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The Locust of Control

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Vitaly the Winne

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Now that I have your attention (I realize it's actually spelled locus, that was on purpose), after reading TMF, for those of you guys who are in ecommerce using platforms like Shopify/Amazon/Ebay as your storefront, what actions did you take when you relized your revenue was in control of another company?

Basically, did you find ways to spread out and mitigate the risks, or did you choose another fastlane road where you're in control of the product and the distribution system?
 

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ChrisV

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Internal Locust of Control

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Good one though. you definitely got me
 

Boychamp

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Personally, I don't find hosting your store through Shopify as really giving up control. Because you own the domain and IF you're building an actual brand, you're not entirely at the mercy of the platform (versus Amazon or Ebay where you're entirely dependent on them). If Shopify disappears one day, you'll most likely be fine as you can just transfer your domain to some other platform and throw up a new store (or hell, build your own).
The biggest things you can do to mitigate the risk of anything would be truly building a brand, leveraging your store to build up email/messenger lists to "own" traffic, and not being entirely reliant on one specific way to drive traffic to your store (IE one type of marketing being SEO, Google PPC, FB/Insta, etc). Other ways could also include branching out with a strong social media presence for your brand.
Again, to really beat the horse, brand is the biggest differentiating factor. Do you want a cellphone or do you want an Iphone? A chicken sandwich or a McChicken?
This wasn't entirely on-topic but hopefully helps :)
 

Vitaly the Winne

Bronze Contributor
Read Millionaire Fastlane
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Jun 4, 2019
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California
Personally, I don't find hosting your store through Shopify as really giving up control. Because you own the domain and IF you're building an actual brand, you're not entirely at the mercy of the platform (versus Amazon or Ebay where you're entirely dependent on them). If Shopify disappears one day, you'll most likely be fine as you can just transfer your domain to some other platform and throw up a new store (or hell, build your own).
The biggest things you can do to mitigate the risk of anything would be truly building a brand, leveraging your store to build up email/messenger lists to "own" traffic, and not being entirely reliant on one specific way to drive traffic to your store (IE one type of marketing being SEO, Google PPC, FB/Insta, etc). Other ways could also include branching out with a strong social media presence for your brand.
Again, to really beat the horse, brand is the biggest differentiating factor. Do you want a cellphone or do you want an Iphone? A chicken sandwich or a McChicken?
This wasn't entirely on-topic but hopefully helps :)
That's a fantastic point, and you're absolutely right :). The power of branding can't be expressed enough, and you can't sell a job, but investors will want to buy a brand.
 

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