10 Ecommerce Mistakes & How to Avoid Them
Learn from Davey's $270 million in sales experience. This program outlines 10 common mistakes made when launching ecommerce brands and offers actionable strategies to avoid them, covering topics from organic TikTok strategy to financial management. This program emphasizes practical application and habit formation through actionable routines and challenges.
Program Modules
Organic TikTok Strategy
Start an organic TikTok strategy to gain brand awareness and drive sales without significant ad spend. Learn to capitalize on trends, use trending sounds, and engage with your audience through high-frequency posting and creative content. This module will have you crafting viral content in no time!
Trend Identification
DailyIdentify relevant TikTok trends for your product niche.
“TikTok is here to stay. Videos are going viral and brands are making an absolute killing on the platform.”
Content Creation Sprint
WeeklyCreate and schedule TikTok content for the week.
“I like to think of TikTok as a top of funnel strategy to gain awareness around your product.”
Understand Your Financials
Gain financial literacy by understanding profit and loss statements, cash flow reports, and balance sheets. Hire a proper accountant and track costs down to the absolute dollar to make informed decisions. Master your finances and watch your business thrive!
Financial Review
MonthlyReview key financial statements and identify areas for improvement.
“It may not be as sexy as product design but it is most definitely still as important.”
Cost Tracking
WeeklyTrack costs down to the absolute dollar.
“It may not be as sexy as product design but it is most definitely still as important.”
Differentiate Through Design
Differentiate your products through unique designs and protect them with IP agreements. Explore strategies from Porter's Generic Business Strategies and learn to validate ideas through digital advertising. Stand out from the crowd with innovative designs!
Differentiate Through Design
WeeklyDifferentiate your products through unique designs and protect them with IP agreements. Explore strategies from Porter's Generic Business Strategies and learn to validate ideas through digital advertising. Stand out from the crowd with innovative designs!
“Ideas are cheap and execution is worth everything.”
Post-Purchase Attribution Surveys
Implement post-purchase surveys to understand where customers discover your brand. Optimize ad spend by identifying the most effective channels and use post-use surveys to gather product feedback. Get valuable customer insights!
Post-Purchase Attribution Surveys
WeeklyImplement post-purchase surveys to understand where customers discover your brand. Optimize ad spend by identifying the most effective channels and use post-use surveys to gather product feedback. Get valuable customer insights!
“Where did you see us? You want to understand did the customer see you on tick tock did the customer see on facebook.”
Importance of Operations
Invest in a strong operations team to manage supply chain, merchandise planning, and fulfillment. Implement weekly trade meetings and explore inventory planning apps to prevent stockouts and maintain momentum. Streamline your operations for success!
Importance of Operations
WeeklyInvest in a strong operations team to manage supply chain, merchandise planning, and fulfillment. Implement weekly trade meetings and explore inventory planning apps to prevent stockouts and maintain momentum. Streamline your operations for success!
“When you run out of inventory you lose a ton of money and more importantly you lose a ton of momentum.”
Build Dashboards Around KPIs
Create clear dashboards to track sales, channel spend, and net profit. Use tools like Clipfolio or Google Data Studio to present information in a consumable way for your team. Ensure accurate cost per item setup in Shopify for reliable net profit calculations. Visualize your data for better decision-making!
Build Dashboards Around KPIs
WeeklyCreate clear dashboards to track sales, channel spend, and net profit. Use tools like Clipfolio or Google Data Studio to present information in a consumable way for your team. Ensure accurate cost per item setup in Shopify for reliable net profit calculations. Visualize your data for better decision-making!
“Clear dashboards give visibility throughout the month for your entire team.”
Set Up an OKR System
Implement Objectives and Key Results (OKRs) throughout your company to create alignment. Define measurable key results for each department to achieve higher-level objectives like increased revenue. Align your team and achieve your goals!
Set Up an OKR System
WeeklyImplement Objectives and Key Results (OKRs) throughout your company to create alignment. Define measurable key results for each department to achieve higher-level objectives like increased revenue. Align your team and achieve your goals!
“After reading measure what matters we decided to roll out okrs throughout the company in all departments and it was a game changer.”
Hire a CRO Team
Hire a Conversion Rate Optimization (CRO) team early on to optimize your funnel and increase ad spend efficiency. Run split tests on product pages, cart pages, and home pages, and experiment with price split testing. Convert more visitors into customers!
Hire a CRO Team
WeeklyHire a Conversion Rate Optimization (CRO) team early on to optimize your funnel and increase ad spend efficiency. Run split tests on product pages, cart pages, and home pages, and experiment with price split testing. Convert more visitors into customers!
“This is a key lever in making your ad spend go further and your brand grow quicker.”
Take on Larger Product Items
Differentiate from dropshippers by taking on larger product items, which are often more viable for creating margin and higher AOV. Overcome the fear of shipping containers and work closely with a 3PL. Increase your margins and protect your brand!
Take on Larger Product Items
WeeklyDifferentiate from dropshippers by taking on larger product items, which are often more viable for creating margin and higher AOV. Overcome the fear of shipping containers and work closely with a 3PL. Increase your margins and protect your brand!
“One thing that has made us so successful is our willingness to take on larger product items.”
Product Timing Is Everything
Launch products that are novel and fresh to capture attention on platforms like Facebook. Look for trends and consider bringing products to new regions. Understand that product timing is an art. Master the art of product timing!
Product Timing Is Everything
WeeklyLaunch products that are novel and fresh to capture attention on platforms like Facebook. Look for trends and consider bringing products to new regions. Understand that product timing is an art. Master the art of product timing!
“With facebook it really serves novel new products because it's exciting and people engage with it.”
What You'll Accomplish
- Understand the importance of organic TikTok strategies.
- Differentiate products through design and protect IP.
- Implement post-purchase attribution surveys to optimize ad spend.
- Invest in a strong operations team and manage supply chains effectively.
- Build dashboards to track key performance indicators (KPIs).
- Set up an OKR system for company alignment.
- Hire a CRO team to optimize conversion rates.
- Understand financials and track costs accurately.
- Take on larger product items to differentiate from dropshippers.
- Recognize the significance of product timing.
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