#42January 31, 202047:35

#40 - Paid Courses with Tom Wang, Barstool Acquisition & New Sta…

Amazon FBA logistics Running in-person workshops Building a skincare brand Selling private label businesses

About This Episode

Shaan and Sam interview Tom Wang about his seven-figure Amazon FBA business and his unique model of hosting high-ticket in-person workshops in Vancouver. The hosts also brainstorm various D2C and niche communication business ideas, including dry toothpaste and the success of Utah's 'Mormon Valley' in sales-heavy industries. They conclude with a deep dive into the Penn National acquisition of Barstool Sports and the power of polarized media audiences.

Episode Description

*** JOIN OUR FACEBOOK GROUP for share ideas and insight with each other: www.facebook.com/groups/ourfirstmillion *** Today we first chat to Tom Wang, who has sold a 7 figure Amazon FBA biz + runs a 7 figure FBA Masterclass. Some stuff the guys talk about today is Utah as a new startup hub, Sam ignoring Andrew Yang before he became a democratic candidate, a social network built on Airpods, dry toothpaste, emergency bags, educational content and the recent Barstool acquisition. See acast.com/privacy for privacy and opt-out information.

Key Takeaways

Use in-person workshops to build a high-trust 'fast track' for students, as physical proximity allows for higher price points and lower competition than crowded online platforms.

Review the annual reports of major public retailers like Costco to identify high-volume, 'boring' product categories that are ripe for D2C modernization.

Cultivate a polarized audience that either strongly loves or hates your brand to achieve the high levels of engagement necessary for a successful media exit.

Business Ideas Mentioned

AirPod-Based Silent Communication Network

SaaS

Localized High-Ticket Business Workshops

Content & Media

Modernized Ergonomic Clogs for Professionals

E-commerce

View all ideas

Guest Graveyard Mentions

Erica Nardini

Dave Portnoy

Keith Schacht

View guest graveyard

Featuring

Tom Wang

1 episodes

Share Episode

Quick Stats

Duration47:35

Guests1

Ideas Discussed3

Topics4

Related Episodes

#39

49:18

January 22, 20201 guest

#37 - Mastering Amazon FBA

Ever think your side-hustle could become a million-dollar company? Paul Anderson (@paul_d_andersen) did. Today on My First Million, we sit down with Paul who quit his 9-to-5 to focus on his Amazon FBA and how his passion became a full-blown multi-million dollar company. Side hustles, getting ‘em out there, increasing your profits, credit lines and more this week! Also, go sub to his new personal finance newsletter: https://wealthfam.com/newsletter/ See acast.com/privacy for privacy and opt-out information.

PDA

Paul D. Anderson