Exploiting The 80/20 Rule For Outsized Returns: Strategy Audit With Norm Lanier
Norm Lanier is the CEO of a six-figure, family-owned, Texas-based sign company, creating interior graphic art. Norm earned his BS in photography and began a career in graphic design, working for companies such as Exxon, Compaq, and Hewlett-Packard. On his 50th birthday, he celebrated by exiting the corporate world to fulfill his dream of owning a business and designing art to share with the public. In this episode… The thought of starting a passion business is scary. It’s easy to be complacent working for someone else because of job security and a steady paycheck. With the onset of online startups and mom-and-pop shops, there is plenty of competition for e-commerce entrepreneurs. However, if your passion drives you, you’ll continuously push through the difficult stages of being a business owner. Norm Lanier is an artist by trade, and his talents earned him jobs at prominent companies. When he felt the time was right, he retired to put his passion to work for himself. Though he’s enjoyed success as a brand owner, he’s also endured obstacles that have hindered the business’ growth. Novice e-commerce entrepreneurs experience many pain points, but there are focus areas to help cut down on expenses: Identify levers that impact the business, simplify the business by implementing the 80/20 rule, and invest in PPC. In this episode of the eComm Breakthrough Podcast, Josh Hadley welcomes Norm Lanier, Strategy Audit Session Winner and CEO of an Amazon private label, to discuss growing a small business and planning for a business exit. Norm shares key takeaways and insights that he’s learned as an e-commerce entrepreneur, including prioritizing key areas of the business, manufacturing and chain supply, and brand diversification. Resources mentioned in this episode: Josh Hadley on LinkedIn eComm Breakthrough Consulting eComm Breakthrough Podcast Email Josh: Josh@eCommBreakthrough.com Hadley Designs Hadley Designs on Amazon Norm Lanier on LinkedIn Special Mention(s): Kevin King Roland Frasier on LinkedIn Michael E. Gerber on LinkedIn The E-Myth Revisited by Michael E. Gerber Related Episode(s): “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” “Seven Acquisition Strategies to Scale to Eight Figures and Beyond”