How To Surpass $1 Million Per Month On Amazon and Build A Billion Dollar Company – Dan Brenner and AJ Patel
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Leverage & Scale
Treat the business as though the money belongs to the business and not you in order to scale. When you have high revenue goals it changes your mindset and how you act in terms of how aggressive you are with product rollouts.
The pivot point came after realizing that Amazon is a great cash flow model but if you want to be a real business you have to pivot. In order to become a sustainable business Dan and AJ felt that they needed to find a way out.
Hiring Philosophy
The primary focus is to build a world-class team and source the best talent in order to build a break through business.
Bring on the people you need so you can work on the business instead of in the business then focus on the thought leaders who will take part in scaling. A lot of working ‘on’ the business is thinking about what the long-term strategy is and where the capability gaps are.
One of the most impactful thing to gain insights was the interview process as interviewees offer perspective on what they thought the business should be doing. This is a way to talk to smart people that you might not be qualified to go and ask.
The Corporate Culture
Every employee gets unlimited vacation and paid time off. Any employee can attend any meeting if there is an interest. If they quit they will get $2,500 and leave. They wanted to create a company of employees who think like owners, share the vision.
The Millennial Perspective
Millennials are the only generation to influence their parents, not be brand loyal and care about the company but not necessarily the product. This was an opportunistic area of the market that was not being met. Dan came to the company with insights of working with billion dollar brands and knowing where they were mission opportunities and what the market wanted.
Adding Additional Channels
A big part of the plan of adding an extra zero and growing beyond is to add additional channels. While Amazon is the largest online retailer they are not the only game in town. The most underserved area of a lot of Amazon entrepreneurs is that they aren’t looking to do anything with their own website. Building up your own website forces you to get your brand story right and cohesiveness with the brand architecture.
Dan and AJ partnered up with a thought leader in e-commerce and tied it to metrics so that if he delivers he gets paid.
Tactical Strategy
The inter relatedness of content is crucial through email communication, website copy, social proof, and overall PR. The way to link this together has to be through a funnel otherwise it won’t work.
The strategy is essentially building leads, eyeballs, and overall attention with good conversion processes. The result is collective awareness, which will boost Amazon, website sales, and attention in retail.
If at the end of the funnel there isn’t ROI then it’s not necessarily worth throwing money at it. Even if there is a piece of content that simply talks about the brand there will always be a back end into some form of product that the brand wants the person to buy as it is a legitimate solution for their problem.
Future
The goal is to build the company to a point where people don’t just know about the products sold but are also aware of the culture, and leadership. Ultimately Dan and AJ want to create InstaNatural to be the most culturally relevant personal care company in the world
Resources Mentioned
