130 episodes

The Bright Ideas eCommerce podcast is where proven entrepreneurs share the exact tactics and strategies that are working for them. In each episode you will discover actionable golden nuggets that you can implement in your business today.

The Bright Ideas eCommerce Podcast | Proven Entrepreneur Success Stories Trent Dyrsmid | eCommerce Entrepreneur

    • Business

The Bright Ideas eCommerce podcast is where proven entrepreneurs share the exact tactics and strategies that are working for them. In each episode you will discover actionable golden nuggets that you can implement in your business today.

    BI 297: How Two Brothers Re-Invented Volleyball and Generated Millions in Sales

    BI 297: How Two Brothers Re-Invented Volleyball and Generated Millions in Sales

    Are you looking for a new product idea? Do you already have an idea that you'd like to bring to market? Do you love hearing inspirational stories from successful entrepreneurs? 

    On the show with me today is Chris Meade; Co-founder of Crossnet - a company that is revolutionizing the sport of volleyball with their new 4-way volleyball net.

    To see if this interview is for you,  I recommend that you read the list of questions below to get a quick overview of the questions that I asked Chris during our conversation. When you do, I think you'll quickly see that this episode is jam-packed with knowledge-bombs for bringing a new idea to market and rapidly scaling a company.

    Watch the video above, read the transcript, or listen to the audio file below and benefit from the knowledge that Chris shares...and then leave a comment or question for him to answer.

    Questions I Asked Chris:
    [01:49] What does your company sell?
    [02:30] What made you pick the niche you are in, and how did you research it? 
    [03:57] Did you do any market testing before going into production?
    [04:55] How is your product sourced/made?
    [06:27] What do your gross margins look like?
    [07:03] Have you been able to improve your gross margin over time? If so, how?
    [08:16] What software do you use for the store?
    [08:22] What are some of your favorite store apps?
    [08:58] What software do you use for email marketing?
    [10:24] Where are you getting all the website traffic from
    [10:44] Does word of mouth contribute to sales?
    [11:15] Tell me about your advertising
    [12:26] How did you get into the school catalogs
    [12:56] How did you manage all the LinkedIn outreach?
    [14:10] How are you automating email outreach
    [14:50] What are some of the areas that your using VAs
    [15:50] What is your YOY growth rate?
    [16:50] How did you make the company grow so fast?
    [17:40] Who is your target customer?
    [18:30] What percentage of your sales are online vs off?
    [19:10] How did you learn that moms were your buyer?
    [19:34] What percentage of sales are coming from cold traffic ads vs retargeting?
    [20:11] What is your CAC?
    [20:52] How did you find the agency you are working with?
    [21:08] Are you in any mastermind groups?
    [22:11] Are you on Amazon? How?
    [23:00] How did you find your amazon seller?
    [25:50] What percentage of your sales are on Amazon?
    [26:57] How big is the team at this point?
    [27:10] What types of things do you use freelancers for?
    [28:15] Tell me about the systems that you are developing?
    [31:15] What are some of your plans for 2020?
    [33:07] How are you raising cash for inventory?
    [36:30] Are you ever going to take investors?

    Resources Links can be found at https://brightideas.co/chris-meade-interview/

    • 42 min
    BI 298: Proven Online Advertising Strategies with Erin Corn (Ex Facebook and Instagram Employee)

    BI 298: Proven Online Advertising Strategies with Erin Corn (Ex Facebook and Instagram Employee)

    Is your company not growing as fast as you'd like? Are you struggling to create profitable ad campaigns on social media? Would you like to tap into the brain of a proven expert?

    On the show with me today is Erin Corn, founder of Shorebird Media. Prior to launching her agency, Erin worked for Facebook, Instagram, and Amazon; the ultimate trifecta for online advertising and commerce.

    Watch the video above, read the transcript, or listen to the audio file below and benefit from the knowledge that Erin shares...and then leave a comment or question for her to answer.

    Questions I Asked Erin:

    [02:11] Who are you and what do you do?
    [03:13] Tell me about an incredible result that your expertise played a role in achieving? (Dudley Stevens - seeing 30-50% ROAS)
    [04:30] What was the first step you took to create this result?
    [07:58] Tell me about the retargeting campaigns you created for them?
    [13:48] Tell me about your use of dynamic ads?
    [14:25] What is an Instagram collection?
    [15:41] Do you use FB Ads Manager?
    [17:31] Tell me about your cold traffic campaigns?
    [17:50] Did you use interest targeting?
    [19:36] How did you build out the personas you tested?
    [21:52] Tell me about exclusions from your campaigns?
    [22:14] How did you uncover the language the their target market uses? (Understand which organic content got the most traction)
    [25:00] Tell me about how you create and manage split tests (test headlines first)
    [26:38] How many ads should be in a ad set?
    [27:45] How long did it take the campaign to break even?
    [33:46] How did you scale up ad spend without breaking the campaigns?
    [38:57] How does a brand find the right agency to work with?
    [41:11] How should a brand expect to compensate an agency?

    Resources links can be found at https://brightideas.co/298

    • 44 min
    BI 296: How to Source Profitable Product from China The Smart Way with David Hoffman

    BI 296: How to Source Profitable Product from China The Smart Way with David Hoffman

    Are you planning to launch your own brand of products to sell on Amazon? Do you already source products from China and looking for proven methods to improve your sourcing efforts? Would you like to better understand how to become a master product sourcing professional?

    On the show with me today is David Hoffman; CEO of international trade powerhouse Global Regency (shipping products over $200m to over 40 countries). 

    If you read the list of questions below to get a quick overview of the questions that I asked David during this interview, and you will quickly see that this episode is jam-packed with knowledge bombs for sourcing products from China. 

    Watch the video above, read the transcript, or listen to the audio file below and benefit from the knowledge that David share...and then leave a comment or question for him to answer.

    Questions I Asked David:
    [01:07] Who are you and what do you do?
    [02:06] What are some of the biggest mistakes you see people making?
    [03:05] Is Alibaba the way to go?
    [04:24] Should someone work with a buyer's agent?
    [06:51] How should buyers plan and execute a trip to China?
    [09:54] How often are their trade shows
    [10:50] How do you determine if you are dealing with a manufacturer or a trading company and why should you care?
    [12:50] What is the best way to find trade shows to attend?
    [14:30] What are the most important things to do prior to attending?
    [17:20] Are there some clever ways to make a good first impression when talking to vendors?
    [19:30] What are some of the important things the new buyers might forget to ask?
    [20:18] Why is product compliance so important?
    [21:50] What type of follow up do you suggest after the show?
    [24:00] Tell me about some best practices for ordering samples
    [25:40] Do you have an SOPs for the sampling process?
    [28:00] So how do people work with your company as their team on the ground in China?

    Resources links can be found at https://brightideas.co/david-hoffman-interview/

    • 34 min
    BI 295: How to Accelerate the Growth of Your eCommerce Business with Ben Fewtrell

    BI 295: How to Accelerate the Growth of Your eCommerce Business with Ben Fewtrell

    Are you struggling to grow your small business as fast as you'd hoped? Do you feel that you are working too hard; yet still not getting the results you need? If you answered yes to either question, this podcast episode is for you.

    On the show with me today is Ben Fewtrell; creator of the Business Acceleration Blueprint. As the founder of several startups, Ben knows a thing or two about getting a business off the ground, and his programs have helped many business owners to build the business they imagined. 

    During today's interview, I asked Ben to walk us through the blueprint, step by step.

    If you are struggling get the results you deserve, this interview is for you.

    Questions I Asked Ben:
    [01:44] What is this Business Acceleration Blueprint? (5 stages and 5 critical areas per stage)
    [02:43] What are the five steps of the BAB?
    [06:10] Tell me more about the foundation phase.
    [15:45] Tell me more about the KPIs that make up your foundation.
    [19:50] Tell me about the issue of time management.
    [21:50] How do you suggest people figure out what activities they should delegate?
    [24:20] How important is it to have documented systems for your various activities?
    [26:30] Tell me about the growth phase (lead gen, CRO, AOV, LTV)
    [27:54] Which of these four is the one to focus on first?
    [31:45] Can you share some examples to underscore the importance of what we have discussed so far.

    Resources links can be found at https://brightideas.co/ben-fewtrell-interview/

    • 45 min
    BI 294: Creating High Growth Companies with Stephan Aarstol

    BI 294: Creating High Growth Companies with Stephan Aarstol

    On the show with me today is Stephan Aarstol; founder of Tower Paddle Boards and a number of other direct to consumer brands. Back in 2010, Stephan was barely 6 months into his venture when he received a call from a TV producer for a show he'd never heard of.

    It was called Shark Tank - and it changed Stephan's life.

    After hearing Stephan's pitch, Mark Cuban decided to invest $150K in Mark's company, and that company wen on to become one of the biggest success stories in Shark Tank history. Since then, Mark has been a partner in virtually every business Stephan has started.

    In Stephan and I's conversation, we talked about what it was like to start a company in a highly competitive market, what it was like to work with Mark Cuban, and why he eventually implemented (and wrote a book about) the 5 hour work day in that company.

    If you are an entrepreneur looking for ways to make your company stand out, this episode is for you.

    Questions I Asked Stephan:

    [02:20] How did you come up with the idea for Tower Paddle Boards?
    [03:19] Did you know anything about making paddle boards?
    [05:44] How long had inflatable paddle boards been around when you launched?
    [06:44] How did the level of competition back then compare to now?
    [10:16] Why did you feel that you could be successful entering this market?
    [11:30] How long did it take to get the first $100K in revenue?
    [12:15] How did Shark Tank play a role?
    [14:35] What was it about your pitch that appealed to Mark
    [19:18] What was it like working with Mark as an investor?
    [22:44] Of all the things you've learned from Mark, what was his greatest lesson?
    [26:41] When and why did you decide to convert to a 5 hour workday?
    [29:31] Why did you choose to make this shift to a 5 hour work day?
    [32:24] Tell me about some of the productivity hacks that your team discovered? 
    [33:45] Why did you shift to 5 hours days in the summer only?
    [34:20] What was the impact on recruitment and retention?
    [35:30] How has it evolved since and why?
    [36:51] What advice would you give to others thinking of trying it out?
    [39:10] What is your best advice for today's entrepreneurs interested in building a direct to consumer company?

    Resources link can be found http://brightideas.co/stephan-aarstol-interview/

    • 43 min
    BI 293: How to Maximize Enterprise Value at Exit Using an M&A Advisor Instead of a Business Broker

    BI 293: How to Maximize Enterprise Value at Exit Using an M&A Advisor Instead of a Business Broker

    If you are building a business to sell, having an exit plan should be a critical component of your overall strategy, and depending on the kind of business you are building, deciding whether to hire a business broker or an M&A advisor could make the difference between getting a few hundred thousand (or million?) dollars extra or not.

    There are significant differences between a typical business broker and an M&A advisor, and in today's episode, I'm joined by Chris Shipferling and Jason Sommerville; two of the partners at an M&A advisory firm that specializes in selling digitally-based businesses. 

    In our discussion, we talk through the differences between the services one can expect from a typical business broker, and that of a firm like theirs, and, as you will hear when you listen, the differences could results in a significant difference in the value of your company when you sell.

    Questions I Asked Chris:

    [04:10] What is the difference between a business broker and an M&A advisor?
    [06:30] What is the difference between a financial buyers and a strategic buyer?
    [11:00] What market segment do you deal with?
    [13:25] What is the minimum size of a company that you generally work with and why?
    [14:50] How does your view of exit valuation compare to that of a business broker?
    [18:50] How does the background of an M&A advisor generally differ from that of a business broker, and why should the seller of a sub $3M business care?
    [22:39] How do the fees differ between working with an M&A advisor and a business broker?
    [25:23] What is your process vs a broker process to sell a business?
    [28:38] Who defines the portion of the deal book that speaks to opportunities for growth?
    [34:00] How does your buyer network differ from that of a business broker?

    Resource links can be found at https://brightideas.co/chris-shipferling-interview/

    • 42 min

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