From the archive: This episode was originally recorded and published in 2021. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Michael is a lifelong entrepreneur who has been emersed in eCommerce for the past 7 years, who documents his entire journey along the way via the EcomCrew blog and podcast.
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Free Video Courses – Master everything from building the perfect Amazon Listing to Importing from China!
3 Value Bombs
1) The bad thing about affiliate sites via e-commerce is that you don’t own anything except for the content on your site.
2) Differentiate a little bit. If you do what everyone else is doing, there’s going to be 15 other people doing the exact same thing. If you can make small improvements, it could go a long way because now you have something that’s different.
3) Dig deep and realize that entrepreneurship is a long road.
Sponsors
HubSpot: With HubSpot’s customer platform you can spend less time switching between systems, and more time on growing your business. Visit HubSpot.com to learn how HubSpot’s customer platform can help you grow your business!
Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: Reinventing Yourself After the Government Crushes Your 8-Figure Business.
[1:03] – Michael shares something he believes about becoming successful that most people disagree with.
- You have to be a little bit lucky. Some people say that you have to work hard and be persistent. There’s some luck that you have to have somewhere, too.
[1:41] – What was Michael doing before this?
- He was in affiliate marketing – specifically in an online poker space.
- There were several beatdowns along the way. He has worked hard his whole life. Being in the right place at the right time, being in poker in 2003, wasn’t really a bad place to be.
[2:48] – Why is e-commerce better than affiliate sites – and why is it worse?
- Whoever you’re marketing for as an affiliate needs you way more than you need them. As they get bigger, the relationships flips on its head a little bit.
- The bad thing about affiliate sites via e-commerce is that you don’t own anything except for the content on your site.
[5:06] – Michael shares some of the biggest lessons he learned about building a 7-figure e-commerce brand in a single year.
- They made small improvements to create a brand that people are fanatics for – they create stuff customers really care about.
- Learn from your customers what it is that they like, what they don’t like, and what they struggling with.
- It isn’t just about selling a product; it’s also about creating a community.
[11:21] – A timeout to thank our sponsors!
- HubSpot: With HubSpot’s customer platform you can spend less time switching between systems, and more time on growing your business. Visit HubSpot.com to learn how HubSpot’s customer platform can help you grow your business!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
[12:59] – The blueprint that Michael created and has followed to create multiple 7-figure e-commerce brands
- Differentiate a little bit. If you do what everyone else is doing, there’s going to be 15 other people doing the exact same thing. If you can make small improvements, it could go a long way because now you have something that’s different.
- If someone’s going to copy you, it takes 6-18 months to copy you and catch up.
[14:53] – How can we use content and community to start an e-commerce business?
- Change the knob to point to where you want.
- 57% of e-commerce these days can become quite lucrative.
- You can be competitive in areas that you couldn’t ever be before without content
[16:35] – Michael talks about the things that are and aren’t working in e-commerce in 2021.
- You’ve got to have products that are different from everyone else’s
- Put the work in and work on making a difference. Do something that’s somewhat difficult to make a copy of.
- The need for good content is going to be there in the future.
- You have to have passion. Make sure that you’re surrounded by people who are passionate about the product you’re offering.
[20:13] – Michael’s key takeaway and call to action for Fire Nation!
- Dig deep and realize that entrepreneurship is such a long road.
- Free Video Courses – Master everything from building the perfect Amazon Listing to Importing from China!
[22:41] – Thank you to our Sponsors!
- HubSpot: With HubSpot’s customer platform you can spend less time switching between systems, and more time on growing your business. Visit HubSpot.com to learn how HubSpot’s customer platform can help you grow your business!
- Thought-Leader: Ever thought about giving a TEDx talk? Visit Thought-Leader.com/fire to join a free training and learn how to land a TEDx Talk and spread your message to millions!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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