1. It's usually not worth it. Think about it. If you were making millions of dollars, why would you waste your time trying to create a bunch of competition for yourself? It doesn't make any sense at all. Those guys will try to sell you courses all day long because they realized they can't successfully sell anything except a course promising to make people money.

  2. Yeah that always makes me suspicious also. Some of these people have a bunch of advertisements for their courses but non for the actual e-commerce business and whatnot that they claim to run, which makes me think why would you not in any way present your other main businesses to being in even more sales. Thanks for your opinion :)

  3. The only guy I do recommend checking out is Earnest Epps. I know him personally, and he's legit. Runs about 12 stores, mostly through teams he employs, and he occasionally does courses. I took one of his courses focusing on Google shopping ads, and it saved me about 40% on my average CPC by applying what I learned in that course. At the time I was spending about $20,000 a month on ads, so it was a huge ROI for me.

  4. Last I checked, their minimums were fairly high, around $10,000 a month. Imo, that's a pretty high price to test a platform to see if it's going to produce a return. It's been a hot minute since I looked into it, though.

  5. You just need a Reseller's License, though some states might call it a retail sales license or something similar. I'm not sure what that cost in Florida, but in Missouri it cost me $7 to get the license.

  6. Their account freezes are common and can kill a business if they require that money to survive. It is a super shitty thing to happen and PayPal would be better if they went out of business. Never happened to me but heard enough both online and my circle to avoid them at all costs

  7. Yup. People seem to forget that PayPal is actually a bank, and it's in their best interest, quite literally, to hold money whenever possible for their investment return. Stripe, by contrast, is not a bank, and in the years I've been using them, they only held money once, and that was a brand new business that made $50,000 in sales in its first week, so they held the funds for 8 days and asked for a couple documents to make sure I was legitimate. Not a big deal, and it hasn't happened again with any other business I've run.

  8. Have you thought about forming a referral partnership with an agency that serves niches you don't? I've done that before, and it's been a good way to monetize saying no to a client. For example, I try to build websites with best practice on-site SEO, but I don't do off-site SEO services. For that, I refer to a company I trust, and they give me 10% recurring for the referral if they land the contract. It can add up pretty quickly if you have a handful of companies you refer to, and it requires 5 minutes of work to send an email intro.

  9. No time limit. Some of our products are sold before they even arrive in our warehouse, and some sit on the shelf for a year or more (thankfully very few).

  10. The dropshipping suppliers we are working with actually have integrated it into the cost of the wholesale products (they call it free delivery) and will ship next day delivery.

  11. Nice. That's a big piece of the pie you don't have to worry about. What are some average margins in terms of$ (not %)?

  12. I’d estimate we’d make around £120 average per item, so that’s around 165 USD

  13. Depending on how good you are at getting CAC down and LCV up, those aren't bad numbers imo.

  14. Be ready to invest in the business. My first ecom store was around 20K in expenses before it took off and brought a solid income, and that's doing everything myself from the website to all the social and Google campaigns. 2nd ecom business I'm around 40K invested, and it recently started breaking even, which is huge. I'm building lasting businesses, though, not fly-by-night AliExpress dropshipping stores. Building a real business takes a while, and it requires a lot of time and attention. Be prepared for that.

  15. Check out I used them for an ecommerce swing set business I ran.

  16. There will be something about your competitors that users don't like. I'd sign up as a user asap, hop on their forums, etc., and hunt for their weak areas.

  17. This would be a good idea once their product is launched.

  18. And even if they did steal the idea, they'd execute it differently. I always think of competition shows, like Top Chef or Next Top Model where they have the same task or same ingredients, and everyone does it all differently.

  19. Good job getting a positive ROI running ads yourself, first of all! Most people don't manage to get that, so kudos there. I mean that genuinely; most people spend and spend until they run out of money and give up.

  20. 6-9x roi sounds like a dream to me! DM me your recs if you don't mind!

  21. Great question. I was the only support person for a few years at our company and we only hired another person when the work I was doing in one area required full-time commitment. I literally got to the point of...."hey this work is exponentially piling up and we need to hire someone now." We had way more than 10k users, but we had very, very low support volume because we put a lot of work into making the product user friendly and training on-site administrators to field questions before launching (we're in B2B). FWIW I was doing all the support (all types) and a bunch of other work including marketing, development, product planning etc.

  22. Fantastic response, and that's super helpful. Thank you!

  23. The platform I'm building now has a relatively small market, 20MM ARR tops realistically (~10% market share of a blue ocean market), but it's going to solve a major problem for my family and a bunch of others who deal with the same problem.

  24. No, you said you can negotiate after 100k. I could have negotiated a long time ago, I thought it was 500k last I looked a few years ago.

  25. What country are you in? I'm in the US, and Stripe's regular rate here is 2.9%

  26. Its pretty expensive, up to 5% per transaction. According to their pricing model

  27. 5%? I've only ever paid 2.9%, and I've done ~ a million in transactions with them. Once you exceed 100K in annual Stripe transactions, you can negotiate the rate.

  28. I'm not sure what the issue is, but when I click the link it says Workspace Not Found

  29. I've never had to verify that I own a legitimate business or provide a business license when signing up for a SAAS account. It's typically just name, address, email, credit card number.

  30. I'd assume workers likely have phones on them? I'd use something like Slack.

  31. Try looking for business brokers in your area. They're kinda like real estate agents but for businesses. Get you listed on marketplaces, help negotiate price and terms, etc.

  32. Check out Millennial Assistants. They've got the office right next to me (based in Springfield Missouri) and do great work.

  33. I work with another agency that mostly builds software but needs website/frontend work often enough to need a regular person for it. Their model with team members is almost entirely 1099 contractors. So for me, the contract is actually with my LLC, not me personally. Downside is when I work with them, my services are white labelled under their brand, so I can't list it on my website. Upside is they usually have enough work to keep me as busy as I want to be and the rates are around double a standard "job" doing the same work.

  34. If you are currently selling in-person in GA, which it seems like from your post, you have to register to collect sales tax in GA. If you are located only online and are based in TX, selling products to other states has a whole bunch of guidelines. This is a great article on nexus that might be good for you to read:

  35. Unless you registered with Dun and Bradstreet to get a DUNS number (kinda like a social security number for businesses), despite opening accounts under a "business name," it's still tied to your personal credit, and the business has no credit score of its own.

  36. Gotta be honest, I'll never click a .xyz link. It's the #1 most used TLD for malicious websites.

  37. hmm. fair point. Any objections to the concept or just the TLD?

  38. From what your post describes, that would be an awesome resource. I'd definitely use it.

Leave a Reply

Your email address will not be published. Required fields are marked *