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The Foundr Podcast with Nathan Chan

511: How One Product Made Him $40M | Ezra Firestone

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 10 May 2024

⏱️ 39 minutes

🧾️ Download transcript

Summary

Ezra Firestone’s businesses generated $70M in revenue last year, but he says he’s just “some guy.” He started his first ecommerce store in 2006, selling Marge Simpson wigs. Despite being a high school dropout with no experience or education, he was determined to make his business work. Two decades later, he’s invested and co-founded five successful businesses, including Smart Marketer, an ecom education platform that helps entrepreneurs run stores that generate over $20 million in yearly revenue. In this episode, Firestone leans on his decades of experience to outline the fundamentals of a revenue-generating ecom business. In this episode, you’ll learn: Why you don’t have to be “book smart” to be successful Firestone’s step-by-step sales funnel Why you need a basket-building product at the beginning The benefit of a merchandising strategy The three core aspects of business What conversion-based commerce means A TikTok Shop secret How he almost went broke selling 8,000 Marge Simpson wigs Why having fun helps you win in business And much more ecom strategies and advice… Click here to start your business for $1. You’ll get all-access foundr+, where you’ll find more in-depth, proven strategies from founders like our guest today and support and advice from our global community of 30,000 founders. If you loved this conversation and learned something new, rate and review this episode. Stay in touch with us, follow foundr on your favorite platform: Foundr.com Instagram YouTube Facebook X LinkedIn Magazine

Transcript

Click on a timestamp to play from that location

0:00.0

The interesting thing about business is you will be humbled by it and things will go wrong and you will fail.

0:07.0

And your job is to show up every day with a positive attitude and do the best you can because it turns out it is a longevity game.

0:14.9

It is a marathon.

0:16.5

How many people have we seen give up before the miracle?

0:18.9

It's like you just have to keep at it.

0:21.2

One of the most successful e-commerce entrepreneurs in the industry today.

0:24.5

Founder and creative director of smart marketer.

0:26.7

Ezra Firestone.

0:28.2

In the eyes of the school system, I'm a dumb kid.

0:29.9

I failed out of high school.

0:30.7

I never made it through college.

0:31.8

You don't have to be traditionally book smart to be successful with this.

0:35.5

That is the beauty of the internet. People like you and I

0:38.3

can start from nothing and build real amazing businesses. Before we dive in, I want to extend a

0:47.8

warm invitation to join our thriving founder community. It's the perfect place to discover more

0:52.9

insightful interviews aimed at helping you

0:54.8

build, grow and scale your business. So don't forget to hit subscribe. Your support means the

1:00.6

absolute world to us. Thank you so much for subscribing. Let's get stuck in today's discussion.

1:07.0

Hear the stories. Learn the proven methods and accelerate your growth and future through entrepreneurship.

1:14.6

Welcome to the founder podcast with Nathan Chan.

1:20.3

The first question that I wanted to ask is, can you describe the first 60 days of your first ever e-commerce store, MyCostume Weeks?

1:31.3

What did that look like?

...

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