capital

Berk started his career as a software engineer and considers himself a product-focused builder. He is the creator of the first local search engine and is the author of a wide range of patents on everything from VoIP to data mining. He’s an equal-opportunity coffee drinker but is most fond of fresh crop Geishas from Colombia. As the co-founder and chief executive officer of Bean Box, a global marketplace for specialty coffees, coffee subscriptions, and coffee gifts, Matthew Berk is responsible for the development, growth, and vision of the brand. In This Conversation We Discuss: [00:00] Intro[01:12] How Matthew conceptualized Bean Box[04:19] The parallels to Lean Startup principles[05:08]Try things even if you get it wrong [07:11] Doing Ecom is trying to sell 2 products[09:26] Focus on getting the products into people’s hands[10:59] 2 areas where you could easily get lost in[11:43] How to avoid “price spiraling”[16:14] Competitor comparison can be pointless[17:54] Sponsor: Electric Eye https://electriceye.io[18:14] Sponsor: Mesa https://apps.shopify.com/mesa[18:58] Sponsor: Gorgias https://gorgias.grsm.io/honest[20:24] Sponsor: Rewind https:/rewind.com/honestecommerce[20:55] Sponsor: Klaviyo http://klaviyo.com/honest[21:42] The ratio between capital raised and revenue generated[22:47] Investing in people is a rocket fuel for business[24:15] Capital can obfuscate your problems[27:05] The entrepreneur’s job is prioritizing problems[28:31] You don’t have to grow if you don’t want to[32:09] When should you go custom[37:10] Would Bean Box’s strategy 8 yrs ago work today?[39:02] Where to find Bean BoxResources:Subscribe to Honest Ecommerce on Youtube https://www.youtube.com/c/HonestEcommerce?sub_confirmation=1Connect with Matthew https://www.linkedin.com/in/matthewberkShare the joy of small-batch, locally-roasted beans with coffee lovers around the country https://beanbox.com/Read The Lean Startup http://theleanstartup.com/bookScale your business with https://electriceye.io/Download Mesa at the Shopify App Store https://apps.shopify.com/mesaLevel up your customer support https://gorgias.grsm.io/honestRespond to any of Rewind’s welcome emails and mention HONEST ECOMMERCE to get 1 month free http://rewind.io/honestGet started with a free account at http://klaviyo.com/honestIf you’re enjoying the show, we’d love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!Review Link: http://getpodcast.reviews/id/1447700156Honest Ecommerce is a weekly podcast, community & educational resource providing online store owners with honest, actionable advice to increase their sales and grow their business. Visit http://honestecommerce.co/ for more information.If you like our videos, consider subscribing & joining our FREE Facebook grouphttps://www.facebook.com/groups/honestecommerce/Or get all our content sent directly to your inbox by subscribing to our newsletter: https://honestecommerce.co/pages/subscribe