Episode #9 - Jan Bednar

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► About The Guests

Jan Bednar started Shipmonk with $30k from a college business plan competition, and in just a little over 5 years, build ShipMonk from $0 to over $300M in annual recurring revenue, 10 locations around the world, and over 2500 exceptional employees. He's a huge proponent of bootstrapping and never used external funding to grow the business. ShipMonk is currently helping over 1,500 eCommerce companies to deliver over 5 million products every month to their customers around the world and has a $900m dollar valuation.

► Show Links

https://www.instagram.com/jan_and_shipmonk/

► Talking Points

0:00 - Intro

2:34 - How he got started with his first business.

7:07 - How did you find your first customers?

12:15 - Why it’s a great time to launch a business on Shopify.

14:17 - What’s the biggest challenge in e-commerce today?

19:27 - Are you trying to double down on the big-size companies/customers more than the little ones?

24:04 - Why VC’s don’t value a business on the profitability of the business.

28:14 - What are some of the biggest screw ups that you’ve made?

34:21 - Customer service mistakes.

37:50 - How to measure the right metrics to improve your business.

41:40 - The importance of hiring the right people sooner.

46:32 - The importance of having a day-to-day mindset.

53:19 - How do you grow a company?

56:46 - How do you know if you have too many layers or not too many?

59:51 - The difference between repetitive meetings and brainstorming.

1:05:54 - How to manage people based on their personality.

1:09:56 - When did you cash out? How long did it take?

1:13:01 - What it was like to get the deal done.

1:19:27 - Scammers are everywhere.