In Episode #244 Nathan interviews Jana Francis, founder and president of Steals, and a mother of three. Listen as Jana shares how she started Steals in her basement and grew the company to the point where it generates nearly $10M dollars.
- Favorite Book? – Purple Cow
- What CEO do you follow?— Marissa Mayer
- What is your favorite online tool?— Slack
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?— Stop stressing so hard being so poor because one day, you won’t be
Time Stamped Show Notes:
- 01:00 – Nathan’s introduction
- 01:35 – Welcome Jana to the show
- 01:40 – How Steals make money
- 03:10 – Steals holds inventory…that’s the secret
- 03:36 – Steals’ new strategy for reducing inventory holding
- 04:26 – “It all depends on the margin”
- 05:17 – All friction costs are shouldered by their company
- 07:50 – 17% net margin
- 09:43 – Jana started her business in their basement in April of ’08
- 09:56 – Total transaction volume of $680,000 in 2008
- 10:15 – $8M revenues in 2015
- 11:56 – 22 employees in total
- 13:07 – Total emails at 375,000 –which is 55% of Steals’ total revenues
- 16:20 – Snapchat Jana_Steals
- 18:05 – Famous 5
3 Key Points:
- Buying products at a deep discount and reselling at a markup is easy money—IF you’re willing to be patient.
- Most ecommerce businesses are splitting pennies—that’s their downfall.
- Iron out a net-margin and hold onto it.
- Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
- Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
- Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
- Show Notes provided by Mallard Creatives
The Top listeners who listened to this show also listened to these:
FEATURED: 155 Vincent Harris Dorm Room Startup Now Rand Paul’s Internet Army, $1.3m Revenues
181 Kristi Zulhke You won’t believe what she quit corporate P&G for.
165 Nehal Kazim His Revenue Goal Was $600k. His Plan? Fire or Get Fired.
160 Jenn Scalia It is Possible to have 5 year old and do 5 figures every month with Jenn Scalia
159 Eric Siu He Bought a $150k/mo Agency for $2 with Eric Siu
155 Vincent Harris Dorm Room Startup Now Rand Paul’s Internet Army, $1.3m Revenues
134 Gilbert Welsford I produce events and made $100k in September, 2015
102 Christo Hall Pro Surfer to $2m in 12 months with this product?
101 Wes Schaeffer 7 Kids and $500k In Revenue With Wes Schaeffer
96 Chris Sanfiliippo He makes $100k/mo from “Revenge Porn”
76 Lori Latka My mom takes over the show: Buys Real Estate Business, Moves to Horse Ranch for Simple Dream
75 Chris Merkle How he went from intern, to $60k on his first deal, to $3m in revenue this year
63 Alex Harris Staying small and winning big with 6 clients who pay $5k/mo with Alex Harris
62 Brandon Epstein He has a six pack and charges $1k/mo for Instagram consulting to mega-rich clients?
60 Justin Brooke What if growing your one person agency to $90k+/mo was this simple?
57 James Hickey 2 Ways Anyone Can Generate $5k/month with James Hickey
25 Greg Hickman From $110k corporate gig to startup failure, then what? With Greg Hickman.
22 Jaime Turner From Freelance College Speaking to $100k/yr In Speaking Fees with Jaime Turner
18 Franklin Cole From Underwear to $40m In Revenue and Seven figure clients with Franklin C