E461: Reaching The Five-Year Mark (Annual Brand Update by Dave Bryant)
I did the first one of these annual brand updates on July 17, 2017. It’s kind of surreal how fast time flies. I’ve always enjoyed these because it makes me take an objective look at my brand.
We have an article about this subject on the blog. If you’d like to go through the full details, you can find the article by clicking here.
In this article, I will give a five-year update (I can’t believe it has been that long!) which will detail revenues, wins, losses, and goals for the next year.
Businesses in certain niches certainly benefited from the lockdown, us included. With people choosing to do more outdoor activities then, we saw a spike in our sales the first two years into the pandemic.
However, as the world slowly opened up again and travel resumed, our revenue went down. I’m sure other businesses in this niche are experiencing this as well.
The past year wasn’t all that bad though. We had our losses, but we had awesome wins too. I’ve also set some goals for the company that I hope will come to fruition in the coming months.
Check out the highlights from this episode:
- Intro – 0:00
- June 2022 revenue – 2:52
- The Covid bump – 3:31
- Increased competition – 6:17
- Decline in TACoS – 8:56
- Our massive hit product – 12:29
- Finding a good fulfillment system in Canada – 15:30
- New hires from the Philippines – 16:30
- Developing a custom inventory software – 17:40
- Our losses the past year – 19:20
- My goals for the next 12 months – 21:25
That’s it for my year-in-review podcast episode. Thanks for tuning in and I hope you were able to take away a thing or two from this brief discussion.
I also did a blogpost where I elaborate more on these points in detail over at ecomcrew.com. Go check it out and leave a comment. I’d love to know what you guys think.
As always, don’t forget to leave us a review over on iTunes if you enjoy our content. Happy selling and we’ll see you in the next one!