How To Build Personal Wealth In DTC

A Feast of E-commerce Wisdom

Author

Jordan West
October 14, 2023

From The Experts, Buckle Up!🌟

I'm about to whisk you away on a lively recap of the Send Lane E-commerce Round Table event. Picture a gathering of e-commerce enthusiasts, fueled by caffeine and an insatiable appetite for knowledge. That's right, it was THAT kind of event! ☕💡

Now, let's dive into the treasure trove of insights we've uncovered. We had the privilege of hearing from some true titans of the industry, and trust me, their wisdom was worth its weight in gold. So, grab your virtual seat, and let's embark on this enlightening journey together! 🛋️🚀

1. Jimmy Kim's Email Marketing Hacks 💌

Jimmy Kim, the brains behind Sendlane, dished out some practical email tips:

  • Keep your audience steady; no need to constantly shuffle the deck.

  • Dodge those spam traps; they're a real buzzkill for your rep.

  • Get chatty with your subscribers; plain text emails with questions rock the engagement game.

2. Ronak Shah's Cart Abandonment Tricks 🛒👻

Ronak Shah from Obvi had a gem for cart recovery:

  • Swap out discounts for mystery gifts; curiosity wins every time.

  • Make product launches exclusive; give your VIPs the first dibs.

3. Aaron Spivak's Community-Building Gems 🌟💪

Aaron Spivak, the genius at Hush, spilled the beans on creating a solid community:

  • Document your journey; it's like behind-the-scenes content on steroids.

  • Tell stories about your products; make 'em feel a part of something special.

  • Founder-led content is gold; let your personality shine through.

4. The Power of Vulnerability and Personal Touch ✨💖

Here's the deal: being real matters. Be the chef that steps out and makes things personal. Oh, and calling abandoned carts? It's like a shortcut to understanding your customers better.

These takeaways are the real deal, folks. Dive in and start weaving some e-commerce magic of your own! 🚀🛒

P.S. If you seek a creative audit to fortify your endeavors, send a kind message my way! Your quest may hold untold treasures within. 🎁

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New Podcast |Ep 490: How To Build Personal Wealth In DTC with Chase Insogna, Insogna CPA

Create buckets of cash to secure short-term savings, invest in retirement accounts, and keep liquid cash for emergencies and business operations. Avoid excessive borrowing by building up your cash reserves.

In this episode, Jordan West and Chase Insogna, CEO and Founder of Insogna CPA navigates the complexities of taxes and financial planning. Together, they delve into the importance of strategic financial management and offer practical tips for entrepreneurs in the ecommerce space. They emphasizes the need to focus on four key phases when building wealth in an ecommerce business.

Listen and learn in this episode!

Key takeaways from this episode:

  • Building personal wealth should be a priority for business owners.

  • Working with a licensed CPA can help minimize taxes and ensure proper tax filings.

  • Reinvesting all profits back into the business may not be the best strategy for personal wealth building.

  • Having multiple buckets of cash, such as short-term savings, retirement accounts, and emergency funds, is important for financial stability.

  • Avoiding external borrowing is a goal in ecommerce businesses.

  • Profit First method may not scale well as the business grows.

  • Cash flow management and covering short-term expenses is crucial for business stability.

Recommended Podcast/Audiobook:

The Secrets to Scaling Your Ecommerce Brand:

Recommended App/Tool:

Salvit Advisors: https://www.salvit.com/

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  • Immediate Impact: These insights aren't just theoretical. They're actionable recommendations that can drive tangible profit for your business.

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Today’s Guest:

Chase Insogna, CEO and Founder of Insogna CPA, a licensed CPA in the state of Texas. He has built a successful business, serving clients all across the country. While many may not be aware, CPAs have reciprocity in every state, allowing Chase to work with clients nationwide without the need for additional licenses. With a team of over 20 dedicated professionals, Chase has been providing their expertise since 2011. Their unique approach combines transactional expertise with advisory coaching strategies, helping their clients navigate their financial journeys effectively.

Connect and learn more about Chase and Insogna CPA:

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Jordan West, CEO and Founder of upGrowth Commerce, a digital marketing brand. He started in marketing at 22 when he bought a Taco Del Mar chain restaurant. The learning curve was large but after 5 years he had tripled the sales at the restaurant with creative marketing tactics.

After selling the store Jordan and his wife grew their children’s clothing company Little & Lively from a small at-home operation to one of the “top ten baby brands in Canada” with advanced digital marketing techniques. Jordan’s business passion is helping e-commerce brands grow exponentially.

Fun Fact: For many years, Jordan was a part-time paramedic and loved helping people on their “worst day”.