GoodDay Software is the ERP-alternative our founders wished they had at @Chubbies. Itโs vertical, AI-native, and built specifically for Shopify brands who live & die by their inventory decisions.
Today, weโre excited to announce another $7M raise from our friends at Ridge Ventures, @FirstMarkCap , Flex Capital, @LongJourneyVC, Senguin Ventures, & @adverbvc, as well as a cadre of well-known DTC operators.
That brings our total funding to $13.5M to keep building the system weโve always wanted.
>> https://t.co/O6ogxublut
Going into this holiday season, @tomboyx is no longer stuck with a #notsuite ERP and Rachel told us, "GoodDay is the best kind of technology... It's working the way that it needs to, and it actually supports the business."
This is something we care deeply about: your ERP should help scale the team, get more leverage not get in the way of progress.
Lets go! ๐
Read more: https://t.co/tHhESgMapO
We're the only Shopify ERP that has been open and integrated from the start.
Now our partner program is "Official" - more on it here: https://t.co/he6Nz2kDEX
As a @Shopify ERP built and run by experienced brand operators, what we are doing is fundamentally different than legacy systems.
Layer on top of that, our hands-on approach to helping brands leverage AI, and you can see that what #GoodDaySoftware delivers is game-changing for brands.
Last week our CEO and co-founder @khency6 , who previously founded and ran @Chubbies, chatted about this on @ecommcowboy with @chrislukehall and @colindougherty.
Yeah, you can tell your merchandising team that data access will never be a limiter again.
In just 18 days...
750 people will fly from all around the world to join us in San Diego for Commerce Roundtable.
750 DTC and eCommerce Founders, Operators, Executives, Marketers, and agencies will join us for 2 days in the sun to learn and network.
The content: Led by @iamshackelford is the BEST he's produced and I'm excited to see the focus on practical education from our keynotes.
The networking area: 3rd time's the charm for us, we've been learning every year, we're back for our 3rd year to this venue (4th overall event) and we've designed the best experience possible.
The venue: The location is just 7 mins away from the airport, 5 mins from the heart of downtown and surrounded by water and great places to stay and eat.
The food: We will hands down give you the best event food you've experienced and plenty of it. Plus snacks. LOTS OF SNACKS and drinks all day!
The Giveaways: We gamified our show. Yes, we have sponsors, they pay for these things, but we also want you to feel the benefits. So we hand out $220,000 in different prizes: physical gifts for you and for your business.
This year: F1 Trip, 7 Day Cruise, Apple products, Pizza Ovens, Cookware, Red Light Facemasks, Cookware, Meta Glasses and much more!
Sunset Happy Hour: We have a live DJ (a brand owner in our community!) We have alternative drinks (non alcoholic but infused). We have plenty of booze. And we have water.
Great After Parties: We're going to hand all our attendees a list of the expected 20+ afterparties happening. You select what you want to have the best experience possible.
So who's speaking? Here's our lineup (in no particular order):
@jacob_posel, Indigo AI
@EricRausch, New Standard
@ChereneAubert, Growth Capital
@jordanmenard, Gravity AI
Christian Toetzke, HYROX
@ezrafirestone, oVertone
@TaylorHoliday, Common Thread Collective
Evin Catlett, Skull Candy
Eric Venn-Watson, MD, Seraphina Therapeutics
Abdurahim Shodmonov, Primal Queen
Devyn Pukteris, Sweat Pants Agency
@bryandstarck, Customer Conversations
@spencepawliw, Evolve Meta
@RytisLauris, Omnisend
@jordantwestecom, Social Commerce Club
@alexrudolphh & @TylerBrechbiel, TBAR
Kyle Yeoman, Groove Life
@ecomchasedimond, eCom Email Marketer
@voids_jannik, Voids AI
@itslukeaustin, Common Thread Collective
@BrettCurry, OMG Commerce
Umar Shaikh, Nest Marketing
@Melanie_Balke, The Email marketers
These are mostly KEYNOTES: Education led, tactical, practical, real examples and how to frameworks via presentations.
PLUS: Special live streaming happening all day via
@ecommcowboy ( @chrisukhall & @colindougherty)
And special on site pod recordings by @CommnThreadCo
Don't miss out on the community event of the year!
Beautiful sun, great people, great content, and great food.. it's gonna be a great time.
Go learn more at https://t.co/ucsL7usehH
We'll see you in San Diego! โ๏ธ
In just 18 days...
750 people will fly from all around the world to join us in San Diego for Commerce Roundtable.
750 DTC and eCommerce Founders, Operators, Executives, Marketers, and agencies will join us for 2 days in the sun to learn and network.
The content: Led by @iamshackelford is the BEST he's produced and I'm excited to see the focus on practical education from our keynotes.
The networking area: 3rd time's the charm for us, we've been learning every year, we're back for our 3rd year to this venue (4th overall event) and we've designed the best experience possible.
The venue: The location is just 7 mins away from the airport, 5 mins from the heart of downtown and surrounded by water and great places to stay and eat.
The food: We will hands down give you the best event food you've experienced and plenty of it. Plus snacks. LOTS OF SNACKS and drinks all day!
The Giveaways: We gamified our show. Yes, we have sponsors, they pay for these things, but we also want you to feel the benefits. So we hand out $220,000 in different prizes: physical gifts for you and for your business.
This year: F1 Trip, 7 Day Cruise, Apple products, Pizza Ovens, Cookware, Red Light Facemasks, Cookware, Meta Glasses and much more!
Sunset Happy Hour: We have a live DJ (a brand owner in our community!) We have alternative drinks (non alcoholic but infused). We have plenty of booze. And we have water.
Great After Parties: We're going to hand all our attendees a list of the expected 20+ afterparties happening. You select what you want to have the best experience possible.
So who's speaking? Here's our lineup (in no particular order):
@jacob_posel, Indigo AI
@EricRausch, New Standard
@ChereneAubert, Growth Capital
@jordanmenard, Gravity AI
Christian Toetzke, HYROX
@ezrafirestone, oVertone
@TaylorHoliday, Common Thread Collective
Evin Catlett, Skull Candy
Eric Venn-Watson, MD, Seraphina Therapeutics
Abdurahim Shodmonov, Primal Queen
Devyn Pukteris, Sweat Pants Agency
@bryandstarck, Customer Conversations
@spencepawliw, Evolve Meta
@RytisLauris, Omnisend
@jordantwestecom, Social Commerce Club
@alexrudolphh & @TylerBrechbiel, TBAR
Kyle Yeoman, Groove Life
@ecomchasedimond, eCom Email Marketer
@voids_jannik, Voids AI
@itslukeaustin, Common Thread Collective
@BrettCurry, OMG Commerce
Umar Shaikh, Nest Marketing
@Melanie_Balke, The Email marketers
These are mostly KEYNOTES: Education led, tactical, practical, real examples and how to frameworks via presentations.
PLUS: Special live streaming happening all day via
@ecommcowboy ( @chrisukhall & @colindougherty)
And special on site pod recordings by @CommnThreadCo
Don't miss out on the community event of the year!
Beautiful sun, great people, great content, and great food.. it's gonna be a great time.
Go learn more at https://t.co/ucsL7usehH
We'll see you in San Diego! โ๏ธ
We shipped a lot at GoodDay this summer.
You might have missed it, here's a glance:
Better embedded reporting.
Segmented P&L in our Revenue Ledger.
A much more powerful GoodDay MCP + Claude experience.
Native @Amazon FBA support.
Native @TikTokShop support.
And underneath it all, a rebuilt data foundation that makes your operational data incredibly easy to access and use.
Thereโs a pretty simple philosophy behind all of this: We consider it OUR JOB to get your trusted data as close as possible to where decisions are being made.
GoodDay does the hard work of mapping your operational processed to GoodDay, then we structure and connect your operational data, and then we mobilize your data to where you're making decisions: inside GoodDay natively, GoodDay Google Sheets application, your BI platform, or increasingly your favorite new AI application.
As you can feel, weโre moving beyond helping operators get systems place, the systems are starting to help answer the question and support our users in deciding what to do next, then act on it in the most frictionless way.
Lots shipped. Lots more coming. Lets GO. ๐
Read more here: https://t.co/11g4WjDhvS
.@khency6 was blown away by @chrislukehall and @colindougherty & what they're doing with @ecommcowboy
He saw them LIVE in-person at @Shopify #DotDev this year - So impressive, so much energy, so fun.
A couplabeers ๐ป and 5 cold brews later, he agreed to enter the Ecomm Cowboy lions den and co-host LIVE with Chris Hall next Monday, August 17th.
He'll show up CAFFEINATED and ready to talk ecommerce, building brands in the AI era, Shopify ecosystem mayhem, and whatever else comes.
Going to be a fun one!
See you Monday ๐ค
Still building your weekly sell-through report by hand combining spreadsheets every Monday morning? Stop.
1- Grab this FREE Claude skill for Shopify brands. https://t.co/vCg07WBcpy
2-drop in your Shopify exports
3- get a boardroom-ready inventory report in one prompt...Sell-through, weeks on hand, markdown, by category, all ready to go.
Today is a GoodDay.
Finally, returns accounting doesn't suck.
As of today, GoodDay is one of the only ERPs to integrate with @loop out of the box. That's right, not a custom integration that takes an army of consultants and many weeks to get live, but a seamless connection.
Join @khency6, @dave_wardell and Hannah, CEO @loop in a live discussion about this partnership and the future of inventory operations for brands built on Shopify.
New from GoodDay:
โ Transfer order receipts inside Shopify POS. Built for Shopify brands with retail locations.
โ Automated FIFO COGS pushed into Shopify's native COGS field
More details: https://t.co/dTrOFZQ8Ar
90's ERPs are #notsuite. We are different. A much less funny & equally traumatic experience just like this at @Chubbies is exactly what set @khency and team to reinvent ERP for @Shopify merchants.
@ron_ecomm@jacob_posel weโre taking a hard run at this at @gooddaysoftware - youโre right itโs not straight forward. happy to show you around. the mix of high interoperability demands and high orientation for accuracy make this particularly hard.
Thinking DTC was the most profitable channel was a mistake
5 lessons & 1 Action:
Lesson 1: DTC โ DTC
Early on, we thought DTC was the future. It's DIRECT to consumer, after all
I was wrong
As Facebook/Meta acquisition costs worsened over time, we learned DTC is a misnomer
Beholden to an algo we have no control over, a more fitting acronym is ZTC: Zuckerberg to Consumer
Lesson 2: DTC Has Benefits, but The Favorable Economics of the Good Ol' Days Are Gone:
CAC was a fraction of today
You could actually reach most of your social following
Shipping, 3PL labor, Shopify and Klaviyo were cheaper
Free shipping/returns weren't standard
etc
If you're spending the vast majority of your ad dollars on DR measured on 1 day click, solid chance adding wholesale can generate accretive incremental contribution $$, assuming you're willing to invest in brand
๐คฏ
Lesson 3: Under-Appreciated Additional Benefits of Wholesale
Predictability in CAC: the margin hit you take from retail partners, while large, does not have the volatility of DR, and certainly hasn't 2, 3 or 4x'd like Meta.
Forecasting gets a bit easier
Access Massive TAM: Wholesale = 7-10x larger than Shopify
Diversification of Cashflow Streams adds resilience, downside protection. Validation of a growth story for investors/acquirers
Higher Quality Brand Building: Physical products are touchable billboards. The quality of the impression is 1000x more impactful than an IG ad. Fuels DTC too. You look bigger & more legit when in a great retailer
Lesson 4: Avoid Hell on Earth: Get your ops house in order
Inventory Mgmt: Make sure that's in a good place. If not, checkout Kyle's @gooddaysoftware
Ensure 3PL can do wholesale: Don't learn on the day 10,000 units are going to 3 retailers each w diff't EDI rules
Negotiate COGS or terms: Rationale for "why now?" is sound since buys are going to start ๐
Lesson 5: Brand Building Drives It All
To experience any of these benefits, you've got to reach more people and get them to feel something
Classic product/offer/urgency creative has some impact, but it won't maximize the chance someone chooses you when they walk into the store, & it def won't get the retail buyer to bang down your door to carry you
You'll see Brand dollars go further here
Action:
Every brand is different, so here's an action to consider as you make the right call for you
Review DTC cost increases since day 1
Incorporate the "soft" costs on your biz like CAC volatility
Forecast continued trends. See when economic model breaks
Takes multiple years to ramp wholesale, so work back to when you need to start
Make a call
Takeaways:
Right now, few things are more important than finding incremental accretive contribution $
While all channels have pros & cons, adding wholesale could help
Experiencing those benefits requires a shift to consistent investment in broad reach, feeling driven net-new demand generation (Brand building)
Thoughts?
Hope this helpsย โ๏ธโค๏ธ๐ค