Wake Up & Seize the Day - Insights From Shopify President, Harley Finkelstein

Howdy early birds! 🐦

There was once a guy on YouTube who ran really cringey ads talking about how he would rather have books in a garage instead of a Lamborghini. I don’t know about all of you, I’m an avid reader but I think I’d still rather have a Lamborghini. I think he was trying to say knowledge is power, but i disagree. Knowledge on its own is fairly useless. Now applied knowledge, that’s true power right there. Everyone has great ideas, but less than 1% will do anything about it. It’s up to you to decide who you want to be and what path you want to take.

Alright, now that your daily motivational speech is taken care of I figured you all might be interested in this thing I saw yesterday. Entrepreneur magazine's Editor in Chief, Jason Feifer, and Shopify's President, Harley Finkelstein discussed the phenomenal expansion of opportunities in e-commerce. Personally, I feel that a lot of what Harvey said can actually be applied to any entrepreneur in any niche. Here’s a quick summary of the article

1. The Growth of Ecommerce

There's a massive entrepreneurial renaissance happening right now, with millions of people turning their hobbies into profitable businesses. Capitalize on this trend and seize the opportunities in ecommerce.

2. There's Never Been a Better Time to Try Something

The cost of failure has never been lower. With the help of various tools and platforms, you can start your business right from your mom's kitchen table. So, don't be afraid to take the plunge!

3. Iterate, Pivot — No Idea is Forever

Don't be too attached to your first idea, and I can personally attest to this one. Successful businesses often go through iterations and pivots. Keep refining your concepts and learn from your experiences. Who knows, your next move could be the key to success.

4. Be a Part of the Community You are Serving

Authenticity is a must for thriving brands. Get involved with the community you're serving, gather feedback, and improve your product. Remember, being small allows you to be more agile and connected to your customers.

5. Ask Your Competitors for Help — It's Not a Zero-Sum Game

The internet has shifted business from a zero-sum game to a positive-sum model. Embrace the spirit of collaboration and share your experiences, tips, and strategies with other entrepreneurs. There's enough room for everyone to grow and succeed.

6. Build on Customer Relationships

Foster strong connections with your existing customers to transform them into loyal, frequent buyers. Engage with them, seek feedback, and make improvements to enhance their buying experience.

7. Think Small and Targeted with Your Outreach

Building and maintaining relationships is crucial for business success. Reach out to key influencers within niche communities to help spread the word about your brand. Remember, it's not always about having the most followers or being on the biggest shows. Sometimes, connecting with smaller, more focused communities can have a significant impact.

Also, kind of related to the above, but we're considering starting a Discord group if there's enough interest. If you're in favor, reply to this email with "Discord," and you'll be among the first to receive an invite if we launch the group.

We hope you enjoyed these insights. Don't forget to check out the original article here for more valuable tips from Shopify's President, Harley Finkelstein. Also, take a moment to explore the Top 10 Must-Have Traits for Successful Entrepreneurs in 2023.

As always, stay focused and remember that knowledge just taking up space in your brain is literally useless. Apply that knowledge and build something with it. The world is your oyster, or however that saying goes. You don’t need motivation, you need dedication. Get off your phone and go conquer the Earth.💪

Regards,

Derick