Navigating the Reality of Launching—and Closing—an eCommerce Business with Mike Stevens

Mike Stevens is one of the DTC pioneers, with 8 years at Innocent Drinks back in the 2000s, and then founding good-for-you confectionery brand Peppersmith, which over 10 years he scaled all the way to exit in 2018. He’s also the author of the excellent and bestselling and award-winning book “The Direct to Consumer Playbook: The Stories and Strategies of the Brands that Wrote the DTC Rules”.  Hit PLAY to hear: The highs and lows of being an entrepreneur Knowing when to transition your business, or to close it Considering product-market fit Opportunity cost and why it matters Embracing failure as a learning opportunity  Key timestamps to dive straight in: [05:58] Mike’s take on sustainability, functionality, his Amazon journey, multichannel business. [12:27] High acquisition costs due to low demand. [15:03] Real product, timing challenges, consumer purchasing shifts. [17:46] Running the business was full-time, unfeasible to leave on the side. [21:17] Considering opportunity cost over easy choices. [25:10] Passionate about purpose-driven products and consultancy. [27:05] Listen to Mike’s Top Tips! Full episode notes here: https://ecmp.info/516Mike’s previous episode where he talks about his book: https://ecmp.info/390  Download our ebook >> https://ecmp.info/ebook "500 Top Tips to Make Your eCommerce Business More Profitable" Download our new ebook... https://ecmp.info/ebook 500 Tips to Increase Your ProfitsGet all the links and resources we mention & join our email list at https://ecmp.infoLove the show? Chloe would love your feedback - leave a review here: https://ecmp.info/review or reply to the episode Q&A on Spotify.Interested in being a Sponsor? go here: https://ecmp.info/sponsor This podcast uses the following third-party services for analysis: Spotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/

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Trying to work out how to acquire more customers? Need to improve customer retention? Or just looking for some reassurance you’re on the right track? That’s what the eCommerce MasterPlan is here for. Every week we interview an e-Commerce business person (owner, manager or marketer) with a fascinating insight into successful online retailing. Their business might be a UK mail order retailer, an online-only store from Australia, or a brick and clicks business from the USA – but every one of them is doing something we can all learn from. Many of our guests are using Shopify & Klaviyo, but we also have guests using Wix, Bigcommerce, Woocommerce, Omnisend and Magento. So you're sure to find an episode that directly helps YOU. Listen for advice on what to do next, the reassurance you’re heading in the right direction and all the inspiration you need to grow your eCommerce business without losing your life in the process!This podcast uses the following third-party services for analysis: Spotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/