Fraser Smeaton: The $50M Amazon Success Story
Fraser Smeaton: The $50M Amazon Success Story From Losing to Winning Early Years and Career Beginnings Fraser Smeaton’s journey began in the field of Electrical Engineering at university, but his career soon shifted to the corporate world. He spent eight years working in Marketing and General Management roles, where he gained invaluable experience in business strategy and market dynamics. From Side Hustle to Full-Time Entrepreneur In 2009, Fraser started a side hustle that quickly grew into a full-time business. The venture gained rapid traction, going viral within its first year, which led Fraser to leave his corporate job to focus entirely on his new business. Initially, the business was promoted through its website, heavily supported by Facebook advertising, which drove significant growth in the early years. Expansion and Early Challenges As the business grew, Fraser expanded into wholesaling, including becoming an Amazon vendor. This period of expansion, which lasted until 2012, was marked by rapid growth. However, the company soon faced the challenges that come with scaling up. As competition increased and costs soared, the demand for their products began to decrease. The Low Point and Strategic Shift By 2015, Fraser's business faced over £1 million in losses, leading to a workforce reduction by half. Fraser noted that third parties sold their wholesale products on Amazon and decided to sell directly on Amazon to capture retail and wholesale margins and control sales. Refocusing on Amazon Pivoting to Amazon as the main sales channel was pivotal for the company. Success hinged on refining all Amazon-related processes—procurement, logistics, pricing, content, SEO, advertising. Fraser's belief in cumulative small improvements and launching over 150 new products each year drove substantial growth. Navigating the Pandemic The pandemic presented new challenges, particularly as the business struggled while other sectors flourished. However, Fraser’s quick action to control costs and focus on improving internal processes helped the company navigate through this difficult period. Instead of retreating, they used this time to refine operations, setting the stage for future success. Current Success and Business Moat Today, Fraser’s business generates over $50 million annually and employs more than 60 people. The company’s competitive advantage lies in its ability to manage complex operations profitably in a tough category. This expertise has allowed the business to thrive in an increasingly competitive landscape. Looking for a Free PPC Audit? https://www.databrill.com/