Scaling a Seven-Figure E-Commerce Business

The eCommerce Money Map Podcast

[00:01 - 07:00] Opening Segment

• Introducing Ben to the show
• Ben Leonard is the founder of Beast Gear and has successfully exited a 7 figure business
• He is now helping others do the same with his e-commerce consultancy and brokerage
• He had no business experience but used his scientific background to make informed decisions
• He started small, placing a low risk bet of $4000 and scaling up from there
• He used data to inform decisions such as PPC advertising and website conversion rates
• He tested products on himself, friends, and professional athletes to get feedback

[07:01 - 13:10] Navigating the Tough Decision to Exit: How Selling His Brand Gave One Entrepreneur a Safety Net for Life

• Start protecting intellectual property (trademarks, design registrations, patents) right from the start
• Work with an expert to ensure the depth of protection is adequate
• Think like Sonic the Hedgehog - jumping through hoops can lead to big opportunities
• Exiting a successful business can be a difficult decision - consider family needs and potential risks

[13:11 - 19:20] Uncovering the Value of Brand Identity in E-Commerce Businesses: Expert Advice from Ben on How to Maximize Your Exit Strategy

• Made the decision to sell business in late 2019
• Uncovered an entrepreneurial spark and passion for entrepreneurship
• Set up a brokerage firm to help others
• Consider exiting the day you have the idea of your business
• Build a business with an exit in mind from the start
• Work with a professional firm to plan and execute exit strategy
• Number one mistake people make is not having a discernible brand identity
• Having a strong brand identity will increase value of business
• Reach out to ecombrokers.co.uk for more information

[19:21 - 20:09] Closing Segment

• See the links below to connect with Ben

Quotes:

“E-commerce is an environment that is constantly evolving.” - Ben Leonard

“You should consider exiting the day that you have the idea of your business.” - Ben Leonard

Connect with Ben by visiting www.ecombrokers.co.uk.

If you’d like to hear more episodes, you can find them at ecommercemoneymap.com, or on your favorite podcast directory.

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If you want to learn more about the eCommerce Accounting Hub, visit ecommerceaccountinghub.com

Thanks for tuning in, we’ll see you next time!