This 18 Year Old Is Making Over $1M Per Month...

Summary

In this insightful interview, Joseph, a successful 18-year-old entrepreneur, shares his journey in eCommerce, emphasizing the importance of persistence, testing, and automation for growth. He discusses the significance of starting with editors to manage content production and how strategic testing can drive success. Joseph highlights the value of building an empire of automated stores and eventually scaling to multiple brands. He also offers advice on overcoming the common mistakes in eCommerce, such as avoiding shiny object syndrome and cutting tests too early. His ultimate goal is to create automated brands and invest in real estate for long-term financial success.

Takeaways

• 😀 Start with editors before hiring a strategist in e-commerce. Editing takes up the most time, and as a business owner, you can act as your own strategist initially.
• 😀 Persistence and consistency are key to success in e-commerce. Avoid the shiny object syndrome and focus on testing, researching, and never getting lazy.
• 😀 When scaling a dropshipping store, it's important to keep testing creatives and not cut tests too early. Even if an ad doesn't perform well immediately, it might improve with more time.
• 😀 AI tools like ChatGPT can help with content creation, but a lot of ideas come from browsing platforms like TikTok, Facebook, and forums, where the audience engages with relevant topics.
• 😀 To scale from a couple hundred thousand to a million dollars a month, be ready to test more creatives, even if it feels overwhelming. More testing leads to better results.
• 😀 Don't be afraid to experiment with a broad testing strategy. Interests can drive immediate sales, and broader targeting can lead to better long-term outcomes once momentum builds.
• 😀 Building automated e-commerce stores and brands is a scalable business model. The focus should be on automation to reduce hands-on management and increase profits.
• 😀 It's crucial to have a clear, long-term vision for financial independence. Automating the business and reinvesting in real estate can create a sustainable wealth-building strategy.
• 😀 Avoid the toxicity of social media platforms like Twitter, which can be negative or distracting. Focus on your own journey and growth instead of comparing yourself to others.
• 😀 For entrepreneurs who want to sell Shopify stores, platforms exist to help with store valuation and sales, and it can be a profitable venture if done strategically.
• 😀 Start by understanding the value of persistence in testing and research. Once you're willing to put in the effort, you'll start seeing the results, and your business will grow rapidly.

Q & A

What is the first step to take when starting an e-commerce business?

The first step is to handle everything yourself, from content creation to strategic decisions. It's crucial to learn the ropes and gain experience before considering outsourcing.

When should you make your first hire in e-commerce?

The first hire should be customer support once you are overwhelmed with day-to-day tasks. This allows you to focus on scaling the business rather than dealing with basic inquiries.

Why is hiring an editor a priority over a creative strategist?

Editing consumes a significant amount of time, which makes it the primary bottleneck in content production. While strategizing and scripting are important, they can be managed by the business owner in the early stages.

How do you come up with script ideas for e-commerce ads?

Script ideas are derived from browsing platforms like TikTok, exploring forums, and reading comments on social media. The entrepreneur also uses their creativity and knowledge of the product to brainstorm new angles.

How important is testing different ad creatives in e-commerce?

Testing creatives is crucial, especially when products are complicated or have multiple angles. It helps identify what resonates best with the target audience, ensuring the highest return on ad spend.

What is the biggest mistake people make when scaling from a few hundred thousand to a million in revenue?

A major mistake is not testing enough creatives or stopping tests too early. It's important to be patient and let campaigns run long enough to gather meaningful data before making decisions.

What advice would you give to someone just starting in e-commerce?

E-commerce is not for those who give up easily. Consistency is key, and it's important to avoid distractions like shiny object syndrome. Stay focused on testing, learning, and improving continuously.

What’s the main difference between a product that scales easily and one that requires more testing?

Some products are straightforward and don’t need multiple angles to succeed, while others are more complex and require testing different approaches to find what works best for the target market.

What are your long-term goals in e-commerce?

The long-term goal is to build an empire of automated stores and brands. The aim is to scale by focusing on automation, reducing hands-on involvement, and eventually investing the profits in real estate and other ventures.

Why do you avoid engaging too much on platforms like Twitter?

Social media platforms like Twitter can be toxic, and the focus on comparing success can lead to distractions. It’s important to avoid getting caught up in the noise and stay focused on building your business.