The Ecom Show

October is rolling along, and The Ecom Show is staying strong!

For our 21st episode, we welcome SalesGenomics co-founder Matt Panek for a sit-down.

Despite wanting to be a scientist who would one day discover a cure for aging, fate had other plans for Matt. Now he heads an Ecommerce Growth Hacking Agency that works with brands to maximize their potential, eliminate costly inefficiencies, and scale up to become a significant force in the digital marketplace!

Cozy up with a cup of coffee and listen in as Matt and Budai Media’s founder Daniel talk about:

✔️ Holistic business model approaches

✔️ How to scale efficiently scale your ecommerce business up

✔️ Choosing the right time to hire and the best possible people

✔️ The best performing creatives for ecommerce brands

✔️ Learning to crunch the numbers before making a strategy

SalesGenomics brings a holistic approach to every client they take on. What works for one business might not necessarily be the best for another.

Matt’s agency has worked with Facebook Ads, Google Ads, email marketing, SMS, social media influencers, creatives, and they have lots of other tools at their disposal. After screening a potential client and auditing their business, Matt can figure out how to address pressing issues and scale up the company quickly using any of the channels and tools available to his team.

If you have an ecommerce business making 4 or 5 figures per month, what are the best ways to grow your revenue?

Matt says there is no one-size-fits-all approach to this question, but the first thing one should consider is the amount and quality of website traffic. If most of your traffic is organic, you are poised to do well and scale considerably. Focusing on product development, delegating to the right people or agencies, and budgeting the right amount of money to scale up are crucial parts of any ecommerce journey.

Finding the right people for a company is vastly important for any business owner. Matt mentions the two main questions he asks himself when hiring: “Do they have the right attitude to be part of this team?” and “Do they have the aptitude for learning quickly and growing as part of this team?”.

You can even hire an HR representative or a consultant to advise you, or as SalesGenomic calls it, a Head of People and Cultures. Cultivating the right atmosphere for your team to mesh together and bring innovation from every level is key.

The four essential components to making the ultimate creatives are organic, uniqueness, virality, and the principle of direct response. Your ad should look as if it is just an average social media post, so people will let their guard down and willingly look at the advertisement. The creative should also stand out while fitting in, so it remains memorable.

Each advertisement should have the potential to go viral, whether that means it tells a great story, offers helpful information, makes people feel like insiders, or is newsworthy. Finally, you need a strong call to action, ownership benefits, and information on how the product is used to make the ideal ad!

SalesGenomics doesn’t just offer to dive into the data for their clients; they make it a non-negotiable part of their contract.

If you ignore the treasure chest of data at your disposal, you won’t succeed in the ecommerce game. Matt also says it helps that he has started three ecommerce companies to understand how it feels to manage an entire brand. During the height of the COVID-19 pandemic, his company even made 1.6 dollars in 56 days selling face masks!

This fascinating discussion is full to the brim with musings from an ecommerce expert who knows the industry from all angles.

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We are proud to welcome the founder of several companies this week on the 20th episode of The Ecom Show.

From New York City, Kevin Urrutia started as a programmer, moved to Silicon Valley, started several ecommerce businesses, developed his own marketing skills, and now runs a marketing agency and several successful brands!

Gather round and listen in as Budai Media founder Daniel and Voy Media founder Kevin discuss a wide variety of topics like:

✔️ Getting started in ecommerce

✔️ The link between product development and marketing

✔️ Becoming more than a one-product ecommerce store

✔️ Importance of organic marketing strategies

✔️ Learning from your setbacks and failures

It can be tricky in an already saturated online marketplace to get started, but the product is what you should focus on first. Kevin says he came up with his company Chester Travels, just by researching popular keywords on Google.

By letting the market tell him what it wanted, he was able to create a popular luggage company for travelers even though he never considered selling luggage bags before. It is also crucial to have a strategy from the beginning, whether that means Facebook Ads, Amazon listings, or collaborations with social media influencers.

“I used to think that if you made an awesome product, people would somehow find it eventually,” says Kevin.

He now knows this couldn’t be further from the truth. In fact, he has come up with several solid business ideas only to see them fall apart due to a lack of digital marketing strategy. You can have the best product in the world, but you can’t sell a thing if no one knows about it!

Now you can piggyback off marketing and figure out your next product idea based on what other people are searching for, so never before has product development and marketing been so closely linked together.

Most ecommerce brands start out with one tried and tested product. It is so rare to find success if you stay a one-product shop that leans too heavily on your “hero product.” Never stop innovating and questioning how you can improve or make more revenue.

Kevin pitches some great ideas, like creating online content such as classes or loyalty programs, to keep money flowing in. If you can have recurring payments or subscriptions, it’s even better! Remember that Amazon started selling books, and now they have a listing for every object you could possibly imagine!

If you think Facebook Ads or Google Ads will do all the heavy lifting for you from the getgo, think again! Kevin mentions excellent tips like contacting influential bloggers and reviewers to send them your product for review or reaching out to influencers and giving away products in exchange for brand awareness photos (which really come in handy down the line!).

Reviews are the most important thing you can have initially, so start the conversation about your product as early as you can!

Don’t ever be afraid to fail. Kevin started several businesses before he got one to stick, but he learned some valuable information to begin future business endeavors each time.

Experience truly is the best teacher, and that’s how Kevin has learned how to market, what products sell the best, or why you should always have someone working during the holidays in case a website goes down (Don’t lose out on millions in sales during Black Friday Sales!)

If you are looking for an intellectually stimulating interview jampacked with goodies, don’t forget to take in the latest episode of The Ecom Show.

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Charlie joins us from the UK, sharing with us all the most significant secrets of Facebook Ad Strategy, and how you can make or break your ecommerce business.

This week Budai Media founder Daniel and Gecko Squared founder Charlie Lawrance talk about fascinating topics, such as:

✔️ Questions that all ecommerce business owners should ask themselves

✔️ The four temperatures of audiences

✔️ Ad testing and avoiding ad fatigue

✔️ The two most important facets of a great Facebook Ad

✔️ Focusing on brand awareness vs. revenue

Let's dive further into this.

Don’t just dive in without knowing your objective, audience, or budget. These variables are so crucial to consider because you can blow all your hard-earned money without a strategy.

Charlie’s agency, Gecko Squared, has a brilliant quiz for prospective customers to figure out the quality of their website traffic, what part of the funnel they should focus on, and the best strategy for ad spending going forward.

Charlie says that knowing the four possible temperatures of an audience is vital in figuring out what to do next. If you are a small business just starting, chances are you have a cold audience and not much engagement. That’s ok! You can begin from scratch and build brand recognition and pull in customers with “cold ads.”

Suppose you have an engaged audience and website traffic (hot leads) and repeat customers (super hot leads). In that case, you can focus more on retargeting and retention rather than pulling in cold leads like a freshly started ecommerce brand.

Lots of companies get impatient, and they either don’t test their audience out before launching an ad campaign, or they don’t stick with it long enough to get any clear information about how to improve.

Figuring out your target CPA and your budget is crucial, and it is also essential to keep successful ads running until they start to decline. Don’t switch up your ads with new ones until you need to, but be sure to steer clear of ad fatigue by running the same tired ads for more than six months.

The T.O.C.C.O method is an excellent way to remember the five most commonly tested facets of an ad.

Charlie says that having high-quality imagery, videos, and creatives are underrated. You can scale up and spend on ads all you want, if the quality of the copy, images, and videos aren’t right, you’ll waste your money.

Gecko Squared started to make creatives in-house because it realized that an ad’s success was intertwined with the creatives’ quality so that he would rather build the brand image and control everything for better results. Charlie also mentions there is no clear cut best ad type, but carousels, short videos, and clear lifestyle imagery are the best (no more boring images with white backgrounds). The offer is the most critical part of an ad, and without a strong ad, the best creatives can still fail!.

Any marketer knows that they should strike the right balance between focusing on sales and brand awareness. Charlie says it’s all about “putting the right message in front of the right people at the right time!”

Gecko Squared is happy to build brand awareness, but the explicit goal is to have tangible results (money in the bank!).

If you want to talk to the Facebook Ad guru himself, work with his agency, or learn from him on his excellent blog, check Charlie's social media and website below!

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The Peak Performance coach Killian Markert is back again for the second of a two-part episode of The Ecom Show, and our very first live stream video!

Killian and Daniel sit down again to remind us why health, nutrition, sleep, and exercise are so crucial for a productive lifestyle, and what you can do to stay focused. Study up and learn from a genuine expert about:

✔️ Resources for learning what you need to know

✔️ The 4 Degrees of Consistency

✔️ How to effectively manage your time

✔️ Staying focused while you work

✔️ Separation of work and personal life

40 years ago, one would have to walk down to the library, search the archives, hope a book was in stock, and then digest the information in a short time just to learn something. With the rise of the internet, we have more information than we could possibly realize yet we are overwhelmed by the choices and the distractions of the world.

Sitting down and actively studying something you want to learn is hard to do but incredibly rewarding, especially when you can shut out distractions and take notes.

These proven categories were shared by Killian to describe the different stages of consistency that are required to improve yourself. The lowest degree is finding the motivation to do something, which you can rely on only for a short time before you revert back to your normal practices.

You can discipline yourself to reinforce these motivations and stick to a plan, but you won’t find much success until you begin to build habits! These habits don’t happen overnight, they are set in stone after countless repetitions so you can do what you need to without even thinking about it!

The fourth and most powerful degree of consistency is realizing your identity. If you are an athlete, you train because it is part of your identity not because someone is telling you to or because you have to force yourself. It’s just what you do!

Killian asserts that time management is incredibly easy to figure out if you realize the connection between energy and focus. You can have all the energy in the world but if your phone is ringing off the hook, you won’t be able to put that energy to good use.

On the other hand, if you are focused but neglecting your sleep routine and lacking energy, you also won’t get anything done. Killian argues that time management sort of falls into place once you account for energy and focus, although he still opts to use time scheduling to be more efficient!

Respect your work hours, and respect your personal time. Let clients or customers know when they can reach you and when you are not available. Even the most successful business owners cannot succeed when burnt out from exhaustion, and that is guaranteed to happen if you don’t set a boundary between your personal time and your work time.

Killian recommends setting ad blocker software and turning off notifications during the workday to avoid distractions, but he says you should do the opposite for your clients and emails when work is finished. A nice little daily “end of work ritual” is nice to remind you that work is over for the day, giving you peace of mind to enjoy your life.

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This week’s guest has so much helpful knowledge to share, we had to split it up into 2 weeks!

Join us as Budai Media founder Daniel has an eventful chat with Killian Markert, a Peak Performance Coach.

To provide our listeners with a well-rounded assortment of colorful guests from all walks of life, we invited Killian to share with us a bevy of tips about how to improve your health, nutrition, sleep, exercise habits, and more.

Most people are unaware of how profoundly important these essential habits and choices we make on a day-to-day basis really are when it comes to our health and our business. Take a seat, grab a pen and paper, and listen in as Daniel and Killian discus:

✔️The link between health and business

✔️Tips for better sleep

✔️ Nutritional advice for business owners

✔️Staying active to balance yourself out

✔️ Meditation and mindfulness

Think it’s sustainable to eat fast food, get less than 8 hours of sleep, and spend all day sitting down? Killian says think again! There is a reason he is highly successful in his business life because he has realized the crucial link between treating you remind and your body right first and foremost.

Cleaning up your lifestyle and setting simple, micro habits is key to setting long term goals and building motivation!

From how many hours you sleep and how much light is in your room, to your mattress firmness and your sleeping position, sleep is influenced by lots of decisions you make throughout the day.

Killian says that when you wake up, you are already preparing yourself for your next night’s sleep without knowing it. He shares with us some tips on how to choose the best sleeping position, stretching and relaxing before bed, and avoiding working or bright screens too close to bedtime.

Daniel and Killian walk us through several different dietary choices, weighing the pros and cons of things like intermittent fasting. Killian recommends ditching coffee before it becomes an addiction, and instead of using it sparingly when you absolutely need it!

He also stresses the importance of what you put into your body, saying to cut down on refined products and sugar and instead opt for a mostly plant-based diet. You can still eat meat and dairy but aim for making at least 80% of your diet unrefined and plant-based.

Killian likens business owners to athletes, saying it has never been more competitive for business owners ever. We must strive to keep our minds sharp and motivated, and one way of doing this is ensuring we hit the gym or stay active throughout the day.

Even if you hate sports or working out, there is something out there for everyone to stay active like rock climbing or hiking. It’s also important to note that sitting more than standing can negate the gains and positives of working out, so be sure to spend more time on your feet rather than your backside!

Killian says meditating has greatly improved his mindfulness and quality of life. There are lots of ways to meditate, but spending time undistracted and unstimulated is crucial if you want to balance your mind and put your best foot forward throughout the day.

Keep you remind sharp, read books, listen to podcasts before bed, and amaze yourself with the wonders of what just 5-10 minutes of any activity can do for you in the long run!

Tune in for Part 2 of Killian and Daniels chat next week for the next episode of The Ecom Show!

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This week Budai Media founder Daniel sits down with Deividas, a brilliant digital marketer that helped co-found the Sugatan, a leading marketing force in the ecommerce industry!

Although originally hailing from Europe, he now spends most of his time in the Digital Nomad hotspot of Dubai!

Listen in as we talk about:

✔️When you should focus on scaling up your business

✔️ How to hit the next level in monthly revenue

✔️ The most effective channels for online marketing

✔️Developing new products for your ecommerce store

✔️ Ecommerce difference in Europe vs. America

Let's dive deeper on these topics.

Deividas provides some valuable tips for scaling businesses, coming from his experience growing major ecommerce brands to 8-figure giants. He recommends not getting ahead of yourself and being patient in the beginning.

As time progresses, you can start to make changes in how you advertise, who you hire, and how you look through your data. Deividas and Daniel even agree that you should wait until $300 thousand in monthly revenue to expand your marketing from one channel to multiple utilizing Facebook, Google, Youtube, Instagram influencers, and more.

Epic ecommerce brands aren’t built overnight. Deividas describes the different steps it takes to reach certain milestones like $1 million in monthly revenue.

His process is to make a plan for every new revenue tier, and strategically scale up marketing, hire specialists, find new avenues for marketing, and more. You can also afford to buy more expensive tools and spend more money on advertising the more profitable your business becomes!

Digital marketers must get creative when it comes to building brand recognition. Deividas mentions that all ecommerce stores should start right off the bat with email marketing as it is a simple and cost-effective way to begin your growth.

The Sugatan Agency utilizes Facebook Ads and Instagram influencers normally, but they are looking for a third heavy hitter for their lineup. Tik Tok is a rapidly emerging channel to consider for younger audiences, but Deividas prefers to look more into SEO (a great long term investment) and Youtube, although this has proven more difficult to scale.

There is a time and a place to expand your offering of products, but oftentimes people disagree on when you should do so. Deividas suggests only investing in new potential products when you have the available time and cash flow to. Otherwise, it’s best to focus on your main products and scale up accordingly.

If you develop new products in-house like Sugatan’s clients, then it can take a long time for new quality products to hit the market.

One particularly interesting wrinkle discussed this week, is the appeal of the European market. Deividas think that it is a lot less competitive, and you can essentially take what works in America and apply it to Europe which is practically ripe for the taking.

It is more difficult to break the language barrier with so many different countries, but you only need to focus on France, Italy, and Germany for instance to hit that $100 million dollars annual revenue for example.

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Straight out of Athens, Georgia in the United States, we sat down with Will Christensen for a productive and insightful chat about the wonders of automation!

Will is the founder and CEO of DataAutomation, one of the industry’s premier automation experts, and who better to speak with about what should or shouldn’t be automated. Together with Budai Media founder Daniel, this week’s edition of The Ecom Show is a tasty treat for all ecommerce shop owners, entrepreneurs, data nerds, marketers, and quite frankly, anyone else hoping to learn about an often overlooked facet of the business.

Join in on the fun and learn about:

✔️How to communicate with automation experts

✔️ The 15-1-1 litmus test

✔️ Best ways to hire new workers or find a knowledgeable mentor

✔️ Most commonly automated ecommerce tasks

✔️ Who should focus on automation within a company

Let's jump further on the content of this amazing episode!

It is best to figure out 4 different components before you ever hire someone to automate a task. What is the origin, the destination, the transformation process between the two, and finally, the trigger action that sets the automation process in motion? Once you can create a visual guide for what you want to accomplish, it is virtually impossible for a real data automation expert to mess it up.

This fascinating litmus test could be the key to your ecommerce woes. Just taking note of time or labor-intensive tasks can be helpful for you to focus your time elsewhere.

Keep a log of actions that take more than 15 minutes of time per day, or an hour either each week/month so you can identify a way to automate it and free up your time/attention. DataAutomation’s podcast is actually called Automate, Delegate, Eliminate because it is a catchy and handy way to prioritize while organizing your time more effectively.

These days you can essentially automate everything (even copywriting, design, and customer feedback). This doesn’t necessarily mean you should automate everything!

According to Will, the three most commonly automated tasks in ecommerce are order transfers, inventory transfers, and tracking information transfers. He explicitly states that some things can actually cause more harm when automated, like any instance where you can miss out on vital customer feedback. People trust other people more than automated chatbots!.

In any given company, CEO’s normally pushing new innovation or evolution within, but when it comes to automation, Will believes that the people in the trenches should be the ones driving this sort of change. Higher-ups and C-level managers will appreciate the efficiency and initiative, but they also need to make it easier for workers to do this by allocating resources, money, and tools to automate everything possible.

By freeing up money to hire outside agencies or freelancers in Fiverr or Upwork, you can save your company time and money in the long run. If a task passes the 15-1-1 litmus test, it will provide real ROI guaranteed!

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Tune in as Budai Media founder Daniel chats with Rumen Dimitrov, an expert in Shopify Speed and Conversion Rate Optimization!

It’s clear right from the beginning that both Daniel and Rumen are passionate about numbers and data, and they discuss the biggest problems, areas of concern, and solutions for ecommerce store owners to focus on.

Rumen says that lots of people would be shocked at how little even the largest and most successful ecommerce brands focus on their data, and with a little fine-tuning, you can iron out all the kinks and make a successful and profitable sales funnel for your store.

You can also learn more about:

✔️ The Good Clicks vs. Bad Clicks concept

✔️ The difference between leading metrics and lagging metrics

✔️ Shopify Analytics vs Google Analytics

✔️ Trusting the sales funnel and not trying to convert early on

✔️ Listening to your customers

Hit play and enjoy the full episode now!

Daniel and Rumen talk about the misleading numbers associated with conversion rates, and how you can best figure out what is going on because every click is different.

Simply measuring click-through rates alone will never help you gain insight into how your website is functioning, and if you are generating lots of attention but making no sales, you are getting “bad clicks”. You can see this as an opportunity and not a problem, however, and figure out where you are losing people during the process.

Leading metrics are predictive tools used to calculate sales and conversion rates. Generally speaking, leading metrics look forward to future events, while lagging metrics are used to figure out what has already occurred.

Understanding the relationship between your store’s leading and lagging metrics is necessary for success if you want to smooth out any problems and set yourself up for higher conversion rates.

Shopify Analytics and Google Analytics are the two most commonly used tools on the market, and both offer their own features. Shopify’s tool is easier for the average person to figure out, but lacks the tools, filters, and specific details that serious data-driven business owners want.

Google, on the other hand, offers enhanced ecommerce tracking, but can sometimes be overwhelming for people. The sheer offering of tools, metrics, and other data on Google Analytics is why it reigns supreme in the online data marketplace.

Another important tip you can glean from this episode is to not try and convert sales to early. Rumen mentions that it is much better to bring someone to your site, offer them something of value while collecting contact information, and slowly warming them up to your brand.

First-time visitors rarely make a purchase, but building a rapport with them over time can be the best strategy for generating sales down the line. Let them warm up to you and trust your brand instead of pouncing right away!

It may seem obvious, but listening to the customer is actually the best thing you can do as a shop owner. Rumen discusses the many ways you can do that, like checking out customer service inquiries or offering a discount for helpful feedback.

If you have a hypothesis that is based on data or customer feedback, test it! There is a science to optimizing your website shopping experience, and you can even observe friends or family members testing your website to note inconsistencies or bugs that can be avoided.

Both Daniel and Rumen agree it’s best to take the time now to optimize your website rather than waiting until mid-November because Q4 and the winter holidays are fast approaching!

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We are keeping it in-house in this episode as we speak with two of our very own specialists at Budai Media!

Ben is our Senior Account Manager who was a guest for our inaugural episode of The Ecom Show where he spoke to us about life as a digital nomad in Bali and his expertise in ecommerce.

Zsófi is an account manager and an SMS/messenger guru with a knack for learning quickly!

Listen in as Daniel, Ben and Zsófi discuss:

• The unique backgrounds of people working in ecommerce
• Building your own ecommerce store in any niche
• Owning an ecommerce store during the times of COVID-19
• The importance of SMS/Messenger marketing
• Different tools you can use to engage your audience and keep them interested

Both Zsófi and Ben bring their unique skillsets and knowledge to the table and discuss with Budai Media founder Daniel, for a productive and fun learning opportunity that is guaranteed to help you improve your situation.

Both Zsófi and Ben are business owners on their own, having created companies that bring value to customers. Zsófi mentions that she decided to work for her own if she couldn’t find a perfect fit company to work for, and last year she opened her own ecommerce brand in Hungary.

With all the potential struggles and setbacks associated with owning a business, there is nothing like the freedom to do whatever you want, whenever you want, however you want!

With her own fitness niche ecommerce brand up and running and a great deal of success selling the entire inventory of fitness gear, COVID-19 significantly disrupted the supply chain for Zsófi and many other ecommerce shops around the world.

Adapting is a crucial skill for ecommerce owners, and Zsófi explains how she had to secure another supplier to meet the increased demand for fitness products while people were stuck at home and unable to go to the gym.

Ben and Zsófi run us through their favorite companies when it comes to software, and they discuss Octane AI, Recart, SMS Bump, OptinMonster, Facebook Ads, and Klaviyo among other industry-leading tools.

Knowing the pros and cons of all the potential resources you can work with is another key component to figure out when you own your own ecommerce brand.

All of these important strategies revolve around enhancing the customer experience. Zsófi mentions that the most fulfilling part for her in her time as a business owner has been tailoring the experience to be more enjoyable. Carefully designed packaging, responsive customer service, and intelligent marketing strategies are how she succeeds.

Don’t reinvent the wheel, just find something that works and make it your own! Make sure to balance your use of these tools and strategies, and remember that people want to feel like part of something, not like they are being constantly bombarded by campaigns, discounts, and messages about sales!

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Join us as we sit down with Arron Coote, the CEO of BAUSELE, a premier luxury watch brand in all of Australia.

Starting with handmade sign painting and digital printing, Arron began exploring new business ideas. His most successful venture was growing a massive beauty product empire that sold products in over 100 countries and 4000 stores all around the globe.

After selling the company, he moved onto his next big challenge. He was approached by the founder of BAUSELE to leverage his expertise in marketing and business to scale it up while making it a household name. On this episode we talk about:

✔️ Finding your ideal lifestyle without feeling like you are “working”

✔️ Surrounding yourself with the “best-in-class” people

✔️ Starting a business and scaling it up into a global powerhouse

✔️ The challenges of being a CEO for a major brand

✔️ Retail vs. Distribution vs. Ecommerce

Many people are unaware that you can make money while having fun with something you are passionate about at the very same time. Arron mentions that he works every day, yet he never feels like he is working.

It is a joyful experience to build a company from the ground up, to learn from mistakes, and to see the fruits of your labor. Finding something you love to do and figuring out a way to make a living should be a fun challenge, not a daunting task!

It can be terrifying as a business owner to entrust someone with your baby, but delegating to the right people and trusting proven professionals in their field is a massive part of being an entrepreneur. Arron mentions that micro-managing actually stunts the growth of a company.

Finding the best people and giving them the creative freedom to learn, grow, and do their thing is crucial. He also mentions Who: The A Method for Hiring as a fascinating resource for those wondering how to improve their companies by hiring the right people.

There are many different ways to create a business, whether you offer products, services, or some combination of the two. Figure your strategy out early on as well as your target audience, niche, and marketing plan.

Sometimes you have to make difficult decisions, like when Arron and his wife (who also works with him at BAUSELE) decided to offer equity to a beauty niche video blogger on Youtube with 2.5 million subscriptions. Giving away an ownership stake in a company you own shouldn’t be taken lightly, but in this case, it helped massively expand the business for a relatively low price.

Arron mentions the delicate nature of “wading through the passion” of BAUSELE founder Christophe Hoppe, trying to strike a balance that preserves his initial vision and dream, while reaching as many customers as possible.

By rebranding the company and catering more to Australians rather than tourists, Arron and BAUSELE earned the trust of retailers and were rewarded with a 346% boost in sales. Building connections with celebrities, major retailers, and brands like Sydney Opera House have also helped catapult the company onto the world stage.

The single most valuable piece of advice Arron offers us is a tried and true principle to live your life by. Don’t put all of your eggs in one basket.

The recent pandemic is proof that you cannot account for everything that will happen. Retailers got hit hard in the first half of 2020, but ecommerce stores have enjoyed record sales. If there are major computer viruses, on the other hand, that threaten the security of the internet, perhaps it would be the other way around. 

Diversifying your business and how you make money can insulate you from risk and bankruptcy!

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