E145: Under the Hood with David Wilson Part 1 – Taking a Plateauing Business to the Next LevelMay 15, 2018 in Ecom-Crew-Podcast
Massive growth is not uncommon for ecommerce businesses. We, for instance, doubled our revenue every year since we started in 2015. With this kind of trend it becomes very unsettling for most ecommerce business owners if sales suddenly remain the same month after month, even if that sales number is high.
This is what today’s Under the Hood guest is going through. David Wilson had been enjoying massive growth when his sales suddenly plateaued–not increasing and not decreasing, just remaining more or less the same every month. His ads no longer worked, paid search was no longer effective, and his cost per acquisition skyrocketed. His business was in danger of losing profits if he kept doing the same things over and over.
David needs cost-effective ways to expand sales and that is the topic for this Under the Hood session. For this episode, David and I talk about the first action he urgently needs to do: delegation. Much of his time is tied up on small day to day tasks and he needs to free up time to spend on higher-level tasks that will help recover the growth of his business.
In particular, we talk about hiring VAs and using Amazon FBA for fulfillment, two of the lowest-hanging fruit in terms of delegation. In addition, we also talk about the following:
- David’s consulting session with me and Grant in the past
- His professional background and how he got into ecommerce
- How his business started plateauing after experiencing massive growth
- What he does on a day-to-day basis
This is just the first part of our coaching session. In Part 2 we get into the meat and potatoes–the specific actions David needs to do to scale his business and gain back his previous growth. These are things that can easily be done, from improving product photography to using a new Shopify theme. Part 2 will come out on Thursday.
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Thanks for listening! Just comment below if you have questions or advice for David, and get a chance to win an EcomCrew branded mug. Until the next episode, happy selling!
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.