logo
episode-header-image
Mar 2025
55m 53s

How To Really Make Money Online

Wes Schaeffer
About this episode

#12WeeksToPeak #ecommerce #onlinebusiness

Maximize Your Profit Margins When Selling Online, David Schomer

David Schomer and I discuss the evolving landscape of e-commerce, focusing on the competition between Amazon and Shopify. (One is much better than the other, and it's not even close.)

We explore the importance of data-driven decisions, profit margins, and customer relationships in building a successful online business.

David shares insights on the challenges of selling on Amazon, the benefits of owning customer data through Shopify, and the significance of diversification in business models.

We also get into the importance of hiring the right team and the value of veterans in the workforce. (We know the Air Force is best!)

We also discuss David's journey from accounting to entrepreneurship. He discusses the importance of e-commerce and conversion rates in business growth, as well as redefining what it means to be an entrepreneur in a team setting.

00:00 Introduction to E-commerce Success

03:10 The Amazon vs. Shopify Debate

06:11 Understanding Profit Margins in E-commerce

09:05 The Importance of Customer Relationships

12:12 Diversification in E-commerce Business Models

15:12 Hiring and Managing a Team for Success

24:22 The Value of Military Experience in Hiring

28:31 From Accounting to Entrepreneurship: David's Journey

33:04 E-commerce Insights and the Future

39:00 Redefining Entrepreneurship: Working for a Team

43:54 Connecting with the Audience: Resources and Closing Thoughts

Key Points

  • Data-driven decisions lead to better performance.
  • Amazon's dominance in e-commerce is being challenged.
  • Owning customer data is crucial for long-term success.
  • Profit margins on Shopify can be significantly higher than on Amazon.
  • Customer relationships enhance the e-commerce experience.
  • Diversification is essential for a healthy business model.
  • Hiring veterans can improve team performance.
  • Good help is hard to find, but it exists.
  • Building a brand is more valuable than drop shipping.
  • Engaging with customers adds humanity to e-commerce transactions. Military experience can provide valuable skills in the workplace.
  • Using traditional methods like newspaper ads can yield reliable hires.
  • E-commerce offers a better shopping experience for consumers.
  • Building a business requires grit and resilience.
  • Documenting your entrepreneurial journey can inspire others.
  • Conversion rates are crucial for business growth.
  • Working in a team can enhance entrepreneurial efforts.
  • There's no shame in working for someone else.
  • Taking risks in your career can lead to new opportunities.
  • You can always return to your previous job if new ventures don't work out.


Guest Site: https://firingtheman.com/

Guest Site: https://buildgrowscale.com/

Not for the mediocre majority: Learn how I get more done in a quarter than most achieve in a decade in 12 Weeks To Peak™ https://wesschaeffer.com/12w

Connect with me:

  • X -- https://X.com/saleswhisperer
  • Instagram -- https://instagram.com/saleswhisperer
  • LinkedIn -- http://www.linkedin.com/in/thesaleswhisperer/


#12WeeksToPeak #ecommerce #onlinebusiness

Up next
Aug 22
Outbound Prospecting // How LinkedIn Automation Can Boost Your Sales Fast: HeyReach & Ilija Stojkovski
Takeaways—The importance of personalization in outreach efforts.—LinkedIn is not just a social platform; it's a data warehouse.—Inbox saturation is a significant challenge for marketers.—Hyper-personalization can lead to new forms of saturation.—Referrals are crucial for building ... Show More
59m 26s
Aug 19
AI In Sales // Yes, Another Selling With AI, But This Time, With Chris Daigle, Founder of ChiefAiOfficer.com // Do AI Right To Grow Sales
#12WeeksToPeak #SalesTraining #salesautomation #GrowthMindsetSummaryI sit down with Chris Daigle to discuss the transformative impact of AI on business and everyday life. We explore how AI is not just a technological advancement but a revolution that is reshaping industries. Chri ... Show More
1h 1m
Aug 9
AI In Sales // Yes, Another Selling With AI, But This Time, With Jason Benedict, Founder of Automation Agency // Automate, Integrate, Dominate, Celebrate
I've known Jason Benedict for over a decade.He's a smart entrepreneur and marketing agency owner who understands the transformative impact of AI on sales and business operations. We get into the evolution of AI tools, the benefits of automation, and how you can implement AI solut ... Show More
54m 21s
Recommended Episodes
Jan 2025
MBA2571 Why I Quit My E-Commerce Business
Running a business can sometimes feel like a dream come true—until it becomes a waking nightmare. Ever look at successful e-commerce businesses and wonder what’s really happening behind the scenes? Think high sales always mean high profits? In this raw and honest episode, Omar pu ... Show More
12m 8s
May 23
Retail Reinvented: Inside Shopify’s Game-Changing POS 10 Launch with Ray Reddy
Ray Reddy is VP of Retail at Shopify, leading the company's retail business and championing local entrepreneurs. With a career focused on leveraging technology for commerce, he previously co-founded Ritual, a mobile commerce platform supporting local restaurants, and PushLife whe ... Show More
24m 2s
Feb 2023
Why you need Business Development
Episode 4 of The Business Development Podcast delves into the topic of marketing your own company. Host Kelly Kennedy, owner of Capital Business Development, sheds light on why he believes that business owners should not handle their own marketing. He acknowledges that as a busin ... Show More
38m 17s
Mar 2025
Navigating E-Commerce Challenges in 2025 with Sabir Semerkant
E-Commerce in 2025: Challenges & Winning Strategies How can e-commerce brands thrive in 2025? In this Sales Pop episode, expert Sabir Semerkant, who has helped drive over $1 billion in sales, reveals key strategies for growth. Learn why many businesses fail due to poor decision-m ... Show More
30m 35s
Dec 2024
Understanding Business Valuation
Welcome to another insightful episode of "Accelerate Your Business Growth." Today, we have the privilege of hosting Martha Sullivan, a former systems consultant turned CPA, CFO, COO, and profit and value growth strategist. As the head of Providence Hill Consulting, Martha aids bu ... Show More
42m 28s
Mar 2025
Maximize Your Margins as an Ecommerce Founder
Ecommerce expert and agency founder Andrew Faris shares how he uses "P&L design" to increase margins and run online businesses efficiently. He's now applying some of these strategies to launch his own upcoming consumer brand. Andrew shares his tips for iterating and testing creat ... Show More
34m 23s
Sep 2024
How Startups Can Turn Failure into Success
AptDeco, a peer-to-peer marketplace for used furniture, launched in New York City in 2014. Despite its complexity and high costs, the company grew quickly. Co-founders Reham Fagiri and Kalam Dennis considered several different options for scaling the business—from expanding into ... Show More
25m 58s
Mar 2025
559: 5 Reasons Your Business Won't Grow
Five major challenges that prevent small businesses from scaling. Henry shares practical solutions that small business owners can implement to break through growth barriers and create a scalable, profitable small business. Show Notes Page: https://www.thehowofbusiness.com/559-5-r ... Show More
19m 25s
Jul 2024
How to Scale a Start-Up
Managing rapid growth is a huge challenge for young businesses. Even start-ups with glowing reviews and skyrocketing sales can fail . That’s because new ventures and corporate initiatives alike must sustain profitability at scale, according to Harvard Business School senior lectu ... Show More
27m 45s
Dec 2024
Sustainable Business Success
Welcome to another insightful episode of Accelerate Your Business Growth! Today, our host Diane Helbig sits down with Dr. Ian Brook, CEO and founder of Rhodes Smith Consulting, to delve into the essence of intentional transformation in the business world. In this episode, Ian hig ... Show More
41m 37s