Overcoming Self Doubt And What It Takes To Make 6 Figures In Ecommerce

Looking back, one of the biggest challenges of starting our ecommerce store was the lack of support. For example in 2007… We had no one to talk to. We had no one to share our experiences with. We had no one to compare strategies with. And to make things worse, most people doubted that we would ever be able to replace my wife’s 6 figure income selling handkerchiefs online. Here’s the funny thing about friendship and support. If most of your friends work full time day jobs, then most of them will be skeptical of your chances for success. And there...

Why I Finally Quit My Job And 8 Life Lessons I Learned In The Process

For the past 5 years, I’ve been asked the following question over and over again… Steve, why do you still have a day job? Why do you work when your businesses generate so much money? Well several weeks ago, I finally gave notice at my job. Soon, I will no longer be an engineering director of microprocessor design. Soon, I will be giving up a skill that I’ve studied for as long as I can remember. After working at the same company for 17 years, all of a sudden I’m going to have an extra 32-40 hours free...

The Exact Steps I Took To Increase Conversion Rates 42% For My Online Shop

Redesigning my online store website has been on my “to do” list for a very long time, but I could not get myself to pull the trigger because it was never a priority. Here’s the thing. My conversion rate has always been pretty good (>3%). And my online store has been growing in the double digits every year so why rock the boat? But then I attended a mastermind meeting 3 months ago with a bunch of other ecommerce veterans and decided to bring this up during my turn on the “hotseat”. Hey everyone. I’m thinking about doing...

A Peek Into The Glamorous Life Of A Small Business Owner

Everyone knows that starting and running a small business is glamorous. In the past few weeks alone, I’ve read at least a half a dozen stories ranging from “How I made $1027.53 in a single day!” to “How you can work 4 hours a day and be rich with a small business!”. Clearly, these guys are living the good life. What’s funny is that these business owners never mention how glamorous their lifestyle really is. They don’t mention the power, the freedom and the luxury that comes along with owning a small business. On second...

4 Signs You Are Pricing Your Products Too Low And Leaving Money On The Table

Whether you are selling digital products, physical products, conference tickets or sponsorships, your net profit is largely dependent on the prices you set for your customers. But it’s a difficult thing to get right. If you set your prices too low, you won’t make any profit whereas if you set them too high, you’ll drive customers away. Besides not generating as much revenue, setting your prices too low also has the negative effect of attracting more difficult customers. Anyway I don’t have all the answers, but today I’ll do my best to provide you with some insight based...

6 Strategies To Differentiate Your Online Store From the Competition

The biggest problem that I see with brand new ecommerce entrepreneurs is that they don’t spend enough time figuring out how to differentiate themselves from the competition. They’ll use tools like Jungle Scout or Long Tail Pro to find a profitable niche that’s not that competitive. But then they’ll go out and sell the exact same product as everyone else. People who find good arbitrage opportunities this way will often do well for a short period, but it’s just a matter of time until copycats and competitors eventually eat away at their margins. And because there is no brand recognition...

How To Use Psychology To Increase Sales And Get Customers To Buy More

I really hate getting nickel and dimed, especially when I believe that two items should come packaged together at no additional cost. For example, every time I go to McDonalds and order Chicken McNuggets, I get really annoyed. Back in the good old days, McDonalds used to give you as many packets of sauce as you wanted for free whenever you ordered their Chicken McNuggets. But a while back, they started charging you for extra sauce that exceeded their recommended quota. Today when you order 20 nuggets, you are only allocated 3 packages of sauce. For a...

Underhanded Tactics Evil Amazon Sellers Are Using To Cheat And Get Ahead

Amazon is a cutthroat marketplace which is why most sellers rarely give specifics about their products or talk about their winners in public. In fact Amazon is so competitive that if you have a product that is even mildly successful, you will eventually get piggybacked by multiple sellers if you haven’t been already. Anyway up until this point, I thought that getting piggybacked or hijacked on Amazon was the worst that could happen. But a recent conversation with a fellow Amazon seller opened up my eyes to other insidious activities that are happening on the platform right now. The tactics...
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