#457 – Retail Arbitrage Isn’t Dead & How Charles Chakkolo Built a Private Label Powerhouse
Can you imagine turning a schoolyard hustle into an 8-figure Amazon empire? Charles Chakkolo did just that, and his journey from selling Coke cans to becoming a private label giant offers invaluable lessons for aspiring entrepreneurs. Join us as we explore the highs and lows of his entrepreneurial path, including a hilarious tale of juggling business opportunities with personal commitments. Charles also shares insights into building a brand in today’s competitive e-commerce landscape, all while emphasizing the power of networking at industry hotspots.
For those with a knack for nostalgia, you’ll love the stories of entrepreneurial beginnings, featuring school days filled with selling Billboard Top 40 albums and the many trials of early retail arbitrage. These experiences didn’t just pad their pockets; they laid the groundwork for understanding the challenges and potential of retail arbitrage today. From dealing with counterfeit goods to early suspensions, the lessons learned have been instrumental in shaping mature business practices that stand the test of time.
Running a family business presents its own set of challenges and rewards, especially in the e-commerce and warehousing sectors. We explore the dynamic of managing operations with family, highlighting the benefits of maintaining control without third-party logistics. Gain insights into strategies for differentiating commodities in a flood of knockoffs, and the significance of first mover advantage. With expert advice, discover the potential of integrating branding and community building into business models. Plus, navigate the complexities of information overload and learn how to strategically consume information to stay ahead in the ever-evolving e-commerce space.
In episode 457 of the AM/PM Podcast, Kevin and Charles discuss:
- 00:00 – Entrepreneur Journey and Amazon Brand Building
- 09:51 – From Coke Cans to Amazon Retail Arbitrage
- 04:44 – Life’s Ups and Downs
- 22:07 – Brothers Build Amazon Business Together
- 30:30 – Competing in the Commodity Market
- 33:47 – Brand Building Outside of Amazon
- 36:08 – Navigating Information Overload in E-Commerce
- 42:26 – Everyone Has an Angle in News
- 49:44 – Charles’ Newsletter Strategy
- 50:40 – Entrepreneurial Success and Wisdom
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Want to absolutely start crushing it on eCommerce and make more money? Follow these steps for helpful resources to get started:
- Get the Ultimate Resource Guide from Kevin King for tools and services that he uses every day to dominate on Amazon!
- New to Selling on Amazon? Freedom Ticket offers the best tips, tricks, and strategies for beginners just starting out! Sign up for Freedom Ticket.
- Trying to Find a New Product? Get the most powerful Amazon product research tool in Black Box, available only at Helium 10! Start researching with Black Box.
- Want to Verify Your Product Idea? Use Xray in our Chrome extension to check how lucrative your next product idea is with over a dozen metrics of data! Download the Helium 10 Chrome Extension.
- The Ultimate Software Tool Suite for Amazon Sellers! Get more Helium 10 tools that can help you optimize your listings and increase sales for a low price! Sign up today!
- Does Amazon Owe YOU Money? Find Out for FREE! If you have been selling for over a year on Amazon, you may be owed money for lost or damaged inventory and not even know it. Get a FREE refund report to see how much you’re owed!
- Check out our other Amazon FBA podcasts including the Serious Sellers Podcast, as well as our Spanish and German versions!
- You can also listen to the AM/PM Podcast on YouTube here!
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