My name is Austin Brawner, and my purpose is to help eCommerce entrepreneurs build wealth and live more fulfilled lives. You can expect weekly interviews with world-class eCommerce operators, deep dives into what's working right now, and a refreshing break from the "crush-it culture" plaguing our industry. This podcast will change your perspective on building a business, and, hopefully, change your life.
http://www.ecommerceInfluence.com
203: Why You Should Stop Selling Yourself Short and Think Like A Billionaire
Have you stopped to consider the next step in your entrepreneurial journey?
Perhaps you own a six or seven figure business now, but where will you be in 10 years? Will you still be living in the grind? Or are your sights set on acquiring companies and building a portfolio?
Today’s guest has done it all. He’s built his own business, was the CMO of Karmaloop, worked as a consultant, and now is the CEO of AutoAnything (just one of the businesses in his current portfolio). Drew Sanocki is back to talk about this journey and his recent entry into the acquisition side of ecommerce.
Drew will share his insights on buying businesses, establishing company culture, hiring the right team, and why these days he’s more focused on creating alignment than hustling.
Enjoy!
Episode Highlights:- 2:53 A quick win with Facebook’s new cost cap bidding.
- 9:55 The perspective Drew gained from a trip around the world and how it led him to think like a billionaire by focusing on acquiring assets rather than hustling.
- 13:14 How Drew made his first acquisition.
- 16:39 Drew's journey from Chairman of the Board to becoming CEO of AutoAnything.
- 18:50 What it's like to run a $100 million dropshipping company.
- 20:09 Comparing life as the CMO of Karmaloop vs. the CEO of AutoAnything.
- 23:29 The importance of making the right hires if you want to be a successful CEO.
- 25:28 Drew’s approach to building a strong company culture.
- 28:58 The impact of a company’s size on its culture.
- 32:17 How long it took Drew to make cultural changes once he took over as CEO.
- 34:36 Drew’s ebb and flow between lifestyle businesses and managing a company at a larger scale.
- 37:59 A lesson in the importance of thinking like a billionaire.
- 40:01 What you need to know now in order to succeed as an investor in the future, and how to use your current skill set to your advantage.
- 48:25 How Drew made the decision to make a change in his professional life.
- 51:05 The importance of rest, setting boundaries, and work-life balance.
- 53:57 How being starved for resources helps you to prioritize.
- 54:59 OKRs: What are they and how they’ve helped create alignment and focus within Drew’s business.
- 58:15 Why Drew is fired up about direct mail in 2019.
- 1:00:12 How Drew manages to run three companies at once.
- Netflix Culture Deck
- AutoAnything
- PostPilot
- GoSimple
- Nerd Marketing
- Book: Powerful by Patty McCord
- Book: Measure What Matters by John Doerr
- Book: Deep Work by Cal Newport
- Drew on Instagram: @drewsanocki
- Episode 183: How To Manage Your Time Strategically While Growing Your Business
- Episode 116: 4 Profitable Email Strategies You Can Swipe For Your Brand
- Cost Cap Facebook Bidding
- Klaviyo
- Ecommerce Profit Summit (formerly the Brand Growth Experts Intensive)
- Foxwell Digital
- Brand Growth Experts
- Review or subscribe on iTunes
If you’ve enjoyed this podcast, I have something really exciting for you. For the last year and a half I’ve been coaching business owners and marketers inside a group called The Coalition. What launched as an experiment became a game changer for our over 150 members.
If you’d like me and my team of expert marketers and ecommerce operators to coach you on your journey to scaling up your ecommerce business, this is your opportunity. We go in-depth on all the topics we talk about on this podcast and provide actionable training every single month. You’ll also get one-on-one coaching from me to help you grow your business.
Head over to JointheCoalition.com to learn more. Can’t wait to see you inside.
Sponsor: KlaviyoIf you’re looking to grow your business, there’s only one way. By building real, quality customer relationships. Most marketing software will claim that they do this, but they’ll never deliver on those promises. Klaviyo, though, is different. Klaviyo helps you build meaningful customer relationships by listening to and understanding cues from your customers, which allows you to easily turn that information into valuable marketing messages that’ll help grow your business and make more money. That’s why over 10,000 innovative brands have switched to Klaviyo.
If you aren’t already a customer, head over to www.ecommerceinfluence.com/klaviyo and you’ll get a free trial + priority on-boarding.
Sponsor: ShoelaceShoelace helps fast-growing ecommerce stores build brand equity, increase conversions and grow revenue using Customer Journey Retargeting by showing the right ad to the right people at the right time.
Shoelace is excited to announce its all-new integration with Klaviyo. This integration lets you seamlessly synchronize your marketing activity across your email and retargeting channels. Boost your email campaigns by automatically retargeting email recipients across multiple channels. Increase campaign engagement by showing ads to recipients who didn’t open or click an individual campaign. Most importantly, drive growth by effortlessly retargeting all of your Klaviyo lists and segments with personalized messaging.
To find out more visit ecommerceinfluence.com/shoelace and supercharge your email campaigns today.