No one ever said that having your own e-commerce business is easy. The reality is that running any type of business is difficult, even online based businesses. To help simplify a complex industry, I’m pleased to announce the launch of The Unstoppable Entrepreneur Podcast.
Throughout this podcast, we’re going to unveil what you can do in order to grow your e-commerce business, providing practical advice that can immediately be applied to your business and helping you avoid common mistakes people make in this industry.
Whether you’re looking to make your first $1,000 in monthly sales or looking to grow from $50,000 to $100,000 per month, we’ll be your guide to reaching your next milestone.
Wait, Who is The Unstoppable Entrepreneur?
What do I know about running an e-commerce store? I’m glad you asked.
I’m Robyn Johnson and I run a team of experienced sellers. We’ve sold over a million dollars on Amazon and hundreds of thousands of dollars on eBay. We even sell items through our own websites.
I’ve already shared my experiences in my book, “The Unlikely Entrepreneur: How I Transformed $100 Into a Seven Figure Business,” along with speaking at several e-commerce conferences. On top of all that, I’ve personally coached hundreds of sellers around the world.
The information you’ll be learning from The Unstoppable Entrepreneur Podcast isn’t theories and ideas. You’ll be learning directly from our experiences – what we’ve seen work and what hasn’t.
We created this podcast as a source of information for leaders and newbies in the e-commerce world to learn actionable advice and valuable information that can be immediately put to use. We’ll dive deep and discuss exactly what your business is missing, and how you can make changes that boost your profitability and improve your inventory turn rate.
My Journey to E-Commerce Business Ownership
Before all this, I worked as a youth minister at a church. I loved my job, but the tangible left a lot to be desired. The pay wasn’t great, but loving my job made it all worth it.
That all changed when my first son became sick after a trip to China. I remember sitting in the hospital, during his second day after his admission, and an administrator came in and said, “I just want you to know where your bill stands for today.” She handed me a bill showing that the amount owed already exceeded $20,000.
It may as well have been $20,000,000. I had no idea how we were going to pay it. Fortunately, insurance covered of it, but it still left us reeling financially. Once we had my daughter, we went from being financially tight to a full on financial struggle.
One day, my car made a funny noise. We didn’t have the money to fix anything. We didn’t know how to increase our income. I literally crawled into bed and pulled the covers over my head. It was the only thing I could think to do at the time.
Fast forward, and I attended one of Dave Ramsay’s live events. On the drive back, while listening to the CD’s from the Financial Peace University, Dave Ramsay talked about a woman who was buying strollers and re-selling them on Craigslist. I thought, “I could do that!”
The next day, we withdrew $100 – a massive sacrifice for us at the time – and we started patrolling garage sales every Friday, Saturday and Sunday morning.
Fast forward even further, and we now have a 2,000 square foot warehouse and a business with multiple employees and contractors that has sold more than a million dollars online.
You Can Begin – or Enhance – Your E-Commerce Business
Everything you’ll be learning from The Unstoppable Entrepreneur Podcast covers how we’ve surpassed every milestone we’ve set. We’ll show you how to get that first $1,000 in sales, then push past the $5,000 plateau and onwards until you’ll achieve your ideal income.
We look forward to being your guide on this exciting journey of owning and operating a profitable e-commerce business.
Advancing to Your Next Level of Growth
After you make your first $1,000 in sales, you’ll have the motivation you need to keep with it. If you’re like me, somewhere in that range is when you’ll have an important realization: I can actually build something from this that supports my family, that supports my life.
That realization will power you on through until you reach a common plateau – $5,000 a month in sales. The reason why this is such a tough plateau to push past is because it requires a shift in perspective. You need to stop viewing yourself as someone who makes money by selling things online, and start viewing yourself as a business owner.
When you look at what you’re doing as a real business, you start looking at a bigger picture than simply selling things online. You start looking at processes and procedures, scalable solutions and inventory management.
Your First Move Once You Reach the $5,000 per Month Plateau
You’ve identified a plateau and you’re ready to shift into the business owner perspective. The very first thing I recommend you do is take a thorough look at your inventory. Specifically, look for commonalities in your present inventory and your recent sales history:
- Look for any items in your inventory that are stale. What didn’t sell as quickly as you thought and is now collecting dust. Are there any common themes found throughout your stale items?
- Look for consistent wins. What did you buy that moved quickly and had a high profit margin? Why did it move quickly? Did you find an excellent niche that didn’t have a lot of seller activity?
Maybe you found something that wasn’t sown into the marketplace and it hit, or maybe you ventured into commodity territory and it sunk. Amazon has covered basketballs and spatulas; they want third party sellers to bring things to market that aren’t readily available.
Creating Processes: Growing from $5,000 to $20,000
Quadrupling your monthly income might seem like an ambitious goal, and it is, but it’s very achievable. Shifting your perspective into that of a business owner means it’s time to start looking at:
- What systems you can create to streamline your process?
- What elements of those systems can you outsource?
- Is it time to start hiring someone else?
A common concern I hear from people when it’s time to outsource or hire someone new is that they can’t afford it. If that’s really true, then you need to look at your margins, because that means you can’t afford to pay yourself a reasonable rate.
The more efficient your business can become, the more you get paid per hour of effort. As a business owner, your time should be worth more than what you’d pay someone to help pack boxes.
Focusing Your Growth on Your Ideal Life
It’s easy to build your business into a prison. I’ve seen it happen all too often. Someone starts an eBay business that does really well, and they’re proud of it, but then they can’t take that sailing trip or make all of their children’s field trips.
As you expand your growth and shift into the mindset of a business owner, keep in mind one question: what kind of income do I need to sustain my life?
Shift into the upper end of the spectrum – what kind of monthly income do you need to take your dream trips and be available for your friends and family? It might be $5,000 per month or $10,000 per month.
Now, we have a number to work with. We have a goal. You can look at exactly how long you want to spend working intensively to reach that goal. Work backwards from this goal and ask, “what do I need to do to generate that amount?”
We, myself and my team, are here to partner with you to help create powerful results in your business. It’s one of the things we love in life. It’s why we created The Unstoppable Entrepreneur Podcast – to help people accomplish great things with their business.
I’m obsessed with Disney, and one of my favorite Walt Disney quotes is, “it’s kind of fun to do the impossible.” We want to help you have fun doing the impossible.
If you want to listen to our podcast you can find us on iTunes and Sticher Radio.