E150: Rebuilding a Million Dollar Company – 12 Month UpdateMay 31, 2018 in Ecom-Crew-Podcast
Last year Dave set out on a goal to rebuild another million dollar company in a span of one year. It has been a little more than 12 months since he set out with that goal, and today we have him on the podcast to talk about his results. Did he make it to that $1 million mark? Let’s find out!
But first, here’s a bit of a backstory. In October 2016 Dave sold his first ecommerce company, which was doing just under $2 million in revenue per year. He had a number of reasons for selling his company but one of them was that he felt it would be easier to recreate a million dollar company using the knowledge he’s gained running his first company over the past few years. He detailed his year-long journey building his second company in a blog post series you’ll find here.
In today’s episode Dave and I talk about his journey, and whether he was successful in rebuilding a million dollar company or not. We also talk about the challenges he encountered along the way, and what his plans are moving forward.
Some conversation points:
- How profit margins differ significantly during the first months of product development
- How much money a physical products business should devote to inventory
- Risk aversion
- His bad luck getting caught up in the effects of China’s first big snowstorm in years
- How big he wants his business to grow
Whether Dave succeeded in his goal or not, what he accomplished within 12 months is nothing short of amazing. It’s a great example for those just starting in ecommerce, whether they want to reach $1 million in revenue within a year or not.
Part 1: Rebuilding a $1million Ecommerce and Importing Business from Scratch
Part 2 – Rebuilding a $1m Ecommerce Business – Finding Products and Suppliers
PART 3 – REBUILDING A $1M ECOMMERCE BUSINESS First 60 Day Results
Part 4- Rebuilding a $1m Ecommerce Business – 6 Month Results
Million Dollar Update – 12 Month Update
Thanks for listening! If you have any questions about this episode, feel free to leave them below.
Head on to EcomCrew Premium if you liked this episode and would want to get more content like this. We have courses, webinars, video tutorials and more to help you in your ecommerce business.
Until the next episode, happy selling!
Full Audio Transcript
Mike: This is Mike, and welcome to episode number 150 of the EcomCrew Podcast. You can go to EcomCrew.com/150 to get to the show notes for this episode. And today I have my buddy, my partner in crime, my co-host, my partner with EcomCrew, whatever you want to call him David Bryant on the show. So glad to have him back now on Pacific Coast time. We’re getting a lot more stuff done together. It’s really, really cool.
And today’s episode we’re going to be going over his business, the business that he started almost exactly one year ago today after he sold his other business. He was trying to grow a one million dollar Amazon business in one year. And we’re going to talk about that in detail and see how things are going. We’re going to dig right into that on the other side of this break and we’ll talk to you soon.
Mike: Hey Dave, welcome back to the EcomCrew Podcast man.
Dave: Hey thanks, twice in two weeks.
Mike: I know, we might have to actually keep your face on the cover art at this point.
Dave: I know, I’m just hoping you keep me on the cover and on the intro or something related to that.
Mike: Yeah, you’re doing good man. It’s like it’s good to have you back on Pacific time now. I got to figure out something to hold up on my end of the bargain. I got to start writing articles or something.
Mike: I know, well kind of trying to coordinate with you has been a real nightmare too. I was looking at your schedule this week and like you have a meeting every half hour.
Mike: Yeah I know it’s been kind of crazy. We’ve been talking about just how things are different here lately and that’s been a big part of it. I mean we have a lot more employees now and people that are managing other things, I’m talking to them, and that’s kind of been my life lately. And we’ll see how it goes. I think when I get back from this trip that I’m getting ready to take it should be a little bit better because I’ll actually be here for a length of time, and I try to compress two weeks into one week every week. So we’ll see how it goes.
Dave: Well I think too that you’re trying to kind of position things where at some point things are going to become a lot easier for you because you’ve hired obviously Jacqueline as your kind of COO I guess. And eventually hopefully this all plans out where she’s got to managing the company and you are sipping margarita somewhere.
Mike: Yeah, well I’m going to be doing that in Cancun in a couple of days through the Million Dollar Summit, but we’ll get somewhere…
Dave: There you go; you’re already living the dream.
Mike: Yeah something like that. I wish I could get there without getting on an airplane. I’m like sick of being in an airplane these days. But enough about all that, let’s get into the real meat and potato we want to talk about today which is an exciting topic. You basically had set a goal about a year ago to build a million dollar business after selling your last business and taking all the things you kind of learned from that old business and applying it to continuous Amazon machine. And I’m excited talk about the results of that. And I think there’s a blog post on EcomCrew. I will link to it on the show notes about this as well.
But I haven’t really had a chance to talk to you about this much recently. We talked about it in Hong Kong, but I’m excited to kind of see where you’re at. I do know that you fell a little bit short of your goal, but let’s talk about that first, just kind of the top line numbers, and where you kind of settled out after a year.
Dave: Sure and I’ll give a quick summary of kind of what my goal was. So in October 2016 I sold my previous company, and by February of 2017 I was thinking, okay, what can I do now, I got to do something to kind of keep me busy and also I wasn’t in a position to retire for the rest of my life, so I needed something to still bring the money home and pay the bills. So I decided to create another e-commerce company with the goal of getting to a million dollars within twelve months.
Now when I see a million dollars I mean and a million dollar run rate. So basically I wanted to get to $80,000 a month more or less which basically works out to, averaged over twelve months that works out to a million dollars. So I set a deadline of April 2018 as my deadline. And April 2017 basically twelve months prior is when I first ordered my first batch of products from China. I actually placed the money down and that was kind of I guess the “official” start of my business. So just real quick…
Mike: Because that ordering in 2018 or April of 2017 sure as heck doesn’t mean that it was for sale then. So when did you actually get your first product for sale?
Dave: So kind of as is normal of China after I placed my deposit, it was about three months until the time that those products were actually received into Amazon and my 3PL and ready for sale. So it was about June when my first products became available for sale.
Dave: Now it probably would have been more fair to me to set a June deadline for that twelve months, but I kind of figured in my mind that a lot of what we’re doing here is we’re talking to people who are kind of first starting their e-commerce businesses. And they don’t care when the products come in because that three months that they’re waiting is like three more months that they’re working at their job or doing whatever they are doing that they don’t want to be doing.
So those are three real months that somebody is having to put in and wait if they’re starting their e-commerce company. So I wanted to set what was kind of a fair deadline. I thought as somebody first starting up.
Mike: Yeah. I think this is good. I got so many questions. I’m excited to cut through this because it shows the timelines, and what is realistic about having a business like this, and doesn’t set the unrealistic dreams and expectations I think that a lot of people put out there. So I think that’s this is really cool. So let’s just have a starting point here. I mean your target was 80K, what did you end up getting to in April of this year then?
Dave: So in April it worked out to $45,567.58.
Mike: So say 45K which would be 450 plus 95 – 400K run rate. So you’re a little bit more than halfway to your goal.
Mike: But even still I mean I think that’s pretty awesome. Like getting to a half a million dollar business within twelve months and realistically within nine because like again you just put the stuff up for sale in June. But I agree with your theory of why it was a good starting date, but at the same time as far as sales go it’s really hard to get that initial traction, and we’ll talk about some of that. But I think the thing that we always talk about on this podcast is profits are vanity and revenues are sanity. So let’s talk a little bit about that.
Dave: No, the other way around Mike, revenues are…
Mike: Did I say backwards? I was thinking about two things, I really said it backwards. That’s revenues are vanity and profits are sanity. If I said it backwards, I didn’t even realize it. That’s funny I said it backwards, at least someone was listening. I was checking to see if you’re listening. So yeah, on the profit number for that, was there profit on the 45K a month?
Dave: Yeah. So my gross profits worked out about 25%. So if you’d looked at everything after FDA fees, after customs, after ML freight, it works out to about 25%. Now with all e-commerce businesses there’s a lot of other stuff that gets taken off of that, overhead, accounting, customs brokerage fees, yadi yadi yada, and it worked out to — it’s more now closer to 10 or 15% after everything said and done.
Mike: It’s really good. I mean we have a hard time — I’m curious to see how you kind of went through this because personally in our business we’ve had a hard time getting to that net profit number on new products like this, because there’s a lot of upfront investment that you don’t have when you place a reorder. I mean just the simplest things of the sample fee. You probably had some samples sent over to you. I mean just little stuff like that that nickel and dimes you and having to pay to get the boxes on or insert design.
And we do all that in-house, but that gets attributed to someone’s salary because we’re looking at it pretty granular. And there’s all these fees that kind of add up for initial products. You got to build your email list and run some advertising to it, you’re going to be spending more inefficiently on PPC. So to get to a 10 or 15% net on a brand new business like this I think is awesome. Can you talk about some of things that you did to kind of keep those costs under control and be able to generate that revenue as efficiently as possible?
Dave: Now I should clarify, when I say that I’m at 10 or 15%, that’s in the last month. So last year when I’m developing this there was no 10 to 15% profit because like you mentioned there are sample fees, there’s air shipping fees, there’s development cost and there’s specifically packaging and sample these and all the other things that go with it. So it was not 10 to 15% of the previous twelve months. It’s closer — actually I haven’t even looked at it because I haven’t looked at my books for 2017 as a separate kind of year than 2018. I would imagine it’s probably closer to 5% in the previous twelve months.
Mike: Got you.
Dave: But from this month it’s 10 to 15%.
Mike: So you’ve already ramped up that machine that I was kind of talking about where you had that initial investment and now ten, and that’s I mean pretty damn respectable. You’re at a point now where like if someone was out there with a thought process of could I quit my job within a year and replace my salary, you’re at that point because you’re making 9K a month or I guess it would be 5 to 7K a month or something like that. I think that that most people can support themselves off of a salary like that. So I don’t think it’s unrealistic to say if you set a goal from one year from today to be able to support myself in a e-commerce business that that’s unrealistic.
Dave: Yeah I mean I think a year is probably pushing it just for the fact that it depends where you’re starting from. If you have a digital marketing background, that’s probably attainable. And if you have the cash to go with it I think for most people I still like tell people even my course students an 18 to 24 month horizon is definitely a lot more fair especially if you don’t necessarily have a ton of cash that you can plow into inventory. If you don’t have a ton of cash, then you need to basically be bootstrapping or reinvesting your profits over and over.
So I think for most people unless you have 50 to $100,000 thousand dollars that you can just plump down in inventory and you have a little bit of digital marketing background, I think 18 to 24 months is definitely more reasonable to the point where you can hopefully be making some type of full time salary. Maybe it’s not $100,000 salary from the get go, but it’s probably something that you can sustain yourself on.
Mike: Yeah and I mean lifestyle for you I mean is great. You get to spend time with your wife and kid and probably don’t work a full 40 hour week, and if you do it’s not like you’re in an office eight hours a day straight through and it’s a it’s a much better lifestyle I think.
Dave: Yeah, I mean I think definitely lifestyle; the flexibility is there for sure. I think we’re in two different boats. I have the flexibility where I can take off to China for seven months and take off golfing during the middle of the day if I want to, but developing this it’s probably been 30 to 40 hours averaged per week. So I don’t think it’s been me just finding a product on Alibaba and importing it, and forgetting about it. I mean there’s a lot of work that does go into developing a business like this from scratch.
And that’s probably something that I own up to. The nice thing is once you do get it up and running, now I’ve actually finally be able to relax a little bit because the products are developed. That’s the hardest thing for sure is getting all these products developed. By far that’s the biggest time suck. So now that hopefully that these products are developed, I’ve definitely started to see now that my time is able to relax a little bit more.
Mike: Yeah very cool. And I mean one of the things actually on my list that I wanted to ask you [inaudible 00:12:42] what did you set aside for an initial investment in inventory for this business?
Dave: I mean my logic is always that whatever your annual revenues are and you can share your opinion on this too Mike, whatever your annual revenues are going to be, you need roughly 10% in inventory. So if you have a million dollar goal, you need $100,000 set aside for buying inventory, if you have a $50,000 goal you need – if you have a $500,000 goal you need $50,000 set aside for buying inventory.
Mike: Yeah so that’s interesting. I never looked at it as a percentage of revenue. I mean we basically are trying to do four inventory turns per year, so we feel that we need 25% of what our COGS are going to be for the year. So it’s pretty close to the same number at the end of the day, we’re just not looking as a percent of revenue but it would probably be somewhere in the 10 to 15% of revenue. And we’re looking to be a 10 million dollar company this year, so we’re looking at having a million dollars in inventory by the end of the year, and we’re already at 800K.
Dave: Yeah, so there you go.
Mike: So that’s only close yeah. And of that 800K that we have, there’s probably about 100K of stuff that is a little bit slower moving that we’re looking to like just get rid of and liquidate and then replace it with other stuff. So we’ll probably still be close to that million dollar number by the end of the year. So I think that’s pretty fair and there’ll probably be some spikes of that number. Not probably, there’ll definitely be spikes of that number in the fourth quarter just being prepared for the holidays because you got to have more inventory at that time.
So yeah it’s a big number. It’s actually on our company dashboard and it’s enough to give me the night sweats sometimes because I look at that number, I’m like that’s a house, that’s a really nice house. It’s like a castle at a lot of part of the country. In California it’s just a dilapidated shack, but even still it’s still a house.
Dave: Well that was one of the biggest things that I see too where I was at $45,000 in April. I’m at roughly $55,000 now in May, but I think one of the things that held me back a little bit was the fact that that number started to increase, and get bigger and bigger. I’m like now we’re actually talking about real money here. And after I sold my company I think it was an okay exit, I was okay throwing like $15,000 in an order and if it sinks on a boat coming over to Canada, I don’t really care I can deal with that 10 or $15,000 loss.
But eventually the numbers would start to get real big where I’d start to think, well geez, is this a product really that I want to bring or maybe should I wait. And that was I think probably one of the big reasons why I fell short of a million dollar goal is that like you just talked about, that number that you have tied up in inventory does start to be really stressful. Whether that stress is justified or not I don’t know but definitely the feeling was very real.
Mike: Yeah there’s no doubt about it. It’s so funny that you mention this and this is a little bit of a side note from the main topic for today, but I went through that same thing. It was funny and everyone’s number is different, right? It’s all relative to like just your situation. If you’re in a situation like where you’re living paycheck to paycheck and you’re putting your first $5,000 of inventory on a credit card, that $5,000 number is going to be way different to you than someone that has hundreds of thousands of dollars in savings and just everything is all relative always.
So for me as we are putting like you said like the first 10 or $15,000 and just a jaded life that we’ve lived, it wasn’t that significant, and I was just like well whatever let’s just take a shot at it. But at some point that leverage definitely switched from him and just like wow that number is no longer something that I could just stomach losing all of in one day. I mean that’s always the way I think about it because we’ve had that type of thing happen in previous businesses.
And yeah I mean that number it’s a life change like a major life changing amount of money where you’re talking 800K or a million dollars. That’s an inventory that I can’t pay my taxes or my mortgage with. It definitely at some point that whole psychology change, and it’s something that you have to be comfortable with in this type of business.
Dave: Yeah I mean it’s kind of funny too. I mean I guess we’re kind of morphing into what you especially are marking into a bigger business, and you see this was like with bigger corporations too where they become more risk averse. They’re not as daring, they’re not as innovative and like us. It doesn’t matter how big or small the company is like you mentioned. There’s always a point where you don’t want to take as many risks because you’re worried about protecting what you have. And I guess that’s a good and a bad attitude to have, but definitely I think it slows down growth over time. You start to become too risk averse.
Mike: Yeah. I mean there was a really great presentation by my friend Dana at Sellers Summit. One last point on this, I mean she was talking about how her personal financial struggles that she had when she was younger. And she was basically worried about paying her bills and that was like all she worried about day in day out. She was like I got to be able to my bills, like I could go bankrupt here and that’s what you worry about. And then at some point you become successful and things kind of turn around and now she worries about losing it all, right?
So it’s like exactly what you’re talking about. So you are always worried about something. And I definitely have that feeling because when we had another business that we were successful at, and you don’t want to have to start all over in life at 40 or 45. And yeah you start worrying about things from a different perspective, and it’s really interesting that you mention that.
Dave: Yeah I know it’s funny. I mean there’s certainly a huge psychological component to growing and managing a company.
Mike: Yeah. All right so let’s get back on track. Sorry for the getting off the rails there, but I want to talk more about what you’ve built here because I still think it’s amazing. I mean I look at this and it’s always harder than it seems. So let’s talk about some of the things that kind of set you — you mentioned one thing that you were a little bit gun shy on purchasing inventory. But what other challenges did you find yourself facing throughout this?
Dave: I mean when I first started off I kind of figured that I needed about 50 products to get to a million dollars in revenue as a run rate. And 50 products sounds like a lot. I estimated that there’s probably about three variations per product, so that’s different either colors or size variation. So for example a bag has a large, medium, and small component to it. So that would be considered three products, really it’s kind of one product. So for the sake of it though, it’s three different products for the sake of kind of my estimates that I’m doing in my mind.
And I finished off, right now I have roughly 35 products. So I came up 15 short and that was part of the big problem that in missing that goal was the fact that there simply weren’t enough products. For whatever reason, I slowed down on my product development. So I think I still need to get 15 skews which again three variations per product or roughly five different products I need to develop and kind of get on the pipeline to reach that million dollars.
And the good thing is that I do have probably seven products which are either in an intermediate or advanced nearing completion stage of development. So I think that those products are going to come sometime in the summer and hopefully that will be enough to get to that million dollar goal.
Mike: Yeah it sounds like you’re running into the same challenges that we’re facing. We had a similar goal as everyone knows we’re trying to develop 50 products this year ourselves. And for us it’s actually a bigger number because we don’t count the variations as a different product. So we’re basically trying to do three times as much as you’re doing and we’re running into the same challenge.
It’s easy to find the first five or ten products because like you know exactly what needs to be improved in your niche and you know what the niche clearly is, and when you start getting to the point where you’re trying to develop in our case it’s 150 different versions of it if you count the variations as a lot of them have color or size variations as well, yeah man it becomes tough. I mean it’s really difficult, like I look at color as a great example. That’s the brand we talk about most on the podcast. What else do we develop for this brand?
We’re about to launch a new product in about a month. I’m going to be talking about it on the podcast. I’m really excited about it, but it’s a product. I think we have like one new product and in reality like probably we have three actually, three separate products. The other two are probably not going to really move the needle but they should add to our sales. But yeah I mean it gets really tough sometimes to keep finding and innovating and finding new products. And it sounds like you’ve already hit that even in the first year with this new brand.
Dave: Yeah I mean developing one product is easy like you mentioned, when you’re getting into the double digits that’s when it becomes hard. And yeah I mean I’ve run into that brick wall a little bit here. I think my bigger problem actually necessarily than developing the products was just delays. I have these products now pretty concretely in the pipeline, but they’ve been delayed for various reasons. Chinese New Year really screwed me over. Having a Chinese wife I’m savvy enough to know that Chinese New Year does not begin at Chinese New Year, it begins two weeks before.
I planned concretely for all that. I figured okay I’ll get my orders in on November and then I’ll ask them to ship them three weeks before Chinese New Year leaving lots of room for error. What I didn’t anticipate, Shanghai got its first snowstorm in 15 years three months before Chinese New Year. So what happened every container getting out of Shanghai was delayed if it was shipping near the end of January. It got delayed until after Chinese New Year which was March.
So now I am just starting to get some of these products in stock. We’re doing this in May, but last month is when those products finally started coming into stock in Amazon and my 3PL. That was they were supposed to ship in January. So as goes with everything China I mean just anticipate delays because they are going to happen at left right and center.
Mike: Yeah no doubt about it. I mean we’ve definitely gone through the same thing. I guess I’m just almost like numb to it at this point and it’s like a part of our business. It’s just like you expect that to happen. And I feel like when you get to a certain point and your pipeline is falling off, there should be enough stuff like rolling up the other end of it more than when you’re at a stage where you’re just ramping up and you’re having to deal with that it feels even more painful.
It also is painful from a cash flow standpoint because at a certain point even if there are delays they still have your 30% deposit and that number starts to get significant. And as you’re turning rolling inventory it becomes a bigger and bigger problem like having any delays in the supply chain at all. So that’s one of the things that we’re looking at as efficiencies throughout 2018 is can we cut that supply chain down by a week even, and that’s like 8% savings on cash. Anyway digressing, so but…
Dave: That actually brings up an interesting point. One of the things which one of my I guess pleasant surprises for this was as I talked about on the blog I’ve started shipping directly into Amazon. So full containers, LTL, all of that shipping it in directly to Amazon, not going through a 3PL, not going through my own warehouse, shipping it directly into Amazon. And two things I’ve learned is number one, it’s been a lot easier than I anticipated. So shipping a full container into Amazon is actually a lot — has a lot less potential for problems than shipping into a 3PL than having them split it up or break it up and start to damage it and label it and do all this and that.
Mike: There is a lot more touch points, there’s always [overlapping 00:23:52]
Dave: So yeah there’s been a lot less problems shipping full containers into Amazon. And number two like you talked about improving efficiencies. What results is when you ship directly into Amazon, you save at least a week or two in transit time just being stuck in 3PL, going from the port to the 3PL and 3PL doing whatever they’re doing, unloading and packing it, sending it on to Amazon. So you save about a week or two. And like you mentioned that’s a week or two of extra cash flow that you get into your pipeline.
Mike: Yeah I mean it’s very significant. These are the things that I never thought about a couple of years ago. But like I said we’re trying to turn our inventory four times a year, so that’s 13 weeks per quarter. And yeah you save one week on that, that’s 8%. And 8% savings in cash flow that’s 8% more inventory you can buy. Depending which way you want to look at it, there’s a cost of money always in this type of business, and in the early going these are things that you don’t think about a lot because maybe you’re more flush with cash, or you’re just not thinking about things at scale.
But certainly at the point that we’re at this is like a major, major deal. And if we can cut another week off, that’s 16% which starts to get really, really significant. And when you talk about this type of stuff, it’s a 16% savings on that, but what ends up happening is it can add one or two more points to your net profit which is like 10 or 20% increase in net profit. It’s a really, really big deal. So the efficiency I think is where all the money is going to be made in this business at the end of the day.
Dave: Yeah and this is not the sexy stuff that everybody wants to talk about. Everybody wants to talk about like marketing end, making great photos and videos on this and that, and those are all of course incredibly important. But the business side of things is really important too especially once you start really focusing on the bottom line and getting money into your pocket.
Mike: Yeah. All right so I mean any other challenges and issues that you faced through this last year.
Dave: No I mean I think like say I think twelve months from the time that I put money down I think that was a bit of a ambitious goal for me. I think I’ll probably get close to that million dollar mark probably hopefully come June, maybe July. So I think if I would have set 15 months from the start of putting my first deposit down, I think that was a more ambitious goal or a less ambitious goal.
Mike: Yeah more realistic goal I would say. I think that twelve months when your first product goes live is definitely more realistic as it does take a lot of time. Your first couple of months you don’t really have any rankings and you don’t have any built in revenue for the month. I mean one of the things I look at is like our existing products are just kind of like a baseline for where we are at and obviously that stuff goes up and down here and there. But it’s kind of a baseline we can somewhat depend on month after month. And whatever incremental income we add is going to probably be new products. So if you’re starting at zero, it’s a much more difficult process to go through.
Dave: Yeah and there’s definitely a snowball effect here where like you mentioned with organic rankings, they’re basically nonexistent in the beginning. You’re relying solely on paid traffic. Eventually though you start to get the organic listings and everything kind of snowballs, your revenue goes up, your profits go up, and things start to get a lot easier.
Mike: You also get people buying more than one thing from you with your brand name and stuff like that, and start looking at other things you sell which is pretty important.
Dave: Well especially as your product catalog starts to grow too, if you have one product nobody is going to buy a second new product because you only have one. But obviously if you have ten or 15, yeah then there’s more potential for up sells.
Mike: Yeah cool so we’re recording this at the end of May. It’s going to go live beginning of I guess the very end of May here. What is like kind of your path for here? If I was going to follow up with you in three months, if we do another podcast in this, what do you hope to be, and when would that be, June July, August, end of August?
Dave: Well I think hopefully I get to a million dollars and I think at that point I have to kind of decide whether I want this simply to be a lifestyle business where I could run it ten to 15 hours a week, maybe even less, have good reliable income, or do I want to take the Michael Jackness path and go all in and start hiring full time staff and try to grow it to maybe not an eight figure company but closer to four or five million dollars. And at that point obviously I need to start thinking about staffing, getting a warehouse, all those types of freedom losing things that you can do.
Mike: Yeah something that [overlapping 00:28:21]. I will just say real quick and you’ve done this to this point entirely on your own, right?
Dave: Yes and I think that’s — I mean definitely having help would have helped because I didn’t realize specially before my previous company I had somebody doing all the Amazon listings, all the marketing and all that. I didn’t realize how much time it took. And I remember always grinding — his name was Mark, I used to grind his skews like why are you taking three hours designing this Amazon listing, and now it’s taking me like eight.
Mike: Right yeah it’s tough man. And it gets tougher at scale and we’ll be talking about that in future episodes. I mean I have these goals on paper and it seems so easy, but you start multiplying things times 50, it becomes really, really tough. But it’s amazing how hard it is to get some of that stuff ramped up and moving even with a great team.
So yeah I know it’ll be good to kind of follow up. I mean what’s your initial thought on that, like where do you see yourself going with it if we follow up on end of August, where do you think your head is going to be? You are going to go the Mike Jackness route or you think you’re going to take some time off and just kind of take a little bit easier?
Dave: Yeah I mean it’s hard to say. I mean I think a lot of it dictates around our family too, what our family goals are here. We have one kid right now. If we start debating a second kid that will also be an important factor on whether I need to spend more time at home or whether that’s a terrible idea, and if we have two kids whether I should actually fully own and get an office where I can at least have some away time. So like all things business and family, I mean family is an important consideration of the business and probably the most important thing.
So my feeling is that I actually enjoy working from home, but it’s nice to have a kind of your own separate space, your own separate “work family.” So I think yeah I’m probably going down that road, maybe not as all in as you are but something a little bit more happy at the medium.
Mike: Yeah makes a lot of sense cool. All right before we wind up Dave and I did want to tell you guys about our new service called EcomCrew Premium. You can find that at EcomCrewpremium.com. And what we’ve done is taken all of our courses that we’ve done to this point and all the courses we’re going to be doing moving forward and put it under one subscription plan. So, we don’t have to have a conversation of this course is going to cost that much, and this course is going to cost that much. It’s all under one roof now.
And in addition to that, we’re doing monthly webinars, all of my talks from different events that I’m at, you have a monthly Q&A and also email access to Dave and I that we try to answer within one to two business days all under one roof, under one price at EcomCrew.com/premium. So definitely check that out. And any last thoughts or comments before we sign up for the day Dave?
Dave: No I think that’s about it. I think you have to run here to a meeting with your 3PL. So yeah I think that wraps it up.
Mike: Excellent. Well everyone thank you so much for listening to this episode of the EcomCrew Podcast. Dave, I don’t know if you realize this or not, but this is episode number 150.
Dave: Oh wow, that’s pretty incredible actually. I remember the very first one actually. I thought is Mike coming out with a podcast, like he’s never going to stick with this. And this, 150 episodes later.
Mike: Well the internal joke is the best way to get me to do something is tell me that I can’t do it.
Dave: Yeah I know or make a bet against you.
Mike: Make a bet against me exactly. So yeah go to EcomCrew.com/150 to get to the show notes for this episode. And until the next one everybody, happy selling, and we’ll talk to you then.
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.