About Our Guest
Eytan Wiener was the Chief Operating Officer and Co-founder of Quantum Networks, an online retail agency for global brands.
Eytan oversaw the company’s expansion from a startup in 2008 to a multi-million dollar company in 2014. His oversight gained the company a 4,566% increase in revenue, a rise deemed unprecedented in the industry, making the INC 500 list three years in a row.
Eytan also co-founded the Prosper Show, the largest and most renowned Amazon Seller Show, in 2016 with key industry leaders James Thomson, a former Amazon executive, Joseph Hansen, founder of leading Amazon agency Buy Box Experts, and Chad Rubin, founder of Skubana.
Both companies were successfully sold to publicly traded companies: Quantum to Advantage Solutions (ADV NASDAQ) in 2020 and Prosper Show to Emerald Expositions (NYSE: EEX ) in 2018.
For more than a decade, Eytan has created an industry-wide awareness of the discrepancies that occur during the lifecycle of inventory sent by sellers to Amazon’s fulfillment centres. Dissatisfied with both his solutions, as well as those of other providers, he utilised GETIDA and discovered that they made the deepest impact in maximising financial recovery for his company. GETIDA’s solution significantly affected his company’s bottom-line profit, thereby increasing the total value of the sale price, contributing to his successful exit.
Eytan led a private investment round in GETIDA in early 2021 and is now the CEO of the company.
About this Episode
Retail Retelling: Learning the Ins and Outs of Amazon Resellers
Resellers on Amazon are a dime a dozen. The business model is simple: Resell a semi-known brand’s product on Amazon for a slim margin. So it’s even more impressive when you learn how our latest guest, Eytan Wiener, and his business partner developed their business, Quantum Networks, to stand out from the crowd.
Using three tactics to differentiate their offering, the duo was able to increase their margin from around 5% to approximately 20%, topping out at around $30 million in revenue before deciding to sell after 12 years of business.
He chats through the complexities of the sale, including his best how-to tips on both creating a reseller business, as well as managing the exit process.
This is Eytan Wiener.
What you will learn in this episode
In this episode we’ll cover everything from:
- Finding your niche as an Amazon reseller
- How to create a differentiator in your business in a saturated market
- The importance of using a business broker
- How to control the narrative with your earn-out
Connect with Eytan Wiener
(4:04) From reselling to adding value. How Eytan and his partner took a basic business model and turned it into a niche solutions-based business.
(10:55) What’s the point? What’s the goal? These are important questions to ask yourself at the outset of every new business initiative.
(22:21) Business brokers and bankers can be an important component to any deal. Simon and Eytan talk through a lot of the complexities of brokers and how to find one that works well with your needs.
(38:19) It’s rare to sell an Amazon reseller, especially at the time when Eytan and his partner were selling. Listen as he discusses the variables that went into determining his final price.
(41:57) Listen to Eytan’s tips to grow an Amazon business. His biggest takeaway: Find a niche and own it.