Firing The Man

THANK YOU TO OUR 25,000+ LISTENERS! We are so thankful to be one of the TOP E-Commerce Podcasts delivering high-quality authentic content to you! Serial Entrepreneur’s David Schomer and Ken Wilson share tips, advice, and insider knowledge about all things Amazon FBA, Walmart WFS, and E-Commerce. Discover how you can create multiple income streams by selling physical products online so that you can have the time and freedom to do what you love - whether that is spending more time with family or traveling the world. Ken and David have successfully created several six and seven figure online business ventures. During the journey, they have had major wins, losses, and lessons learned. This podcast will teach you about selling physical products online through platforms such as Fulfillment by Amazon, building a team, outsourcing, listing optimization, pay per click (PPC) advertising, driving traffic to your listings, and productivity tips / life hacks that will provide a path to be successful in building your online business. It’s a mix of interviews, special co-hosts and solo shows from Ken and David you’re not going to want to miss. Hit subscribe, and get ready to change your life.

Episodes

Mentioned books

Jan 17, 2023 • 48min

Interview with Reggie Young a 7-Figure eCommerce entrepreneur and Exit Planning Advisor

Jan 10, 2023 • 46min

Interview with Ryan Flannagan – Founder & CEO at Nuanced Media, Growth Driven Advertising Expert, Author

Jan 3, 2023 • 42min

Interview with Jacob Erdei - Entrepreneur and Google Ads Expert

Dec 27, 2022 • 31min

2022 Year-end Review of Our eCommerce Businesses

Dec 20, 2022 • 44min

Product Research, Filing a Patent, and Going from Corporate Accountant to Full-Time eCommerce Entrepreneur with Marc Sauer

In this episode we dive deep into Product Research, Filing a Patent, and Going from Corporate Accountant to Full-Time eCommerce Entrepreneur with Marc Sauer.Ready to scale your Amazon business? Click here to book a strategy call. https://calendly.com/firingtheman/amazon Support the show

Dec 13, 2022 • 49min

Price Testing for Increased Profits on Amazon with Hai Mag, Co-Founder of Eva.Guru

Hai Mag is the co-founder and CEO of Eva.Guru. Eva.Guru provides an AI-powered Repricing / Restocking / Reimbursement Platform for Amazon Sellers. Before co-founding Eva.Guru, Hai was involved in several entrepreneurial ventures in the eCommerce space including as a Tech Investor for Einstein Ventures Advisor for Algopix, as well as spending 15 years in the consulting space for companies like Oracle, IBM, and Accenture. In this episode, Hai talks about price testing in Amazon and everything you need to know to not only increase profitability but also manage your time efficiently as a seller through Eva.Guru.[00:01 - 04:34] Opening SegmentHai Mag shares his story and how they founded Eva by focusing on what value they can add to the brands on AmazonThe correlation between advertising, inventory and pricing [04:35 - 22:36] What You Need to Know About Price Testing Why price testing is important for private label brandsMany times people don’t know what the right price for the product is anymore because of inflationNot only does it help with testing for better profit but prices need to adapt to variables and ever-changing demandsThe psychology of pricing heavily affects conversionChecking the price changes is usually done manually by business owners which is time-consuming but Eva is a great automated help providing real-time dataHai Mag explains the mechanics behind Eva’s repricing and profitability featureHe recommends these options and features in the price testing: Sellers must know what is their accurate profit so they could enter the cost information The system does the rest using inventory and velocity-based pricingWant some Amazon refunds? Check out GETIDAPromo code: FTM400[22:37 - 42:11] Helping Business Owners through Eva.GuruEva looks at the conversion rate but the most important parameter is the velocityData should rely not only on the historical but real-time to determine the best resultCoupon codes don’t help conversion ratesApart from dynamic pricing, Haig and his team are looking at dynamic discountEva can find the price within a couple of days for new sellers given that enough data is availableKen and David saw an increase in their profitability within 14 days of using the software[42:12 - 46:22] Closing SegmentThe Fire RoundQuotes: “Almost every single Cost parameter, and the consumer expectations, everything is like volatile, everything is dynamic. So there is absolutely no reason left like to keep the price even for a month in a static way, on Amazon.” - Hai MagConnect with Hai MagWebsite: www.eva.guruLinkedIn: https://www.linkedin.com/in/growthjedi Send us a voice message and let us know how we can help you fire the man! Facebook, YouTube, Instagram Resources MentionedGETIDACapital in the Twenty-First CenturyEmail us at support@firingReady to scale your Amazon business? Click here to book a strategy call. https://calendly.com/firingtheman/amazon Support the show

Dec 6, 2022 • 54min

Practical Legal Hygiene for an Amazon Seller with attorney Paul Rafelson

Paul Rafelson is an eCommerce law expert and was the most-cited resource in the Congressional Antitrust Investigation into Amazon's mistreatment of sellers on the platform. He is a Founding Partner at Rafelson Shick, the #1 go-to law firm for online businesses facing legal challenges and digital sellers looking for the best deal when exiting their businesses. In 2021, they facilitated 60+ online business exits realizing over $238M for their clients.Paul is also the Founder of Online Merchants Guild (OMG), a trade association that enables thousands of online sellers to voice their concerns on various legal issues affecting them, where he volunteers as an Executive Director. OMG has played a major role in offsetting Amazon's growing political influence.In this episode, Paul talks about the common tax and legal issues encountered by Amazon sellers and how to protect yourself as a seller.[00:01 - 11:27] Opening SegmentPaul shares his story of paying his student loans from selling on e-commerce to being the founder of Rafelson ShickThe Global Small Business Phenomenon and how this led Paul to a career in helping e-commerce sellers[11:28 - 28:18 ] The Legal Trends You Need to Know About as an Online Seller About California Proposition 65It becomes increasingly favorable to foreign sellers as more rules are placed on American sellersDon’t use Amazon’s brand registry tool to knock off sellers from your listingFind out how you can get a professional law firm for E-commerce small businesses for as low as $9 by going to www.sellerbasics.comWant some Amazon refunds? Check out GETIDAPromo code: FTM400[28:19 - 45:38] Amazon Nexus: What It Is Meant to BeThe Commerce Clause in the constitution explainedEvery state has its own interpretation of NexusIt is Amazon's responsibility as a taxpayer to remit taxes under what's called a Marketplace Facilitator Amazon takes care of the tax remittance for its sellersFor any concerns about constitutional law, it is important that you exhibit common sense and seek guidance from legal experts[45:39 - 51:07] Closing SegmentThe Fire RoundCheck out Paul’s favorite book!Connect with Paul! (Links below)Quote/s:“If we're not in the forefront of the legislation of what is, you know, what is it is allowed, then it's going to affect what Amazon is going to affect the seller code of conduct.” - Paul Rafelson “The more rules and regulations that Congress in the States put on the American sellers, all they're doing is giving an advantage to the foreign-based sellers.” - Paul Rafelson Connect with Paul Rafelson Website: www.sellerbasics.com / https://ecomattorneys.com LinkedIn: https://www.linkedin.com/in/paul-rafelson-9082527 Send us a voice message and let us know how we can help you fire the man! Facebook, YouTube, Instagram Resources MentionedGETIDAMalcolm GladwellReady to scale your Amazon business? Click here to book a strategy call. https://calendly.com/firingtheman/amazon Support the show

Nov 29, 2022 • 52min

Navigating VAT, GST, and International Expansion for Amazon Sellers with Expert Kevin Sanderson

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

Nov 22, 2022 • 49min

Profitabilty, Cash Flow Management, and Budgeting for an eCommerce Business with Tyler Jefcoat from Seller Accountant

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@firinReady to scale your Amazon business? Click here to book a strategy call. https://calendly.com/firingtheman/amazon Support the show

Nov 15, 2022 • 31min

PPC Strategy for Q4 Holiday Sales with Expert Pat Lum from Asteroid X (Part 2)

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@firingthemReady to scale your Amazon business? Click here to book a strategy call. https://calendly.com/firingtheman/amazon Support the show

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