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Shopify Success (No, not mine :))

Discussion in 'Success Stories and Bragging' started by azgold, Apr 4, 2019.

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  1. azgold

    azgold Super Moderator Super Mod moderator affiliate

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    This is not my success story, it's Tobi Lutke's, the founder of Shopify.

    Lutke showed up in the list of The Richest Canadians and How They Made Their Fortunes, on MSN news today.

    If you want to see his face, age (spoiler - he's 38), what he's worth monetarily...check it out and be inspired. He is a great example of what's possible.

    I think it also shows that if you can create something the market is lacking, the potential is incredible.

    So, not my personal success story but I'm bragging because he's Canadian, like me. :)

    [​IMG]


    P.S. If you happen to look through the list, you'll see the guy who is responsible for developing Wish, too. He is also very rich. And Canadian. :D
     
    Faelmaran and T J Tutor like this.
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  3. Graybeard

    Graybeard Well-Known Member affiliate

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    Read this US Americans:
    Tax Implications of Drop Shipping
    Drop Shipping creates a sales tax liability -- including a nexus of ecommerce where it used to require a physical presence (building, warehouse, offices) now there is a cloud nexus.
    I estimate anything over $2.5 Million in gross shipments/ per year will trigger this assuming the state minimum shipment values.
    So if you grow beyond a micro-business -- this will effect you when drop-shipping.

    There is also trouble brewing in Shopifyland
    Facebook and Square Are Expanding Into Shopify's Backyard -- The Motley Fool
     
  4. azgold

    azgold Super Moderator Super Mod moderator affiliate

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    Sounds safe.

    I don't know much about Square and I don't like Weebly for site building (just a preference, nothing wrong with it) but if they can make it work, more power to them. The market will support what they like and trust.

    Zuck trying to take over the world? :D Who does that remind you of?
     
  5. Graybeard

    Graybeard Well-Known Member affiliate

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    Square
    https://squareup.com/us/en
    is a payment processor
    Square gets their name from a square that attached to a smartphone or tablet and becomes an instant POS credit card 'swipe thru' terminal. They have expanded into internet payment gateways for some years now.

    Also, Spotify creates the same issue -- the lack of portability of the platform. The use fees can become substantial but are cheaper that hiring your own staff and leasing servers.

    The expense of servers and PCI-DSS compliance is substantial for a micro business to absorb on a distinct basis. However, when you use any SaaS or cloud service there are concerns of data protection -- especially proprietary data -- this is a concern of medium and large business organizations. Or, high-tech or fintech start-ups -- where data and code is the product ;)
     
    Last edited: Apr 5, 2019
    azgold likes this.
  6. Faelmaran

    Faelmaran Affiliate affiliate

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    I always wanted to start my own Shopify store, but as well constantly lack time or will to do all that lately. I need to dedicate myself and story like that only helps me a lot to do that correct way. I will chek more guides, set aside some capital and another Shopify store will be on the web and for sure successfull;)
     
    azgold likes this.
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