Jun 6 2023
Secrets from a $100M Ecom Entrepreneur
Entrepreneur Nick Mertz on Challenges of E-commerce, In-House Operations, and Hiring the Right People.Today's episode of The Unofficial Shopify Podcast brings you Nick Mertz, the reclusive yet unstoppable e-commerce juggernaut behind $100 million in revenue. This unstoppable entrepreneur has generated over $100 million in revenue with ventures like Rugged Apparel, Adam's Polishes, and Pins & Aces. How does he do it? Discover his strategies for hiring, in-house operations, and mastering growth.Timestamped overview[00:01:21} Podcast featuring successful e-com entrepreneur Nick, discussing challenges and successful ventures, including Leno's Garage.[00:04:38} Started e-com business in college selling survival bracelets, sold it after a few years.[00:08:59} Starting an e-commerce business does not require a lot of money. Differentiation is key to success in a competitive market. Validating the idea is important before starting.[00:12:21} Stick with it, have grit, and don't expect overnight success. One mannequin company survived the 2008 recession while 90% of competitors went out of business. Some products have TikTok booms, but persistence is necessary to turn it into a business.[00:13:50} Two successful products: beer sleeve and liquor stick, with a focus on innovation and marketing. Dealing with copycats involves legal action.[00:20:39} Small brand collab with Bud Light - no license, no royalty, just make cool stuff and use it. Unlimitedbeer sent. Those brand collabs legitimized the brand leading to other collabs. Some licensed stuff, like NCAA.[00:24:38} Starting as a side project, Pins and Aces grew to become a real business by hiring key people while maintaining a fun culture. Hiring slowly and firing quickly is important for building a strong team.[00:27:19} Employees have equity in the company and a bonus program; giving opportunities for growth leads to retention.[00:33:55} DIY approach has drawbacks like lost packages, missing inventory, shipping wrong item, but offers personal touch and control over shipping experience.[00:38:58} New products, collaborations, growing brands, relaunching Hooga Lab, and moving to a new building.[00:41:33} Stay focused on your product and niche, even if it doesn't sell immediately. Grinding it out for at least 6 months can lead to success.Show LinksPins & AcesADAM'sBlue Ocean StrategyNASA Regulations for Merchandising RequestsSponsorsFree 30-day trial of Zipify OCU - To get an unadvertised gift, email email@example.com and ask for the "Tech Nasty Bonus".Venntov, makers of SEO Manager, Order Lookup, and ClockedInRetention.com: Reclaim 5-10x Abandonment RevenueLoop Returns: Ecommerce Returns Management for ShopifyNever miss an episodeSubscribe wherever you get your podcastsJoin Kurt's newsletterHelp the showAsk a question in The Unofficial Shopify Podcast Facebook GroupLeave a reviewSubscribe wherever you get your podcastsWhat's Kurt up to?See our recent work at EthercycleSubscribe to our YouTube ChannelApply to work with Kurt to grow your store.