Artwork

Contenuto fornito da Jordan West. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Jordan West o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
Player FM - App Podcast
Vai offline con l'app Player FM !

Ep 567: My Biggest E-commerce Founder Mistake (Learn From My Failure) with Jordan West

13:04
 
Condividi
 

Manage episode 426982844 series 3315765
Contenuto fornito da Jordan West. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Jordan West o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

Send us a text

The importance of keeping operational expenses in check - a critical piece of advice for any e-commerce entrepreneur striving to build sustainable, long-term success. The lessons are hard-learned, but the potential for growth, resilience, and smart decision-making shines through every word.

In this episode, Jordan West gets into some of the biggest mistakes he has made as an e-commerce entrepreneur. With a focus on sharing his lessons to help you avoid similar pitfalls, Jordan gets vulnerable about the costly errors he's encountered, including the impact of high operational expenses (OpEx). Drawing from personal experiences and industry insights, Jordan shares cautionary tales and practical advice to help you navigate the challenges of growing your e-commerce business.

Listen and learn in this episode!

Key takeaways from this episode:

  • The importance of keeping OpEx down and being as lean as possible in e-commerce to avoid financial strain and difficulties during tough times.
  • The cautionary tale of making high OpEx-related decisions, such as leases, space acquisitions, or hiring, and the potential negative impact on business growth and scalability.
  • The recommendation to carefully assess expenses before making big purchases, leases, or hires, and to consider scaling down before committing to large financial obligations.
  • Consideration of outsourcing certain functions, like customer service, to ensure flexibility in scaling up or scaling down based on business needs.
  • The importance of negotiating with software companies and agencies to manage costs and carefully evaluating the financial impact of scaling up expenses.
  • The emphasis on being prepared for economic downturns, potential Facebook ad issues, and the necessity of evaluating OpEx before marketing spend.

Recommended Book:
The Wealthy Barber: https://www.goodreads.com/book/show/2674.The_Wealthy_Barber

Growth Plan: www.upgrowthcommerce.com/grow

Million Dollar Offers: www.upgrowthcommerce.com/grow

In this episode's sponsor is Revenued - is a financial technology company that provides businesses with revenue-based financing solutions. Instead of relying on credit scores or collateral, Revenued offers funding based on a company's revenue. This allows businesses to access capital quickly and repay it as they generate income.

Learn more here: Revenued

  continue reading

607 episodi

Artwork
iconCondividi
 
Manage episode 426982844 series 3315765
Contenuto fornito da Jordan West. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da Jordan West o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.

Send us a text

The importance of keeping operational expenses in check - a critical piece of advice for any e-commerce entrepreneur striving to build sustainable, long-term success. The lessons are hard-learned, but the potential for growth, resilience, and smart decision-making shines through every word.

In this episode, Jordan West gets into some of the biggest mistakes he has made as an e-commerce entrepreneur. With a focus on sharing his lessons to help you avoid similar pitfalls, Jordan gets vulnerable about the costly errors he's encountered, including the impact of high operational expenses (OpEx). Drawing from personal experiences and industry insights, Jordan shares cautionary tales and practical advice to help you navigate the challenges of growing your e-commerce business.

Listen and learn in this episode!

Key takeaways from this episode:

  • The importance of keeping OpEx down and being as lean as possible in e-commerce to avoid financial strain and difficulties during tough times.
  • The cautionary tale of making high OpEx-related decisions, such as leases, space acquisitions, or hiring, and the potential negative impact on business growth and scalability.
  • The recommendation to carefully assess expenses before making big purchases, leases, or hires, and to consider scaling down before committing to large financial obligations.
  • Consideration of outsourcing certain functions, like customer service, to ensure flexibility in scaling up or scaling down based on business needs.
  • The importance of negotiating with software companies and agencies to manage costs and carefully evaluating the financial impact of scaling up expenses.
  • The emphasis on being prepared for economic downturns, potential Facebook ad issues, and the necessity of evaluating OpEx before marketing spend.

Recommended Book:
The Wealthy Barber: https://www.goodreads.com/book/show/2674.The_Wealthy_Barber

Growth Plan: www.upgrowthcommerce.com/grow

Million Dollar Offers: www.upgrowthcommerce.com/grow

In this episode's sponsor is Revenued - is a financial technology company that provides businesses with revenue-based financing solutions. Instead of relying on credit scores or collateral, Revenued offers funding based on a company's revenue. This allows businesses to access capital quickly and repay it as they generate income.

Learn more here: Revenued

  continue reading

607 episodi

Tutti gli episodi

×
 
Loading …

Benvenuto su Player FM!

Player FM ricerca sul web podcast di alta qualità che tu possa goderti adesso. È la migliore app di podcast e funziona su Android, iPhone e web. Registrati per sincronizzare le iscrizioni su tutti i tuoi dispositivi.

 

Guida rapida