In this podcast, we are joined by Daniel Ede, who attained financial independence by the age of 30 by turning his side hustle into an e-commerce business that grew large enough for him to eventually sell it on. We are also joined by Alan Jameson to analyse our guest and their interview in a fun twist to our usual podcast format.
We discuss how technology has broken down a lot of barriers to entry for e-commerce businesses and allowed for many business models to be easily managed, scaled, and automated, as well as the challenges of starting a business from a different background such as engineering and knowing little about marketing and the social aspects of a business but using your strengths to your advantage regardless.
As a new entrepreneur, it may be tempting to play the volume game and produce a lot of a low-cost and low-price product that you know a lot of people need. However, it may be worth thinking about looking into more niche products that people may consider to be luxury items and would be willing to pay more money for, even if they are not as high-cost to produce as they sell for.