Matt Davis: From $10m Amazon Empire To Breakthrough Tech Company... PLUS, Changes Coming For Amazon Sellers
Capitalism.com with Ryan Daniel Moran
Capitalism.com
4.8 • 802 Ratings
🗓️ 5 May 2016
⏱️ 50 minutes
🧾️ Download transcript
Summary
One of the most doable and accessible opportunities available in the online space today is selling products via Amazon and other online marketplaces. Many people are building real, established businesses through those channels and experiencing huge success. But one of the problems with Amazon in particular is that since it is Amazon's platform there are many ways in which a seller's ability to follow up and interact with their customers is hampered. The information you need is held inside Amazon's proverbial "black box" and is difficult to access. Today's episode features Matt Davis, Ryan's business partner, who is addressing some of those issues through his new support product for Amazon Sellers - Merch Bee. You'll hear all the details on this episode of Freedom Fast Lane.
Building a successful Amazon sales partnership.
Ryan has partnered with Matt Davis on a handful of different projects over the years and the two of them have successfully built their Amazon sales business to $10 million together. Have you ever wondered how they've navigated the partnership waters so successfully? It's not a common story and both guys have plenty to share on this episode by way of tips and mindsets that can help you approach a possible partnership in the wisest way possible, setting yourself up for success.
When you need to grow revenue, you might want to look at your own problems.
One of the foundational business principles aimed toward helping business people build products or services that truly benefit consumers is to focus on their pains, problems, or passions. But once you're in business it's easy to forget that the simple "PPP" formula applies to yourself as well. No doubt, you experience problems, pains, and passions in your business that you wish could be solved. It would not only make your business run more smoothly, it would also enable you to streamline your processes and increase your bottom line. On this episode Matt Davis shares how he came to the conclusion that he could solve some of his own business problems through creating a solution that others could use as well. You'll get a ton of value from what he has to say.
Look to your business verticals for income opportunities.
Matt Davis says that he began considering his latest business endeavor out of necessity. He was experiencing issues in his own business operations that needed solutions, and nobody was addressing it. That's when he took matters into his own hands and started talking with developers about the creation of software solutions to make his problems a thing of the past. Turns out that his problem was widespread among Amazon sellers and there's a huge market for what he's doing. What are your business verticals that could provide you opportunities to expand your business and make a tidy profit at the same time?
What if you could follow up with customers based on their buying history and habits?
Most of the follow up tools available for Amazon sellers only allow follow up on a limited scale - the same emails and email sequences to all of the people who have purchased your product. But what if you could send a different email to those who purchased through an organic channel than you do to those who used a promotion code? Would you customize your message to one in a way that wouldn't apply to the other - and could generate greater customer loyalty or repeat sales? That's only one of the issues Matt Davis' new software tool - Merch Bee - is solving. You can find out more about Merch Bee and how you can get a 15% to 20% discount, on this episode.
Outline Of This Great Episode
- [0:05] Ryan's introduction to his business partner, Matt Davis.
- [2:07] How Matt and Ryan met and built their company to a $10 million brand.
- [5:05] Why Matt left the Internet Marketing world and went back to Corporate.
- [8:22] The first chat Ryan and Matt had about building a new business together.
- [10:18] Matt's perspective on working with a visionary like Ryan.
- [13:06] How Matt evaluates opportunities and stack the deck in his favor.
- [16:35] The decisions Matt believes have enabled the company to grow quickly.
- [20:09] A new type of business Matt is starting from necessity: a tech company.
- [28:00] How Matt began realizing that he could build solutions to his own problems.
- [31:40] The goal of Matt's new company for himself and those he will serve.
- [39:34] The kinds of tools that create the greatest change in revenue.
- [41:34] Segmenting follow up sequences based on purchase history and habits.
- [44:28] How you can get a discounted copy of Matt's new Amazon software.
Action Steps From This Episode
FOR GREATER SUCCESS: When considering partnership opportunities make sure that the two individuals are NOT wired similarly. Duplicating your insights, mindsets, and efforts will create more tension than you need in order to have a healthy relationship.
FOR GREATER OPPORTUNITY: No matter the business niche you operate within there are many, many verticals that supply resources and services for people who are in your space. Look around. Are there opportunities within those verticals that you could begin to address in better ways than are currently being done? One way to explore the possibility is by looking at what your needs are from your supply chain. That could be your opportunity.
Connect With Today's guest: Matt Davis
Website: www.MerchBee.com/FFL - get your 15% to 20% discount
Resources Mentioned On This Episode
- www.MerchBee.com/FFL - Get your copy of Matt's new software for 15% to 20% off.
Connect With Freedom Fast Lane
Website: www.FreedomFastLane.com
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Freedom Fastlane. This is Ryan, and today we're going to do something really fun. |
| 0:09.7 | We're going to be joined by my business partner, Matt Davis. Matt and I started our physical products business three years ago, and we've grown that to a business that is going to do at least $8 million |
| 0:22.8 | this year, probably 10, maybe even more. We have some retail deals on the table that are |
| 0:28.5 | really exciting, that could as much as double our revenue, so there's some really cool things |
| 0:33.8 | happening. And I wanted to do a couple of things. One, I wanted to go through our |
| 0:38.3 | story together because we've had a great partnership. We've grown really fast. And I wanted to get |
| 0:43.8 | his vision on why he thought we grew so fast, what we did right, what we did wrong. And at the |
| 0:49.2 | same time, Matt has started another project that works with and services Amazon sellers and physical product |
| 0:56.1 | sellers. I wanted to learn a little bit about what it looked like to build a tech company because |
| 1:01.4 | he's got his physical products business. Why did he start a tech company? Why did he go in that |
| 1:07.2 | direction? What did it look like? What was the investment like? What was the team like? |
| 1:12.8 | How is that different from running the business that we run together? And at the same time, |
| 1:17.6 | he works with and serves Amazon sellers, which I know a lot of you are. So he develops tools that |
| 1:23.3 | makes selling on Amazon easier, that makes scaling your business easier and do a lot of cool things |
| 1:28.4 | that we tend to think would be really nice, but they're not available right now. So he actually |
| 1:34.5 | goes and develops those and makes them available for sellers. So I wanted the opportunity for |
| 1:39.2 | him to share a little bit about those tools as well. So we cover our journey and how we grew to a multi-million dollar company. |
| 1:46.3 | We talk about what it looks like to grow a tech company and how that's different from the |
| 1:51.0 | business that I'm currently in and also a little bit about the cool tools that are coming |
| 1:55.7 | down the pipeline for Amazon sellers and what we should be excited about coming soon. So you'll really enjoy this chat |
| 2:03.7 | with my business partner, Matthew Davis. Matt Davis, we are overdue. Welcome to Freedom Fastline. |
| 2:10.6 | Thanks for hanging out with us. Thanks, man. I'm glad to finally be on. Yeah, so it's kind of a funny story. |
... |
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