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What is a good gross profit margin for Ecommerce businesses?
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When we meet ecommerce founders and business owners for the first time, the first question we ask is what numbers do they look at.
The typical response is: Their sales dashboard from Shopify.
Don’t get me wrong, Shopify is a great platform and has great front-end metrics. But when it comes to understanding the financial performance of your business, it’s not the best form of business intelligence to run your business.
Why? It’s because revenue is a vanity metric.
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The typical response is: Their sales dashboard from Shopify.
Don’t get me wrong, Shopify is a great platform and has great front-end metrics. But when it comes to understanding the financial performance of your business, it’s not the best form of business intelligence to run your business.
Why? It’s because revenue is a vanity metric.
--
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