CFO: Brands Rarely Max Out Meta Ads

Abir Syed is an accountant turned marketer turned chief financial officer. He says ecommerce marketing success largely depends on creative volume, and few merchants have exhausted any channel, much less Meta.

Abir is co-founder of UpCounting, an accounting and fractional CFO firm in Montréal, Canada. In our recent conversation, he shared common financial mistakes of merchants, key metrics to monitor, and, yes, how to grow ad revenue on Meta.

The entire audio of our conversation is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Who are you and what do you do?

Abir Syed: I am the co-founder of UpCounting, an accounting and fractional chief financial officer firm focused on ecommerce. We handle everything from basic bookkeeping and transactional work to high-level needs, such as due diligence, back-office implementations, cash flow forecasting, and financial modeling.

I am also a certified public accountant and previously ran both an ecommerce brand and a marketing agency. Most finance professionals lack hands-on experience in advertising or customer acquisition, but I have lived those challenges, and that background significantly shapes how I advise founders.

Marketing is usually an ecommerce brand’s most significant expense; understanding it is essential for providing meaningful financial guidance. So we structure our reporting, dashboards, and forecasting around the realities of ecommerce operations — not just accounting accuracy but actionable insights tied to contribution margin, customer behavior, marketing performance, and growth strategy.

Bandholz: What is the most common financial mistake founders make?

Syed: I see three major issues repeatedly. First, many founders track the wrong numbers. They monitor revenue or look at profit once a month, but rarely examine contribution margin or cash flow. Contribution margin is often ignored entirely, leading to major blind spots. Top-line revenue means little without understanding the economics underneath.

Second, operators often misunderstand what is required to enable growth. I am frequently asked to review struggling ad accounts. A recurring issue is underinvesting in creativity. Founders try to force growth by pushing return on ad spend harder, rather than improving the creative foundation required to scale spend while maintaining healthy acquisition costs.

Third, omnichannel brands frequently fail to separate channel performance. I see profit and loss statements with a single cost of goods sold line combining, say, Shopify, Amazon, and wholesale. Blending everything prevents founders from seeing how each channel is truly performing. Wholesale, for instance, operates on a very different cash cycle.

Bandholz: How often should operators review their financials?

Syed: It depends on the business’s size, complexity, and growth goals.

Most operators should review key historical metrics weekly — cash flow, expenses, and anything unusual moving through the business. A weekly cadence helps identify problems early.

More detailed reporting, such as margin and channel breakdowns, is usually best reviewed monthly. That interval provides cleaner data and enough distance to spot trends rather than reacting to noise.

The most overlooked piece is forecasting. Few brands build forward-looking financial models because it is difficult, yet essential for aggressive growth. Forecasting helps you understand the implications of scaling. Conservative operators can get away without it, but brands pushing hard need projections. Too many founders grow quickly with no plan, no modeling, and no clarity on future cash needs.

Bandholz: How do you decide if a marketing channel is maxed out?

Syed: It is difficult to know with total certainty, but in most cases, brands have not truly saturated a channel, especially Meta. There is usually far more room available than teams realize.

I often compare similar brands in the same category. One might spend $200,000 a month on Meta while also allocating resources to podcasts, TikTok, affiliates, and other channels. Another in the same space might spend $200,000 a day on Meta. They often have similar products, audiences, and brand quality. The difference is creative volume. The larger spender produces an enormous amount of fresh creative, while the other is effectively using a strategy from years ago.

Most brands have not come close to saturating Meta. They are simply underfunding creative strategy.

Increasing creative volume opens new audience pockets and helps find additional winning ads. If the creative that got you to $200,000 in monthly sales has plateaued, you must increase output to climb further. The more the creative volume, the higher the revenue. The pace depends on profitability, reinvestment capacity, creative quality, and a bit of luck.

Working with a media-buying agency that also produces creative can cost upwards of $7,000 per month, ideally under 10% of ad spend. Smaller brands may temporarily spend as much as 30%.

Bandholz: How should brands budget for bookkeeping?

Syed: Smaller brands face a minimum cost for competent bookkeeping. Hiring in-house rarely makes sense until the company is very large. A Shopify-only brand doing $1–5 million annually should expect to spend $2,000-$3,000 per month. Cheaper options exist, but the trade-off is often lower accuracy and weaker communication.

The challenge is that many founders cannot discern whether financial data is clean. It is similar to hiring an internet security expert when you lack technical knowledge — you might overlook major issues until something breaks. We have onboarded many clients who tried cheaper options, only to find their data was consistently incorrect.

To scale aggressively or make data-driven decisions, you need accurate, timely financials and guidance on interpreting them.

Once a brand surpasses roughly $5 million in annual sales, bookkeeping for multiple sales channels typically costs $5,000 to $8,000 per month.

Bandholz: Where can people support you, hire you, follow you?

Abir: Our site is UpCounting.com. I’m on LinkedInInstagram, and X.

Will Google’s AI Mode Dominate ChatGPT?

Jeff Oxford is my go-to interview for ecommerce SEO. The founder of Oregon-based 180 Marketing, an agency, Jeff first appeared on the podcast in 2022 when he addressed SEO’s “four buckets.” I invited him back late last year to explain AI’s impact on search traffic and how merchants can adapt.

In this our latest interview, he shared optimization tactics for ChatGPT, with a caveat: Google’s AI Mode could eventually dominate.

The entire audio of our conversation is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Welcome back. Please introduce yourself.

Jeff Oxford: I’m the founder of 180 Marketing, an agency focusing exclusively on ecommerce SEO. A big part of that lately has been helping brands navigate AI-driven search.

We work with seven- and eight-figure ecommerce companies, helping them grow organic traffic and conversions through the fundamentals — search, content, link building — and now layering in what I call “AI SEO.” Basically, optimizing so you show up in places like ChatGPT and other large language models.

I’ve worked in ecommerce SEO for about 15 years. I ran my own ecommerce sites before then, but I learned I’m better at marketing than operations. So I shifted into ecommerce SEO. Over the past year, I’ve focused heavily on ChatGPT and AI-driven SEO because it’s changing how people discover products.

There’s confusion around what to call this new discipline. Entrepreneurs often say “AI SEO.” The SEO community prefers “GEO,” which stands for Generative Engine Optimization. I’ve also heard “AEO” for Answer Engine Optimization and “LLMO” for Large Language Model Optimization. I prefer the simplicity of AI SEO. My team focuses on where traditional SEO and AI-powered optimization overlap so brands can benefit from both.

Premium ecommerce brands face an uphill battle with Google. Higher prices often lead to higher bounce rates, and Google responds by pushing those sites off page one, regardless of quality. ChatGPT, however, focuses on semantic relevance and draws from multiple sources. Some merchants are now seeing more conversions from ChatGPT than from traditional Google search.

Bandholz: Is ChatGPT the Google of AI SEO?

Oxford: Yes. We work with many ecommerce sites, giving us a broad data set. When we review analytics for AI-driven referrals, about 90% come from ChatGPT. Perplexity is usually second, followed by Claude and Gemini.

But tracking performance is much harder than with Google. Traditional SEO is simple to measure — Shopify or Google Analytics clearly shows organic search traffic and revenue. ChatGPT works differently. Users ask a question, get recommendations, and may or may not click through directly.

Often, they copy the product or brand name and search it on Google. That behavior means ChatGPT rarely appears in analytics as a referral source. Instead, its influence shows up as branded search traffic, which makes attribution tricky.

Bandholz: Are companies moving toward direct sales inside ChatGPT?

Oxford: Shopify and OpenAI announced a collaboration for direct checkout through ChatGPT, but I haven’t seen it widely implemented. Shopify merchants will eventually allow customers to purchase directly inside ChatGPT. Stripe merchants will have similar options through new tools that let developers enable in-chat transactions.

However, I’m unaware of any tracking tools — no equivalent of Google Search Console or Bing Webmaster Tools. Unless ChatGPT introduces advertising, there’s little incentive to build detailed analytics. If ads become part of the platform, I could see them adding conversion pixels and performance tracking, but that’s speculative.

Looking ahead, I suspect Google’s AI Mode may ultimately dominate. ChatGPT accounts for roughly 90% of AI-driven search referrals, but Google is positioning AI Mode as the future. It began as a beta feature, moved into the main interface, and now appears as an “AI” tab alongside images and videos and in the Chrome search bar. If user engagement remains strong, Google could eventually make AI Mode the default over traditional search results.

Despite ChatGPT’s growth, Google search traffic hasn’t declined. Studies show that Google search volume has increased slightly. ChatGPT holds only 1–2% of the search market share — less than DuckDuckGo. Google still commands the vast majority of actual information-seeking queries.

Bandholz: How do I get Beardbrand ranking in ChatGPT?

Oxford: All AI search tools run on LLMs. Just as traditional SEO focuses on Google, we focus on ChatGPT because it holds the largest share of AI-driven discovery. Improvements made for ChatGPT usually help across the other platforms.

The process starts with prompt research, similar to keyword research. Target prompts tied to high-volume transactional keywords — such as “best beard oil” or “where to buy beard oil.” Informational prompts like “what is beard oil” are too top-of-funnel to convert. Once you identify the core prompts, optimize your site around them.

Begin with your About page. The first sentence should clearly state that Beardbrand is a leading provider of beard oil. Maintain your brand voice afterward, but clarity in the opening line helps LLMs understand your core identity.

Next, optimize category and product pages with conversational FAQs, detailed specification tables, clear unique selling points, and defined use cases or target audiences. These elements help LLMs parse and match your products to user prompts.

For blog posts, include expert quotes, statistics, citations, and simple language. Update old pieces. Recency heavily influences whether ChatGPT cites a page. However, maintain a hyper-focused site — remove outdated or off-topic content to improve your likelihood of being referenced in AI search results.

Bandholz: What else should we know?

Oxford: The biggest takeaway is that AI SEO relies heavily on brand mentions, similar to how traditional SEO relies on link building. In AI search, these mentions — often called citations — strongly correlate with whether ChatGPT recommends your products. Your first step is finding “best beard oil” articles across the web, especially those ChatGPT frequently cites. Then work to get your products included.

Send samples, offer substantial affiliate commissions, and accept break-even on those sales if it increases your presence in authoritative lists. These citations can meaningfully influence ChatGPT’s product recommendations.

Digital public relations also helps. Create data or stories journalists want to reference — for example, statistics about beard trends, grooming habits, or consumer preferences. Unique data tends to get picked up, generating high-value brand mentions.

Another helpful tool is Qwoted. It’s similar to Haro but with a paid model that filters out spam, so journalists actively use it. Reporters from Forbes, Inc., HuffPost, and even The Wall Street Journal post requests for expert quotes. Ecommerce founders can easily respond to topics such as tariffs, AI adoption, and hiring. These quotes often generate both brand mentions and backlinks, helping both AI SEO and traditional SEO. Paid plans start around $100 per month, and a single top-tier mention usually justifies the cost.

Bandholz: Where can people hire you, follow you, find you?

Oxford: Our website is 180marketing.com. I’m on LinkedIn.

Solar Power Developer on Fueling the Grid

Chris Elrod is a renewable power entrepreneur. His company, Treaty Oak Clean Energy, builds massive solar projects that provide electricity for large corporations and utility firms.

It’s boom times for electricity generators as the likes of Google, ChatGPT, and Amazon scramble for reliable sources.

How, exactly, does a company build a solar-generating plant and then sell the electricity to end users? I asked Chris those questions and more in our recent conversation.

Our entire audio is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Who are you, and what do you do?

Chris Elrod: I’m the CEO and co-founder of Treaty Oak Clean Energy, a renewable energy developer based in Austin, Texas. We build large solar and battery projects that connect directly to the grid and power enterprise users and tens of thousands of homes. I’ve spent about two decades in the energy industry, mainly in project finance and large-scale infrastructure.

Before Treaty Oak, I co-founded AP Solar, a Texas-based firm focused on utility-scale solar projects. After seven years, we exited the company, and my partners and I used the proceeds to form Treaty Oak with a broader mission and larger geographic footprint. We launched in 2022 and sold the company to Macquarie Asset Management, a private equity investor, in the same year. I continue to lead the business as CEO.

It’s been a journey from early corporate roles to scrappy two-guys-in-a-truck entrepreneurship to running a PE-backed national developer. Every step has sharpened our approach to building and scaling renewable infrastructure.

Bandholz: How big are these projects?

Elrod: They are modern power plants spread across thousands of acres. We secure land, obtain entitlements, build the generation infrastructure, and integrate the projects into the grid. Electricity demand, once flat for years, has surged due to AI and industrial onshoring. The grid needs far more generation, and large-scale solar and storage can be deployed at speed and scale.

This year, we’ll raise roughly $1.1 to $1.2 billion in third-party capital. About $800 million will finance two Louisiana solar projects, with a third under construction in Arkansas. Together, they represent approximately 500 megawatts [the equivalent power needs for roughly 400,000 homes per year].

Bandholz: Walk us through the financing of a large solar installation.

Elrod: Project finance relies on predictable long-term cash flows. Solar assets typically have a 40-year useful life based on warranties and technology. Battery projects run about 25 years because of cell degradation. Lenders don’t lend for the full duration. They usually analyze an 18-year window and determine whether they could recover capital.

Most projects refinance around year five of operation. Lenders want repayment earlier because their funds aren’t structured to hold fixed-rate debt for decades. We pay down a portion through scheduled maturities and then refinance the rest. Long-term interest rates, not short-term, drive our financing costs. The primary lenders in this space are large European and Japanese commercial banks.

Most deals use a club structure where several lenders share the debt equally to balance risk. Another option is underwriting, where one or two banks commit to a large initial ticket and later syndicate portions to others. It speeds execution but costs more.

We’ve gone hands-on, working directly with multiple lenders instead of relying on a single underwriter. It requires additional effort but gives us better control of terms and relationships.

Between debt and equity, it’s primarily a cost-of-capital decision. Interest rates are still several percentage points above 2022 levels, which affects infrastructure returns. Even so, debt remains cheaper than equity because shareholders require higher returns. As long as project fundamentals support it, debt is more efficient and preserves equity while improving overall economics.

Bandholz: How do macro events such as tariffs and supply chain disruptions affect your projects?

Elrod: We monitor macro factors constantly — interest rates, regulatory shifts, and especially tariffs. Tariffs bring real uncertainty. Some policies may serve a strategic purpose, but others affect components that the U.S. cannot yet manufacture at the required scale or cost. Volatility is the most challenging aspect because tariff actions can change quickly.

We shift risk to customers and suppliers where possible, and stay agile. If policy signals suggest a tariff might hit, we may accelerate procurement or import components early. It’s less about a perfect strategy and more about informed, rapid adaptation.

Solar panels are a significant cost driver, but so are steel pilings, racking systems, copper and aluminum cabling, and engineered materials. Some manufacturing exists in the U.S., and more will grow, but not enough to meet current utility-scale demand at the required price or quality. Global supply chains remain essential.

Tariff risk is exactly why contract structure matters. We can’t commit to pricing and later absorb unexpected cost increases that eliminate project margins. We’ve avoided that so far by locking in supply-chain terms early and keeping customer pricing stable from the start. Our goal is to shield customers from volatility while protecting shareholder value. That requires constant coordination, nimble procurement, and effective risk transfer.

Our customers — major corporations and operators — need reliable, clean power to support accelerating electricity demand. Solar generation combined with storage remains the fastest, most scalable solution.

Bandholz: How have you built your team?

Elrod: Our power markets team manages sales end-to-end. They identify customers, respond to requests for information and proposals, submit projects, and run procurement and communication. I support them, but they lead the process.

Our company has grown from about 17 people when we sold to Macquarie in 2022 to over 100 today. Building the right culture has been essential. Our message is “execute with excellence,” and that means staying vigilant across every part of the business.

Hiring has been challenging. Post-Covid labor dynamics and the U.S. Inflation Reduction Act in 2022 increased competition and wage pressure. We sometimes hired too quickly to fill roles. Now we use structured scorecards for senior positions, with clear criteria aligned with the company’s objectives. Our people and culture team works closely with hiring managers to ensure each candidate is the right fit. We maintain transparency and quarterly performance alignment to keep teams focused and accountable.

The U.S. still offers enormous opportunities. Demand for electricity, infrastructure, and clean generation is expanding rapidly, and the market has the capacity to support substantial growth.

Bandholz: Where can people reach out to you or get advice?

Elrod: Our website is TreatyOakCleanEnergy.com. Reach out to me on LinkedIn.

Natural Toothpaste Propels Wellnesse.com

Seth Spears is a Colorado-based entrepreneur who once taught consumers how to make their own non-toxic personal care products. He says customers valued the results but not the actual production process. “They kept asking us for ready-made versions,” he told me.

So he launched Wellnesse, a direct-to-consumer brand producing all-natural self-care goods, in 2020. Toothpaste quickly became the dominant item.

In our recent conversation, Seth shared the origins of Wellnesse, the demand for holistic oral care, marketing challenges, and more.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Who are you, and what do you do?

Seth Spears: I’m the founder and chief visionary officer of Wellnesse, a B Corporation that produces all-natural personal care products. Our flagship item is a mint-flavored whitening toothpaste, made without toxic ingredients such as fluoride, glycerin, or sodium lauryl sulfate. We believe what goes in or on your mouth affects your entire body, so our focus is on safe, effective alternatives that outperform conventional options.

Our toothpaste’s key ingredient is micro hydroxyapatite, a naturally occurring mineral that makes up your teeth and bones. Unlike fluoride, it helps remineralize and repair enamel, filling soft spots and even reversing minor cavities. We’ve received hundreds of testimonials from customers who’ve seen major improvements in oral health.

We also use extracts from neem, a tree native to India, for whitening, and green tea extract for overall gum and tooth health — ingredients that work synergistically for stronger, cleaner teeth. Many customers with sensitive teeth, often longtime Sensodyne users, report reduced sensitivity and better results after switching to our toothpaste.

Before Wellnesse, I co-founded Wellness Media, a health education company that taught people how to make their own personal care products. Our audience loved the results but didn’t want the hassle of making them, so they kept asking us to sell ready-made versions. As an entrepreneur, I recognized repeated demand as a business opportunity.

We launched Wellnesse in 2020 as a natural personal care brand, starting with toothpaste, shampoo, conditioner, and deodorant. While we still offer all those, oral care quickly became our most successful category and is now our primary focus.

Bandholz: Many consumers are rethinking fluoride and turning to holistic dentistry.

Spears: We work closely with holistic and biological dentists through an advisory board that reviews the latest science on safe, effective oral care. These practitioners reject outdated methods such as routine drilling and fluoride use, instead emphasizing the role of diet, supplements, and the natural oral microorganisms.

We partner with influencers and communities that value non-toxic living. Our customers aren’t looking for the cheapest option; they want products that align with a clean, health-conscious lifestyle. They’ve often dealt with dental or health issues and are now seeking a more advanced, fluoride-free option.

As awareness grows around the connection between lifestyle and oral health, holistic dentistry continues to gain momentum. Consumers are questioning ingredients and demanding transparency.

Bandholz: So you’re growing through these practitioners. How do you find them?

Spears: There’s a strong network of holistic and biological dentists with their own organizations and conferences. We’ve sponsored several of those events in recent years to build relationships and raise awareness of our products.

Many connections also happen organically. When customers mention their holistic dentist, we often ask for introductions. Sometimes those dentists reach out after patients recommend us.

We maintain both affiliate and wholesale programs. Some dentists stock our products, while others prefer to promote them. We provide samples for dentists to share with patients, to experience the benefits firsthand. This multichannel approach ensures our partnerships remain authentic and genuine.

Bandholz: What marketing tactic is working best in 2025?

Spears: Growth has slowed in 2025. It’s been a challenging year. Meta remains our primary customer-acquisition channel, but performance has declined compared to previous years. We’re still bringing in new customers there, but it’s taking more testing and creativity to find what resonates.

Our most effective Meta approach has been a “us versus them” comparison, showcasing our clean, natural ingredients side by side with those in major brands. It highlights how our formulas are safer and more effective without being confrontational. We avoid targeting specific corporations directly. Procter & Gamble and similar enterprise brands have deep pockets and legal teams, and we’re not looking for that kind of fight.

We’re experimenting with Reddit ads, especially in health and oral care subreddits, as well as some campaigns on X. However, the results have been weaker on those channels. We’re now in full testing mode, trying different angles and messaging. We often focus on ingredient quality, but we also use influencer-style videos featuring real customers.

We had a strong email list (from my Wellness Media company) built through educational content — podcasts, blogs, and tutorials focused on health, vitality, and natural living. We regularly sent newsletters featuring recipes and DIY personal care guides, which helped us cultivate a loyal, informed audience.

When we launched Wellnesse, that list gave us a ready-made customer base. Many of those subscribers prioritized holistic health, and several became affiliates.

The landscape has undergone significant changes since then. Traditional affiliate marketing, based on content sites and email lists, has largely shifted toward influencer marketing on social media. Today’s promotions rely on selfie-style videos and personal testimonials, which feel more authentic to audiences. To me, this trend is too self-focused — but it’s undeniably where attention and conversions are happening.

An agency manages our ad strategy, so my focus is on broader direction and messaging rather than daily campaign tweaks. Overall, there’s no single breakthrough channel at the moment. It’s about constant experimentation and adapting to the changing ad landscape.

Bandholz: I heard that once enamel is gone, you can’t rebuild it. Is that true?

Spears: Not entirely. Teeth consist of hydroxyapatite, so when toothpaste contains that mineral, its tiny particles can penetrate crevices and help remineralize enamel. But oral health isn’t just about brushing; it’s also heavily influenced by diet and mouth acidity.

If you’re consuming a lot of processed or sugary foods or drinking soda, your mouth becomes more acidic, which can lead to cavities. Brushing helps, but it can’t fully offset a poor diet. A nutrient-dense, low-sugar diet rich in protein and vegetables supports stronger teeth and overall health.

I prefer a paleo-style diet — lean meats, fruits, vegetables, nuts— but there’s no one-size-fits-all approach. Everyone’s body chemistry is different. Getting blood work and allergy testing can help you understand your individual needs and optimize both oral and full-body health.

Bandholz: Where can people follow you, reach out to you, buy your products?

Spears: Our site is Wellnesse.com. My personal website is Sethspears.com. We’re on Instagram and Facebook. Find me on LinkedIn.

Etsy Merchant Eyes Shopify, Dual Brands

Kevlyn Walsh is a Denver-based art teacher turned entrepreneur. She launched Festive Gal, an Etsy shop, in 2019 after her handmade headband was a hit among Christmas party attendees.

Fast forward to 2025, and Festive Gal is thriving, selling custom gifts and party supplies. A new second site, Bake It Fancy, on Shopify, sells cooking accessories.

Amid the growth, Kevlyn manages employees, production, and, yes, Etsy constraints. She addressed those challenges and more in our recent conversation.

Our entire audio is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Who are you, and what do you do?

Kevlyn Walsh: I run two brands. My first, Festive Gal, grew mainly on Etsy and offers custom gifts and party supplies to make life more fun. My second, Bake It Fancy, is a new brand focused on baking accessories that help people create beautiful cookies.

Bake It Fancy evolved from a best-selling Festive Gal product. It performed so well that I decided it deserved its own identity. Festive Gal celebrates parties and gifting; Bake It Fancy is all about creativity in the kitchen.

Etsy is how I became a business owner. Before opening my shop, I had no idea what a conversion rate was or how to sell online. It all started with an ugly Christmas sweater party. I made an over-the-top holiday headband covered in tinsel, bows, and a tiny elf.

Everyone loved it, so I made more, opened an Etsy shop, and sold out by Christmas. That success inspired me to keep creating new products and following party trends.

At first, I was still teaching full-time, but my Etsy sales eventually surpassed my teacher salary. By 2019, I quit teaching to run my shop full time — and I’ve never looked back.

The original headbands were too labor-intensive to scale, so I simplified them into paper party headbands with customizable phrases. They became Festive Gal’s signature product. I created designs for birthdays, bachelorette parties, and trending themes — like Game of Thrones fans hosting viewing parties. I made headbands with phrases such as “Hold the Door” and “I Drink and I Know Things,” and they sold like crazy.

Back then, I didn’t think much about trademarks and used pop-culture phrases freely. Now that my business is bigger, I avoid those entirely. Using names like “Game of Thrones” could get a shop flagged. It’s frustrating because Etsy is still full of Disney and other IP-based items, yet enforcement feels aimed at successful sellers. I’ve explored licensing, but the costs, reporting, and low margins made it more hassle than it was worth.

Bandholz: How do you manage custom orders on Etsy?

Walsh: Etsy’s basic customization tools aree limited. Each listing includes an input field that customers must complete before adding an item to their cart, to help prevent missed details. However, sellers only get two dropdown menus and one text box. I have to simplify the listing or get creative for buyers to choose multiple options, such as color, font, and size.

That lack of flexibility makes Etsy’s user interface challenging for complex customizations. In contrast, Shopify has apps that allow unlimited dropdowns and far more personalization features. On Etsy, if a buyer forgets to include key details such as the name for a custom item, I have to message her directly. That extra communication can be time-consuming and slow down production.

Bandholz: How does Etsy define “handmade”?

Walsh: It’s ironic that Etsy promotes itself as a handmade platform. Real success there requires efficiency and operations. To scale, you need systems, employees, and streamlined production — but you can’t build that until you have sales. It’s a catch-22. I’ve had products go viral, but there’s a limit to how many we can make before delays frustrate customers. Etsy doesn’t provide the tools sellers need to manage growth efficiently.

For example, there’s no multi-user access. I can’t give a virtual assistant or employee their own login to handle messages or shipping without sharing my banking information. That makes delegation risky.

As for “handmade,” there’s a lot of gray area. Some sellers import mostly finished products — items 90% made in China — and add customization in the U.S. through embroidery or vinyl. Etsy allows some flexibility there, but the rules are vague. The guidelines mention terms such as “made, sourced, or designed by seller,” which are open to interpretation.

In Etsy forums, sellers debate what those definitions mean and worry whether new policies could jeopardize their shops.

Bandholz: What advice would you give someone considering selling on Etsy?

Walsh: First, define your goals. The platform is perfect if you want only to make “fun money” from a craft you love. Enjoy the creative process, make products that delight you, and celebrate each sale.

But if your goal is to replace your full-time income, you have to approach Etsy strategically. Choose a product that can scale efficiently. On Etsy, sales compound. The algorithm rewards momentum, so when a listing sells, it signals that people want that product. Etsy earns a percentage of each sale, and it promotes listings that generate revenue. So the more you sell, the more exposure your products get.

Plan early for operations. Will you hire help? How will you handle shipping? Can you manage rush orders for personalized gifts?

Etsy customers often order last-minute, so reliability is key. I’ve worked through the flu to meet deadlines because I didn’t want to disappoint buyers. Now that I have employees, that stress is lighter, but it took planning and growth.

Bandholz: Is Etsy your main sales channel?

Walsh: Yes, Etsy is still my primary source of sales, and I’ve had great success there. But the platform’s overall traffic has declined. I think part of the issue is quality control — Etsy has allowed too many low-quality sellers. Cheap, mass-produced items clutter search results. It’s lost some of the curated, handmade charm that made it special.

Because of that, I’m working to grow off-platform. Relying solely on Etsy feels risky, especially with how inconsistent their seller support has become. Recently, Etsy deployed AI bots to remove non-handmade listings, but the system often flags legitimate shops.

Many legitimate sellers have had top-performing products or entire shops deactivated with no way to reach a human for help. It’s a tough situation for honest creators trying to run real handmade businesses.

Bandholz: Is the new baking brand on Etsy, too?

Walsh: No, I’m building Bake It Fancy on Shopify and driving traffic through Meta ads and content creation. I even converted part of my warehouse into a “media room” with a fake kitchen and a real oven from Home Depot, so I can film baking videos and tutorials. My goal is to grow this brand independently, without relying on third-party marketplaces.

I’ve learned a lot about ecommerce after years of running Festive Gal on Etsy. Now I’m ready to apply those lessons — using Shopify, ads, and content — to build a brand with full control.

Content creation used to be hard for me. I have a three-year-old and a one-year-old, and my home kitchen isn’t ideal for filming. This new setup makes it easier and more fun. Plus, baking content is naturally engaging. Watching someone decorate cookies is satisfying and creative.

With Festive Gal, I never relied on content since Etsy brought steady traffic. But Bake It Fancy is different. Cooking is so demonstrable and visual that I can easily film with just my hands, and I don’t even need to get camera-ready every time.

Bandholz: Where can folks buy your products and follow you?

Walsh: My Etsy shop is Festive Gal. Festive Gal also has a Shopify website, FestiveGal.com. BakeItFancy.com is ramping up. I’m on Instagram and LinkedIn.

Batch Cannabis Scales to $50 Million

Andy Gould co-founded Batch, a Wisconsin-based D2C cannabis brand, in 2018. He says the company struggled for years until it perfected content creation and advertising. “Once we dialed in our Meta ads and built a strong creative flywheel, everything took off,” he told me.

I first interviewed Andy and his two co-founders in 2023. In this our latest conversation, he addresses video production, regulatory scrutiny, and “hockey stick” growth — from annual revenue of $5 million to $50 million in two years.

Our entire audio is embedded below. The transcript is edited for clarity and length.

Eric Bandholz: Give us the rundown.

Andy Gould: I sell weed online. My two best friends from college and I started Batch, a cannabis-based gummy brand that’s now one of the biggest in the U.S.

In 2023, we had $5 million in annual revenue. In 2024, $15 million. And this year, we’re on track for $50 million. It’s been true hockey-stick growth. For years, we plateaued at roughly $15,000 in daily Shopify sales. Once we dialed in our Meta ads and built a strong creative flywheel, everything took off.

Customer acquisition costs have stayed relatively stable. We used to spend about $5,000 a day on Meta, with customer acquisition costs running around $65. Now we’re spending close to $50,000 daily, and CPAs are roughly $75.

Sales of THC — tetrahydrocannabinol, the cannabis compound — are booming. Many customers are replacing alcohol or trying THC for the first time. We position Batch as a trusted dispensary alternative — THC for the everyday person who prefers delivery from a transparent, reliable brand.

Bandholz: How did the Meta flywheel scale you from $5,000 to $50,000 per day?

Gould: We were inspired by Paul from BK Beauty at EcommerceFuel Live. He talked about using a creative flywheel to generate quality content efficiently.

We had two big challenges on Meta. First, we’re in a restricted category. We studied how to advertise without losing our accounts. We connected with others in similar spaces, learned the language and visuals Meta allows, and used those insights to stay compliant.

Then we focused on volume — creative is the new targeting. We can tell an authentic story because we handle much of our manufacturing and even help harvest crops.

Once a year, we hire a crew for around $15,000 to film everything on-site, generating hundreds of content assets.

We spend about 7% of revenue on creative. Our internal team and an agency turn that raw footage into 40 new videos each week, testing about 10 different concepts with multiple hooks or calls to action.

Bandholz: So you’re actually on camera, talking about the product?

Gould: Exactly. You see me walking through the field with our farmer, Rollin, explaining how he’s up at 4:30 a.m. every day, living the American dream. Then we’ll switch to a science angle — me on a tractor showing a certificate of analysis and explaining everything. We create about 20 ideas like that in two days of filming.

Across the two days, we capture roughly 48 hours of footage since we have two videographers filming different people simultaneously.

The key is building a system to recycle and repurpose everything. We have a team dedicated to organizing and tagging footage. They label each file by angle, environment, or who’s in it — like a Dewey Decimal System for videos. That organization makes editing and repurposing much faster.

We recycle footage for years. Main narratives can become B-roll; farm content combines with warehouse clips from past years. It’s the snowball effect: the more you film, the more combinations you can create. Success is about grabbing attention. Meta rewards consistent, engaging content.

Bandholz: How much revenue is from new versus repeat customers?

Gould: When we started selling THC and CBD gummies, we didn’t realize how powerful it was to have a consumable product that people naturally reorder. Right now, about 55% of our revenue comes from repeat customers and 45% from new ones. That balance shows our strong retention and steady growth.

Subscriptions have been huge for retention. I’d recommend any ecommerce brand with a consumable product to set up subscriptions. It builds momentum over time like a snowball.

Between subscriptions and consistent email outreach, we’ve built reliable recurring revenue and strengthened customer loyalty.

Bandholz: Have you experienced supply chain or fulfillment glitches?

Gould: Yes, but thankfully nothing catastrophic. Growing this fast naturally means there are fires to put out every week. It’s part of the process. We handle some of our own manufacturing and fulfillment, which is both a blessing and a curse. The benefit is complete control; the downside is that every problem is ours to fix. There’s no 3PL to call when something goes wrong.

We’ve had to expand our fulfillment and warehouse teams quickly, which brings its own challenges. Finding and keeping reliable workers for manufacturing and fulfillment is one of the toughest parts of running this kind of business. We put a lot of focus on retaining good people once we find them, because strong operations depend on a stable, motivated team.

But our revenue has grown faster than our headcount. We’re fortunate to have an amazing team overall.

Right now, we have about eight high-level or managerial team members, plus around 10 people in fulfillment and another 10 in our warehouse and production operations.

We’ve stayed lean out of necessity. For the first five years, it was pure survival mode — long nights, lots of stress, and moments of frustration when nothing seemed to work.

Everything has happened so fast. It’s been life-changing. After struggling for years, it feels incredible to build something stable. My two co-founders and I are starting families, so having a financial cushion means a lot.

A big untapped area for us is beverages — THC-based drinks. We haven’t entered that market, but we’re starting to think about it.

Right now, though, most of our focus is on politics and lobbying. We’re selling in about 42 of the 50 states. Earlier this year, it was 48. But the regulations are tightening state by state. That’s been the biggest challenge lately.

Bandholz: How does lobbying work?

Gould: There are a few lobbying groups in the hemp space. The most influential is the U.S. Hemp Roundtable, which we’re a part of. We pay our dues, and that money goes toward lobbying — getting policymakers to understand and support our side.

My co-founder Dennis flies to D.C. every couple of weeks, meets with legislators, and drives to Madison, our state’s capital, about once a week. We’re getting involved at the state level where legislation threatens to ban our products.

We’re pro-regulation. The issue is that the 2018 U.S. farm bill made it legal to sell hemp-derived products with less than 0.3% THC. But if you push that rule to the limit, you can create products that are way too strong.

So politicians see that abuse and overreact by trying to ban everything, rather than simply limiting serving sizes.

Bandholz: Where can people buy your products or reach out?

Gould: Our site is HelloBatch.com. I’m on LinkedIn.

E-Bike Founder’s Path to Purpose

By late 2023 Aaron Powell had become disillusioned with Bunch Bikes, the electric cargo bicycle company he founded in 2017. Costs were rising, cash was scarce, and the supply chain was chaotic.

He contemplated chucking it all, selling the business, and moving his family to Europe from his base in Texas.

Then he reconsidered. Bunch Bikes had many positives, including a sense of purpose and meaning from improving customers’ lives. So he stayed.

Aaron first appeared on the podcast two years ago. In this latest conversation, he addressed business uncertainty, resilience, family, and more. Our entire audio is embedded below. The transcript is condensed and edited for clarity.

Eric Bandholz: Who are you, and what do you do?

Aaron Powell: I’m the founder and CEO of Bunch Bikes, an electric family cargo bike company based in Texas. Think of it as the minivan of bikes. It carries pets, groceries, and up to six kids, all with electric assistance and a fun, smooth ride.

I first saw the concept in Copenhagen in 2012. Cargo bikes are hugely popular in Denmark, Sweden, and the Netherlands, where cycling is central to daily life.

Here in the U.S., far fewer people use bikes for everyday transport, but the potential market is enormous given the population. Awareness of cargo bikes remains low, even within the industry.

Running a bike company over the past few years has been intense with the pandemic and supply chain chaos. By late 2023, my wife and I were reevaluating our lives. We wondered if we’d be happier living elsewhere and began planning a move to the Netherlands. We spent months exploring cities, hiring an immigration lawyer, and figuring out logistics.

During the process, we realized that moving would mean leaving behind friends, family, and community. Our network here in Texas is meaningful. Starting over in a new country, always feeling culturally out of place, didn’t feel worth it.

We decided to stay and focus on making the most of our current life.

Bandholz: You alluded to the business challenges. Did you consider selling the company?

Powell: Yes. I nearly sold it when contemplating the move. We went through the steps of finding a buyer, completing due diligence, and planning the close. I was motivated by fear of uncertainty and market changes.

But the process made me see the positives. We were acquiring customers without running ads, referrals were strong, and our brand equity was driving sales. My team is rock solid — competent, trustworthy, and experienced. I can step away, and the business runs smoothly. That made me question why I’d sell something so well-established.

I’ve found that true value comes from building something meaningful that impacts others. Starting over from scratch doesn’t excite me. Appreciating what we have now has made me excited to tackle new challenges. Demand for our products remains strong. People still want bikes, so why not trust that there’s a path forward and focus on what we already built?

Bandholz: Was your team aware you were considering selling the business?

Powell: No, they weren’t. I didn’t want to spook anyone; employees naturally worry about job security. During the process, it was important to keep operations steady and minimize disruption. I’m usually transparent, but not in this case. Afterward, I debriefed them, revealing that I almost sold, but didn’t, and why.

Their response was impressive. They stepped up, took on responsibilities I usually handle, and kept the business functioning without issues. It made me appreciate their capabilities and commitment even more.

In hindsight, I could have shared some of this context sooner, but the debrief built deeper trust.

Bandholz: How do you balance business risk with the ability to adapt?

Powell: I thrive when I’m constrained. Clear, specific problems trigger my creativity. Open-ended situations, where anything is possible, are more challenging for me.

For example, when tariffs increased recently, I became an idea machine, exploring every solution. I didn’t panic. That mindset helps me focus on actionable steps rather than fear.

Looking ahead, I anticipate sales slowing or retail prices becoming unsustainable. I’m tackling it by reducing debt and increasing cash. One approach is to tap our loyal customers through a Wefunder equity raise. I’d rather give up some ownership now to secure financial flexibility.

Having cash on hand gives me time to solve problems. Plus, it’s extra capital to grow the business. The key is to act proactively, turning uncertainty into a problem-solving opportunity rather than letting fear freeze you.

My first ecommerce business was selling kids’ jewelry on Amazon. I realized making money alone wasn’t fulfilling. I wanted purpose and meaning. I was working minimal hours, but it didn’t feel impactful.

When I started Bunch Bikes, I intentionally built something more complicated, capital-intensive, and slow to scale — but deeply meaningful. Improving our customers’ lives makes all the effort worth it.

Bandholz: Where can people follow you, buy the minivan of bikes?

Powell: Our site is Bunchbike.com. I’m on X and LinkedIn.

Alibaba.com Exec on Suppliers, Tariffs, IP

Few companies have done more for global prosperity than Alibaba.com. Launched famously in China by Jack Ma, a former school teacher, in 1999, the company now connects 200,000 suppliers with millions of retail merchants. Suppliers grow, retailers diversify, and consumers have more choice for less money.

Yet the B2B giant is not perfect. Language differences, intellectual property theft, and quality control can upend a supplier-buyer relationship.

Rah Mahtani is Alibaba.com’s head of commercial strategy in the U.S. In our recent conversation, I asked him about those challenges, tariffs, and more.

Our entire audio is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Tell us who you are and what you do.

Rah Mahtani: I oversee commercial strategy in the U.S. for Alibaba.com, the world’s largest B2B marketplace for small business owners. With over 200,000 suppliers and 200 million products, the sheer scale can be overwhelming at first.

The platform’s foundation is search and discovery. When sourcing, start by typing in the product you need. To vet manufacturers, check their tenure on Alibaba. Four or more years is a good sign. Seek ratings of 4.5 stars or higher, and ensure the on-time delivery rate exceeds 95%.

Confirm they can customize products, and they hold relevant credentials, such as organic certifications for natural goods. Authentic suppliers typically display these clearly.

Finally, review factory photos to confirm they’re true manufacturers, trading companies, or resellers. Alibaba verifies many suppliers through third-party checks — confirming the legitimacy of their business registration, facilities, and certifications — helping buyers connect with credible partners.

Bandholz: How should merchants communicate with overseas suppliers and build strong relationships?

Mahtani: Most Chinese manufacturers have English-speaking sales teams skilled in working with international buyers. Still, Alibaba.com includes built-in translation tools — even live video captions that translate in real time — making cross-language communication smooth.

ChatGPT translations are also effective. I often use them to chat with Mandarin-speaking colleagues, and they consistently say the translations are accurate and natural.

Don’t reach out to a potential supplier without first thoroughly understanding your product. For instance, when sourcing silverware, knowing the metals, finishes, and durability options enables clear and efficient communication.

Next, approach negotiations with respect. Both parties have margins to maintain, so avoid pushing for unrealistically low minimum order quantities that could strain the supplier. Set clear expectations upfront, including timelines, shipping methods, and delivery requirements. For beginners, a Delivered Duty Paid option simplifies logistics, while experienced buyers may work with freight forwarders.

Suppliers expect negotiation — there’s usually flexibility in pricing and order minimums — but transparency and fairness build trust.

Bandholz: What are the primary locations of manufacturers?

Mahtani: Key manufacturing hubs are China, Vietnam, Mexico, Bangladesh, Pakistan, and Thailand — each excelling in specific product categories. Alibaba.com works to digitize these suppliers, helping them develop global sales skills and connect with international buyers.

One advantage of Chinese manufacturers is their ability to accommodate smaller order quantities, ideal for testing new products or limited runs. Others, such as in Mexico and Vietnam, are improving but still catching up in this area.

Nearly half of Alibaba’s global buyers are U.S.-based, but only a small percentage of manufacturers. To meet growing demand for faster shipping, many international manufacturers now warehouse goods in the U.S.

On Alibaba’s home page, users can search by products and manufacturers, and filter by country.

Bandholz: How have tariffs affected Alibaba and its customers?

Mahtani: Tariffs create uncertainty, so our priority is to provide quick solutions to adapt, such as relocating manufacturing facilities or assistance in calculating ever-changing duties.

After the tariff announcements in May, a trend emerged on TikTok with factories claiming to manufacture for major brands. Using our data and agreements, we clarified that legitimate factories wouldn’t disclose their customers. We highlighted Alibaba.com as a reliable source.

Tariffs sparked a massive surge in interest in global sourcing, propelling Alibaba to become the number one shopping app in the U.S. on Apple’s App Store. Experienced buyers also saw opportunities, ramping up sourcing for seasonal products such as holiday decor.

During the 90-day tariff pause, manufacturers and buyers collaborated to produce and import products before higher duties applied.

Bandholz: On Alibaba, it seems a single manufacturer may operate under different names.

Mahtani: Yes, some factories use multiple names. Alibaba manages this with a large category team that meets suppliers daily, verifies certifications, and ensures compliance. AI tools also check for duplicates, inaccuracies, intellectual property issues, and inauthentic listings.

For high-volume or experienced merchant buyers, our Request for Quotation tool is ideal. Input all product requirements — materials, features, finishes, even zipper types — and send the request to multiple manufacturers simultaneously. RFQs streamline sourcing, enabling buyers to compare credentials, verify manufacturer authenticity, and make informed decisions.

Bandholz: How can brands protect their designs from being copied when sourcing products from China?

Mahtani: Copying is a genuine concern. Alibaba has strengthened IP protection through a dedicated team, AI tools, and legal oversight. Merchants can report infringements or submit proof of their own patents and trademarks, allowing the team to act on their behalf. Human review complements AI monitoring, with staff manually checking listings daily.

Brands should document all communications with suppliers — through chat, email, WhatsApp — and keep screenshots. Written records are informal contracts in arbitration if disputes arise, although we recommend formal agreements, especially for molds, patents, or proprietary designs.

Try to keep all communications on the Alibaba platform; off-platform communication is acceptable if documented. However, process all payments through Alibaba.com to ensure transparency. Direct wire transfers bypass platform protections and remove recourse.

Clear documentation, formal agreements, and platform payments are key to protecting intellectual property.

Bandholz: How do merchant buyers ensure product quality matches their samples?

Mahtani: We strongly recommend third-party inspectors, either from our approved list or one you choose independently. Additionally, maintain quality checks throughout production.

For example, monitor the gemstones in fine jewelry and confirm their polish or finish. For any product, request frequent photos or videos via WhatsApp, conduct video check-ins, and document quality at multiple stages. Regular oversight ensures the final product meets the original sample and reduces surprises upon delivery.

Bandholz: How can listeners check out Alibaba and connect with you?

Mahtani: Our site is Alibaba.com. We’re active on Instagram and TikTok. I’m on LinkedIn.

Subscription Pro on Growth, Churn, LTV

For 12 years Andrei Rebrov managed infrastructure and operations at Scentbird, a perfume subscription company he co-founded in 2013. He learned the importance of acquiring the right subscribers, those who stay and generate lifetime value for the business.

The key, he says, was accurate, timely analytics to assess channels, creative, and promos. Finsi, his new company, provides those metrics, enabling merchants to predict a prospect’s value over the long term.

In our recent conversation, I asked Andrei to share acquisition tactics, churn avoidance, product selection, and more.

Our entire audio dialog is embedded below. The transcript is edited for length and clarity.

Eric Bandholz: Tell our listeners who you are and what you do.

Andrei Rebrov: I’m the co-founder of Finsi, an analytics platform for subscription-based businesses, launched in 2024. We help companies acquire and retain profitable subscribers.

Before that, I spent 12 years building and scaling Scentbird, a perfume subscription service, where I served as CTO.

I handled much of the engineering, including coding the website, building back-office systems, and managing online payments and warehouse infrastructure. We launched in August 2014 and surpassed 1 million subscribers by the end of 2024. I left the company in March 2025.

We started Scentbird alongside subscription pioneers such as cosmetic brands Ipsy and Birchbox, and apparel provider Fabletics. We were inspired by Warby Parker’s “try before you buy” model, and we applied the concept to fragrances. We built our own platform, which gave us flexibility and scalability over the years.

We began with fragrances from other brands. Some were hesitant, but over time, Scentbird became a mutually beneficial partner, giving brands access to younger audiences, online shoppers, and consumers who wanted to try before committing to a full bottle. Our website’s motto became: “Date your fragrance before you marry it.”

Customers could select their monthly fragrances or receive a default “fragrance of the month.” Thousands chose the default, enabling the rapid collection of reviews and insights that brands could use to refine formulas, marketing copy, and strategies.

Subscription businesses require nonstop acquisition to stay in place. The challenge isn’t just reducing churn; it’s acquiring customers who will stay. Most SaaS companies separate acquisition and retention teams, which can create disconnects. Success comes from collaboration — aligning acquisition, retention, and operations — so the entire company functions as one system. Increasing customer acquisition spend is usually worthwhile if it improves lifetime value.

We were vertically integrated, which meant that fulfillment, logistics, and marketing had to move together. If one team outpaced the others, something would break quickly.

Bandholz: What drives profitable acquisition?

Rebrov: Accurate analytics. It’s one of the hardest parts of running a subscription business, and it’s a big reason I started Finsi. At Scentbird, we invested early in analytics because every acquisition channel behaves differently. Each has its own lifetime value, payback period, and acquisition cost, so analyzing them separately was essential.

We needed to understand what customers purchased through each channel and how these purchases affected retention. Traditional LTV calculations rely on historical data, which is typically dated. That delay makes it impossible to know if current strategies are working. To solve this, we built predictive LTV models that provided early insight — often within a month — so we could gauge the impact of new creatives and A/B tests faster.

For example, we tested a two-product-per-month plan. It initially lowered conversion rates, but predictive data revealed much stronger long-term value. That insight helped justify warehouse adjustments for the new fulfillment process.

We explored various customer acquisition channels. TikTok Shops became a top performer. Since it integrated only through Shopify, we built a faceless Shopify store connected to TikTok, routed orders through it, and shipped sample bundles to introduce users to the Scentbird experience before converting them into subscribers.

We grandfathered long-term subscribers to reward loyalty. Some stayed seven or eight years, though many churned within 12 months. Early, accurate analytics made it possible to balance growth and retention effectively.

Bandholz: What size company benefits from Finsi’s analytics?

Rebrov: It’s less about size and more about the growth stage. Each stage faces different challenges. One of the biggest is cash flow. Every physical SKU has its own lead time, so if inventory takes three months, companies must accurately forecast demand, churn, and cash flow. For early-stage brands, those with annual revenue under $10 million, we help stabilize operations and predict cash needs.

At $10 to $50 million, segmentation becomes crucial: identifying lapsed customers for personalized win-backs and recognizing high-value customers early to offer premium experiences.

At $50 to $150 million, the focus shifts to eliminating surprises and aligning systems, ensuring promotions run correctly and teams understand how one decision impacts another. Larger brands often expand into new product lines and face the same scaling issues again. Across all stages, success depends on accurate, unified data to guide smarter decisions.

Effective retention depends on understanding why customers cancel.

Bandholz: How do you do that?

Rebrov: We usually start with surveys to gather both structured and unstructured feedback. Multiple-choice questions provide quantifiable insights, but the real value lies in open-ended responses, where customers share their personal stories. Surveys let you reach thousands of people efficiently, but phone conversations are invaluable. Talking directly with customers often reveals unique motivations and use cases that spark creativity and guide product development.

Spending even 30 minutes on the phone with a few customers, especially loyal ones, can uncover more insights than analytics ever could.

Certain products naturally fit subscriptions. Examples are consumable supplements, protein powders, and snacks. But infrequently purchased goods are better suited for one-off sales.

Companies must decide early because it shapes their marketing strategy. For traditional ecommerce, profitability often depends on the first sale. You aim to cover acquisition, cost of goods, and shipping upfront, often by selling bundles.

For subscriptions, the focus shifts to lifetime value. Sellers can afford to lose money initially if they know the customer will stay long enough to become profitable. Predictive LTV helps qualify customers early and informs how much you can spend to acquire them.

Simplicity wins. Don’t confuse prospects with multiple purchase paths or offers. Ensure a “subscribe and save” offer is consistent and easy to understand.

The beauty of subscriptions lies in predictable cash flow. Yet rising acquisition costs make retention even more vital.

Bandholz: Where can people follow you, reach out to you, or hire your services?

Rebrov: Our site is Finsi.ai. I’m on LinkedIn.

Startup Vet Revives Legacy Fitness Brand

Jon Shanahan destroys the myth that founders make lousy employees. He co-founded Stryx, a men’s cosmetics provider, and is now a marketing executive at TRX, the storied exercise equipment company. He has thrived in both roles.

He joined TRX in late 2022 amid a post-Covid hangover and a stale legacy brand. Fast forward to late 2025, and TRX is refreshed and flourishing, thanks in part to Jon’s entrepreneurial mindset.

While at Stryx, Jon appeared on the podcast twice, in 2020 and 2022. In this latest conversation, he shares transitioning to a large corporation, the challenges of reviving a brand, and more.

Our entire audio is embedded below. The transcript is condensed and edited for clarity.

Eric Bandholz: What are you doing now?

Jon Shanahan: I transitioned to TRX Training as vice president of marketing at the end of 2022. TRX is the global training brand recognized for its distinctive black-and-yellow suspension straps, a bodyweight training system found in nearly every gym.

You helped us at Stryx when we launched into Target in 2022. Stryx and Beardbrand entered during a major aisle reset, which eliminated many existing brands. Four or five other companies launched alongside us, but by 2023, Target had removed all of us — even though our sales exceeded Target’s benchmarks.

TRX filed for bankruptcy in early 2022, following the collapse of the fitness boom. During the pandemic, anything fitness-related was popular, and TRX was everywhere — Nordstrom, REI, Hy-Vee. However, demand eventually dropped, and the company overextended itself.

In August, founder Randy Hetrick reacquired TRX. His goal was to modernize a 20-year-old global brand for a new generation. Initially, I wasn’t keen on moving to Florida from my home in Pennsylvania, but I eventually did, and I joined the team.

My initial focus was brand strategy. I conducted a global study — TRX operates in 80-plus countries — to clarify its identity and market role. That led to a complete refresh, including a new logo. Randy supported it, and it’s been well received.

Soon, I took over all marketing and later expanded into ecommerce and in-store retail, along with TRX’s commercial and education businesses. Unlike Stryx, where I was the face of the brand, here I’m behind the scenes, scaling a legacy brand. TRX had diehard fans, so the challenge is guiding that loyalty into growth and innovation.

Bandholz: You created a new TRX logo. Did it receive a backlash?

Shanahan: Surprisingly, no. In Europe, we have 25 long-time distributors who’ve supported TRX since Randy first sold straps himself. I was intentional in the redesign — it had to feel like TRX but with a modern edge. The heritage mattered, but it needed a fresh approach.

The decision came while we were building a new headquarters in Delray Beach. Seeing the old logo in the renderings, I realized that if we hadn’t changed it then, we never would. It marked a new era for TRX.

The update wasn’t drastic. We retained the iconic “TRX” name and black-and-yellow colors, while refining the design. Rolling it out took time because of our extensive SKUs. We phased it in digitally first, then packaging and straps, keeping costs down.

We also ensured stakeholders were on board. Distributors, retailers, and internal teams were the first to preview it. Notably, the redesign was by the original TRX designer — the same one who worked with Randy in his garage. Bringing him back gave the refresh authenticity.

The reception was smooth. For us, the new logo signaled TRX’s return and future direction.

Bandholz: You oversee retail, direct-to-consumer, and Amazon. How do you prioritize and align those channels?

Shanahan: Each channel requires a different approach. Amazon is a daily knife fight. You need competitive, lower-priced SKUs to stand out. Our ecommerce site, by contrast, is the brand’s showcase. That’s where we feature premium products and position TRX as the leader.

We manage channel conflict with multiple SKUs. For example, we sell 18 versions of the suspension trainer: two premium models on our stie, three “good-better-best” options on Amazon, and value-driven versions in physical retail.

Retail messaging is sport-specific, such as golf, pickleball, and tennis, since shoppers want programs tied to their favorite activities. On Amazon, people mostly search for “home gym” or “home strength,” so we optimize our keywords accordingly.

Our site emphasizes heritage — “the iconic strap” — and certain high-ticket products, such as our 20- and 40-pound weight vests. They wouldn’t sell on Amazon.

Beyond consumer channels, we’re expanding into commercial and educational sectors. That means learning what gyms, trainers, and pros need and then translating those insights back to consumers. After two years, I feel we’ve hit a stride — 2026 will be about strengthening those cross-channels.

Bandholz: You’ve transitioned from an entrepreneurial role at Stryx to a corporate environment.

Shanahan: Founders bring a unique skill set, but the transition isn’t always easy. For those early in their careers, I often recommend starting with an established company. You’ll get paid to make mistakes and learn valuable lessons. I spent years at Apple and a software firm before starting YouTube projects and co-founding Stryx. I can apply those lessons in a corporate role.

Joining an existing team, I leveraged my finance literacy while also focusing on listening. The first six months ideally are dedicated to understanding how things work before making any changes.

Clear communication is critical. I talk daily with leadership to share issues and align on direction, then relay that to the team. It feels like being a founder again — selling the vision, gathering feedback, and building buy-in.

Bandholz: Let’s talk about licensing. How can a brand establish those high-margin collaborations?

Shanahan: Licensing comes in two forms. In-licensing is what we did with The Ohio State University. We created a TRX strap branded with that school’s name, paid royalties, and benefited from the recognition. Out-licensing is the reverse: putting TRX on products we don’t manufacture. For that to work, our brand must carry strong market credibility.

TRX is authentic in functional training, so extending into other training products makes sense. It allows consumers to choose TRX-branded items over generic private-label alternatives at stores such as Dick’s Sporting Goods. That’s a direction we’re exploring for 2026.

We’ve had inbound interest from various companies. For example, Dick’s fitness section features Everlast resistance bands and New Balance jump ropes — products manufactured by third-party companies, which pay a 5–10% royalty. Walmart is similar, with about 60% of its fitness gear being licensed brands and 40% private label.

Bandholz: Where can people follow you, buy some TRX bands?

Shanahan: We’re at Trxtraining.com. Hit me up on LinkedIn.