We have the privilege of hearing Chad Rubin at The Prosper Show. Chad started CrucialVacuum.com in 2008 as a side business from his apartment, and under his leadership Crucial Vacuum has grown revenue to over $5 million dollars in 2012.
How did you get into the industry?
I started on Wall Street giving advice to various institutional investors to buy/sell internet stocks like Amazon, Ebay etc. I was laid off, and my parents had a brick-and-mortar vacuum store that was struggling. I took their pre-existing inventory, listed it across the web and sold out of that inventory immediately. When I went to replenish it, the cost was outrageous giving me razor thin margins. So I decided to sell direct-to-consumer, cutting out the middleman with the brand Crucial Vacuum
How long have you been in the industry?
I’ve been consistently growing my e-commerce business well above the average e-commerce growth rate for seven years and look forward to the future.
Which topic are you speaking on and why?
Creating a profitable e-commerce business is nearly impossible without a proven blueprint to follow. I've developed a unique way compete in e-commerce, streamlined all the day-to-day and created standardized processes so you can focus on your core competency of building your business. I learned this the hard way, so you don't have to. Topics covered will be outsourcing, virtual assistance & building a successful private label business resulting in a brand.
What is one tip you can share that you've learned as an amazon seller?
Amazon is not a business. It's a channel. Selling online is a lot like the game of Monopoly; you want to be everywhere on the board in order to win. The more channels you’re on the more exposure for your business. 40% of product searches are happening on Amazon so if you aren’t on Amazon, you're not relevant. If you're not selling on other channels, you're missing out on low hanging sales that your competitors are capturing. You need to diversify your business as an Amazon seller.
What is one important trend people should focus on for Q4?
Q4 is all about seizing opportunities and in order for you to do that you need to have the right foundation in place for your business. You wouldn’t build your house on quicksand and if you want your e-commerce business to succeed you need to have the right software and workflows set up. Focus on listing optimizations, keyword advertising and your brands image. Backend issues such, as managing your inventory; underselling & overselling should be taken care of by now.
What is one fun fact about you that we wouldn't know?
I’m a big fan of music, particularly the 90s genre and hip-hop. I’ve recently embarked on taking DJ lessons. I’m still debating a name right now, but I’m leaning towards DJ ThugzBunny. Copyright pending of course.
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