PROFIT FIRST - Why Most Shopify Stores Fail. (It's Not Bad SEO, Bad Products, or Even Bad Marketing)
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PROFIT FIRST - Why Most Shopify Stores Fail. (It's Not Bad SEO, Bad Products, or Even Bad Marketing)
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Narrated by:
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About this listen
Most Shopify entrepreneurs don’t fail because of bad products or weak SEO. They fail because of one thing: they run out of money. In fact, 83% of businesses are not profitable, and yet the majority of Shopify stores never stop to address this until it’s too late. In today’s episode, I sit down with bestselling author Mike Michalowicz (Profit First, Clockwork, The Money Habit) to talk about eradicating “entrepreneurial poverty.”
We dive into money habits, why hustle culture is a scam, and the practical systems every Shopify store owner needs to build a sustainable business. Trust me — if you think profit is something you’ll “hit” one day, this episode will change the way you see entrepreneurship forever.
Key Take-aways
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Why most Shopify businesses fail, and why it’s rarely because of the product.
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The Profit First framework and why profitability isn’t an event, it’s a habit.
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How founder burnout and poor money habits destroy great stores.
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Why removing yourself from the business (Clockwork method) is a true measure of success.
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The importance of constraints in sparking innovation and efficiency.
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Why small business isn’t just the backbone of the economy — it IS the economy.
Resources & Links Mentioned in the Show
- Mike Michalowicz Website (Mike Motorbike): https://www.youtube.com/results?search_query=mike+michalowicz
- Shopify: https://www.shopify.com
- Shopify Plus: https://www.shopify.com/plus
- Bold Commerce Apps for Shopify: https://boldcommerce.com/shopify
Omnisend - I personally use Omnisend for every Shopify store I manage! I’ve tried them all and Omnisend is hands down the easiest way to set up email and sms automations and campaigns, leverage segmentation to personalize them, and A/B test everything to optimize conversion. The push notifications and gamified email collection tools are just the icing on the cake 🤌
(plus most report paying about half the price of Klaviyo 🤫)
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