Optimized Ecommerce EP 072 – Building a Long Term Sustainable BusinessListen to the episode:
Welcome to Episode 072 of Optimized Ecommerce – Building a Long Term Sustainable Business. I’m your host, Tanner Larsson, CEO of BGS.
BGS means Build Grow Scale! It is a community that we founded where eCommerce entrepreneurs and physical product sellers come to learn how to take their businesses to the next level.
Erik Huberman is the Founder and CEO of Hawke Media—a full-service Outsourced CMO based in Santa Monica, CA, providing guidance, planning, and execution to grow brands of all sizes, industries, and business models.
Hawke Media was recognized by Inc. as the country’s fastest-growing marketing consultancy, and is proudly one of Glassdoor’s “Best Places to Work”, 2019 #893 on the Forbes 5000 list, UpCity Top Los Angeles Digital Marketing Agency.
Here’s just a taste of what we talked about today:
A Reader’s Digest Version of Hawke Media and why Erik chose to talk about company sustainability.
Erik built and sold e-commerce brands before he started Hawke Media. Now the company is seven and a half years old, completely bootstrapped. No outside capital, they’ve got about 250 full-time people managing marketing for about 600 brands, and they’ve worked with about 3500 brands at this point.
He chose to talk about company sustainability and building a foundation for a good organization because this topic is mostly missed in this space. And it is an important topic because he often sees posts on social media about how they’ve had 100x returns on their ads for two days, and skyrocketing. And then a week later, their company is gone.
A sustainable business is not just getting good returns on Facebook, it’s more about building a company with a great product and the right marketing channels that build a long-term sustainable business.
How to build a long-term sustainable business?
Number one: build a good product or service that has staying power. You have to base a product or service on something that people are going to want for a long time.
Number two: unit economics. Selling a product with enough margin, that you can market and can have a team built of it. As it scales, you end up with a lot of free cash flow that allows you to build the company.
Number three: build a relationship with your customers so that they come back and buy more. Building a brand is not all about Facebook ads with a cost per acquisition and a conversion rate. It’s about multiple offerings, word of mouth, and repeat purchases.
Number four: don’t be afraid of omni channel. If you’ve got a great product, sell into retail, sell everywhere you can. Focus on being the best at one thing. When you do that, you’re going to get repeat business, you’re going to get people talking positively about you. And what’s going to start to create that sustainability.
We also discussed a few other fun topics, including:
- The importance of growing your business sustainably.
- Connection of business sustainability to profitability.
- Discussion about the idea of selling a business after a certain amount of time.
But you’ll have to watch or listen to the episode to hear about those!
How To Stay Connected With Erik Huberman
Want to stay connected with Erik? Please check out their social profiles below.
- Website: HawkeMedia.com
- Facebook Profile: Facebook.com/erikhuberman
- LinkedIn Profile: Linkedin.com/in/erikhuberman
Also, Erik mentioned the following items on the show. You can find that on: