He starts a side hustle selling bike parts which leads him to accidentally starting a $10MM/year E-Commerce company. He tells us how he built and sold that business, and what he plans to do next.
Key Points on How To Accidentally Create A $10MM/Year E-Commerce Store
- Dale grew up in Utah in a big family and he didn’t have an entrepreneurial mind as a child.
- At age 16 he stumbled into a store that sold salvaged freight from UPS and saw how resellers worked.
- He was always interested in biking and found many bike parts in the store for cheap. Dale started selling them on the internet.
- He quickly made $10k that he used for his 2-year missionary work in Portugal.
- After returning, he partnered with his dad to sell bike parts on eBay.
- It was a success and they made $250k in the first year and with steady growth reached $5M in a couple of years.
- At first he was buying used bike parts. Later he mostly participated in bike swaps, where a lot of bike shops were selling their excess stuff.
- Dale went to a lot of industry conferences and trade shows to constantly learn.
- According to Dale, most good businesses didn’t start with a great plan, they went through a lot of trial and error.
- When they sold their company, it was making $10M in revenue and was one of the top 10 e-commerce retailers in cycling.
- Dale became financially independent by the time he was 32, but didn’t want to stop working yet.
- He started investing in e-commerce companies, mostly brands outside of Amazon. He is also doing entrepreneurship coaching as it is his real passion.
- Currently he has 4 main things he is focusing on every week: developing educational materials, having an interview on his podcast, being on a couple of other podcasts and running his mastermind courses.
- Who is your success role model? Larry H Miller (the author of the book Driven)
- What is your biggest success? He rode 1200 miles with his wife and 4 kids in Europe and was camping for 2 months. And also when he built a half pipe in 7th grade.
- What does a typical day look like for you? It’s from 4 AM to 9 PM. He wakes up and spends 2 hours alone, reading and learning languages. He then has breakfast with his family from 7:30-8:30. Then he works until 5 PM and spends time with his family.
- What’s your favorite quote? “Good friend, I am building this bridge for him!” Allen Dromgoole – The Bridge Builder
- What are your hobbies? Table tennis, bike touring and being a dad for his 5 kids.
- What is the best business book you’ve read? Clayton Christensen – How Will You Measure Your Life?
- If there was one key piece of advice you could leave our listeners with about achieving success, what would it be? Learn to appreciate and value other people. Everything will go better with the people you work with if you build trust and appreciate them.
About Our Guest, Dale Majors
Dale discovered eBay and e-commerce early and turned a high school hobby of selling bike parts into a full-fledged business grossing over 10 Million dollars in annual sales. Business aside, Dale is most proud of riding bikes over 1200 miles through France with his wife and 4 young children.