536: He Made $450M Selling TV's for $0.01 | Ruslan Kogan [VIDEO]

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 1 November 2024

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Ruslan Kogan, founder and CEO of Kogan.com, dives into his journey from selling electronics out of his parents’ garage to building one of Australia’s most successful e-commerce brands. Ruslan shares key insights on identifying market gaps, the importance of customer focus, and how he scaled Kogan.com by challenging traditional retail norms. He also discusses the power of data-driven decision-making, his early struggles with capital, and the lessons learned from rapidly scaling a business. Listen to Nathan & Ruslan discuss: - The early days of Kogan.com and starting a business from scratch - Identifying market gaps and leveraging customer insights - The role of data in guiding business decisions and scaling - Strategies for building a customer-first brand in e-commerce - Lessons on resilience and navigating challenges as an entrepreneur - Strategic growth and Kogan.com’s approach to expanding product offerings And much more entreprenurial 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

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0:00.0	Everyone said, look, online retail is never going to work for big products.
0:03.6	Today, tonight came to me, it's like, are you really selling TVs for one cent,
0:07.4	no referrals?
0:09.2	The worst thing you could do is be scared to make a mistake.
0:14.0	It's lots of mistakes.
0:16.1	Some are small, some are huge cluster fucks, learn from it.
0:20.0	Make sure you're better today than you were yesterday.
0:22.9	If you look at retail, the fundamentals over the last 50 or 100 years have barely changed.
0:30.3	Customers ultimately want more choice, more convenience, better prices.
0:35.6	Understand those three pillars very well.
0:41.0	Hear the stories. Learn the proven methods and accelerate your growth and future through
0:47.2	entrepreneurship. Welcome to the founder podcast with Nathan Chan.
0:55.0	Today we have Ruslan Kogan.
0:58.3	He's here in the studio.
1:01.9	Kogan is one of the largest online retailers in Australia.
1:06.0	He has an amazing story around how he started this business from his bedroom. You know, you started this
1:13.9	was like the back off credit cards. Is that right? Like talk us, talk us through. Like so welcome.
1:19.5	First of all, welcome, Ruslan. Thank you so much for joining us. Thanks for inviting me.
1:23.0	Pleasure to be here. But yeah, it was, look, going back a bit over 18 years now and you know I'd been
1:30.5	wheeling and dealing and selling a few things online here and there and then came
1:36.0	across TVs to as a what I thought was a perfect product for e-commerce because it's
1:44.0	online retail you want the most amount of value
	...

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