Financial Commandment #1: Your Money, Your Responsibility
In this post you’ll learn: He almost didn’t review his tax return that year....
Podcast | Episode 435
eCommerce Headwinds: Macro Sentiments, Cooling M&A & Operational Challenges
What does the future of eCommerce look like? Fan Bi is the Co-Founder and Co-Owner of TheHedgeHogCompany.com, an eCommerce holding company that acquires and grows brands, and he has a really unique perspective on some of the trends happening in the eCommerce marketplace today—which is what we’re geeking out on in this episode.
Listen in to find out whether the M&A party is coming to an end, what Fan is seeing in his portfolio when it comes to eCommerce, and why it might be another rough year for eCommerce store owners. We also talk about why now is the best time for getting lean and focusing on your branding and story-telling, and Fan shares the mindset shift that allowed him to sleep at night during the rough ride that COVID brought many in eCommerce.
You’ll learn:
- The story behind The Hedgehog Company’s name. (3:40)
- What Fan is seeing in terms of multiples. (6:45)
- What he sees with eCommerce inventories. (18:25)
- Why Fan is bullish on Shopify. (27:35)
- Flipping the switch with a simple mindset shift. (41:20)
Subscribe: iTunes | Stitcher | Amazon
(With your host Andrew Youderian of eCommerceFuel.com and Fan Bi of TheHedgeHogCompany.com)
What Was Mentioned
- Fan Bi: Website | Twitter
- eCommerceFuel Forum
- One Click Upsell – Increase Sales 15%+ with Pre-and Post-purchase Upsells. (On average, Shopify users increase sales 15% immediately after installing the app!)
- A2X – Simplify your bookkeeping, eliminate the guesswork, and automate.
Image by Arek Socha from Pixabay.
Ideas Worth Sharing:
“We’ve gone from bull to bear very, very quickly.” - @lifeofbi Tweet this “It’s still really challenging out there being able to get your product on time and at a reasonable cost.” - @lifeofbi Tweet this “I don’t know anyone starting an eCommerce business today that isn’t using Shopify.” - @lifeofbi Tweet this
Post by Andrew Youderian
Founder and Chief Instigator, eComFuel
Andrew quit an early finance job to sell CB radios online — an admittedly unorthodox career path. It set him on a course to found and sell multiple businesses, host a decade-running podcast, lecture at Harvard Business School and create eComFuel, the leading community for 7- and 8-figure online business owners. Andrew is fascinated with branding, AI, building community, investing and growing meaningful businesses that don't require sacrificing what truly matters.
