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Jeremy Chen — Dying Company to Industry-Leading Business

42 minutes

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Key lessons to pivoting out of multiple 'dying' businesses

What happens when your business model no longer produces revenue? How do you know when to call it quits and pivot to something different? These are the questions Jeremy Chen asked in his past businesses before finding a model and product that suited the market the best with his current business, Good Things.

Good Things is now known as Australia's leader in branded products and is trusted by the likes of TikTok, Afterpay and Vegemite. From dying businesses to creating an industry leader, Jeremy reveals his key lessons from the past 14 years. Covering a different approach to recruitment than most, and a 'backward' pathway to finding good suppliers, this episode of The Make It Happen Show is not one to miss, especially for those trying to build their business into a 7- or 8-figure empire.

 

Questions asked in this episode:

  • 2:14 - You made the leap from IT/corporate into building your own business. You're the co-founder of Good Things, Australia's fastest-growing brandable products company. How have you made that happen?
  • 3:05 - You've got a huge range of products that people can put their logos on. Who's your main customer, business or personal?
  • 4:02 - As you were starting Good Things and getting into the brandable products area, did you start with a few products or just one, or was it always a range?
  • 5:51 - When did you start adding other products in there? And how did you start customising them?
  • 7:22 - When did the platform with a range of products come into it? What was that journey?
  • 9:10 - Do you have a couple of tips and tricks to finding and onboarding a really good supplier?
  • 11:30 - How has the business grown over the past 14 years? What were some key milestones?
  • 16:24- How big is the team now? Do you want to run us through a bit of the structure right now?
  • 18:40 - Learning how to manage a team, learning how to delegate, how's that experience been for you?
  • 21:21 - What is your highest and best use at the moment?
  • 25:53 - What are you looking at within digital marketing, and what's working well for you guys?
  • 30:35 - What's on the horizon for Good Things?
  • 33:20 - What are the key elements for your business to continue being a leader in the market?
  • 35:22 - Make It Happen In A Minute
Podcast promo image Jeremy Chen

"We make sure that we're really targeted, really focused on a certain segment. Rather than trying to hit 100,000 consumers or 100,000 businesses, we've painted that picture internally of exactly who we want to target. "

— Jeremy Chen

What you will learn in this episode:

  • What happens when your product is in a dying retail segment
  • The ultimate lesson every entrepreneur needs to learn (why you should say yes to most opportunities, especially as a startup)
  • When it's the right time to change your business model
  • Why you need to start using a 'virtual bench' for recruitment
  • How recruiting is like investing in the stock market
  • How to find the right branding agency for you
  • And more!

8 figure elevation CTA podcast

Want to learn how you too can build a multi-million dollar business just as Jeremy has? Learn from us at The Entourage, Australia's leading trainer and community for business owners, where we can show you how to build a 7 or 8 figure business that works without you. Access the 8-Figure Elevation short course today to learn the exact high level principles, frameworks and strategies we teach our members today.

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Topics: Marketing

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