Wed, 4 July 2018
Alex Baro really is not your average CEO. He’s only 28 and he’s never even had a full-time job! The trials and tribulations of his online fashion retailer Black Swallow serve as a great lesson for all of us. He built up his company from zero to 10m AUD annual turnover in year two, so how did he do it?
See some of Alex’s top tips below:
** Price is the biggest differentiator in online retailing.
** Suppliers need to genuinely like you. If there is no rapport you won’t get a good deal.
** Do not underestimate the power of video. If you’re selling a product that you believe in, create a video that demonstrates how good it is.
** Get your online advertising right. Alex spends 10% of his annual turnover on Facebook advertising (over a million dollars!).
** Be persistent. One of Alex’s biggest-selling product came after multiple refusals from the supplier.
In this episode of Business Brain Food you will learn:
** The fast-fashion marketplace explained
** The pitfalls of an importation business
** How Alex recovered from being hacked
** The potential cost of outdoor advertising
** How Alex risked everything and made his own luck
Resources mentioned in this episode:
** Would you like to join MaxMyProfit as a Business Excellerator? Visit us here for more information: http://www.maxmyprofit.com.au/about
** Alex’s company website: http://www.blackswallow.com.au
** Black Swallow’s facebook page: https://www.facebook.com/blackswallowboutique/
** The Business Brain Food Facebook group: https://www.facebook.com/groups/businessbrainfood
** All previous BBF episodes & show notes can be found at http://www.businessbrainfood.com.au
** Twitter: https://twitter.com/bfewtrell
Call to action:
Alex’s story is a lesson in persistence. To build that multi-million dollar business you always dreamed of, you need to take some big risks and be prepared to ride out some rough times.
Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that!
Until next time, have a profitable day!
Direct download: BBF183_How_to_go_from_1_million_to_10_million_in_just_2_years_with_alex_baro_01.mp3
Category:general -- posted at: 12:00pm AEST