Built Online Podcast Summary

Episode: 72. From $0 to $1000/Month: How to Start a Successful E-Commerce Business with Julie Berninger
Host: Cody McGuffey
Guest: Julie Berninger
Release Date: October 22, 2024

1. Introduction

In this episode of the Built Online Podcast, host Cody McGuffey welcomes Julie Berninger, a seasoned entrepreneur and founder of Gold City Ventures. The conversation delves into Julie’s transition from a corporate tech career to building a successful e-commerce business, specifically on Etsy, and how she has empowered thousands of others to achieve similar success.

2. Julie Berninger’s Journey to Entrepreneurship

Julie shares her background as a tech professional juggling a corporate career while nurturing a side hustle on Etsy. The decision to leave a stable tech job in 2021 was driven by the desire to prioritize family and pursue her passion for entrepreneurship.

[03:00] Julie Berninger: "Once I had my daughter, I realized I couldn't live both lives at once and also have a family. So I took a chance and I left my corporate job in 2021 and I haven't looked back."

She discusses the financial strategies that supported her transition, including paying off substantial student loan debt and initially aiming for early retirement. However, her passion for entrepreneurship led her to extend her retirement plans as she became more engrossed in building her business.

3. Defining Retirement and Balancing Family Life

Julie and Cody explore the evolving definition of retirement, emphasizing the importance of flexibility and aligning work with personal passions. Julie describes retirement not as ceasing work but as having the freedom to engage in fulfilling activities.

[04:19] Julie Berninger: "For me, I like having the ability to work on mission-driven things that make me feel like I'm helping the world and make me very passionate."

Balancing entrepreneurship with family life is a central theme. Julie highlights how an online business allows her to integrate work with her role as a mother, providing the flexibility to be present in her children’s daily lives.

4. The Etsy Success Story and Transition to Digital Products

Julie recounts her initial foray into Etsy, focusing on profitable niches like bachelorette party supplies. She emphasizes the importance of selecting a niche that allows for bulk orders, which maximizes profitability while minimizing time investment.

[14:00] Julie Berninger: "Picking a low-pressure niche like a bachelorette party is good... I wanted to be making these large orders and I was selling temporary tattoos because I was living in an apartment and I needed something that would fit in a closet or under the bed."

Her journey evolves as she shifts from physical products to digital offerings after attending a conference and networking with successful digital product sellers. This pivot significantly boosted her business, leading her to specialize in digital bachelorette party items.

5. Founding Gold City Ventures: Helping Others Succeed

Recognizing a demand for guidance among Etsy sellers, Julie launched Gold City Ventures alongside her business partner, Cody Berman. The platform offers comprehensive coaching, video tutorials, and a supportive community to help aspiring entrepreneurs launch and scale their Etsy shops.

[20:11] Julie Berninger: "Gold City Ventures is about how to start a digital products Etsy shop, both from the Canva design side and then also from the keyword research and market point of view."

Gold City Ventures distinguishes itself by employing successful Etsy sellers as coaches, ensuring that members receive practical, experience-based advice. The community aspect, including Facebook groups and live training sessions, fosters accountability and continuous learning.

6. Key Strategies for Etsy Success: Listings and Advertising

Julie provides actionable insights on optimizing Etsy listings and the strategic use of advertising. She debunks the myth that a high number of listings is essential for success, highlighting that quality and market alignment are more critical.

[26:25] Julie Berninger: "The more listings give you more practice reps, and the more reps, the better you get. But you can't let that intimidate you. You got to do it just one listing at a time because you never know which listing is going to be your hit."

Regarding Etsy ads, Julie advises that beginners often benefit more from refining their products and understanding market demands before investing in advertising. Ads are portrayed as an advanced strategy for those who have already established a solid foundation.

7. Realistic Financial Goals and Growth Pathways

Setting achievable financial goals is essential, especially for those balancing business with other life responsibilities. Julie recommends aiming for $1,000 per month as a practical and impactful milestone.

[30:28] Julie Berninger: "If you are in that situation of life where it's like I would love to be a six-figure seller but the hard truth is that I don't have six-figure seller time on my hands, then getting your shop to $1,000 per month is like the best goal."

She emphasizes that reaching this goal provides financial stability and the freedom to decide whether to scale further or maintain current operations, offering flexibility based on individual circumstances.

8. Utilizing Data with EverBee for Business Decisions

Julie underscores the importance of data-driven decision-making in e-commerce. Tools like EverBee are pivotal for understanding market trends, customer preferences, and optimizing product offerings.

[34:27] Julie Berninger: "You need the best return on your time. And I use tools like EverBee to get ideas of what the market is demanding about certain products and what they like."

By analyzing data, sellers can align their products with current trends, enhancing their chances of success and ensuring their offerings remain relevant and appealing.

9. Rapid Fire Insights: Personal Favorites and Lessons Learned

In a rapid-fire segment, Julie shares personal insights and experiences that have shaped her entrepreneurial journey:

• Favorite Business Book: The Four Hour Workweek by Tim Ferriss, which inspired her to set up efficient systems and delegate tasks effectively.

  [35:45] Julie Berninger: "Everything has a process, everything has a place. And it all started with Four Hour Workweek."

• One Thing Wished to Know Before Starting: She wishes she had started her business earlier, recognizing the freedom it now provides.

  [36:19] Julie Berninger: "I wish I went forward earlier... I would have had that freedom earlier."

• Worst Advice Received: Julie criticizes the common advice to “quit your day job” without ensuring financial stability, highlighting the importance of an abundance mentality and investment in business growth.

  [36:55] Julie Berninger: "A lot of people are like, quit your job. But then it hampers you because you don't have the funds needed."

• Work Hours: On average, Julie dedicates about five hours a day to her business, though flexibility is key due to family responsibilities.

  [38:53] Julie Berninger: "I have it right now in my schedule that I'm working like five hours a day."

• Character Traits: Friends and colleagues would describe her as calm, system-focused, and highly organized, reflecting her commitment to providing an exceptional experience for her community.

  [41:26] Julie Berninger: "We're sending people gifts in the mail. We're trying to make this fun. We're doing the challenges. Like we just, we get it."

10. Conclusion and Where to Find Julie

Cody wraps up the episode by thanking Julie for her invaluable insights and contributions to the e-commerce community. Listeners are encouraged to connect with Julie and Gold City Ventures through the following channels:

• Website: goldcityventures.com
• Instagram: @goldcityventures
• Email: Email Julie

Julie invites listeners to join their thriving community, participate in workshops, and take advantage of the resources Gold City Ventures offers to accelerate their e-commerce success.

This episode provides a wealth of knowledge for aspiring e-commerce entrepreneurs, emphasizing the importance of strategic niche selection, data-driven decisions, and the value of a supportive community. Julie Berninger’s journey serves as an inspiring blueprint for balancing personal life with business ambitions, offering practical advice for achieving sustainable growth in the online marketplace.