TMBA 419: You Are Who You Meet

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Dan and Ian have spent many years on this show discussing the importance of surrounding yourself with supportive people who share the entrepreneurial vision that you have for your life.

Today’s guest can attest to that.

Nate Ginsburg has built a successful Amazon business over the last two years, which he recently sold for just under a million dollars. He didn’t do it alone, though.

On this week’s show, you’ll hear how a chance encounter in the rolling hills of Northern Thailand led Nate on a great entrepreneurial journey.

Transcript

Listen to this week’s show and learn:

  • Who inspired Nate to pursue entrepreneurship. (2:15)
  • How a meeting with a Mastermind group helped Nate find his way on Amazon. (10:44)
  • Why Nate decided to join up with a business partner. (20:01)
  • The circumstances that led to the sale of their business. (23:10)
  • Why it pays to surround yourself with the right people. (35:38)

Mentioned in the episode:

This week’s sponsor:

This week’s episode is brought to you by Refund Retriever. Refund Retriever is an unbelievably powerful tool for any business that uses UPS or FedEx to ship their products. Refund Retriever will automatically audit your invoices for late deliveries and other billing mistakes, and will directly liaise with these shipping companies to ensure that you are receiving full credit for any refunds that you are entitled to. The best part is that their fee comes out of the savings that Refund Retriever makes for you, so you only pay when you save.

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian

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Published on 12.14.17
  • Matt Elder

    Thought this was a great and inspiring episode. I liked how it touched upon the team, network and product/business. Interesting to get the backstory, startup, investment, growth and exit.

  • cheers Matt glad you dug it !

  • Great Episode – Thanks guys & Nate

  • ryannagy

    Great episode. I like the way you kept circling back the when he started and sold the business to give us a sense of how quickly he made that money. I was not able to figure out how the 950K valuation came about. Thoughts on that? If the business was netting say 26K per month or about 316K per year, that would be a multiple of 3, correct? Paying for 3 years of net profits. But I have no idea how these things work.

  • ryannagy

    Also, I found myself really curious about how much his partner bough in for and how much of the sale price he would have gotten. (Not that anyone owes me an answer!)

  • Just found your podcast after meeting a couple of DC guys in Ho Chi Minh City. Love the content and value! This episode was inspiring and authentic. Thank you. I have been catching up on a few other episodes but was wondering if you can point to podcast #’s that have similar subject matter focus around drop shipping that would be valuable? Thank you.

  • cheers Matt welcome to the pod. you could start here: http://www.tropicalmba.com/dropshippinglife/

  • cheers :)

  • hey Ryan that logic defo holds up and would be the ‘industry’ standard, you can get a good sense for where the market is at by subscribing to Empire Flippers marketplace updates and the FBA broker’s market reports.

  • Perfect! Thank you! Hope its a great new year!

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