The GDPR is Coming! What It Means For You And Your Business

E-commerce allows for scalability and immense growth if you play your cards right, but this growth comes with a price! As you branch out and start selling in other countries, you need to learn how business is conducted there and most importantly, you need to follow the rules.

Enter the GDPR….

What is the GDPR?

The GDPR is an acronym which stands for General Data Protection Regulation. It is Europe’s data privacy law, and it has been fleshed out by the EU and will take effect soon. When signed into law, the GDPR will become the most comprehensive data law on the planet, it will affect all business in Europe whether small or big, and it will influence how businesses collect data from consumers, including e-commerce businesses.

Even if you don’t do business in Europe, you still need to prepare for it because you may not be based in Europe, but the GDPR will affect you if you have European customers!

How does it work?

The GDPR gives more power to the customer over their data, allowing them to access all their information, change it, delete it, correct it or even prevent organizations from accessing it. So, essentially, with the GDPR in place, you need to be more careful about how you obtain and process people’s data.

What does this all mean?

The GDPR now puts you in charge of protecting your customer’s data and will hold you accountable if anything goes wrong. There has to be transparency when you collect and process people’s data. Under the GDPR, you will need consent to access or process your customer’s data. For example, a customer in the EU might email you and demand you clear out his/her purchase history from your store, under the GDPR, you must oblige this request.

What will happen if I don’t comply with the GDPR?

There will be consequences for failure to comply with GDPR policies. The Supervisory authorities in charge of enforcing the rules could fine you 4% of your global annual turnover. Your business reputation may suffer, and you will lose customers. If you’re in doubt of this, just ask Mike Zuckerberg 🙂

When does the GDPR take effect?

The GDPR will become effective starting May 25th, 2018.

What to do before it kicks in?

To get ready for the GDPR, you need to begin to make some updates to your business:

–    Revisit your privacy policy and your customer disclosures

–    Ensure third-party apps that you use are complying with GDPR rules

–    Consider appointing a Data, protection officer

–    Consider documenting data protection impact assessments

–    Consider revisiting methods used to obtain data and ensure they comply with the GDPR

–    Ensure you obtain consent from your customers before processing any of their personal data

–    Re-evaluate your business and determine if you will be able to comply with the GDPR rules.

Because every business is different, these aren’t hard proof steps to take for the new GDPR age, but they’re practical things to do to get you ready. The best advice here will be to consult with your lawyer so that you have a full proof backing and understanding of the GDPR and how it will really affect you.

In the wake of Facebook data privacy scandal, it is only logical that even more countries will begin to tighten the rules on data privacy in order to protect their citizens. This is one of the perks of living in the 21st century, to survive; we have to keep up with the trends, even if that trend is new data laws.

 

Keep selling guys!

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Last Wall Comments

 
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 Mike says at 23:12 et
Nice one Pat! Let me know when you reach 2k per day :)
 
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 Cyril says at 23:14 et
What do you suggest for product quality inspection?
 
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 chris says at 21:03 et
Hi friends... Is "Pet Rock" a good product to sell? seems like an eaasy winner and super original.
 
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 Rob says at 21:03 et
pet rock.. hm.. Not really.. run the numbers on the Best Seller finder.. u see most sales are made by 2-3 sellers, others are struggling. It's also too cheap of a product, Average price of the product from top 10 sellers: $13.13 (Approximate FBA fees: $2.63)
 
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 Vin says at 21:10 et
If i get return for dropshipping item?
 
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Claudia says at 21:10 et
I think we replied that before.. Please use SEARCH first! Use the dropshipper's return policy.? You can use mail forwarding (virtual office) address for package forwarding..
 
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 ED says at 21:14 et
What do I do about state taxes? What's nexus?
 
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 jo says at 21:15 et
You are responsible for collecting and remitting sales tax to a jurisdiction if you have established substantial presence in the state of delivery. Once established, you have created nexus. The threshold for this presence differs from state to state and a company’s presence in each state should be examined to determine if nexus has been established or not. A company clearly has nexus if there is a business location in the state/jurisdiction. Once you establish nexus, you are required to register as a retailer with each state before collecting sales tax for that state. Check more here https://www.reddit.com/r/FulfillmentByAmazon/wiki/business_taxes_legal
 
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 Aria says at 21:38 et
How to get those magical discounted rates for shipping within US?
 
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 jack says at 21:38 et
Try https://apps.shopify.com/shyp (Hassle-Free Fulfillment for Shopify Sellers they have good rates), also check Shippo and Stamps.com
rates within USA are USPS under 1 pound around 6-10 usd depending on the state
Also app NetParcel, shipwizmo.com
 
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 Aria says at 21:38 et
I use Flexport for shipping to FBA. works great
 
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 spooky says at 21:39 et
GUYS!! Best app for getting new sign ups for our newsletter???
 
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 Aria says at 21:40 et
Try Beeketing, SumoMe, MailChimp, OptinMonster, Klaviyo, Wheelio, Mailmunch, Pixel pop, coupon pop!
 
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 Emma says at 21:40 et
Try to build your list! For example run Facebook ad campaigns for newsletter sign ups , offer free desktop and mobile wallpaper, or how-to report. People have to put in their email, then we have a trigger set up on MailChimp to email all new subscribers the link for the wallpaper or report, plus we insert suggested products in the email. We get 300-400 sign ups a day at like 0.1 an email. Works like charm!
 
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 wing11 says at 21:40 et
Use Privvy for the popup, and the email coupon code autogenerated from Mailchimp. It's a nice combo.
 
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 Mother Wit says at 21:40 et
What fullfilment services you use?
 
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 Rob says at 21:40 et
Try Shipwire to ship to US customers and across Canada, shipwizmo.com, maybe even Fulfilled by Amazon? Also ZhenHub they have fulfillment centers around the world - China, USA, UK, Germany, Australia.
 
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 nicholas says at 21:40 et
welcome guys, i am new here.. i was wondering what upsell and funnel apps you guys are using and why?
 
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 Tyro Meg says at 21:40 et
Welcome friend I tried clickfunnels its good but not integrated with shopify.. Use clickfunnels to build your landing page for facebook ads promotions and collect leads and THEN send them to shopify via followup series..
 
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 Alice says at 21:41 et
For shopify try One click Upsell by Zipify. also Product Upsell.. You can set up rules for upsell offers. Klavio works well for retention emails..
 
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 wing11 says at 21:42 et
Are there any alternatives to clickfunnels?
 
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 Amelia says at 21:42 et
Check Leadpages it allows to gather leads on your own website so you can follow up and market to your list.
 
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 Wolf says at 21:43 et
My store is ready and doing pretty well. What app to create a contest and collect emails?
 
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 Emma says at 21:43 et
Check kingsumo.. it lets set giveaway on wordpress sites. in exchange for emails.
 
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 jo says at 22:49 et
I am about to ship soon from China...do I need to put the sku on each product or just label on the boxes?
 
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 Ron says at 22:50 et
Jo, You need your bar code on each and single item, how else amazon will receive it.. FNSKU or UPC
 
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 Chris says at 22:51 et
UPC if you are brand registered with amazon. else FNSKU. You need to see the videos of the course first.
 
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 bitmap says at 15:14 et
great course, love every minute of it!! please do more videos about facebook ads!
 
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Claudia says at 15:15 et
will do! we have facebook mastery bonus coming soon! awesome stuff
 
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Jan says at 22:47 et
Hey guys, thanks for the great course! Dont know how to say, but I have a strong thinking within myself, that it is too late to start. I know that this will probably be only a belief. Any ideas for helping me with this issue?
I am also looking for products but it's really hard to find something with the criterias the course is telling me.
What about you guys? Are you thinking similar or I am the only one here? :)
 
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Claudia says at 22:51 et
hi Jan and welcome. "is it too late" is the common fear of everyone that is getting started. What you really fear is "is it too much competition? what if my product does not fit all the criteria"? The truth is, there will be never an ideal product that fits ALL criteria. Criteria is an indication for you in which direction to look, but it does not mean that you must find ideal product that fits ALL criterias at the same time. This will never be the case.

This year is amazing time to start ecommerce, because so many new tools are developed and released and with new amazon review policies it's getting harder for low quality sellers just to buy tons of 5 star reviews and flood the market like it was last year. So i think it's getting even easier for people to stand out when most of those low quality sellers are banned for incentivize reviewes.

The great place to start looking for ideas is "Niche finder tool". http://sellslikehotcakes.co/niche_finder.php for example who know that baby towels or corner flags might be a great idea to sell? This will give you great ideas on how to find a product!
 
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 casey says at 22:52 et
Great points there... is it too late to learn new languange? too late to start a business? You set your own limits. Maybe late for you, but i will start my 4th product this year and i dont look back. more business for me :)
 
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 Mike says at 01:39 et
The right time is NOW. Amazon is BOOMING. Jeff Bezos becomes second richest person On The Forbes 400. The gold rush time is NOW.
 
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Jan says at 00:04 et
You are all right guys. Deep inside myself I know that it could and will work. For no other reason I signed to the course! Thanks a lot for your input!
 
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Xuan says at 13:08 et
Hi I'm newbie here :)! 3 days I run camp ads fb but not effective
. I till not have first sale for me :(. I don't have direction right for me? How do you make the first sale?
 
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 Theo says at 13:09 et
hi Xuan, it depends on many factors. what is your store? what product you sell? what ads you run? You might want to submit your project to Critics here http://sellslikehotcakes.co/critics.php and everyone will help brainstorming it.
 
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 little_tiger says at 12:11 et
Btw great idea for you: customized license plate... build shopify store, then source from sites like buildasign.com Then promote via Facebook ads. Like PUGS licence plate for pug owners etc
 
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 Mike says at 11:35 et
Hi guys!

Great news, as you know I've been super active and super excited about the course, and today I'm glad to announce that I have added not 1, not 2 but 3 new great videos for you!

1. Exit Strategies: How to sell your business and buy other thriving businesses
This is a video showing why and how you can buy and sell the ecommerce businesses (small or big)

2. Fullproof tips how to avoid paying huge long term storage fees on Amazon FBA
THis is great to show you how to avoid pitfalls with storage fees and get rid of slow selling product!

3. Using Crowdsourcing Campaign to boost your sales and jump start your product (Case study)
I dont always win and this is a fun video showing how i failed in crowdsourcing on kickstarter but still made $10k along the way and what you can learn from my mistakes! I hope my story will give you great ideas on how to boost your sales with crowdfunding!

By the way if you enjoy our course, please let me know, I really appreciate your reviews and your comments and questions!

You joined the course on the insane low price for first early-bird 500 betatesters (you know similar courses usually charge $150-190 or more for way less content) so your early feedback is really important to me!

If you have any questions, let me know!

Mike
Sells like hot cakes guy!
 
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 Aria says at 11:37 et
thank you mike and SLHK team ... really great quality of video and I'm glad i joined early with such a silly price. I paid $10,000 for @Amazing@ Course 3 years ago and got way less info!
 
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 Vin says at 11:40 et
thx for update, appreciated the efforts and the community has been very helpful to me!
 
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 Mila says at 15:54 et
love the tools and community! my second product is reaching $300 per day now! it WOKRS!!!!
 
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wade says at 04:27 et
Hello - Brand new here - Just wondering how long it took you to reach this point ? Also congratulations on the progress... :)