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27 Entrepreneurs Share Tips on Building an Ecommerce Business

Hearpreneur

The expansion of e-commerce should also bring about seeing returns as a strategic lever, similar to how companies used faster delivery to drive customer experience and revenue. In that initial growth phase, running out of stock can be detrimental and slow down the momentum of your business growth. Thanks to Chris Gerbig, Pink Lily !

eCommerce 133
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Is the Lean Startup Dead?

Steve Blank

Reading the NY Times article “ Jeffrey Katzenberg Raises $1 Billion for Short-Form Video Venture, ” I realized it was time for a new startup heuristic: the amount of customer discovery and product-market fit you need to find is inversely proportional to the amount and availability of risk capital. ” Fire, Ready, Aim.

Lean 335
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How to Master Customer Value Optimization

ConversionXL

Meaning: C = Customers (traffic x conversion rate) CLV = Customer revenue – (CAC + cost of serving that customer) CAC = Customer Acquisition Cost G = Growth. The formula weans businesses from an obsession with traffic and instead focuses on increasing customers that generate the most revenue with the lowest acquisition and maintenance costs.

Customer 132
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Retail Reimagined: 9 Trends for the Future of Physical Retail

ConversionXL

We want to see and touch and smell and try on and (sometimes) taste the products we’re buying, and the eCommerce experience can only go so far. When shelter-in-place hit last March, forcing their doors to close, their revenue dropped to nothing overnight. With no way to serve it in their restaurant, their revenue flattened.

eCommerce 155
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Don’t Sleep on Lightning

Version One Ventures

Lightning is a network of bi-directional payment channels that allows for instant settlement between parties and routing of payments over a TOR-like p2p network settled in units of bitcoin. > 36,000 public channels . > And >40% of that revenue is coming from in-game purchases. > 14,000 public nodes . >

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How to Build Trust with Ecommerce Buyers This Holiday Season

ConversionXL

Now that we’re months into the pandemic, most customers are understanding and aware of delays and items running out of stock, but that understanding will be put to the test for the holiday season. Being transparent and open about your stock and delivery times is more important than ever. Give guidance on gift-giving.

eCommerce 125
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30 Entrepreneurs Explain Their Major Accomplishments In 2021

Hearpreneur

Having achieved our business goals for the year and now being stocked in Nordstrom Stores have been proud moments. 16- Hit $1 million revenue. I'm proud of our business finally hitting the $1 million revenue. We didn't have much in the way of a revenue target when we started the year. Photo Credit: Alina Clark.