E276: How to Do Sourcing Right – A Guide for Veterans and NovicesAugust 19, 2019 in Ecom-Crew-Podcast
Sourcing is one of our go-to topics on the podcast. There are so many moving parts and different ways to approach it.
I’ve been so fortunate to have sourcing experts come on the show and share insights on this. Today’s episode is no different.
I’m joined by Nathan Resnick, the CEO, and co-founder of Sourcify, an intuitive sourcing platform that helps companies find new products around the world.
In our discussion, Nathan speaks mainly on how to go about sourcing when you’re a novice. And, if you’re a veteran at it, how to cut costs without sacrificing product quality.
In this episode you’ll learn:
- How Nathan got into sourcing (8:42)
- How to source your first product (9:11)
- Ratios: private labeling versus manufacturing your own – customized molds (16:49)
- The three-pillar approach for cutting costs on sourcing products (23:44)
- On the importance of third-party inspections (32:29)
Our talk ends with Nathan emphasizing the importance of striking an effective balance when dealing with the three pillars of sourcing – price, quality, and lead time.
We recently did a series of webinars with Helium 10, which we turned into a mini-course. Head over to ecomcrew.com/helium to watch the entire 3-part series.
In Vancouver this week? Drop by the CRAFT Beer Market and have a drink with us. Sign up for the meetup here!
Finally, if you enjoyed listening and think this episode has been useful to you, please take a moment to leave us a review on iTunes.
If you have any questions or comments, feel free to leave them below. Happy selling!
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.