The eCommerce Money Map Podcast

[00:01 - 03:33] Opening Segment

• Michelle on leaving her dental career to be with her daughter
• What’s it’s like to start an online business with no experience
• Discovering eBay and educating herself about it

[03:33 - 10:06] Reaching Out to a Broader Audience With YouTube

• People are looking for solutions
  • Utilizing the search bar to know about commonly-searched problems
• Best practices in creating and uploading video content
  • Figure out your goals
  • The sweet spot is 7-15 minutes
  • Go directly to the pain point, the first few seconds matter
  • It’s okay to outsource for video production: Upwork, Fiverr, Video Husky
  • Leverage data and insight tools: TubeBuddy and vidIQ

[10:07 - 16:28] Powerful Strategies to Grow Your Business

• Growing too quickly is not advantageous
• What is layered marketing?
  • Focusing on one thing and building upon in it
  • Serving the customer in a way that helps the business
• The importance of knowing your numbers

[16:29 - 18:41] Closing Segment

• Michelle talks about the people she has worked with and helped through her YouTube channel and courses
• Reach out to Michelle!
• Final words

Connect with Michelle! Visit Paladin Global Market’s website and find them on eBay, Facebook, Instagram, LinkedIn, Pinterest, and YouTube. 

Leverage the power of financial data to fuel growth for your eCommerce business, head straight to https://www.esenshi.com/.  

If you’d like to hear more episodes, visit us at https://www.ecommercemoneymap.com/ or on your favorite podcast platform. Don’t forget to like, subscribe, and LEAVE US A 5-STAR REVIEW!

Thanks for tuning in. We’ll see you next time!

Tweetable Quotes

“Jump right into the pain point and answer their question. You hook them in, and then they'll want to know more about who you are once you've solved their problem.” - Michelle Hougland

“We're getting served ads and content continuously like we've never been before. So we have to do things that can help to break through that noise by our keywords and optimizing our video for the search engine results.” - Michelle Hougland

“We can grow big and fast, but we really need to make sure, are we doing the things that behind the scenes are not so fun? Are we doing our accounting?” - Michelle Hougland

[00:01 - 05:54] Opening Segment

• Kosmo shares how hitting rock bottom fueled him to start his company 
• Finding the right balance of flavors to create an award-winning product

[05:55 - 09:21] Letting the World Know About Kosmo’s Q

• Why he stopped joining cookoffs and started running Facebook ads
• Building an eCommerce website with zero experience
• How Kosmo and his team diversified

[09:22 - 21:23] Mindset is Everything

• It’s okay to learn the hard way
• We need to pay ourselves
• Knowing and engaging the customer is key
  • What are downstream, sidestream, and upstream customers?
  • Leveraging online platforms and using YouTube to inform and entertain
• Having a healthy drive
• Living a life of gratitude and without regrets

[21:24 - 22:23] Closing Segment

• Reach out to Kosmo!
• Final words

Connect with Kosmo! Head over to Kosmo’s Q website and YouTube channel to know more about their products. Check out his podcast at KosmoUnfiltered.com and YouTube, and follow him and Kosmo’s Q on Facebook, Instagram, Twitter, Pinterest, and TikTok!

Leverage the power of financial data to fuel growth for your eCommerce business, head straight to https://www.esenshi.com/.  

If you’d like to hear more episodes, visit us at https://www.ecommercemoneymap.com/ or on your favorite podcast platform. Don’t forget to like, subscribe, and LEAVE US A 5-STAR REVIEW!

Thanks for tuning in. We’ll see you next time!

Tweetable Quotes

“The best way to succeed at any goal you have is to understand where the finish line is.” - Darian Kosmo Khosravi

“You will never be better than you are right now if you don't change your standards, period. If your standards remain the same, you will stay exactly the same.” - Darian Kosmo Khosravi

“If you don't want to listen, life will teach you everything you need to know.” - Darian Kosmo Khosravi

[00:01 - 02:33] Opening Segment

• Asher on his background in startups and the work they do at Uncapped
• Uncapped ad the kind of funding he wished had always existed
• The challenges he faced when he was raising capital

[02:34 - 13:57] A Better Funding Alternative

• What type of businesses are they working with at Uncapped? 
• Using a data-driven approach, no need for a pitch or a business plan
• Delivering funding options in about 24 hours
• Having an easy-to-understand legal agreement
• Looking for predictable patterns and considering track records of businesses
• Head over to weareuncapped.com to apply!

[13:58 - 21:45] Building A Successful Business

• Do you even need funding in the first place?
• Embracing rejection
• Creating fire stations instead of putting out fires
• Investing in relationships
• It might not be a funding problem but a people problem

[21:46 - 24:43] Closing Segment

• Check out Uncapped’s exclusive offer and get 50K of funding for FREE! Email Asher at [email protected] with “Secret 50K” as the subject line.
• Final words

Connect with Asher by following him on Instagram, Twitter, and LinkedIn. Know more about fundraising opportunities at the Uncapped website, Facebook, Twitter, and LinkedIn.

Leverage the power of financial data to fuel growth for your eCommerce business, head straight to https://www.esenshi.com/.  

If you’d like to hear more episodes, visit us at https://www.ecommercemoneymap.com/ or on your favorite podcast platform. Don’t forget to like, subscribe, and LEAVE US A 5-STAR REVIEW!

Thanks for tuning in. We’ll see you next time!

Tweetable Quotes

“I just think that for so many entrepreneurs, raising a big round is like the symbol of success as an entrepreneur. But of course, real success is actually building a profitable business even if we don't celebrate that enough.” - Asher Ismail

“I think it's about planning ahead but also expecting rejection. You know, you have to embrace that. Rejection is going to be part of the process and not take it personally.” - Asher Ismail

“A founder's job, I used to think, was about putting out fires and I was running from fire to fire. And now I realize it's actually about building fire stations.” - Asher Ismail

[00:01 - 05:40] Opening Segment

• Kathryn shares her background as a web designer/developer
• Transitioning from employee to entrepreneur
  • The surprises and challenges she faced

[05:41 14:22] What You Need to Know About Shopify

• For business owners: affordability
• For developers: control and accessibility
• How to know if Shopify is the right fit for you
• A feature that every user should utilize in Shopify: native integration

[14:27 - 28:37] Increasing Traffic On Your Site

• Adding any kind of text that provides context to your website
• Email marketing
• Putting return and legal policies
• Paying attention to data and metrics

[28:38 - 25:59] Closing Segment

• eCommerce is not a one size fits all
• Final words

Connect with Kathryn!

Walton Birch website: https://waltonbirch.com/
Facebook: https://www.facebook.com/krsmithconsulting
Instagram: https://instagram.com/krs_consulting
Twitter: https://twitter.com/kathrynrsmith
LinkedIn: https://linkedin.com/in/kathrynrsmith
 

Leverage the power of financial data to fuel growth for your eCommerce business, head straight to https://www.esenshi.com/.  

If you’d like to hear more episodes, visit us at https://www.ecommercemoneymap.com/ or on your favorite podcast platform. Don’t forget to like, subscribe, and LEAVE US A 5-STAR REVIEW!

Thanks for tuning in. We’ll see you next time!

Tweetable Quotes

“Data is actually underutilized in the eCommerce space.” - Kathryn Smith

“Focus on the channels that are bringing the biggest return… For some stores, it's email, some stores, it's social media.” - Kathryn Smith

“eCommerce, like stores, are not one size fits all so definitely evaluate those options out there, whether that be an open-source platform, or whether that be a paid platform like Shopify.” - Kathryn Smith

Chad Maghielse created an eCommerce business, a pet supplies company based on the needs of his 2 adorable but gross French bulldogs Brock & Beast, with just $3,000 and got it to the million-dollar sales run rate in about 12 months.  By donating a portion of the sales, his brand was also able to fund the surgeries of a bunch of pets with cancer which did a lot of good in the world and also exploded the organic reach of the brand.  

He sold the brand for 7 figures 2 and a half years after, took his first sale, and invested the profits well enough that he had been able to semi-retire young and can enjoy a lifestyle of freedom and travel.  Currently, he teaches others how to do the same thing, becoming wealthy and making the world a better place at the same time.  

[00:01 - 06:48] Opening Segment

• Chad shares his motivation for starting an e-commerce brand
• Finding success even if you’re not your target market
• Impactful Charity with Chad

[06:49 - 12:59] How to Make Pet Supplies Stand Out

•  Choose your brand and individual products
• Include heart and personality
• Be hyperspecific, narrow down your audience

[13:00 - 28:37] How to Scale Your 6-Figure Brand into a 7-Figure Brand

• Top 3 Important Numbers in the Business
• Business Shortcut! Begin with the end in mind
• Work above your business: Work on your business, not in your business
• Common Mistakes in ECommerce You Should Avoid
• Check out these books:
  • The 80/20 Principle by Richard Koch
  • The ONE Thing by Gary Keller
  • Proft First by Mike Michalowicz
  • Profit First for Ecommerce Sellers by Mike Michalowicz

[28:38 - 31:44] Closing Segment

Connect with Chad through LinkedIn and Facebook

Leverage the power of financial data to fuel growth for your eCommerce business, head straight to https://www.esenshi.com/.  

If you’d like to hear more episodes, visit us at https://www.ecommercemoneymap.com/ or on your favorite podcast platform. Don’t forget to like, subscribe, and LEAVE US A 5-STAR REVIEW!

Thanks for tuning in. We’ll see you next time!

Resources Mentioned

• Private Label Podcast by Kevin Rizer

Tweetable Quotes

“Other people's success is just proof that you can do it too. It is evidence of your future success.” - Chad Maghielse

“It's more fun to build a business when you are yourself and your target market.” - Chad Maghielse

“If you don't nail down your buyer persona, know, the Who that your brand is serving, you get lost in the ocean of all these competitors.” - Chad Maghielse

It truly is never too early nor too late to talk about your grand “exit.” In this episode of the eCommerce Money Map podcast, Salim is joined by Meny Hoffman from Ptex Group. They exist as the go-to advisors for eCommerce businesses to achieve their dream exit plan and execute it successfully.

Here's more into who Meny is:

Meny is the CEO of Ptex Group, an award-winning marketing agency headquartered in Brooklyn, NY, I work with emergent brands spanning a variety of industries throughout North America, Europe and Israel, to create sophisticated marketing solutions that help clients achieve new milestones in growth. 

He is also the creator of Let’s Talk Business, a periodic email series sent to over 15,000 subscribers, which discusses effective expansion strategies for budding businesses. These dual roles led him to found the LTB Business Summit, lauded by the media as "North America's first business conference for Jewish entrepreneurs." This game-changing movement is helping countless entrepreneurs flourish by providing them with powerful educational tools needed to learn, grow and lead.

If you want to know more about the perfect way to exit, listen throughout the show and take note of Meny’s valuable notes on maximizing your eCommerce business to get ahead of the steps you want to take.

[00:01 - 12:11] Opening Segment

• What led Meny to do this business
  • He saw the good, the bad, and the ugly
• Be proactive in preparing to exit
  • Maximize the value of your business
  • A wake-up call happens to you 
• A healthy and successful business
  • If it concerns buyers, it should concern you
  • Know your numbers!
  • Are you being intentional?

[12:12 - 20:12] Maximizing the heights where your business can go

• Make sure you are organized
• Be honest and transparent with your accountant
• Where is the Amazon eCommerce space leading to
  • Be serious, guys.

[20:13 - 23:51] Closing Segment

• Why Meny wanted to pursue this space
  • He could have done many things, so why?
• Final Words
   

Shoot him an email at [email protected]

Follow him on LinkedIn and visit his website https://letstalkexits.com/

Listen and subscribe to his podcast: Let’s Talk Business
 

If you’d like to hear more episodes, you can find them at www.ecommercemoneymap.com, or on your favorite podcast directory. Don’t forget to like, subscribe, and leave us a review!

If you want to learn more about the eCommerce Accounting Hub, visit www.ecommerceaccountinghub.com

Thanks for tuning in; we’ll see you next time!

 

Tweetable Quotes

"When someone builds a business brand, usually it’s bigger than the business owners themselves.” - Meny Hoffman

"It is never too early to start thinking about your exit plan.” - Meny Hoffman

"Don’t rely just on a bookkeeper who does your bookkeeping or an accountant that does your taxes. Require your accountant to give you some high-level information on a monthly basis that will help you make decisions about where your business is and where your focus should be in the next coming months.” - Meny Hoffman

"eCommerce is still a low barrier to enter, but it’s way more complicated than it was three or five years ago, which means you need to be way more intentional about it, and not treat it just like a side hustle. Treat it as seriously as if you are opening a retail store or any type of business.” - Meny Hoffman

In this episode of the eCommerce Money Map, Salim and Shaw are joined by Dennis Consorte. Dennis is a Startup & Small Business Consultant, Growth Hacker & Digital Marketing Expert. He creates frameworks for better workflow in teams, acquires the right balance of talent to deliver usable products and services.

He also founded a digital marketing agency, DVD rental by mail company and several small ecommerce websites. Launched and fulfilled a successful Kickstarter project. Active in the libertarian movement, among many other remarkable achievements in his career. His expertise and strong eCommerce marketing skills built in the last 20 years made him a top of the line expert looked up to by many in this industry.

If you are interested in eCommerce marketing and how to be a better business owner, listen throughout the episode and keep your ears and mind open. Let’s get started!
 

[00:01 - 06:53] Opening Segment

• What led Dennis to build his digital marketing agency
  • Graduating college was a dreadful path for Dennis
  • Taking a break to figure things out
• Time is money
  • Helping people get to where they should be
  • Deep understanding where clients are coming from

[06:54 - 16:29] Dennis’ wealth of knowledge and experience 

• How is SEO today different compared to 20 years ago
  • Machine learning is a black box
  • What business owners need to invest in
• Building authority & content pipeline 101
  • Don’t try to do everything!

[16:30 - 22:27] More of Dennis’ perspective

• Leverage your skills and network
• Entrepreneurs are the loneliest people in the planet
• An advice to a business who haven’t gone online

[22:28 - 26:57] Closing Segment

• What we should learn from Dennis
• Final Words
   

If you’d like to hear more episodes, you can find them at www.ecommercemoneymap.com, or on your favorite podcast directory. Don’t forget to like, subscribe, and leave us a review!

If you want to learn more about the eCommerce Accounting Hub, visit www.ecommerceaccountinghub.com

If you want to reach out Dennis, follow his socials: LinkedIn, Facebook, and Twitter. Check out his website to learn more about him: https://www.dennisconsorte.com/

Thanks for tuning in; we’ll see you next time!
 

Tweetable Quotes

"I basically took a break for two years just to figure out my next step. It was a very difficult time for me, and what I realized was that: in those last few years at the agency, I lost my sense of purpose. I was so focused on just driving revenue and getting a new client and hiring more people, thinking that that was the answer, but it really wasn’t.” - Dennis Consorte

"I realized that life is short. Everybody in the world today is realizing how short life is and how much time we spend working and why that time should matter. - Dennis Consorte

"We are human beings! We like our ego’s stroked.” - Dennis Consorte

"A business is different from a job.” - Dennis Consorte

In this episode of the eCommerce Money Map, Salim and Shaw are joined by Lesley Hensell from Riverbend Consulting. They help solve critical problems and offer growth strategies for sellers in Amazon, among many other eCommerce platforms.

Here's more into what Lesley does:

Lesley Hensell is a partner with Riverbend Consulting, whose 50+ employees solve critical problems and offer effective growth strategies for sellers on Amazon and other ecommerce platforms. Lesley oversees Riverbend’s client services team. She has personally helped hundreds of third-party sellers get their suspended Amazon accounts and ASINs back up and running. Lesley leverages two decades as a small business consultant and Amazon seller herself to address the underlying business issues in ecommerce operations, resulting in improved efficiency and profitability.

If you are interested in becoming a well-rounded Amazon seller, then this is the episode for you! Let Lesley and the whole of Riverbend Consulting take the burden off of your shoulders. You are not alone in trying to let the world know what you can offer through your products.
 

[00:01 - 02:57] Opening Segment

• The Riverbend Consulting Story
  • Lesley was an Amazon seller for 10 years
  • Deciding to help other people in need
     

[02:58 - 13:48] eCommerce platforms 101

• What you need to know before selling online
  • Amazon cares about their customers
  • Complexity of systems
• 3 things to stop and start doing
  • Remember: Amazon is smarter than you
  • Other platforms are getting smarter too
• Lesley’s pointers on multichannel expansions
• Don’t underestimate these things
  • Pay attention to this!
     

[13:49 - 16:44] Closing Segment

• Final Words
  • Amazon is the biggest incubator for small businesses
  • Do it! Sell what you want to sell. 
• Connect with me and our guest in the links below
   

Tweetable Quotes

"I am one of Amazon’s biggest critics, because my job is helping people fix the problems they have with Amazon.” - Lesley Hensell

"You have to understand that once you are selling as a third party seller on Amazon or anywhere, that the relationship that matters is with each individual customer. Amazon doesn’t care about their sellers, they care about their buyers.” - Lesley Hensell

"You have to know your numbers all the time.” - Lesley Hensell

"If you have your own products to offer, that’s super exciting too, because once again, what we are really looking for at this point in time is: what can I sell that others aren't already selling?” - Lesley Hensell

------------------------------------------------------------------------

If you’d like to hear more episodes, you can find them at www.ecommercemoneymap.com, or on your favorite podcast directory. Don’t forget to like, subscribe, and leave us a review!

If you want to learn more about the eCommerce Accounting Hub, visit www.ecommerceaccountinghub.com

If you want to get a hold of Riverbed Consulting’s services, visit their website https://riverbendconsulting.com/. They have a phone number on the website that you can call. They are more than happy to help you out with your questions and concerns.  

Follow their social media: LinkedIn, Instagram, Facebook, and Twitter.

Want to connect with Lesley? 

Shoot her an email at [email protected] and follow her on LinkedIn

Thanks for tuning in; we’ll see you next time!

In this episode of the eCommerce Money Map, Salim and our guest expounds on one important matter in eCommerce called Sale tax. This is a complicated topic that Salim has seen his clients being confused about. Today, Salim and our guest simplifies this concept so that it may be beneficial for your eCommerce business. If you are interested in Sales tax, then this is the episode for you! Salim’s Sales tax pocket guide is readily available on the website! Don’t forget to check out his website.

[00:01 - 20:18] Opening Segment

• Welcome to the show!
• I introduce the topic for today’s show
• To whom is this episode relevant for

[20:19 - 14:14] eCommerce business owners should pay attention to this

• Why is sales tax important as an eCommerce business 
• Taking away from profit when it should not have
• Brief History and Overview of Nexus
• Economic and Physical Nexus
  • Things we overlook about these matters

[14:15 - 16:36] Closing Segment

• A recap of today’s episode
• Connect with me and our guest in the links below
• Final Words

Tweetable Quotes

"If they don’t collect sales tax, the business becomes liable to pay the tax.” - Salim Omar

"What could have been a $5,000 collected from your customers now becomes a $10,000 cost to your business for not taking sales tax nexus seriously.” - Guest

------------------------------------------------------------------------

If you’d like to hear more episodes, you can find them at www.ecommercemoneymap.com, or on your favorite podcast directory. Don’t forget to like, subscribe, and leave us a review!

If you want to learn more about the eCommerce Accounting Hub, visit www.ecommerceaccountinghub.com

Thanks for tuning in; we’ll see you next time!

In this episode of The eCommerce Money Map, Salim is joined by Ann Sieg, the cofounder of The eCommerce Business School and the author of some of the most widely read books in the world on how to get new customers and prospects to come to you. Together, they discuss steps to growing you eCommerce business, her expertise in customer attraction, and what she believes leads to success within an eCommerce business!

If you’d like to hear more episodes, you can find them at ecommercemoneymap.com, or on your favorite podcast directory. Don’t forget to like, subscribe, and leave us a review!

If you want to learn more about the eCommerce Accounting Hub, visit ecommerceaccountinghub.com

If you want to learn more about Ann Sieg, visit ecommercebusinessschool.com

Thanks for tuning in; we’ll see you next time!