NEW 2021/2022 Shopify Business Model

it's not very often. i recommend that someone watches something all the way through or does anything all the way through, except this video. this is going to be one of those very rare exceptions. the reason for that is because, if you're in the e-commerce space at all in any way, it doesn't just have to be what i do: anything in the e-commerce space and anything inside of the advertising space. this video is either going to help you potentially change directions in a much better way- i'll tell you that from my own experience- or it's going to be that one little last step that you might have been looking for to just get you to that next level. maybe you're struggling to find that winning product or to scale the business. i'm gonna kind of go through all that inside of this video, again, keeping it as simple and as short as possible, so make sure to drop a like on this video, just for reference. if you want any resources, those will be linked down below. i'm not going to mention those throughout the videos. we do have our ecommerce program, our facebook ad program and if you want any information about how you can completely automate your business- which is kind of what i'm doing from a different perspective- we're going to tok about that here. you can do that through our advertising agency, where we partner with people. we automate their marketing assist with things like ad accounts, payment processors and then, you know, scaling facebook ads. so that's what we do really well. you can put a free call with that. down below, check out the programs. there's a little discount going on. so make sure to drop like. you have any questions. you can hold it till the end, drop in the comments, do whatever you feel like. but let's jump right into this video. all right. so i've pretty much been doing arguably the same thing for that's. it's a little over four years now. time flies. i'm headed to the gym right now. it's the next day after i filmed that clip. but boring is usually good inside of a business structure because it means things are just kind of clockwork. you know chugs along, you're making money. it gets very systematik and very automated and there's a lot of benefits to that. i saw a lot of pros to it i also. it took many years to start to kind of dissect these notike a lot of cons. it was more so personal stuff. i get really bored very easily. i like to start new things, i like to try new things. that's made me a lot of money and in certain situations, it's costed me millions of dollars, like in the beginning of 2020, i lost over a million dollars trying new things in like a two-month window. so, you know- and i i don't say that to brag at all, because i know people who spend a lot more on failed ventures and try crazy stuff, but i just say that because it'll help tie this story together- i try a lot of new things and, uh, that has led me again to finding certain things that really helped. so, you know, learning e-commerce again in a different way is really unique and, as you, as you're going to see in this video, i'm completely restructuring how i control my business and how i run things, because i'm a very detail-oriented person. but in certain situations, to scale effectively and to build the life that i want and that i desire, it's going to take me not being as detail-oriented, which is difficult because of my ocd around every little detail and my adhd, which makes it tough to focus on certain things. i figured out how to just work and chug along for 8, 10, 12 hours a day, no problem every day of the year, but i kind of have to pull back from that to change things. so, as of right now, what we're going to tok about in this video, i almost never touch any ad accounts. i never run any ads. i don't build any websites, i don't write any emails. i do next to nothing, and very soon i'm actually going to be deleting social media off my phone for all but two days every single month. so it's going to be really interesting and i i truly, as of right now, cannot possibly tell you how i plan to fill my time. you know, i would say real estate and other things i'm super passionate about in terms of longer term work and investing, but i mean general company oversight doesn't take a full day's work every day of the month, so i'm not really sure how that time is going to be filled, and it's going to, you know, lead to a lot of other questions and potentially new things as well. so it's going to be really interesting. let me hit the gym and then let's tok about it like the old days: say hello, putting you on the news. [Laughter]. all right, we're back in the lab. i want to tok through this and explain- i think it's four things total- that i've i've kind of moved away from just inside of the e-commerce business, which, again, is what this video is focused on. it's a lot about what this channel is focused on. um, there's kind of four things that i didn't really enjoy inside of it. now, when you're first starting something, you're wearing- this is what i call wearing every hat- you're doing everything. you're the janitor, you're the ceo, you're this, you're that. you do every single thing and as you grow and as the capital is available in the business, you've sustained the cash flow. now you can afford to start to bring on other people. so, as time went on, i had no problem doing everything. i didn't really think twice about it. my days were so full. from the moment i woke up it was boom, go time, full energy and somehow full focus for literally literally 16 to 20 hours. it didn't make any sense. it's very difficult to do that for me. now, however, now that i've been able to kind of do this over and over and realize there's certain aspects- the business- that, either, i didn't just enjoy as much, which is totally fine. it's not a negative thing. there's gonna be things you do that you don't enjoy. that's fine, and that's always part of it. however, there were things i realized i also wasn't the best at, and discerning the difference between the two is really important, because there are some things that i enjoy doing that i'm definitely not the best at, you know, and, uh, i try to just push that to the side so i can focus on the one or two things that i believe i'm good at that have proven results. so for me for a long period of time, that was advertising, specifically not touching google ads, not pinterest. tiktok tried all those things. i've learned the very basics so i can understand the language, the code, the code words used, and i can read the platform if someone brings it to me or i need to see something. but it was facebook and that was really just like the one thing. so for a long time i slowly started pushing everything else around the e-commerce business away from me, except that one thing. now, four years later, and it's such an interesting thing to even say and think about- now i'm having to take that core, that one thing that i don't want to say. my identity was built around it. but, kind of, my friends know me as the facebook ad guy. they know me, as you know, this kid skills aggressively. he's very aggressive with how he does it. he's ridiculous. you know, if we have an offer that's working, we'll go to him and ask for some help. just you know he can fool around our ads for 10 minutes and suddenly the sales double. that's my thing and i really, truly enjoy. there's nothing i do that's more fun, except running facebook ads at a high level, like there's nothing i do that i enjoy more than that. however, i realized to grow, i needed to outsource that, and i could. now i don't think it's being done, or has been done yet with as efficiency and as much skill as i was doing it. maybe that's a little bit of ego, maybe it's just my own opinion on it. i truly believe that that's. that's how i feel about it. now, the people who are working inside of my advertising agency, as well as the two people externally that no clients can touch, that are my people that work on my stuff. some of them i've trained from complete scratch. some came with the base knowledge, others were super, super good and i just kind of helped them and help them out with further stuff we dial in our str.

Integrate Angle 3D Configurator on your Online Store 2.0 Theme in your Shopify store.

hi maia from angle 3 here. so in this video i'll show you how to integrate angle 3d configurator on your online store 2.0 team. so please first make sure that you have a working 3d configurator, like this one where i can change color and do several other things. and second thing, let's open your store on in shopify admin, right, so click here and back to shopify right. once you get there, please click on online store. please make sure that you're using an online store to that o theme- uh, like this one done- which is a default online store to that other in shopify, but yours could be different. then click on customize. so the first thing we will do is show how to integrate angle 3d configurator on the product page, sorry. so here you click on product and then we will create a new template, right, so you click on create template, so we will not affect all the products on the store, only the one that we want to affect. so, with this template could be called, let's say, 3d customizer and we click on create template, right, so you see, the template is really similar to the one from shopify. so what we will first need to do is hide it. hide the default product template, right, so we click here to hide it. and second thing, we will click on add section and we will have this angle 3d product page upload. that will appear and we click on it, right, so you will see it will appear automatikally and automatikally load the product, because we are on the product page, right? so this is all you need to do. and then you click on save, right, so you see it appearing here. the next thing we want to do just go back to angle 3d configurator quickly, click on the product name, click on view product in shopify admin. so there's two things we need to make sure so all of this works. first, the product status: it needs to be set to active. second, the theme template needs to be set to 3d dash customizer, the one we just created, right? so by default it's using the default product and we will use the one we just created and click on save, right? so this is all we need to do. we just click on preview and we should see our 3d configurator appearing on the product page instead of seeing the default shopify template. so here we have everything we need, exactly like we configured it in the app. so the second thing we could show is how to integrate angle 3 configurator on any page. so, for example, let's show it on the home page. so you click here, home page this time, all right, and it will be really similar. so we click on add section right, and at the bottom we have angle through the custom page this time. so we click on it. the only thing that is different this time is that we need to select which product we want to display, you know. so we need to select a project, a product that has a 3d configurator, of course. so we click on select product and let's select the same product as before and go through the ladder bag, select, and there you go, we have exactly the same configurator that appears on the home page this time. so this is my home page. it's really basic, but this is my homepage and basically we can also move this section like any other section, right, we can put it at the top of the page. i could also change the product. you know, for example, this one that also has a 3d configurator in the app, of course. and also i will click on select. so once this is selected, i can click on save and go back to the store and go on the home page. so there you go. we have a loading uh three configurator at the top of the page. you know this is my home page, but at the top of the page we have the configurator that we actually included in the home page. so this is how you can integrate it on your online store to that pro theme. if you have any other question, please write me at support english phillyco and i'll be there to help you.

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3D AR for your Online Shop

14 juli manchester colours. termin lag die isv. realistisches look, herr jan hier. welcome back to coding jahren. entweder er ohne show you can use am freitag models ein evans am features fragmente werdet ihr unis dort passte massiven testo packard home. bevor es stimmt, dass meine super interesting to anyone with wedding furniture, dekorativen mechanical parkway einer party bei der tk schnell background engineering and has some really get much stürmen base. letzte video: rheinhessen kann bereits hier ist die ausland foto, deswegen förster foul, aber diesmal in the new ethics of product media search of the universe and track and the mechanics upload für die model to restore, produzierte, test and damage, tolle features and doing the process, alten auto schwärme von when they might be useful and the money to increase of conversion. sandy and all of you tips for you when it comes to three die model acquisition, die kosten dort erfuhren, also für die produkt model lane around on the hard drive der roulette geht startet ok. first of all the things that many people don't know about. habe vorher extra zur upload videos im mp4 format of three die models in der gp vor mit director product and since des action auf features defence of media and is no longer limited to image is only is currently the us that medias, wann fing der hälfte menschen ist. der erste feature ist die relative to use modern phoenix am code. modifications tun oder frieden. das motto händel dienste von tribes of media and for instance der dev team ist kate überlauf handling, keystone: die files sitze 2006 team in die für nach kuwait on. you sing it. just go to the action button. enteilt kathryn ab. viel fehlt amri looking for fire, das colt settings underscores klima, das located, denn der konflikt in drei jahren. top mitglied des team virgin using 604, using a completely different things to find out of skate überlauf handling, wies files. wenn die coaches testet otto find, that makes a product gallery in most likely to find. the project template ntpc in mohmand rennteams, der lupo war every media objekt in der projekt media and in der duster findet in older teams live interview version wird ihm am nilufer der projekt images and even look vn iq media service mit indicator as well. that comes the fun park, weil die ablöse für die model ein test and play that oder mit spray. tolle features, defizite: der blb pfeil an, der computer erkennt, just drag and drop it to the media section, internet uploaded and process automation. es hat in den beginning mit beton gebaut. teil exotischen ländern, das von es beim provider, bei chopard, dem 'entry canori tell you ist, mit dem file size kennt, exit, 15 megabyte, vorinstanz des wohnheims, 25 megabyte, dass die uci fordert, bei des long, as you stayed, 15, 11, 1, 1 audio files uploaded, mit den ohren haut, lux on the front, and we have really model ähnlichem zu erkennen. drag and drop it around and actually und des screen recording themes länge wird die hand bat immer. browser, windows lag super smith entwickelt, formulierte von engels der reflektion heute genau zu: du bist zoom, zoom, auto rallye, feeling vor ort, kein offizielles used optik und eben understand, how des systems mounted, services or any of fantastik way for customers to get familie kontakt, the show, what to say? page looks like ohne smartphone des westens gelten really interesting experimente. hätten kredite, screen recording, iphone. eine first glance seem like the pages very similar to the desktop version, ein mini heft für die modelinien road to get around, ziel von prospektiven zoomin enzym outlet center desktop version. but what is really really special about this view ist, wie heftes view in space button ein monster klick wert wurde lounge dokumente, reality. cologna von jeffrey kombat wird, wo die medien bringen ab september and pop die optik inter existence ein wenig and place in your room on sea locken, literally walk around ihr objekt einziehen von positiven perspektive und cfd. objekt 14: rooney ist manchester kallas termin lag die uci horia, listiges look like the amazing camping scared to me. this is just mind blowing and tiknical. representative make things about the patients der take place because the camera to capture the images and any zugeht prozess in somewhere wird decken. extract distinct reference points: internettexte: james kottak, data vom jv und touren, david reddy, model von der respekt ist apples in realtime in werner toking gewaltsam fans. die supercomputer ist das smartphone auf das tiket in your pocket. einem instinkt, abroadband zu wollen, fazit online. you imagine terry des hybridantriebs, something we're here is the future of work and sometimes they built into the model told the table act in the bag ist in white cube als overlay das wachstum nach wie vor begehrt unter meine tipps und für die model acquisition: bv ii, diaz an concessions, waverley, tbs in der first place micro die die ressorts personal beliefs and don't have any actuate data to back with up to something you sleep and the city. that much german endurance letzten internet benefit zurück. konzentration number one is all about increasing the conversion rate. linke special ecommerce der enni anzuhalten, die zielgerade gebracht wird, can easily private user von ex libris sensation die tische expectations and think we ist wie die models are, great way to interact with the product, familie, product and expected dem lieblingsessen konzentration numbers to bring der return rage pauli, mathias m riesen, gaudi. customers are die familie, the product. and yet opportunity to test in news room with everything für cewe, color, matching des gastes zu satellite expectations, consideration der batterie, erste bauteil, tiket, items wie costa klink ließ, die models oder pager product quality and the last konstellation ist er baut engagement in just cause for me do. doch fun to play around with ist augmented reality features, live shows zusammen of my friends, the waiting to the great way to boost engagement an ihrer seite. finally, we can tok about für die model acquisition ball at the future von waste watcher ist heute turm aus dem portal thru geben, meint a der paraguayer needs to be in der deutschen formel, ente faist, chemtec sieht 15 megabyte. so, regardless of which of the following ways to use the deathly netproject images vom alle relevant prospectus and what you need to label, dann wenn die resonanz of measurement way to kick it tools model auf ihr produkt, ein action shot with the great help artikel on the deadly linke da und individuen, die first ein most likely, wie sie ist, weight of product model for yourself would be heading auf der tastatur shop bei expert, actually kein filter. der export marketplace for creation of queen models für augmented reality also helfen. work wird endlich auf lead agency, selva, country director and anything you might have to make. you experienced ihren. bart muss gleich live going to be using some of the more kommen sowie die modeling software-suite: blender in photoshop, baby gehört of summer, of lies, des direct, übrigens astor option numbers to which is do it yourself abrutscht die kost von most. doch dieses programmes sich ein feind. barry bietet tutorials online for free and the fear projektes natur komplex, jemand even be able to get diesen results and day out to end mobilcomputer free world option und bietet eine expertin any of lies programs and even be auszeit. ich habe die kosten. conference & fire watch for photoshop länder. die uhr lief ein teil des offerings: modeling, etikett, des customer care, mapping. the deal der naturetec model ist auch die going to be interesting for people that we have the model in some sort of computer aided design, software download squad, engineers used to the mechanical parts for complex systems, inc. next week on the peace files to watch before it and ion ist iphone des message to be a bit of der hesse, die conversion and more often than not, raiffeisen-leasing. heute, color information agency ada generated images of the model behind the scenes. politik allerlei. erster method ist so kosteneffektiv.

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3 Types Of Subscription Business Models ( And How To Start One! )

convenience is so important to consumers today, so it makes sense that 15 of americans have signed up for a subscription box now ever since subscription box became popular in the early 2000s. they really show no signs of slowing down. by 2025, this industry should reach 473 billion dollars. that's billion with a b. so if you're on the fence, maybe you're not 100 sure. if you actually want to start a subscription box of your own, i'm here to tell you that there's definitely still a market for it and it could be a potentially very lucrative business to get into. it might sound easy, you know, just throw a couple things in a box and send them off to your consumers, but between product sourcing, getting your customers to actually sign up for your subscription box, there is a lot to keep track of. so in this video, i'm gonna share the top three subscription box models and how you're gonna actually run your business. all right, so let's get into it. there are three types of overarching subscription box models. we have curation, replenishment and access. now, depending on what you're selling and what phase of your business you're in, throughout this video, it's going to become clear which model is going to make sense for you. the curation business model is by far the most common. so birchbox is a really good example of a business that uses the curation model. if you're not familiar with birchbox, basically what they do is they take beauty products from existing brands and then they bundle them into a very personalized package for their customers. the point of curation subscription boxes is to really surprise your customers by giving them products that you know that they're going to love. so you can find out more about your customers by getting them to fill out a quiz before they sign up, and this model also aims to introduce customers to new items they might not have otherwise known about. so the curation business model is all about surprise and delight. if you choose to go with this model, there's a lot of benefits that you could potentially reap. so, first of all, there's a very high profit potential. so customers can pay anywhere from 15 to 100 a month, and if you think about that, compounded monthly, that's a lot of profit that can scale very quickly. now, on top of that, they might also promote the discovery of new products that you carry. so, for example, birchbox, if a customer discovers a product that they love in their box, they can buy it again directly through birchbox and earn a discount. so offering this type of service can really help you diversify your revenue streams and increase your total profit. so the biggest risk here is high churn. so what tends to happen is that customers get really excited and they sign up for their box, but then eventually the novelty wears off and then they'll end up unsubscribing. now what happens? for you as a business owner, this basically means that acquiring new customers is going to be expensive, since the average lifetime of each customer is not that long. plus, since these products are typically non-essentials. subscription boxes are really going to thrive when the economy is doing well, but you know, as soon as we hit a recession, these are typically the first to go. another thing to note is that they are quite complex operationally, so coordinating brands to carry in your subscription boxes is definitely a hurdle that you're gonna have to overcome. um, and then the cost of packaging and branding and shipping is considerably high with subscription boxes. so, that being said, who is this model right for? well, it's pretty typical for businesses in beauty, clothing and food to really hop on the curated subscription box model, but if you're not in any of those industries, that's also fine. there has been a lot of uptake across a multitude of industries for this model and it's just expanding every year. if you have brand connections within a specific industry, then you're gonna have the right connections to start getting products to actually go into your box. so in that case, a curated subscription box might be right for you. it's also right for the type of entrepreneur who already has a niche contact list. having a contact list is going to make it so much easier to start marketing your new business and start reaching out to new potential customers. now, if you don't fall into any of those categories, then no worries. this model is also right for an entrepreneur that is just starting out and starting from scratch. but if you do have a pre-existing business and you're wanting to use the subscription box to support that business, then the next model that we're going to tok about might be right for you. if you're here looking to get started building an online business, but maybe you're not sure what to sell and you need help finding a product, then i definitely want you guys to make sure that you're checking out our free 40-minute webinar that's going to teach you how to find winning product ideas, how to validate those ideas and then how to get started. so i will leave a link for the webinar for you guys in the description box, um, and if you're wanting to get started, you can click that link and get started with this free training right now. the replenishment business model is going to be all about convenience and cost savings. so the way that this works is: a consumer will choose to automate the purchase of essential items and then this will usually come at a discount to them. now, most products don't need to be replenished regularly, so the type of products that you're actually selling will have to make sense for this business model to work. so you'll need to be selling, um, consumable items, for sure, and convenience items. so think about, you know, like razors, diapers, pet foods. those are the type of items that would be a good fit for the replenishment model. so amazon, for example: they have a program called subscribe and save, and the way it works is you get free shipping. you might also get a discount if you sign up for auto deliveries of essential products, um, like toilet paper and that kind of a thing. so these programs are definitely floating around and it's something that you can replicate as well. the main benefit of this model is that you're going to have higher retention rates because your products are actually fulfilling a real need. customers are just going to stik around for longer. versus the other model that we just toked about, it's been shown that 45 of customers stik around for at least a year. with this business model, you might have thin margins, you're gonna have to compete on price and you're gonna have to offer some pretty generous discounts. so if you do want to make this model work, you're going to have to really keep your costs low, just operationally, and you're going to have to focus on operating at scale. so you're going to have to sell a lot of boxes to make this profitable. so who is this business model right for? well, if you already have an existing business and maybe you're just looking to find a way to keep customers coming back for more, then this model can really help increase your retention rates and it can help increase your total profit. also, if you're thinking of starting a drop shipping business, you can definitely use this business model. um, really, just start slow. start with a single item and that will just help you hit the ground. running access subscribers pay a monthly fee and then they get access to lower prices or membership perks. so it's kind of like costco or kind of like sam's club, but in subscription box form. so i'm not sure if you've heard of just fab, but justfab is an ecommerce site and it offers members discounts on their shoes and purses that mimic high fashion styles. so members pay a monthly fee and then they get access to these styles. so the access subscription model is basically going to offer a sense of price exclusivity to their customers. with this model you can really play up the exclusivity card so you can really entike customers to sign up and really stay with you, because you kno.

Valuation: Shopify (SHOP) Company DCF Stock Valuation, Analysis and Model

hey everyone, welcome back to the channel. today we're going to take a quick look at shopify through together a dcf on them, walk you through my assumptions there and tok a little bit about the company. if you're not familiar, they're a canadian based, basically like payment processing checkout company. so if you're on like an online shop, most of their customers are small to medium-sized businesses. um, the e-commerce platform is probably ran by shopify. they have about 1.7 million retailers on there. current stok price: uh, what is this? 1100 market cap of 150 billion dollars, which is pretty bonkers, um, honestly. so if you're not familiar, they're canadian, so they're listed as an adr, so they're not going to have a 10k, they'll have a 40f. if you go to the sec website and it's broken out a little bit differently. so normally you can just click on the top link for 10k and everything's kind of like in that first link and this you have to get a different one, so this will just be kind of like: overview of the company is the first piece. then you have the financial statements. i want to say, um, yep. and then you have the mdna, which is exciting stuff, and then you have, like, the auditor's note, some other things. so very similar to a 10k. honestly, i think there's probably better information in this than a 10k, at least from what i you know. reading through this i was like is presented a little bit easier to find everything you're looking for. but real quick, high level, i'm not getting anywhere near their valuation and so my weighted average cost capital. this is a question i get all the time. how do you calculate that? well, i have a video. i calculated whack for them, just because, honestly, i think whack is probably a little low in this instance. but 10.1 is what you get if you actually use like cap m and the weighted average cost capital formula. i think they're probably a pretty risky company, especially at 150 billion valuation, and i have some notes here. so feel free to download the model and read through these. these are just notes i pulled out of the 40f. this is kind of what i do every time i start. i'm looking through and you know pretty interesting company. i always thought shopify was just kind of the cart, like the checkout cart, but i mean, really here's like a list of all their things. right, they have a little bit of advertising revenue. shopify capital is pretty interesting. this was kind of got pretty big during the pandemic. basically, they'll give loans to small businesses for working capital. shopify pay is basically like a firm is a big company but shopify, you know, you can have a payment plan through your cart and then shopify handles everything in the background and as a merchant, you still get paid instantly. they have a shipping and fulfillment, which is what they're expanding into pretty heavily. so that could be an interesting piece of the business and where i'm giving them pretty good credit for growth: pos. this is just like square toast, anything like that. it's just like you know card reader that you'd have attached to an ipad or something in a shop. and then email is kind of like their attempt at a cmr or crm sorry service where you can run marketing campaigns. so there's actually a lot of really interesting revenue potential areas here, but there's only two that they really break out for us from a dollar perspective and that's subscription, which is just like the plot, like 50 bucks a month for their basic platform to basically host an online store. and then the other big one is um, shopify payments, which is like payment processing through the store, um. so yeah, it definitely interesting. if you don't want to read through the full 40f, i took just some high level notes here to get you familiar with the company. but income statement: so they break it out- subscription solutions and merchant. so merchant. so subscription is really just like the 50 a month is like the basic and that's what, like most of their customers are on. and then they have 10 000 customers on the, the subscription plus service, um, but the basic one is like 50 bucks a month. so i mean you know almost a billion dollars coming through this, but they have 1.7 million customers- is what they said for 2020.. and then merchant solutions: this is going to be mostly payment processing is a good chunk of this revenue and then the remainder is just all the other stuff and you can see kind of the margins and how they're. obviously the merchant solutions- fifty percent margin, which is still great, um, but that's mostly the payment processing. you know there's actually cost to process payments. and then subscription solutions is a pretty good margins because, like now that the application's developed and up and running right, it's pretty easy to scale. that break out all of the, the opex. so this is just for the income statement. then they do give us for dna and amortization. they break it out by segments. we back that out and stok base comp. so what i mean by that is if you were to come check the formulas over here, you'll see. for cost of goods i took it out of the merchant solution just because it's the bigger line, but you'll see, like the subtractions up here in the formula bar. and same thing for sales and marketing because we we're trying to get ebitda so we want to back out depreciation amortization. i also backoutscom because it has a non-cash. i mean it like it's not cash from the standpoint of like the company doesn't have to lay out cash but it is diluted to a shareholder, so does it? it is bad, but um to the shareholders, but it's like non-cash. when we're trying to get just pure unlevered free cash flow, the difference is like let's get this gets us a equity value, but obviously over time um, there's more shares so it's kind of diluted more. so if you were to convert spec to share price based off current outstanding shares, you may have to- you could do some calculation, but i don't touch that um. and then to project out the revenue, i'll show you what we did here. so they give us a handful of interesting stats. so they don't give us the exact shopify payments. they like gave us in 2020 the growth rate from 2019 and then the dollar amount that it grew. so you'll see i have like plus. so it grew by 835 million and i knew it was 121. so then it's like i had to just calculate what the base here was and then get this and similar thing for these other years. so i've backed into these shopify payment numbers. they don't give them specifically to you in the 40f, but they give you enough information to get to it and then you can back into the other just because you know total merchant. but the other is really like the fulfillment, working capital loans, things of that nature that we we toked about a minute ago. the subscription revenue is pretty straightforward and i'm not entirely sure something seems off, but they give you the monthly recurring revenue for subscriptions and i guess they don't give us the retention rate. so maybe that's the difference. so if you take this monthly revenue multiply by 12- that's what i've done here- you get these numbers, but you can see like this is actually higher than the subscription revenue. so my guess is, you know there's the retention issue, um, so there's clients always leaving, right, so you don't get necessarily a full 12 months at this, but, um, i don't know, that's just kind of what they gave us, so best proxy i could come up with there. so now i'll tok through how we kind of projected out the future years revenue. so first we'll start with the easy one. this is the subscription revenue. right, we can see monthly recurring revenue growth: 62, 37, 32, 53.. so, um, i just kind of i've assumed a lot of small businesses- this was kind of a pull forward- a lot of companies that weren't web enabled- scrambled during covid and they got web enabled damn quick and shopify was the platform that allowed them to get web enabled very quickly with the store. so in reality, right, this growth here, we're probably not going to see similar levels of growth to 2020 and, unfortunately, pretty sure their stok.

Shopify Business Model Explained 2022

hello everybody. in today's video i'm going to be giving you the best shopify business model that you're going to use to run your shopify business and making sure that you're actually successful the very first time you start a shopify business. guys, when i first started, i wasn't, i didn't have the luxury of utilizing shopify. shopify is now a better, more advanced tool, at least for some of the stores out there, and i had to use old tools kind of that were outdated because i was limited on budget and i didn't really know much about the marketing in the internet world out there. it was my first time starting a business about seven years ago and i figured you know what i could make this work if i just stik to it, and i had to learn things the hard way. but we live in a world now where i'm going to be using a white board where i can show you this new shopify business model. so make sure you watch the video all the way till the end to learn about how to set up your shopify business. so let's go ahead and just reverse engineer the process, and when i use this whiteboard, i'm going to be explaining a lot of different things, so if i use abbreviations, make sure you're listening clearly to exactly what i'm saying and make sure you're also taking notes for deciding how you want to set up your business. okay, so in general, i'm going to create a little diagram over here and let's just call this this. i'm going to draw like a little box here and let's say: this box is your business. okay, so, whatever you sell- let's say you want to sell supplements. let's say you want to sell hair wigs. let's say you want to sell clothing- it really doesn't matter what you want to sell, but let's say you have a business here. the whole point is: you want people to visit your business. can we all agree on that? we want people to visit our business right now, the more the merrier. can we agree on that? like, for example, if i sent a hundred people, that would be better than if i sent only two people to my business. can we agree on that? right? we can all agree that the more people that visit our business, the more money we'll make. right, and maybe not everybody will buy from our business, but we'll make some sales. so essentially, we have the basis of any business that needs to succeed. it has to have visitors to that business, whether it's a brick and mortar location, like a physical location, whether it's a pizzeria, whether it's a mall, whether it's an internet business, it's all the same in the same. it works with shopify, right, shopify is one of those things, excuse me, that we can use to build a business online and our shopify store is that actual business. so i'm going to draw another box here that represents our shopify store. okay, and what i want you to, you know, kind of picture this box. as for this business, okay, i want you to imagine it as, like, a cardboard box that's empty right now. okay, and they're gonna be elements that we're going to add to our shopify store. that's gonna make us have a better business. okay, we're gonna make more money, we're going to generate more sales, things like that. they're going to be certain elements that we can add, but, in general, we want visitors, right, to come to our store. well, we know that. let's say, if we send a hundred people to our store, okay, well, we know that not everybody's gonna buy. maybe five people will buy, maybe two people will buy, maybe 10 people will buy. well, that number out of a hundred, right, that fraction, whether it's, you know, x, let's call it x for now, whatever that number is, i'll just write it over here: x over a hundred. okay, this is what's going to be our conversion rate. so i'll write a little here like a c rate, conversion rate. now, conversion rates are very important. it's important you know, memorize what a conversion rate is and the formula x over 100, because this will tell you how many customers buy your products, right. and so, let's say, i have a 5 conversion rate. really, what that means is that every time i send a hundred people to my store, five percent are gonna purchase. okay, that's five over a hundred, right, five over a hundred is five percent conversion rate, and it's important to know this information because you have to understand that this number can change. that's the one thing that a lot of people don't recognize is that you can change your conversion rate right. this is actually something that i learned is the most important thing in my whole entire shopify journey of actually succeeding, creating a business model for your shopify business, uh, and, and actually expecting to succeed for me came from controlling what my conversion rate was, controlling the outcome of the success of my store. remember, guys, whenever i say conversion rate, i want you to see dollar bills, i want you to picture dollar bills. the higher the conversion rate, the more the dollar bills. okay, uh, maybe i should actually write it in green: okay, dollar bills, baby dollar bills. okay, the more the. the higher the conversion rate, the higher the dollar bills. now, every business needs more dollar bills. we can all agree on that, right, we want to live, uh, financially free rides. we want to be successful. we want to make money. well, part of that is by succeeding with our business. okay, so we want to send people to this box, right, our store. but we also want to make sure that as many people as possible actually purchase. right, it would make a huge difference. let's say our average product was a hundred dollars. okay, if we sent a hundred people to our business and five people purchased, well, that means we made five hundred dollars. right now, that's not all profit. but let's just say it's 500 in revenue. well, we can make the same argument. if we sent, let's say, 100 people and 60 people purchased, that means we did 60 times 100, which, in this case, right, what's the math on that? 60 times 100, somebody, let me know, that's six thousand dollars, right? so would you rather make six thousand dollars off of a hundred people, or would you rather make- um- first of all, i don't even know what that was- sixty, uh, would you rather make six thousand dollars off of a hundred people, or would you rather make five hundred dollars off of a hundred people? you'd probably make six thousand, right? well, there's actually no limit to how high your conversion rate could be, but these elements are what control your success. before we tok about the elements that control your success, let's tok about how to actually get people to your store. now, what would we call that, right? what keyword can we call that for taking people and bringing them to your box, to your store here, to your shopify store? what would we call that? we'd call that traffic, right? can you guys think of some way that we can generate traffic to our stores? can you think of some way? you know, maybe you guys could just spit out some answers here. let's let's list some. okay, let's list one of them. what's an example of a way that we can bring people to our, our store? blogging, blogging is one way, right? so for some people who might ask what is blogging, blogging is actually really simple. there's a section in your shopify store where you have a section that says blog or pages, and you get to add blog posts and basically what these blog posts are is they're written artikles, right, that google picks up. so, for example, let's say, you sell dresses, right, and you have this brand new 20- 22 summer dress coming out, sun, a sundress, right, and it's got like these little flowers on it and all this. it's real fancy. well, something you might want to do is you might want to do a artikle about, let's say, the best 2022 sundress for women, right, and women are gonna search for that, that phrase, they're gonna find your artikle and they're gonna read your artikle and they're going to say, hey, i want to buy from you. and they're going to guess what show up, just like this person here to your business, right? so that's one way we could bring in traffic. what's a few more ways we could bring in traffic? uh, ads. ads is another way. well, ads is a big thing here, guys, because ads is one of those things.