1 00:00:03,996 --> 00:00:08,416 If you are like me, then somewhere in your digital ecosystem is a 2 00:00:08,416 --> 00:00:14,256 folder called Great Ideas, and that folder has a layer of digital dust 3 00:00:14,256 --> 00:00:16,496 on it because it is rarely opened. 4 00:00:17,166 --> 00:00:22,756 Right after recording hundreds of episodes of the e-Commerce podcast, having 5 00:00:22,986 --> 00:00:28,956 interviewed some incredible experts in their field, having coached companies 6 00:00:29,456 --> 00:00:34,996 all around the world, and if I'm totally honest, taking a really long look at the 7 00:00:34,996 --> 00:00:41,006 mirror myself, there is the same repeating mistake we all seem to be making. 8 00:00:42,316 --> 00:00:42,806 That is, 9 00:00:43,266 --> 00:00:46,446 we rarely put into practice what we have learned. 10 00:00:47,146 --> 00:00:48,206 So I want to talk about 11 00:00:48,206 --> 00:00:51,886 that today and I want to dig into it and share some changes that 12 00:00:51,886 --> 00:00:55,806 are also happening, uh, here on e-Commerce Podcast to help us all 13 00:00:55,826 --> 00:00:57,686 become better at implementing. 14 00:00:58,386 --> 00:01:02,206 Of course, if you are already perfect implementation, this show 15 00:01:02,456 --> 00:01:04,486 might not be for you, in which case. 16 00:01:05,261 --> 00:01:09,351 Come and be my guest and share your insights because I would 17 00:01:09,501 --> 00:01:11,351 genuinely love to hear them. 18 00:01:12,091 --> 00:01:16,391 But if you are like me, then you probably struggle in this area, right? 19 00:01:16,821 --> 00:01:20,111 Just last week I sat there interviewing this brilliant expert 20 00:01:20,121 --> 00:01:22,031 about conversion optimization. 21 00:01:22,541 --> 00:01:26,111 Fantastic person really knew their stuff. 22 00:01:27,236 --> 00:01:31,096 But partway through the conversation, they start talking about post-purchase 23 00:01:31,376 --> 00:01:33,616 sequences and how critical they are for customer retention. 24 00:01:34,036 --> 00:01:36,896 And I'm nodding along because I'm really fascinated, I'm 25 00:01:36,896 --> 00:01:37,856 making all the right noises. 26 00:01:37,916 --> 00:01:43,576 I'm writing notes in my notebook, I'm asking follow-up questions, but 27 00:01:43,576 --> 00:01:47,216 it struck me in my mind, you know, I'm, I sort of thought to myself. 28 00:01:47,821 --> 00:01:52,191 Well, this is exactly what, uh, a guest told me three years ago and 29 00:01:52,191 --> 00:01:57,711 what another guest mentioned last month and what that 2000 pound course 30 00:01:58,231 --> 00:02:00,271 I bought covered in module four. 31 00:02:00,911 --> 00:02:05,516 Right, and I don't think I'm the only 1:00 AM I, if you look at the 32 00:02:05,526 --> 00:02:09,756 stats for online courses, and let's face it, there are more courses than 33 00:02:09,776 --> 00:02:12,156 we could possibly need right now. 34 00:02:12,736 --> 00:02:19,076 Uh, between two and 8% of original starters, realistically both finish 35 00:02:19,896 --> 00:02:22,836 and puts the knowledge into practice. 36 00:02:23,781 --> 00:02:26,001 That's a low percentage, but that's me. 37 00:02:26,011 --> 00:02:26,361 Right? 38 00:02:26,781 --> 00:02:29,321 And I've interviewed the experts, hundreds of them. 39 00:02:29,671 --> 00:02:32,361 I've made pages and pages and pages of notes. 40 00:02:32,941 --> 00:02:36,121 Uh, I've downloaded every single framework, every 41 00:02:36,441 --> 00:02:37,401 template, every checklist. 42 00:02:38,181 --> 00:02:44,241 But the reality of it is I've probably implemented about 5% of what I've learned. 43 00:02:45,391 --> 00:02:47,241 5%. That's it. 44 00:02:47,581 --> 00:02:48,841 And if you're honest with yourself. 45 00:02:49,921 --> 00:02:53,041 I bet your number isn't that much higher and you know, I could sit here 46 00:02:53,041 --> 00:02:54,681 and justify we're all busy people. 47 00:02:55,301 --> 00:02:58,561 Uh, we've all got stuff to do and I think we're all drowning 48 00:02:58,561 --> 00:02:59,961 in good advice, aren't we? 49 00:02:59,961 --> 00:03:05,341 While our businesses stay exactly the same, the e-commerce industry has 50 00:03:05,341 --> 00:03:10,501 become this sort of echo chamber of surface level tips and recycled wisdom. 51 00:03:10,681 --> 00:03:15,021 You know, the things, I mean, the sort of five ways to boost conversions. 52 00:03:16,236 --> 00:03:17,856 The secret to Facebook ads. 53 00:03:18,056 --> 00:03:20,496 I dunno how many secrets there are to Facebook ads, but there's 54 00:03:20,496 --> 00:03:23,056 millions of people telling me that they found the secret to it. 55 00:03:23,646 --> 00:03:25,256 There's a lot of secrets, right? 56 00:03:25,636 --> 00:03:29,976 Um, and my personal favorite is the how This founder went from zero to hero in, 57 00:03:30,736 --> 00:03:33,796 you know, some crazy amount of time, like 30 days or something like that. 58 00:03:34,576 --> 00:03:39,316 But no one seems to be talking about the real problem, which I think is 59 00:03:39,906 --> 00:03:42,836 well simply this knowing what to do. 60 00:03:44,506 --> 00:03:45,646 That's never been easier. 61 00:03:46,286 --> 00:03:50,966 I mean, just think about what you have access to now, the internet and with 62 00:03:51,186 --> 00:03:54,726 ai, I mean, the stuff that you can find out within a matter of seconds 63 00:03:54,726 --> 00:03:55,986 is mind boggling. 64 00:03:56,606 --> 00:04:02,990 So knowing what to do has never been easier actually doing it well. 65 00:04:02,990 --> 00:04:05,070 That's where things come unstuck. 66 00:04:06,420 --> 00:04:06,760 You know, 67 00:04:06,920 --> 00:04:12,600 I started the e-commerce podcast back in 2019 and I actually started with 68 00:04:12,600 --> 00:04:16,400 these sort of solo episodes where I had no guests, no interviews, just me 69 00:04:16,400 --> 00:04:18,280 and a microphone, a bit like this one. 70 00:04:18,280 --> 00:04:22,040 And yes, it is a little different if you're a regular to the show, um, you 71 00:04:22,040 --> 00:04:24,800 can still listen to those original ones, and I know a lot of you do. 72 00:04:24,880 --> 00:04:25,720 I, I know a lot of. 73 00:04:26,065 --> 00:04:29,845 People who go back like five, six years in the archives determined 74 00:04:29,845 --> 00:04:31,645 to listen to all of the episodes. 75 00:04:31,905 --> 00:04:33,445 And I take my hat off to you. 76 00:04:33,765 --> 00:04:34,445 I really do. 77 00:04:34,445 --> 00:04:36,125 That's a lot of episodes to listen to. 78 00:04:36,865 --> 00:04:41,325 Um, I, I think the, the early ones are a little bit cringe if I listen to them now. 79 00:04:41,745 --> 00:04:46,895 Not because necessarily the content was wrong, but because, well, I dunno 80 00:04:46,895 --> 00:04:49,815 if you've ever heard a recording of yourself from years ago, it can 81 00:04:49,815 --> 00:04:51,695 be a slightly painful experience. 82 00:04:51,695 --> 00:04:51,855 Right. 83 00:04:53,225 --> 00:04:57,305 I had all of this knowledge from running my own eCommerce businesses, from the 84 00:04:57,625 --> 00:05:02,345 coaching that I'd been doing, but I, I think I've learned a lot over the recent 85 00:05:02,345 --> 00:05:06,465 years in terms of how to communicate those better, more effectively. 86 00:05:07,385 --> 00:05:11,345 I just, the way I did them was I just sit down, you know, with a 87 00:05:11,345 --> 00:05:13,265 rough idea and to start talking. 88 00:05:13,685 --> 00:05:15,505 No structure, no stories, just. 89 00:05:16,260 --> 00:05:17,745 Really an information dump. 90 00:05:18,685 --> 00:05:21,945 And, uh, so I did what any self-respect in Britt would do when 91 00:05:21,945 --> 00:05:23,625 faced with potential embarrassment. 92 00:05:24,245 --> 00:05:26,665 Um, I got other people to share their expertise. 93 00:05:27,525 --> 00:05:28,745 That's exactly what I did. 94 00:05:29,105 --> 00:05:33,225 I pivoted to interviews and I learned how to ask questions and how, uh, 95 00:05:34,325 --> 00:05:36,385 and just dig to dig into things. 96 00:05:36,765 --> 00:05:38,305 And you know what, for me it was brilliant. 97 00:05:38,365 --> 00:05:39,465 Um, the show grew. 98 00:05:39,565 --> 00:05:41,465 We built this amazing audience. 99 00:05:42,400 --> 00:05:45,720 I learned from the absolute best in the business. 100 00:05:45,740 --> 00:05:48,680 And if you've been a guest on the show, I really appreciate you guys coming on 101 00:05:48,680 --> 00:05:51,200 and sharing your knowledge and insight. 102 00:05:51,910 --> 00:05:57,640 It's much easier to ask questions than to answer them in so many ways, but, 103 00:05:57,640 --> 00:05:59,760 you know, something was missing for me. 104 00:06:00,100 --> 00:06:03,040 Um, so when we've been thinking about e-Commerce podcast and, 105 00:06:03,060 --> 00:06:04,440 and going over it in our minds. 106 00:06:05,885 --> 00:06:07,965 I just wondered whether we needed to change a little bit. 107 00:06:08,145 --> 00:06:11,205 You see, every interview taught me something new, but it also 108 00:06:11,205 --> 00:06:13,365 highlighted the same pattern. 109 00:06:14,425 --> 00:06:17,485 We talk about these game changing strategies and 110 00:06:17,485 --> 00:06:18,765 listeners would get excited. 111 00:06:18,905 --> 00:06:21,245 You know, we would all make notes and I know this because you 112 00:06:21,245 --> 00:06:22,685 write in and you tell me, right? 113 00:06:23,305 --> 00:06:27,045 Um, but then what changes as a result of that? 114 00:06:27,325 --> 00:06:31,405 I get the occasional story of things that change, but not lots, because on average, 115 00:06:32,115 --> 00:06:34,925 5% implementation seems to be about. 116 00:06:35,645 --> 00:06:36,715 Where everybody's at. 117 00:06:37,950 --> 00:06:42,410 So you take the example of learning about Instagram marketing from an expert. 118 00:06:42,410 --> 00:06:48,050 Well, that's one thing, but figuring out how to actually implement what they 119 00:06:48,050 --> 00:06:51,610 have said, the lessons they've given in, into your sort of specific business. 120 00:06:52,120 --> 00:06:55,850 When you're already working 60 hours a week and you've got inventory issues, 121 00:06:55,850 --> 00:06:58,570 you've got, you know, supplier issues, they've just raised the prices. 122 00:07:00,010 --> 00:07:00,860 It's hard, isn't it? 123 00:07:00,860 --> 00:07:01,620 It's hard to implement. 124 00:07:01,620 --> 00:07:03,620 It's hard to figure out specifically for your business. 125 00:07:05,605 --> 00:07:08,825 And I wonder if part of the problem is that most of the 126 00:07:08,825 --> 00:07:13,145 content out there is created by people that have actually not been 127 00:07:13,365 --> 00:07:14,345 in the trenches. 128 00:07:14,575 --> 00:07:18,145 They share theory, but they do not share scars. 129 00:07:18,615 --> 00:07:19,985 Well, if you are 130 00:07:19,985 --> 00:07:23,705 an E-commerce, like I'm, if you are an eCommercer like I am, I love that word. 131 00:07:24,125 --> 00:07:24,345 Um. 132 00:07:25,100 --> 00:07:26,305 Then you're gonna have scars. 133 00:07:26,645 --> 00:07:27,345 You've got them. 134 00:07:27,615 --> 00:07:28,185 I've got them. 135 00:07:28,745 --> 00:07:29,265 I even have 136 00:07:29,265 --> 00:07:32,305 what I call my $38 million scar, which was 137 00:07:32,305 --> 00:07:34,225 created about 10 years ago. 138 00:07:34,765 --> 00:07:36,985 Uh, we had this online business. 139 00:07:36,985 --> 00:07:38,505 It was doing about 6 million a year. 140 00:07:39,235 --> 00:07:40,655 It was a good business, solid growth. 141 00:07:40,655 --> 00:07:41,535 Everything was working. 142 00:07:42,115 --> 00:07:44,335 But within months, revenue had halved. 143 00:07:44,355 --> 00:07:48,535 And after a few months beyond that, before the end of the financial year, 144 00:07:48,535 --> 00:07:50,015 we were down to about a million a year. 145 00:07:50,115 --> 00:07:51,895 We lost 5 million a year in sales. 146 00:07:53,055 --> 00:07:54,075 So what happened? 147 00:07:54,455 --> 00:07:55,355 Why did we do that? 148 00:07:55,785 --> 00:08:00,315 Well, there's lots of reasons, but one of them was we had a ca catastrophic, that's 149 00:08:00,315 --> 00:08:04,395 not an easy word to say, a catastrophic relationship with a key supplier. 150 00:08:04,575 --> 00:08:05,915 It totally went sideways. 151 00:08:06,865 --> 00:08:12,075 They instituted what I call a more you buy, the more you pay policy, which 152 00:08:12,235 --> 00:08:17,395 I appreciate is the complete opposite of how many businesses normally work. 153 00:08:18,250 --> 00:08:19,150 That's what happened. 154 00:08:19,970 --> 00:08:22,390 We were completely blindsided. 155 00:08:22,580 --> 00:08:24,270 There's no doubt about it, right? 156 00:08:24,540 --> 00:08:28,150 Overnight, our entire business model built on volume, discounting 157 00:08:28,150 --> 00:08:29,830 and efficiency became obsolete. 158 00:08:29,960 --> 00:08:33,470 Everything we knew about scaling, about growth, about business 159 00:08:33,750 --> 00:08:36,630 economics, they didn't help me one bit. 160 00:08:37,130 --> 00:08:42,070 We had to relearn almost everything, and that's why I call it my 161 00:08:42,070 --> 00:08:44,790 $38 million mistake because. 162 00:08:45,820 --> 00:08:48,400 If I'm honest with you, I think that's how much we lost in sales 163 00:08:48,470 --> 00:08:52,320 over the years because of what happened with that supplier. 164 00:08:54,280 --> 00:08:58,180 And one of the things that I learned the hard way through that whole 165 00:08:58,230 --> 00:09:02,580 experience was that real business isn't about collecting tips and tricks. 166 00:09:02,610 --> 00:09:03,340 It's not about 167 00:09:03,340 --> 00:09:07,220 having the first back, uh, the, the perfect get my words right. 168 00:09:07,370 --> 00:09:10,060 It's not about having the perfect Facebook ad strategy 169 00:09:10,320 --> 00:09:12,140 or the ultimate email sequence. 170 00:09:12,955 --> 00:09:16,805 It's about building systems that can survive when everything else goes wrong. 171 00:09:17,395 --> 00:09:22,085 It's about taking action even when you don't have perfect information. 172 00:09:23,185 --> 00:09:23,765 In other words, 173 00:09:23,995 --> 00:09:26,925 it's about implementation, not inspiration. 174 00:09:28,245 --> 00:09:29,385 So here's what's 175 00:09:29,625 --> 00:09:31,705 changing on the e-commerce podcast. 176 00:09:32,045 --> 00:09:34,505 Let me bring you up to speed with some of the things that are going on. 177 00:09:34,555 --> 00:09:36,185 First, I am bringing back. 178 00:09:37,020 --> 00:09:38,760 Uh, solo episodes. 179 00:09:38,790 --> 00:09:42,080 Hopefully not the, you know, the cringe-worthy earlier 180 00:09:42,160 --> 00:09:43,360 episodes that we did. 181 00:09:43,740 --> 00:09:45,640 Uh, hopefully these are gonna be different. 182 00:09:45,640 --> 00:09:47,560 They're gonna be shorter and sharper. 183 00:09:47,980 --> 00:09:51,000 Uh, about 20 minutes, uh, in length. 184 00:09:51,020 --> 00:09:55,560 And we're gonna look at specific challenges during those 20 minutes 185 00:09:55,560 --> 00:09:59,280 because if I'm honest with you, after 20 minutes of just me. 186 00:10:00,025 --> 00:10:02,535 Steve and I get bored with the sound of my own voice. 187 00:10:02,675 --> 00:10:05,735 And so I really, and I really like the sound of my own voice. 188 00:10:06,075 --> 00:10:09,935 Uh, anyway, 20 minutes is what we're aiming for. 189 00:10:10,435 --> 00:10:12,975 Uh, it doesn't mean that we're not gonna be bringing the expert 190 00:10:12,975 --> 00:10:15,695 interviews, we're still doing those, which is what the show was founded on. 191 00:10:15,955 --> 00:10:18,455 And also we're doing more founder episodes as well. 192 00:10:18,555 --> 00:10:20,575 So we're gonna have three episode types. 193 00:10:20,645 --> 00:10:24,815 This, these, we call them internally the solo episodes, which is me talking about I 194 00:10:24,815 --> 00:10:26,015 need to come up with a better name really. 195 00:10:26,545 --> 00:10:29,325 If you have any ideas, do let me know, but this is where I'm gonna 196 00:10:29,325 --> 00:10:31,965 talk about e-commerce as I see it, share some stories and stuff. 197 00:10:32,255 --> 00:10:35,325 We're gonna have the expert, uh, interviews, which is what we've been 198 00:10:35,325 --> 00:10:38,885 doing, where we bring in experts in their field and we are also 199 00:10:38,885 --> 00:10:40,685 gonna have the founder episodes. 200 00:10:41,595 --> 00:10:42,495 Uh, why am I doing this? 201 00:10:42,495 --> 00:10:46,535 Well, let me tell you, there is no hidden agenda, uh, total transparency, 202 00:10:46,915 --> 00:10:50,415 you know, when experts come on the show, um, they're amazing. 203 00:10:50,465 --> 00:10:51,095 Don't get me wrong. 204 00:10:51,175 --> 00:10:53,695 I think they're brilliant and I, I, I love what they're doing 205 00:10:53,695 --> 00:10:55,375 and I love talking to them, but. 206 00:10:56,260 --> 00:10:59,470 They are also promoting something more often than not, right. 207 00:10:59,470 --> 00:11:03,550 Their agency, their software, their course, um, that's the 208 00:11:03,550 --> 00:11:04,910 deal and that's fine with me. 209 00:11:04,910 --> 00:11:07,270 They come on the show, we talk about a specific area. 210 00:11:07,650 --> 00:11:12,070 If they deliver value, there's a chance you may sign up to their services or at 211 00:11:12,070 --> 00:11:13,350 least connect with 'em and find out more. 212 00:11:13,400 --> 00:11:13,750 Right? 213 00:11:14,350 --> 00:11:14,870 I get that. 214 00:11:15,690 --> 00:11:19,010 But these solo episodes, I didn't want any of that. 215 00:11:19,130 --> 00:11:21,370 I just wanted sort of pure, unfiltered. 216 00:11:22,110 --> 00:11:23,310 Conversation really. 217 00:11:23,890 --> 00:11:28,350 Um, just from the stuff that I'm doing every day, uh, and 218 00:11:28,590 --> 00:11:29,950 learning about e-commerce. 219 00:11:31,335 --> 00:11:36,035 So we're gonna be talking about real implementation, uh, not just what works, 220 00:11:36,575 --> 00:11:41,315 but asking and digging in, like how do we make this work for our specific business. 221 00:11:42,175 --> 00:11:45,515 Um, so hopefully we'll bring you some stories from the trenches, uh, 222 00:11:45,535 --> 00:11:48,035 you know, what we're actually doing in our own business and with our 223 00:11:48,185 --> 00:11:51,435 clients, what we've been doing with our acquisitions and all that sort of stuff. 224 00:11:52,045 --> 00:11:55,945 Um, and if you've been listening to the show, you'll have heard me 225 00:11:56,265 --> 00:11:59,065 recently talk about e-commerce cohorts. 226 00:11:59,605 --> 00:12:03,825 We used to have an e-commerce cohort where people paid to be a member, 227 00:12:03,845 --> 00:12:05,225 and that was great and I loved it. 228 00:12:05,325 --> 00:12:09,385 And you listen to the show, we're gonna release some of the content from cohorts. 229 00:12:10,480 --> 00:12:13,810 From the paid cohorts onto the e-commerce podcast, we're gonna 230 00:12:13,810 --> 00:12:15,010 make those available for free. 231 00:12:15,320 --> 00:12:17,290 Because cohort, we have changed it. 232 00:12:17,290 --> 00:12:19,410 We're no longer charging for the cohort memberships. 233 00:12:19,830 --> 00:12:22,770 Uh, the cohort now is, uh, free. 234 00:12:23,110 --> 00:12:27,730 So free membership groups, uh, where you can work alongside other entrepreneurs to 235 00:12:28,010 --> 00:12:31,450 actually implement what you are learning to learn from your peers, your e-commerce 236 00:12:31,500 --> 00:12:36,810 peers, and share stories and share scars because there's a truth, right? 237 00:12:37,965 --> 00:12:42,255 That we can, we can just spend all our time learning, can't we? 238 00:12:42,395 --> 00:12:44,135 You can listen to a thousand podcasts. 239 00:12:44,135 --> 00:12:46,815 I know this 'cause I'm an avid podcast, podcast listener. 240 00:12:47,095 --> 00:12:50,535 I love listening to podcasts, but listening to a thousand podcasts 241 00:12:50,535 --> 00:12:56,095 is not the same as working through 10 ideas with my peers who get it. 242 00:12:57,015 --> 00:12:59,455 'cause guess which one actually moves the needle. 243 00:12:59,465 --> 00:13:01,255 Which one moves your business forward? 244 00:13:02,235 --> 00:13:05,135 Um, I, you know, one cohort member recently just shared 245 00:13:05,135 --> 00:13:05,975 with me that they, um. 246 00:13:06,970 --> 00:13:10,900 They went from working two days a week on their business, their econ 247 00:13:11,100 --> 00:13:12,100 business, to three days a week. 248 00:13:12,640 --> 00:13:16,580 Not because of some magical tactic, but because, you know, working with 249 00:13:16,580 --> 00:13:19,900 others gave them the confidence and the clarity to take that leap. 250 00:13:20,640 --> 00:13:25,300 Now sure, it's not the, well, I joined cohort and I went from zero 251 00:13:25,400 --> 00:13:30,470 to a million in 30 days, but you know what I'm, I'm grateful about that 252 00:13:30,470 --> 00:13:32,630 because that story I think applies to. 253 00:13:33,695 --> 00:13:39,955 Wow, what 0.0, 0, 0 0 1% of our listeners maybe. 254 00:13:42,095 --> 00:13:42,675 But you know what? 255 00:13:42,675 --> 00:13:46,235 Getting the opportunity to reduce your part-time job to work more on 256 00:13:46,235 --> 00:13:49,835 your e-commerce business, I think that applies to thousands more. 257 00:13:50,195 --> 00:13:51,155 I genuinely do. 258 00:13:51,655 --> 00:13:54,035 So we're gonna be talking about stuff that actually matters to all of us. 259 00:13:54,335 --> 00:13:59,555 Now let me be completely transparent about why I'm doing this because, uh, 260 00:13:59,615 --> 00:14:01,235 one, I just wanna be transparent and two. 261 00:14:02,115 --> 00:14:03,395 I just wanna be transparent, right? 262 00:14:03,395 --> 00:14:04,715 It's always a good thing, isn't it? 263 00:14:05,215 --> 00:14:08,385 Um, why am I doing this? 264 00:14:09,675 --> 00:14:13,365 Well, the podcast helps me grow my business. 265 00:14:13,565 --> 00:14:16,165 I mean, it's an obvious statement to make, but it genuinely does. 266 00:14:16,165 --> 00:14:20,765 When we first started the podcast back in 2019, it started as a passion project. 267 00:14:21,045 --> 00:14:24,125 I just wanted to do it just to see where it went really and see what happened. 268 00:14:24,205 --> 00:14:25,125 I had no strategy. 269 00:14:25,825 --> 00:14:29,125 Um, it's not like now where we help other people set up podcasts 'cause 270 00:14:29,125 --> 00:14:30,165 of all the stuff that we've learned. 271 00:14:30,665 --> 00:14:30,885 Um. 272 00:14:31,880 --> 00:14:32,680 I had a strategy. 273 00:14:33,280 --> 00:14:34,040 I had no strategy. 274 00:14:34,060 --> 00:14:35,120 We just had a microphone. 275 00:14:35,150 --> 00:14:36,360 That was about it really. 276 00:14:37,140 --> 00:14:40,880 But over the years, over the 20 years, we've built, you know, 277 00:14:41,280 --> 00:14:44,760 multiple seven figure operations and a portion of that success. 278 00:14:45,910 --> 00:14:50,650 Has come from relationships I've established through podcasting right now. 279 00:14:50,720 --> 00:14:56,610 When I give value freely, I meet some amazing people. 280 00:14:57,240 --> 00:15:02,410 Some of those people then become clients, and some of those also become partners. 281 00:15:02,860 --> 00:15:06,210 We've even acquired businesses through connections made here. 282 00:15:06,720 --> 00:15:10,410 Just recently, we took an equity stake and partnered with seven Yays. 283 00:15:11,090 --> 00:15:14,310 Um, which is a, you know, it's a, it's a work in progress. 284 00:15:14,310 --> 00:15:18,670 That company, um, and that relationship started through content and 285 00:15:18,670 --> 00:15:20,510 conversations, which is just brilliant. 286 00:15:20,510 --> 00:15:20,790 Right? 287 00:15:21,060 --> 00:15:21,470 Love it. 288 00:15:21,910 --> 00:15:22,470 Absolutely love it. 289 00:15:22,470 --> 00:15:23,310 It's a great business. 290 00:15:23,810 --> 00:15:27,420 Um, and I'm really excited about the future of it, but 291 00:15:28,200 --> 00:15:29,740 the podcast grows my business. 292 00:15:29,770 --> 00:15:31,180 Just again, full transparency. 293 00:15:31,800 --> 00:15:36,380 My coaching rate, what I charge for coaching is $4,000 a day. 294 00:15:36,510 --> 00:15:36,860 Right. 295 00:15:37,280 --> 00:15:40,380 And there are frameworks that we share, that we've shared with. 296 00:15:41,730 --> 00:15:44,570 Companies all over the world were the large pharmaceutical companies 297 00:15:44,590 --> 00:15:46,290 to small e-com companies, right? 298 00:15:46,710 --> 00:15:50,570 People have paid serious money for them, but we're gonna put them all 299 00:15:50,830 --> 00:15:56,050 out here for free on the podcast coming up, um, over the coming months. 300 00:15:57,295 --> 00:15:57,515 Why? 301 00:15:57,985 --> 00:16:00,355 Well, we've just, we've shifted our business model a little bit, 302 00:16:00,575 --> 00:16:02,235 um, and it's based on the premise. 303 00:16:02,335 --> 00:16:03,515 You know, you sow, you reap. 304 00:16:04,015 --> 00:16:08,795 The more people I help grow, the more our ecosystem seems to thrive. 305 00:16:08,795 --> 00:16:10,035 It's one of the things that I've noticed, 306 00:16:10,135 --> 00:16:13,995 the more successful e-commerce businesses there are out there, well, the reality 307 00:16:13,995 --> 00:16:15,835 is the more potential partners we have. 308 00:16:15,975 --> 00:16:19,035 So it's not totally selfless, I'm gonna be honest with you. 309 00:16:19,615 --> 00:16:22,035 Um, but it is a journey that I'm looking forward to. 310 00:16:23,605 --> 00:16:27,485 I genuinely looking forward to, you know, e-commerce is constantly moving. 311 00:16:27,825 --> 00:16:30,605 The playing field is, is evolving all the time. 312 00:16:30,665 --> 00:16:31,885 The rules, the boundaries. 313 00:16:32,565 --> 00:16:37,405 I mean, you've gotta stay up to date or you are quickly irrelevant, doing 314 00:16:37,405 --> 00:16:41,205 the podcast, interviewing guests, prepping content, doing the research. 315 00:16:42,615 --> 00:16:44,435 It means I have to stay sharp, right? 316 00:16:44,515 --> 00:16:46,715 I can't, I've gotta do that. 317 00:16:47,335 --> 00:16:53,075 Um, so like learning that fact that only 2% of, uh, well, two to 8% of folks 318 00:16:53,075 --> 00:16:56,915 finish and put into practice what they learn on courses that they have paid for. 319 00:16:57,315 --> 00:16:59,555 I find that really interesting, right? 320 00:16:59,555 --> 00:17:02,875 When I do the research and it helps me, you know, when figuring 321 00:17:02,975 --> 00:17:05,595 out ways to put content together that actually helps people. 322 00:17:06,015 --> 00:17:08,555 So, all the courses that we've done historically, if 323 00:17:08,555 --> 00:17:09,675 they still make sense today. 324 00:17:11,620 --> 00:17:14,330 We're talking at the moment about, do we just put them all online and make 325 00:17:14,330 --> 00:17:16,210 them free for everyone to access? 326 00:17:17,880 --> 00:17:18,360 I don't know. 327 00:17:18,410 --> 00:17:18,920 We'll see. 328 00:17:19,010 --> 00:17:19,360 Right? 329 00:17:19,860 --> 00:17:24,810 So truthfully, the more I learn from implementing alongside you, 330 00:17:24,830 --> 00:17:28,490 the better I can serve our equity partners, our coaching clients. 331 00:17:29,765 --> 00:17:33,385 The podcast, what we're doing, it's not a charity, total transparency, but 332 00:17:33,385 --> 00:17:37,505 what we're building is that idea of a rising tide that lifts all boats. 333 00:17:37,645 --> 00:17:38,665 You sow, you reap. 334 00:17:38,895 --> 00:17:40,465 It's the Alex Hormoz approach. 335 00:17:40,535 --> 00:17:43,865 Just put content out there that is valuable and you'll 336 00:17:43,865 --> 00:17:44,785 be amazed what comes back. 337 00:17:44,835 --> 00:17:45,185 Right. 338 00:17:46,245 --> 00:17:47,905 So that's, that's it. 339 00:17:47,905 --> 00:17:48,985 That's why we're doing it. 340 00:17:48,985 --> 00:17:51,945 The total transparency, and here's my challenge to you, right. 341 00:17:52,730 --> 00:17:54,070 Uh, as I wrap up 342 00:17:54,260 --> 00:17:58,390 today's episode, stop taking notes and start taking action. 343 00:17:58,410 --> 00:17:59,710 Simple principle, right? 344 00:17:59,780 --> 00:18:05,230 Pick one thing from each episode, so when you listen, just take one thing. 345 00:18:05,230 --> 00:18:09,350 If you're not implementing right, take one thing and then do it, 346 00:18:09,690 --> 00:18:11,590 and then tell me what happened. 347 00:18:11,680 --> 00:18:15,670 Reach out to me on LinkedIn @mattedmundson and let me know. 348 00:18:16,370 --> 00:18:17,310 The other thing you can do. 349 00:18:18,260 --> 00:18:21,625 Which I'd totally appreciate actually, is send me in your questions. 350 00:18:22,125 --> 00:18:25,505 So in these solo episodes, I'd really love to do a deep dive on some of the 351 00:18:25,505 --> 00:18:28,745 things that you've got top of mind, some of the questions, some of the challenges 352 00:18:28,745 --> 00:18:31,145 that you are facing, um, in e-commerce. 353 00:18:32,940 --> 00:18:36,385 Running a business, all that sort of stuff, whatever they are, fire 'em 354 00:18:36,385 --> 00:18:39,785 across 'cause well, you know, we'd love to get in there and, and deliver 355 00:18:39,785 --> 00:18:41,585 some content that creates value for us. 356 00:18:42,295 --> 00:18:46,385 Over the coming weeks you'll see this evolution sort of roll out. 357 00:18:46,395 --> 00:18:51,585 We've got new solo episodes tackling stuff like preparing for the summer 358 00:18:51,755 --> 00:18:53,705 sales slump, which you know, at the time. 359 00:18:54,655 --> 00:18:57,475 As I, as we started to do this, that seemed like a good idea. 360 00:18:57,485 --> 00:19:01,315 We're just a bit delayed in getting these episodes out, so that that's 361 00:19:01,555 --> 00:19:03,475 probably gonna come out maybe a little bit too late, but it. 362 00:19:04,125 --> 00:19:07,305 The idea is it will help you prepare and learn for next year. 363 00:19:07,595 --> 00:19:09,105 We're gonna be talking about Black Friday. 364 00:19:09,155 --> 00:19:12,145 We've got some content from Cohort, which I mentioned, which we are 365 00:19:12,145 --> 00:19:13,385 gonna be releasing for free. 366 00:19:14,205 --> 00:19:18,185 Um, especially the stuff around Black Friday that's gonna be coming up as well. 367 00:19:19,110 --> 00:19:21,850 Um, because if you're listening to this, you, you should definitely 368 00:19:21,850 --> 00:19:23,330 be thinking about Black Friday. 369 00:19:23,830 --> 00:19:26,930 If I go, you know, if this comes out when I think it's coming out, you 370 00:19:26,930 --> 00:19:28,370 should definitely be thinking about it. 371 00:19:29,670 --> 00:19:33,490 We are gonna dig into the mindset shifts that separate six figure 372 00:19:33,730 --> 00:19:35,210 survivors from seven figure thrivers. 373 00:19:36,080 --> 00:19:38,290 Love, love, love that phrase. 374 00:19:38,630 --> 00:19:38,850 Um. 375 00:19:39,850 --> 00:19:41,230 So, yeah, we're gonna be getting to all of that. 376 00:19:41,290 --> 00:19:43,350 You know, some of the still the stuff that we find out. 377 00:19:43,770 --> 00:19:46,110 Now, let me just bring you up to speed on the e-commerce cohort. 378 00:19:46,210 --> 00:19:48,270 If you've been a regular to the show, you'll have heard me mention 379 00:19:48,270 --> 00:19:49,590 about this over the last few weeks. 380 00:19:49,840 --> 00:19:54,110 E-commerce cohort has had wait lists in the US and in the UK for 381 00:19:54,110 --> 00:19:55,350 the new cohorts that are starting. 382 00:19:56,200 --> 00:20:00,210 They are gonna launch, uh, after the summer, um, probably 383 00:20:00,210 --> 00:20:01,570 around September, October time. 384 00:20:01,590 --> 00:20:03,890 So if you haven't done so already, make sure you're signed up for 385 00:20:03,890 --> 00:20:06,250 these, these aren't the courses. 386 00:20:06,710 --> 00:20:10,650 Um, and it may be that all the courses we have done and deliver free, we'll 387 00:20:10,650 --> 00:20:12,370 put in, in effect into the cohort. 388 00:20:12,370 --> 00:20:13,850 There's some conversations around that. 389 00:20:14,070 --> 00:20:17,210 But cohort is free to join. 390 00:20:17,360 --> 00:20:21,810 They aren't courses that, let's just call them implementation groups, right? 391 00:20:21,820 --> 00:20:22,410 Think of them. 392 00:20:23,065 --> 00:20:27,485 As a sort of a board of your peers who are also your advisors. 393 00:20:27,485 --> 00:20:32,645 You know, they're all in the trenches with you and they are completely free. 394 00:20:32,945 --> 00:20:34,205 So do check that out. 395 00:20:34,265 --> 00:20:38,765 Um, you can go to the website eCommerce podcast.net, um, and check that 396 00:20:38,765 --> 00:20:40,605 out, uh, and learn more about it. 397 00:20:40,605 --> 00:20:41,725 Just click the cohort button. 398 00:20:41,905 --> 00:20:43,485 Uh, honestly, it'd be great to see you in there. 399 00:20:44,065 --> 00:20:46,405 Uh, the other thing that's happening again, you'll have heard 400 00:20:46,405 --> 00:20:47,405 me talk about this on the show. 401 00:20:48,720 --> 00:20:52,240 Starting in September, our new newsletter, um, is gonna be launching 402 00:20:52,240 --> 00:20:55,680 as a complete overhaul, not just the, here's what this week's episode 403 00:20:55,700 --> 00:20:58,720 is, you know, with a few lines, but we want to make sure that there's 404 00:20:58,720 --> 00:21:00,000 some real additional value in there. 405 00:21:00,060 --> 00:21:02,840 The stuff, you know, that I can't fit into the 20 minutes basically. 406 00:21:03,020 --> 00:21:06,040 So, um, again, with these solo episodes, we're gonna be doing. 407 00:21:07,035 --> 00:21:10,705 Worksheets, checklists, freebies, those kind of things that sit alongside 408 00:21:10,705 --> 00:21:12,025 it that you can get access to. 409 00:21:12,685 --> 00:21:15,505 Um, all of that sort of stuff will also be in the newsletter. 410 00:21:16,525 --> 00:21:18,665 So yeah, lot of change coming up. 411 00:21:18,835 --> 00:21:20,625 Let's change, let's say there's pivots. 412 00:21:20,805 --> 00:21:22,705 Um, no, let's not say pivots 'cause I hate that word. 413 00:21:23,075 --> 00:21:24,825 Let's say improvements. 414 00:21:25,635 --> 00:21:25,855 Uh, 415 00:21:27,945 --> 00:21:32,735 let's use that word, um, because I just, I, I just love this show and we really 416 00:21:32,735 --> 00:21:34,215 want to help deliver more and more value. 417 00:21:34,635 --> 00:21:39,535 So, uh, you know, we this real passion for focusing, you know, on that gap 418 00:21:39,535 --> 00:21:44,775 between learning and doing, because after 20 years in e-commerce, after 419 00:21:45,215 --> 00:21:49,655 building and selling multiple businesses, and even after my $38 million lesson. 420 00:21:50,835 --> 00:21:54,875 I know the difference between the businesses that thrive and 421 00:21:54,875 --> 00:21:59,075 those that merely survive is not knowledge, not in this day and age. 422 00:21:59,705 --> 00:22:01,315 It's not even talent. 423 00:22:02,435 --> 00:22:03,675 I think a lot 424 00:22:03,675 --> 00:22:07,715 of it is the ability to take imperfect action consistently. 425 00:22:09,195 --> 00:22:11,475 Everyone out there is waiting for the perfect strategy. 426 00:22:11,575 --> 00:22:14,835 You know, the revolutionary tactic, the course that changes 427 00:22:15,125 --> 00:22:17,555 everything, but the real secret. 428 00:22:19,375 --> 00:22:21,415 I think it's doing the basics brilliantly. 429 00:22:21,855 --> 00:22:27,655 Learning from what actually happens, not what you think should happen, and having 430 00:22:27,655 --> 00:22:29,895 people around you who get it right. 431 00:22:30,315 --> 00:22:33,255 And that's what these solo episodes are all about. 432 00:22:33,555 --> 00:22:41,255 That's what cohort is all about, and that's what this entire evolution is all 433 00:22:41,665 --> 00:22:44,655 about, because learning is not the same. 434 00:22:45,270 --> 00:22:46,210 As implementation. 435 00:22:46,680 --> 00:22:47,490 I'll say that again. 436 00:22:47,490 --> 00:22:48,770 It's one of my favorite phrases. 437 00:22:49,330 --> 00:22:52,690 Learning is not the same as implementation, and I reckon 438 00:22:52,800 --> 00:22:55,530 it's probably time we all stop pretending otherwise. 439 00:22:57,835 --> 00:23:01,365 Look, if you are serious about actually implementing, instead of 440 00:23:01,365 --> 00:23:05,005 just learning, join the seriously join the cohort, the links in the 441 00:23:05,005 --> 00:23:06,645 description, uh, in the show notes. 442 00:23:06,705 --> 00:23:09,885 Or like I say, head over to eCommerce podcast.net. 443 00:23:10,385 --> 00:23:14,365 Uh, send me your questions, you know, the messy specific actual 444 00:23:14,485 --> 00:23:15,965 problems that you are facing. 445 00:23:16,405 --> 00:23:21,405 'cause maybe just maybe, uh, we'll do one of these shows on that particular 446 00:23:21,405 --> 00:23:22,805 problem and let's work through them. 447 00:23:22,815 --> 00:23:23,685 Let's see what happens. 448 00:23:24,505 --> 00:23:25,045 And remember. 449 00:23:26,350 --> 00:23:29,560 That folder of great ideas on your desktop, open it. 450 00:23:29,800 --> 00:23:30,400 I dare you. 451 00:23:30,550 --> 00:23:35,080 Open it, pick one thing, implement it this week, and then drop me a 452 00:23:35,080 --> 00:23:37,160 note telling me about what happened. 453 00:23:37,850 --> 00:23:43,600 After all, your implementation story is worth more than another expert's theory.