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Entrepreneur Unleashed
Entrepreneur Unleashed focuses on sharing with the audience the struggles of the podcast guests throughout their entrepreneurial journey. As entrepreneurs, we always learn the biggest lessons from our lowest points, both personally and professionally. This is an amazing opportunity for the podcast guest to share his or her story and at the same time, it gives an immense amount of value to our listeners as they will have the chance to listen to the pitfalls of other entrepreneurs and learn vicariously of their past challenges.
Entrepreneur Unleashed
From Idea to Profit: Mastering Entrepreneurship with Amazon FBA ⎮ David Scheuer
Join us as we sit down with Dave, an Amazon FBA expert and coach, to hear his inspiring story of overcoming the odds to become a successful entrepreneur. Dave shares his journey, from struggling with a traditional business to finding success through Amazon FBA, and how he now helps others achieve their own entrepreneurial dreams through coaching and mentorship.
Connect With David:
Instagram: https://www.instagram.com/ecomdave/
Web: https://ecomdave.com/podcast
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David Scheuer 00:00
I would say the biggest piece of advice is just whatever idea that you have in your head. Okay? whatever business you want to start, just go out there and get it started. Listen, I come from nothing. My name is Ecomm Dave, and you're watching Entrepreneur Unleashed.
Edward Collins 00:15
Welcome back to another episode of Entrepreneur Unleashed. I'm so happy you're here. If you've been following us at all, you know that I honestly believe the best way to shortcut your journey of success is to learn vicariously from others who've already been through it. And today, I'm joined by Ecommerce, David, he's going to be sharing his trials and triumphs, you're not going to want to miss it. And I don't want to waste any more of your time. Let's jump right into today's episode. David, thank you so much for being here.
David Scheuer 00:40
Thank you. Thank you. Thank you for having me. I'm honored,
Edward Collins 00:43
The honor is mine. I mean, I've learned a little bit about your story. And we're definitely gonna dive a lot into it. But what I'd like you to do is in just the next minute to two minutes, give me a synopsis of where you are right now in business, and where you see yourself going over the course of the next, let's say, a year to two years.
David Scheuer 01:02
So right now, I would say, I just left the building phase of the business itself. Building the team, that was all done last year, you know, we've 20x the amount of people that I'm employing last year, so I grew like, extremely fast. So this year, I'm focusing more on expanding to different marketplaces. I just went to the Spanish market. And yeah, just my next phase is to do the German market now with my Amazon program. So in just just seeing seeing it scale. Last year, my business did a 10x. Ideally, I would love to see that. But you want to be a little it's 10. Next would be would be wonderful. Wonderful. Yeah. Yeah, exactly. Yeah. But I would say I'd be happy with with just a 2x. Because obviously, as the business grows, you can only x so much.
Edward Collins 02:10
Scale is logarithmic.
David Scheuer 02:11
Correct.
Edward Collins 02:12
It's much easier to scale pretty high.
David Scheuer 02:13
Yeah.
Edward Collins 02:14
In the beginning phase. So
David Scheuer 02:15
Yeah. So right now I'm just in scaling, I think the team is the team is solid, which is I would say one of the hardest thing I have done is put together the right team, the right sales team, the right coaches, with the right experience to you know, to help those students, you know, be successful with Amazon. And, and yeah, well, my particular obviously, Amazon store has also been scaling as well. So yes, I do practice what I do preach.
Edward Collins 02:41
So that's one of the things I love about your story is that you're not just a teacher or an educator, you're a practitioner, as well. So you're bringing practical knowledge to the table for the students who served.
David Scheuer 02:52
Yes.
Edward Collins 02:52
Now, your story is also interesting, because I've done a little bit of internet stalking. This is our first time meeting.
David Scheuer 02:58
Yes.
Edward Collins 03:00
Like you're you're from Peru originally. And I believe you moved here when you were 11.
David Scheuer 03:04
Yes, correct.
Edward Collins 03:05
So what was that transition like for you at that age?
David Scheuer 03:08
Um, well, you know what it was, it was amazing. When I was in Peru, I love the American culture so much. That when I moved to Seattle, so I didn't even move to Miami, I moved to Seattle, Washington, which is like, you know, like, really American. And, you know, I got love, like, rock music in the beginning. So like Seattle was the city for? Yeah, so it was, it was a great experience. You know, as far as like, having like, Latin culture there. There wasn't that many Latin people, which was that was I was missing that. So that's why I decided to move to Miami. At 18 by myself.
Edward Collins 03:53
Wow.
David Scheuer 03:54
I was 18 when I came there, I look at an 18 year old. I'm like, wow, that was good, you know. But yeah, the experience of moving to Seattle was great. You know, I learned a lot there. But I came on vacation to when I was 17 to Miami and I will write back
Edward Collins 04:10
As soon as you turn 18?
David Scheuer 04:11
Yeah, so I saved up like $3,000 and I moved here by myself.
Edward Collins 04:18
Wow.
David Scheuer 04:18
I got lucky I was I started in hospitality, you know, just working in restaurants and stuff. Just because I needed cash. Again, everything was funded by me. Like I just came here. I didn't no help from my parents and nothing like that was like I'm going to Miami and my mother's supported and I came here and then you know, just started the grind. I went to I went to school here for like a semester for business. But you know, I just that wasn't really my route. I was in hospitality for a while I use the money to start a couple of different businesses. I tried doing real estate for a while.
Edward Collins 04:54
Okay.
David Scheuer 04:54
That didn't really you know, I just
Edward Collins 04:56
Like real estate sales?
David Scheuer 04:58
Yeah, being a realtor I saved some money I started, I tried doing a digital marketing agency as well working with influencers and all that. It was a fun business, but I just didn't see a scalability on it. So what really worked out for me was ecommerce. So I started my Amazon store while I was a bartender, here in Miami, and this was in 2017. And started with one product, then two, then three, then four. And then, you know, my, that first year, the store did about six, six figures, which is not bad. It was paying for my rent at the time. So yeah, okay, cool. Like, I got something. The second year, you know, I TRIACs the store. And then what really turned things for me was around 2019, I started joining all these Facebook groups for like Amazon sellers. And, and I started sharing my results there, and it'll be like, Wow, how are you doing? Yeah, so he just became super organic. I was like, Well, you know, he'll help you out. So it was like from one person, two people, three people. And I'm like, okay, cool. Like I can build another business here as well. Right. So
Edward Collins 06:22
Let's backtrack.
David Scheuer 06:23
Yeah.
Edward Collins 06:23
Because you got started in hospitality but specifically we were you serving we bartending, like what was the what was
David Scheuer 06:29
Yeah, I was for my very first job. Yeah, I was a server and Ocean Drive.
Edward Collins 06:33
Okay. Oh, yeah. Okay.
David Scheuer 06:36
This was back in. Yeah. So I moved here in 2008.
Edward Collins 06:41
Okay.
David Scheuer 06:41
So I was like, 18 just serving which was you know, in you know, what's funny about Miami at the time, it was like the recession was happening.
Edward Collins 06:49
Yes.
David Scheuer 06:49
Miami was doing pretty good. I was like, what recession because he got so much international money here.
Edward Collins 06:55
Yeah.
David Scheuer 06:56
And yeah, so then I did that. I actually got a job to a like a luxury car rental business. So like, the whole Miami thing.
Edward Collins 07:04
Yeah.
David Scheuer 07:04
I was like driving cool cars when I was like, 20 you're giving?
Edward Collins 07:08
Yeah, yeah. If you want to put me through like something like a multimillion dollar vehicle, I'm happy to drive.
David Scheuer 07:14
Yeah. Um, but then I went back to hospitality. I started working at the nightclub zero as a bartender then.
Edward Collins 07:22
Okay.
David Scheuer 07:23
Yeah. Went from server and then I had some experience so I know they were opening the Fountain Blue. I worked at the Fountain Blue.
Edward Collins 07:29
Okay.
David Scheuer 07:29
Yeah. I started this club called Arcadia then I started working at live.
Edward Collins 07:35
Okay, you are definitely in the heart of it.
David Scheuer 07:37
Yeah, I was in the heart of it.
Edward Collins 07:39
How do you think that that experience is impacted you because like, I know of a lot of business owners who have gone through that route where they've, they've worked in hospitality, they they got a lot of customer service experience and a lot of dealing with people and human being
David Scheuer 07:54
Yes.
Edward Collins 07:55
How was that for you?
David Scheuer 07:55
So yeah, so working with you know, people bartending, you do learn a lot about how to engage in read people, right? There are people that just spend all their life in a computer and they just don't have the social skills. So that actually translated into just you know, the marketing side of things for myself. And yeah, I don't I don't ever get anything I think you know, work in hospitality so long has taught me a lot of things just about life. It's you know, life itself. And you know, how to just feel the way you would say that I would say like just the energy on somebody. Maybe you're getting into business with somebody I'd be like, I don't know that guy is definitely sketchy.
Edward Collins 08:04
Right. Yeah. The club's you could definitely tell who this guy.
David Scheuer 08:42
Yeah, no, just yeah. Just reading people. Yeah. So
Edward Collins 08:46
When you look at the transition you made then from from the hospitality jobs, the one off jobs? Like what gave you the idea to do and get involved with Amazon? Because that's a whole different type of business.
David Scheuer 09:02
Yeah. So um, I was working six days a week until six in the morning. Okay. It was fun in the very beginning when you're in your 20s, Yeah, yeah. So around, I was 27. I was like, Man, I can't I can really not see myself doing this when I'm 30. Like, I'm gonna kill myself like those hours. Money was great. Or, you know, for being a bartender, I was doing that I wasn't doing that bad. Then then I was like, well, there's no way I can get another job. Because I only I'm already working so much in this one, and I can get another bartender job. I'll kill myself. But I always wanted more. I've always tried different businesses, right. Like I said, I tried to be a digital marketing agency. I always wanted to own my own business.
Edward Collins 09:45
Right.
David Scheuer 09:46
So I am I remember this there is a clearly I'm laying in my bed. I'm like, Okay, what do I do? Like I need to start a business now. I researched how to make money online, literally on Google.
Edward Collins 10:00
Right, right.
David Scheuer 10:00
This video from like, Gary Vee comes up and he's like, do you know Gary Vee?
Edward Collins 10:05
Gary Vaynerchuk?
David Scheuer 10:06
Yeah, like, yeah, and I hope you know when they I can show this to him but um, I'm like the he goes, You can be right now in your house, buy products from Walmart and resell them on Amazon. He was talking about drop shipping.
Edward Collins 10:18
Right, right.
David Scheuer 10:19
And I'm like, wait, I thought at the time it was
Edward Collins 10:21
Retail arbitrage.
David Scheuer 10:22
Yeah, at the time, I thought that all the products on Amazon was simply just sold by Amazon. I didn't know that, you know, that third party sellers was selling it and I'm like, hold on. And then I started researching how to sell on Amazon. I came across private label, which is what I what I what I did.
Edward Collins 10:39
Okay.
David Scheuer 10:39
And yeah, I just went down the YouTube rabbit hole. I spent probably like, five, six months just obsessing over this business. I listened to every podcast joined every Facebook group. You know, I, I practically watch every every video on the subject itself. And then I went ahead and launched my first product.
Edward Collins 10:59
And you were probably a massive success, right?
David Scheuer 11:04
Yeah, so first product completely failed.
Edward Collins 11:06
Most, most Amazon sellers do. Yeah. I mean, it's not unique to you.
David Scheuer 11:10
Yeah, I was doing this, you know, mostly all by myself. So I was just kind of guessing the first product didn't do so well.
Edward Collins 11:19
What was the first product?
David Scheuer 11:20
It was a diaper caddy.
Edward Collins 11:22
Okay.
David Scheuer 11:23
So the reason why it didn't work was I mean, now looking back, I'm like, obviously, it didn't work. I was like selling the same thing as somebody else. I was trying to undercut him on price. You don't want to do that. And I also like went crazy and about 1000 pieces in the very beginning, just so you can get them for cheaper. Also something that you don't want to do. You want to test first. So I learned, you know, so it technically, I didn't lose on that expensive lesson.
Edward Collins 11:48
Yeah, there's no such thing as failure unless you actually quit.
David Scheuer 11:50
Yes. So but then I got the data from that. I'm like, Okay, I understand now why this didn't work. And then I launched the second. And that one did well, and then I'm like, Okay, I figured out what data points to look for on a particular product.
Edward Collins 12:06
Okay.
David Scheuer 12:06
And then I then I did a second one, a third, a fourth, a fifth of six. And then I'm like, okay, out of every product that I launched, like 80% of them have worked. So I have a formula now.
Edward Collins 12:16
Okay.
David Scheuer 12:17
So then, you know, and that formula is what I give out to everybody that joins my program. It's just, it's not things that I just saw online, and I'm like, I'm gonna copy it and make it my own. It's things that I personally tried over and over and over again, and that I know, work if you follow.
Edward Collins 12:36
I, that's one of the things I truly love about what you're doing.
David Scheuer 12:41
Yeah, yes.
Edward Collins 12:42
We all get the opportunity to, especially if you're in Miami to meet online gurus.
David Scheuer 12:47
Yeah.
Edward Collins 12:50
And it's amazing that they'll they'll sit back and they'll tell you, I'll do it this way. Do it this way. And then if you ask them, well, is that how you do it? Well, I really haven't done it yet.
David Scheuer 12:58
Yeah.
Edward Collins 12:59
And that happens all the time.
David Scheuer 13:00
Yeah.
Edward Collins 13:01
But what you're doing is you're saying, Okay, listen, I've been through it. Yeah, I, I fell on my face a few times.
David Scheuer 13:07
Yeah.
Edward Collins 13:08
Broke my nose a couple times falling down. But at the end of the day, I got back up, and this is what helped me get there. And you you help your students to literally get there.
David Scheuer 13:16
Yeah, yeah.
Edward Collins 13:17
I looked at some of the testimonials you have. I mean, there's there's a lot of people who who truly love you.
David Scheuer 13:22
Oh, yeah. Thank you. Thank you.
Edward Collins 13:25
When you're looking at at that life changing opportunity, like so, you went from from doing and you're still doing now, and I'm not discounting that. But you're you've now shifted to add in guidance and coaching for others. What, what made you think about doing that, like, what drove you to do that? Because not everyone's cut out to be a coach?
David Scheuer 13:46
Yeah. Great question. So when I was back to the Facebook group time, right, I would see people just post like, I'm launching this product that's not selling. And I'm like, man, if you if I would have just gave you some advice before you did it, you would have saved so much money. Or I seen people like I joined this guy's digital course and I am lost so much money from it. And then I'm like, if these guys are out here selling their stuff, and they've never actually really sold on Amazon, because obviously they wouldn't be really recommending these things if they actually were doing it themselves. So I was like, it's obvious that they're not doing selling on Amazon right now. Right? Um, so what pushed me was I wanted number one, people reached out to me to do it from my personal results. And then I saw a gap because most of the time when I started it was all digital courses. It was just videos, videos, videos, videos, and I'm like, Well, you're not really going to help anybody just buy videos. Amazon is something that it's always changing, and it's got so many little things. So Amazon has a lot of terms of service. If you break they suspend your account.
Edward Collins 14:53
Yeah.
David Scheuer 14:54
So I was like, I'm going to start a coaching program.
Edward Collins 14:56
Right.
David Scheuer 14:57
Where you are actually meeting with me.
Edward Collins 14:59
No longer pass if it's an active engaged.
David Scheuer 15:01
It's an active engagement you're you know, you're meeting with the person and you're like, you know, you have someone like looking over your shoulder. In the beginning, it was like completely me just coaching persons one on one. Obviously, as we scaled, those people that I started in the I helped in the very beginning, have actually did really well. And they've actually become my own coaches now, right that they teach what I my formula. So that's what drew me was like, I wanted to help people get started in the right way, just because I saw all those bad stories like, oh, I spent all my life savings. Because I'm like, I'm trying to sell a neck pillow, for example. I'm like, Man, that's like, the most competitive product, actually, you know, and I just, and it's honestly at the same time, I am an entrepreneur, and it was just an opportunity to have another source of income as well.
Edward Collins 15:49
Okay.
David Scheuer 15:49
So like, why not? You know, I already if I'm gonna help people with the knowledge that I have, and also create another business.
Edward Collins 15:56
When you got into the advice business?
David Scheuer 15:58
Yes. Yeah.
Edward Collins 15:59
Would you say that was an easy transition for you? Or were there also roadblocks there? Yeah, yes. With the Amazon for the very, the same in coaching?
David Scheuer 16:09
Um, you know, what? People will say, like, I wasn't natural at teaching. I don't know, some a Yeah. So I that one was not that hard. For me to, yes, In the beginning, I had to just structure the program in a way that it was easy for somebody to come in and follow exactly what I'm what I did. So like, coming up with a curriculum for the program was a bit hard. But again, going back to the time where bartending I'm good with dealing with people.
Edward Collins 16:42
Right, right.
David Scheuer 16:42
So there you go. I think that helped also with coaching, right? I know how to, you know, hey, so tell me like what's going on? Like, I'm here to answer any questions. And a lot of people that do join the program, they're like, Yeah, you're so approachable. And so maybe this
Edward Collins 16:56
Key ingredient ability to connect with those that you're serving? Yeah, quite literally, whether it was at a club or
David Scheuer 17:06
Within the service industry still. Yeah, exactly. Providing a service.
Edward Collins 17:11
When you look at at where you've come and relatively speaking a pretty short period of time, what would you say? Were the major catalysts for you achieving different milestones of success so far?
David Scheuer 17:23
Um,
Edward Collins 17:25
Could you point to like, any particular guidance that you receive from others and a mentorship?
David Scheuer 17:30
Yes. Okay. Great question. So when I was first starting this, and yeah, you guys, actually, I'll give him credit. You guys actually just had him here? Josue? Oh, he's the one that actually
Edward Collins 17:41
Josue Pena?
David Scheuer 17:41
Yes, correct. Josue Pena. The time when I was starting, there was other people that were doing like the Amazon thing, right? I wasn't the only one. And then I was like, Man, I just don't know. Like, I just like, there's so many people already doing this. And he gave me this word of advice. He was like, Hey, man, like the there are so many people in the world, and that people are going to simply join your program just because how you explain it, how they can connect with you. Right? So that's one piece of advice. If you're thinking about starting anything, don't focus on all the other people that are doing it. People are going to choose you based on you. I agree with that. Yeah.
Edward Collins 18:16
When I sit down, I talk with business owners who are always concerned about competition.
David Scheuer 18:18
Yeah.
Edward Collins 18:19
I say, Have you ever been to a grocery store? Have you ever been to the bread aisle? You see all the different types of bread there?
David Scheuer 18:29
Yeah.
Edward Collins 18:29
And the reason for that is because some people are gonna like this brand.
David Scheuer 18:32
Yeah, yeah.
Edward Collins 18:33
And it's all bread. It's all branded. The packaging may be a little bit different. Maybe there's a little bit different flavor into the bread.
David Scheuer 18:39
Yes.
Edward Collins 18:40
Having variety doesn't mean that it's competition. It just means it's variety.
David Scheuer 18:46
Yes.
Edward Collins 18:46
There are a variety of other coaches out there that teach people how to do things on your on Amazon, you have your own flavor, your packaging to us, and people are going to resonate when you're authentic. And no matter what business you're in, if you you come to it from that perspective. There is no competition.
David Scheuer 19:03
Yeah, yes. Yeah. So that was I would say, the best piece of advice I got. So then I was I stopped focusing and I just did my thing. You know, people, it's true. People were like, reaching out. And when I started onboarding people, myself, I would ask him, like, hey, so like, obviously, there's other programs like why did you choose me? Like yeah, man, you just seemed like an approachable person. And like, you know, I love the way how you explain things, you know, on my training video on like, how I explained my own personal process, my blueprint, and they just connect with that, and that's, you know, what's really worked.
Edward Collins 19:37
When you look at at that journey, then like, what were the milestones that you were shooting for? Did you did you know them ahead of time? Did you put goals and objectives in place? Like what is thet like?
David Scheuer 19:47
Yes, I'm with, would you say with my Amazon business, coach, okay, so with my Amazon business, I told myself, okay, you're gonna launch the beginning, obviously, it was limited on capital. So I was like, Okay, I'm gonna launch one product every month no matter what I do.
Edward Collins 20:01
Okay.
David Scheuer 20:03
As you scale and you start bringing money in for your business, I didn't touch that money, I just, that's why I kept my if you're going to start Amazon, and you have if you're using it to replace your income, don't leave your nine to five because that money that comes in from your Amazon business you I always recommend to reinvest it, right. So I went from one product a month to then two a month, and then three and not, you know, now my goal is okay, I want to launch five a month. And that's you build that snowball effect, right?
Edward Collins 20:34
And you're launching a private label?
David Scheuer 20:36
Private level, correct. So I literally explain what private label is, is you're finding a niche on Amazon with tools that show you how much money that niche is making. And all you're doing is you're going to a supplier, either in China or India, communicating with them and you're manufacturing your own brand of that particular niche that you found on Amazon.
Edward Collins 20:57
Okay. Can you give me an example?
David Scheuer 20:59
Yeah. So for example, I would say, like, again, like a neck pillow, you find a niche , don't launch like pillows. But again, there's a tool that tells you okay, the average seller on Amazon selling neck pillows, let's say is doing 100 grand a month.
Edward Collins 21:18
Okay?
David Scheuer 21:18
They are it's it's pretty popular product.
Edward Collins 21:21
That's revenue?
David Scheuer 21:22
Yeah. Gross revenue, average profit margin on an private label products about 30%.
Edward Collins 21:26
Okay, okay.
David Scheuer 21:27
So that average seller on page one is doing that. So that the key here is you want to see what's selling on that and then find a way to add value, like you said, there's a bunch of different breads.
Edward Collins 21:38
Exactly.
David Scheuer 21:39
Right. But you don't want to sell the exact same bread that someone's selling, because you're not really giving them a reason, more history with the customer. So for example, with your neck pillow, you can add, I don't know a bundle, you sell it with an eye mask or earplugs. Now you're that way you're adding value. So when people see your listing on Amazon, they're purchasing from you, instead of the competition.
Edward Collins 21:57
Well, that makes it an offer that makes it easier from being a product to becoming
David Scheuer 22:01
Correct, you're you're adding more value than what's already on Amazon. So then you're coming up with that, and then you just go into the supplier, you're buying directly from the factory in China. So you're getting a fluff, super fraction of the cost.
Edward Collins 22:13
Okay.
David Scheuer 22:13
And then you're slapping your own brand on it with say yours comes with the I cover and earplugs and then you're putting those on Amazon. And then Amazon is handling all of the fulfillment for you as well. They're, you know, they're storing your products at their warehouse, shipping them to the customer and they're handling all the returns. So again, super passive,
Edward Collins 22:31
And that's referred to as FBA?
David Scheuer 22:33
FBA fulfilled by Amazon.
Edward Collins 22:35
And when you're looking at that from a from, again, you are the one who's doing it, you're learning from all these other resources. Now you've gathered that knowledge, and you're transitioning into teaching others. So what were the things goals and objectives you had as a coach?
David Scheuer 22:52
As a coach? All right, perfect. I'm in the very beginning the first year, which wasn't doing COVID. Right, I started 2019 COVID were really things blew up. So again, it was kind of perfect timing.
Edward Collins 23:06
Everyone was at home.
David Scheuer 23:07
Yes, exactly. Exactly, exactly. So it started off like, Okay, I'm just gonna do, maybe, you know, four new students a month, right? Because I was just doing I wasn't doing that much marketing. In the beginning, I was just doing Facebook groups, kind of like word of mouth, Facebook groups, just posting my results, people would reach out. So I started with one person and two people and three. And then the goal was okay. Last month, I did four, right. This month, I'm gonna spend a little more on marketing, you know, started doing Facebook ads and stuff, okay, and then seeing the ROI on that. And then I'm okay, so this month, I'm gonna do 10 and all that. But again, slowly, I never went really too crazy in the beginning, because I wanted to not just sell a program, people just sell it. I wanted to see results. I wanted to see people succeed first. And I'm like, Okay, I'm not going to scale too much until I have a lot of testimonials. And my formula is 100% proven right? If people come in, they're seeing they're seeing success. So I went from 10. And then now that I had built the team, also, because it does require a lot of help a lot of one on one help.
Edward Collins 24:22
Well, when when you transition from being a solopreneur to becoming an actual business owner.
David Scheuer 24:26
Yeah.
Edward Collins 24:27
Having more hands and feet.
David Scheuer 24:28
Yes. Yeah.
Edward Collins 24:29
Because I talk typically about four aspects of leverage. The first aspect is labor. So with the transition, a lot of individuals start off in that employee realm, and then they transition to becoming that that solopreneur, the small business owner who's really just themselves, yeah, you end up just owning a job. It really is.
David Scheuer 24:49
Correct.
Edward Collins 24:50
But to make that transition, typically, you're engaged in at least one of the four aspects of leverage. Leveraging labor which is other people's hands and feet.
David Scheuer 24:58
Yes.
Edward Collins 24:59
Leveraging code, which would be technology and employing that to scale yourself, leveraging capital or other people's money, and ultimately leveraging audience. So you made the transition from being that solopreneur, who was just doing all wearing every every however, yes. Then to then say, Okay, I need I need humans to help me.
David Scheuer 25:21
Yeah.
Edward Collins 25:22
You added to your team, how did that go? Like tell me about that.
David Scheuer 25:25
Yeah, so like you said, I was doing everything in the very beginning, I was doing the marketing, I was doing the sales, I was doing the coaching, you know, and coming up with the program myself, the first thing I outsourced was the coaching side.
Edward Collins 25:38
Okay.
David Scheuer 25:38
Then came sales. I started, you know, having a sales team, as more calls would come in now, you only have so many hours during the day.
Edward Collins 25:46
Yeah.
David Scheuer 25:46
You know, that's it, then that's the next thing I outsource was. So first came, you know, the people that were training.
Edward Collins 25:52
Okay, how did you make that decision? Because I know that a lot of business owners are trying to figure that out.
David Scheuer 25:56
Yeah.
Edward Collins 25:57
Where do they outsource first to whether it's outsource or insource, but to others or to other things like technology? How did you make the decision that it was going to be the coaching first before sales?
David Scheuer 26:07
It came organically. Yeah. So obviously, as you're growing, I think it just makes sense for you to spend most of or outsource the last thing is the stuff that actually makes the money which is the sales, right, and the marketing. The coaching, I was very confident on the people that I was given because they were the went through my program, they were selling themselves. So okay, obviously, in the beginning, I was watching over their cord like their shoulder the whole time.
Edward Collins 26:36
Yeah, I get it.
David Scheuer 26:38
So um, but you know, obviously, they go through extensive training, and I test them myself, right to make sure that they're teaching every class correctly. But once that's done perfect than just kind of, they're just kind of repeating themselves over and over again, so. So that was the first thing that I kind of stepped away from, and then obviously, like, came to sales. Marketing, I'm still doing myself all the videos, you see myself, but again, I'm not editing them.
Edward Collins 26:44
Right, right.
David Scheuer 26:50
People that do it. For me, that was actually one of the first things I also did outsource was just the editing side of the videos and stuff. But again, in the beginning, I was doing everything myself like everything.
Edward Collins 27:16
Well, now you're you're you're essentially your own brand.
David Scheuer 27:19
Yes.
Edward Collins 27:19
Because I know that there's there's some dichotomy within gurus within the industry with regard to marketing. Some people say you need to focus more on building the business's brand. Some people say no, you need to build the individual brand.
David Scheuer 27:32
Yeah.
Edward Collins 27:32
I actually come down on the on the I think it's a hybrid, I think you'd have to build the business brand, but at the same time you have the human brand to.
David Scheuer 27:38
Yes, yeah.
Edward Collins 27:39
What are your thoughts?
David Scheuer 27:42
I did a personal brand Econ Dave. My program is called the AMZ Academy. And I have it in Spanish Academia Miseta. So those are the two business brands. But the main brand that brings in leads is me.
Edward Collins 27:57
Right?
David Scheuer 27:57
So I am the personal brand. Especially, I think, with coaching and learning something new people do want a personal touch, right? Like, hey, I'm gonna learn from this person, rather than like this company, right? Because then I tell my personal story with my business. And so I think it all depends what business you are running. But I think with Amazon, what has worked has been a personal brand.
Edward Collins 28:21
Okay. And when you're looking at the coaching, obviously, even though you have other people helping and facilitate the coaching process for you, it's still being marketed under your brand.
David Scheuer 28:32
Correct. They are, again, they are teaching my formula.
Edward Collins 28:35
Okay.
David Scheuer 28:35
So it's people that went and did the program in the very beginning. And they're successful with it, because they follow my, you know, and again, I test them and all that. So again, everybody that does join does not mean that they don't have access to me that so you're still you're still in every 1,000%.
Edward Collins 28:52
Okay. I do see that sometimes to where the coach will go through this process where they'll build it, then they get all the coaches involved, and then they're really not.
David Scheuer 28:59
No, no, I am, I'm still I'm still involved with my students. If they have direct access to ask me any questions. You know, I don't want to be like, hey, yeah, join Econ Dave, and they you don't see me at all? No, not at all. Not at all.
Edward Collins 29:00
When you look at at the business itself, what would you say has been the most challenging thing you've been through so far?
David Scheuer 29:20
The most challenging thing would have to be coming up with the team.
Edward Collins 29:27
Oh, okay.
David Scheuer 29:28
Yes. Building, the team has to have been the hardest thing I have done because I'm very picky. It's not just about them being able to deliver the information. It's just about also them having a good personality that people like, right, you know, people that someone that people want to learn from,
Edward Collins 29:47
Yeah.
David Scheuer 29:48
People are not robots, people, like you know, and I have surveys for my students that like, Hey, what did you think of people you learn from, you know, and so that was probably the hardest part.
Edward Collins 29:59
I had a conversation to another business owner on this exact same topic.
David Scheuer 30:02
Yeah.
Edward Collins 30:02
Maybe like two or three weeks ago, we're talking about the concept of culture and in a business enterprise, and how do you make sure that you don't corrupt the culture with the wrong hire?
David Scheuer 30:12
Yes, that is so true. Yeah, it's actually, it happened to me, we had to, you know, hire someone, and they just didn't, they just brought worse energy, and then, you know, just problems inside the company. So it's, yeah, it's it's very true what you said it's the culture inside and, and when you bring something, someone new in how they're going to behave, because you care, everybody behaving and honestly, I've, the team that I build, I'm so proud of them. Because they, not only do they have they're great people, kind people, but they take initiative on like making it better, like they thought they could take ownership as well as with the business like the owner themselves.
Edward Collins 30:56
Well, one of the things I have to say, though, and again, I have not seen your enterprise up close and personal. But for that to happen, you as a business owner have to create the atmosphere for that to happen.
David Scheuer 31:08
Yes.
Edward Collins 31:08
So no matter how good the cool of employees are, if the owner doesn't say, Hey, listen, my hands are off. You own this.
David Scheuer 31:18
Yeah.
Edward Collins 31:19
If you can figure out a better way to do it. I'm, I'm behind you. 100%.
David Scheuer 31:23
Yes. And I do have is we have this meetings every week. And I tell them, hey, if you guys think of a way that we can make this easier for the student to come in a let me know, I'm, you know, I'm not going to shut your idea down, because you're more they're more engaged with the students now. And they have new ideas every week. And I think it's do this do this. So again, constantly evolving. You know, even with technology, we're integrating artificial intelligence. Oh, Amazon. Yeah.
Edward Collins 31:50
Chat GPT. Right. Yeah, sure.
David Scheuer 31:53
Yeah, and not only that, you know, I also have a software for Amazon. So they give ideas on what I should add to the software that my students use.
Edward Collins 32:01
Okay.
David Scheuer 32:03
So so yeah, and it's it's, it's I'm very, I'm very lucky to have the team that I have,
Edward Collins 32:09
Looking, looking at at just the the things that I see having the most impact on business success. The right team.
David Scheuer 32:17
Yes.
Edward Collins 32:18
Toward, if not at the top of the list.
David Scheuer 32:20
Yes.
Edward Collins 32:21
Very close to the top of the list. Because, again, your team is, is what gives you the ability to scale yourself. Because you've started to make that transition already. You're you're not working as much in the business as you're working on the business. And you're engaging more in marketing and getting the name recognition out there.
David Scheuer 32:40
Yes.
Edward Collins 32:40
When you look at what's on the horizon for you, like what what do you think the next two to three years is going to be focused on?
David Scheuer 32:50
So I want to be known as, I would say, owning the biggest e commerce education company, not only in the US, but why not just Amazon, I want to start doing Amazon, not just private label, but I do want to integrate also wholesale, drop shipping. So if anyone joins my program, they can learn all different business models that you can run on Amazon.
Edward Collins 33:16
Wonderful.
David Scheuer 33:17
Yeah, so just building an E commerce Academy. That's definitely
Edward Collins 33:23
That's a lofty goal, though. That's that's a pretty big, yes. Big project to tackle.
David Scheuer 33:28
Yeah.
Edward Collins 33:28
But if you if you had the energy for it, I mean, that could lead to major milestones for you.
David Scheuer 33:35
Yeah.
Edward Collins 33:35
Because I think what was the read somewhere? Some some somewhere recently, I think that the the online education environment is a trillion dollar business in the making.
David Scheuer 33:44
Yeah.
Edward Collins 33:45
So if you can get involved in teaching people skills that transform lives. You can do amazing things.
David Scheuer 33:51
Yeah, yeah.
Edward Collins 33:52
When you look at at your situation, because I again, I did a little bit of internet stalking. I took a look at some of your I think it was Instagram, if I remember correctly, that I was on. And you do almost like this Q&A type of environment.
David Scheuer 34:07
Yes, yeah.
Edward Collins 34:08
And I remember one of the Q&A days that was asked of you is like structuring the business from like, like an LLC stand, etc. And you mentioned I agree, I'm gonna start off by saying I agree wholeheartedly with what you said. But you started off saying, you definitely want to have structure. Can you tell me a little bit more about your perspective on that and how you learned about that?
David Scheuer 34:29
Okay. Um, so with Amazon, as far as you can start it without having an LLC.
Edward Collins 34:36
Correct.
David Scheuer 34:37
You can, you can, you can just create it with your personal information. And if you just want to start getting your feet wet, you can do that. But obviously, it's recommended to actually have an LLC you can expense things to the business liability, you are selling products under your own brand. And you know, there are some liability that somebody gets hurt, that can only come after what the business owns and not your personal assets. So, again, there is that. So I would say if you're looking to start selling on Amazon, you can again, create it with your personal information, but look into creating an LLC.
Edward Collins 35:09
Yeah, I'm right there with you. I think that when when you're talking about any business, whether it's an Amazon business or a local cupcake shop doesn't matter. They're there are so many benefits that come with formal structure, and almost an infinite amount of negatives that come without it.
David Scheuer 35:27
Yeah.
Edward Collins 35:28
If you don't have it, you're exposing yourself to the entirety of liability.
David Scheuer 35:32
Yeah.
Edward Collins 35:32
It also works out. And I don't know if you know this or not, but when it comes to businesses, the vast majority of businesses in the United States are have no formal structure at all their sole proprietorships.
David Scheuer 35:42
Yeah.
Edward Collins 35:43
And it may not surprise you, but that's the category of businesses that pay the most taxes.
David Scheuer 35:49
Yeah.
Edward Collins 35:50
So and you know, this a little bit about me, I like I'm always focused on figuring out how, how business owners can keep more of every single dollar that they're making. Because at the end of the day, I wholeheartedly believe that you, as the business owner, are the best steward of those dollars, you can put them to work the best within your own family, within your own constituents, meaning your employees, your customers, your students, you can put them best to work within your own community and the causes you care about. I just don't like the government at all, pretty much. So when you're looking at your financial situation, like what are you doing as a business owner to keep more of every dollar? And once you keep it? What do you do with it?
David Scheuer 36:29
Okay. Well, yeah, great question. So it's actually funny that you mentioned that. So last year, right? Was I was on Build Mode, hustle, hustle, focus on the business, focus on the businesses create revenue. You know, it was a really that last year was like a huge milestone for my business. Now, this year, I'm now seeing how much I'm getting taxed. I did, I didn't have time to focus on one, I don't try to just focus on one thing, and that I'm good at that's bringing money to the business, which was just marketing, sales, all building the team, blah, blah, blah, right? I didn't have time to like, okay, how can I save on taxes? I just didn't, which I'm paying the price for? Yeah, it's fine. But you know, it's, it's expensive tuition. But this year, like, again, I have some more time, now I am looking into captive insurance. So and also, I'm going to start now putting an investor hat on to something completely different, right? Because in the beginning, you're just hustle, and I'm good at that. Just Grandma, Grandma Grandma. But as you put in this investor hat that's completely different train of thought it's, you know, you have to learn about a business that you might be new that you're going to invest on so.
Edward Collins 37:42
You know, when you look at the qualities of of taxpayers, and this is, so I'll give you a statistic, I don't know if you know this, if you look at the Globe, and on average, no matter where you're situated in the world, tax rates, relatively speaking, per type of taxpayer are almost the same.
David Scheuer 38:01
Yeah. Yeah.
Edward Collins 38:01
So if you're an employee in the United States, as a W two worker, on average, you're going to pay somewhere around 40% of your taxes of your income towards taxes. If you are a solopreneur, or a small business owner, most people think that the small business owner category pays less but reality on average, they have to actually pay up to 60% in taxes based on the income that they generate. And that's mainly because they have no, they don't leverage that what the tax code says you can do. And again, this applies regardless of the jurisdiction. And there are some jurisdictions with no tax. Those are beautiful places. I was actually just in Dubai over the holidays. I was like too, Yeah, but when you look at at the transition, if you go from small business owner to actually a real business owner, who is taking advantage of structure and leveraging labor and technology, etc, you start to see that come down to about 20%. So you're still paying taxes, huge, huge savings. When you get to that point in your life in your career, that you've actually transitioned to being a true investor, someone who's investing in businesses investing in real estate investing and other traditional assets. That environment has the potential of paying 0% in taxes. That's a beautiful thing.
David Scheuer 38:41
Yeah.
Edward Collins 38:42
When you look at your transition, we're looking to make that transition to investor what what do you think the next steps are for you to do that?
David Scheuer 39:28
Yeah, real estate 100% this year? We're looking into I own I wanted to properties already here in Miami.
Edward Collins 39:35
Okay.
David Scheuer 39:36
But I'm looking into multi multi homeless, yeah multifamily. So I'm triplex investments and some and some real estate developments I have a developer friends who I'm looking into putting some money down for some friends for so so mostly real estate.
Edward Collins 39:56
Excellent.
David Scheuer 39:56
Yeah, I try not to do too many different things is that whenever I invest in something I don't blindly invest in something, I have to study it. And you know. And so again, I used to have a real estate license, so I have an idea. But again, now that I'm back, it's a completely different market for what I was doing. I wish I had the money I have now back then I've had my own.
Edward Collins 40:23
One of the Guru's and investments of pretty much of all time is Warren Buffett.
David Scheuer 40:29
Yeah.
Edward Collins 40:30
Regardless, if you love him or hate him, some of the nuggets of wisdom he shares are just truly nuggets of wisdom.
David Scheuer 40:35
Yeah.
Edward Collins 40:36
And he talks about the concept of if you're going to be an investor, invest in what you know.
David Scheuer 40:40
Yeah.
Edward Collins 40:40
Don't try to invest in stuff you don't know you could potentially do well, yeah. But that's usually by x.
David Scheuer 40:46
On average, you're not yeah.
Edward Collins 40:48
When you look at at at everything you've been through so far, you've had some struggles, you've definitely had triumphs. What would you say is been the most important lesson you've learned?
David Scheuer 41:01
Most important lesson to learn from business? To be honest, I mean, that's a sound like, cliche here, but just when I was starting my Amazon business, not coaching or anything like that, whatever people were like, oh, you know, you're selling baby products, like, you're gonna have babies, like, what are you doing? You know, they were like, they were just kind of shutting me down. You know, I started with that niche. It was just what was profitable for me. And if I wouldn't, like, listen to me, like, yeah, what I'm doing is stupid. Like, what am I doing? You know, like, my first product didn't work, like, of course, like, or I would have thought about because at the time, even at the time, they were like, Oh, it's too late to get started on Amazon. It's too competitive, like those negative negative people that you see online, like, there's tons of them, don't listen, you know, I would have been like, Oh, you're right. It's my first product failed. I'm not doing it, I probably would still be a bartender.
Edward Collins 41:50
Oh, yeah.
David Scheuer 41:50
I probably would still be on that same path. So I think the best piece of advice I would could give to everyone that's looking starting a business, just go ahead and try it. And if you don't, the thing is, if it doesn't work, you're not really losing. You're just got more experience now. Right. So go ahead, start your business. I think that's the best thing I you know, I could advise somebody, just go ahead and try it.
Edward Collins 42:17
I love it. Yeah. What am I good friends? Bart Miller, he has a phrase that I'm gonna butcher it. So I apologize in advance bar, but he said something along the lines that winners lose, or winners fail more than losers do?
David Scheuer 42:32
Yes. Yeah.
Edward Collins 42:34
Right. And, and that that is something that I think a lot of business owners just, they need to hear more of that. Yes, it is okay to fail. It is. And the American school system is horrible at teaching this because they say both fail, don't fail. Don't think that, in fact, failure is a part of learning.
David Scheuer 42:50
Yeah.
Edward Collins 42:51
And when you go through the process, the struggle of Oh, my goodness, I just, I'm down to $3,000. In my bank account, my payroll is 10,000. Like, how am I going to do those types of struggles that you try to navigate through? They it's like sharpening the saw sort of speed, because it's that rough experience that you go through that can make major milestones?
David Scheuer 43:12
Yeah, it's 100%. I mean, are constantly failing right now, even just scaling the business? I try this marketing. You know, Ave spend 20,000 30,000 on that it doesn't work.
Edward Collins 43:23
Yeah.
David Scheuer 43:24
But I learned from that, right? Do you get the data from that? Or is it like nine out of 10? businesses fail? So you have to just start 10, one of them's gonna change your life.
Edward Collins 43:30
Exactly.
David Scheuer 43:31
You're in? What is it? The saying, you're an idiot until you're successful? And then everybody else that was saying, like, Hey, you're starting baby, right? They're like, Wow, I'm so proud of you. How did you do it?
Edward Collins 43:40
Yeah, you're an overnight success for 20 years. What are the things I'd like to do is every time I bring a guest on this show, is I like to go through a thought exercise.
David Scheuer 43:51
Yeah.
Edward Collins 43:51
If you wouldn't mind, Dave, I'd like to take you on that.
David Scheuer 43:53
All right, let's do it.
Edward Collins 43:54
I want you to imagine for a moment that you have the ability to go back in time to meet a younger version of Dave.
David Scheuer 44:02
Okay.
Edward Collins 44:02
And you get to share with him one piece of advice nugget of wisdom, whatever it is. What I'd like to know is what version do you go back to what age were you what was going on in your life at that moment? And what is it that you share?
David Scheuer 44:20
I would say believe in you and look into online. And then oh my god, if I would have known I mean
Edward Collins 44:33
15 when you first started working right?
David Scheuer 44:35
Yeah, that would be that would be great. I just didn't know that. You could you know that you could really you can. I mean everyone that's listening to this. Not you not even just Amazon like you can make so much money online from just coming up whatever you're passionate about, right? I mean, when I was a little younger, I mean, there wasn't that much. Internet was still like, just like social media. It was just starting but now you have it access to, you know, so I would say my advice is look into my business. I was just mostly focused on like, Okay, I'm gonna work for a company and you know, and to scale up the the, you know, the corporate ladder, and you're only limited on that. Right. So again, I would say, you know, I've always wanted to start my business, but I would say look into online businesses. Okay, yeah.
Edward Collins 45:26
I like it. But there's a second portion to this, this exercise. I'd like you to imagine now for a moment that a future version of Dave has come back to visit with us in this moment.
David Scheuer 45:38
Oh, wow.
Edward Collins 45:39
What does he share with you?
David Scheuer 45:44
I would say pick the right team, I would guess maybe
Edward Collins 45:53
Yeah. Talking about figuring out a way to find right people.
David Scheuer 45:56
Yeah, that's what I'm working on right now. Huge nuggets who's gonna be good at you know, you know, future there's gonna be better at time management,
Edward Collins 46:05
Because you're gonna put in the work to make a bet.
David Scheuer 46:07
Yes, exactly. Yeah. I mean, I wish he told me like, Okay, give me the tricks on you know, how to pick because hiring processes, probably also as well, you gotta have the right person in the right, because if I want to take this to, you know, nine figure company, that's when you're like, okay, yeah, you gotta need like, a part of management for each part of the business. And that manager needs to, you know, be really good at also time management themselves and picking a staff because I can't be doing all that. So
Edward Collins 46:38
Every major uplevel.
David Scheuer 46:40
Yes.
Edward Collins 46:40
Going from six figures to seven figures, seven figures to eight figures, eight figures, nine figures. They all take different skill sets.
David Scheuer 46:50
Yes.
Edward Collins 46:51
Different mindsets.
David Scheuer 46:53
Yeah.
Edward Collins 46:53
And when you're trying to figure out the mix, it could involve employees that you don't have now,
David Scheuer 47:00
Yes.
Edward Collins 47:00
Could involve employees that you do have now that they need to uplevel their own skills. So yeah, I think that that that would be some major advice, please. So if he's gonna tell you that you got to share it with me as well.
David Scheuer 47:12
Of course.
Edward Collins 47:13
One of the things I want to make sure that we touch on this, because the younger version of Dave has gotten a nugget of wisdom from you.
David Scheuer 47:20
Yeah.
Edward Collins 47:20
The current version of Dave has gotten another nugget of wisdom from you. I don't want the audience to feel left out. So what nugget of wisdom? Do you want to make sure that we share with the audience? Before we wrap things up today? Like, what's one thing you say? Listen, if you take nothing else from from the time we spent together, take this, okay? And we'll have a difference.
David Scheuer 47:41
So, if you, I would say the biggest piece of advice is just whatever idea that you have in your head, okay, whatever business you want to start, just go out there and get it started. Listen, I come from nothing, okay. And people just my family's from comes from a third world country in Peru. I'm a first generation immigrant to this country. A lot of it didn't have to do with, you know, me, seeing I'm not that my family will tell me this, but it was there on my shoulders, right? Because I am the only male here in the United States, I have the opportunities. So that being said, that pushed me to start this business and all that, right. So that's where the motivation came from. And honestly, I just didn't care what people thought about me trying to start because I started it at a morgue, agency, a store all these different things. So whatever idea you have in your head, right, and I know, you know, if you're listening to anyone listen to this, and like you have an idea for a business. Just go out there, get your feet dirty, get your hands dirty, and start that business. And whatever you're thinking in your head, like, Oh, I'm not I'm not going to start this business. I don't have the right education for it. Well, I don't have I don't have any experience. Just you don't need anybody else gratification to start that business. Right. Everything around I think I'm kind of stealing this from somebody. But everything else that you see around you was created by people with the same brain that you have. Yeah. All right. And you don't need like, oh, I don't I'm not going to start this because I just don't have you know, no one in my family has started that business. I don't have the right connections, blah, blah, blah. But those are just excuses. Just go out there. Do it. Put yourself out there. And you know, and make it happen.
Edward Collins 49:27
Yeah, some people refer to it as build the plane on the way down.
David Scheuer 49:30
Correct. I like that.
Edward Collins 49:34
Jump, just jump get it done.
David Scheuer 49:36
Get it done.
Edward Collins 49:36
Because at the end of that, if you want to talk about motivation, if you're you jumped off the cliff, you're gonna be putting that blame together pretty quickly.
David Scheuer 49:43
Exactly. Yeah.
Edward Collins 49:44
When we look at everything that you've talked about so far, it's been amazing. Thank you, but there's so much more that you could could offer and so much more that you can give. So how how could the audience if they wanted to reach out and connect with you what what's the best way for them to get into your ecosystem, of course.
David Scheuer 50:03
So if you just want to talk to me, just hit me up on Instagram EcomDave, if you want to learn about how to sell on Amazon, my personal blueprint on how I find product sourcing and ranking them, you can just go to ecomdave.com/podcasts. I created a website just for this. So everybody that joins do that will actually get a nice discount. I have actually joined the program.
Edward Collins 50:24
I Love that.
David Scheuer 50:25
Yeah. All right. So ecomdave.com/podcast, that's going to take you to a completely free training video explaining the blueprint that I teach all of my students. And again, if you just want to chat, hit me up on Instagram. I'm right there. I talked to everybody that sends me a DM yeah.
Edward Collins 50:44
I truly appreciate you coming by today, of course and sharing your story. It's been, it's been refreshing to get something so authentic and also so, so impactful to so thank you, thank you, thank you for sharing your message and your story. And I appreciate you. Guys, my name is Edward Collins, you've just watched another episode of entrepreneur leaves. I know, I know for a fact that you've loved it. And that means you're gonna hit the the subscribe button because you want to make sure you're not missing out on content like this. At the very least, you're gonna like this episode, because that serves you too. It just doesn't serve just me. You get to tell the algorithm the type of content you love. So go ahead, let them know so they can show you more information, like the information we shared today, so that you can change your tomorrow. I wish you well on your journey. My name is Edward Collins. Bye for now. Awesome. Thank you so much. Yeah,
David Scheuer 51:34
Yeah, fun. Yeah, that was fun. Yeah, a little
Edward Collins 51:37
Bit of some hiccups here and there with regard to a little bit of construction noise.
David Scheuer 51:42
That's all good.