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$100M Ecommerce Empire Started in Garage?
This is the New Money Talks Newsletter, the newsletter packed with entrepreneurs' personal stories, real estate investing, financial tips, and more!
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In today’s edition, we’re diving into ecommerce story that started from one small garage to turning it into a multi-million dollar company in just a few years.
That's exactly what Nick Swinmurn did with his company, Reverb.
Reverb.com is now one of the leading online marketplaces for musical instruments and gear.
But Nick's journey to success wasn't all sunshine and rainbows. He crossed over many bumps on his road to success.
Nick Swinmurn has always loved music.
As a child, he would spend HOURS in his room, playing his guitar and dreaming of one day becoming a rockstar.
He had been playing music all his life, but as he grew older,
he realized that music was just a hobby and he had never been able to make a living from it.
He was tired of struggling, and he wanted to create a better life for himself and his family.
Nick had always been passionate about guitars.
He loved the way they sounded, the way they felt, and the way they could make people feel.
But he also knew that there was a big market for used guitars.
One day, he was sitting in his garage, looking at his collection of used guitars.
His brain clicked, and he decided to start an ecommerce business selling vintage guitars.
Nick started small.
He would buy guitars from thrift stores and online auctions, and then he would repair and refinish them before selling them to customers.
He worked hard and learned everything he could about ecommerce, from building a website to creating product listings to running advertising campaigns.
At first, Nick's business was slow.
But he kept working and promoting his business.
Eventually, his business started to take off.
He was able to source high-quality guitars at a low cost, and he was able to sell them for a significant profit.
Nick's success was due to a number of factors, including his hard work, dedication, and business acumen.
But he also attributed his success to his unique approach to customer service.
Nick went above and beyond to make sure that his customers were happy.
He personally inspected every guitar before it was shipped, and he offered a 100% satisfaction guarantee.
Nick's commitment to customer service helped him to build a loyal customer base. His customers knew that they could expect to receive a high-quality product and excellent customer service when they bought from him.
Today, Nick's ecommerce business sells a wide variety of musical instruments and accessories.
The company has over 1 million sellers and 20 million unique visitors per month.
Reverb has also expanded to offer a variety of other services, such as instrument insurance and financing.
Nick's success with Reverb is a testament to his passion for music and his business acumen.
He has created a company that has made a major impact on the music industry, and he has helped to make musical instruments more accessible to people all over the world.
Nick's success has allowed him to achieve his dreams of financial freedom and a better life for his family.
But more importantly, it has allowed him to continue doing what he loves sharing his passion for music with others.
Tweet of the day
Not turning on your camera in a online interview, is probably the easiest way to make sure you don't get the job.
What's going on with people?
How would you turn off your camera in real life??!
What are your thoughts on this?
— Ron Shah (@obviceo)
4:13 PM • Oct 26, 2023
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See you on Wednesday :)