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Mike Welch is the president and CEO of tirebuyer.com which merged with tirescanner.com, a US-based tire retail marketplace, in 2019. In this episode, Mike shares how we went from working at dealerships and small independent repair shops in the UK to founding and operating one of the most successful online tire retailers in the world.
Notes about growing a successful tire e-commerce store:
02:40 - Mike got his start at 15 years old fitting tires at dealerships and small independent repair shops because it was all he knew. He wasn't interested in pursuing post-secondary education. Out of necessity, Mike was led to follow one opportunity after another that led to forming his company blackcircles.com (now owned by Michelin)
03:35 - Mike shares that he's always had the drive to work hard, something that the retail auto industry rewards. It's fascinating that the auto industry is still one of the few that accepts everyone and gives them the chance to make something big for themselves if they put in the work.
05:57 - Speaking about taking opportunities, Mike explains, "The fewer reference points you have for what could go wrong, the more upside potential there is." Mike explains how he got into selling tires after being made redundant by the shop he was working for.
08:33 - Mike explains how he went from having no experience to founding and growing a large e-commerce tire sales/tire fitting website. In the early days, it was all about doing whatever was required to get the job done and see sales come in. Mike recounts teaching himself how to code basic HTML so that he could build a website, i.e., having the willingness to do whatever it takes to succeed.
10:25 - Mike shares the story about finding his mentor, Sir Teddy Lee (The CEO of Tesco). Mentors and those with experience can help grow a business exponentially because they have the wisdom of experience.
Listen to the full episode for even more insights and context from Brian Pasch!
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Thanks, Mike Welch!
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