Ep 78: Happy Accidents: Finding the Solutions to Problems with Dan Meadors

Today I sat down an interviewed Dan Meadors who has been a friend of mine for close to a decade. Dan is a successful Amazon seller and the co-founder of The Wholesale Formula. Dan is a self-proclaimed “side-hustle guy” and his business journey over the past few years is full of big mistakes but also big wins. Even if you’re not interested in selling on Amazon, Dan’s story is sure to inspire you to look at your problems as opportunities for growth, creative thinking, and opportunity.

Dan started selling with Amazon in 2011 while working full time at a gaming company. After being fired from his job, he had the choice to look for another job or pursue Amazon selling full time. He chose to focus solely on Amazon. Dan ended up getting lucky with one of the products he was selling but as competition for the product grew, Dan came to the realization that other sellers were doing a much better job than he was and what had started out as a lucky break turned into a “catastrophic mess”. Luckily, Dan is a creative thinker and really made the best of some stressful situations by thinking outside of the box and avoiding colossal losses. In our conversation, Dan shared some of the creative solutions he came up with to some of the stressful situations he found himself in and how each mistake ultimately led to opportunity and growth in his business.

Eventually Dan came up with a new approach for selling on Amazon and this approach is what really took his business to the next level and he went from making about 1.8 million per year to almost 7 million per year in sales. Eventually, people started asking him how he did it, and that’s when The Wholesale Formula was born. Now, in addition to selling on Amazon, Dan teaches other people how to be successful in online wholesale. In this episode, Dan also shared some advice for anyone else interested in doing what he does. I hope that as you listen you’ll find some inspiration from Dan’s journey.

In this episode, we'll cover:

-How getting fired led Dan to being a full-time Amazon seller

-Dan’s early ventures with Amazon and the mistakes he made along the way

-How a lucky start turned into a catastrophic mess

-How Dan’s creative problem solving kept him from a colossal loss

-Dan’s new approach and how it brought him to success

-Dan’s strategy to convince brands to work with him and how he went from 1.8 million in sales per year to almost 7 million

-The challenges that came with quick business growth

-How giving up control of some areas paid off (literally)

-Safeguarding your business in the midst of major change

-How Dan and business partner, Dylan, ended up creating The Wholesale Formula

-The launch of The Wholesale Formula

-How Dan’s own business grew and benefited from The Wholesale Formula

-Finding opportunity in the midst of difficulty

-Is there still opportunity in the world of online selling? Dan’s advice for anyone who wants to sell on Amazon

-How to become a real Amazon seller in just six weeks

SHOW NOTES: https://insidethelionsdenpodcast.com/podcast/episode78

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