Rich Habits Podcast

86: Building a $100B Company (Shopify) w/ Harley Finkelstein

Oct 14, 2024

In this engaging discussion, Harley Finkelstein, President of Shopify and key player in the company's rise to a $100 billion valuation, shares invaluable insights on entrepreneurship. He emphasizes the importance of personal connections and the concept of having '1,000 true fans.' Harley explores lean entrepreneurship and how Shopify empowers new business owners with innovative tools. He highlights the benefits of approaching business with creativity over capital and discusses the promise of AI in optimizing online ventures, all while navigating the evolving digital landscape.

51:54

Creator website

Episode guests

Harley Finkelstein

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Shopify empowers entrepreneurs by providing user-friendly tools that lower entry barriers and facilitate online business setup with minimal investment.

The reduced cost of failure today allows aspiring entrepreneurs to experiment and innovate without significant financial risk, fostering a culture of resilience.

Successful entrepreneurs thrive by identifying market gaps and leveraging personal insights, advocating for an iterative approach to launching business ideas.

Deep dives

Shopify's Impact on E-commerce

Shopify plays a significant role in the e-commerce landscape, facilitating approximately 11% of all e-commerce transactions in the U.S. The company has recently surpassed a cumulative gross merchandise volume of $1 trillion, empowering countless entrepreneurs to build their businesses online. This emphasizes Shopify's capability to support small enterprises as they navigate the rapidly evolving digital market. The platform's user-friendly tools and resources lower the entry barriers for aspiring entrepreneurs, allowing them to easily set up their online stores with minimal investment.

Intro

2min

The Evolution of Entrepreneurship with Shopify

9min

Starting a Business: Insights Over Plans

6min

Embracing Lean Entrepreneurship

19min

Navigating Innovation in Entrepreneurship

11min

Unlocking Entrepreneurial Potential with Personal Connections

2min

Key Insights from Building a $100B Company

3min

In this week's episode of the Rich Habits Podcast, we sat down with Harley Finkelstein -- the President of Shopify.

Harley was a breath of fresh air. He spoke toward the "cost of failure," the idea of having 1,000 true fans, where Shopify is reinvesting their profits right now, the mindset of successful business owners on the platform, and much more.

If you're someone who's mulling over the idea of starting a business, do it! Austin began using Shopify in high school (2010), and Robert in the early 2010s as well. We highly recommend giving it a try :)

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