324 : Greg Mercer – Founder of Junglescout, How accurate sales ( Accusales ) estimates can help you make better product choices for selling on Amazon

Private label podcast

Greg has a reason to be excited. Junglescout steps up every time a competitor raises the bar. Guess what…we all win. I love that Greg is a seller who understands what we all go through. It is not easy but with very accurate data quickly achieved you can jump ahead of your competition. Greg also gives us an update on his million dollar case study and wow has it gone a long way.

 

Mentioned:

Greg’s interview #236

Jungle Scout ($$$$ save $10.00 on the extension $$$$)

Sponsors

Gaye’s Million Dollar Arbitrage List

Solutions4ecommerce

Scope from Sellerlabs

Tactical Arbitrage – Get an 18 day free trial with code: “Tactical”

GoDaddy

Grasshopper

Transcript: (note- this is a new tool I am trying out so it is not perfect- it does seem to be getting better)

Stephen:                             00:00                     I’m excited to talk about my sponsors today, Gaye Lisbey’s million dollar arbitrage group. Amazing, amazing group. This is a teacher. This is Gaye, she was a teacher. She is a teacher. Still. You need to learn. This is the type of environment you want to be in because she’s going to help you understand why, and I think that’s the hardest part of this business is understanding why. Why is the red one popular when the green one isn’t? Well, there’s usually a reason and what Gaye does is probably parse that better than anybody and she’ll explain the reasons for those things. I think that’s really powerful. Yes, she puts out a list. You’re going to get a good use of that list if you get in the group. Now here’s the deal. The group isn’t always open, right? So you get on the waiting list and you can join the waiting list through my link.

Stephen:                             00:46                     Doesn’t cost anything to get on a waiting list and if you like her service, which I find that most people do that, that’s why there’s not so many openings. Um, you’ll be with her for a long time. And so it’s amazing freedom.com. She’s part of Andy Slam. It’s group amazing freedom.com. Forward slash momentum. And you’re going to get in the waiting list. That’s all I can get you on right now. You can use my name and see if that gets you anywhere. But what I like about in the uh, what I like about what they teach in that group or the things that are going on, you know, the current things. I’ve seen a lot of stuff going on about stores going out of business. Well here’s where an opportunity is, here’s why you want to do this. Hey, be cautious about this, you know, with toys r US coming out, you’ve got to think about this and that’s the learning that you need to do.

Stephen:                             01:30                     And Gay is better than anybody else I’ve seen. So I’m amazing. Freedom Dot com. Forward slash momentum will get you to the waiting list. Then hopefully I can get you in the group and then you’re going to see me in there and we can chat anytime you’re ready. Karen lockers, group solutions, the number for ecommerce solutions, four ecommerce.com, forward slash momentum. It’s going to save you 50 bucks. Karen’s our account manager. We recommend her to everyone because she’s done so well for us. I mean that’s quite frankly the reason we’ve been paying her for last few years, but she’s become an important part of our team. Her and her team are so involved in our account. I just see the emails coming back and forth, hey, we did this for you. I just saw two listings today. I’m like, wait a second. Why did they show up?

Stephen:                             02:09                     I did put any listings up. They got a. They got a set off to the side by Amazon and they reactivate them for me. You know what I mean? That’s the stuff that just happens when you have a strong team and I can’t recommend Karen enough if you use my code. Momentum. Karen pays me. I don’t want to hide that. Of course we all know that, but you’re going to say $50 and it’s a great opportunity to really, really build out your team with somebody you can trust. That’s why I recommend them. So solutions four ecommerce solutions, the number four e-commerce dot com, forward slash momentum. It’s going to save you $50. Oh, and by the way, she’s going to do an inventory health report. Why is that important? Well, guess what fees are going up. Is your inventory health number declining like ours is?

Stephen:                             02:57                     Well, here’s why and what they can do. What I like is I get a spreadsheet from them and it says, Hey, here’s a bunch of inventory. Here’s what we recommend. And I’m like, Yep, read refund. I mean a delete a return to us, blah blah, blah, whatever it is and it’s or destroy and it just happens. That’s what I like. The other thing that I have Karen helped me with a lot is creating new listings. We do a lot of the research ourselves. We upload our images and then boom, magically the listing goes live and I don’t have to worry about it. Those are the services that Karen offers. CanNot recommend her enough solutions. Four ecommerce.com forward slash momentum. Save 50 bucks. Use My code. You save $50 a month every single month and it’s a great service. Plus you get that free inventory health report. I think it’s a really powerful way, so I can’t.

Stephen:                             03:45                     I’m so excited how many people have been joining her because I see it and I’m excited because the messages I get from people saying, hey, this is great. I finally feel like I can focus on something else because Karen and her team are watching this for me and I highly recommend her. Next up is scale a seller lambs and scope and we’ll set it wrong. It’s, it’s amazing. I mean, it really is amazing when you sit back and think about, hey, I want to get this product up and it similar to this product and that’s, that product does well. Well therefore, if that product does well, they have the right keywords, they’ve chosen things correctly, so guess what? You scope and you could see all that stuff and that’s what the most powerful thing in the world is to copy somebody who’s done it right.

Stephen:                             04:28                     That’s what you want to. You want to take advantage of that, right? I mean it’s, it’s fair to see and so therefore you can take and apply it to your listing and immediately get that same benefit. That’s what scope does for me. Sellerlabs.com, forward slash momentum. It’s going to save you $50 on the service. Oh, by the way, it’s free to try. So sign up, try it and say, oh, this is how it’s done. Boom. And then you’re going to. The light’s going to go on and you’re going to be like, man, I can get my products out there. I just can’t wait. Can’t wait. So are labs.com forward slash momentum? The other day I bought another domain. Yes, I bought it the other domain. It’s almost like A. I’m admitting guilt, but it’s because I had an idea and it was something that was a pretty good idea I think is going to go pretty far.

Stephen:                             05:18                     And so what do I do? I go to try Godaddy.com forward slash momentum and save 30 percent. So domains aren’t very expensive. You get a few services, it adds up a little bit and I usually buy three years. I usually by privacy, by the way, I recommend that to buy that, you know, it’s not that much money, but when you can save 30 percent it makes it that much sweeter and it makes it easier when you’re buying domains and especially if you buy a bunch of domains. I am a domain collector and so I do tend to do that, but that 30 percent makes it a lot easier and I use godaddy because what I like is I can pop in and address, I’m thinking and it’ll say, nope, nope, could try this version or try this extension and then boom, there it is. Hey, you better hurry before it goes away and the right, you know, and so try Godaddy.com, forward slash momentum save 30 percent.

Stephen:                             06:07                     Also want to mention about grasshopper. Who was that? Just talking to somebody the other day and they were like, Oh yeah, use this company called grasshopper. I’m like, Dude, did you buy it through my link and save 30 percent? Hello? No, they missed that. So save 30 percent. It’s try grasshopper.com. Forward slash momentum. No surprise there, but you’re going to save 30 percent and what the real cool part about that is they’re using it for their private label business and it gives them virtually a second phone on their current phone without having to get another number. They can make up a vanity number. They don’t have to go and do all the grief and sign loan contracts. Pretty easy stuff, and so if you’re creating a brand that you want to identify, you want to look professional, you want to look like a real company. Grasshopper is a great tool. It’s an app you put on your existing phone and boom, you now have a customer service to. You now have a sales department. You’d have a manufacturing division. You could forward it to somebody else. You can have it go to different voicemails, different departments, and it’s all included. So try grasshopper.com, forward slash momentum. Save 30 percent.

Cool voice guy:                  07:13                     Welcome to the ecommerce moment. Didn’t bond gas. Will we focus on the people, the products, and the process of ecommerce selling today. Here’s your host, Steven Peterson.

Stephen:                             07:27                     Welcome back to the ECOMMERCE momentum podcast. This is episode 324, Greg Mercer. I love talking to Greg. I can hang out with that dude if he’s just so enthusiastic. I mean, you can’t be. If you’re going to be excited, you’re going to be [inaudible]. I don’t care what it’s a story he tells, it doesn’t matter. You’re going to get excited and his enthusiasm is absolutely catchy. Um, we catch up on jungle Scout, we get to hear some of the cool things that going on and one of the cool things that they just announced this week he talks about and um, I think it’s so powerful. Again, I think all those things that you can do to improve your business, the more you can parse the data, go look at the price of this thing so nobody gets blown away. I mean, this is dirt cheap, you know, so, so think about it that way.

Stephen:                             08:09                     Okay? Get that out of your head and then sit back and say, Ooh, what could I do with that data? What can I learn? What can I learn about my product? I think some of his advice about improving your product and, and I, I would even take it a step further. It’s continuous improvement of your product. If you find a good product, you improve it, you bring it to market. Don’t stop there. Leah and hers. Corn will tell you all the time. He’s fine tuning his product all the time and he does phenomenal why? Because he works on his business. And I think that this is such a good story, um, that greg brings, um, he’s giving a real examples. The other thing that I love what he does is he has, um, a transparency program. There’s million dollar program out there. You got to go look at this million dollar case study and just look at the things that he’s brought to market.

Stephen:                             08:50                     You can go click on Amazon and actually see them. You can run your keypad charts and look at them overtime. You can run that data and actually see it being done and that’s when hopefully it expands your boundaries and you could see what the potential that you have when you have tools like this. Um, and it’s so inexpensive. I said to him, he should raise his price. I’m sure everybody else gets mad, but it’s the truth. I mean it’s, this is, this is the team that you don’t have to hire because you get the data tool and so I just think it’s very cool. And again, I love his design life. We do get into that because of his recent move is done by design. Again, I just think that’s so important for you. I hope you have years figured out. If not, start today.

Stephen:                             09:28                     Let’s get into the podcast. All right. Welcome back to the ECOMMERCE momentum podcast. Very excited about today’s guest. He’s a repeat. You know, I almost want to get music like intro music, you know, like welcome to the jungle would be cranking right now. If I could kind of come up with music to match the person I’m interviewing, that would be the song that I would choose. And you’ll understand why I wouldn’t understand. It’s Greg Mercer of Jungle Scout. Welcome Greg. Thank you for having me on. I’m excited to be here and some welcome to the jungle music playing in the backyard now would be epic. Yeah, that would be, I mean, come on, that would be pretty cool. You all of a sudden you’d walk a little taller, he’d be like, Oh yeah, they were just cranking up the welcome to the jungle music for me, you know, I mean, that’s me. I mean, that’s, you know, that’s the way I roll, right?

Stephen:                             10:10                     I kind of think about that. I don’t know. I to talk to the team and the team is me, the team. I don’t know. I don’t know about that. So how are you? I’m fantastic. I’m excited to chat with you again. It’s been too long. I enjoyed seeing you at the boost FPA conference and yeah, excited to talk today. I’m excited about what you’ve been doing. He goes, I’m one of the hot things in my world is designing a life now. You’re a lot younger than I am, but to me, I think you’re another good example of somebody who’s designing a life. Their business is key, right? But I think this is fair. For me, it is. I think it’s fair for you, your business and your personal life co-exist. They enter, intertwine. They always overlap. Generally not in a negative way. Is that fair for you?

Stephen:                             10:59                     Yeah, totally. I mean my business is very much as part of my life, but it’s something I’m really passionate about doing it. I’ve kind of designed my business and both my life to, yeah, work together really well. Your parents probably couldn’t say that. I don’t want to put words in your mouth, but I’m just saying no, it was generally that generation or at least the generation before it was like, oh, gotta go to the salt mines, you know, gotTa gotTa go sling, you know, for the man, blah blah blah blah blah. And then they’d leave that unless your dad was an entrepreneur, which is possible, but it’s, it’s different today if you’re careful about it. Fair. Yeah, that’s totally right. I think probably with invention of both, like the Internet opening up all these new opportunities for us probably in combination with maybe like younger generations like willing to like think outside the box a little bit more or really it actually probably really comes down to just like the ease of information to education now, you know, like my parents generation wouldn’t have really had access to like podcasts or youtube or whatever else to learn about different opportunities or you know, like meet other people more easily that are like thinking outside the box or like live lives that they live up to.

Stephen:                             12:06                     So yeah, I think that’s totally a totally accurate comment. And they would have had to look in the encyclopedia which was used to get when we used to get one book, like [inaudible], like somebody come and sold them one book a month or something like that and everybody looked through it. But then you look at one example that was out of date, right? And that was it. And it was like, Oh man, look at him. He’s working from home. That’s cool. And then you never hear about it. So it doesn’t become norm, right, and you just don’t realize it. Now I have a very cool story. So today I met an artist and she’s incredible and very talented and equestrian artist and she’s into horses of course as you would figure it, but she’s just talented. She had this whole business where she created a decals that go on the windows of your vehicles and stuff like that.

Stephen:                             12:46                     And she’s out of business because the companies that used to sell them are gone. Now here I’m looking at her stuff. She had a tee shirts. I was buying boxes from her. She had t shirts, coffee mugs and all this other stuff. Just amazing talent. Right? And her business has gone. And I said to her, I said, uh, she had t shirts that she was selling back then and that’s why she had all this stuff. And I’m like, well, what, what happened? She goes, well, they have all went out of business now she’s my age. Maybe you know, I’m going to give her the benefit of doubt. Say a little younger than me. But she said all the companies went out of business, the pet smarts of the world put all these equestrian places out, and I’m like, but you’re an artist, why aren’t you on Merch by Amazon?

Stephen:                             13:19                     Why aren’t you taking your decals and selling them, you know, and this and that. And she looked at me like, I don’t know how, you know, and it’s not a criticism, she’s busy, she’s got a lot of responsibility going on, but that didn’t exist in her world. And her inability to adapt to it through no fault of her own because she had a sales channel that just went away, that didn’t exist for that generation. And it’s so cool. So I’m going to help her get hooked up on some merchant stuff like that because she’s got so much talent and you know, she’s, I’m like, look, most of us have no skill in designing. You’ve already got all this copyrighted and trademarked stuff. You should do it. You know? It’s just so neat to be able to bring her to that. But if she never met me, would she have ever found that world?

Stephen:                             14:06                     And that’s fair for your parents and your grandparents are. That’s fair for a lot of people still. Why Amazon is such an opportunity and they don’t even know it. You agree? Yeah, I absolutely agree. That’s really cool. You’re totally right. You have to kind of evolve with the times and I guess we’ll be doing the same thing. Come in like 10 or 20 years from now when Amazon starting to fizzle out and the next biggest thing starting to pop up. Right. Does that, does you worry about that? I mean, I think about that stuff for guys like you who put your whole world is Amazon. You’re not into all these other channels and stuff, but you’ve killed it. You’ve grown, you’ve become this enormous company reliant on one, one, one company, another company that you don’t own a I don’t think jeff and you have. Right? So yeah. And so, so do, do you. Does that cross your mind?

Greg:                                     14:57                     It’s actually not something that I worry about. I’m very comfortable with the fact of knowing and understanding and believing that Amazon’s not going to be a great opportunity for ever will. I think it’ll do I think it be a great opportunity for another five or 10 years. Yeah, I do, but I think that would be a little foolish to think it’ll be a great opportunity forever. But you know, I, I take advantage of the Amazon opportunity right now because I honestly truly believe it’s the best opportunity for entrepreneurs right now. And I don’t really, you know, I kind of think of myself as an Amazon seller right now, but I more so think of myself as a entrepreneur, a business owner, and I have the ability now to learn new channels, to learn new things and to kind of like adapt with the Times. I think that’s like part of entrepreneurship, you know? So will I be selling on Amazon forever? No, but what I will be forever is like an entrepreneur who knows how to continuously learn and adapt with the times.

Stephen:                             15:53                     Hmm. That’s a, it’s an interesting point. What would you say are some of the biggest things that you’ve learned in creating jungle scout? Create, I mean a seller and so we can talk about all that, but, but then coming all the way to creating this company with how many employees do you have or how many people working with you

Greg:                                     16:07                     and for you, for the software company, there’s about $75.

Stephen:                             16:12                     Okay. So $75. That’s a lot of responsibility greg. I mean, so that, I mean it is, you know, you think about their lives, their families, their kids, you know, you have an effect on their kids going to cost me. That’s a lot of responsibility. I don’t want to depress you and make you worried, but it’s this cool. What have you learned when you, because you will be able to just take and apply that to the next business. Right? I mean I think that’s the lesson there, but what have you learned the most? You know, what’s the stuff that stands out?

Greg:                                     16:37                     I think what’s really standing out to me right now is building and growing a team lead in leading the team, motivating the team. And um, yeah, I would say it’s mostly around kind of like the leadership principles. I think the strategy side of it comes a little bit more natural to me. Um, you know, I think I’ve been able to kind of like learn things and develop a really solid strategy pretty easily forever. And I’d say like the a little bit harder things for me are the things I right away jumping to my mind is like the um, the things that I’ve learned the most lately lately more so comes around like leading a large team and motivating the large team of people because it’s very different. Right? In the early days it was very much about if I was able to create different stuff, right? Like I was doing facebook ads myself and I was creating landing pages myself and you know, doing a little bit of everything myself. Right. But it’s not like that anymore. If I wanted to be a successful CEO of a company, I can’t really be like digging into like creating landing pages anymore. Instead I need to be thinking about how to put the right resources on the right projects that will have the highest return for us. And Yeah. How to just like overall lead the team the best.

Stephen:                             17:50                     Let me ask you this, and this is an ego thing. The people who create your landing pages now, are they better than what you used to do? I mean, when you look in word, if you were real and real honest, what would you say?

Greg:                                     18:03                     For 90 percent of the tasks that I’ve given up, I would say that people are actually doing a better job than what I was. I was a pretty good generalist, right? Like I knew how to do. I still do like know how to do a little bit of everything, right? Like I could jump into our ad words account now and probably do some optimizations or whatever else, right? I knew how to do like a little bit of everything. Um, but the people that I’m hiring now are very much specialists in this. They’ve been doing this for the past 10 years or the past 15 years or whatever. It’s like I just kinda like learned how to do that over the course of a year or two and just like had it knew how to do it a little bit. So, um, yeah, I have no problem. Kind of like setting my ego aside and admitting that most of the people that are hired are much better at their individual tasks and what I am.

Stephen:                             18:47                     I think that’s powerful. And, and they bring their knowledge and experience from other places and then that hopefully there’s a best practice. Again, I always look for best practice if they bring a better practice and what you’re doing and you can adapt to it, you win, win, right? I mean, hey, you got so many talented, but now you, they just helped improve and advance without doing all that research or they can bring something that was successful and that’s already researched, done. Right. And that’s, that’s powerful too. All right, so cool. So what I think is also cool about you in this design life is you are now in a place that I really want to visit. Where are you at now?

Greg:                                     19:21                     So in January of my wife and I got a place in Austin, Texas, so to, I’m envious, Austin’s pretty amazing. If you recall before that my wife and I, we traveled around for three years straight. So at the beginning of 20 15 we sold our house, sold all of our belongings, our cars, everything packed, everything we left that we own in carry on suitcases and we literally just traveled around the world for three years. Um, so we had no possessions, we had no home. We were like, Airbnb is best customer. And um, yeah, we, my wife and I were still traveling a lot, you know, we’re now a right in the middle of the summer and I think we’ve only been in Austin like 10 weeks, but we do have like a home here now and we ended up like buying a car and we’re starting to accumulate a few things, but we’re much more minimalistic than we were before.

Stephen:                             20:06                     Yeah, that’s a, you’re there now. You’re not going to get a bunch of stuff. You’re, you’re stuck. You’ve got to be able to move on a moment’s notice. You’re a, you’re a nomad. US Right. How, how are, how is travel? Do you hate travel now because you’ve done so much of it or is it still okay?

Greg:                                     20:23                     No, I still love traveling. I travel in such a way that it’s a much different than most people. I think most people that hate traveling, they do probably do a lot of it for work and it’s like a whole bunch of really quick trips that they don’t really want to go on and they come back exhausted from, you know, when I travel places, like for example, I was telling you before we start recording, I’m going to Seattle next week and I only have a obligations in Seattle for like two days, but I’m going to go there on Sunday. I’m going to spend the whole week there. Um, you know, I’m gonna get a coworking space. We’re from Seattle that whole week, so I do it in a much slower pace. I’m able to see cities much more. It’s not exhaust sinks. I’m not going on like these quick 24 hour stints. So I’ve very much so enjoy traveling still.

Stephen:                             21:06                     And that’s an interesting point. You made about coworking space. I hadn’t thought about that. Most people would work out of a hotel or what have you. Why do you choose coworking spaces?

Greg:                                     21:15                     Yeah, so over the years I’ve tried working from a lot of different environments. I think when I first started traveling I was just like working out at the house or the hotel or whatever else. Then I started working out of cafes and um, some other areas. And what I found is a coworking spaces, you know, there are meant for working out of, right? They have good internet, that they have good desks, they have good chairs, you’re surrounded by people who are also working. Oftentimes you’re surrounded by entrepreneurs who are really bright and have good ideas. So it’s by far my favorite place to work. And um, yeah, I mean those are the reasons for it. You know, like when I look back, like trying to work from like these hotels or Airbnb’s oftentimes they had like crappy Wifi that was cutting in and out that would get fed up with or they don’t really have like a proper work desk and chair.

Greg:                                     22:02                     And I mean, that’s fine for like a day or something, but if you’re trying to work on multiple days from that, it really hurts your productivity and just kind of like your overall happiness. One of the things I’ll add to that is I’m a pretty, uh, routine. I’d like routines quite a bit. So, you know, I like waking up early in the morning, quickly showering, you know, getting a cup of coffee and a piece of fruit and then like leaving, going for a walk. And I really enjoy walking to the coworking spaces. So that’s a good time for me to kind of like clear my mind. It gets me a little bit of exercise in a very much separates kind of like my personal life from my work life, which I, uh, which makes me happier.

Stephen:                             22:37                     I think this is really good advice. I’ve not heard anybody say that before, but it’s like, it’s so powerful. Just hearing you say that you might meet the next big idea right next to where you are, right in a coworking space. That person right there could drop that idea right on your lap because they’re looking at you like, oh, why don’t you just do this? And you’re like, oh, because you’re so close to it, and I did get so powerful to get in that environment and you’re getting in that environment. I think the other powerful moment there is you’re getting in that environment all around the country, so you’re getting perspective from all these different people. I think that’s a pro tip right there. That’s a, that’s a strong one right there. All right, Greg is dropping some knowledge here. Alright, so let’s talk about jungle scout. Jungle Scout. I’m deb your, your new elevator pitch because I’m a. I imagine it’s evolved over time, right? I mean he used to be the hey, we can help you search products, find products on Amazon. What is it now? What would you say it is?

Greg:                                     23:31                     Yeah, so I mean the company as a whole now has evolved to a suite of tools to help Amazon sellers because you know, we have like five different tools in a marketplace for services now. So our mission as a company is to empower and Inspire Amazon sellers with the tools, education, and services that they need to be more successful. So that’s kind of like what drives all the different decisions that we make. So the company has evolved from that. You know, like we built three tools, we’ve acquired two tools and we built the marketplace jungle scout in itself. We’re talking about like the jungle scout tool, you know, it, uh, it’s focused still is to help Amazon sellers find profitable opportunities for them on Amazon and help them launch those products on Amazon. So, you know, the tool itself has evolved. It’s much more feature rich.

Greg:                                     24:18                     Most people say it’s easier to use now. We’ve made tons and tons of improvements to it, but jungle scout, the tool itself still has those core principles of helping people find profitable opportunities on Amazon. You know, you have some pretty big testimonials on your website. I’m looking at some of the names. I’m like, Oh boy, oh boy. You’ve got some people that really recommend your product. What does that, does that add fire to it? You know, for you guys, is that what keeps you inspired that you want to keep, you know, figuring more things out, making it easier, making you know, just stronger as the data gets more and more parsed it, you can just make it easy for people. Is that what gives you that fire united say like some of those testimonials, for example, like Robert Kiyosaki, the Rich Dad, poor dad, author, you know, some of those are like cool, but actually wouldn’t say that’s what inspires me.

Greg:                                     25:07                     I’d say what inspires me the most is hearing the success stories from our customers. And I think you were kind of talking about that a little bit. Um, it’s, you know, for example, the boost by FPA conference that we’re at, it’s really fun going to events like that and talking to our customers. I’m talking to our customers all the time, but literally to see people come up to me and like grown men start to tear up and like be in tears. Like I saw you get choked up. That’s real man. It’s real. Like my arm are standing up right now. And I’d say that’s what really inspires me because it’s crazy, right? Like it’s when you’re sitting behind your computer, sometimes it’s easy to get a little bit detached until you start talking to these people and just to hear these stories, like people are like really low spots in their lives.

Greg:                                     25:55                     They like found our educational content, they use our tools to help them. And that was like the turning point of their lives and they’re telling you these stories and it’s like, holy smokes, this is amazing, you know, it’s a. So that’s, I’d say that’s what really gets me excited and fired up. How many people get to say they made a difference in somebody’s life? I mean, that’s, I mean, that’s, that’s cool. I mean, it is cool. It’s very rewarding. Um, and it’s not like you’re charging them, you know, hey, $20,000 for, you know, life coaching. This is real. And I think that’s cool. Alright, let’s talk about some of the other products that jungle scout. I, I think most people know jungle scout. I think it’s, it’s been around for awhile, so it’s maturing a little bit. Let’s talk about the other tools, so keywords scouts, relatively new, so talk about that.

Greg:                                     26:40                     Yeah, so keyword scout is actually one of the features built the jungle scout web app. That’s the latest large release that we’ve had and it’s something that I’m. I’m really impressed how it turned out is actually turned out a little better than I thought it would to be honest. And the feedback we’ve gotten from the customer has been fantastic as well, but it’s a keyword research tool. What? And of course there’s dozens of other keyword research tools in the market. What makes it special is one, it has real search volume straight from Amazon. For anyone who doesn’t believe me, this is what I always tell them, go and bid on a a term, you know, through ppc bid like $10. So you know you’re the highest bid, see how many impressions you get over the course of a month and you’ll be pretty surprised to see that it works out to be like the exact same as kind of like what we’re showing there.

Greg:                                     27:26                     So we get real search data from Amazon. The other thing that I think set really separates it from anything else out there is our ability to recommend similar are irrelevant keywords for your seed keyword. Let me, let me explain what I mean by that. So for example, a lot of people know that I sell a marshmallow sticks. Okay? So when I input the seed keyword marshmallow sticks, if I know this is actually the reason we ended up building our own tool, when I use like our competitor’s tools, I would usually get recommendations like 36 inches, 36 inch marshmallow sticks, bamboo, marshmallow sticks, whatever marshmallow sticks, you know, give me like a whole bunch of words that included like the keyword marshmallow stake and what it didn’t give me were other similar keywords that people search for and end up purchasing marshmallow sticks. So that was like the hardest technical an example.

Greg:                                     28:18                     Give me an example. What would they be searching for? Yeah, so like if I were to put in a marshmallow sticks into Keyword Scout, you get recommendations like a fire pit accessories, smores sticks, kits, things like that. So it’s um, so they wouldn’t have come up in that other searches your point, that’s that whole you missed all that. Yeah, that’s exactly right. And what people were telling us and what we found ourselves as usually find a whole bunch of new keywords that like other keyword tools, even ones that like for Google or whatever else don’t recommend for you. And like I said, I was like the hardest technical challenge for us because it’s difficult to know, like it’s difficult to teach a computer that like how to figure out when people are searching for smores kits that they end up buying marshmallow sticks, but it works really well.

Greg:                                     29:06                     So yeah, that’s um, that’s really what makes it so powerful and that that’s there. The other thing I always liked about jungle scout was the ability to kind of estimate sales, right? How has that gotten better over time? Have you guys figured out how to narrow down what, what a particular product or a set of products are selling on a month? I mean, is that, is that cut and more accurate? So it’s always getting more accurate. However, just at the beginning of this week, we launched a new system that powers the back end of it and we’re calling it accu sales and this is actually the work of two phd data scientists that have been working full time on it for probably 10 months now. So we kind of rebuilt the whole system from the ground up using a machine learning model. And so we just launched at the beginning of this week, we’re doing a case study right now this week where we took a, um, a thousand a sense that we know the real sales data for because people submitted our, gave us access to their seller central accounts and then we’re running our tool versus same thing like, you know, now, you know, there’s like a dozen or more kind of like jungle scout copycats to compare how accurate accurate sales is versus our competitors.

Greg:                                     30:20                     And it’s been pretty amazing. The, um, we’re not finished with it yet. We haven’t done all thousand hastens. But last night, one of the days the scientists just sent me some preliminary information and our median deviation was plus or minus eight percent, which is pretty darn close. So like if it’s saying 100, then it’s really between 92 and 108, which is pretty darn close. And just to give you a little bit of an idea, like some, you know, some of the competitors, they do a pretty good job nowhere. No one like as close as us, um, so there’s some tools out there that do a decent job at it. But there was other tools that kind of shocked us that oftentimes like they were like overestimating or underestimating, but like two or 300 percent. And it’s like, holy crap, like they’re estimating 1300 units. It’s really saying it’s really selling 300 units. That’s the kind of data that like really leads people to make like poor purchasing decision. So yeah, we’re doing this. We did this like we’re doing this whole case study, we’re recording the whole thing so that no one can argue any of it, you know, we’re recording the screen the entire time that we’re checking all these different tools and stuff and we’re going to publish it for everyone to see. So yeah, that’s kind of cool. And, but to answer your question, yes, they’ve gotten much better over time.

Stephen:                             31:31                     Well, because you’re focusing in on that. To me that’s what you gotta do is you’ve got to keep, hey, you got to start from somewhere, right? I’m sure that eight percent you would like to narrow that down. That’s going to be the hard, right? That’s going to be really hard to get it closer and closer because there’s a million variables I’m sure. But to me the fact that you’re paying attention to is a big deal because you know, you’re right, you make buying decisions based on this information. So you, we’re relying that it’s right or reasonably close and to be, you know, an eight percent is way wake. I mean, it’s almost election level close. I mean, that’s, that’s very strong. Um, let’s talk about this, a filtering, say when I want to do one of the, one of the challenges that some of the softwares out there is that you’re only allowed to do so much you if there’s limits to it. Do you guys have limits on what I’m allowed to look at? Are a number of, uh, so much an hour or that kind of thing? Are you, are you restricted based on that?

Greg:                                     32:26                     No, we don’t have any restrictions like that. Um, you can search and filter and do everything is fast as you can as many times as you want per day. You know, like a good example of that I think is like in our keyword tool, you can also do like a reverse asin. So, but what I mean by that is you can paste it into competitors, ace and it will show you all the keywords that they ranked for. And I know other tools like either charge you, like per search or can only do like 10 a day or whatever else. Like we’re with our toilets totally unlimited. You can search for a million per day or as fast as you can type them in there.

Stephen:                             32:58                     One of the things that we talked about last time, and I want to get back to it again because I was, I was fascinated about it was a million dollar case study and I think it was just starting or I’m not sure. It might be. You might not even started yet, but you are going to work on something you were going to actually create, bring products to market and create it and to benefit somebody. I don’t remember the whole story. I’m sorry. I probably should’ve done a little more research on it again to remember my, but can you walk me through what the concept was, what you were trying to do and prove because I think it was more of like a case study. Again, we’re back to this. Hey, let me give you a real example of real. You can see it. You can watch a long so nobody can say it’s fake news, right? Get to drop that phrase in and here’s the results. Can you walk us through that?

Greg:                                     33:40                     Yeah, so it’s a case study that’s called the million dollar case study and we’ve actually through this case study, we’ve launched three products, so we’ve launched marshmallow sticks, baby hooded towels and sleeping bags and actually on August eighth of this year, 2018, we’re launching a season four of the million dollar case study. But let me just give you a little more insight. It’s where we publicly and fully transparently find a good opportunity on Amazon. We find the jungle scout

Stephen:                             34:06                     using jungle Scout, I assume?

Greg:                                     34:07                     Yeah, using jungle scout. Okay. Then we go and we find a supplier. We purchased the product from Amazon and then our sorry from the supplier and we put it up on Amazon. All these products are still on Amazon so you can go there and you can see them and you can follow along with our videos and the case study exactly how we went about launching these products. So I don’t think there’s anything else out there that’s like quite as transparent is that. And one of the cool things about it is all of the proceeds that we make from these products. So there’s three products now are donated to pencils of promise to build schools and uh, underprivileged countries around the world. So we’ve donated enough money to build three schools. One’s under construction right now in Ghana and I’m actually going in a couple months to Ghana to do kind of like the ribbon cutting ceremony for our first school.

Greg:                                     34:53                     So it’s pretty cool. They’ve been sending us pictures of it and um, you know, it’s pretty like, just crazy and inspiring to think like back when I had a corporate job, I would never think a that I was making enough money to do this or be that like you could, I could just sell three products on Amazon, you know, there’ll probably be four before we hit the million dollars in revenue, but like for products on Amazon and from that probably be able to build five schools around the world like in these underprivileged area. So it’s, it’s a, it was a really fun thing to be a part of and it’s, the results have been pretty amazing as well.

Stephen:                             35:26                     It’s genius though, uh, to prove. I mean, to me that transparency a big deal, right to, hey, you know, oh greg, I can’t, I can’t put anything. There’s everything’s out on Amazon already to. There’s nothing. There’s left to create. And you’re saying no. Do the research. Do you, you use the data Steve Wright and talking to me, use the data. It’s there and yes, she got a retard. Nothing’s easy, right? If it was easy, everybody be doing it. You got to do the work. But when you do the work, look, you can have results selling marshmallow sticks. Yes. You still can sell them and bring them to market or a sleeping bag or what happened. But, but wait, Greg, there’s so many sleeping bags. Nobody’s going to want another one right now. That’s not true. I think that’s the powerful statement there. And then to do nothing and then you have no skills other than you’re selling jungle scout.

Stephen:                             36:09                     There’s no skin in the game for you, right? So nobody can say, wow, you’re doing it just to make money. No, no, not, not making a dime on it. I’m just proving, you know, a for real. Um, it’s, it’s very, very cool to me again, that you can make a difference in the world. Right? You’re choking up again, right? We’re back to that guy coming up to you saying how big of a difference in his life you made by bringing this product to market. It’s very, very cool. But now you get to take it on another end. You’re dad must be very, very proud. Yeah. Hopefully he is proud. I think so. That’s pretty cool. I mean, again, back to his generation, he didn’t get the opportunity. He can be in the Rotary Club like me, you know, you can go do, you know, things in your town and stuff like that, but you’re limited. You’re not limited anymore, Greg. And it’s very, very cool. Very inspiring. So, so you’ve been busy, clearly you’ve been building up a team, had been building out a people to replace you in your role. What would you say your role is now? I mean, you said you’re a leader and you’re, you’re working on that. What would you say though your role is now? Uh, when, when people ask you.

Greg:                                     37:13                     Yeah, so I’d say my role is finally like a proper CEO, so you know, if you would’ve asked me even just like for six months ago, I’d probably say my role is to like the founder of a company, right? I identified very much as the founder, but I have moved into more of like a proper ceo role, you know, I’m collaborating with, I kind of like the other executives in our company now coming up with like the higher level strategy, deciding where to devote resources in the company that will, I think will have the highest impact. Um, I still do a lot of the things that like I love to Duke’s like we were talking about earlier, to me it’s still very much is about lifestyle design. Um, but I, I enjoy what I’m doing now.

Stephen:                             37:51                     That’s a very cool. The other thing that I think is very cool about jungle scout is that you’ve come, you’re not just supporting us anymore and I think, you know, when’s the last time you’ve added a country? I mean, maybe that’s a bad question. Hold on. I don’t want to ask that differently because you’ve had, you’ve had a bunch of countries for a while. You’re up to what, nine? I think now. Nine countries you support.

Greg:                                     38:14                     Yeah, all of North America, Europe and India. So the only ones we missing are um, you know, like China, Japan and Australia, which Japan is actually decent size, but China and Australia really small.

Stephen:                             38:26                     Oh, they’re really small. I was asking this question of Alex said, tea, when you bring on a new country, is it, is it easier now because you’ve done it and you know, is it just, you know, wash, rinse, repeat, but just make the language match, which has got to be crazy. I mean, that’s gotta be the hardest thing in the world, the nuances of the language. But is it, has it gotten easier for you as you’ve gone along?

Greg:                                     38:47                     Yeah, absolutely. It’s much easier now than it was before, you know, we’ve already built kind of the framework to do so. Um, so yeah, it’s uh, it’s much easier to edit.

Stephen:                             38:57                     No. Okay. And, and we’re going to get to just a couple more and then I’m going to close it up with your time’s very valuable and I really appreciate you taking the time because I know how busy you are, but one of the things that I’d like to, for people who are sitting here, key force coming up, right? And you know, everybody’s talking about, hey we got to do this. I want to go to private label or I want to do wholesale, I want to do this. What’s your advice with this q four coming up? What, what’s the opportunity that jungle scout can bring to them? I think that’s important for people to understand what, what opportunity can this help them with? Because some people just have no clue.

Greg:                                     39:32                     Yeah. So Joe Scout is used by kind of like sellers of all different selling methods, you know, it’s kind of best designed for people selling private label or wholesale type products. But even people doing like the arbitrage thing or using jungle scout to help them find these profitable opportunities on Amazon. But let me answer your question in a little bit more detail because, you know, like my, um, one of my good college buddies came to me like a couple of weeks ago and he was like, Hey, I want to get started on Amazon. Like what type of advice would you have for me that like you maybe don’t normally give out to the inner.

Stephen:                             40:02                     He had the inside scoop come on. Right? You know it. Come on, tell me. Yeah.

Greg:                                     40:07                     Um, but what I recommend is like my friends and my buddies and I mean even like, of course the public as well now is like my products that do the best and from what I’m seeing out there at the products that are doing the best, like what I’m the biggest fan of at the time is to make some pretty significant improvements to your products. And all I mean by that is um, you know, finding good opportunities on Amazon seems to be the ones in high demand with low competition but are also have, um, a lot of negative reviews. So you know, like if these products are selling really well, even though they only have an average like three stars, that’s like a perfect opportunity to like improve on it. So by that we mean is just read the negative reviews, see what people don’t like about it and then work with a factory to make those improvements.

Greg:                                     40:51                     So I’m doing that with a lot of my products now. That’s what I kind of recommend for other people to do. Um, and oftentimes when you read those negative reviews, which you’ll find is that a lot of the issues are relatively easy to fix. It’s just things like a poor quality zipper or sometimes even just poor quality packaging that lets the product end up getting damaged in transit. So, you know, you don’t, you don’t have to be like an inventor have like this background of, you know, like creating new products to be able to make a lot of these improvements. Oftentimes it’s just communicating what needs to be done to the factory and letting them kind of figure out how to go about doing it. So you know, if you’re listening to this right now and if you’re trying to get started this key forward, that’s what I’d recommend for you. I think it’s

Stephen:                             41:34                     powerful. The other thing I would add on top of it is sometimes it’s the communication of your product, right? The customer has this expectation and your product could do it. They don’t know how to do it. So you got to communicate. And so those instructions, that box, the packaging, all that stuff matters. Infographics in your photos. Now that’s huge deal, right? It’s a huge deal. So people can see what these features are and then understand, yes, this does offer that now. And you get rid of a lot of customer service issues that I think that’s powerful too. All right, so what’s, what’s next for jungle scout because you got to be sitting here saying, okay, this was a huge release, right? This was a big update and it’s a, this accu sales things. Sounds very, very cool. Right? So this is a, this is a big improvement. What’s next? Where, where, where are you looking to see either improvement or directionally? What are you thinking?

Greg:                                     42:21                     Um, so like we’re still devoting like the majority of resources to the jungle scout tool, so there’s a lot of new improvements coming with it later this year. Um, all of them though are still around, still focused around just helping people find more opportunities on Amazon and then we’re trying to expand a little bit and I’m all the way from like, they have no idea where to start or what opportunity to look to help them start from there all the way up until they launch it on Amazon. So a lot of our features and I’m kind of like roadmap for the rest of Europe is all planned around those types of things we like with the jungle scout tool, we really just like helping people find those profitable opportunities on Amazon, getting them launched on there.

Stephen:                             43:03                     Hmm. I love it, love it, love it. All right, so the goal of this podcast is to help people who get stuck. Right? And so, you know, I think you’re in pretty good position because you’ve seen some unbelievable successes and I’m sure you’ve seen some just as many unbelievable failures. And so what’s your advice for people that are stuck? They just, they can’t get started, Greg. They’re sitting here saying, you know, this sounds great. All right, I’m going to go by jungle scout and then they buy it and then they spin their wheels. They’re not taken advantage of it or whatever. It doesn’t have to be just jungle Scout, but you’ve seen, you know what I’m talking about, right? They just can’t get started. What’s your advice?

Greg:                                     43:39                     My advice to those people is just thinking about like where you want to be in let’s say like three or five years from now and just think about are the sacrifices today worth it in order to get like what your, like, what your dream life would look like, a cost. There’s a cost. And let me just give you a 32nd story about this. You know, like I used to work at a corporate company, um, as a civil engineer and I didn’t like it get my whole life. I’ve been passionate about entrepreneurship and I wanted to be an entrepreneur and really for almost an entire year I would come home from my job. I would eat dinner with my wife and then I’d go to starbucks at like 7:00 or 7:30, drink a giant coffee, stay up until one or 2:00 AM, and then I’d have to wake up at like 6:00 AM the next morning to go to work and I pretty much did that for an entire year. But just to give you an idea a little bit about like the sacrifice, you know, like I was like, hey man, like I have to become an entrepreneur. I have to make this work. I do not want to be stuck in this job any longer. So I would just think about that, you know, like imagine yourself three to five years from now where you want to be and just ask yourself like, is a little bit of sacrifice today worth it to make that work?

Stephen:                             44:48                     I think it’s. I think everything. Somebody said that to me, Steve, there’s a cost for everything. Everything costs something. And in that case that year, what has it brought you? Right? If you put your head down and do the work, look how much further along you are. Who Do, that’s powerful stuff. All right, so greg is given us the deal and it’s the same deal, um, that last time you were on. And I really appreciate that. I mean, just so consistent. I mean, again, and I tell this, I use this line all the time. People are gonna be like, all right, we already heard it enough sleep, but I mean this, I looked for people over time, consistency over time, flash in a pan, come and go. But I looked for people who do the same thing, who bring that service, who’s out there over time.

Stephen:                             45:26                     And I think jungle scout is a perfect example that. So it’s saved 10 bucks on the extension is what the offer was. So the chrome extension, which is the coolest thing because you just hit this little button and boom, we’ll will hold a little data to shows up. And it’s like I’m smarter, I know what I’m doing. And you say a $10 on it. I have that link there for you. Um, I’m really excited to see what’s next because I just, when you find tuning things like this, when you’re fixing, you’re fixing when you’re fine tuning the sales thing. I don’t mean to make any inference that it wasn’t accurate, it was, but when you keep fine tuning things like that, when you’re, you’re a sharpening a pencil, I like to say, and it gets sharper and sharper as you get better and better and you figure more things out.

Stephen:                             46:07                     To me, that’s the sign of a good company that’s going to be there in a long run. And that’s what was a very, very powerful, um, aba link to the website, a jungle scout.com. But you want to go down and it’s called the web app and you want to go down in the bottom and look at the comparison and look at the older features that you get. I mean, dude, you don’t charge enough money for the service. Uh, you know, uh, to be honest, I’m sure somebody, somebody arguing, like, some people are like, don’t know, don’t say that Steve. It’s, you know, but to be real, I mean you’re given a lot of value for a very reasonable price and people look at pricing and see how much money, especially to give 10 bucks off of that. It’s very, very kind. I really appreciate that.

Stephen:                             46:45                     Dude. I, I’m very excited for you. I’m excited for the Austin thing. Again, I think the design life and you gave us a very powerful tip with the coworking space. Again, I’m going to try that because I think you’re right because I don’t work well in hotels and I never understood why. It’s just I can’t get comfortable. I just can’t. But you’re right. When you go to work, you go to work. That’s powerful stuff. It’s very cool to design. I think this is exactly what we needed to hear today. Somebody out there saying, this is what I need. Thank you so much, Greg. Steve, thank you very much for having me on. I’ve really enjoyed chatting with you. Peace. Cool guy. So chill. So relaxed. I love the fact that he’s now the real CEO. He’s like the leader. He gets it. Uh, that’s the guy I would like to work for.

Stephen:                             47:27                     I mean, I can follow him off bridge. I guarantee you, you know, he could just, you know, he’s so inspiring and so enthusiastic. I imagine that there’s a whole group of people just following them like lemmings because, you know, he’s a, I don’t say convincing. He’s, you know, that passion comes through and it really, really connects with me and I just love what he does. Again, I just love that. I love that. Ken, do you know, and here’s what we’re doing, here’s why we’re doing it. Here’s what we can do for you. Boom, that’s what you want. So go to jungle scout.com and take a look again, I have the $10 off. Save the 10 bucks, man, he’s given it. Let’s take it. ECOMMERCE momentum.com, ecommerce, momentum, Dukkha, take care.

Cool voice guy:                  48:06                     Thanks for listening to the momentum podcast. All the links mentioned today can be found at incomers momentum. Doug, come under this episode number. Please remember to subscribe and like us on itunes.

 

 

 

Stephen-Peterson

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