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The Brutal Money Lessons 90% of eCommerce Founders Learn Too Late
Manage episode 466438095 series 3428860
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Ever wonder why some e-commerce businesses thrive while others barely survive? In this eye-opening episode of the E-Commerce Podcast, host Matt Edmundson and fractional CFO Jodi Mercer unpack the financial secrets that separate successful e-commerce ventures from the rest. With over 25 years of financial leadership experience, Jodi shares crucial insights about disciplined planning, the power of external accountability, and knowing when to pivot or persist in your business journey. Their candid discussion reveals why many entrepreneurs struggle with financial management and offers practical solutions for building a sustainable e-commerce business.
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Key Takeaways
1 Financial Planning is Critical
Entrepreneurs need a clear, disciplined plan for revenue, spending, and metrics tracking. Without this foundation, businesses risk making emotional rather than strategic decisions.
2 External Accountability Matters
Having an outside perspective through a board, advisor, or fractional CFO can provide crucial oversight and help maintain focus on long-term goals rather than getting distracted by new ideas.
3 Know Your Exit Points
Plan for both success and failure scenarios upfront. Set clear metrics and timelines for when to pivot or shut down, rather than continuously investing in a non-viable business model.
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If this episode of the eCommerce Podcast piqued your interest make sure to check out everything that gets done over here on the eCommerce Podcast, a space dedicated to eCommerce Wow!
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Links referenced in this episode:
Companies mentioned in this episode:
- Ascent CFO Solutions
- Beehive
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