Why Hiring a CFO Is Essential for Launching Your New Ecommerce Product Line

If you’re like most E-Commerce entrepreneurs, you started your business with a vision.

You had a crystal clear view of what you were going to sell, who you were going to sell to, and how you were going to sell it. Even if you didn’t run the numbers first, you knew this was going to work.

And it did. You grew successful, your business ballooned, and your revenue is hundreds of thousands per month.

But now growth has stopped, and you’re not where you want to be. Your overhead is so high that you haven’t gotten to the lifestyle you want yet, and you’re too ambitious to settle for what you have.

You've realized you need to launch a new product. Something similar to your expertise, but different enough that you can still make big money off of it. But it feels different this time. You don’t have the same confidence you did before. This time when you run your numbers it’s not just hypothesis confirmation, but genuine financial research. And that's not something you're good at.

Michael has a similar problem. He’s built a very successful E-Commerce store selling boutique dog, cat, and birdhouses from high quality materials, with insulation and even lighting. He got the idea when he wanted to get a doghouse for his own dog that was a cut above what he could get locally, and knew there were thousands of people in North America who would feel the same.

Business was good and grew steadily for years, but has stagnated and even recessed in the past 8 months. Michael fears he has reached market saturation, and needs to launch a new product to keep earning revenue. He wants to stay in the pet owner realm, as that’s where his reach is and has been spit balling new products. He’s settled on 2 he thinks look appealing; LED collars and remote feeders.

Michael knows how to market, how to run a business, and how to price his products. His primary concern right now is figuring out which product will sell better, if either will even sell at all. When he launched his first product, he had conviction in it, so while he did rudimentary market sizing and pricing math, he didn’t feel the need to drill down into how well it would sell or what the returns would be. He doesn’t have the same confidence in either of his possible new products.

Before he greenlights, he needs to find his TAM SAM SOM, willingness to pay, possible pricing, and percentage of success. He barely knows how to do some of that, and doesn’t know how to do the rest.

Rob te Braake does.

Rob te Braake is a fractional CFO, a form of finance professional that’s left corporate finance to help entrepreneurs achieve success in their ventures. Rob himself had a long career in founding and flipping E-Commerce companies before he started Insight Matters, and now dedicates his time to giving entrepreneurs the same support he never had.

So how would Rob help Michael? [INSERT FINANCE TALK] I have no idea what to put here [WILL MAKE THIS SECTION LOOK  LESS JANKY]

Safe to say, Rob’s years of experience have taught him a thing or two. When it comes to entrepreneurship, the biggest lie you’re told is that you can go at it alone. You most likely can’t, and that’s ok.

Let Rob and his crew fill in the gaps in your knowledge, and take your business to levels you never even dreamed of. Plus, one benefit of working with Rob is that unlike many other consultants, they do work to give you more autonomy as your relationship progresses.

Insight Matters is a partner of whatifi, a new technology that aims to make financial decision making faster and easier. Using a visual graph based UI and fast data input, whatifi lets the user compare the outcome of any decision (or set of decisions) with each other, instantly. This lets Rob answer answer any questions you have in-call, rather than emailing you 4 hours later, and makes it easier for you to understand his logic. As an added bonus, Insight Matters teaches their clients to use this software, so you can develop the skills necessary to run your business on a higher level.

So if you, like Michael, are looking at launching a new product but don’t know if you should pull the trigger, want some advice on another financial subject you lack expertise in, or are simply a tech nerd who wants to check out a new piece of software that could put you ahead of the game, be sure to join Rob for a free webinar on June 18. But don’t wait, because spots are going fast.

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