Norm Farrar, also known by his nickname, “The Beard Guy,” is the Co-founder of the Centurion League, a mastermind group for Amazon-centric private label sellers. He is an entrepreneur, speaker, and e-commerce expert who is passionate about helping business owners create a strong support network and achieve their highest potential.
Norm is also the host of the Lunch with Norm podcast, as well as the President of HONU Worldwide, the Co-founder of AMZ and Beyond, and the CEO of prReach.
Here’s a glimpse of what you’ll learn:
- How Norm Farrar’s mastermind, Centurion League, differs from other Amazon seller groups
- Norm’s thoughts on the increased interest in private label brands and how brand owners are becoming more sophisticated
- Where can sellers find helpful information about growing and selling their businesses?
- How to navigate the future of private label brands and FBA investments
- Norm’s advice for getting your operating procedures and systems in place and deciding the right timeframe for your brand
- What does it mean to build a successful brand on Amazon?
- Norm shares valuable lessons from his mastermind members who have sold their businesses
- How mastermind owners can help their members achieve greater success
In this episode…
Investing in the right operating procedures and systems is very important if you’re hoping to sell your private label business down the road. This is because these factors make brands much more attractive to investors and FBA aggregators looking to invest in profitable businesses.
This is what Norm Farrar and the members of his Centurion League mastermind group have learned from their experiences selling and exiting businesses on Amazon. They have also learned the importance of staying on top of your competitors, diversifying your product lines, and identifying the right time to sell your business. Today, Norm is here to discuss these valuable takeaways and many more.
Norm Farrar, the Co-founder of the Centurion League, joins James Thomson in this episode of the Buy Box Experts podcast to discuss the importance of investing in your operating procedures and systems when preparing for an exit. Together, they talk about the main concerns of current mastermind members, how to make your business more attractive to investors, and the best ways to build a successful brand on Amazon. Stay tuned.
Resources Mentioned in this episode
- Buy Box Experts
- Controlling Your Brand in The Age of Amazon: The Brand Executive’s Playbook For Winning Online by James Thomson and Whitney Gibson
- James Thomson on LinkedIn
- Private Label Legion
- Centurion League
- Norm Farrar on LinkedIn
- Lunch with Norm podcast
- HONU Worldwide
- Tim Jordan on LinkedIn
- AM/PM Podcast
- The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
- The EMyth Business Coaching Program
- Prosper Show
Sponsor for this episode…
Buy Box Experts applies decades of e-commerce experience to successfully manage their clients’ marketplace accounts. The Buy Box account managers specialize in combining an understanding of their clients’ business fundamentals and their in-depth expertise in the Amazon Marketplace.
The team works with marketplace technicians using a system of processes, proprietary software, and extensive channel experience to ensure your Amazon presence captures the opportunity in the marketplace–not only producing greater revenue and profits but also reducing or eliminating your business’ workload.
Buy Box Experts prides itself on being one of the few agencies with an SMB (small to medium-sized business) division and an Enterprise division. Buy Box does not commingle clients among divisions as each has unique needs and requirements for proper account management.
Learn more about Buy Box Experts at BuyBoxExperts.com.
Podcast Episode Transcripts:
Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
Welcome to the Buy Box Experts Podcast. We bring to light the unique opportunities brands face in today’s e-commerce world.
James Thomson 0:18
A couple months ago, we did a special series of podcast episodes, featuring FBA aggregators, investors, brokers, bankers and some sellers that had recently sold their businesses to these investors. It was one of the most successful podcast series we’ve ever done at Buy Box Experts. And now we’re adding a new sequence. We’re going to be talking to a number of mastermind leaders, talking to them about what their members are saying and what they’re thinking about, as they look at all this investment money now flowing into the space. Hope you enjoy our series over the coming weeks. I want to thank the folks at GETIDA, our sponsor for this series. GETIDA is a global leader in Amazon FBA auditing reimbursements, analyzing Amazon data and reconciling FBA inventory, and filing claims for reimbursement on the behalf of sellers. Checkout getida.com to learn more. Enjoy our series.
Hi, I’m James Thomson, one of the hosts of the Buy Box Experts Podcast. I’m a partner with Buy Box Experts and the former business head of the selling on Amazon team at Amazon, as well as the first account manager for the Fulfillment by Amazon program and the co-author of a couple of books on Amazon, including the recent book, Controlling Your Brand in the Age of Amazon. Today’s episode is brought to you by Buy Box Experts. Buy Box Experts takes ambitious brands and makes them unbeatable. When you hire Buy Box Experts, you receive the strategy optimization and marketing performance to succeed on Amazon. We also help investors with due diligence services. Go to buyboxexperts.com to learn more.
Before I introduce our guest today I want to send a big shout out to the team at GETIDA, a global leader in Amazon FBA auditing and reimbursements. GETIDA analyzes your Amazon data, reconciles your FBA inventory and files claims for reimbursements on your behalf. To learn more, check out getida.com. Today our guest is Norm Farrar, Co-founder of the Centurion League, a mastermind group for Amazon centric private label sellers. Norm is also the host of the podcast, Lunch with Norm, as well as founder of HONU Worldwide, a sourcing and logistics company, AMZ and Beyond, a coaching and consulting firm, and prREACH, an influencer marketing company. Norm. Welcome. And thank you for joining us today on the Buy Box Experts Podcast. Hey, it’s my pleasure. So Norm, I want to talk specifically about your mastermind group and the types of interactions you’re having today with private label sellers of all different sizes. Tell me a little bit more about this group. And what differentiates it from some of the other mastermind and seller groups out there.
Norm Farrar 3:01
But probably, this is gonna sound strange. But probably one of the biggest changes or biggest reasons that we’re a little bit different is we have full time staff. We’ve got four full time staff working with us, that help us do our research to help us get the updates to feed it along to our members. But the other part to this is Tim well, Tim Jordan and my partner, a very knowledgeable guy. So he gets to meet a ton of people doing the AM/PM Podcast and bring that forward over to us. We’ve got Lunch with Norm, which is, you know, that helps us with, again, the network and spreading out the material. But part of the biggest probably the biggest thing that we have is being able to tell people and work with people. It’s funny that, like, I know what we’re going to be talking a little bit about today. But we were talking about how to build their businesses. We’re talking about a person coming in with nothing. All right, and leveraging the experience, not only from Tim and I, a bunch of experts that are members, but also people that are within. And we’ve got not only you know, the couple hours a week that we do the training, we’ve got a very interactive Facebook group, and we concentrate on slps. So we want to show people you know how to scale and automate their business. I think that’s fairly unique from you know, the other. A lot of the other, not podcasts, but training platforms that are out there, right.