Shownotes
Dan has built himself a great team and a great life for sure. But be clear, Dan says the team is the reason not the result. The levels of depth with his team members allows him to dabble in other things like PL. But what separates Dan is that he puts his money where his mouth is with training his management team with PL training, not keeping it to himself. You see he realizes he is the limitation in his business and by expanding the knowledge base across the team it multiplies the results. Again, this is why Dan and his team are so successful.
Formula:
(Hard Work X Determination X Perseverance X Brains) X Team Power = Unbelievable success
Sponsors
Gaye’s Million Dollar Arbitrage List
Transcript: (note- this is a new tool I am trying out so it is not perfect- it does seem to be getting better)
Stephen: [00:00] I’m excited to talk about my sponsors today, Gaye Lisbey’s million dollar arbitrage group. Amazing, amazing group. This is a teacher. This is a Gaye, was a teacher. She is a teacher. Still. You need to learn. This is the type of environment you want to be in because she’s going to help you understand why, and I think that’s the hardest part of this business is understanding why. Why is the red one popular when the green one isn’t? Well, there’s usually a reason and what gay does is probably parsed that better than anybody and she’ll explain the reasons for those things. I think that’s really powerful. Yes, she puts out a list. You’re going to get a good use of that list if you get in the group. Now here’s the deal. The group isn’t always open, right? So you get on the waiting list and you can join the waiting list through my link.
Stephen: [00:46] Doesn’t cost anything to get on a waiting list and if you like her service, which I find that most people do that, that’s why there’s not so many openings. Um, you’ll be with her for a long time. And so it’s amazing, freedom [inaudible], she’s part of Andy Slamon’s group, amazing freedom.com. Forward slash momentum. And you’re going to get in to the waiting list. That’s all I can get you on right now. You can use my name and see if that gets anywhere. But what I like about it, what I like about what they teach in that group or the things that are going on, you know the current things. I’ve seen a lot of stuff going on about stores going out of business. While here’s where an opportunity is, here’s why you want to do this. Hey, be cautious about this, you know, toys r us coming out, you’ve got to think about this and that’s the learning that you need to do.
Stephen: [01:30] And Gay is better than anybody else I’ve seen. So amazing. Freedom Dot com. Forward slash momentum will get you to the waiting list. Then hopefully I can get you in the group and then you’re going to see me in there and we can chat anytime you’re ready. Karen lockers, group solutions, the number for ecommerce solutions for e-commerce dot com. Forward slash momentum. It’s going to save you 50 bucks. Karen’s our account manager. We recommend her to everyone because she’s done so well for us. I mean, that’s quite frankly the reason we’d been paying her for last few years, but she’s become an important part of our team. Her and her team are so involved in our account. I just see the emails coming back and forth, hey, we did this for you. I just saw two listings today. I’m like, wait a second. Why did they show up?
Stephen: [02:09] I didn’t put any listings up. They got a. They got a set off to the side by Amazon and they reactivate them for me. You know what I mean? That’s the stuff that just happens when you have a strong team and I can’t recommend Karen enough if you use my code momentum. Karen pays me. I don’t want to hide that. Of course we all know that, but you’re going to save $50 and it’s a great opportunity to really, really build out your team with somebody you can trust. That’s why I recommend them. So solutions for e-commerce solutions, the number for e-commerce dot com, forward slash momentum going to save you $50. Oh, and by the way, she’s going to do an inventory health report. Why is that important? Well, guess what fees are going up. Is your inventory health number declining like ours is? Well, here’s why and what they can do.
Stephen: [03:00] What I like is I get a spreadsheet from them and it says, Hey, here’s a bunch of inventory, here’s what we recommend. And I’m like, Yep, re refund. I mean a delete a returned us blah blah blah, whatever it is. And it’s are destroyed and it just happens. That’s what I like. The other thing that I have Karen helped me with a lot is creating new listings. You know, we do a lot of the researchers, we upload our images and then boom, magically the listing goes live and I don’t have to worry about it. Those are the services that can run offers. Can’t recommend her enough solutions for e-commerce dot com, forward slash momentum. Save 50 bucks, use my code. You save $50 a month every single month and it’s a great service. Plus you get that free inventory health report. I think it’s a really powerful way, so I can’t.
Stephen: [03:45] I’m so excited how many people have been joining here because I see it and I’m excited because of the messages I get from people are saying, hey, this is great. I finally feel like I can focus on something else because Karen and her team are watching this for me and you know, I highly recommend her next solar lamps and scope. Then we’ll sit it wrong. It’s amazing. It really is amazing when you sit back and think about, hey, I want to get this product up and it’s similar to this product and that’s what that product does well, well therefore, if that product does well, they have the right keywords, they’ve chosen things correctly, so guess what? You scope and you could see all that stuff and that’s what the most powerful thing in the world is to copy somebody who’s done it right. That’s what you want to.
Stephen: [04:29] You want to take advantage of that, right? I mean it’s, it’s fair a to c and so therefore you can take and apply it to your listing and immediately get that same benefit. That’s what scope does for me. Seller labs dot [inaudible] forward slash momentum. It’s going to save you $50 on service. Oh, by the way, it’s free to try. So sign up, try it and say, oh, this is how it’s done. Boom. And then you’re going to see the lights going to go on and you’re going to be like, man, I can get my products out there. I just can’t wait. Can’t wait. So we’re labs [inaudible] forward slash momentum. The other day I bought another domain. Yes, I bought another domain. It’s almost like A. I’m admitting guilt, but it’s because I had an idea and it was something that was a pretty good idea I think is going to go pretty far.
Stephen: [05:18] And so what do I do? I go to try go daddy.com forward slash momentum and save 30 percent. So domains aren’t very expensive. You get a few services. That adds up a little bit and I usually buy three years. I usually buy privacy by the way, I recommend that to buy that. It’s not that much money, but when you can save 30 percent it makes it that much sweeter and it makes it easier when you’re buying domains and especially if you buy a bunch of domains. I am a domain collector and so I do tend to do that, but that 30 percent makes it a lot easier and I used to go down because what I like is I can pop in an address I’m thinking and it’ll say, nope, nope, try this version or try this extension and then boom, there it is. Hey, you better hurry before it goes away and the right, you know.
Stephen: [06:01] And so try go daddy.com forward slash momentum. Thirty percent. Also want to mention about grasshopper. Who was that? Just talking to somebody the other day and they were like, Oh yeah, use this company called grass. I’m like, dude, did you buy through my link and save 30 percent? Hello? Know they miss that. So save 30 percentage, try grasshopper.com forward slash momentum. No surprise there, but you’re going to save 30 percent. And what the real cool part about that is they’re using it for their private label business and it gives them virtually a second phone on their current phone without having to get another number. They can make up a vanity number. They don’t have to go and do all the grief and sign loan contracts. Pretty easy stuff. And so if you’re creating a brand that you want to identify, you want to look professional, you want to look like a real company. Grasshopper is a great tool. It’s an app you put on your existing phone and boom, you now have a customer service to you. Now have a sales department, didn’t have a manufacturing division. You could forward it to somebody else. You can have it go to different voicemails, different departments, and it’s all included. So try grasshopper.com, forward slash momentum. Save 30 percent.
Cool voice guy: [07:13] Welcome to the e-commerce momentum podcast where we focus on the people, the products, and the process of e-commerce selling. Today. Here’s your host, Steven Peterson.
Stephen: [07:27] Welcome back to the ECOMMERCE marketing podcast. This is episode 297. Dan Wentworth. Now Dane was on the show, episode one 72. His story’s incredible. I mean, it’s just a story of, you know, just being, um, in corporate world rising to corporate management, uh, having a lot of responsibility doing a side hustle it growing to scale to over a million dollars on Ebay. I mean, it’s amazing. But then how growing it or hitting that wall, hitting that capacity overload, um, and this is back when Ebay was even harder than it is today, but he had success at it. So clearly he knows how to run a business. Clearly he knows how to scale. And then he finds out about Fba and the world just changes for him. And in know short version is he’s got three locations, multiple, um, you know, doing many millions of dollars in sales and now grows out into private label.
Stephen: [08:21] And that was the original episode. But now we take it a step further because he’s reinvested in private label. He’s going not all in. I was so, so blown away. By the end of the conversation, you absolutely have to listen to the end because his plan for his business, he’s not running away from ray and I think I’ve heard so many peoples have got to get out of this. I’ve got to get out of this, know what if you could keep it, but you just fine tune the process and that cash then allows you to grow maybe a private label, maybe wholesale, whatever. It’s very refreshing to hear Dan explain what his plans are for his business and I, I think that pearls of wisdom that he offers really are some of the best I’ve heard. If you want to get into private label, we’re into wholesale heavily. The pearls of wisdom, especially towards the end, really will help you get there and get there successfully and be ready when it’s time to focus. Let’s get into the podcast. All right. Welcome back to the e-commerce momentum podcast. Very excited about today’s guest. He’s a return, a interview episode. <Unk> is the background information for Dan went and worth welcome back. Dan.
Dan: [09:30] Thanks for having me.
Stephen: [09:31] It is great to have you back. Dan and I were just together, um, this past week for a private label conference in Orlando. Um, you know, I was thinking about, I was thinking about this is the second time you’ve attended and I was thinking about what kind of person builds up this huge business pivots as in private label spends the money, you know, a year or two years ago, whatever it was, spends money invested in it and does it, and then decide, you know, what, I want to invest more. I’m going to take two more people and spend a lot more money and send them to this event. What, what, what goes through your mind? What were you thinking that was going to do for you?
Dan: [10:17] As you mentioned? I was pivoting so I wasn’t exactly sure which way I was going to go. Looking into wholesale, I looking into private label and I went down to the retreat last year and it just blew me away. The level of content and the training that we got just fired me all up for private label so we can. We proceeded from there to see which way we’re going to go, private label wholesale and private labels seem like the most viable alternative process. People make an account at wholesale as well, but we call it, that suited us best, but I was having trouble pulling my team because we have a very big [inaudible] out of having trouble redirecting them to focus with me on private label. Plus I was in a lot of it myself, so I have a couple of really strong players in our Home Office in Massachusetts and I wanted to bring them on board and I knew what that retreat did to me and how it fired me up and gave me the tools I needed. So I said, well, it would be a great investment to put them through the same training.
Stephen: [11:15] Thinking about that last year, so it was a year ago, a little more. So thinking about that, how different was this version compared to the other version?
Dan: [11:29] The concept was the same, but the materials were quite a bit different. They just went through different processes. Um, this, this particular retreat they brought in a lot, but in addition to Lee, Ron [inaudible] and doing their usual stellar job, they brought in some specialists. It kind of opened our eyes to OK, once you get your private label than what are you going to do with it. And I would say the difference between last year this year was this year we talked about building a brand where last year was more focused on finding private label items.
Stephen: [12:03] No, no, I was going to say you’re right. I mean that is a very key point that, that has changed, right? It used to be where you find a product, launch it, find a product launch and find a product, launch it, that was the key. And you knew there was a shelf life to that product, right? You knew you were only going to have it for a period of time. The market gets saturated, think barbecue gloves get saturated, then you’re done. But as you said, Whoa, wait a second. Now we’re trying to build a brand. So this is a long game. I mean, how about you? So what does that do for your product? Your product, right? You’ve got a very strong product, you see nothing but opportunity. And what was so cool was that you got better ideas because you brought that idea out to others. You were open and shared. Um, do you think you have a brand potential?
Dan: [12:50] I absolutely think I have a brand protector. Yeah. I was hoping going in that we did, but did not see the, what I envisioned was a lot, not as grand as I call one. One thing come out of the conference, you know, Dan Miller was there, he talked...