seeing them excel [02:57 - 06:34] What Are Some Trends Observed From Successful Sellers in 2022Companies that have great products and who are connected to their customersBrands that are offering what the customer needs and wantsThose who set aside a bit of money for education expenses thrive when the market is vulnerable[06:35 - 18:44] Increasing Gross Profit despite Increased FBA Fees Have a coordinated strategy such as focusing on your most profitable productsCheck your p&l and just keep an eye on a seller accountPay attention to ads and what fuels the product to moveSet a specific margin on your product that you can afford [18:45 -27:39 ] Managing Your Advertising BudgetHave more margin on the productUnderstand your cash cycleFind the one that intersects at the highest optimal point of these two factors: margin and cash flexibilityWant some Amazon refunds? Check out GETIDAPromo code: FTM400[27:40 - 44:30] Helpful Resources and Tips to SellersFathom - a dashboarding tool Take a little bit of extra line of credit to have liquidity than run out of cash Have a good relationship with your customers by understanding what they need and offering a product that solves their needsInvest in a secondary sales channel and show up prepared[44:33 - 45:45] Closing SegmentCheck Tyler’sbook keeping business and podcastQuotes:“ You can't understand your margins without understanding ads that fuel you have to put on the fire to get the product to move is so crucial that you, that's what I would pay attention to if I were seller..” - Tyler Jefcoat“ The most successful entrepreneurs in any industry have a growth mindset. They're gritty. And they demonstrate that grit and a Growth Mindset by joining some kind of peer group or coaching group.”- Tyler JefcoatConnect with Tyler JefcoatWebsite:  https://www.selleraccountant.com/team/tyler-jefcoat/Podcast: https://www.selleraccountant.com/podcast/LinkedIn: https://www.linkedin.com/company/seller-accountant/Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDA Email us --> support@firingReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Pat is the co-founder and President of AstroidX, an Amazon Partnered Agency that helps its clients dominate its pay-per-click advertising. Over the 5-years, Ken and I have worked with Pat and his team with great results and service. This is part two of our interview with Pat and in this episode, he shares how to succeed as an Amazon seller through efficient systems and strategies. [00:01 - 08:31] The Secret to Succeeding in AmazonThe right level of ad spend for your businessA benchmark is 10% of TACOSNet profit dollar per SKUYou can’t polish a turd if your product is horribleIt is imperative to source a great product before diving into marketingHere’s what sellers who are crushing it in e-commerce have in common: They outsource some of the tasks and focus on the more important aspect of the businessThey have tons of products[08:32 - 16:49] Think SystemsGet the best out of your ad spend with AsteroidX Hiring somebody in areas you are weak is an efficient way to take back your time and be able to scale fasterWant some Amazon refunds? Check out GETIDAPromo code: FTM400As you build your business, have mature processes and figure out what works Develop a solid SOP. If someone understands your process through SOP, you’ve got a good process[16:50 - 23:02] How Pat Changed His Life, Both Personally and ProfessionallyJoined a program that serves as his accountability partner in his fitnessEat healthy mealsRead business books as long as it’s nonfictionPat talks about his “ROAT” Return on TrainingFrom physical discipline, mental discipline follows[23:03 - 28:16] Closing SegmentThe Fire RoundCheck out Pat’s favorite books (links below)Check out part 1 of this episode on Connect with PatQuotes:“Great product is the prerequisite. That's the ticket to entry.”“You can be really good at spreadsheets, and not good at PPC.”“There's enough time in the day for everything.”Connect with Pat LumWebsite:  https://www.asteroidx.comYouTube: https://www.youtube.com/channel/UC8rW9p6w1RtG8FTQv6WF3jQSend us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDAAmazon FBA Revenue CalculatorBooksWorking Backwards by Colin BryarGood to Great: Why Some Companies Make the Leap and Others Don'tEmail us --> support@firingthemaReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Pat is the co-founder and President of AstroidX, an Amazon Partnered Agency that helps its clients dominate its pay-per-click advertising. Over the 5-years, Ken and I have worked with Pat and his team with great results and service. In this episode, he talks about how to approach Amazon advertising this holiday using the correct seasonal strategies. He also shares how you could determine if your campaign is successful through figures and the right strategies to apply for new launches.[00:01 - 08:02] Opening SegmentWelcoming Pat to the show Pat shares his story and how he founded AstroidXDancing on the street he fell in love with marketing and he started his entrepreneurial journey[05:45 - 21:01] What’s the landscape look like for Amazon PPC 2022Amazon’s ad platform is growing quickly compared to its competitorsBasic ad units are still effective You can get up to 80% of the benefit of the ad platform by using sponsored products and sponsored brands correctlyTo mitigate the risk you have to have enough preparation for the big events like Black Friday, Christmas saleHaving tons of sales doesn’t mean you’ve been profitable. Pat shares how you could check your numbersWant some Amazon refunds? Check out GETIDAPromo code: FTM400Ad campaigns have come a long way allowing you to manage them well with the right strategy[21:02 - 31:06] Spend Your Dollar Wisely on Ad SpendPat’s advice on how to adjust your budget to align with the seasonal trendsAs long as the spending makes sense and is profitable, then keep it onYou can still ride the holiday traffic without paying holiday premiums on your keywordsAvoid overwhelming and overspending using a keyword strategyPut effort and money into product development by listening to what the people are saying including their complaintsThe higher the click-through rate, the better the reviewsA decent ad spend when a product is up and rolling should be 20 to 30% of the MSRP for mature products and 50 - 60% in the beginning [31:07 - 32:19] Closing SegmentTune in to part two of the conversations next episode!Quotes:“The better product you have. The higher the click-through rate is.” - Pat Lum “Just because it got you a ton of sales doesn't mean that it performed in a profitable manner.” - Pat Lum “The better the product is like just for the end customer, the easier everything else is going to be.” - Pat LumConnect with Pat LumWebsite:  https://www.asteroidx.comYouTube: https://www.youtube.com/channel/UC8rW9p6w1RtG8FTQv6WF3jQSend us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDAAmazon FBA ReveReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Adam is the Founder and CEO of Retention.com (formerly Getemails) which he's bootstrapped to 14m ARR in 2 ½ years with six people. Retention.com is an identity resolution service that can identify one-third of your anonymous website traffic so you can market to those potential customers. Yes, read that sentence again, it’s magical. Before Retention, Adam was the founder/CEO of Robly Email Marketing, which was bootstrapped and he exited for 8 figures to private equity in 2020.This is part two of the episode with Adam Robinson. In the previous episode, he talks about revolutionary ways to get quality email addresses and the legalities behind them. Now, we continue the conversation on email marketing for e-commerce. [00:01 - 11:41] How retention.com Could Help with Your E-Commerce BusinessIt allows you to put the pixel and integrate it into your email service provider from your websiteRetargeted people through email are often what convertsHere’s how Adam calculates the ROI of an email addressThe best way to own an audience without paying for media access is to contact it over and over again[11:42 - 18:07] Make The Most Out of Your ListInstead of comparing your conversions, CTR, etc. to the industry, convert it to what you’re doing currentlyYou can see real results in ideally 60 days as it takes a while for the audience to warm up and repeat purchaseYou are leaving money on the table if you do not:Set up an abandoned cart and add an SMS collection/messageProduct abandonment setupWant some Amazon refunds? Check out GETIDAPromo code: FTM400[18:08 - 30:30] Closing SegmentThe importance of having a lean, cashflow-positive businessAdam shares his experience of setting up a good SAaS business and how it is different from venture capitalWho are the perfect customers for Retention.comThe Fire RoundCheck out Adam’s recommended booksQuotes:“When you see the results, scale it up. And if you don't cancel it.” - Adam Robinson“The real results come after doing it for a long time.” - Adam Robinson“Until you have it, you shouldn't do anything else other than try to get it done.” - Adam RobinsonResources Mentioned:www.ycombinator.comThe Four Steps to the Epiphany by Steve BlankGETIDAConnect with AdamWebsite: www.retention.comInstagram: https://www.instagram.com/adamlanerobinson/LinkedIn: https://www.linkedin.com/in/adam-robinson-64409348Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Adam is the Founder and CEO of Retention.com (formerly Getemails) which he's bootstrapped to 14m ARR in 2 ½ years with six people. Retention.com is an identity resolution service that has the ability to identify one-third of your anonymous website traffic so you can market to those potential customers. Yes, read that sentence again, it’s magical. Prior to Retention, Adam was the founder/CEO of Robly Email Marketing, which was bootstrapped and he exited for 8 figures to private equity in 2020.This is a two-part episode where Adam talks us through a revolutionary way to get quality email addresses and the legalities behind them. Let’s get started.[00:01 - 08:02] Opening SegmentWelcoming Adam to the showIsmael’s background and careerAdam’s background and how he got into email marketingHe shares the story of his entrepreneurial mistakes during his start-up[08:03 - 10:17] Ways to Blow Up Your BusinessPoach customer information from a marketing companyToo many competitors in a saturated marketHaving a long contact list but are considered poor leads[10:18 - 16:19] The Beginning of SuccessDefined what Mailchimp isn’t doing then offered that serviceAdam leveraged Customer Identity to start his businessBig players are prohibited from selling customer data making it a great business opportunity for small playersWant some Amazon refunds? Check out GETIDAPromo code: FTM400[16:20 - 27:01] How Is Email Spam Legal in The US?If your business fails, you come back stronger and more experiencedAdam talks about Retention.comHashed email is an email address that has been encrypted in a way that a human being cannot unencrypt itThis is legal because of the CAN-SPAM Act of 2003Here’s how you can filter dead email addresses and nurture an email list that is active and non-spam What matters in email is not whether you opt-in or opt out but the engagement[27:02 - 28:09] Closing SegmentTune in to part two of the conversations next episode!Quotes:“If you don't have a profitable email program then paying any price for a lead is not it's going to be worse for you.” - Adam Robinson“You have no idea how lost you are until you're so far in it.” - Adam Robinson------------------------------------------------------------------------------------------Connect with AdamWebsite: www.retention.comInstagram: https://www.instagram.com/adamlanerobinson/LinkedIn: https://www.linkedin.com/in/adam-robinson-64409348Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDAEmail us --> support@firingtheman.com Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Ismael is the Executive Chairman of FE International, the market leader in the sale of SaaS, E-commerce, and Content businesses. Over the past decade, Wrixen has overseen 1000+ successful acquisitions totaling more than half a billion dollars in value. Wrixen was also a (NACVA) 2018 40 Under 40 Award winner. Wrixen’s previous background was in large-cap M&A investment banking, where he executed several high-profile public deals, namely in the technology sector.Founded in 2010, FE International is known for its extensive network of pre-qualified international investors. With headquarters in New York and regional offices in Miami, San Francisco, and London, FE is an international company serving clients worldwide. It was named one of The Americas’ Fastest Growing Companies in 2021 and 2020 by The Financial Times and is also a two-time U.S. Inc. 5000 company.[00:01 - 11:35] Opening SegmentWelcoming Ismael back to the show2022 Midyear report from FE Internationalwww.firingtheman.com/FE2022Are people still buying businesses?[11:36 - 18:54] The Current State of the MarketDeals are taking longer to close due to the amount of due diligence required and the limited availability of capitalMitigating the effects of COVID on the marketBusinesses are being valued using four different models, which take into account past events and trendsWant some Amazon refunds? Check out GETIDAPromo code: FTM400[18:55 - 26:03] The Best Businesses to Market Are ResilientBuyers are more focused on customer acquisition costs and diversifying their sales channels than ever beforeBusinesses that have successfully made a pivot into diversifying their sales channels and using profitable advertising are more likely to attract buyers and receive higher multiplesThe Education funds: risk vs. reward[26:04 - 39:06] Aggregators Facing Earnout IssuesAggregators are becoming less relevant as private equity and institutional capital step back inAggregators often buy businesses quickly and without doing due diligence, which can lead to earnout issuesBrands are focusing on the long-term trend of moving towards pop platforms or Shopify-based businesses[38:24 - 44:19] Closing SegmentWho is a good fit for FE International to help out?The Fire RoundFinal wordsQuotes:"You don't wanna be buying a business where the economy can take a bit of a pause or a downturn and suddenly you're buying a business at X and you have to sell it to Y.” - Ismael Wrixen"I think the market is still very strong. I think that's the thing we try to get across and not just us saying that you know we're putting data behind that in terms of how much buyer demand there is out there." - Ismael Wrixen------------------------------------------------------------------------------------------Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedReady to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

The concept that manufacturing elsewhere but in the United States is cheaper is a common fallacy.On today’s episode, we have the privilege to interview Jason Azevedo. Jason has had his heart in business development since an early age, starting a very successful apparel company that grew from humble garage beginnings to annual gross billings of over a million dollars at age 15. By 18 Jason was doing millions in business with Starbucks, Nike, Disney, Marvel, Volkswagen, Audi, Lucas films, Dodgers, and countless NBA teams.[00:01 - 06:05] Opening Segment The advantage of starting a business at a young age Jason’s focus when starting is to build a plant that could take care of people[06:06 - 13:16] Understanding Manufacturing Low-cost labor was the primary driver of manufacturing products Efficient automation in American manufacturing The best people to be in your team are a balance of those whom you’ve built through influence and an experienced workforce[13:17 - 29:48] Everything You Need to Know Before Getting StartedCovid helped Americans realize that manufacturing in America is feasible and cost-efficientProducts that are labeled as American made is perceived to have premium qualityThe concept of building near the raw material is obsoleteWant some Amazon refunds? Check out GETIDAPromo code: FTM400[29:49 - 38:13] Get your Product Made in the USAHow to start manufacturingHard work and fighting internal belief systems  The importance of sharing informationYou could promote that your product is manufactured in the USA by starting domesticallyAmericans care more about the impact of the purchase they make rather than just knowing it’s American madeSBA helps with the export of American-made products[38:14 - 50:34] Closing Segment Jason’s advice to people who are getting into manufacturing:Read The Toyota WaySaying you don’t know how to do itJason talks about MRCAQuotes  “It's very often that the same product stays the same for any significant period. There are constant adjustments that you make.” - Jason Azevedo“When American buys an American product, often, they're holding on to the belief and the love of what that means to the community of the US. Not just, hey, it's an American-made product. ” - Jason AzevedoSend us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDAUS Department of CommerceSmall Business AdministrationThe Toyota Way Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

Getting sued is one of the business owners' worst nightmares, making it a must to learn to protect yourself and your business to avoid this scenario.David and Ken share their experience getting sued, the challenges they have to face as business owners and how they have settled by avoiding the trial, and all the headaches that come with a lawsuit.[00:01 - 11:42] Opening Segment Ken and David recall the time they were sued one of their great service providersThey spent 200 hours sorting things out when they could have been used for income-generating activities[11:43 - 23:50] A Training to Become Better BusinessmenSeek legal advice to determine the validity of the lawsuitMake decisions not based on emotions but a logical business perspectiveWhen you start looking at things that way, that’s when you can pivot to a better pathKen and David decided to self-represent considering these:High professional feesThe impact on business exposureHow much is the overall cost going to beNo one knows the case better than the duoUnderstanding the other person’s perspective: The lawsuit is an inconvenience to both partiesSettling things out and avoiding trialWant some Amazon refunds? Check out GETIDAPromo code: FTM400[23:51 - 29:21] Lessons Learned from The LawsuitA phone call is convenient but email is preferred as it’s documented and can be presented as evidence in courtAlways aim for a prompt communicationCompare several service providers' offerings with a track record of successBeing sued means your business is providing value and the other party thinks it’s worth itSeparate your emotions from what’s best for the business[29:22 - 32:24] Closing Segment Ken and David’s advice on business owners who have been suedFinal wordsConnect with the duo!Quotes  “I would say that getting sued can happen to anybody. And it kind of goes along with operating a business. That is telling your business to create value. And there are people that want to go after that value. I think it's just part of doing business.”Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedGETIDA Email us --> support@firingtheman.com Leave us a review as it really helps the show!   Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show

If you’re looking to promote your business through PPC advertising, you will need to decide whether you will manage your PPC campaigns or hire a professional to do it.David and Ken share their experience in hiring ad agencies and in-house managers. They will also deep dive into the importance of understanding PPC as a business owner, and what you need to know when partnering with agencies.[00:01 - 15:05] Opening Segment What is Pay Per ClickKen and David share their experience on their PPC journey[07:07 - 19:37] Self-Managed PPCDon't worry about getting locked in. Try as many agencies as you like until you find one that’s suited to your needWhy it's important to have a good understanding of PPC and its principlesCreating a meaningful Pros and Cons listThe three things you need to be good at when self-managing PPCSelf-managed PPC is time-consuming as you grow and scaleWant some Amazon refunds? Check out GETIDAPromo code: FTM400[19:38 - 30:25] Working with Ad AgencyAccount managers handle multiple accounts that they miss some of the special instructionsOn agency pricingMaintaining ad agency-client relationshipThe difference in the compensation model of in-house and Ad agencyWhy PPC and SEO always work better together[30:25 - 33:16] Closing Segment Ken’s advice to business owners: Don’t be afraid to pivot in your business Have an implementation planConnect with the duo!Quotes  “It doesn't hurt to try. You can't be afraid to try something new, give it six months.”“For us to scale properly, we need a good value for our money. And we also need a good impact on our business from the time spent on the PPC.”Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramResources MentionedHelium 10GETIDA Email us --> support@firingtheman.com Leave us a review as it really helps the show!   Ready to scale your Amazon business? Click here to book a strategy call.  https://calendly.com/firingtheman/amazon Support the show