In-Depth With Norm Farrar

Jodea Pearl Abalos
June 4, 2020

Not only does Norm has the greatest beard in the game, he is quite possibly the nicest person in the Amazon space… Loved by all, far and wide in the community. Today, we chat with the man behind beard, as we go In-Depth on his entrepreneurial career.

Stay home, stay safe!

Updates from Norm

A few clients have been suspended for no reason.
Norm Farrar has spent time trying to figure out what has happened.
He has been working on press releases for ranking and DSP and has been blasting out traffic everywhere.

Influences

Norm’s father was a true serial entrepreneur, twenty companies going on at once.
Here is a gem he learned fron his father: “Try to do things that other people will not think of”.
He also worked for his father at the early age of 10, and got to meet all types of people.
Norm dropped out on the last semester of college.

Support Roles

Norm Farrar loved boxing and he loved Mohammad Ali,
He left school in 1980, he went into the music industry and started his company with friends.
They worked in promotions and did not make a penny but it was fun.
After the company dissolved, he also had a brief stint in the military and had a lot of fun.
Norm then went back to college and started a company with another guy while working a part time job.
He worked a job as the PA in a film production.

1984, Growing Pains

Norm started a grandfather company catering to clock parts and private label companies.
Things were going really well — until Free Trade.
- Free trade allowed his competitors to work faster and cheaper.
Norm worked with high quality materials while his ‘free trade’ competitors were doing mas production with cheaper materials.
His company was not able to compete with the price.
As a result of the setback, it started manifesting effects on his health: ulcers, acid reflux and possibly depression.
Norm lost his company and got just one day job after that.
- The last day job he ever had.
- He went working as a salesperson for a company and after a few months he went out on his own.

A Kick In the Nuts

Another sales company recruited him, he had to pay $25,000 to be brought in as a partner.
He signed up BUT to only find out that there were two sets of books.
Norm was in his mid twenties when this happened: he got conned to sign up and pay off the company’s debt.
This was right after his grandfather clock company was closed down.
They lost their home and car.

1990, Getting Back On Your Feet

In 1990, he then went to start a marketing company with a friend.
- At the time, most of the shops were mom and pop shops.
- They pushed margins up and ran tons of campaigns, working with many companies.
- They then started integrating the companies they worked with.
- Another bigger company came in and bought them up then becoming the first publicly traded premium incentive company.
While working with Hershey’s campaign, the company floated them because the idea was great.

The best thing happened with Northern Telecom, the company was only able to pay the companies in 280 days.
- Norm offered to handle North America Telecom suppliers, he will pay out the contracts and he get paid back with 3%.

The Big Collapse

Another company wanted to buy NorTel but deal didn’t go through, the company collapsed.
Most of Norm’s income was coming from NorTel.
Salesmen started leaving Norm’s company.
Staff too, started looking for work fearing their livelihood will not survive.
There were 70 or 80 suppliers, he pulled money from them.
- He started working with them and letting them know what was going on.
- He ended up not having to pay almost 100% of what was payable.
He maintained his relationships and chose legacy over money.
- Lesson: Your business can be rebuilt but your reputation stays with you.

Mid 90’s, The Online Company

While he was working on the Premium Incentives company, he was working on the concept of an online company on the side.
He worked with overseas contractors he met through NorTel.
They made logos and design online, that people could order.
He worked sourcing products in China and services in India.

1999, Bouncing Back Up…. Again.

While he was working on the Premium Incentives company, he was working on the concept of an online company on the side.
Norm’s father saw his work with his new company and invited him to start working with the family business.
They worked together to what became the largest ink-pad manufacturing company.
These led to other manufacturing opportunities.
He saw an Amazon ASM event– and everything started coming together.

The Perfect Storm

During the event, other people just could not figure out what Amazon was about.
Norm offered help and that is where his Amazon managed services agency began.
He still applied his “vertical integration”, he started buying businesses he will need to work with.
He found himself missing his content — he was getting his press releases from PRREACH.

Vertical Integration

First step was figuring out who are the perfect strategic partners.
- Copywriting, PPCs, FB Ads, Chatbots
- Norm had to know about what was happening around his business and find an expert for each facet for his business.
Norm bought PRREACH when the opportunity came up.

TIPS

Do not put your eggs in one basket.
Do not rely solely on Amazon, diversify your business.
Live within your means.
Cash flow is major

Some Notes on the show from Danny

Notes from Danny: Be careful of the game “Break The Contractor”, where big companies do not pay the contractors until the job is almost done, with stretched out payment terms and the contractor is bleeding out their resources to complete the job but will not be able to due insuffiecient resources. Be careful of the terms when you start working with other companies.

Connect with our guest:

Norm Farrar, check out prREACH

To get help, or if you have any question then get in touch with us: danny@sellersessions.com

If you are looking for help or more information check out: https://sellersessions.com/case-studies/

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SellerSessions LIVE — Tickets SOLD OUT!

Send Danny an email to get on the wait list: Danny@SellerSessions.com

About SellerSessions 2020

Our venue this year: The David Game Keynote Theatre, with tiered seating.
This year we are supporting a charity and a portion of the proceeds will be given to Tomy’s pioneering studies for prevention of babies born asleep: https://www.tommys.org/
We will give away 5 FREE tickets for single-parent Amazon sellers. If you know anyone please get in touch to get the details.
Confirmed speakers and more to come:
- Brandon Young
- Dr Yev Marusenko
- Destaney Wishon
- Zack Franklin
- Nadine Schöpper
- Liran Hirschkorn
- Ivelin Demirov
- Dr Ellis Whitehead
- Paul Harvey
- And yours truly, Danny McMillan. I will be hosting the show and speaking on a topic.