We're Gonna Make It Leaving $11,000,000 in Ecom to Start a Software Company | George Stoitzev - Digital Dropshipping
Dec 11, 2023
Guest George Stoitzev discusses leaving $11,000,000 in e-commerce to start a software company. They explore the challenges and opportunities of transitioning from dropshipping to software, the importance of a core value proposition, and the potential of digital dropshipping as a business model. They also emphasize the significance of consulting and mentoring young entrepreneurs in the industry.
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Early Shopify Success
- George Stoitzev started dropshipping on Shopify in 2013 after reading Tim Ferriss's book.
- He aimed to make $100/day, achieving Shopify success in 2017 with a $10M year.
Transition to Software
- George transitioned from dropshipping to build a brand and later a software company for larger enterprise value.
- He aimed to create a billion-dollar software company, leveraging his e-commerce network.
Bootstrapping and Venture Capital
- George initially bootstrapped his software company, aiming to invest $500,000 over three years.
- He later realized the need for venture capital due to competition and market dynamics.