hey it's patti scharf CPA and co-founder of catching clouds the leader in
e-commerce accounting and today I want to talk about not putting all your eggs
in one basket this video was actually inspired by and dedicated to Hector
Garcia CPA he's a friend and colleague of mine and I'm going to talk more about
him later but before I get into that I want to talk to all my ecommerce sellers
out there you know when when I first went into business for myself I remember
a lot of people were like well isn't that scary like like it you you have
this good job why would you quit and go work for yourself isn't that risky and
the thing that I always understood and I I think a lot of people didn't really
get was that I think it's a lot riskier to work for one employer who the your
fate your professional fate rests in their hands than it is to go work for
lots of different people so like if I have let's say I have five clients and
one client fires me I only lose 20% of my revenue I don't lose a hundred
percent of my revenue so I never really saw owning a business as risky as other
people said it was I think ecommerce is a little bit different because there are
so many people out there who are selling only on one platform maybe they're just
selling on Amazon and they may have lots of different customers but really if
Amazon shuts you down for reasons beyond your control
you really are you're kind of screwed you know that that's that's putting your
entire business in the fate of one company that's why a lot of businesses a
lot of e-commerce sellers will sell on multiple platforms they'll saw on Amazon
and Shopify and eBay just to have a little bit of diversity so if something
happens to one they don't lose all of their business
another thing and I see this all the time if people only have one payment
processor and then something happens to the payment processor or they shut you
down for some reason now you can't take on any more sales so
so a lot of sellers have at least two different payment processor types so if
one's failing for some reason the other one can pick up the steam and then this
is one thing that I've seen multiple times and it it always surprises me
every time I see it let's say you're using something like Shopify
you have a credit card on file that page or $39 a month fee and I don't know your
credit card gets hacked or something and they cancel that card they issue you a
new card and you forget to change the credit card that you have on file with
Shopify and then the month comes around and the $39 can't be charged and so what
Shopify will do is is it will hold on to any of the money that is collected on
your behalf until you rectify the situation pay them their $39 and we've
seen companies who have had hundreds of thousands of dollars held for weeks
because they didn't pay their $39 fees so make sure that you stay on top of
that one when you do it okay so now I'm getting to Hector Hector and I first met
and I think was 2014 or 2015 we were having a discussion about Intuit versus
zero and he's all in on into it I'm all in on zero which side note you might
think like contradicts they don't have you're all eggs in one basket thing but
there's a difference between specialization and strategic development
like if if I was concerned that zero was gonna go under he was concerned that it
into it was going to go under then you know we might have a different approach
but both of us feel like they're solid platforms gonna be around for a long
time they have no interest in shutting us down
they they they want to see us succeed just as much as we want to see them
succeed so so that's a different issue altogether but
but I met Hector in like 2014 or 2015 we talked about like why are you on Intuit
products why why are you on zero and we had a nice discussion we actually ended
up writing a couple of blog posts a few years back I'll put links to him down
below so you can read those it was really interesting anyway so Hector is a
force to be reckoned with he is just an amazing teacher everybody and then the
intuit community knows and loves him he is super passionate about teaching
everything he knows about QuickBooks QuickBooks Online everything else he is
on YouTube has like seventy thousand subscribers or something at the moment
and he's posted over 500 videos over the last I'd say four years so he's just
he's he's all-in on YouTube and and the world loves him right and for some
unknown reason about two days ago YouTube just decided to shut off his
account no reason given no idea what's going on and obviously it really has him
rattled but hey I want everybody who's watching this video to go tweet at
YouTube and ask them what the holy hell are you doing because it's just stupid
he is such such a powerful force in this community doing good and helping small
businesses and other accountants and everything that it would just be a
massive disservice to the world at large to take his videos down so everybody go
yell at YouTube about that but it reminded me of this whole concept of not
putting all your eggs in one basket he had he had such intensity about YouTube
and taught classes on YouTube and how to do everything and whatever that it
really kind of pulled the rug out from under him when they shut him down and I
have every confidence that it's going to come back up but but even so I think
that as a business owner you really need to take a look at what it is in your
business that are your most vulnerable points so that
you can protect yourself first for sure you like in Hector's case he had copies
of all of his videos so it wasn't like they just shut him down and he didn't
have all that information he can put all those videos on another platform and he
has such a large following he's going to land on his feet no matter what he does
but what if you have what if you're selling on Amazon and Amazon shuts you
down
building that whole ecosystem for your business back up is going to be a real
challenge so I guess those are just my thoughts today on my Saturday slow down
if you like this video please like comment and share if you haven't already
please subscribe and I will catch you later
For more infomation >> Qual é o largura que tem que deixar para por o gira Grill na churrasqueira? - Duration: 4:17. 
For more infomation >> 彭文正曾預言「柯P募不到款」 網狂酸：這臉打得好腫 - Duration: 11:21. 
For more infomation >> 5 Smallest Aircraft In The World With Engine and Pilot
For more infomation >> Suzuki S-Cross 1.6 Exclusive Navigatie/Cruise/Trekhaak - Duration: 1:13. 
For more infomation >> 大S小S聊韩星孔刘，汪小菲十级尬聊：孔刘是孔子的后人吧 - Duration: 1:27. 
For more infomation >> OSNI descubierto en el mar Egeo frente de la costa de Grecia - Duration: 1:53. 
For more infomation >> HSN | Chef Curtis Stone Celebration 07.28.2018 - 12 PM - Duration: 1:00:01. 
For more infomation >> Les Anges 9 : Milla pleure dans les bras d'Antho, Mélanie et Jordan élus Miss et Mister anges - Duration: 3:21. 
For more infomation >> [Nouvelles de divertissement] || Meghan Markle « terrorisée » par la famille royale ? (photo) ? - Duration: 3:01. 
For more infomation >> LUFFY VS ZORO : CHOPPER'S DEATH IN THE WANO ARC ! - One Piece Theory (Chapter 912 +) - Duration: 15:13. 
For more infomation >> Land Rover Discovery Sport - Duration: 1:11. 
For more infomation >> 7 utilisations fascinantes du charbon de bois - Duration: 8:59. 
For more infomation >> 割烹 - 調理 - 요리 - Duration: 0:23. 
For more infomation >> 割烹 - 調理 - 요리 - Duration: 0:44. 
For more infomation >> 割烹 - 調理 - 요리 - Duration: 0:07. 
For more infomation >> Maserati Ghibli - Duration: 1:03. 
For more infomation >> Jeep Compass - Duration: 1:07. 
For more infomation >> Jeep Compass - Duration: 1:07. 
For more infomation >> Jeep Renegade - Duration: 1:12. 
For more infomation >> 해병대가 45년이나 항공전력을 절실히 요구했던 이유 - Duration: 8:00. 
No comments:
Post a Comment