Presenting: Mastering factory sourcing: Winning techniques for best prices and protecting product ideas
In today’s competitive e-commerce landscape, the difference between success and failure often lies in sourcing efficiency and product uniqueness. Failing to apply carefully considered sourcing strategies can result in overpaying for the goods and having vulnerable intellectual property.
In his presentation, Sergej will share his insights on securing the best sourcing price, differentiating genuine manufacturers from traders, and tactics for negotiating prices to meet your target margins which align with the 7X to 10X rule, positioning your Amazon business for greater success. You will walk away from with presentation with crucial up-to-date insights on sourcing efficiency and also learn about the essential precautions which will help you to protect your product idea during the sourcing process.
A Serial Entrepreneur Journey Begins: At 17, Sergej embarked on an entrepreneurial journey, initiating a project to sell and assemble children’s playgrounds. Although this venture did not result in sales, it laid the foundation for a mindset focused on learning from failures and moving forward.
Internet Marketing Company: Transitioning to the digital world, Sergej co-founded an internet marketing company, developing websites and advertising campaigns for clients. This phase was marked by creating and nurturing local internet projects, some of which turned into significant income sources.
Fine Jewelry Manufacturing: Diversifying into the luxury market, Sergej and a partner launched a fine jewelry manufacturing business. After five years of successful operation and growth, Sergej made a strategic exit
Exploring New Niches: Post-exit, Sergej explored various niches, including building, service, and selling, he strategically entered the events equipment rental market, focusing on high-end, luxury events with significant investment in quality equipment. This venture quickly established a high market standard, leading to a well-timed and successful exit at the end of 2019
In 2019, Sergej embarked on a journey into Amazon with an investment of $8,000, navigated through market trends, logistical hurdles, and cash flow issues, closing the year with an impressive $650,000 in revenue.
Product Development and Process Mastery: Currently, Sergej is channeling passion towards product development, particularly in understanding machinery, manufacturing processes, and material usage. This focus is coupled with a deep interest in sourcing, negotiation, and immersing in the business culture of China.
In leisure time, Sergej transforms into an airsoft aficionado, relishing the tactical and energetic aspects of the sport. This passion for adventure extends to traveling, where he enjoys exploring diverse cultures and landscapes. During the winter months, Sergej finds refreshment in a unique ritual of basking in a sauna’s warmth followed by a brisk plunge into the snow, embodying a spirit that embraces both the serene and the exhilarating.