How Advanced Supply Chain Strategies Can Supercharge Your Business With Nathan Resnick

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How Advanced Supply Chain Strategies Can Supercharge Your Business With Nathan Resnick

Nathan ResnickNathan Resnick is the Founder of Sourcify, the fastest-growing sourcing platform that helps hundreds of companies manufacture products worldwide. He has launched dozens of products and, until recently, owned three companies before exiting one of his entities. Nathan has penned several articles for Entrepreneur, The Next Web, and frequents as a guest expert on CNBC. Nathan spent several years living in China and is fluent in Mandarin.

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Here’s a glimpse of what you’ll learn:

  • Nathan Resnick shares his background and the inspiration behind Sourcify
  • Three sourcing tips and tactics to scale to eight figures and beyond
  • Understanding the value of the cash conversion cycle
  • Creative payment terms for factories
  • Strategies for negotiating different terms with manufacturers
  • Nathan explains why businesses should revisit product pricing
  • Balancing between primary and backup suppliers
  • Start with these three companies to source products
  • What is Section 321?

In this episode…

Sourcing is the process of finding and acquiring products a business needs to sell. Though a complex and time-consuming process, it’s essential to the success of a business. But if you’re an amateur e-commerce entrepreneur, you may not know where to start.

Sourcing expert Nathan Resnick recommends doing the research, as there are different ways to source products. You can find suppliers through online directories, trade shows, or networking with other businesses. Once you’ve found a few potential suppliers, your next step is to carefully evaluate them to ensure they’ll provide you with products at a competitive rate.

In this episode of the eComm Breakthrough Podcast, Josh Hadley welcomes Nathan Resnick, Founder and CEO of Sourcify, to discuss product sourcing and supply chain. Nathan shares sourcing strategies to scale a business, how to negotiate with manufacturers, and why business owners should use Section 321. Whether you’re a veteran or novice entrepreneur, Nathan is primed with useful nuggets to supercharge your business. So, stop what you’re doing and tune in now!

Resources mentioned in this episode:

Special Mention(s):

Related Episode(s):

Sponsor for this episode…

This episode is brought to you by Ecomm Breakthrough Consulting where I help seven-figure ecommerce owners grow to eight figures. Of course…

I started Hadley Designs in 2015 and grew it to an eight-figure brand in seven years.

I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.

If you’ve hit a plateau and want to know the next steps to take your business to the next level, then go to www.EcommBreakthrough.com (that’s Ecomm with two M’s) to learn more.

As a special bonus to my podcast listeners, this month I’m giving away one $10,000 comprehensive business strategy audit session at no cost. Email me at josh@ecommbreakthrough.com with the subject line “Strategy Audit” and tell me why your business should win the free audit for the chance to win and don’t worry, if you don’t win the free strategy audit this month, you’ll automatically be entered for future months.

Episode Transcript

Intro 0:04

Welcome to the eComm Breakthrough Podcast. Are you ready to unlock the full potential and growth in your business? You’ve already crossed seven figures in sales, but the challenge is knowing how to take your business to the next level. Join Josh Hadley and eight-figure e-comm. Business Owner and investor, as he interviews highly successful business owners get ready because you’re going to learn specific actions you can take today to help your business reach its full potential and leave a lasting impact on the world.

Josh Hadley 0:37

Welcome to the eComm Breakthrough Podcast. I’m your host Josh Hadley where I interview the top business leaders in e-commerce. Past guests include Kevin King, Howard Thai, and Steve Simonson. Today I’m speaking with Nathan Resnick of Sourcify. And we will be talking a lot about sourcing products and supply chain. This episode is brought to you by eComm Breakthrough Consulting, where I help seven-figure companies grow to eight figures and beyond. Listen, Nathan, I started my brand back in 2015. And we grew it to an eight-figure brand in eight years. But I made a lot of mistakes along the way that made the path of getting to seven to eight figures take a little bit longer than it really needed to. There were times where I doubted myself as a leader or I was having financial issues or cashflow management issues, or having the ability to lead a team and establish a management team for our business. So for any of our listeners that have ran into similar plateaus, and want to know the next steps to help take their business to the next level, then go to eCommBreakthrough.com. That’s e-comm with two M’s to learn more. And as a special bonus to my podcast listeners. This month I’m giving away one $10,000 comprehensive business strategy audit session at no cost. All you need to do is email me at Josh@eCommBreakthrough.com and in your subject line, say strategy audit, and then tell me why I should choose your brand to work with for that strategy audit session. And don’t worry if you don’t win this month, you’ll be entered to win for future months to come. But today I am super excited to introduce you all to Nathan Resnick. Nathan is the Founder of Sourcify, the fastest growing sourcing platform backed by Y Combinator that helps hundreds of companies manufacture products around the world. In the past, Nathan has brought dozens of products to market ran three ecommerce companies. He’s even sold one of them and has been part of projects on Kickstarter raising over seven figures. He writes for media outlets like entrepreneur, the next web business.com And can frequently be seen on CNBC, Nathan also used to live in China and he speaks Mandarin fluently when he’s not in a factory or selling software. He can be found mountain biking, sailing, skiing, fishing, or hiking. So with that introduction, welcome to the show. Nathan,

Nathan Resnick 3:05

Josh, thanks so much for having me on.

Josh Hadley 3:07

Well, I’m super excited to be speaking with you today. You’ve got an extensive background in sourcing products. Obviously, you’ve lived in China, you live and breathe all of this stuff. And I’m also fascinated to learn, you know, why are you so frequently on CNBC? What are you talking about there? And all of those fun business publications. But Nathan, why don’t you give us a quick little background about yourself, you know, what has led you into creating Sourcify and where you are today?

Nathan Resnick 3:37

Yeah, totally. I mean, my kind of belief on life is that everything compounds right. And so my kind of starting supply chain actually starts as a foreign exchange student in China when I was 15 years old. So I lived with a host family attended a local Chinese High School. And that year when I was 15, to 16 just became so fascinated in how products were made. And so there was all those, you know, markets outside of Beijing, like the silk market and pro market. And when I was 15, I started just buying products and selling them on eBay and Amazon and that kind of was my first steps into e-comm. And this was kind of the early days where, you know, there wasn’t as much as much scrutiny around selling you know, what was fake products honestly online and so I started off when I was 15 years old just selling products online and soon realized I needed to create my own brands to have sustainability in E commerce. So I built a watch brand called yes man watches I had a backpack brand sunglasses brand, and you know, really was focused on fashion accessories. And by the time I was 19, I was doing $600,000 online which to me, I was like wow, you know, I made it I remember calling my mom and saying I’m dropping out of college and you know, she was so she valued education so highly that I stayed in school and you know, as my own brands grew, people always asked me how do you sort As products in China, and so when I graduated, I ended up selling that ecommerce brand. And, you know, just started focusing on that problem of helping other companies source products in China. And so that’s when Sourcify started in 2017. And, you know, we now have four offices in Asia, China, Vietnam, India, and Pakistan, an awful lot of ecommerce brands, source products, across Asia,

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