E202: The $5,000 Question

This episode is a follow up of sorts to our 200th episode.

After wrapping up 5 Minute Pitch semis, my co-judges Scott Voelker, Steve Chou, Greg Mercier and I had some time to talk a bit about ecommerce while out for dinner here in San Diego.

But it’s not the usual shop talk that you’d expect. For one, Scott initiated a speed round and dropped this thought-provoking question.

What you would do right now with all the information that you know, everything that you've gained, but you only have 5,000 dollars to start your new business? Unsurprisingly, each one of us had a different answer to this. I’d start a blog and get into affiliate marketing. Greg would invent a product or improve upon an existing one. Steve (who doesn’t need the $5,000) would join an online forum, become an authority figure and use that influence as a launchpad to having his own paid courses and webinars. Finally, Scott would build an audience by creating content that would target a specific or niche market.

These discussions are really something that I look forward to. Being able to bounce ideas of three of my best buddies in the industry, each one successful in his own right is always a treat. That being said, these talks bring about insights that could be useful to any up and coming entrepreneur.

I hope you enjoy this episode as much as we had fun recording it.

In other news, registration to EcomCrew Premium is now closed but, you can still learn from us through our suite of free courses. There’s a total of 20 videos covering ecommerce topics like Importing from China and Building a 7-Figure Business. Find more information on the link below. Free Video Courses

We’re also launching giveaway during the holidays so like and follow our Facebook page for the latest updates.

Finally, if you enjoyed listening and think this episode has been useful to you, please take a moment to leave us a review on iTunes. If you have any questions or comments, feel free to leave them below. Happy selling!