E-commerce is still the fastest path to a million-dollar business, but competing on price is dead. Build a high-margin premium brand with loyal repeat customers instead, and position for acquisition in a few years.
I'm biased, but I still think that E commerce is one of the best businesses to start. There's more platforms today than ever before. There's more buyers out there than ever before. The game's just different now. It's my opinion that the low price game is just done. You've got to have a high margin premium brand with a core group of loyal followers. That is no longer an optional thing anymore. It is the playbook now. You've got to have the best option for a core group of people and then you can start to branch out and release other products. But the game of trying to be the lowest price and winning on a platform just don't think that is a good route for most entrepreneurs. This game is all about getting a group of people to just friggin love you. And if you do that, then they will buy from you over and over again. And then after you do that for a couple years, you get bought out by a big company that wants to give you millions of dollars. That's the play. The market's a little bit different now. There are more competitors now. But I still think the fastest way to build a million dollar business is in E commerce. And every year we have a new group of printed millionaires who did it in E commerce. So all I see is evidence for entrepreneurs doing extremely well in this sector.
