April 6, 2017 Ep.202 ~ The Mid 7-Figure Mentality and Manufacturing in China ~ Peter Keller

“The strength of a founder can become the weakness of a company.” Peter Keller On today’s show, we are joined by the eCommerce expert and founder of Fringe Sport, Peter Keller. Peter has been engulfed in eCommerce for the past seventeen years. He launched Fringe Sport back in 2010 and has grown it into a mid-seven figure business. This episode was exciting because Peter and I chat about something that I find very interesting, manufacturing and production overseas. Peter has spent a lot of time working with factories in Asia. He shares with us how to find factories that would be great partners, produce excellent products, and also how to spot those factories that treat their employees well. Towards the end of the podcast, Peter shares the difference between the 5, 6, 7 and Mid-7 figure mentalities. It is an excellent podcast with a brilliant business mind and one I highly recommend. The Goldie Locks Principle “You don’t want a factory that is way too small, you don’t want a factory that is way to big, you want a factory that is just right.” Peter Keller 03:06: Peter’s Story 04:54: eCommerce In the Early Days 16:29: How Peter Stayed Afloat When No Income Was Coming In 18:02: Growing a Team Then Scaling the Team Back 19:07: Becoming More Aware as a Leader 20:39: How Well do You Understand Your Own Business Processes? 24:16: Finding the Right Manufacturer in China 31:16: Finding an Ethical Manufacturer in China 39:36: 5-Figure vs. 6- Figure vs. 7-Figure vs. Mid 7-Figure Mentality 5 and 6-Figure's were the side hustle mentality 7-Figure's you really have to start thinking about how to leverage yourself and teaching your employees to do what you do Mid 7-Figure's the mindset becomes much more about leading and managing people “If you get poor quality products, it is your fault for not vetting the factory appropriately, for not communicating with the factory properly.” Peter Keller Honorable Mentions: Boys Life Magazine http://boyslife.org/ Living Direct https://www.livingdirect.com/ The Four Hour Work Week http://fourhourworkweek.com/ Alibaba https://www.alibaba.com EO-Entrepreneurs Organization https://www.eonetwork.org/ Toastmasters https://www.toastmasters.org/ Contact Info: https://www.fringesport.com/ peter@fringesport.com Twitter @petekeller https://twitter.com/peterkeller Subscribe to our podcast on iTunes https://itunes.apple.com/us/podcast/entrepreneur-house-live-in/id1069958541?mt=2