How to Grow a Business (The Simple Way) - Lowell Rempel @ Dropified Interview

About this video

In this interview, Dan Martell talks with Lowell Rempel of Dropified about his entrepreneurial journey. Rempel explains that Dropified automates the hard parts of selling physical products online: importing products into a store, adjusting pricing, automatically notifying suppliers when an order is placed, white-labelling shipments and adding tracking. He also describes a private label on demand service started about a year and a half earlier, where a seller’s own-branded product such as protein powder is only labelled and shipped after a purchase, which he says arrives in two to three days in the US, delivered through partner companies rather than Dropified’s own facilities. Rempel traces his start to age nine, when he saved $60 for a window-washing kit and says he made about $180 in a day, followed by three soft ice cream stands in Edmonton that helped put him through college, about seven years at Coca-Cola alongside side businesses including hot tub and pool stores, and a decision to go all-in on his own business after his middle daughter was born with half a heart and the family spent months at a children’s hospital. He describes building a large white-label marketing business serving thousands of agencies by his account, spreading himself across 17 companies, then over about a year and a half selling, giving away or shutting most of them down to about four connected companies. He discusses bringing in a CEO for Dropified to add clarity, contracts and KPI accountability, and breaking through self-imposed limits and self-sabotage — rooted partly in parents who were a teacher and an engineer and opposed entrepreneurship — by seeking coaching, feedback from staff, and help instead of doing everything alone.

Key takeaways

• Automate the operational burden of e-commerce — import, pricing, fulfilment notification and tracking — so the seller’s job is mainly marketing
• Use partners who already have facilities for print-on-demand and private label work instead of building costly operations yourself
• Spreading across too many businesses dilutes results; Rempel says he cut 17 companies to about four synergistic ones by selling, giving away or closing the rest
• Bringing in a CEO whose strengths differ from the founder’s can quickly surface ignored basics like contracts, metrics and accountability
• Break through self-imposed revenue and growth caps by asking staff and coaches for honest feedback and being willing to ask for help

Episode details: published December 20, 2021 · 38:57 long. Summary written by Self Growth Videos from the episode itself. Business results and any income figures mentioned are Dan Martell’s own claims, shared for education — they are not typical or guaranteed.

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