In this conversation with Luke Pearce of Radical Tea Towel, we talk about how he & his parents took an idea for a novelty product and grew it from a part-time hobby to a full-time business that’s now successful in three different countries.

This episode is perfect for anyone who’s wanting to get started as a product-based business owner, or who’s facing the challenges of growing an ecommerce business and needs the advice of someone who’s been there and done it.

 

Things We Talked About:

  • How he & his parents came up with the idea for Radical Tea Towel: they wanted to buy something they couldn’t find online.
    Having his ears open for a business idea b/c he knew he wanted to take his life in that direction, even though he enjoyed his job at the time.
  • How they took the company from being a side-project to being a full-time gig for all three of them.
    • Why he thinks it would have been helpful to have wanted their company to go full-time from the beginning, rather than just waiting to “see how it goes.”
  • Leaving his job in 2014, three years after starting the company.
    • How he got the business to start generating a full-time salary for him once he quit his job & decided to focus full-time on the business.
  • The monetary challenges of growing an ecommerce business: having money tied up in stock, and needing to pre-order twice as much if/when you want to sell twice as much.
  • Finding ways to get their name out to people that were as cheap as possible.
    • Why Facebook ads were a game changer for them.
  • What Drop shipping is & why it can be an option for some ecommerce entrepreneurs, but not others.
  • Focusing on the quality of the product, whatever manufacturing model you choose.
  • How to find a good manufacturer or supplier: Google it!
  • Why you shouldn’t expect the prices of your samples to be economical.
  • The challenges of minimum order quantities for small sellers.
  • Facebook ads vs. SEO & what each is and isn’t good for. (And examples from our own companies.)
  • Email lists & why they work so well for ecommerce businesses.
  • How to figure out your customer demographics when you’re just getting started & haven’t actually collected any data yet. (Spoiler alert: you guess & just watch the data as it comes in over time.)
    • Google Analytics (Video coming soon to Business Bitch on how to install Google Analytics on your website.)
    • Facebook’s Page Insights
  • How to use what you know about your demographics to reduce your targeting & be more pointed & efficient in your marketing. And/or how to trust the Facebook algorithm to figure it out for you.
  • His advice for new e-commerce business owners.
  • His advice for the Business Bitch community: DO NOT get hung up on admin.

 

Links / Resources Mentioned:

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