Scaling a Seven-Figure E-Commerce Business
Manage episode 353896723 series 2943417
[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.
Don’t forget to like, subscribe, and leave us a review!
If you want to learn more about the eCommerce Accounting Hub, visit ecommerceaccountinghub.com
Thanks for tuning in, we’ll see you next time!
46 episodes