The Ecommerce Influence Podcast

September 2020
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Tue, 29 September 2020

271: The Secret to Lowering Your Taxes with Offshore Business & Global Citizenship

Building an offshore business is often thought to be risky, or even illegal. However, it's now becoming a very common, and legal way, to lower your global tax rate -- as much as 42%.

“Go where you’re treated best,” is Andrew Henderson’s famous tagline.

A US ex-pat and founder of Nomad Capitalist, Andrew has legally lowered his global tax rate from 43% to 1%. Now he helps entrepreneurs keep more of their own money, live freely around the world, and create wealth faster through offshore strategies.

I found Andrew when searching for a way to diversify my citizenship. I quickly discovered that he's a wealth of knowledge on ways to reduce your tax burden and I’m excited for you to listen to the show.

In this episode, we talk about common misconceptions about building an offshore business, what it’s really like living a nomadic lifestyle, and the benefits it can offer to both you and your family.

Enjoy!

Episode Highlights

4:47 Andrew’s philosophy of viewing the world as your buffet
6:57 The history behind flag theory
9:48 Why you should be harnessing difficult countries for different benefits
13:02 The biggest misconceptions about offshore business
19:26 A case for investing in international real estate
22:46 Challenges associated with frontier markets
26:05 How families are taking advantage of global citizenship
30:21 The differences between a tax-friendly state and a tax-friendly country
33:51 What it’s like living a nomadic lifestyle
37:35 Andrew’s hypothesis on the future state of taxes
42:02 How to approach getting a second passport
47:42 Questions to ask yourself when deciding if an offshore business is right for you
52:03 Where you can get in touch with Andrew

Links and Resources:

Direct download: EI_271_AndrewHenderson_1.mp3
Category:general -- posted at: 3:00am CST

Tue, 22 September 2020

270: $100MM in Less than Two Years: How Perfect Keto Grew a 9-Figure Business

Perfect Keto started off as a side project and then experienced massive growth -- making $100MM in just 19 months.

Dr. Anthony Gustin cofounded Perfect Keto as a side project in November of 2016. He had one goal in mind: making keto easy. Within 4 hours of launching, the company made $20,000 and took off like a rocketship since. Little did he know, the creation of Perfect Keto was at the rise of one of the largest diet crazes of the past 50 years.

Anthony joins us to talk about Perfect Keto's growth, his business beliefs, and why retail is a last resort. We also discuss his experience of burnout and how entrepreneurs can best avoid it.

Enjoy!

Episode Highlights

4:58 The problem with copying someone else’s formula for success
7:15 Starting a multimillion-dollar company by accident
12:52 What it’s like riding the wave of one of the largest diet crazes
16:02 How to solve nearly all of the problems in your business
20:00 Perfect Keto’s science experiment approach to business
22:03 Anthony’s experience with burnout
28:31 What Anthony wishes he knew before launching Perfect Keto
32:00 Anthony’s new approach to building teams and building a solid business foundation
34:02 The next health problem Anthony is looking to solve
36:42 What business owner’s need to know about entering retail
39:25 Advice for entrepreneurs working long hours and going off the grid
44:41 A mindset shift for entrepreneurs to start enjoying the process
50:17 How you can connect with Anthony

Links and Resources:

Direct download: EI_270_AnthonyGustin.mp3
Category:general -- posted at: 3:00am CST

Tue, 15 September 2020

269: Essential Beliefs, Characteristics, and Habits of 9-Figure Ecommerce Entrepreneurs

Do you have a dream of building a 9-figure business? We’ve worked with Ecommerce entrepreneurs who have and here’s what they have in common.

Today I’m taking you behind the scenes into the Coalition, my Ecommerce coaching community for Ecommerce entrepreneurs. Every month we have a live training that dives into one aspect of growing your Ecommerce business. In this training, we are talking about the mindset shifts needed to reach 9-figure growth.

Drew Sanocki, CEO of AutoAnything and former CMO KarmaLoop, joins us and shares his experience running multiple 9-figure businesses. If you own or work with an established Ecommerce business and want to reach for that same success, this is for you.

Episode Highlights

8:31 The #1 prerequisite for building a 9-figure business
11:37 A key team characteristic at fast-growing companies
15:24 An unexpected truth about reinvention and the willingness to pivot
18:35 How to be laser-focused on your brand
20:10 Changing your philosophy around hiring and how to attract top talent
23:03 What your role as the founder actually evolves into
25:58 This is the #1 way to not get what you want
28:11 A founder’s trade-off between growth and time
30:57 Drew Sanocki’s background in Ecommerce
32:30 The biggest differences between a 7-figure and 9-figure company
34:48 When to introduce middle management to your team
37:27 What Drew spends the most time doing in his business today
44:30 Drew’s philosophy on hiring and the power of networking
46:57 What successful founders have in common
50:52 The difference between being a single founder and having a co-founder
52:59 Putting together a board for your business
54:08 How to build the most wealth as an entrepreneur
59:02 Auditions vs Hiring: How to ensure you’ve found the right fit
1:01:16 Deciding to keep your role as the CEO in a growing company
1:05:43 The difference between running a software company and Ecommerce business
1:13:08 Believing that an exit is possible
1:15:07 Why we are in the Golden Age of Ecommerce

Links and Resources:

Direct download: EI_269_100M_Mindset.mp3
Category:general -- posted at: 3:00am CST

Tue, 8 September 2020

268: How A Pivot In This Founder’s Role & COVID-19 Led To 100% Year-Over-Year Growth

COVID-19 Is Presenting Opportunities For Ecommerce And For This Brand, They've Contributed To 100% Year-Over-Year Growth.

Kevin Chen is the Co-Founder and President of iRestore, a company that sells laser hair growth systems. Kevin is a long time client of the Brand Guild and when I last had him on the podcast, iRestore cracked the code on paid social and turned into an 8-figure business. Since then, Kevin's role has changed dramatically within the business, and it has continued to grow, despite unforeseen COVID-19 challenges.

In this episode, Kevin talks about creating a tight-knit organization that works remotely, increasing productivity, building company culture, team transparency, and the opportunities COVID-19 is presenting for eCommerce.

Episode Highlights

6:58 What iRestore’s 100% year-over-year growth has looked like
7:36 The product launch that changed the economics of Kevin’s business
12:33 The only two skills Kevin realized he needs to help the business succeed
15:18 Lessons from COVID-19 on how to future-proof your business
18:53 Creating an optimal work environment and strong company culture
21:38 The impact of working remotely on productivity
24:08 What Kevin’s team looks like today
26:19 Four things to consider when hiring an agency
29:17 How iRestore manages their paid advertising efforts
31:30 The unexpected source of fulfillment for Kevin in his business
33:55 How iRestore is creating a better employee experience
36:28 The most challenging yet critical piece to your business success
38:50 Kevin’s struggle with transparency with his team
41:02 Fortunate opportunities in an unfortunate time: What iRestore is doubling down on
44:10 The freedom COVID-19 has given iRestore
46:09 What Kevin attributes the businesses’ largest inflection points to
48:38 iRestore is hiring!

Links and Resources:

iRestore
kevin@irestorelaser.com
Kevin on LinkedIn
Podcast: Episode 197: The Inside Story Of How iRestore Scaled To 8 Figures
The Brand Guild
The Coalition
@a_brawn on Twitter
Brand Growth Experts
Review or subscribe on iTunes

Direct download: EI_268_KevinChen.mp3
Category:general -- posted at: 8:40am CST

Tue, 1 September 2020

267: THROWBACK: How The Top Ecommerce Brands Scale Up (And What You Can Learn From Them)

This week we're bringing you throwback that is all about the difference between brands that scale and those that don’t.

Kurt Elster interviewed me on the Unofficial Shopify Podcast and after re-listening to the episode, I wanted to share it with you. Kurt asks great questions and I outline my entire philosophy on growth.

In this episode, we talk about defining a growth strategy, scaling your advertising, and how to hire the team necessary to get to the next level. I also share what I’ve learned from working with some of the fastest-growing brands in the country.

Enjoy!

Episode Highlights

4:30 How Austin has helped many brands scale from $500k to $1MM.
7:00 Why it's so important to do almost every job in your business before turning it over to someone else.
8:27 The big differences between the Shopify brands that scale up and those that don't.
12:00 How to remove tasks from your plate so your business can scale.
14:20 The core KPI's Austin uses to understand his client's scalability.
15:56 Understanding what your net promoter score is and why it is so valuable to ecommerce brands.
23:00 The point at which Austin regularly sees businesses die out and how you can overcome it.
30:17 Everyone wants to scale their business but it does come with a few downsides.
33:45 How PR has helped many ecommerce brands become successful.
39:34 The questions you should be asking yourself to help you define your success.

Links and Resources:

Direct download: EI_267_KurtElster160Replay_BGEIncrease.mp3
Category:general -- posted at: 3:00am CST