EP70: $125M in 2 years and 25 FBA deals closed with Jason Lee

Takeaways

Jason transitioned from mechanical engineering to entrepreneurship.
He became a digital nomad after reading 'The 4-Hour Workweek'.
His experience at Empire Flippers was pivotal for his career.
Navigating the Chinese Amazon market presented unique challenges.
The rise of aggregators changed the landscape of online business.
Jason's brokerage firm achieved significant success in a short time.
COVID-19 impacted business operations and market dynamics.
He learned valuable lessons about deal-making and negotiation.
Jason's journey reflects the importance of adaptability in business.
He is now focused on future opportunities in the online business space. Many Chinese sellers rely on translation services due to language barriers.
The Chinese government actively supports Amazon sellers to boost exports.
Success rates for new Amazon sellers are low, with many failing within the first year.
Trust is a significant hurdle in establishing relationships with Chinese sellers.
Due diligence is crucial, but buyers often take the lead in verifying seller claims.
The brokerage model can be challenging due to the need for trust and relationship building.
Investing in offline businesses may present better opportunities than online ventures.
The future of manufacturing may shift away from China due to rising costs and geopolitical risks.
Supply chain disruptions could lead to a reevaluation of sourcing strategies.
The consolidation of businesses in the U.S. may limit opportunities for small business owners.

Chapters

00:00 Introduction to Jason Lee's Journey
03:25 Breaking into the Online Business World
06:07 The Rise of Amazon Selling in China
10:54 Transitioning to Brokerage and Finding Opportunities
13:41 The Emergence of Aggregators in the Market
19:06 Navigating the Challenges of Cross-Cultural Business
24:18 Achieving Success in Business Brokerage
32:05 Market Changes and Future Plans
49:15 The Mainstreaming of Online Income
50:32 The Evolution of Remote Work Culture
51:24 Navigating Job Offers in the Digital Age
52:21 The Role of Automation in Business
53:51 In-Person Connections in a Remote World
55:46 Understanding the Brokerage Process
59:03 The Impact of COVID-19 on Work Dynamics
01:02:29 Transitioning from Amazon to Business Brokerage
01:03:43 The Nuances of Selling on Amazon
01:05:54 Challenges Faced by Chinese Sellers
01:09:16 Navigating International Business Deals
01:12:22 Challenges of Language Barriers in E-commerce
01:13:45 The Journey of Chinese Sellers on Amazon
01:16:24 Success Rates and Challenges for New Sellers
01:18:21 Navigating the Brokerage Business Landscape
01:18:51 The Process of Business Transfer and Trust Issues
01:23:18 Building Trust with Chinese Sellers
01:24:24 Data Scraping and Seller Outreach Strategies
01:27:00 Understanding Seller Revenue and Due Diligence
01:31:56 Insights from an Amazon Employee
01:33:35 Navigating Cultural Fit in Sales
01:34:33 The Challenges of Selling a Brokerage Agency
01:35:39 The Rollercoaster of Deal-Making in Brokerage
01:37:34 Partnership Dynamics in Business
01:41:10 Investing in Small and Medium-Sized Businesses
01:44:15 The Future of E-commerce and Supply Chains
01:46:59 The Implications of China's Demographic Shifts
01:50:50 Opportunities and Risks in Buying Businesses