Learnings from a million dollars business owner.🤑🤑
Two days ago we were on a zoom call with a business owner based in London. 🎦
He has a ton of business, and one of his business he scaled to over a million dollars all organically and tested some Amazon PPC. He projects crossing 2 million dollars this year.😬
Now comes Covid 19 and Amazon refuses to take up his stock because of supply issues. 🤯😱
So this is a million dollar brand, not making any sales in 3 months. This was an eye opener for him. He suddenly realised all his data, customer emails, everything is Amazon's. 😑☹
That's when he decided to drive more traffic to his online platforms and own the traffic he gets.🤩
In retrospect we were doing a showing him the case study of our clients that did $300K plus during the same time, with a ROAS of 50X plus.😇🤑
That's 5000% return, over 50 dollar made on each dollar spent.🤯🤯
Crazy right? 😀
So if you are an ecommerce business owner, two learning from this millionaire would be
1️⃣ Always own your traffic. Because of all the organic sales,had over the years generated and email list of 13000+ people. That's a good amount of data. Imagine if we were running ads to this.
2️⃣ Focus on multiple channels. Just advertising on one platform is leaving money on the table, and in the long run hurts.
Millionaires can make mistakes as well. Don't feel comfortable with just one income stream. Buffet has 93( I have heard this, felt cool so added )