Ron Shah
@obviceo
Followers
16,670
Following
3,079
Media
948
Statuses
8,554
I will teach you how to run businesses | Co-Founder & CEO of @my_obvi | $40M in Sales in 40 months 🚀 Book a call with me on:
Paramus, NJ
Joined December 2021
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Pinned Tweet
It’s time to put GaaS on your SaaS! 🚀🚀
Super pumped to finally launch a project that we’ve invested 12 months + hundreds of thousands into.
It’s called
@GaaSForSaaS
(Growth As a Service) for SaaS - and the simplest way to explain what we do is:
We help you grow your SaaS
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We're planning to spend just about $3 Million in the month of November this year for BFCM
We will be spending about $1.5m on ads & another $1.3m on Inventory
Here's how we're financing the entire $3m Million, most of it interest FREE
Please RT to help others this Q4 🙏🏼 1/18 👇🏻
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2022 made founders & operators realize that JUST knowing high level metrics such as revenue is not enough to survive in 2023
Capital Efficiencies, Cost Saving & Accurate Financials/Bookkeeping are more important than ever
Here's 4 changes we made going into 2023👇🏻 RT if helpful
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I'm always on the hunt to understand if my books are "correct" & "reliable" since bookkeeping is filled with so much human error
@Lioranpi
from
@FinaloopTeam
asked me to onboard & check the financial health of my company with "real time" AI driven bookkeeping to compare accuracy
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Myth
#2
: You can't start a business with $10K
False. I'd argue its easier to start a biz with $10K & tools like
@Parker_HQ
&
@payplastiq
today then it was before
Private Label. Low MOQ suppliers. Organic Tiktok. There's many levers to pull on to start a business w/ limited $
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I’ve talked about the lack of financial education in eCom before, so let's help solve it
Introducing Obvi Finance School:
15 pages of our approach to P/L setup, financial forecasting, and management reporting
Follow, Like, RT & Comment "school" and I'll DM it to you
1K
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984
We get at least 5 DM’s per day asking us about our tech stack at
@my_obvi
So here it is 👇
Backend:
CMS:
@Shopify
Mobile App:
@tapcart_app
Tax Compliance:
@NumeralTax
P&L + Bookkeeping:
@FinaloopTeam
Credit Card:
@Parker_HQ
Customer Support:
@gorgiasio
Analytics:
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$0 to $128m per year in 6 years…
That’s how fast this brand scaled…
Here’s one of the core reasons for their success
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As mentioned,
@FinaloopTeam
was step 1 in my journey to saving money - while finding efficiencies all while chasing accuracy
Best Part: It's free to try. You can connect in less than 15 mins & experience the impact real-time financials has on decision making - often eye opening
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@damienscool
@FinaloopTeam
is so excessively easy to use. On top of that, the team is incredible.
Syncing is done at lightning speed and you’re basically getting a real time book keeper for the price of a part time intern..
Worth a demo..
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We spend about a $1m a month between advertising & op-ex
As a boot-strapped D2C brand, I wish I had known to spend less time chasing cards w/ the best rewards or cash back & focused more on cards/tools that will help create a negative cash conversion cycle
Why? Quick 🧵👇
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We're planning to spend just about $2.6 Million in the month of November this year for BFCM
We will be spending about $1m on ads & have spent another $1.6m on Inventory
Here's how we're financing the entire $2.6m Million, most of it interest FREE
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Here is a sneak peek in how we use
@FinaloopTeam
a bookkeeping platform that is powered through the use of AI.
We've been chasing accuracy since the start of time when it comes to financials and going into 2023, it will be the most imperative functionality for your business.
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Myth
#3
: You need to hire a Full Time Accountant
You don't need to hire a full time accountant. Resources like
@FinaloopTeam
gives you the legs you need to operate your finances & accounting practices at low cost & management
Fractional teams & services are your best friends
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Best Part:
@FinaloopTeam
also handles your tax prep through their packages if you decide to bookkeep with them.
I can't believe i spent years waiting 15-30 days to "close" the prior month with hopes that its accurate.
Stop waiting and start working on building transparently.
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Well said
@mrsharma
, well said.
Pretty Simple -
@Parker_HQ
for rolling net 60 terms
@payplastiq
to pay every ACH via credit card
We're in Q4, stop burning through that bank account!
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You watched us publicly build Obvi.
Now come watch as we build Paw Rangers for your best friend 🚀
There’s a superhero in all pets 🐾
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Episode 4 of
@chewonthisdtc
talks about the Operation Stack You Need in 2023
We talk about many incredible tools we use like
@Parker_HQ
@payplastiq
@tapcart_app
@getpostpilot
but given the rise in talks around AI lately, we particularly dove deep into our use of AI Accounting 👇🏻
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When we were thinking of starting Obvi
We didn’t know where to even start
I want to help to whoever I can so I created this Brand Launch Blueprint
It’s everything our team would follow if we were starting over today
RT & Comment "BRAND” and I'll DM it to you (MUST FOLLOW)
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MAJOR UPDATE:
We’ve finally got word that Obvi will be launching chainwide to 4100
@Walmart
stores this August!!!
3 SKUs // 4100 stores // 1 Incredible summer to Prep!!
To all those who sent us amazing vibes and prayers, thank you!!
Here’s to a mountain of prep work for our
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Just watched my wife deliver our baby.
I’ve accomplished nothing. Respect for women at a whole new caliber 🤯
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Want to know ALL the secrets behind building a community of +60.000 people ?
Like, everything…
Without paying a penny…
Then hit like on this post.
If I get 200 likes - I’m gonna spill our “tea” this weekend.
Gonna regret this, but whatever.
Sorry
@ashvinmelwani
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🚨 Announcement🚨
Over the last 2 months, the
@chewonthisdtc
team,
@sirRodgePodge
& I - have been silently working on building what I personally believe will be a great asset to the DTC Community
Introducing…
DTC Times
As the name suggests, it’s basically the New York
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It's officially, official.
-
In 37 days we enter 4200 Walmart stores with 3 SKUs.
Here we go! Absolute Chills!
@my_obvi
@kreatekit
@ashvinmelwani
LFG
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Finance mistakes kill DTC brands.
And a lot of these errors stem from a few common myths. Too many to break down so...
Let’s break down 5 eCommerce FINANCE myths that need to die:
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We need a Rate My Professor or a Yelp for Agencies
Like a "Rate This Agency" for Agencies but verified reviews by DTC brands
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For the past year, we’ve been building our dream home.
Brick by brick 🧱
Today, we close on a dream we turned into a goal.
🙏 blessed 🥹
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It’s time to kick off our Season 2 finale of
@chewonthisdtc
with a bang 💥
In the final episode, we’re speaking with
@harleyf
The President of Shopify…
The Community Builder…
The eCommerce Innovator…
The Entrepreneurship Enabler..
Talking with this man was nothing
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Poor cashflow management kills DTC businesses
Yet when I talk to founders, it's often not the priority
And there are a few mistakes I see ALL the time
Here are the 7 Deadly Sins of Cash Flow Management👇🏻🧵
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Did you know that the eCommerce industry suffers from a yearly revenue loss of $31B BILLION?
Why?
The answer is something we, as founders all experience yet HATE to publicly talk about…
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It’s official!!!!
We can finally share the news:
@CoffeeOvrCardio
is the official licensee of
@postcereals
!!!
Authentic Fruity Pebbles and Cocoa Pebbles flavored coffee coming this BFCM!!!
Can you tell we’re excited!?
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Creating a NEGATIVE $ Conversion Cycle is more important than ever
I worked with
@payplastiq
on a playbook on how you can use your credit partners & tools like Plastiq to create working capital w/o having to source it
Please RT if valuable
Quick🧵 + Link to Playbook👇🏻
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There's no possible way to make this day better.
LFG
@ashvinmelwani
and
@kreatekit
@my_obvi
x Walmart | October 2023
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One example of how to protect yourself and why it’s valuable to have accountant, lawyer and business mentors like a Dan Fleyshman:📝
1. Set-up a trust
2. Set-up a C Corp
3. C Corp owns the trust
4. Set-up an LLC
5. C Corp owns the LLC
6. LLC owns assets
7. Insure both the C Corp
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This man has founded not one but TWO billion dollar DTC brands
And he has a philosophy for creating product-market fit that has gotten both of his companies to value that high….
Want to steal his secrets? Keep reading 👇
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Thank you for the endless good vibes, tips and blessings!
Here we go 🚀🚀🚀
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Probably one of the coolest podcasts I’ll ever be on … driving around NYC recording a pod with
@Tshea0314
and
@chrismeadej
Incredible activation 👏👏👏
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A+++ Outreach
-
Paypal payment notification = 100% open rate
-
Clever message = you got me to chuckle at the level of creativity here which means you're creative af
-
Just to respect the hustle, I'm going to explore what you have to offer.
Brilliant.
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Here's more financial education for eCom that everyone needs to know
Finance 101:
We've partnered with
@Parkerhq_
for 13 pages of how to take control of your business using the Cash Conversion Cycle to your advantage
Follow, Like, RT & Comment "finance" and I'll DM it to you
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Spent the $8 … please start treating me differently now that I’m verified
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It’s been a hot minute since we’ve released a free resource for y’all 🥵🥵
So - if this post gets 100 likes I’ll release a 32-page document on Product Sourcing & Development tomorrow
Or… I can just keep it to myself.
I’ll let you decide
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One of our businesses has gone from 0 to 7- figure run rate in less than 6 months
We’ve almost doubled our headcount across all businesses
We just acquired a brand
Things are going pretty fast at the moment
But…
It wasn’t always like this
For a loooong time, it was
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Software as a service is dead.
For most SaaS companies, tech is becoming a commodity.
And if it’s not - it will be once they get a bit of traction.
That's why I’m a big believer that the new model is Software WITH a Service.
A combination of a tech tool supported by domain
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We hit 40% OVER our target raise of $1m! In just 27 days!
Many of you expressed interest in a 🧵 Here's what I cover 👇🏻
✅ How we syndicated 75+ E-Com Angels & DTC Founders for the raise
✅ Why Obvi is raising after profitably doing $36m+ in 39 months
Please RT if valuable🙏🏼
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3 Reasons why I believe we we are using the best 3PL for DTC.
Let me know if you’re looking for a better 3PL and if you’d like to be connected to the founder, best in class team 🙏
A quick 🧵👇🏻
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Yesterday we sent a text message via
@PostscriptIO
to our
@my_obvi
SMS base & did $20K in sales, of which $12K came in the 1st hour!
Although the revenue had us excited for a moment, what's exciting is seeing our landing page format MMS work so well
RT if valuable 🙏🏼
🧵👇
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True Classic has gone from 0 - $700 million valuation, in less than 2 years - without raising a single cent from investors or VC’s.
If there’s 1 DTC brand you should study - it’s them.
Here are 5 things you can learn from
@BYahalom
&
@RyanBartlett
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I don’t know who needs to hear this, but;
Selling out and re-stocking your products will cumulatively drive more revenue than keeping the products in stock forever.
Scarcity sells
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Special day at
@my_obvi
as we turn 3 today!
These 3 years have been filled with incredible learnings whilst building alongside
@ashvinmelwani
Here are 11 tools/services that's grown us an avg. 300% YoY, many I haven't mentioned before!
RT if Valuable Please 🙏🏼 | Quick 🧵👇🏻
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There are 4 million shopify brands
There are 40,000 brands that do 8 figures or more
There are 4,000 brands that do 9 figures or more
But...
All of the internet keeps talking about the same few ones.
So, let's change that...
Tag your favorite brand and brand founder below.
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We often get asked, "how do we talk to our community" or "how do we interact with our customers" over at
@my_obvi
We dived into it on Ep. 1 of
@chewonthisdtc
and how to simply just get started.
Create a Survey. Incentivize Around the Survey. Study the Results. Apply Learnings
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Took the red eye in from San Diego after my keynote to make it in time for my son’s first day at Day Care 😭
I appreciate every moment I get to see him grow up even if that means no sleep 😂
No one prepares you for the emotional first day of leaving your child.
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I want a VA but I dont wan to pay $3k a month.
I am well aware that I will get what I pay for but I'm cheap.
What's the best option for me?
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I've had a dozen+ founders reach out to me in the past months to find out the mechanics of our $2.2m raise via
@angelist
in 8 wks
So
@ashvinmelwani
& I recorded a whole episode on it!
Here's what we cover 👇🏻
✅ How we syndicated 75+ E-Com Angels
✅ Why we raised
& much more!
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M&A - Done ✅
Super pumped to announce that we're now the official owners of Coffee Over Cardio.
We can't wait to start working on this and get this brand to the moon🚀🚀
@kreatekit
@ashvinmelwani
LFG !!!
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Y’all can keep your ship bob 3pl.
3pls should be partners not cost centers.
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Our entire operations team until +$25mm in revenue for
@my_obvi
was run by ONE person (
@melwani0226
)
He did all the finances
He did all the inventory mgnmt
He did all fundraising
But…
There’s only ONE reason why he was able to do all that by himself
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Brought him to work.
He did absolutely nothing.
Safe to say it’s his last day.
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I just recorded a podcast episode with
@wizofecom
and I’m like hooooly shit
This guy is on another level
The way he thinks
The way he communicates
The way he puts pieces together
Can’t wait till this episode drops
I’ll need to listen to this like 5 times myself.
Damn.
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Prepping for Thursdays Geek Out event has led me to teach my 37 week pregnant wife about what MOQ stands for.
And she’s really trying hard to care 😂
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"Why did you switch from Klaviyo to Sendlane"
We got this question a gazillion times, so we figured we might as well make a thread about it.
So here you have it
Klaviyo Vs. Sendlane
The good AND the bad 👇👇
RT if valuable
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Just under 3 years ago we placed our first PO for
@my_obvi
& this $10K PO was the only $ we put in.
As we journey past $30 Million in sales, I'd love to share what platforms, services & decisions we used to be able to profitably boot-strap $10K to $30m
Would this be worth a 🧵?
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You pay 2x for cheap talent.
1x payment in money
1x payment in time
This is one of the things I've learned the hard way over the last couple months
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Were making the switch to
@Sendlane
at Obvi and day 1 of migration we have a team of 5 people helping us take care of everything from flow migration and integrations to list clean up and segment buildout.
We’re going to be super public about our migration in regards to the good
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GOING ALL IN ON POSTCARDS & DIRECT MAIL
@KevinDalaeli
a great suggestion to explore this channel, can't wait to do this with our
@amazon
customers next
@mrsharma
thank you for 🔌 us to the best platform in Post Pilot
@ashvinmelwani
beat this ROI 😂
Details on our test🧵👇🏻
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Obvi going bankrupt?!
What an interesting start to our Monday.
Now normally, the way to address a person desperate for attention and making ridiculous claims is to just ignore them.
(Obvi is absolutely doing fine, just ask our investors after our last update)
But it opened up
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I never quite understood why I had to chase financial freedom quickly, because I love what I do.
Then today I missed my son's first steps and I get it.
Some things hit you harder than you realize when you're head down working.
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Controversial take:
Covid and remote work made everybody a little bit softer
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He charged $16 for shipping
And even at 60% COGS
Great profit day
Also love the simplicity in this reporting lol
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Round ✌️ pitching 2024 Walmart Growth Plans for Obvi!
Wish us luck! Let’s go
@kreatekit
@ashvinmelwani
@AlbertFayad
✈️
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We were ready for Obvi to be launched nationwide in Walmart. We had:
The team
The inventory
The money
But there was ONE thing we couldn’t have been prepared for ….
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@HireFireTeam
@mrsharma
@workweekinc
To call out something you dont agree with is one thing but to see people unsubscribe is sad, especially knowing how much value this community has gained from Nik.
If you unsubscribed, to me that comes off as you surround your life with perfection and only perfection. You come
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Internal cost drivers vs. external cost drivers
What are they and what can you do to optimize them.
That's what I've broken down below
👉 Bookmark this 👈
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Turned 32 today & this past year has been filled with meeting new people, joining Twitter, speaking at more events, growing Obvi with my two best friends
@ashvinmelwani
&
@kreatekit
& welcoming my son Ari to this world.
Can’t wait for this year to unfold🙏
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I cannot stand people that say eXpresso.
It is eSpresso.
Where are you getting the X??
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This DTC brand scaled to $150M in just 2 years
How?
By changing the language that people associated with their product...
Want to know their story? Let’s dive in
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The way you exit a relationship with a partner or vendor is more important than the way you start it.
Your reputation is everything. Never burn bridges
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We saw a 137% increase in sales from this campaign after applying the changes below.
Your customers will tell you how to sell to them - you just have to ask the RIGHT questions.
We wanted to get a deeper understanding of Obvi’s customers to send more targeted emails and offers.
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