In this episode of the Econ Breakthrough Podcast, host Josh interviews Chad Rubin, operations and strategy leader at Profasee. Chad discusses the critical role of dynamic, AI-driven pricing for e-commerce and Amazon sellers, sharing how continuous price optimization can boost profits without sacrificing sales rank. He offers actionable advice on leveraging AI tools, strengthening business operations, and building strong supplier relationships. Chad also recommends influential books and software for entrepreneurs, and emphasizes the importance of surrounding yourself with trusted advisors. The conversation provides practical strategies for sellers aiming to thrive in a competitive, ever-changing marketplace.
Chapters:
Introduction to Chad Rubin and Profasee (00:00:00)
Josh introduces Chad Rubin, his background, and his role at Profasee, focusing on e-commerce and AI-driven pricing.
Why Pricing Matters in E-commerce (00:00:37)
Chad explains his focus on pricing, its impact on profitability, and why many sellers neglect price optimization.
The Fear of Raising Prices and Real-World Example (00:02:01)
Josh discusses common fears around raising prices and shares a personal example of increasing prices without losing sales rank.
Dynamic Pricing vs. Static Pricing (00:03:57)
Chad describes Profasee’s approach to dynamic pricing, the importance of adjusting prices, and the Amazon flywheel effect.
Dynamic Pricing in Other Industries (00:05:28)
Josh compares dynamic pricing in e-commerce to revenue management in airlines and emphasizes the need for ongoing price adjustments.
Three Actionable Takeaways for Sellers (00:06:13)
Josh summarizes three key takeaways: focus on profits/pricing, incorporate AI, and strengthen organizational structure and supplier relationships.
The Importance of Level 10 Meetings and Team Alignment (00:08:38)
Josh highlights the value of EOS Level 10 meetings for organizational clarity and leadership alignment.
Most Influential Books for Entrepreneurs (00:09:41)
Chad recommends "The 4-Hour Workweek" and other books that influenced his entrepreneurial journey.
Favorite and Game-Changing Software Tools (00:11:27)
Chad shares his favorite software tools, including Ellie and Notion, for productivity and business management.
Mentors and Influential People in E-commerce (00:12:31)
Chad discusses the importance of surrounding yourself with trusted advisors and names key people he respects in the industry.
How to Connect with Chad Rubin and Profasee (00:14:46)
Chad provides contact information and ways to connect with him and learn more about Profasee.
Links and Mentions:
Tools and Websites
Profasee
ChatGPT
Ellie.com
Notion
Books
The 4-Hour Workweek" by Tim Ferriss on Amazon
The Almanack of Naval Ravikant
The Great CEO Within
People Mentioned
Brandon Young
Transcript:
Josh 00:00:00 Today, I'm super excited to introduce you to Chad Rubin. Chad leads prophecies operations and oversees its strategy. He often speaks about e-commerce, Amazon, and leveraging AI strategies on webinars and conferences worldwide. He is also the author of the Amazon bestseller cheaper, easier, direct. Prior to Profasee. He founded Think Crucial and co-founded Cubana and the Prosper show. He is also a father, husband, and loves coffee and tacos. So with that, Chad, welcome to the Econ Breakthrough Podcast.
Chad 00:00:35 Thank you for having me. Excited to be here.
Josh 00:00:37 I want to ask you the question, Chad. You've you've gone through multiple exits. You have your own ecom brand. Why the focus on pricing and why is it so important at the end of the day?
Chad 00:00:48 Yeah. So. Well, firstly, the reason why I was focused on price was that I was trying. I'm trying. I'm still working through it. I've been working on turning around my e-commerce business. It's been deteriorated over time. Didn't get a lot of love for me as I've been building other initiatives in my life.
Chad 00:01:03 And so, you know, for me, I optimize spend and my ACOs, and I've been optimizing our conversion rate and my listings itself and the infographics on those listing pages. But the one thing that's driving the most to the bottom line is a very small lever, and it swings big doors, but it's not being swung with price. And I just couldn't understand why. Like if we have a $10,000 ad campaign, you would never leave it on. Yo
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