Description

In this episode, Steve Larosiliere interviews JT Belknap from DFM Toolworks. JT shares his journey of starting a woodworking tool business. He discusses the challenges of entering a market dominated by overseas sellers and the importance of making their products in the US. JT talks about the initial funding and the use of credit cards and partnerships to bootstrap the business. He also highlights the benefits of selling on Amazon and the scalability it offers. JT shares his experience with automation and the use of robots in manufacturing. He also mentions the challenges of expanding into other product lines and the importance of focusing on woodworking to pay the bills. JT discusses the challenges of selling on Amazon and the importance of data analysis. He considers the benefits of starting a podcast for brand building and lead generation.

Takeaways:

• Selling on Amazon provides scalability and the ability to experiment with new products.
• Automation, including robots, has helped improve efficiency in manufacturing.
• Expanding into other product lines can be challenging, and it's important to focus on the core business to generate revenue.
• Selling on Amazon has become more competitive, with increased competition and carbon copies of products.
• Analyzing data on Amazon can provide valuable insights into market size and market share.
• Podcasting can be a powerful tool for brand building and lead generation.
• Building a community around a brand and providing value upfront can help attract and retain customers.
• Utilizing data and databases can provide valuable insights for business growth.

Chapters:

00:00 Introduction and Background

07:21 Managing a Team of Part-Time Employees

11:41 Scalability and Automation with Amazon

16:23 Challenges of Expanding into Other Product Lines

30:24 Building a Community and Providing Value

Join the Woodpreneur Network and Community at Woodpreneur.com or Woodpreneurnetwork.com

Connect with JT at:

https://www.instagram.com/dfmtoolworks/