Ecommerce is a boon for entrepreneurs and small business owners. A garage-based side business selling tee-shirts has grown into a brand with a fast-growing global presence like 5th Watches.
I was intrigued by the term “ecommerce” when our CEO Nathan Chan told me Deonna Monique made $1,000,000 from sending Instagram users to her online store.
Yes, you read that right.
It’s less than one calendar year. Not bad… last time I looked, the majority of people were overworked.
I am now obsessed with curiosity.
Why did newbies launch online shops that brought in extra money of $100 a day to over $600,000 a month?
As per Foundr’s usual style, I sought the advice of people who had built and scaled successful online businesses.
It is best to follow someone who has achieved success. Follow the example of someone in your area who is successful. Learn from experts.
To find the best brands, I asked entrepreneurs who run online shops around the world to share what they know. After narrowing down the answers, I selected 35 from different industries. Then, I looked for people and businesses that you may not be familiar with, but which are still dominating their respective fields.
Two simple questions were asked of each of the participants.
Which is the most important benefit of having an online shop?
Which of the following is your most valuable advice to someone looking to open an online shop?
Take notes about anything you find fascinating. Please share any valuable lessons you’ve learned about ecommerce in the comments section below.
All right. Roll on. The best have learned some of their most valuable lessons through hard experience.
Kyle G. G. Goguen Owner of Pawstruck.com
Being your boss is the best! Although I work harder than anywhere else, I cannot price my freedom.
I’ve changed my life by owning an online business.
This is good for me and my business. It’s good for my business and me.
Nathalie Reiter, Ecommerce Specialist
This is the foundation that can help any brand succeed!
What is my advice?
How can you make your company stand out? What makes it different from other businesses?
2. If your budget allows, you should hire a professional product manager who can help you translate the goals of your business and position it in the marketplace. You will end up saving a great deal of money.
If you do not know what your company’s needs are, web development could be an expensive mistake.
If you want to stay on track, ask for assistance and network with others with similar interests.
Nobody knows the answer to everything. You can always learn something from those around you.
You can start an online business using just a laptop. Many people talk about starting their businesses with laptops, but it’s amazing to see the results.
Do it. Stop trying to figure out how. It is important not to think about your business too much.
Stop reading and start. Just start.
Kevin Williams, the founder, and CEO of Brush Heros
Finding the sweet spot is an amazing experience. We grew in a year from $0 up to $2,000,000 and a lot of it was just holding on.
To get started you will need some basic technical creative skills. While you can hire someone to do simple jobs through Fiverr and Upwork, it is much more efficient to learn to Take the time.
Stephanie Farrell, Site Manager, Minnow + Mars
Although it can be difficult to run an online business alone, hearing from real customers makes the effort worthwhile.
Be prepared to wait a while to get your business off the ground. Know the costs of the warehouse and the staff. Don’t forget to pay attention to the little things.
You’re fortunate if it occurs sooner.
James Pointer, Founder, Melon Optics
I’m able to balance work with my life in a way that few other jobs can.
A bad cash flow situation can destroy a business. Plan where to get money when you need it, from family or the bank.
A great business can die from a lack of cash flow.
Kunal Jhaveri, Founder/Owner, Bear Grips
The coolest thing about owning an online store is that I can make money even while I’m sleeping! Online shops are open 24/7, every day of the year. Knowing you have made $X before the morning has begun is a motivator.
What is the best thing about an online shop? Make money as I sleep!
Our team loves to hear positive feedback about our products.
It would have been helpful to know where to start before starting. It wasn’t to be.
Focus on one thing. My business was successful because I focused on one single platform.
Emma Kruger, Founder, Riff Raff & Co
My life is in my hands. The hours I choose to work, and the things that I don’t like I can outsource. I still get to connect with clients.
It’s more important to look at the big picture than just daily figures.
The big picture is much more important than the numbers daily.
Joseph Hsieh Growth Marketer, Ecommerce Specialist, and Joseph Hsieh
It feels great to know that a client is happy with the product you sold.
To maximize your customer retention, you should grow your list of email subscribers, use retargeting ads, and implement marketing automation.
Put more effort into your audience and customers to increase their lifetime value.
Eli Williams, Founder, Foundry35
At parties you will realize you’re the only one in the group who doesn’t fear going back to the office on Monday. Your business is your slave and it’s not you. A lottery ticket rewards the work that goes into running the company.
Keep your foot on the gas. If you’re a person or a designer, focus on one idea. It is important to identify and play to your strengths as early as possible.
Simply Headsets Founder Pete Williams
We are amazed at how many companies we’ve been able to help. Many of the biggest corporations that we looked up to in the past have now become our regular clients.
When you can, dropship. Shipping and stock are overlooked because everyone is focused solely on website traffic. They don’t really work and take a lot of time.
Manage your inventory carefully…and dropshipping is a good option if you can. “
Justin Adelson founded Perfect Pixel Marketing LLC
You can get more sales by having your customers post their online purchases. It is an indication that you have a great product and are headed in the right direction for success.
Most ecommerce platforms have all of the necessary features to operate a profitable business. They aren’t all built to do everything (for example, drag-and-drop design, multiple types of content, etc.). ). Try out the free trial to see if it suits your needs.
Take advantage of the trial version to test all features.
Jeremy Prine, CEO, PCLiquidations
I love seeing unique ideas come to life and fuel growth. The hard work and dedication of all employees pay off. Develop processes at the start and improve them over time.
Lisa Batra founded My Kid’s Threads
While raising my two children, I started My Kid’s Threads. I had worked at Fortune 500 companies like QVC, Bath & Body Works, Lowe’s, and Charming Shoppes. It’s nice to be able to make business calls early in the morning and pop into my kids’ sporting or school events later.
Do not undervalue your product or service. Determine the price at which you will make a profit.
Do not undervalue your products
Allen Walton, Founder, SpyGuy Security
I enjoyed spending last summer on autopilot in Asia while my business was running smoothly.
I wish I had known this before starting my own business. It’s difficult to be successful if you don’t have customers who want to come back to your business again. Customers usually want only to purchase one item and then are done. The next time I start a business, I will get customers that want more.
What is the most important advice that I could give someone who’s just starting in ecommerce. Diversification is a great answer to this difficult question. You should never be so dependent on a single source of income that your business would collapse if the stream disappeared. For example, if 90% of your sales are coming from Facebook/Google/Amazon, and something changes (like it always does), you could be in big trouble. Some businesses have been destroyed overnight by such things.
If you are dependent too much on a single source of revenue, your business won’t crash.
Jordy Heis, Fashion Ecommerce Consultant
I enjoy working with owners of stores and watching a rush of orders during peak periods. There’s lots of excitement, adrenaline, and hard work. The feeling of surpassing all expectations and then knowing how many sales records you’ve surpassed is hard to match.
First-time shop owners can launch Lean. Launch lean for first-time store owners. Once a site is up and running, it’s incredible how quickly things can get done.
Start lean and you will not need all bells the first day.
Adam Schwab was the co-founder, managing director, and co-founder of Lux Group
I am proud to be part of a team that is amazing. We can create incredible experiences and generate significant profits for our company and partners.
It would have been nice to know from the start how crucial it is to build a leadership team that includes super-capable individuals. Although it may be tempting to keep an employee who’s not qualified, it will yield incredible results in all important metrics.
Jen Geale was the co-founder of Mountain Bikes Direct
In a sun-drenched Gold Coast it is hard to imagine being able to walk with your children to the nearby beach while still running a business.
The solutions we’ve found have been free and simple. Our results have been more beneficial for us.
Johann van Tonder, Co-author, of E-commerce Website Optimization
Magic and science are cool. It’s cool to watch how people react when you change the levers.
Spend time with your clients instead of focusing on competitors.
Concentrate on your customer instead of your competitors.
Stacey Chang has been the Chief warrior and founder of Veerah
Our shoes took two years to make. The journey was long and filled with ups and downs. I studied shoemaking in Italy and found sustainable materials around the world. It was a great feeling to have my product on our site and to see customers’ reactions to it.
It is important to take time out for yourself. If you are working 24/7, you can become consumed with your business.
Joshua Manley, President of Iron Fence Shop
You can create your future. I was in debt of $178,000 a year ago, including $33,000 on credit cards, 35k overdue for a rental, and 110,000 dollars worth of school loans. I also had no retirement or savings.
It is important to slow down. There are many things to consider and you may not know what you want to do until the end.
Make decisions methodically.
Scott Flear, the creator of Rugby Warfare
I feel proud when I see that my work has been used to express someone’s personality.
It would have been great to know the value of email and automated sequences from the very beginning. Wish I’d focused on them from the beginning and made each one more valuable.
Anubh is a co-founder of Four Mine
Being able to reach more customers through ecommerce is rewarding. Making personalized jewelry for people to remember their most memorable moments was rewarding. You can reach many customers with ecommerce.
You should test all your experiments. Don’t just focus on theory. It is important to just DO. Learning from mistakes is the most effective way to improve your results.
Don’t focus on theory. Do not focus on the theory.
David Laubner, Head of Digital Marketing & Ecommerce for Blink
You can tell if customers want something by looking at their comments. My team and I are constantly amazed by the amount of data that we can gather from Amazon, Facebook, or even your website. They will let you know if you ask them.
The key to success is simplicity! You may find it difficult to stay on top of all the important information you wish to share with your clients about your product or promotion. Be direct, and focus only on your most valuable selling points.
Michael Jackness, Co-Founder At ColorIt
The best part of the experience was hearing our customers praise our products.
It is important to know the link between cash, inventory, and growth.
Matt Edstrom, the head of marketing at BioClarity
is motivated to learn that customers are happy with the product that we developed.
You cannot succeed without their help. They are essential to your success.
Startups in the early stages must build a network of professionals and individuals who can provide advice and mentorship.
The results will drive your decision-making and lead to success and growth.
Keywords are the key to success for ecommerce.
Nathan Hirsch, the founder, and CEO of
BlackFriday and Cyber Monday are my best memories of running an online store. I experienced the holiday rush firsthand, as orders were coming faster than I could process for 24 hours. This is a testimony to all the work put into the shop.
The number of parts in the machine would have helped me to understand how to manage it.
Mark Dorsey was the co-founder and Vice President of Business Development for Bonanza
When you scale your business, you can earn money even while you sleep.
If you run a successful online business, you can earn money even while you are sleeping.
Bill Harding, myself, and others had no experience in running online businesses before building Bonanza.com. Over the last decade, we have found the best-sellers are the ones who offer excellent customer service. To increase sales and establish a positive reputation it is essential to build positive relationships with buyers. By offering good customer service to sellers on our platform we encourage them to pass this positive experience to their customers.
Kevin Chow was the co-founder & CEO of The World’s Best
To be a successful online retailer, it is important to master both high-tech and low-tech skills. Your technology and advertising must also be excellent. You should take care of your merchants and customers.
Building great brands is not a quick fix.
Building a brand is all about building one happy customer at a given time
The best thing is when clients say they enjoyed their experience. Businesses can distinguish themselves online by offering excellent customer service and building trust.
Touch of Modern CEO and Founder Jerry H. Hum
I have found it very rewarding to see people grow and change while working for our company.
It is important to have a brand that can evolve with the times. You cannot rely on fashions that are outdated in just a few years. Trends change and ecommerce can take a while.
Bart Mroz, the co-founder, and CEO of Sumo Heavi
One of the most rewarding things I have done is to find areas of inefficiency and fix them. This has a significant impact on the overall customer experience as well as profit margins.
If you want to avoid costly mistakes, it’s important to build a strong foundation.
Wesley Blundy, Founder, Curvy
What a wonderful feeling it is!
It is important to learn how to get customers for a reasonable price. It’s all worthless if you can’t master the art of customer acquisition.
Michael Tremeer, Founder, Trefiel
I am always happy to connect and meet with customers and listen to their positive feedback, no matter how large we become.
The most important thing for us has always been to understand the customers. Everything seems to go well when we put the focus on our customers.
George Hartley was the co-founder of SmartrMail
You can make an impact in your chosen cause by running a startup online. Hiring people who share similar values is also a great idea. Not having a boss is awesome.
The key to success is persistence. You must persist.
How about you?
How have you learned to use Ecommerce?
Please let us know.