There Are 2 Directions Your Ecomm Brand Can Go - You Can Be A Brand That Scales Up, Or You Can Flop. In This Greatest Hits Episode We Share the Secrets We've Seen Behind The Brands That Make it Big.
Some eCommerce brands make it big while others stall out, it’s a fact. But there’s really no big mystery behind why this happens.
Today we're revisiting an interview I gave on the Ecommerce Evolution Podcast by my good friend Brett Curry. We break down what separates eCommerce brands that scale up versus those that plateau.
Brett and I talk about a variety of things, including average order value and lifetime value, and how that directly impacts your ability to scale up. We talk about demand generation versus demand capture: which is "better" and which lends itself to being able to scale. We talk about the roadmap to building a team and scaling up your business, how your role as a CEO changes as you grow, and much, much more.
This is a great conversation with a lot of tips from Brett and me. I hope you enjoy!
- 5:54 Why I’m so passionate about dissecting why some brands scale and others don’t.
- 7:25 The KPIs that separate the businesses that can scale from those that can't.
- 8:47 Demand capture vs. demand generation and which one will allow you to scale.
- 12:20 Factors I look for when evaluating a product’s potential for growth.
- 14:22 How a passionate market can contribute to success.
- 18:32 Why having competitors in your market is a good thing.
- 19:13 Average order value and lifetime value: why they’re important and what to look for if you want to scale.
- 22:17 How to evaluate CPA across different channels and the other metric I recommend examining.
- 24:59 It’s OK if your business doesn’t scale -- and this is why.
- 27:57 Growing your business by expanding your product line.
- 31:49 A true entrepreneur falls in love with their customers, not their product.
- 33:16 Great founders know when to ask for help.
- 34:46 Why business founders need to become experts at their marketing channels before handing over the reins.
- 38:52 How a CEO’s role shifts as the company grows.
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