The Power of Partnerships in the eCommerce Space with Nick Penev
Release Date: 09/29/2022
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info_outlineAre you ready to grow, scale, and expand your eCommerce business through partnerships? In this episode, Nick Penev delves into partnerships and why it's so important for service providers and businesses in general to have them in order to grow their sales. He stresses out how to look at partnerships and what are the first steps you should follow to make sure you find the right partners. Pay close attention to Nick's advice on how you can expand your business to Europe and everything that entails growing to other Amazon marketplaces. Listen and enjoy!
Nick Penev is the Partnership Manager and webinar host at Hello Tax and Co-Founder of Xtreme Power Brands. He and his partners developed and launched 20+ Private Label Supplement brands across Europe. Nick exited his brands in 2020 and since then he has rebranded XTREME POWER brands into a Partnership as a service agency for ecommerce service providers. He and his team help these companies to grow through partnerships in the ecommerce space. Nickhas done or participated in 100+ webinars and events with partners in the ecommerce space.
Key Highlights:
[00:01 - 07:30] The Power of Partnerships
• Nick shares his story of how he got into ecommerce and how partnerships helped him grow his business
- The partnership manager and webinar host at Hello Tax and founder of Extreme Power Brands
- Launching 20 plus private label supplement brands across Europe
- Creating a service agency for e-commerce service providers
• Why partnerships are important for service providers or businesses in general
[07:31 - 22:00] Tips for Succeeding in Partnership
• Nick's experience selling to multiple markets and connecting service providers with his company
- How Nick started working with other companies in the industry to help them grow their partnerships and services
• How successful partnerships involve taking small steps to build a relationship
• It's important not to make assumptions about what the other party can or cannot do
- Be willing to do something for the other party, and not just take advantage of them
• Nick's advice on how to grow a company in the eCommerce space, and how partnerships can be an important part of this growth
[22:01 - 37:01] How to Expand Your Business
• The key points for starting and expanding a business in the Amazon and e-commerce aggregated space
- Partnering, testing, and evaluating potential partnerships
• Nick's outlook on the opportunities in the Amazon and e-commerce aggregated space
• Expansion into other countries can be difficult, but there are services available to make the process easier
• What you should do if you're looking to expand your business to Europe
- Do the research, test small, and then expand
[37:02 - 44:52] Closing Segment
• Never make assumptions, do the research
• Nick on the rapid-fire questions
Connect with Nick:
Key Quotes:
"You only work from your mistakes, you don't work from actually all the wins that you do." - Nick Penev
"Partnerships is about giving first and then getting big." - Nick Penev
"Don't tell me what we can do with money, tell me what we can do without money." - Nick Penev
Visit Let’s Talk Exits and drop your questions and comments at https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
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