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b'After being let go from his comfortable Wall Street position during last decade\\u2019s recession, Chad Rubin turned his family\\u2019s vacuum company into the successful online retailer Crucial Vacuum, turning it into an eight-figure business in just seven years. He is also a top 250 Amazon seller and the co-founder of operations software company Skubana. On top of his business ventures, Chad is concerned with the environment and sustainability, planting trees to compensate for the paper used to make his companies\\u2019 air and coffee filters.
\\nIn this episode, Chad discusses his path from Wall Street finance to ecommerce, the benefits of direct-to-consumer retail, and why mentorship is so important to him.
\\nAlso: head over to the Do Well & Do Good Facebook community to vote on which non-profits nominated by our guests should receive 10% of Dorothy\\u2019s agency profits.
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\\nShow Notes:
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\\nWhat is Chad most excited about in his life right now?
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\\nBuilding his businesses, specifically Skubana.
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\\nWhy didn\\u2019t his parents\\u2019 brick and mortar vacuum business inspire him to become an entrepreneur?
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\\nParents lived beyond their means and were always struggling to pay rent while every other parent in town had successful careers in finance.
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\\nHow did he go from working on Wall Street to selling vacuum components online?
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\\nWas overworked on Wall Street, and meanwhile parents\\u2019 company was walloped by Walmart.
\\nStarted researching ecommerce and convincing his parents to sell their parts online.
\\nEventually let go from his finance job, which opened him up to pursue online retail.
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\\nWhat was Chad\\u2019s mindset when he was laid off?
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\\nWas rattled because he had just proposed to his now-wife, but quickly took retraining and development classes. Saw an opportunity to help out his dad.
\\nViews being laid off as a blessing.
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\\nWhat advice does Chad have to those who have been laid off?
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\\nHard to feel good in the moment, but you can start looking for opportunities that your job previously closed off to you.
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\\nWhat beliefs about money did Chad\\u2019s family instill in him growing up?
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\\nParents were always preoccupied with paying the bills, which taught him the value of money.
\\nStill kind of paranoid about money, which is a good source of drive but can also cause anxiety in other aspects of his life.
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\\nWhat has motivated Chad the most to achieve financial freedom?
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\\nInitially he needed to pay rent and the bills, but also not wanting to replicate what it was like growing up.
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\\nWhat\\u2019s one of the biggest misconceptions that Chad thinks young people have about achieving financial success?
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\\nThat you ever slow down; even successful entrepreneurs are always on the lookout for new avenues for success.
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\\nWere there moments that Chad wanted to give up and go back to his old job?
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\\nYes, but they were only fleeting moments.
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\\nDid Chad have to deliberately work on his mindset and stay positive?
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\\nYes, and he actually outsourced his warehouse division to cut down on personal and logistic stress.
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\\nWhat is the common approach to selling on Amazon, and how does it differ from what Chad teaches in his book?
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\\nAmazon marketplace has 2-3 million sellers, like a very large digital flea market; instead, Chad sold direct to consumer, cutting out the middleman.
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\\nWhat are some similar direct-to-consumer companies?
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\\nWarby Parker, Dollar Shave Club, and other common podcast advertisers.
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\\nDoes Chad think ecommerce is a good path for those looking to get out of the 9-to-5 rat race? And if so,'