Dec 20, 2018
Dan Meadors is a co-founder of The Wholesale Formula with Eric Lambert. They began selling on Amazon as a hobby with an original investment of only $600. They worked nights and weekends buying products on clearance at local retail stores and selling them on Amazon for a profit. It only took a few months before they saw the potential to turn this hobby into a business as they both left their day jobs to sell on Amazon full-time. Since then they have been able to generate over $20,000,000 in sales on Amazon. Dan and Eric have developed their own unique system to take advantage of wholesale opportunities called The Wholesale Formula.
Here’s a glimpse of what you’ll learn:
- [1:25] Jeremy introduces his guest, Dan Meadors.
- [2:40] Dan talks about how he got started in the ecommerce industry.
- [15:15] What was venturing into the Private Lable model like? Why switch to wholesale?
- [21:30] Why did Dan decide to stop attending trade shows?
- [25:30] Dan talks about breaking into the wholesale market.
- [28:30] Helping products sell.
- [30:00] Software and tools that Dan his team use.
- [32:45] What Dan looks for in a product that he will wholesale.
- [42:30] Dan explains how wholesale works.
- [45:30] What is the difference between branded and unbranded wholesale?
- [47:30] Feedback from using The Wholesale Formula.
- [51:40] Dan opens up about challenges they’ve faced along the way.
- [54:45] The proudest moment in business for Dan.
- [56:45] How to connect with Dan and The Wholesale Formula.
In this episode…
How does an idea go from a long shot dream to reality? What does
it take to star in your very own ecommerce success story?
On this episode of Inspired Insider, you’ll hear from entrepreneur
and business leader, Dan Meadors. In his conversation with Jeremy,
Dan opens up about how he got started in
the ecommerce industry, why his approach evolved over the
years, how he developed The Wholesale Formula, challenges they’ve
faced along the way, and much more! If you’d like an inside look at
an impressive ecommerce success story, you’ve come to the
right place. Don’t miss a minute of this engaging episode featuring
Dan!
Who doesn’t want to enjoy the freedom and profit that comes from
running your own small business? You get to set your own hours,
enjoy vacations whenever you want, and pile up a sizeable bank
account. What’s not to love? If only that were the truth! Let’s
face it; most small business leaders are a little crazy, you have
to be to put your livelihood on the line! Dan and his business
partner, Eric knew that stepping out to start
their ecommerce business wouldn’t be easy, but they were
determined to chart their course. What can you learn from their
story?
Have you ever met someone who was so dedicated to achieving their
goal that it kind of shocked you? That’s how you would feel if you
met Dan Meadors. Dan and his business partner, Eric have been
through a lot as they’ve built their ecommerce business.
From dabbling with retail arbitrage to trying out a private label
model and then finally landing on the wholesale angle, the guys
have been through a lot. With every twist and turn on their
journey, the one thing that has kept them going is a clear vision
of where they want to be, masters of their journey.
What is it that sets the average business leader apart from those
that take it another step further? Are they hungrier? Are they more
intelligent? Or are they simply more lucky than all the rest? When
you take a look at Dan Meadors’ story, the key ingredients that pop
out is his willingness to adapt and change to find the right route
to success. If you peel back to the success that Dan and Eric have
enjoyed, the critical factor is their ability to switch gears to
find a more lucrative angle. How important is flexibility and
evolution to your success story?
Beyond all the amazing success that Dan and Eric have been able to
build with their business model, they’ve wanted to take it one step
further. Dan and Eric now accept students a couple of times a year
to teach them The Wholesale Formula, a blueprint of the exact steps
they used to build their multi-million dollar Amazon business. As
Dan looks back at some of the most notable moments during his
career in business, what he’s most proud of is how he’s been able
to help men and women learn to build their businesses.
Resources Mentioned on this episode
- The Wholesale Formula
- The Wholesale Formula on Facebook
- The Wholesale Formula on Twitter
- The Wholesale Formula Blog
- Jungle Scout
- RestockPro
- Repricer
- Intro Music by Kidd Russell
Sponsor for this episode
Rise25’s mission is to connect you with your best referral partners and customers.
We do this in 3 ways…
- Our Done for you Media - We help your company completely run and launch your own podcast. we distribute your show across more than 11 different channels including a dedicated blog post and social media. You simply show up and talk and we do everything else. Our team has been working with podcasters since 2009. I personally credit podcasting as the single best thing I have done for my business and my life. It has allowed me to connect with the founders/ceo’s of P90x, Atari, Einstein Bagels, Mattel, Rx Bars, and many more. Besides making best friends and finding my business partner..podcasting has led to relationships with countless customers and referral partners.
- Our Done for you Lead Generation- We manually send a consistent flow of customized outreach messages to your ideal clients and referral sources that you want to connect with to generate more business and clients - this is not paid traffic by the way.
- Our Done for you VIP Events - We do live in-person VIP Days and receptions. These are 100% outsourced VIP days for software companies and conference organizers so we can help you serve your highest level customers. It may or may not involve Elvis costumes - See video
Rise25 VIP Days have a proven track record of helping companies to get more referrals, increase retention with their VIP customers, and get more engaged new customers without adding extra work to that company’s plate.
Rise25 has hosted VIP events in cities such as Austin, Chicago, Santa Barbara, San Diego, New York, Sonoma, and Las Vegas to name a few.
Since these each require a lot of humans to do the work we have limited bandwidth and only want to work with the right company. so if any sound interesting to you go to Rise25.com and contact us or email support (at) rise25.com.
If your company wants to attract and connect with your highest level customers and referral partners then you can learn more and contact us to find out if your company qualifies at Rise25.com.
Rise25 was cofounded by Dr. Jeremy
Weisz and John Corcoran.