In-Depth with 7-Figure Amazon Seller Matt Kostan

In-Depth with 7-Figure Amazon Seller Matt Kostan

In this in-depth episode of Seller Sessions, Danny McMillan sits down with Matt Kostan, a serial entrepreneur, to chart his rise from early business experiments to Amazon success and beyond. From selling on Groupon to building million-dollar brands, Matt shares his wins, failures, and insights into what makes an entrepreneur thrive.

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Breaking into Business & Early Failures

• First job: Marketing assistant at a small pharma company.
• Quickly gained responsibility, launched direct-to-consumer websites, and caught the CEO’s attention.
• Helped grow the company to millions in revenue before it was sold—but had no equity. A lesson learned.

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The Leap into E-Commerce

• Moved to a software start-up, gaining exposure to inventory management and online selling.
• First Amazon product: An iPod dock connector adapter—went viral with minimal effort, leading to thousands in sales within weeks.

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From Kickstarters to Seven-Figure Brands

• Kickstarter entry: Launched a mosquito repellent bracelet based on successful Groupon sales data.
• Year one on Amazon: Over $1M in revenue.
• Built a travel accessories brand out of personal passion, leveraging email capture via product registration to build a loyal customer base.
• Covid wiped out sales overnight. Adapted by launching a no-touch tool during the pandemic, raising nearly $100K on Kickstarter in 30 days.

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The Dark Side of Amazon Success

• Competing with big brands led to suppliers ghosting him—a factory was allegedly bought out by a large corporation.
• Negative reviews killed a promising mosquito tent product—users found it too difficult to fold, despite clear instructions and videos.

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Building Product Opinion & the Future of Amazon Selling

• Noticing that top Amazon sellers systematically tested everything, Matt (with Andri Saldak) launched Product Opinion to bring qualitative testing to the Amazon space.
• Lessons from CRO (Conversion Rate Optimisation):
  • The HiPPO effect: CEOs often force their opinions into decisions instead of relying on data.
  • Frankenstein images: Loading a main image with every “proven” tactic leads to disaster.

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