In-Depth with 7-Figure Amazon Seller Matt Kostan
In this in-depth episode of Seller Sessions, Danny McMillan sits down with Matt Kostan, a serial entrepreneur, to chart his rise from early business experiments to Amazon success and beyond. From selling on Groupon to building million-dollar brands, Matt shares his wins, failures, and insights into what makes an entrepreneur thrive.
Breaking into Business & Early Failures
- First job: Marketing assistant at a small pharma company.
- Quickly gained responsibility, launched direct-to-consumer websites, and caught the CEO's attention.
- Helped grow the company to millions in revenue before it was sold—but had no equity. A lesson learned.
The Leap into E-Commerce
- Moved to a software start-up, gaining exposure to inventory management and online selling.
- First Amazon product: An iPod dock connector adapter—went viral with minimal effort, leading to thousands in sales within weeks.
From Kickstarters to Seven-Figure Brands
- Kickstarter entry: Launched a mosquito repellent bracelet based on successful Groupon sales data.
- Year one on Amazon: Over $1M in revenue.
- Built a travel accessories brand out of personal passion, leveraging email capture via product registration to build a loyal customer base.
- Covid wiped out sales overnight. Adapted by launching a no-touch tool during the pandemic, raising nearly $100K on Kickstarter in 30 days.
The Dark Side of Amazon Success
- Competing with big brands led to suppliers ghosting him—a factory was allegedly bought out by a large corporation.
- Negative reviews killed a promising mosquito tent product—users found it too difficult to fold, despite clear instructions and videos.
Building Product Opinion & the Future of Amazon Selling
- Noticing that top Amazon sellers systematically tested everything, Matt (with Andri Saldak) launched Product Opinion to bring qualitative testing to the Amazon space.
- Lessons from CRO (Conversion Rate Optimisation):
- The HiPPO effect: CEOs often force their opinions into decisions instead of relying on data.
- Frankenstein images: Loading a main image with every "proven" tactic leads to disaster.
🔥 Join Matt at Seller Sessions Live on May 10th!
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