We Live to Build 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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📚 NETWORK BEFORE YOU NEED IT (6 LESSONS THAT MADE SEAN $15M)
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▶ Get my eBook free - https://welivetobuild.com/network
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📈 WORK WITH ME
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▶ Buy 300 Lessons From 300 Founders: https://welivetobuild.com/300-lessons-ebook
▶ Book a Paid Advisory Session: https://welivetobuild.com/book-a-call
▶ Startup Fundraising: https://welivetobuild.com/fundraising
▶ Sponsor the Channel: https://www.welivetobuild.com/sponsorship
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👀 CONNECT WITH SEAN
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▶ LinkedIn: https://linkedin.com/in/seanweisbrot
▶ Inquiries: welivetobuild@gmail.com
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🕒 CHAPTERS
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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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