Wes Grudzien knows what it takes to be successful at selling on Amazon. Wes is cofounder of Lullaby Lane. He helped grow the company’s Amazon sales to over 7 million dollars annually in less than 3 years. He is also the founder of Ezonomy where he teaches the exact methods used to grow a 7 figure business and consults with large scale sellers.
Here’s a glimpse of what you’ll learn:
[0:15] Jeremy’s introduction of Wes Grudzien.
[1:31] The reasons Lullaby Lane was able to grow so quickly: access to suppliers.
[2:53] What separates the LL approach from others who sell the same things?
[8:31] The thought process behind coming up with new product ideas.
[10:22] The things Amazon private label sellers are doing well and the mistakes they are making.
[21:14] The type of things that make a good product bundle on Amazon.
[24:45] How Wes gets customers to his own site rather than buying through Amazon.
[28:23] Focusing on the things you can control – like inventory control, etc.
[32:35] Resources Wes recommends.
[46:59] The kind of things Wes used to do for his father’s company.
[53:22] When Wes originally got started in ecommerce business.
[1:03:00] How Wes helps new sellers to get past the barrier to entry.
[1:05:39] The first milestone Lullaby Lane hit online.
[1:14:02] The metrics to watch: inventory turnover rate / profit margin.
[1:19:38] Why Wes doesn’t use traditional ecommerce software like Skubana.
[1:30:04] What terms should Amazon sales businesses seek from manufacturers.
[1:32:15] At what point should an ecommerce seller consider raising capital?
[1:37:40] The lowest moment Wes experienced in his ecommerce journey.
[1:39:48] The highest moment Wes has experienced.
[1:41:45] The kind of work Wes does consulting with brands (a story).
[1:46:52] Tips for brands selling on Amazon.
In this episode…
The Amazon marketplace is a very popular starting place for many people who want to enter the ecommerce realm. Selling on Amazon is still a very realistic way to begin making a living online but it’s not without its pitfalls. Wes Grudzien has not only become very successful selling products on the Amazon platform – he’s also built a business that consults with brands and individuals to help them get a start on Amazon as well.
Selling on Amazon can work in a number of ways. The two most popular are through retail arbitrage (buying wholesale or at a discount and reselling at retail or above on Amazon) or through what is known as private label sales. Private label sales is the process of sourcing products through a supplier, branding them as your own, and selling on Amazon. Wes Grudzien has done both and is a pro at helping others learn how to create their own online revenue using those models.
Wes attributes his company’s success at selling on Amazon to their commitment to follow typical business practices. It may sound simplistic but many who sell on Amazon don’t do adequate product research, don’t work to optimize their processes or listings, and miss many of the little things that can make for a successful sales channel.
If you are interested in selling on Amazon you’ll enjoy this conversation with Wes Grudzien. He’s got lots of insights into the way things work on Amazon and what it takes to be successful on the world’s largest retail platform. Make sure you take some time to listen to this one.
On this episode Wes Grudzien not only shares his journey as an Amazon private label seller but also the way he’s gotten involved with the Muscular Dystrophy Association as a result. He’s got some moving stories to tell about the difference he’s been able to make in the lives of some very special people. Be sure to listen.
Resources Mentioned on this episode
- BOOK: Good to Great
- BOOK: Great By Choice
- BOOK: Zero To One
- BOOK: The Lean Startup
- Ryan Deiss