170: Building a Multimillion-Dollar Startup on Amazon Sales, with Jungle Scout’s Greg Mercer
Greg Mercer built an entire lifestyle business without having to build his own products, distribution network, or even an online store. Instead of creating his first business from scratch, Mercer took advantage of the tools around him and started selling products on Amazon. It worked, to the point that he and his wife were both able to quit their jobs and start traveling the world. He had achieved the dream that so many of us are working toward, all by cleverly riffing on an industry giant. Within two weeks, though, he was bored. Fortunately for us, Mercer's next project is helping others find similar success. Selling everything from wrist braces to cages for tomato plants, Mercer realized he had stumbled upon a proven formula. A formula he could use over and over again that allowed him to find products people wanted, sell them on Amazon, and turn a significant profit. The next step was obvious. Mercer built a tool called Jungle Scout, which allows other ecommerce entrepreneurs to find opportunities to make money on Amazon. Despite having limited himself to a budget of only a thousand dollars, having absolutely no coding or technical experience, or any experience in the software business, Mercer hacked together Jungle Scout, his first bona fide startup. After starting out as a complete novice, Mercer began learning on the job, and despite encountering some classic hurdles and mistakes, has found himself at the head of a fast-growing company. In this episode, you'll learn: Mercer's strategy that anyone can use to make a profit on Amazon What every ecommerce entrepreneur should be aware of when selling online How to build a SaaS from scratch, with no tech skills What to watch out for in ecommerce opportunities How to build and manage a remote team that actually works & so much more!