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The Foundr Podcast with Nathan Chan

170: Building a Multimillion-Dollar Startup on Amazon Sales, with Jungle Scout’s Greg Mercer

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8662 Ratings

🗓️ 13 October 2017

⏱️ 53 minutes

🧾️ Download transcript

Summary

Greg Mercer built an entire lifestyle business without having to build his own products, distribution network, or even an online store. Instead of creating his first business from scratch, Mercer took advantage of the tools around him and started selling products on Amazon. It worked, to the point that he and his wife were both able to quit their jobs and start traveling the world. He had achieved the dream that so many of us are working toward, all by cleverly riffing on an industry giant. Within two weeks, though, he was bored. Fortunately for us, Mercer's next project is helping others find similar success. Selling everything from wrist braces to cages for tomato plants, Mercer realized he had stumbled upon a proven formula. A formula he could use over and over again that allowed him to find products people wanted, sell them on Amazon, and turn a significant profit. The next step was obvious. Mercer built a tool called Jungle Scout, which allows other ecommerce entrepreneurs to find opportunities to make money on Amazon. Despite having limited himself to a budget of only a thousand dollars, having absolutely no coding or technical experience, or any experience in the software business, Mercer hacked together Jungle Scout, his first bona fide startup. After starting out as a complete novice, Mercer began learning on the job, and despite encountering some classic hurdles and mistakes, has found himself at the head of a fast-growing company. In this episode, you'll learn: Mercer's strategy that anyone can use to make a profit on Amazon What every ecommerce entrepreneur should be aware of when selling online How to build a SaaS from scratch, with no tech skills What to watch out for in ecommerce opportunities How to build and manage a remote team that actually works & so much more!

Transcript

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0:00.0

This is episode number 170 with Greg Mercer of the Founder Podcast.

0:06.7

What you need is thirst.

0:08.4

You need to be a thirsty human.

0:10.4

Who is intent on learning.

0:12.4

It's a really fascinating exploration of human potential.

0:18.1

The Founder Podcast.

0:21.3

Even the greatest entrepreneurs had help.

0:24.2

If you want to learn from the most successful founders on the planet, you are in the right place.

0:29.9

Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Ariana Huffington, Steve Case, Gary V, Sophia Amoroso, Barbara Corcoran, Damon John.

0:37.0

Learn from the greatest minds in

0:38.5

business today with interviews hosted by Nathan Chan. This is not your average entrepreneur podcast.

0:45.3

The Founder Podcast.

0:52.2

Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let

0:58.4

you know that our goal at founder is to help entrepreneurs succeed however we can by giving

1:04.0

away high quality content in the form of interviews, blog posts, podcasts, YouTube videos,

1:10.1

you name it. We put out so much content to help you.

1:13.4

And another interesting project that we're working on right now is partnering with

1:17.3

world-class founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach

1:23.6

crucial skills like negotiation, finance, e-commerce, and so much more.

1:30.4

So if you'd like to get access to these free trainings with founders like this, which is 100% free,

1:37.4

just go to founder.com forward slash free.

1:40.6

Okay, so now let's talk about today's episode.

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