Navigating the Reality of Launching—and Closing—an eCommerce Business with Mike Stevens

Mike Stevens is one of the DTC pioneers, with 8 years at Innocent Drinks back in the 2000s, and then founding good-for-you confectionery brand Peppersmith, which over 10 years he scaled all the way to exit in 2018. He’s also the author of the excellent and bestselling and award-winning book “The Direct to Consumer Playbook: The Stories and Strategies of the Brands that Wrote the DTC Rules”.  Hit PLAY to hear: The highs and lows of being an entrepreneur Knowing when to transition your business, or to close it Considering product-market fit Opportunity cost and why it matters Embracing failure as a learning opportunity  Key timestamps to dive straight in: [05:58] Mike’s take on sustainability, functionality, his Amazon journey, multichannel business. [12:27] High acquisition costs due to low demand. [15:03] Real product, timing challenges, consumer purchasing shifts. [17:46] Running the business was full-time, unfeasible to leave on the side. [21:17] Considering opportunity cost over easy choices. [25:10] Passionate about purpose-driven products and consultancy. [27:05] Listen to Mike’s Top Tips! Full episode notes here: https://ecmp.info/516Mike’s previous episode where he talks about his book: https://ecmp.info/390  Download our ebook >> https://ecmp.info/ebook "500 Top Tips to Make Your eCommerce Business More Profitable" Download our new ebook... https://ecmp.info/ebook 500 Tips to Increase Your ProfitsGet all the links and resources we mention & join our email list at https://ecmp.infoLove the show? Chloe would love your feedback - leave a review here: https://ecmp.info/review or reply to the episode Q&A on Spotify.Interested in being a Sponsor? go here: https://ecmp.info/sponsor This podcast uses the following third-party services for analysis: Spotify Ad Analytics - https://www.spotify.com/us/legal/ad-analytics-privacy-policy/