Steve Simonson is the Managing Director of Symo Global, a consulting firm composed of veteran high-level executives with a mission to support and aid companies to achieve their goals. Steve is also a lifelong entrepreneur who has built, purchased, sold, and founded several companies over three decades. Additionally, Steve’s companies have been recognized for three years straight by Inc. magazine and have been on its Inc. 500 list. Steve was also a finalist for the Ernst and Young Entrepreneur of the Year award.
Here’s a glimpse of what you’ll learn:
- What is Symo Global, and what does it offer?
- What is Product Savant?
- Strategies companies should employ to survive a recession
- Tactics sellers can take to liquidate inventory
- Resources companies can use to calculate profitability
- Steve talks about Empowery and what it does
- Register with Empowery Mastermind for free virtual entrepreneurial training
- Listen as Steve answers Josh’s rapid-fire questions
In this episode…
Some may say a recession is approaching, and others believe we’re already living in one. While businessman Steve Simonson agrees with the latter, he does not believe these are doom and gloom days. Instead, Steve challenges fellow business owners to strategize in order to come out triumphant on the other side. So, how should entrepreneurs go about doing this?
A lifelong entrepreneur, Steve spends plenty of his time collaborating with intelligent people. He’s learned plenty through trial and error, and what he did not learn from experience, he achieved from brainstorming with some of the greatest minds in free enterprise. As a result, Steve knows how to navigate business in a booming or a shaky economy.
In this episode of the eComm Breakthrough Podcast, Josh Hadley sits down with Steve Simonson, the Managing Director of Symo Global. Steve discusses the actions entrepreneurs must take to prepare their businesses for a recession, including implementing a product profitability analysis and liquidating non-earning inventory. Plus, Steve answers Josh’s rapid-fire questions. So entrepreneurs, grab a pen and paper because you do not want to miss what Steve has to say!
Resources mentioned in this episode:
- Josh Hadley on LinkedIn
- eComm Breakthrough Consulting
- eComm Breakthrough Podcast
- Hadley Designs
- Hadley Designs on Amazon
- Steve Simonson on LinkedIn
- Symo Global
- Steve on Youtube, Twitter, Instagram, Facebook
- Awesomers.com Podcast
- “Steve Simonson – 7 China Mistakes and How to Avoid Them”
- Manny Coats on Linkedin
- Helium 10
- Kevin King
- Product Savants
- Parsimony
- Empowery eCommerce Cooperative
- EmpoweryMastermind.com
- Travis Zigler on LinkedIn
- The E-myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E Gerber
- E-Myth Mastery: The Seven Essential Disciplines for Building a World-Class Company by Michael E Gerber
- The End of the World Is Just Beginning by Peter Zeihan
- Mark Vadon on LinkedIn
- Jay Steinfield on LinkedIn
- Lead From the Core: The 4 Principles for Profit and Prosperity by Jay Steinfield
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…
Listen, Steve Simonson
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, an eight-figure eComm 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. Today, I’m speaking with Steve Simonson, owner, and CEO of Symo Global. And we’re going to be talking a lot about inventory management, scaling businesses, and being wise with your cash as we look at heading into a potential recession. This episode is brought to you by eComm Breakthrough Consulting, where I help seven-figure companies grow to eight figures and beyond. Listen, Steve, I started Hadley Designs back in 2015. And I grew it to an eight-figure brand and seven years, I made a lot of mistakes along the way that made the path of getting to eight figures take a little bit longer. At times, I doubted whether my business could even survive and become a real brand. I wish I would have had a guide to help me along the way to move faster and to avoid many of those stumbling blocks. If our listeners have hit a similar plateau and want to know the next steps to 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. I’m giving away on $10,000 comprehensive business strategy audit session at no cost. And all you need to do is email me at Josh@eCommBreakthrough.com with the subject line “Strategy Audit” to submit your chance to win that strategy audit session. And if you don’t win this go round. Don’t worry for future months, you’re automatically going to be entered. But today, I’m super excited to be introducing you to Steve Simonson. Steve is a lifetime entrepreneur, having founded purchased built and sold numerous companies over the past three decades. Along the way Steve’s companies have been publicly recognized with three consecutive years on the Inc. 500 list, multiple listings on the internet retailer top 500, Washington State fastest growing business, as well as a number of other company accolades. Steve was also a finalist in the Ernst and Young Entrepreneur of the Year award. Steve brings his deep expertise as a leader and operator at many companies, which he has taken from startup to exit. So Steve, welcome to the podcast.
Steve Simonson 2:49
Hey, happy to be here. Josh, I appreciate you having me on. And hopefully we can, you know, dispel a little wisdom or if not a couple jokes.
Josh Hadley 2:57
Hey, I love that. Steve, you’ve got such great experience, why don’t you start us off by telling us more about what’s Symo Global, you’ve obviously a holding company, you’ve got a lot of different businesses you’ve acquired in the past you’ve built you’ve sold, you’ve exited brands, why don’t you tell us what you have going on right now.
Steve Simonson 3:17
You know, so Symo Global, you know, we started that probably back in the mid 2000s. Because I kept doing individual transactions that, I don’t know, it just seemed like they weren’t organized, I like to have a organized view of the world. And so Symo Global has, has been kind of the parent and often the, you know, the exclusive holder of a sub company, sometimes we partner with other companies in the JV environment, to you know, to go off and put together a particular project. But sometimes we’re launching product companies, sometimes we’re launching service companies, sometimes we’re launching software companies and occasionally you know, we sell something and you get a win and other cases, we wind it down because we suck in and it didn’t work. But the old principle is that it’s it’s kind of organized and that you know, everything rolls up into kind of the parent company there.
Josh Hadley 4:12
That makes a lot of sense. And I know we’ve had Kevin King on as a previous guest and I know you’re partners with Kevin King on Product Savants. What is that? Would you mind telling us you know why you two are working together? What what is it that you’re bringing to the table and and Kevin and where’s that experience come from?
