Tom is the founder and CEO of Fancy Awesome, an Austin-based Analytical Marketing Agency that specializes in Amazon advertising and store management, paid search, and social advertising, as well as video advertising, and web site development.
With a business model tightly intertwined with 3rd party services, Tom discusses the challenges he has faced over the years while still achieving steady, seven figure growth. By building a model focused on “testing” new ideas on a small scale before larger investments are made, he has been able to build and grow a successful team and company.
Key Takeaway: A growing, successful entrepreneur journey leaves a trail of failures in its wake. If you take the mindset of “fail quickly”, you can learn and adapt before investing heavily in new, unproven projects and markets.
Fail Fast – Launch small scale efforts to test the market before investing in building out the complete solution. Leverage technology and SaaS offerings to launch and test new ideas quickly with minimal cost and risk.
Build with Balance – Sales and operations (and finance) are all critical aspects of your customer flow. Do not overengineer one area, leaving other areas of the business weak.
Evaluate (and re-evaluate) your Pricing – Continue to track and monitor the pricing and profitability of each product or service offering to ensure that they are a good investment of resources.