Rex McClanahan is the president of Buds Gun Shop, an online gun shop doing over a $100m per year in revenue.
I came across their site while doing some research, and they are not your average gun shop around the corner. Their traffic is through the roof (88k unique visits per DAY) and they are in the millions.
They started back in 2007 and currently employ around 300 employees.
What got me excited about this ecommerce business was the incredible feedback they have online: A+ BBB ratings, 28 thousand reviews on reseller ratings, and 99.8% positive feedback on ebay.
I learned a lot of things during this interview that I could immediately apply to my business and personal life. For example, I loved the part where Rex talks about setting up an algorithm to price the product based on user searches and behavior on the website. I think that was really intelligent.
On a personal level, I really admire Rex’s way of running the business, how he invests in his people, gives them responsibility so that they lead themselves, and also gives them the opportunity to work from home.
Lastly, I loved his idea of making fitness and health an appointment in you calendar.
There are a ton more insights in the interview.
Listen to it, and let me know in the comments what you learned from it.
What you’ll learn from this episode of Luminary Business:
- 02:40 Introduction to the company
- 04:18 Why did Bud hire Rex
- 09:50 Process of buying a gun
- 13:35 Upselling in a gun business
- 15:00 Growth of the business – 209%, 388%, 144% respectively during the first 3 years
- 20:30 Customer support is the biggest challenge
- 23:30 What was the thing that stood out while growing?
- 22:15 Algorithm to smartly price products
- 23:54 Does it look at the competitor’s pricing?
- 29:20 What he learned as the company grew?
- 31:40 Philosophy on being in the office and encouraging employees to learn on their own
- 34:54 Making sure people understand his philosophy and his decisions
- 38:45 Working from home, and how it has impacted productivity
- 42:18 Daily habits that have impacted success
- 45:48 Rex’s best advice – define your success
- 47:55 What he would have done differently? What mistakes did he make?
- 49:45 How to deal with internet trolls? – kill them with kindness
- 80/20 Excel sheet