Understanding Inventory and Brick and Mortar Stores with Alex Grossman

As a serial entrepreneur, it seems that Alex has done it all. His latest venture into the retail space has proven to be more challenging, but he’s learned a lot. In this episode, Alex shares more about his specialized venture into the motorsports industry and his advice on running a brick and mortar store. Alex shares how COVID has changed the landscape for businesses and what people are more likely to purchase post COVID. Lastly Alex talks about marketing and how he gets customers into the store, and how the brick and mortar store allows for more interest. Tune in today to learn more. 

IN THIS EPISODE:

• [5:41] Alex shares what his newest venture is. 
• [9:05] How do you pick a niche without getting too specialized?
• [11:19] Are there a lot of inventory control issues in Alex’s specialized business? 
• [18:58] What was Alex’s biggest challenge when taking over this business? 
• [24:12] Alex shares his background. 
• [26:05] What is the best thing you can do financially when you own a retail store? 
• [28:58] How did COVID shift and help certain businesses? 
• [32:17] How can you reach Alex?
• [34:29] How does Alex market to people online to get them in the doors?  

KEY TAKEAWAYS:

• Inventory can be a huge challenge in having the right amount on hand. Understanding what your clients and customers want is essential to managing inventory. 
• When buying a business that is already established, it is key to have the prior owners help you get situated with the business. Having them on your side, promoting you, and helping with the transition will make a huge difference in taking over. 

LINKS MENTIONED:

Alex Grossman LinkedIn

Race Ready Products Website

Race Ready Products Instagram

Call Race Ready Products @ 619-691-9171

Ask Brien Radio Show

BIO

Dynamic and results-driven problem solver, team builder, and thought leader with an accomplished record in product, management, product marketing, program management, and corporate marketing leadership at major technology corporations and successful entrepreneurial start-ups.

Highly collaborative and motivational cross-functional team leader

Excellent relationship management with internal staff, contractors, vendors, customers, and other partners and stakeholders.

Create and launch successful and innovative new software, AI, cloud, SaaS, and hardware products and services for commercial, enterprise, consumer markets.

Develop go-to-market plans for sales, marketing, and product teams.

Equally comfortable working with software engineers in Agile methodologies and SCRUM as with senior management, marketing professionals and web developers.

Strengths include excellent presentation and customer-facing skills, analyzing markets, identifying new niches, gathering and evaluating customer needs, building the internal mission, developing innovative products and services to meet the requirements of demanding users and industries.

Proficient at creating and implementing effective multi-platform digital marketing strategies.

Career highlights

Created a multi-billion dollar product line for Apple. Developed product roadmaps, built strategic partnerships, and delivered business analysis.

Revitalized a lethargic digital workflow product line leading to 10x sales growth year-over-year

Built a market leading content production supply company Achieved profitability with $44m sales in 36 months through intense customer relationship management, product and go-to-market execution

Developed a highly successful appliance product and marketing category, and AI product plan and new division and successfully launched in less than 9 months.