2022 Year-end Review of Our eCommerce Businesses

 Join the conversation with David and Ken as they look back on what has happened in 2022. They will share their thoughts about what went right (and wrong) for them in 2022, from business expansion to finding the right people to work with.They will also be sharing their own experiences from this past year, including how they’ve grown as business owners and what they plan on doing differently in 2023.[00:01 - 04:22] Opening SegmentAmazon's business has been doing well post Covid with ordering things online becoming the new normalA tighter competition in the market can also be observedDavid & Ken decided that international expansion is the best way to grow[0:23 - 12:25] Developing An Entrepreneurial MindsetThe challenges that come with expansionInventory Foreign exchangesThe big thing that they did in 2022AdvertisingFocused on TACOSBrought PPC inhouseEmail marketingHear Ken’s tip if you’re doing email marketingOpened two manufacturing facilities[19:51 - 26:48] Big Wins and Huge LossesDifferentiate your product from the competitors by manufacturing your ownSpeed to marketMonitor your qualityA warehouse that stores your productsCheck out episode 124: Stories and Lessons Learned from Self ManufacturingThe duo hired 25 employees throughout 2022. See relevant episodes: 138&139Building a Team - From 1 to 20 Employees in 18 months part 1Building a Team - From 1 to 20 Employees in 18 months part 2Want some Amazon refunds? Check out GETIDAPromo code: FTM400We got sued! Learn about this story in episode 145: We Got Served! And Sued… Learn How We Avoided TrialFocused on profitabilityFocused on pricingCutaway unused subscriptions and unnecessary spendingImplemented process for inventory managementImplemented Entrepreneurial Operating system from the book Traction[26:49 - 32:13] Closing SegmentWhat’s on the roadmap for 2023?Focus on product launch machineIncreased engagement with customersDon’t forget to reflect on your wins.Quotes: “That's business, give the people what they want.” - David“If there's a barrier to entry, there's not going to be many people that get inside, they're not going to go, you're not going to figure out how to go over the barrier around the barrier.” - Ken Send us a voice message and let us know how we can help you fire the man! Facebook, YouTube, Instagram Resources MentionedGETIDATraction by Gino Wickman - Get a Grip on Your BusinessEmail us at [email protected] us a review as it helps the show!