Gary Huang brought together an amazing group of online sellers, each with over one million dollars in sales. Here’s their top advice for others.
This post is by Gary Huang, host and creator of the 7 Figure Seller Summit, founder of 80/20 Sourcing and an online seller on Amazon, eBay and Shopify since 2004.
Recently, I interviewed over 20 seven-figure ecommerce sellers and experts. I wanted to learn the specific mindsets and growth strategies they used to scale their business to over a million dollars in annual revenue.
At the same time, I challenged them to talk about and explain the mistakes they made along the way. This was the vision behind the 7 Figure Seller Summit.
After speaking to these million-dollar ecommerce sellers and experts, I noticed some common themes between them. So, I’d like to share with you my top 10 takeaways that I’m implementing to grow my own ecommerce business.
We spoke with Connor Gillivan about how he built up his dropshipping business and whether the same approach still works on Amazon today
Many sellers see dropshipping as the perfect ecommerce business model and it’s not hard to see why. You don’t have to purchase stock in advance, have a warehouse or even ship orders. In theory, all you have to do is find products, list them for sale and send the orders to your suppliers. Sounds like the ideal business, right?
Well, in reality, it’s a lot tougher to build a successful business using dropshipping than sellers think. The process might seem simple, but there’s a lot of challenges. Unless you’re highly efficient it can be very easy to make mistakes.
To find out what it takes to build a successful dropshipping business we spoke to Connor Gillivan, who has sold over $25 million of products using dropshipping. Connor has been running ecommerce businesses since 2009 and is also the co-founder of ecommerce outsourcing company FreeeUp.
We talked about the reality of dropshipping, the methods that Connor used to build his business and whether using the same approach could still be successful on Amazon today.
We spoke with long-time seller Skip McGrath about the changes that have had the biggest impact on eBay sellers over the years
eBay has seen a huge number of changes since it opened for business in 1995. There’s been the introduction of a new search engine, big changes to feedback, increasing fees and more. Sellers have had to adapt to them all.
We caught up with Skip McGrath about how the eBay marketplace has changed over the last twenty years. Skip has been an eBay seller since 1999 and is also a trainer and author over at Online Seller’s Resource.
Here’s the changes which have had the biggest impact on sellers and what those changes mean for sellers today.
We spoke with Sophie Howard about the subscription business model. Here’s how to leverage Cratejoy’s platform and Amazon’s market reach.
As competition on online marketplaces has become fiercer, more and more sellers are looking for a way out of the ecommerce rat race. The big question is, “How?”
One way is to start a subscription box business. In this model, sellers put together a selection of products which customers pay to receive automatically, every month.
Subscription boxes exist for a wide variety of products, from beauty and pet supplies to comics, food and drink. Customers can choose to receive a set selection of items each time, or have a surprise box, where the items are chosen for them.
We spoke to ecommerce entrepreneur Sophie Howard about the subscription box business. Sophie builds and sells her own brands, and is the founder of Aspiring Entrepreneurs, where she coaches online business owners.
We talked about why subscription boxes are an attractive business model, how to leverage leading platforms Cratejoy and Amazon, and the unique challenges that subscription business owners have to overcome.
Alex Knight catches up with Will and Andrew Tjernlund, two years after their business was first profiled here. Everything has changed.
When Web Retailer first spoke to Will Tjernlund back in April 2015, he was working with his brother Andrew, running a business selling private label products alongside established brands, mainly through Amazon.
Their Lean Startup approach saw profits grow dramatically, and they were at the stage of looking to hire more employees. Meanwhile, Will’s aim was to become location independent – so he could work from anywhere in the world.
Then the situation changed, almost immediately after the interview was published.