E535: Will E-commerce Ever Get Easier?
Mike discusses some hard hitting points of e-commerce with long-time friend John Canetta, including whether e-commerce will ever get easier, the hidden stresses of running an ecommerce business, and how John was able to recover from losing 80% of his business during quarantine.
With a new year coming around, it looks like the ecommerce landscape only gets more and more difficult. Amazon introduces more changes to storage fees, the number of competitors increase day by day, along with all the other stresses of a growing e-commerce business. In fact, the last time I've experienced an “easy” ecommerce year was back in 2019.
That's why I've invited John over to the podcast to discuss today's topic. John is a 7-figure business owner, with almost as much (if not more) years in experience selling on Amazon and Google than I do.
Here's some timestamps to help you skip to your favorite parts:
- 0:00 – Introduction
- 0:30 – Ad Spot
- 2:46 – Podcast Starts
- 4:49 – Background on John
- 6:22 – The Hidden Stresses of an E-Commerce Business
- 9:15 – Difficulty of E-commerce
- 11:43 – Why Cash is King
- 13:10 – Ecommerce Struggles
- 14:36 – Evaluating the Financial Model
- 16:09 – The EOS Model
- 17:33 – Tracking Return on Working Capital
- 19:04 – 1 SKU Brand vs 100 SKU Brand
- 22:51 – Machinery Manufacturing Issues
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Until next time, happy selling!
