The Growing Trends With Businesses (Shopify, Flexport, etc.)

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.6 • 1.4K Ratings

🗓️ 30 September 2023

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2568, we set our sights on growing business trends. We navigate the dynamic landscape of emerging trends that are reshaping the business world, with a spotlight on industry giants like Shopify and Flexport, and unravel the secrets behind the meteoric rise of these innovative companies. We shed light on the strategies and tactics that have propelled them to the forefront of their respective industries and explore what the evolving business landscape means for entrepreneurs and investors. Whether you're a startup enthusiast or a seasoned business leader, this episode is your gateway to understanding the pulse of today's business trends. Stay tuned for an in-depth discussion that will equip you with the insights needed to stay ahead of the curve! TIME-STAMPED SHOW NOTES: (00:00) Today’s topic: The Growing Trends With Businesses. (00:50) Benefits of focusing on your company’s mission. (01:40) The role of interest rates on your company’s growth. (02:33) Challenges of the current market. (03:56) Doubling down on what is working and cutting the fat. (04:33) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! Shopify Flexport Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, Neil, do you know the trends with Shopify, Flexport, like what do you think the growing trend is with all businesses right now, or a lot of great businesses? What do you think it is?
0:10.0	A focus, B-cost cutting.
0:12.8	Okay, you're in the right vicinity.
0:14.9	Yes, to both of those, right?
0:16.5	But more than anything, when you look at Flexport,
0:19.4	they hired a CEO who worked at Amazon,
0:21.8	and he was a pro with logistics of Flex Sports like a
0:24.0	Logistics company and they ended up hacking a guy recently and that's just a good
0:29.2	example of the chairman who is one of the founders Ryan he stepped back into the company yeah so
0:35.2	Ryan's back in and so Shopify like they're focused on when you look at it it's like
0:39.3	okay we're gonna focus on cost cutting we're gonna they offloaded their deliver platform and I think they gave it to
0:44.7	Flexport and they partner up with Amazon and they're just focused on delivering a good
0:49.2	e-commerce experience so my point of saying all this is like the focus has led to cost cutting.
0:55.1	It has led to the CEOs coming back to operate their businesses, right?
0:58.7	It has led to a very low or almost zero tolerance for BS in a company.
1:04.0	And the reason they're all doing this is they got to hit earnings and numbers.
1:08.0	So I totally get why a lot of them are focused this way and I don't really blame them you know at the end of the
1:15.2	day when you're publicly traded a large organization and really well funded you
1:20.3	got to produce and production means more revenue and more profit and if you're not making
1:26.2	profit at least becoming profitable. That's what the market's looking for. Investors,
1:30.7	you know public markets it doesn't matter people want growth and they want growth
1:34.8	with profitability they don't want growth at all costs and no profitability.
	...

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