The Fort

John Blatchford is the Owner of Kunst, a real estate developer in Cincinnati, Ohio that renovates historic buildings into city apartments by utilizing historic tax credits and Opportunity Zone investments. This episode is a deep dive into The Historic Real Estate Tax Credit, John breaks down the entire process from what buildings qualify, how to apply, the difference between the state and federal credits, how they use the credits, and much more. Enjoy!Follow Chris on Twitter: www.Twitter.com/FortWorthChrisLearn more about Chris Powers and Fort Capital: www.FortCapitalLP.comFollow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/John on TwitterKunst (02:09) - John’s Background and Career(05:37) - What are you focused on at Kunst?(06:38) - The Cincinatti Market(08:40) - The Historic Tax Credit(09:47) - How do LP’s benefit from this Tax Credit?(11:35) - How do you use the credit?(12:12) - How do you begin the process of getting the credit?(13:56) - How often does the state approve these credit applications?(14:17) - What work has been done before applying?(15:39) - What are the things you did wrong on the first deal that are easy fixes on deal 14 and onward?(16:49) - Do you have to own the property before submitting an application or can you be under contract?(17:30) - Does anyone actually come to visit the property from SHIPO?(18:07) - How much of the building needs to be ‘saved’ in order to qualify for the tax credit?(19:38) - How vacant are these properties when you acquire them?(20:39) - If a building is totally bombed out, do renovations have to match the aesthetics of the time or can it be built to look more modern?(21:11) - Why do states and federal governments care so much about preserving the historical nature of these buildings?(22:28) - Is there a point where the building is in such poor condition where you have to demo it?(23:07) - Would a ground-up development require a historic-style building to go up?(36:04) - Do you ever sell the credit in whole?(37:12) - Is there an online marketplace where you can list these credits for sale?(40:57) - Is there a place people can go to see all the federal tax credits that were awarded in a year to try and buy them?(42:12) - Who are you usually selling your federal credits to?(51:04) - How often do you see projects that are missing out on these tax credits?(52:18) - What would it cost to hire a consultant to work on getting these credits?(52:45) - How would you find a consultant?(53:23) - Is there anything within landscaping that falls under the criteria?(53:40) - How long does a typical renovation take you?(58:30) - Do you have a lot of competition in your market?(59:26) - Do you have the runway to do a lot of projects in your market?(59:52) - Do you have a favorite historical building?(1:00:26) - John’s Cincinnati Preservation Collective(1:01:00) - Are there any political or governmental risks that keep you up right now?(1:01:56) - How do you project job creation?(1:02:37) - Who is usually the owner of the building before you enter the picture?(1:03:41) - What do conversations with public owners look like?(1:04:20) - Can you get the credit for ground-up dev?(1:04:34) - Is there anything you’ve learned along the way when creating your budget?(1:06:07) - Have you come across any treasures in these old buildings?(1:07:49) - What are the biggest differences in how people used to build things back then?(1:09:50) - What buildings can get these credits?(1:11:21) - Is there a yearly influx of these buildings getting approved with the 50-year existence requirement?(1:12:29) - Can you get a building out of a historic designation?(1:13:02) - What’s your end goal?(1:13:30) - Are there any resources that people can learn more about this industry?The Ohio Dept. of DevelopmentThe FORT is produced by Johnny Peterson & Straight Up Podcasts

On this solo episode, Chris breaks down what would cause someone to sell an investment property or cash-flowing asset. He also discusses why different entities will decide to sell, such as funds or merchant developers. He stresses the importance of building a track record of selling, and how that played into the success of Fort Capital. He also discusses the process by which Fort Capita approaches a sale and experiences they've had. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/  (01:57) - Who and what are we selling? (02:30) - What are some reasons to sell? (04:10) - Misalignment & Partnerships (04:59) - You’re Doing Larger Deals (05:43) - Satisfying Estate Issues (06:09) - The Market is High and The Offer is Great (06:38) - There are Better Opportunities for Capital (07:18) - Taking Profits (08:55) - Changing Market Conditions (10:31) - Cross-Collateralized Deals (11:10) - Taking risk Off The Table (11:26) - Real Estate Depreciation (12:05) - Investor’s Preferred Time Horizon (13:13) - Tax Reasons (13:38) - Why funds, REITs, and Merchant Developers Will Sell (15:01) - You’ve Aggregated Enough Assets (16:12) - What does selling do for an investment company? (18:15) - Building a Track Record (23:04) - Ownership Types and Incentive Structures (30:08) -  Fort Capital’s Experience in Selling Portfolios (32:29) - The Process by Which Fort Capital Sells The FORT is produced by Johnny Peterson & Straight Up Podcasts.

Bill D'Alessandro is the Founder / CEO at Elements Brands, a parent brand that owns and acquires e-commerce companies. Bill founded Elements Brands in 2010 and has scaled to 8 figures of revenue, 50+ employees, and 51,000 square feet of office/warehouse. Elements Brands is vertically integrated and they own and operate all their brands. They have a team of in-house experts in digital marketing, branding, wholesale sales, customer retention, and financial analysis. Their supply chain and logistics teams manufacture and ship thousands of orders each day to customers around the world. On this episode, Chris and Bill discuss Elements Brands and why Bill chose vertical integration, with a rabbit hole into how that has played out so well for them given the current supply chain challenges facing the globe. They have a great discussion on the 'Amazon Seller' model and where that plays a role in the companies Bill looks at purchasing. They break down Bill's strategy when acquiring brands and what that process is like for the seller. They also discuss how Bill landed on Petcare and skincare for his core products, Culture Index, digital marketing, and more. Enjoy! Watch this episode on YouTube: https://youtu.be/_ekX3rEf4iY Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:20) - Bill’s Background and Career  (04:02) - How did reading 4 Hour Work Week impact you? (06:04) - Building KP Elements (08:07) - What is Elements Brands and how is it structured? (09:51) - Element’s Berkshire Hathaway Angle (10:25) - What’s your day-to-day focus as CEO? (11:13) - Why did you choose to pursue vertical integration? (12:51) - Why do more folks not do vertical integration? (15:13) - How did you land on skincare and petcare as your core products? (18:15) - Discussion On The ‘Amazon Seller’ Model (25:49) - Bill’s Process When Buying Businesses and His Ownership Strategy (27:12) - Valuing the Business (30:57) - Are you ever paying a premium for a great brand? (32:20) - How does your deal flow operate? (33:56) - What happens from the initial verbal agreement to the day you own the business? (36:00) - The Financials Side of Deals (38:26) - Organizational Structures (39:55) - Elements’ Employee Makeup (43:10) - Ingesting The Acquired Companies Teams (43:48) -  Culture Index (46:34) - What’s going on with Facebook and Apple and online advertising? (57:50) - How many of your 60 people are Marketing & SEO? (59:50) - How are you thinking about our current supply chain issues? (1:04:03) - Is there a solution on the horizon in terms of having the ports operate longer hours? (1:07:39) - What’s your end goal for Elements Brands? (1:09:54) - What do most people get wrong when starting their first product? (1:11:43) - Is there a way to start sales before putting a lot of advertising dollars at risk? (1:13:20) - Teaching Entrepreneurship Through Action (1:15:28) - What advice would you give someone starting out in your industry? (1:16:11) - Is there a book you would recommend? Plain Talk by Ken Iverson (1:18:36) - How can people reach you or Elements Brands? Bill's Personal Website Elements Brands Bill on Twitter The FORT is produced by Johnny Peterson & Straight Up Podcasts

Born and raised in South Philadelphia to a single mother, Ayesha is now a multi-millionaire in Stock, Real Estate, and as a Franchise Business Owner. As an Economic Activist, she encourages everyone to invest their money in themselves and their neighborhoods. On this episode, Ayesha discusses her upbringing and how she was able to escape poverty through Real Estate, and her goals of helping others do the same. She and Chris discuss her RE philosophy, how she manages her assets, the impact of the past 18 months, her #1 message: "Own some shit" and much more. Enjoy! Watch this episode on YouTube: https://youtu.be/z51ByEcm23M Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ (02:17) - Ayesha’s Childhood in South Philadelphia and Career Background (10:19) - Entrepreneurship By Hook or By Crook (11:12) - Trial and Error: Money Management (13:55) - “You gotta own some shit” (16:39) - Thoughts on Gentrification (21:10) - Mud to Millions (24:55) - How did money play a role in the broader community growing up? (29:33) - What do you mean when you say “change your mindset” when talking about money? (35:44) - How Ayesha Built Her RE Portfolio (41:24) - How do you think about cash flow & appreciation? (44:20) - The Social Impact Mindset When Setting Rents (46:22) - Ayesha’s Online RE Deal in LA and Goals in California (52:44) - Ayesha’s Annual Net Worth Review & What’s Next (59:38) -  Thoughts on NIMBYism and Affordable Housing (1:01:34) - What has the last 18 months taught you about the world? (1:06:16) - How can FORT listeners spread the Mud 2 Millions Message? Mud 2 Millions Book Mud2Millions.com (1:06:54) - Do you have a morning routine? (1:07:31) - What’s the best advice you’ve ever been given? (1:08:06) - If you had a billboard for the world to see, what would you put? (1:08:22) - How can people find you? Twitter: www.Twitter.com/AyeshaSelden Instagram: www.Instagram.com/AyeshaSelden The FORT is produced by Johnny Peterson & Straight Up Podcasts

Bobby has been involved in startup companies for nearly his entire career. He left graduate school to start his previous company, Cross Properties, with 3 other partners in the basement of a seminary in 2011. He's worn every hat in real estate from finance, capital markets, fundraising, leasing, late-night maintenance, and semi-professional architect. At Cross, he was the Partner in charge of the Development and Design team and was responsible for every project from an empty lot to stabilized building. In 2019, he left day to day operations at Cross to co-found Tailorbird, a construction technology company, and Form Developers. On this episode, Chris and Bobby break down the science behind floor plans and how Bobby looks at apartment development as products that need perfecting. They discuss value add, efficiencies in the industry, the concept of pre-furnished apartments, how Bobby has built his persona as a floor plan consultant on Twitter and much more. Enjoy! Watch this episode on YouTube: https://youtu.be/Hdt2wr5a_YM Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ (2:11) - Bobby’s Career in Real Estate (4:22) - How did you make floor plans your niche? (8:03) - What’s the main reason floor plans are afterthoughts in the development process? (10:02) - What would make a great 650 Sqft unit and what makes a terrible one? (14:25) - Are there parts of a floor plan that adds value every time and parts that don’t in the data you’ve seen? (17:48) - What would a second use for a bedroom be? (18:56) - Thoughts on Balconies (19:48) - What makes 2br's more or less valuable? (21:52) - How do preferences change between demos of empty-nesters and millennials? (22:57) - Bobby’s disdain for Value add (26:07) - Creating metrics that people aren’t measuring right now (28:55) - Are you met with resistance when trying to present this way of thinking? (32:32) - What would be the opposite view of yours? (32:59) - “Apartments should be designed furnished” (41:31) - Is there any data to suggest people would rent longer in a pre-furnished scenario (41:59) - What’s your favorite feature in a small apartment? (42:38) - Thoughts on efficiencies in apartments (44:58) - Thoughts on Micro-units (46:56) - What are key things you think about when you take over an existing structure? (50:35) - Are there resources developers can utilize early on when it comes to easily design floor plans? (55:37) - What is a complex deal and what have you done to gravitate towards them? (58:30) - What are common things that the average developer overlooks when reviewing rules & regulations and dealing with surrounding communities? (1:01:39) - What do the majority of your reuse deals look like? (1:06:05) - Is it fair to say there’s more adaptive reuse projects in the Northeast? (1:08:12) - Does anything come to mind of things you’ve been able to pull off that most developers wouldn’t have seen? (1:13:52) - When you enter a new area, do you bring on local consultants to help you create relationships in the city or do you have a specific approach? (1:19:25) - Do you have a favorite floor plan you’ve ever seen? And what’s the worst one you’ve ever seen? (1:23:25) - What’s your favorite development? (1:24:33) - How can people find you Twitter: www.Twitter.com/BobbyFijan Email Bfijan@formdevelopers.com The FORT is produced by Johnny Peterson & Straight Up Podcasts     

Laird Sparks is a Senior Managing Director for Greystar Development and Construction Services, with responsibility for multifamily development in the Central North Region. He joined Greystar in 1998, holding various positions across multiple disciplines prior to joining the development team. Laird has been involved in all aspects of the Greystar business, including third-party property management, development, renovation, acquisitions, refinance and dispositions, and the asset management of approximately 20,000 apartment units with a capitalized value of approximately $2.5 billion. On this episode, Chris and Laird discuss the behemoth that is Greystar, their work in Texas, conventional multifamily age-restricted developments, the explosion of Single-Family Rentals, student housing, Industrial, and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ (03:56) -  Laird’s Career Story and How Greystar Has Evolved Since Being There in 1998 (05:47) - How is Greystar set up from the national level to the regional level? (06:53) -  What does your office do and what’s your role? (07:37) - What’s changed about development over the past 14 years? (09:35) - Are there amenities that are becoming obsolete? (10:41) - Did you primarily do deals in the core during this cycle? (11:37) - What markets do you play in? (12:46) - Are entitlements in suburban markets tougher to get? (14:25) - What are the differences between urban and suburban facilities? (15:48) - Workforce Housing (16:56) - Is there anything from a cost perspective on the horizon that excites you? (20:24) -  What makes up the bulk of cost increases? (21:07) - What are the factors in labor cost increases? (22:09) - What’s driving the massive jump in rents since Covid? (24:53) - Are we anywhere close to meeting demand in apartment developments for DFW? (25:37) -  How much do property taxes impact deals? (27:02) -  Is there anything different about this cycle from the others you’ve experienced?  (28:56) - Are there any permanent changes you're making in your products in light of the pandemic? (30:19) - Why is SFR so hot right now? (34:00) - Is there anyone doing luxury SFR? (36:35) - SFR Tenant Demographics (37:17) - Leasing Factors (37:49) - How are capital markets looking at SFR? (39:36) - Is there talk about not taking the merchant developer route with SFR’s? (42:33) -  How do you define age-restricted deals? (47:13) -  Student Housing (49:38) - Senior vs. Student Demand in Regards To Capital Markets (51:47) - Thoughts on Industrial (56:01) - Is the data you have across different asset classes helpful or is it pretty siloed? (58:55) - How is Texas positioned vs. the rest of the country? (1:00:37) -  Getting a Deal Done in CA vs. TX (1:02:45) - What metrics matter most to you when underwriting a deal? (1:04:41) - Have the basis point spreads between what you’re building to and what you’re exiting on changed drastically? (1:06:30) - How are 10-year hold deals structured if you’re underwriting a Merchant Development deal?  (1:08:20) - Thoughts on Opportunity Zones (1:10:03) - Property Management (1:15:52) - Is there anything that keeps you up at night or risks in the market? (1:17:41) - Has Social Media been a major player in making the developer a ‘villain’? (1:22:09) - Is crowdsourcing the future? The FORT is produced by Johnny Peterson & Straight Up Podcasts

Andrew Gazdecki is the Founder of Microacquire, an online startup acquisition marketplace. Andrew is also the former CEO & Founder of Bizness Apps and Altcoin (both acquired). On this episode, Chris and Andrew discuss the early days of founding Bizness Apps and Altcoin before his jump into Microacquire. They break down the process of how Microacquire works, what types of companies are on the platform, how they engage with potential buyers and advice for founders to be successful in selling their businesses. Finally, Andrew discusses why VC isn't right for everyone, his Bootstrappers platform and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:43) - Andrew’s Career Background Leading into Microacquire (15:31) - Why Andrew Regrets Starting an Ethereum Transaction Company (18:43) - What is MicroAcquire and what are you trying to achieve? (21:05) - How do you make money? (24:03) - What is the range of sellers you’re seeing on the platform? (26:48) - Does the seller have to put the price they want on the platform? (29:08) - What’s the vetting process for sellers to get on? (30:47) - What’s the range of buyers you see on the platform? (32:28) - What do you mean by Corp Dev licenses? (33:24) - Have you had any first-time buyers who just looking to get into entrepreneurship? (35:03) - What would a $10,000 per year revenue business vs. an $8mm company look like on Microacquire? (38:43) - Are you providing resources for new buyers or how do they learn how to acquire businesses? (42:00) - What are the things sellers need to check off the list in order to sell quickly online? (44:49) - Is something like the founder wanting to exit immediately listed on Microacquire or does that only come up in conversations with buyers? (46:56) - Does Microacquire cut out intermediaries like investment bankers? (49:36) - How does the buyer and seller communicate with each other? Do they need to use platform-approved legal templates? (56:15) - How are the smaller buyers financing deals? (59:44) - How are you going to crack the code to get $100+ MM companies onto the platform and do you plan to bring non-traditional companies on to sell? (1:03:44) - Dealing with Team Members Either Knowing or Not Knowing the Business They Work For Is Up For Sale When It’s Listed on Microacquire (1:06:29) - Launching Bootstrappers.com & Beefing with Tech Crunch (1:12:15) - How does a company know if they should go raise from a VC or not? (1:16:57) - The #1 Reason For Start Up Success TED Talk: The Single Biggest Reason why Start Ups succeed (1:18:12) - Why did you choose to build in public and what have been some positives/negatives of the experience? (1:20:01) - How do you build a ‘fun’ company? (1:23:46) - Is it harder to build a fun company when you’re fully remote? (1:26:11) - Is a hotdog a sandwich? (1:26:49) - What’s the best advice you’ve ever been given? (1:28:44) - How can people find you or Microacquire Website: www.microacquire.com  Email: Andrew@microacquire.com Twitter: www.Twitter.com/agazdecki The FORT is produced by Johnny Peterson & Straight Up Podcasts

Vincent Knipp is a Senior Managing Director of Investments in Marcus & Millichap’s Dallas office, where he specializes in net lease investment sales across the United States. Knipp has been the #1 Net Lease Agent in Texas and consistently ranks in the Top 10 Nationally within Marcus & Millichap’s National Retail Group. Over the course of his career, he has closed more than 350 transactions totaling nearly $1 billion in volume in 29 states. On this episode, Chris and Vince discuss the market for single-tenant NNN assets, 1031's, what makes a good investment in this asset class, what makes a great broker, and a lot more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ (02:14) - Vince’s Upbringing and Early Career (05:11) - What were your first years as a broker like? (07:06) - What’s the mythical ‘database’ that all Marcus agents build? (08:20) - What did Marcus teach you about making your first calls as a broker? (10:19) - What makes great retail? (12:47) - Why do you put all the multi-tenant buildings with your partner? (15:33) - Who are the typical sellers you work with? (19:56) - Who are the typical buyers you work with? (21:32) - How do you value a property in a major metro vs. a smaller town? (24:14) - In markets where rents are growing quickly, are there a lot of buyers who will buy on a 2 cap and wait it out? (27:01) - Ground Leases vs. Fee Simple Deals (29:04) - What usually happens when a tenant leaves their building? (30:33) - Are all of these leases pretty much the same? (32:51) - Percentage Rent Clauses (33:54) - Rent-to-Sales Ratios (36:44) - Why do people leave? (38:02) - What other factors are there in leases that are desirable? (39:54) - Why do sales go down and is it usually tenant-specific? (41:33) - How much do you pay attention to the specific products your tenants sell? (42:29) - Are there ever demands from tenants that they’ll only sign unless you agree to not sell the building? (43:40) - How much does access matter to you, tenants and customers? (43:35) - All-for-One, One-for-All Scenarios of Tenants (46:26) - What are tenants requesting now that we’ve been through Covid? (48:39) - Has the upsurge in drive-through changed things permanently? (51:52) - Are cosmetic upgrades usually on the operator and not the landlord? (53:24) - What do you tell people in a transaction that costs 2x more than replacement costs?  (54:40) - Are there any up-and-coming tenants you have your eye on? (56:05) - How do you conduct due diligence without ever seeing the property in person? (57:48) - Do ghost kitchens make you nervous? (58:51) - What’s your favorite deal you’ve ever done? (1:01:51) - Will you do deals anywhere or are you only based in Texas? (1:02:32) - Is there a reason you’ve stayed with Marcus for so long? (1:04:17) - Is there a way to share information across all of Marcus’ agents? (1:05:45) - Is there anything in the industry that still really excites you after being in it for 15 years? (1:07:20) - Underwriting Deals with a Franchisee vs. a Franchiser (1:09:16) - What can go wrong once you’re under contract? (1:11:34) - How much volume are you expecting for the rest of 2021? The Knipp Group Mailing list (1:13:20) - How do you sell a ‘party center’ deal? (1:15:31) - What advice would you give to people getting into the industry today? The FORT is produced by Johnny Peterson & Straight Up Podcasts

Christopher P. Bloomstran, CFA, is the President and Chief Investment Officer of Semper Augustus Investments Group LLC. Chris has three decades of professional investment experience with a disciplined, value-driven approach to fundamental equity and industry research. Semper Augustus manages concentrated global equity portfolios of well-run, well-capitalized businesses with share prices trading below conservative appraisals of intrinsic value.  On this episode, Chris dives deep into his journey of founding Semper Augustus and his vast knowledge of Berkshire Hathaway. They also discuss his 2020 investor letter, what he thinks about the current market, value investing, and much more. Enjoy! (03:10) - Chris’ Background & Career at Semper Augustus  (08:07) - Was it a no-brainer to take over this family capital or did you have reservations about it? (14:06) - Has your investment strategy been set by the initial family capital at Semper Augustus? (21:19) - What does ‘fundamental, value-driven investor’ mean to you? (27:55) - What did you mean in your 2020 letter when you said it’s the point of no return? 2020 SAI Letter - The Point of no Return (40:48) - If you were elected to be the Fed Chairman, what would you do? (49:26) - How do you get inspiration for new ideas and how much time do you spend about adding new things to your portfolio vs. thinking about what you already own? (54:39) - How do you help your analysts ‘clean up the universe’? (1:00:42) - Does China’s direction worry you? (1:05:41) - How do you determine whether an org is practicing accounting integrity? (1:16:30) - Is there anything that more people should understand about Berkshire that is often overlooked? (1:24:53) - Is there something you think Warren should be doing with the cash on his balance sheet? (1:33:39) - Are you pleased with how Berkshire handled their covid situation? (1:41:36) - How do you think about a Berkshire without Warren Buffet? (1:51:31) -   What is one business that you wouldn’t invest in, but that you also wouldn’t short? (1:56:47) - How can people follow you and find your business? The FORT is produced by Johnny Peterson & Straight Up Podcasts

Molson Hart is the founder and CEO of VIAHART, an educational toy company, and a co-founder of Edison, an intellectual property-focused litigation financing firm. On this episode, Chris and Molson dive deep into the process of selling on Amazon. They talk about Molson's journey to China and how he was able to learn the manufacturing process and implement that into a successful Amazon store. They also discuss the difference between American and Chinese Business culture, how he chooses products to sell, the good and bad of Amazon, how to know if you're making a 'great' product & more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ (02:47) - Molson’s Story Leading Up to VIAHART and Different Companies He’s Been Involved With (05:10) - Molson’s Experience Going to China to Work With Manufacturers  (14:03) - Was VIAHART launched at this point or were you just a guy selling a few products? (15:00) - Chinese vs. American Business Culture (17:50) - Do you gain more leverage in China the longer you’re there or are you always one step away from being screwed? (19:34) - When did you make the shift away from brick & mortar and into e-commerce? (23:07) - How did you know which products would be most profitable like glassware and towels? (26:35) - What’s the process for ‘launching’ a product on Amazon at scale? (32:15) - What’s your goal for Brain Flakes in terms of growth? (34:42) - How do you add to your roster of 300 products and how do you do that with only 8 people? (37:26) - Why is it a smart business decision to sell plush animals? (39:26) - Is there a reason why you play in the toy category? (40:23) - How do you fight copycats? (43:15) - Is there anything going on in China that the average person getting into e-commerce isn’t thinking about? (45:17) - Molson’s 8-person Distributed Team and How They’re Managed (47:51) - How are your overseas employees different? (49:08) - What’s the process of selling on Amazon? (50:18) - What’s the good & bad about working with Amazon today? (54:47) - Do you worry about Amazon copying your products? (55:56) - Molson’s Story Getting Suspended from Amazon (57:40) - Molson Going to Speak In Front of Congress (59:05) - Are there Amazon alternatives that interest you? (1:01:43) - What’s the process of same-day delivery like? (1:03:05) - What’s your strategy for the business going forward? (1:06:13) - What would make Warren Buffet or Charlie Munger want to buy Brain Flakes? (1:08:35) - What advice would you give someone wanting to get into e-commerce? (1:10:42) - How does someone with 0 product experience know that it’s being built the right way? Twitter Questions (1:12:31) - Why are these ships just sitting there and not coming into port? (1:15:19) - Was China ever as locked down as America? (1:16:46) - Why do you feel comfortable being combative on Twitter? (1:18:13) - “Advice is BS unless it’s from someone who’s been there/done that” is that always true? (1:20:01) - If you couldn’t buy products in China, where would you shift production? (1:21:02) - Can we ever get to a point where automated toy production is possible in the USA? (1:22:30) - How much better are Amazon conversion rates compared elsewhere? (1:23:10) - How can people find you and your business? Twitter: https://twitter.com/Molson_Hart BrainFlakes  VIAHART: https://www.amazon.com/viahart The FORT is produced by Johnny Peterson & Straight Up Podcasts