What knowledge and tools do you need to navigate the dynamic landscape of eCommerce and ensure the success of your business? Today, our guest Matt Putra shares valuable insights on how to make your eCommerce business successful. He touches on the importance of payment terms in financing an eCommerce business and why it should be the first thing to consider. He breaks down the risks of relying too heavily on financing as a growth tool and how businesses can use it strategically. Matt stresses how to be cautious with fixed expenses and overheads and focus on doing more with less to maximize gross margin and fuel business growth. By following Matt's advice and guidance, you can gain the knowledge and tools needed to capitalize on your eCommerce businesses!
What knowledge and tools do you need to navigate the dynamic landscape of eCommerce and ensure the success of your business?
Today, our guest Matt Putra shares valuable insights on how to make your eCommerce business successful. He touches on the importance of payment terms in financing an eCommerce business and why it should be the first thing to consider. He breaks down the risks of relying too heavily on financing as a growth tool and how businesses can use it strategically. Matt stresses how to be cautious with fixed expenses and overheads and focus on doing more with less to maximize gross margin and fuel business growth.
By following Matt's advice and guidance, you can gain the knowledge and tools needed to capitalize on your eCommerce businesses!
[00:00 - 07:00] Five Things to Consider When Financing an E-Commerce Business
[07:01 - 13:19] The Key to Unlocking Opportunities and Knowing Your Business
[13:20 - 19:35] Get Your Financial Foundation in Place Right Out of the Gate
[19:36 - 24:06] Capitalize Your Products Without Having to Create Equity
[24:07 - 25:13] Wrapping Up!
Connect with Matt on LinkedIn. Visit EightX to scale your business with more cash and less stress!
Key Quotes:
“You as a business owner need to review your books and see where things are at on a monthly basis so that you can make decisions.” - Matt Putra
“Do more with less and force yourself to do more with less, even when you're making good money.” - Matt Putra
“Profit is not always equivalent to cash flow, but generally speaking, if you are consistently profitable, cash flow should be there.” - Matt Putra
Let’s get connected!
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