Apple (NASDAQ: AAPL) was expected to report a bleak quarter due to the continuing slump in iPhone sales. It was not just iPhones, though. iPad and Mac sales have also declined. It is time Apple made a big move. >>>
Sramana Mitra: All this was organically built or did you raise any financing in this process?
Stephanie Leffler: We didn’t raise any financing. We’re both very happy at this point that we didn’t. It wasn’t really by design but it was more because we didn’t even understand that those sort of things were available.
Sramana Mitra: How were you doing customer acquisition?
Stephanie Leffler: We got very good at search engine marketing. In Google, we ranked number one for the term shopping cart, shopping cart software, and e-commerce store. Every day, our sales line was a queue. Sales people would pick up the phone as fast as they could. It was all 100% inbound from our rankings in >>>
Yahoo (Nasdaq: YHOO) finally seems to have found a buyer for its core assets. After years of trying to recover lost ground, earlier this year, the company had decided to sell off its core assets. It has finally found a willing buyer in Verizon. Yesterday, Verizon agreed to buy Yahoo for $4.83 billion, making it probably the best news for Yahoo in a while.
Sramana Mitra: You’re going way too fast for the story. Remember, we are doing an Entrepreneur Journeys story.
Stephanie Leffler: The key portion of switching gears from trying to be a retail business to starting our e-commerce journey was out of complete necessity. We were in a situation where we didn’t have enough money to keep our retail business going. We didn’t have any plans to be profitable fast enough for us to be able to survive. It was a survival technique.
Sramana Mitra: As a survival strategy, you decided that you were going to become a reseller of this e-commerce platform company?
Stephanie Leffler: That’s exactly right.
Sramana Mitra: What price point was the platform priced at, and what was the reseller deal that you struck with them? >>>
People have speculated for centuries about a future without work, and today is no different, with academics, writers, and activists once again warning that technology is replacing human workers. Some imagine that the coming work-free world will be defined by inequality: A few wealthy people will own all the capital, and the masses will struggle in an impoverished wasteland.
For some time now, eBay’s users have been a disgruntled lot. It has a poor feedback management system and there are issues in search and discoverability. eBay (NASDAQ: EBAY) is now focusing on improving these organically and through acquisitions. >>>
Entrepreneurs are invited to the 315th FREE online 1M/1M roundtable mentoring session on Thursday, July 28, 2016, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea to Sramana Mitra. You’ll gain straightforward feedback, advice on next steps, and she’ll answer any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
Stephanie bootstrapped her first company to $20 million in revenue from St. Louis. Her second, also from St. Louis, is venture-funded and crossed $10 million in revenue last year. Awesome entrepreneur, inspiring woman!
Sramana Mitra: Let’s start with the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of background?
Stephanie Leffler: I am from Northern Virginia in Fairfax. I was actually born and raised there. Ultimately, I went to school at Washington and Lee University. I found my way to St. Louis as part of my entrepreneurial journey. I’ve lived here ever since. >>>