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The Side Hustle Show

336: Direct to Consumer Product Research - How to Find Your Next Profitable Product

The Side Hustle Show

Nick Loper

How To, Entrepreneurship, Business, Education

4.71.6K Ratings

🗓️ 23 May 2019

⏱️ 41 minutes

🧾️ Download transcript

Summary

“Everyone is researching a product, I’m telling you to research a problem,” Chad told me. Chad Rubin runs ThinkCrucial.com, a profitable e-commerce business that he’s built by selling products that solve a pain point for people. Every product follows a direct-to-consumer strategy that lets him source and sell in-demand products efficiently and inexpensively. Chad’s story began when he was laid off from his job on Wall Street. He started helping out at his parent’s vacuum shop, selling some of their inventory online. He came to the realization that the profit margins were being eaten up by intermediaries along the supply chain, so he decided to get closer to the manufacturers to make more profit per sale, while still selling at a competitive price. His first products, starting with what he knew, were vacuum filters. Once he had the blueprint down for selling at a higher margin than his competitors, Chad started sourcing new products to expand his product line, and he has an interesting and unusual way of finding product ideas. Tune in to hear Chad’s unique take on product research, what he calls the “anti-Amazon opportunity,” and some sneaky ways you can connect with expert manufacturers. Full Show Notes and PDF Highlight Reel: Direct to Consumer Product Research - How to Find Your Next Profitable Product

Transcript

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0:00.0

Side Hustle Show 336 direct to consumer product research.

0:06.0

Through Amazon FBA or through your own e-commerce site,

0:09.0

direct to consumer products and brands are one side hustle with tremendous potential.

0:14.0

Here's how to get started.

0:17.0

What's up, what's up Nick Loper here?

0:20.0

Welcome to the Side Hustle show because there's got to be a better way.

0:24.1

There's got to be a better way than slaving away in a cubicle for 40 years to reach financial independence.

0:29.7

It was that line of thinking and a little firsthand experience on both Wall Street and Main Street that helped Chad Rubin create a profitable e-commerce business and later a software tool called Scubana to help other e-commerce sellers.

0:44.0

Laid off from his job on Wall Street,

0:46.3

Chad began helping out at his parents vacuum shop,

0:49.5

selling some of their inventory online.

0:52.4

But then came the realization that the profit margins were all

0:55.3

eaten up by intermediaries along the supply chain. He reasoned the closer he could get to the

1:00.4

manufacturer, the better deals he could make make both for himself and for his customers.

1:06.0

His first products, starting with what he knew, were vacuum filters.

1:10.1

But how do you figure out what to sell if you don't have an inn in a certain industry?

1:14.5

That's what this episode is about.

1:16.6

Today Chad's Business Think Crucial.com sells a wide variety of products for

1:21.9

your home, your pool, your car, and more. I think

1:25.5

coffee filters, hair filters, pool filters, and a whole bunch of other stuff. He

1:29.2

called himself the Filter King, but every product follows the same direct to consumer strategy that lets him source

1:35.9

and sell in-demand products efficiently and inexpensively.

...

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