2024 Amazon Profit Hacks With Dan Ashburn — You Won’t Believe #3

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2024 Amazon Profit Hacks With Dan Ashburn — You Won’t Believe #3

Dan AshburnDan Ashburn is a notable Amazon entrepreneur and the Co-founder of Titan Network, an invite-only organization for high-end Amazon sellers. He has built several brands and lends this experience as a speaker and the Head Mentor of China Magic. For the past 13 years, he has led Ignite Brands as CEO along with his expert Amazon sales management team.

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

  • How to keep scaling in the difficult landscape of 2024
  • The difference between a million-dollar idea and a million-dollar business
  • The power of proper hiring and delegation
  • A universal framework for PPC methodologies
  • Levers and tactics for maximizing profitability
  • What to know about selecting manufacturers
  • How Amazon’s sustainability program applies to warehousing
  • Budgeting for ad spend with TACoS
  • Perfecting your product to stand out from the competition

In this episode…

Every business is looking to maximize their profits, but far fewer know how to create profit sustainably and consistently. This is especially difficult in 2024 — many previous strategies are no longer viable. Most e-commerce avenues, especially Amazon, are making businesses work harder for their revenue. So how do you stay one step ahead of the competition?

One certain strategy is to look toward successful leaders and see what they are doing correctly. Dan Ashburn helps lead the Titan Network, a selective group of these exact people. Coming together, their expertise is applied to real world scenarios, helping everyone grow to new heights. Now he offers some of his advice for fellow entrepreneurs looking to rise above.

In this episode of the eComm Breakthrough Podcast with Josh Hadley, Dan Ashburn of the Titan Network breaks down his Amazon tips for 2024. They go through the crucial steps of scaling, how to select manufacturers, how to delegate, and figuring out the issue of warehousing. Dan also talks about the levers and strategies to maximize profit.

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 Adam Heist, Kevin King, and Michael E. Gerber, the author of The E-Myth. Today I’m speaking with Dan Ashburn, the co-founder of Titan Network, and we’re going to be talking a lot about how to scale profitably on Amazon in 2024. This episode is brought to you by eComm Breakthrough Consulting, where I help seven figure companies grow to eight figures and beyond. Listen, Dan, I started my business back in 2015. And I grew it to an eight figure brand in seven years. But I made a lot of mistakes along the way that made the path of getting to eight figures take a lot longer than it needed to. There were mistakes that I made when it came to cash flow supply chain ordering the wrong amount of products at the wrong time, or hiring the wrong team members at the wrong time, and not having good hiring processes in place. So to our listeners, those of you who have hit similar challenges, what I wish I would have had is a mentor to help me overcome those stumbling blocks a little bit quicker, and I would have been able to get to those eight figures faster. So for those of you hitting those similar obstacles, go to eCommBreakthrough.com. That’s eComm with two ms 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 at eCommBreakthrough.com. And then your subject line say strategy on it. And then tell me why I should choose you and your brand to work with for this month. But today I am super excited to introduce you all to Dan Ashburn. Dan is an industry leading Amazon entrepreneur with a team that delivers nine figures in annual sales. Having used his ambitious and entrepreneurial mindset to build countless brands, Dan has become a sought after speaker, inspiring crowds with his leadership and depth of knowledge on stages across the world. Dan is the head mentor on China Magic, and is the co-founder of Titan network. So that introduction, welcome to the show, Dan.

Dan Ashburn 2:44

Thanks, Josh. Really, really good to see him.

Josh Hadley 2:46

Dan, I’m super excited to have you on the podcast. You know, out of full disclosure, I am a Titan member, then to a few of your guys’s Titan events, my team watches the Titan PPC videos on a weekly basis. They’re always in those hurdles. And, and so anyways, we follow a lot of your script. But I’m excited to be talking to you today. Because I think the topic of the podcast about how to scale profitably on Amazon in 2024 is much needed. As I attend a lot of different events and talk to a lot of different sellers. I think it’s 90% of people that are saying, All I’m seeing is my profit getting reduced year over year over a year. And even if my sales are increasing, my top line might be growing. My net profit margin is shrinking Amazon fees keep going up PPC costs keep going up the you know, competitors are only increasing. So Dan, I know this has been the subject on your mind and on Titans mind recently. And I would love to hear you know kind of what your thoughts are in terms of how can brands scale successfully and profitably in 2024?

Dan Ashburn 3:59

Yeah, for sure. So I think what it comes down to Josh is really understanding where we’re at, as an industry where the platform’s mature to and where the kind of macro factors are out there. We’re all putting pressure on this system. If you really think about it, there’s only a few core components here. We’ve got product, we’ve got the logistics, we’ve got the platform fees, we’ve got paid advertising, and then you’ve got your content that’s kind of underpinning that. And within that you’ve also got a market that’s dictating the price. So when you take all those different variables, and understand that to get this right, you have to get each one of those cogs turning in in the same direction, giving enough breathing space to the next cog. So that at the end of the day, once you’ve spent money on advertising to acquire a new customer, there’s profit left at the end of the day. That’s really the game. And as we’ve kind of matured on the platform, like you mentioned Amazon PPC costs increasing Amazon fees going up year on year, price suppression in the categories three more company tissues entering a category level, sellers really have to get more sophisticated. It’s gone from being what was kind of an amateur sport a few years ago to really being kind of like precision sport. And you have to kind of be like an Olympic athlete to compete on Amazon in today’s world, but providing that you’ve got a system, and you understand the broad picture of what it is you’re trying to achieve. And then design a plan and strategies that all cohesively work together to deliver that. It still is, hands down the best business there is that you can start with really insignificant capital and generate significant revenue, as you’ve mentioned here at the start they have, so yeah.

Josh Hadley 5:39

I love that. Now, Dan, I’m curious to hear kind of your response to this question. A seven figure seller, right may stumble on to a seven figure business just on their own, right, they maybe have a couple VAs for themselves, but they’re doing over a million dollars in revenue on Amazon. But now they’re seeing things are getting a lot more difficult margin compression, everything. They don’t necessarily have the team and they’re starting to feel like they’re being stretched too thin. What would your response be to a seller in that situation? In terms of you know, you’ve got FBA fees to focus on, you’ve got product costs, you’ve got PPC, the list goes on and on. Where should brands focus on first, if they do want to try to scale to that eight figures and beyond.

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