Joseph Palko

Author: Joe P.

Growing Your Business – How to Get Over the Hump

My business partner Scott and I started our first business in 1994.  We were still in college and we wanted to do something part time that we enjoyed.  We knew by the end of our first year in business that this was more than we could handle.  We either had to give up the business, or grab the bull by the horns and really grow our new company. We learned a lot over the time we ran our companies, The Ferret Store, and later Solid Cactus.  We learned that it was pretty easy to get started, but growing wasn't that easy.  The main reason is, there comes a time where in order to grow, you can't do everything yourself.  Learning to delegate, and trust others is not an easy task, especially when it was you who grew the business to where it is today... But the truth is, there is only
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Why Should an e-Commerce Merchant Consider Migrating to 3dcart?

It's no secret that I am the CMO for 3dcart, so I wanted to put this out there so anyone who reads this knows this from the start.  I'm not trying to manipulate anything - I work for 3dcart.  This being said... More and more entrepreneurs are jumping into the e-commerce arena every single day, so it's no wonder a horde of shopping cart software is also available at present. With such beneficial programs within easy reach, it's never been this simple to build your very own online store and launch your Internet business. If you haven't been feeling happy and satisfied with your current e-store builder or you feel that there's something lacking at the moment, perhaps it's high time you took a closer look at other providers who can possibly give you what you're looking for. 3dcart is one resounding brand in this plethora of e-commerce website builders, as it
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Recent Interview With Terry Lin @ Build My Online Store

I recently had a great interview with Terry Lin at Build My Online Store.  It is now live!  Feel free to stop by and take a listen at your leisure.  You can find the interview here... http://www.buildmyonlinestore.com/podcast/episode-62-advice-from-a-20-year-e-commerce-veteran-with-joe-palko-at-3d-cart/ Here are some of the topics discussed... 04:00 – What was Joe’s first e-commerce business in 1994? 08:00 – Landscape of E-Commerce in the 2000s 11:30 – Fundamental truths of success in E-Commerce 13:00 – Selling a $12M business that was gradually losing profitability 15:30 – The power of a written letter 17:30 – Finding the right fit when looking for a buyer 21:00 – Calculating the true valuation for your business 25:00 – Will cataloging make a comeback in marketing? 28:00 – Why the worst-case situation is just all in your head 30:00 – Selling the second business to a publicly listed company 34:30 – Commonalities among successful store owners at 3D Cart 36:00 – Commonalities among store owners that fail 38:00 – Drop-shipping vs manufacturing 41:30
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The Ten Commandments of Social Media

I recently came across this blog post and it got me thinking. You hear everyone saying, you need to do social media, and the truth is, you do! But this article is such a great example of how social media can hurt your business. Not doing social media correctly can truly backfire. People do not subscribe to social media primarily for deals. This is not the place to self promote. If your followers are looking for deals, there are plenty of websites for them to find deals, such as Groupon and Living Social. This doesn't mean that you can't run special deals for your followers, but you need to balance these promotions in a way that your readers don't start to think that your sole purpose is self promotion. Share information. People are social, and they gravitate to social media for interaction. People want to interact. They want to tell you why
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Say Hello to Finch

Those of you who know me from the early days of The Ferret Store know that both me and the co-founder of The Ferret Store and Solid Cactus, Scott Sanfilippo have always been huge animal lovers.  So much so, that it is what inspired us to start selling ferret supplies in 1994.  I've been without a dog now for awhile and I felt it was time to adopt. Finch is 3 years old, and a mix of who knows what.  He's the sweetest dog I've ever owned, and I have owned many.  He was bounced around from shelter to foster home before he landed here with Jeff and me.  He is only partially housebroken, which is why I assume he hasn't been able to keep a family.  He is 100% pee trained, but he has issues pooping.  The good news I guess is he only poops in the same place
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I Want to Be An E-Commerce Success Story…

Today, one of my co-workers wrote an article that I wanted to share.  I have been mulling over writing this same article for the past week, and to my surprise, Bryan came in today and said, you know, I was thinking about something and I wrote an article about it.  So believe it or not, we must have some kind of screwy connection or something. Just to add to Bryan's article, I wanted to share a few common misconceptions about selling online... You cannot expect to start a small business without having passion.  Trust me, if you don't have a passion for what you are doing, you will quickly become bored. All good things take time.  This concept that so many potential business owners think that they can be successful in one month is just baffling to me. Knowledge IS POWER...  If you don't take the time to learn what you're doing, you'll
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