Episode description

Jeremy Miller is the Chairman and Founder (former CEO) of Health-E Commerce, which includes companies such as FSAstore.com, a site which focuses only on customers with Flexible Spending Accounts by exclusively carrying only products and services that are eligible for purchase with credits in their Flexible Spending Accounts. After realizing that over $400 million worth of credit is being forfeited by American employees every year, Jeremy set out to build his business to help his customers fully utilize their Flexible Spending Accounts and to provide access to Flexible Spending Accounts eligible healthcare.

In today’s episode, Jeremy shares the importance of planning ahead for the end of year fourth quarter holiday sales, the challenges he faced with respect to regulatory compliance and how educational materials can help build brand loyalty and improve sale conversion rates.

Resources:

https://fsastore.com/ - Check out FSAstore.com

https://hsastore.com/ - Check out HSAstore.com

Actionable Take-aways:

1. The fourth quarter of any calendar year is usually the busiest for any retail business. Start planning ahead and determine what you need to have in place to get ready for the surge in business or risk losing precise sales to your competitors.

2. If your business idea is one which is in a highly regulated industry, make sure your business model is in compliance with applicable laws and has the relevant licences and that you stay up to date with any regulatory changes. Reach out to the relevant legal advisors for help if necessary.

3. Providing educational materials can be a great way to establish customer loyalty and improve sales conversion. Like any form of content that you produce, it will pay dividends in the long run so start investing in creating good content for your customers.

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