Joshua Chin 14:15
That’s fantastic. All right. Now, here’s the northern me, and I cannot help this. What if there was a way to retarget consumers, like just recent buyers, who have left the page with a one click post purchase upsell on email or SMS directly, literally just one click, they add something to cart. Maybe they gotta go onto the site confirm. Do you think that’s a possibility?
Kiril Kirilov 14:51
I don’t only think but at least I’m going to speak about email. It’s possible and also overseeing that technology right now. But it’s once again you No matter of how fast we can, you know, push it on staging and then go live in production. And we can put it on a fair amount of stores to validate that the technology is providing and contributing to the bottom line more revenue. But on email 100%, it’s possible because Shopify is providing you the tools and resources on SMS, I don’t know yet. But we’re definitely going to look into the channel as well, because you know, way better than myself email and SMS right now, the name of the game post purchase, even pre purchase as well, like abandoned cards whatsoever. And also, just a way to bring back you know, more eyeballs on steroids, SAP,
Joshua Chin 15:40
the posts, to post purchase stuff, down sells upsells, especially within the 24 hour window, and the opportunity for your warehouse and packaging to bundle items together to save on shipping. That is massive, because it creates a second purchase event that acts as a repurchase effectively. And psychologically, in a consumers mind. It is a doubling of trust, essentially. And that makes the third purchase even easier than what it used to be. There’s a, there’s a, I think, some datasets floating around where on average, brands get about 20% of the customers who buy again for a second time. Yeah, but of those customers that buy a second time 60 to 70% of them by again for the third and fourth time. So if we get someone to buy, again, quickly, I think the barrier to getting a third and fourth purchase dramatically reduces. That’s my theory, and I’m really interested test it out. So let me know when when you’re when your beta programs out.
Kiril Kirilov 16:49
I’m gonna definitely let you know and you’re touching on a great component here, it comes down to three Quincy, and it comes down to, okay, somebody’s going to place an order in the first 24 to 48 hours, they’re likely to spend more money, because it’s the adrenaline coming up, that is going to make them push and do that emotional activity. But on the other hand, we have the delayed component about what is my current? Or to put it like that, what are my current numbers, when it comes down to customer lifetime value, and how frequently I can make more customers buy in a window of a month or two or three, just to know that, let’s say 90 days, if you’re if a single customer is going to be spending 300 USD LV, right, you know that you can go super hard on acquisition on the throne, because at some point is going to justify the expenses against what you can contribute back to your gross revenue, but in the sense that you can keep on pushing and acquiring more new customers. And this is exactly what what’s the major advantage between SMBs and people that understand ECAM like brands, etc. How to read through the KPIs to make better predictions.
Joshua Chin 18:11
Dude, I love that. Let’s talk a little bit about your background and your, your, your thought process around building Rush. So you’ve had a ton of experience across pretty much every facet of ecommerce. And when I when I say ecommerce to the folks that I know that’s in my peer group in Singapore, where I’m based at, in Southeast Asia, when we talk about ecommerce, it’s primarily marketplaces, and driven by just a couple of companies. That’s Lazada shopee. Amazon’s coming up a little bit in the region. And it’s that’s kind of like the whole mindset. And then when you go to the US and the Western world, ecommerce is kind of split up into direct to consumer ecommerce. There’s marketplaces like eBay, Amazon, and you have leash marketplaces like Wayfair and all that stuff. Yeah. What? What has been your favorite part of that journey leading up to building Rush today?
Kiril Kirilov 19:15
Ah, great question once again, honestly, I love to believe that if you if anybody is going to continue on developing themselves, in any sense possible when it’s going to be education, providing better communication channels for your business, also, leveraging you know, networks of people that can contribute and make you better is probably going to give you a chance to live 100 plus years to put it like that. So it’s like the longevity and also pursuing that dream which is quote unquote, a dream that you can you can definitely be in the in a position to serve you only eating your family needs and whatever you’re currently, at the stage of, I don’t know, if you’re 20 years old, if you’re 30 years old, whatever the life is gonna put you into play, to buy back your time, you need to buy back your time at all cost. I can see it as a great downside about the businesses that we’re currently supporting, that people are just hustling 20 plus hours per day, without sitting down and thinking about, Okay, I’m going through that journey. But what I can do right now, in order to support my dreams come through. And that comes down to either optimizing your business through more human power and resources. Or you’re probably not sitting on the right business opportunity right now. So you just need to make festivals, optimize and move ahead faster. So again, to answer the question, I’d like to keep on developing myself as a human being number one as an entrepreneur number two, and hopefully contributing to a bigger pool of people who are going to be like, Okay, I mean, out of 1000 things, you know, Kira just said on that podcast, I’m going to take one, but it’s going to make my life better. And if we can keep on making somebody else’s lives better, I think that we can make the world a better place to live in 1% of the time. 1% of the time, correct. Every single day is when more than you need them. Yeah.
Joshua Chin 21:21
Talking about moving the needle? How much? Do you think that your MBA has moved the needle for you in your career? controversial. Some screw MBAs, some are like, change the game for me. What’s your take, I, I
Kiril Kirilov 21:40
don’t know how to, I don’t really justify the MBA towards the business improvement. Just because, as I said, it’s like what it used to be like in 2008, it’s nothing compared to what we’re seeing right now in 2022. And it all comes down to am I at the right place at the right time to keep on being a horror pirate like to wake up in the morning and to enjoy that you’re going to have five or 10 hours put together, and you can contribute to something that is gonna, you know, make the business grow, make people satisfied, who are the people who are going to build a team and teams and these people are going to build a business, etc. But, again, being satisfied with what you’re doing on a day to day basis, so that you can keep on being happy. And again, this is going to contribute back to your relationship with your family, with your friends, with your girlfriend with your, you know, sons and daughters, whatever the case might be. But once again, I think that the speed of the of the of these opportunities that are growing right now, which is tremendous, and you can optimize only on a day to day basis, I’m not on optimizing him, you know, two weeks from now, or I don’t know, a month from now, it’s so fast, and everything is moving so fast right now that I’m going to just wake up think about I have a podcast tomorrow with Josh, I’m going to prepare for that. And it’s my main focus tomorrow, and the mods morals that you can optimize 1000 times, likely you’re gonna get that in the year from now, two years from now, three years from now, but you don’t optimize for 2025 From now, because you can predict the speed and movement of the markets.
Joshua Chin 23:28
That makes sense. Alright, so Kiril, you have been through quite a bit comparative compared to most of the entrepreneurs and people in the ecommerce space, your experience is tremendous. What is your top regret over the course of your your career?
Kiril Kirilov 23:58
I have one regret, by the way, I was overthinking some certain certain areas of my life of my business of anything for longer than I needed to like there are some simple questions that have simple answers and simple solutions. But sometimes we’re gonna sit on that question for even two, three weeks, four weeks, because we’re pondering too much. And if you’re in a state of having more than two or three days thinking about a specific topic that requires a solution, just you know, pick up your phone, call a friend of yours and listen to somebody else’s opinion. And you can oversee the solution and move move ahead faster. And maybe a second point that I can bring bring on top is you don’t need to ever think that you are the smartest person in the room. I found I found that super, super fascinating because the more that you can take as business results. The more that you can improve your self esteem and your self awareness but it’s actually is not really making you a positive impact, because you’re gonna go out there and you’re going to think about it. No, no, I don’t need to know further than that. But you’re going to always be in the wrong position with that mindset.
Joshua Chin 25:19
I can speak to that as well.
Kiril Kirilov 25:24
Share, share something with us in that regard.
Joshua Chin 25:27
Yeah. I mean, the whole idea of overthinking, especially alone is destructive. It’s so easy to go into a hole of the what if this? What if that, and I don’t know this, I don’t know that. And I think a lot of people on the contrary to thinking that they know everything is thinking that they know nothing, is that’s also the other extreme. And I tend to fall on that, that side of the extreme. And I often use the excuse that this is my first job. So I don’t have anything to back myself against. And therefore I don’t have any experience. And therefore, I cannot think that I have any, any value to bring to the table. But that’s not true. I think that that’s often a limiting belief that I catch myself saying to myself, in the narratives in my head, and that’s destructive, because like, like you mentioned, sometimes it’s all it takes is literally to pick up your phone, phone, a friend, text, someone you trust with that idea, and literally just bounced that idea of that person. And sometimes that gives you a fresh perspective. Or maybe that gives you a connection to someone else who can help you solve that problem. And one thing I’ve learned really recently, a little bit too late is that most of the problems that we’re facing, and going through right now, unless we’re building something absolutely revolutionary, that has never been done before in the history of mankind, has probably been done before. So the idea of, and I’m, I’m big fan of this idea that innovation is not a means it’s not an end, it’s just a means to an end. And often it’s not necessary. Innovation is a need, not a want. And you only innovate when you’re forced to correct because 99% of the things that we’re trained to do and built have already been done before. And you probably have a playbook or someone that you that you can phone to fix the problem that you’re facing right now. Yeah,
Kiril Kirilov 27:38
same playbook, by the way. And I’m going to touch on that point, I think that I was actually a victim of that myself. Consuming short form content on social media is completely something that we don’t need, because it’s going to provide you 1000 opinions at once, your mind is going to blow up, it’s going to blow up instead of when you say playbook instead of getting one book, which is written by somebody with great expertise results, and has the legacy been put together. And just read through every single word out of it. And you’re going to definitely take some golden nuggets apply, apply them ASAP. And maybe I don’t know who said it. But when you try to appeal to, to a big pool of people, or for example, appeal to everybody, you’re likely going to appeal to nobody, because you’re not really focused on what’s going to move the needle tomorrow for your business, your current seat, but you’re trying to you know, move the needle in 1000 different directions, which is ridiculous.
Joshua Chin 28:41
I love that I love the idea of going deep when it comes to books. Yeah, and content. The the breadth of information often isn’t necessarily needed anymore, especially at Kiril, especially the stage that you’re at right now. You’re trying to go from effectively your your past zero to one stage, you’re going from one to 10 from 10 to 100. That’s where you want to be. And what I’ve come to realize is that that takes insights, not knowledge and insights from going deep on someone else’s kind of thought process and decision making process. Versus here are 10 tips on how to scale social media or Facebook ads. So it’s fascinating to think about, what’s your go to? What’s your go to book or resources that you dive deep into?
Kiril Kirilov 29:39
Oh, I’ve been reading a couple of books lately. One is written by a guy called Alex Hormozi. He is an Indian entrepreneur. I think the book was called and $100M Offers Correct. Make an offer so good that people prospects are going to feel sorry for saying no. Another one is by Zig Ziglar. And it’s called Secrets of Closing the Sale phones quote, unquote, the Bible of becoming a better closer and the Bible of marketing in United States. And another one that I’ve been listening to on my Kindle and also reading through it, it’s the ways of that is called the Wizard of ads, books that are completely in line with my current state, and I’m taking some good and great nuggets out of them every single day, and just applying them into the business. And I’ve stopped watching, you know, YouTube and TikTok and 1000 other sources of content, if it’s not really something that I’m gonna, if it’s not directly impacting, you know, my current state in my life, because as I said it, you’re going to get advice from somebody who is not even at your position where you’re at, at the moment in your business in your life. So it’s not applicable. So it’s just a waste of your time and your energy.
Joshua Chin 29:40
I love that, Kiril. What’s one thing? What’s one thing that you wish more people know about? Or if you had the opportunity to add the click of a button, send a push notification to every mobile phone in the world? Yeah, what would you? Well, you have an
Kiril Kirilov 31:22
issue want to be contrary to what Gary Vee is preaching, I’m going to be like screw up patients like, you don’t need to be passionate about anything, because you’re overthinking so many different areas and topics. And you’re likely going to pick up the wrong choice in the wrong solution. So I’m not saying that you need to hunt each country down hard, but I’m saying that patience is actually a victim of your success. Because the faster you can move with the right proper advice, the better you’re gonna get every single day. And if I if I have to speak about my years of track and field and sport in general, like you’re not just being patient, that in 12 years, you’re gonna go to the Olympics, you’re putting up your sweat and tears every single day as fast as humanly possible to get there. So optimize on speed, rather than being patient. And I see that like, I’m patient right now. And I’m patient, but I can see these people just struggling, struggling, struggling right now in their patients. And it’s ridiculous.
Joshua Chin 32:19
I’m gonna I’m gonna disagree with you a little bit there. Go for it. With patience. I think what Gary Vee has been trying to say is he has a saying macro patience. Micro speed. Yeah, so not hesitating in the micro doing things, making those decisions, those hard choices. I think patient in long run, because it takes time. But it doesn’t take time for you to make a decision and execute right now.
Kiril Kirilov 32:51
1,000%, but you get it right. But I agree percent are gonna be like, Okay, I’m still patient, I’m just gonna wait for success to come in, and being patient and gotta wait for something to happen. Miracles don’t happen overnight. They don’t even happen. You need to go out there. And make sure that whatever we’re going to do is going to contribute to the better tomorrow. But it’s the better tomorrow. It’s not like the better 10 years from now.
Joshua Chin 33:16
It’s I think people are using patients as an excuse for inaction. And yes, that’s where it becomes a problem. Correct. That’s, that’s a solvent
Kiril Kirilov 33:25
of being patient has to be somewhat going and been heating in a different angle. And that’s why the broader picture is not really providing, you know, the right advice to 1000s of people who are consuming right now. And by the way, I love Gary Vee. I’m not going against him and just being offensive to Gary. But I’m just saying that you can get lost in Gary V’s content, like there’s so many things flying around every single day. So I can’t I can’t see the bigger picture that he’s trying to contribute when it comes down to we’re calling out what what your machine is going to look like what advice that we’re giving that is applicable right now. I see this as like many quotes many advices but randomly put together. And even even in his place, he’s running around hundreds of millions of revenue every single year across his businesses, master if he can start providing some advice, which is applicable to the current state that he is, he is at right now. I think is definitely going to provide help to less people with more impact.
Joshua Chin 34:27
Interesting, interesting perspective. Kiril, for people listening, wanting to connect with you. What’s the best way to get in touch?
Kiril Kirilov 34:40
I mean, come to Bulgaria and see me up now. Oh, yeah. Everybody’s invited to come and see our country. It’s a beautiful country, small country. I think that we have a great nature. I’m trying to make an ad for Bulgaria right now. I love my country. I love my friends here. And I love my family as well, but On the other hand, go and hit me up on Twitter, I’m on LinkedIn as well lately. And if you always go to our website, code, Rush.app, click the Contact button, you can see the chat, send the notification out to our guys in the support desk, and they’re going to forward it to myself. But I would love to be in connection with like minded people every single day. And I also love to connect with people on conferences, events, like the one that we met together in Barcelona in 2019. And I think the affiliate world is coming up in Barcelona DC as well after has July. Yeah. So we can connect there as well.
Joshua Chin 35:37
person, you know, to Barcelona or affiliate world, Europe. Hopefully the world opens up even more over then I hope so too. And also shout out to Rush app rush.app. If you guys are interested in testing, Rush, they do have a seven day free trial.
Kiril Kirilov 35:59
For the listeners of the show, we can throw away a 30 day free trial and I can already reach everybody a 30% off, just give us a shot. It’s not going to cost anything to bottom line, because 30 days for three even on the biggest plan that we’re currently supporting. See the outcome on day number 25. Give me a heads up, and I’m going to make your sweet deal.
Joshua Chin 36:22
Awesome. All right, you heard it here first 30 days free trial plus 30% discount. All you got to do is use the link in the show notes. Cheerleader sent sent across the link. And I’ll post it up. And if you go straight to Rush you can request for a demo just mentioned that you’ve heard about Rush in the ecommerce profits podcast and they’ll hook you up. Kiril, thank you so much for being on the show. I had a lot of fun. Can’t wait to connect with you again.
Kiril Kirilov 36:50
Thank you too, buddy. It was pleasure to be part of the show.
Outro 36:57
Thanks for listening to the eCommerce Profits Podcast. We’ll see you again next time and be sure to click Subscribe to get notified of future episodes.
