MitchC
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Sounds like you are killing it, nice
Makes me think maybe I should go back to dropshipping, so much easier
However it has the exact problem you are facing, competitors can steal your ads site and product and be up and running in a day
You are talking a lot about moats, but all of them are just better marketing, that’s not a moat
How about a better product? A custom product? Not dropshipping so shipping times are faster?
These are hard and expensive things that competitors can’t steal in a day with no effort
That’s the path I took, I’m not sure it was the right choice as it hurts margins and holding stock and ordering stock creates a level of complexity and cash you need to scale, but the business has survived for years now and competitors come and go and can’t touch us
The other moat you did mention, a good back end, this doesn’t mean an abandon cart flow, this means getting repeat purchases and referrals
How can you do that?
Well the first step is having happy customers, which is where the fast delivery times and better products on the front end come in
Then you just need more good products to cross sell to existing customers
You’ll also naturally just get reorders for the first product as people’s break or they want to give one as a gift etc
Seems like you have a good market to scale into, I think you are just thinking short term like a dropshipper and aren’t understanding the potential
Makes me think maybe I should go back to dropshipping, so much easier
However it has the exact problem you are facing, competitors can steal your ads site and product and be up and running in a day
You are talking a lot about moats, but all of them are just better marketing, that’s not a moat
How about a better product? A custom product? Not dropshipping so shipping times are faster?
These are hard and expensive things that competitors can’t steal in a day with no effort
That’s the path I took, I’m not sure it was the right choice as it hurts margins and holding stock and ordering stock creates a level of complexity and cash you need to scale, but the business has survived for years now and competitors come and go and can’t touch us
The other moat you did mention, a good back end, this doesn’t mean an abandon cart flow, this means getting repeat purchases and referrals
How can you do that?
Well the first step is having happy customers, which is where the fast delivery times and better products on the front end come in
Then you just need more good products to cross sell to existing customers
You’ll also naturally just get reorders for the first product as people’s break or they want to give one as a gift etc
Seems like you have a good market to scale into, I think you are just thinking short term like a dropshipper and aren’t understanding the potential