Don't go chasing what everyone else is doing. Go find that niche that no one else is doing. And if you’re looking to start an eCommerce business, you know it’s going to be good when you can’t find them at Walmart.
In today’s discussion, corporate lawyer turned e-Commerce business owner Dan Nunney joins Pasha Esfandiary and Cody Littlewood to talk about how he was able to find a niche within a niche in the golf cart parts space. He also dives deep into the processes and systems that he had to put in place to get his business to scale massively.
Here are some power takeaways from today’s conversation:
Episode Highlights:
[14:42] Dan’s Transition From Lawyering to Ecommerce
Dan worked next to a senior partner in his late 50s who was living miserably and was screaming at everyone who came by his office. When Dan left, he had a picture of that guy, got it developed, put it in a picture frame, and put it in his closet. So every morning that he wakes up, he looks at that guy’s face as a reminder that he’s not going back to that life and he uses this as his motivation.
Wanting to have the time freedom that he didn’t have back then, Dan decided to get into the eCommerce business. He liked the idea of creating a business on his computer and being able to work from home or practically anywhere in the world. He found a niche within a niche, selling golf cart parts For Dan, anything where you can't find parts at Walmart, can be a good eCommerce business.
[26:35] Finding Talent and Creating Systems
Finding talented people in other countries is the biggest arbitrage hack in the world. But most companies don't even think about doing it. There are highly talented people in other countries that can do everything – web developers, customer service, admin, bookkeepers, etc.
[27:28] Creating Systems and Hiring the Right People
Part of creating all the systems is getting the right people. Create an SOP or standard operating procedure for every single thing we do in the business. For instance, if you're doing something on the computer, just create a Loom video or screencast while you're doing it, and talk through what you're doing. So it takes you just as long to do it while you're talking and explaining it. And then you give the video to somebody, they create a document, and you never have to do that process again because you've given them every single little nuance of whatever that task was.
[37:07] Going Above and Beyond
In an eCommerce business, especially when you’re selling a product that’s also being sold by other sellers, you have to give an above-and-beyond experience to your customers. Be like the Zappos in whatever industry you’re in by being present at every customer touchpoint.
Resources Mentioned:
Rich Dad Poor Dad by Robert Kiyosaki
