Episode
#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
1:01:25
Published: Fri Oct 09 2020
Description
Sam Parr (@theSamParr) and Shaan Puri (@ShaanVP) are joined by Harley Finkelstein (@harleyf) on the pod today. Harley is the COO of Shopify. In today’s episode you’ll hear: Sam and Harley share a hilarious but effective way to recruit senior employees (0:30), Harley gives his background and how he became the COO at Shopify (2:52), Shaan brings to light some interesting emails from the early investment rounds of Shopify (9:30), Harley shares some of the major things he’s seeing in retail during COVID (19:30), Sam asks Harley which companies he’s seen that can be successful on Shopify (30:00), Harley explains how Cardi-B can build a brand on Shopify (37:55), The guys kick around ideas related to Shopify Apps that don’t exist that should exist (45:30), Harley explains the future of retail as he sees it (53:45). This episode we are partnering with Square! Square makes it easy for your business to accept payment, and so much more! Check out this week's sponsor at square.com/go/hustle! Joined our private FB group yet? It's a page where people share each others million dollar ideas or what they're already working on: https://www.facebook.com/groups/ourfirstmillion. See acast.com/privacy for privacy and opt-out information.
Chapters
The CEO of Shopify, Tobi Lütke, shares how he convinced a top candidate to leave their million dollar job at Google and join him in his mission to change the world.
00:00 - 03:52 (03:52)
Summary
The CEO of Shopify, Tobi Lütke, shares how he convinced a top candidate to leave their million dollar job at Google and join him in his mission to change the world. He emphasizes using a long-term horizon and a powerful message that aligns with the candidate's values.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
An entrepreneur shares how his t-shirt shop helped support his family, taught him valuable skills, and guided his personal and professional mission towards alignment.
03:52 - 07:21 (03:29)
Summary
An entrepreneur shares how his t-shirt shop helped support his family, taught him valuable skills, and guided his personal and professional mission towards alignment.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
In this podcast, the speaker advises individuals who are looking to start an early stage company without necessarily having a technical background to make themselves as valuable as possible by offering assistance in areas where support is needed.
07:21 - 11:29 (04:07)
Summary
In this podcast, the speaker advises individuals who are looking to start an early stage company without necessarily having a technical background to make themselves as valuable as possible by offering assistance in areas where support is needed.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
Tobias Lütke, CEO and co-founder of Shopify, discusses how he built a company that allows more than one million merchants to run their businesses online.
11:29 - 16:20 (04:51)
Summary
Tobias Lütke, CEO and co-founder of Shopify, discusses how he built a company that allows more than one million merchants to run their businesses online. He shares how he got started in e-commerce while in law school and how the Bessemer letter memo did not see the potential for online stores.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
Shopify's goal is to empower individual merchants by giving them the tools to have great shops of their own, while Amazon aims to build a giant empire.
16:20 - 21:40 (05:20)
Summary
Shopify's goal is to empower individual merchants by giving them the tools to have great shops of their own, while Amazon aims to build a giant empire. With the acceleration of digital commerce due to the pandemic, Shopify's mission could be even more impactful as retail continues to shift online.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
Shopify CEO praises high-quality products and addresses his favorite brand, Gym Shark, while discussing his admiration for DTC brands, despite concerns for brands opting out of going DTC.
21:40 - 26:30 (04:50)
Summary
Shopify CEO praises high-quality products and addresses his favorite brand, Gym Shark, while discussing his admiration for DTC brands, despite concerns for brands opting out of going DTC.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
The host discusses the importance of personalization in retail experiences and how it can make the customer feel valued.
26:31 - 29:31 (03:00)
Summary
The host discusses the importance of personalization in retail experiences and how it can make the customer feel valued. They also touch on the increasing demand for high-end wine online.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
The podcast discusses successful influencer businesses, including Jim Shark, Kylie Cosmetics, and Jeffree Star.
29:31 - 34:39 (05:08)
Summary
The podcast discusses successful influencer businesses, including Jim Shark, Kylie Cosmetics, and Jeffree Star. These influencers had established followings and were able to leverage their platforms to launch profitable online stores.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
Fashion has evolved tremendously from selling Gildan shirts at concerts to having a major impact on the global economy.
34:39 - 40:51 (06:11)
Summary
Fashion has evolved tremendously from selling Gildan shirts at concerts to having a major impact on the global economy. The shift towards e-commerce has resulted in the rise of entrepreneurship in the industry.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
The hype around drop shipping has exceeded its true value and longevity according to some.
40:51 - 45:31 (04:40)
Summary
The hype around drop shipping has exceeded its true value and longevity according to some. However, for athletes like LaVar Ball, drop shipping allowed them to access entrepreneurship in a capital light way.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
The hosts discuss the various ways to monetize hobbies, including creating physical books or using Shopify to sell products.
45:31 - 52:46 (07:15)
Summary
The hosts discuss the various ways to monetize hobbies, including creating physical books or using Shopify to sell products. They also share success stories of people who have monetized their hobbies.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
Shopify believes that the future of retail is to be where the consumers are, agnostic to physical locations, which will allow for retailers to sell wherever their consumers are and succeed in the future of retail.
52:46 - 59:15 (06:28)
Summary
Shopify believes that the future of retail is to be where the consumers are, agnostic to physical locations, which will allow for retailers to sell wherever their consumers are and succeed in the future of retail. They encourage retailers to activate different channels, like their Reverb channel for musical instruments or Shopify's augmented reality feature for stores like Magnolia, Chipp and Joanna Gaines' store.
Episode#118 with Harley Finkelstein (Shopify's President) - Why You Should Drop Out Of School and Start a Shopify Store
PodcastMy First Million
The podcast discusses the popularity of erotic fiction among women and how it can inspire entrepreneurship, as demonstrated by a listener who created an erotic newsletter for black lesbians and made $100,000.
59:15 - 1:01:17 (02:02)
Summary
The podcast discusses the popularity of erotic fiction among women and how it can inspire entrepreneurship, as demonstrated by a listener who created an erotic newsletter for black lesbians and made $100,000.