Sabir and a co-host discuss managing e-commerce growth with the same discipline you'd use for a Schwab or Fidelity account. They cover cash flow, money management, and how strategic content adjustments help you avoid bankruptcy.
Sabir was telling me or teaching me about you got to manage your E Commerce business like your Schwab, your Charles Schwab or Fidelity account, which was very insightful. Sabir, if you want to touch on that.
E Commerce from my experience requires money management skills, right? Just like you would trade on a Fidelity account or Schwab, you would trade with stock market. If the stock is going up or down, you need to trade it or you want to buy options. The same applies. Where's the attention? On which platform? What sort of content would bring more attention? Which one is not working? I need to change or I need to eliminate, come up with a new content, right? It's about that, you know, and not about just. And especially you know. And I apologize, I know your agency, right? But if your agency doesn't have money management skills, pull your money out, pull your brand out of that, out of that facility, right? They need to have money management skills. They need to understand what your gross margin is. Because the thing is you're going to be scaling your brand. Where is that money going to come from? Either it's going to come from your cash flow because the ROAS is working gangbusters or you're going to go to the bank and beg for money. And now you have a debt on your hands that you need to pay off. And eventually if you don't manage that debt properly, right? Good. There's good debt, right? If you don't manage that debt properly, bankruptcy, right? And this is one of the reasons, if you have, if you have noticed that in December Black Friday sale we had gangbuster of a holiday bfcm, blah blah blah come January bankruptcy filing, right? This is the reason behind it. Because people don't. If you don't have the money, money management skills, proper money management skills, you think top line revenue is the money in the bank. It's not. Your cash flow is. And if you don't have cash flow, you don't have business. That's it. Period.
So what I heard was treat it like you're Schwab and Fidelity, you need to have a plan.
