Venture – MARKETING IN MINUTES VLOG

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

Business is the activity of making one’s living or making money by producing or buying and selling products. Simply put, it is “any activity or enterprise entered into for profit.” Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner’s personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially to refer to a company. A company, on the other hand, is a separate legal entity and provides for limited liability, as well as corporate tax rates. A company structure is more complicated and expensive to set up, but offers more protection and benefits for the owner.Wikipedia