The Ecomcrew Ecommerce Podcast

Mike reflects on the podcast as we hit our 500th milestone episode by exploring the profound power of time. In this special solo episode, Mike delves into the importance of time in various aspects of life, including investment, business, and personal growth. Welcome to this special milestone episode of the EcomCrew Podcast as we celebrate our 500th airing. Today, I'm putting on my philosophical hat to look back on the podcast and to guide you through my podcasting journey since the show started back in November 2015. In this solo episode, I delve into the profound power of time, which can be both a potent tool for positive change and a formidable obstacle. It can be short, or it can be longer than you think, but in the end, we'll never know how long our time on Earth will be. However, it's important to maximize the time we have as much as possible. It's incredibly important never to rush, especially in investment, business, and personal growth. I'll share my own personal experiences with how it's been the backbone of my stock and real estate investments, my businesses and content creation, showing the significance of long-term commitment and consistency. I'll also explore some of my favorite books that have shaped my thinking and business approach. Timestamps: 00:00 - Introduction 00:33 - Postscript 03:17 - Exploring the power and challenge of time. 05:20 - Importance of investing early and the magic of compounding interest. 07:10 - Experience on navigating competition in the e-commerce podcast realm. 09:13 - Persistence and consistency: Keys to long-term success. 14:10 - Sticking with one venture for long-term success 17:07 - Time as a finite resource: Why proper management is critical. Drawing from my journey with the EcomCrew podcast, there were times where I wanted to quit but consistency was key. Success is never an overnight event, but a product of relentless efforts invested over time. I can't help but stress the importance of consistency, long-term dedication, and effective time management. It's important for listeners to foster a long-term perspective in their business goals, steering clear of the "shiny thing" syndrome. Don't forget to leave us a review over on iTunes if you enjoy content like this. Happy selling and we'll talk to you soon!

Mike interviews ecommerce lawyer Steven Weigler, who shares his expert knowledge on the legal aspects of starting, growing, and exiting an e-commerce business. We delve into the importance of legal protection, due diligence, and having the right processes in place for e-commerce businesses. Topics covered include intellectual property, privacy policies, product packaging, and governance, as well as the challenges faced by entrepreneurs and the value of having a skilled lawyer by your side. I wanted to get Steven on today to help listeners learn how to avoid potential issues that can negatively impact the value of their businesses and delay the sale process. Timestamps: 00:00 - Introduction 00:25 - Steven's background in law and entrepreneurship, and the role of lawyers in e-commerce businesses 01:58 - Legal aspects and the importance of a clean legal strategy for e-commerce businesses 03:48 - Legal pitfalls to avoid and the significance of trademarks 07:23 - Key elements for developing a legal strategy, such as intellectual property and privacy policies 13:12 - Understanding different business stages and appropriate legal operations 14:19 - Importance of building a strong relationship with an attorney 16:24 - Clearing your brand name to avoid future costly issues 19:15 - Navigating business divorces and the need for proper governance 20:53 - Legal protection and good processes for e-commerce businesses in larger deals 25:47 - Mitigating risks and challenges in e-commerce through a good lawyer and a strong network 28:20 - Preparing for inevitable legal issues in business 29:51 - Steven Weigler's law firm, Emerge Console, and resources on LinkedIn This podcast episode features valuable legal advice and strategies provided by Steven Weigler to help e-commerce businesses succeed and avoid costly legal problems. By engaging a lawyer early on, maintaining a clean legal strategy, and being proactive in legal matters, entrepreneurs can better position their companies for potential exit events or acquisitions. Furthermore, understanding the legal aspects and due diligence processes required to protect their business value can enable business owners to implement a strategic approach to intellectual property, privacy policies, product packaging, and governance, minimizing potential issues and maximizing their value during the sale process. This episode serves as a valuable resource for e-commerce entrepreneurs seeking to strengthen their legal foundation and safeguard their businesses.

The focus on today's episode is on the challenges faced by Amazon sellers, particularly from Chinese companies and sellers who engage in these practices. Karl from Stonington Global joins the discussion to shed light on the lobbying efforts to educate lawmakers about these issues and advocate for a fairer e-commerce environment. This episode highlights the importance of creating a level playing field for all e-commerce sellers and the impact of unfair trade practices on consumers. Timestamps: 00:00 - Introduction 02:36 - Unfair trade practices on Amazon 03:00 - Lobbying efforts by tech giants 06:21 - Amazon's public relations efforts and challenges for small businesses 08:59 - Consumer impact and importance of domestic manufacturing 12:25 - Vulnerabilities of global supply chains 14:07 - Government crackdown on Amazon and challenges for US businesses 15:44 - Draft legislation and the proposed FTC study 18:54 - Karl's personal story on dealing with Amazon 21:16 - Encouragement to share stories and put pressure on Amazon 23:48 - Support for Karl's cause and spreading the message As the e-commerce industry continues to grow, the need for a level playing field becomes increasingly important. Unfair trade practices, particularly those perpetrated by Chinese companies and sellers, present a significant challenge for Amazon sellers and have a wider impact on consumers. However, by advocating for change and educating lawmakers, we can work towards creating a more equitable e-commerce environment. This episode encourages listeners to support Karl's cause, and work together to create a better future for all e-commerce sellers and consumers. Visit EcomCrew for more content and e-commerce courses, and until the next episode, happy selling!

In this EcomCrew Podcast episode, Daniel and I delve deep into the world of email marketing and retention marketing in the e-commerce industry. We share our their experiences and insights on why email marketing remains an essential tool for businesses, despite predictions of its decline. We also touch on the importance of building community and trust with customers, and show successful examples of companies using email and SMS marketing effectively, as well as the potential of loyalty programs to drive business growth. Timestamps: Intro - 00:00 Daniel's e-commerce and email marketing journey - 01:14 Email's continued effectiveness despite claims of its decline - 04:05 The rise and fall of Messenger chatbots - 06:06 Differences between consumer and business owner email inboxes - 07:26 Decreasing open rates in MailChimp's report - 08:35 Generating revenue through trust and community-building content emails - 10:19 Engaging customers with community photos, tips, and tricks - 11:11 Good email marketing's impact on small businesses - 14:36 A lack of good e-commerce email marketing examples - 16:16 Measuring time between first, second, and third orders - 20:37 The potential of SMS marketing - 22:41 Generating additional revenue through loyalty programs - 26:29 Learning from big brands with effective loyalty programs - 33:55 Email marketing has proven to be a powerful tool in the ever-evolving landscape of e-commerce. It is crucial for businesses to create engaging content and focus on building trust, community, and lasting relationships with their customers. With that being said, companies should also concentrate on customer retention and repeat purchases by leveraging effective email and SMS marketing strategies and implementing well-designed loyalty programs. Successful loyalty programs not only boost customer engagement and sales but can also significantly raise the company's valuation. Businesses should look to learn from the successes of established brands with effective loyalty programs and adapt their strategies accordingly. I want to thank Daniel for taking time out of his busy schedule to discuss the landscape and future of email marketing. If you want to know more about Daniel and his business, check out the links on his site and his podcast below. Budai Media The Ecom Show Podcast Lastly, don't forget to leave us a review on iTunes if you enjoyed this episode. Until the next one, happy selling!

In this EcomCrew Podcast episode, Daniel and I delve deep into the world of email marketing and retention marketing in the e-commerce industry. We share our their experiences and insights on why email marketing remains an essential tool for businesses, despite predictions of its decline. We also touch on the importance of building community and trust with customers, and show successful examples of companies using email and SMS marketing effectively, as well as the potential of loyalty programs to drive business growth. Timestamps: Intro - 00:00 Daniel's e-commerce and email marketing journey - 01:14 Email's continued effectiveness despite claims of its decline - 04:05 The rise and fall of Messenger chatbots - 06:06 Differences between consumer and business owner email inboxes - 07:26 Decreasing open rates in MailChimp's report - 08:35 Generating revenue through trust and community-building content emails - 10:19 Engaging customers with community photos, tips, and tricks - 11:11 Good email marketing's impact on small businesses - 14:36 A lack of good e-commerce email marketing examples - 16:16 Measuring time between first, second, and third orders - 20:37 The potential of SMS marketing - 22:41 Generating additional revenue through loyalty programs - 26:29 Learning from big brands with effective loyalty programs - 33:55 Email marketing has proven to be a powerful tool in the ever-evolving landscape of e-commerce. It is crucial for businesses to create engaging content and focus on building trust, community, and lasting relationships with their customers. With that being said, companies should also concentrate on customer retention and repeat purchases by leveraging effective email and SMS marketing strategies and implementing well-designed loyalty programs. Successful loyalty programs not only boost customer engagement and sales but can also significantly raise the company's valuation. Businesses should look to learn from the successes of established brands with effective loyalty programs and adapt their strategies accordingly. I want to thank Daniel for taking time out of his busy schedule to discuss the landscape and future of email marketing. If you want to know more about Daniel and his business, check out the links on his site and his podcast below. Budai Media The Ecom Show Podcast Lastly, don't forget to leave us a review on iTunes if you enjoyed this episode. Until the next one, happy selling!

In today's episode, Jake is back to discuss the findings from their annual State of the Amazon Seller Report; on topics like Amazon Seller Profitability, the effect of tariffs and freight costs on sourcing decisions, the changing landscape of Amazon advertising, and the importance of diversifying your online presence. This comprehensive report surveys more than 2,000 Amazon sellers, providing critical insights into the latest trends, challenges, and opportunities in the industry. Timestamps: 00:00 - Introduction and overview of the State of the Amazon Seller Report 01:25 - Importance of the report and how it helps sellers benchmark their performance 03:35 - Discussion on the trend of sourcing from China vs. the United States 07:32 - The impact of tariffs, COVID, and logistics on sourcing decisions 09:37 - Challenges in finding US-based suppliers and potential business opportunities 11:32 - Strong profit margins reported by Amazon sellers 12:37 - Comparing the profit margins of Amazon sellers to small businesses in the US 13:25 - The challenges of running an Amazon-only business vs. an off-Amazon brand 15:39 - The benefits of selling on Amazon, including ease of customer acquisition 17:30 - The learning curve associated with starting an Amazon business 18:38 - Interest in tracking the trend of net profit for Amazon sellers 19:33 - Increase in profitability for surveyed sellers 20:18 - The challenges and additional costs of running an e-commerce business 23:43 - Challenges with Amazon fees and the need to pivot 24:18 - Shifts in advertising spend across platforms 25:17 - Using influencers for advertising and video creation 27:24 - Trends in Amazon advertising and FBA fees 29:05 - Exploring Google ads for more cost-effective advertising 30:42 - Benefits of off-Amazon advertising and organic search rankings 32:47 - Top product categories and market trends 35:40 - Discussing changing product categories in the report 37:20 - Top challenges for Amazon sellers 38:14 - Issues with optimizing product listings 38:49 - Introducing AI Assist for Jungle Scout 40:23 - Productivity benefits of using AI Assist 42:42 - Main topic: Top concerns for Amazon sellers 43:17 - Increasing cost of goods and its impact on sellers I want to thank Jake for joining me for this very insightful episode. If you want to dig deeper, check out the full 2023 State of the Amazon Seller Report here. Lastly, don't forget to leave us a review on iTunes if you enjoyed this episode. Until the next one, happy selling!

With Seller Summit 2023 coming up in May, Mike and Steve Chou reflect on the value of events, revisit some of their favorite memories, and how its impacted their lives in more ways than one. Masterminds are one of my favorite segments of a live event. Whether it be EcommerceFuel, Seller Summit, or whatever event that takes place, Masterminds give everyone an opportunity to voice out their problems and get actionable advice from a like-minded group of people. Steve and I first met during Andrew Youderian's event, at a Mastermind where Steve asked the table for a critique of his website, and we've been friends ever since then. This episode is more of a fun recap rather than an actionable advisory, but there's a few takeaways to learn from this episode. You'll learn about The costs of cranking up, and keeping your work burner as high as possible. How opening up and trusting like-minded individuals can be more valuable than you think. Why it's good to have a group of friends that can't relate to your entrepreneurial lifestyle. Timestamps: Intro - 00:00 An overview of what Seller Summit is, and how it's different - 2:42 How Mike and Steve Chou met for the first time - 5:06 TAKEAWAY #1: Masterminds give you the advice you need to hear, without the fluff - 7:33 How Steve Chou got into selling on Amazon - 9:58 How Steve Chou got marital advice at a Mastermind - 12:22 How Steve Chou saved Mike's marriage - 14:08 How Steve Chou made $60k in 90 minutes - 18:03 How Mike deals with old friends who aren't in eCommerce - 20:51 Why venture backed businesses are a different gamble - 23:40 Steve and Mike's experience investing on an eCommerce business together - 25:15 Why it's important to surround yourselves around those who trust you - 27:55 How events during the pandemic weren't the same - 33:55 Seller Summit 2023 details - 36:08 Lots of thanks to Steve for doing this episode with me. If you're thinking about going to Seller Summit, here's a link with a special discount code for Ecomcrew listeners. You can check out all of Steve's other awesome stuff over on mywifequitherjob.com. If you enjoyed this episode, don't forget to leave us a review on iTunes. Until the next one. Happy selling!

Dave talks about his recent experience traveling back to China after three years of lockdown, from airport and visa requirements, things to do for ecommerce sellers, and cultural shifts. China, the factory of the world, has once again opened its doors to foreigners after several years of lockdowns and COVID restrictions. Fortunately for EcomCrew listeners, Dave just came back from his first trip to China post-COVID, and he'll be sharing some of the biggest changes you want to take note of when planning your own trip down south soon. This episode will cover things like China's current rules regarding old and new visas, practical tips for navigating customs and other travel requirements, and a few changes you might notice when in China. Timestamps: 00:00 – Intro 01:23 – China has started honoring old visas; How to secure new visas 04:09 – Flights to China are extremely expensive 05:57 – You need an online customs declaration when entering/exiting China 08:37 – Need-to-knows about COVID tests, vaccinations, and masking 11:15 – Should you head over to China for trade shows in the Spring? 13:26 – Big changes for foreigners traveling to China over the past three years 20:04 – Odd and fun things you'll notice when heading back to China this year 22:02 – Overall attitudes towards the west and Xi Jinping 24:40 – Final thoughts on going back to China Resources mentioned: China Customs Website Trip.com We hope this episode helps you strategically prepare and make the most out of your upcoming trip to China. Please do leave us a review on iTunes if you enjoy this kind of content. Happy selling, and we'll see you in the next one!

Mike and Gary talk about the perks of expanding an Amazon business to Japan, including the actionable steps to get started. Choosing the right marketplace is just as important as choosing which product to sell on Amazon. But there's one huge marketplace that US- and EU-based sellers may be sleeping on: Amazon Japan. Amazon.co.jp is one of the biggest marketplaces no one is talking about, with its over 600 million monthly visitors, domestic FBA services, and fewer competitors. Joining me for this episode is Gary Huang, who's one of our favorite guests on the podcast and is currently dominating the Amazon Japan marketplace as we speak. He'll give some valuable insights about the dos and don'ts of expanding to Japan as an established ecommerce seller, some actionable steps you can take to get started, and a lot of tips and tricks in between. If you're on the lookout for a profitable Amazon marketplace to expand into, definitely listen in. Timestamps: 1:05 – Are Amazon sellers sleeping on Japan? 3:44 – Japan's ecommerce market makeup—why it's a great opportunity for sellers 5:55 – The perks of selling on Amazon in Japan 8:37 – The right way to translate your listings to Japanese 9:25 – Why I'm pessimistic about continuing on the Amazon treadmill 11:37 – Differences between Amazon US and Amazon Japan 14:40 – How your costs are lower when selling on Amazon Japan 16:13 – Debunking some myths about selling on Amazon Japan 18:45 – Steps to get started selling on Amazon Japan 18:56 – Step 1: Product-Market fit analysis and the right way to do it 21:35 – Step 2: Checking Japan product regulations 24:12 – Step 3: Being aware of compliance and licensing 26:32 – Step 4: Transferring your Brand Registry to Japan 27:19 – Step 5: Get your translations done; Offer japanese language customer support 28:15 – Step 6: Localization 29:18 – Step 7: Getting ready to sell 30:11 – How to price your products on Amazon Japan and other marketplaces 31:54 – The first ever Amazon seller summit in Japan I wanna thank Gary for giving us yet another value-packed episode. If you're thinking about selling on Amazon Japan in the near future, be sure to check out the first-ever 7 Figure Seller Japan Mastermind in Tokyo this April 4-5 to listen in to some deep dives on Japan ecommerce from Amazon insiders, expert importers, and more. That's it for this episode. Don't forget to leave us a review on iTunes if you enjoy all our content. Happy selling and we'll talk to you soon!

"Every man has two lives, and the second starts when he realizes he has just one"— Confucius. In this episode, I'll be talking about the recent passing of my cousin and longtime business partner Jay, and the valuable lessons I learned from taking care of him during his final days. Dealing with the aftermath of a loss and the thought of one's own mortality can be difficult—even morbid—topics, but I've come to realize the infinite value of taking control of our lives, planning for the aftermath of our own passing, and getting our affairs in order for the sake of those we leave behind. Timestamps: 00:00 – Intro 05:10 – Becoming caretakers for our loved ones 06:55 – Schedule your annual checkup ASAP 11:36 – Getting your affairs in order 16:11 – Dealing with the trauma of loss 19:12 – The value of coming to terms with your own mortality I want to thank Jay for all the memories and everything we shared together. Please make sure to get that checkup and let me know if you can. It would mean the world if even only one person takes action because of this episode. Entrepreneur or not, always remember to prioritize your health and advocate for being prepared for the worst case scenario in this unpredictable life. Happy selling, and I'll see you in the next one.