Every week we will take a deep dive into a business and share with you some of their marketing & business strategies that helped these businesses scale. However, this week we are doing something different!
In Episode 10, we discuss multiple ways on how you can raise money for your eCommerce business. Matthew Skopak will be sharing his expertise on this topic since he’s been well-versed & experienced on this topic. I’ll just be asking the questions ;).
Timestamps:
1:56 – Types of Ways To Get Funding For Your eCommerce Business
2:28 – Recommend Bootstrapping Before Anything Else (at least initially) 3:31 – Friends & Family.
5:56 – How Do Come Up With a Final Agreement & What Do You Put in it? 7:00 – Angel Investors
7:49 – How Do You Find Angel Investors?
10:56 – Crowd Funding
14:00 – Venture Capitalist
14:58 – When Should You Approach a VC?
15:58 – SBA Loans – Why It’s A Great Option During Our Current Environment
17:28 – Breakdown on Real-Life Examples
23:00 – Investors Will Ask: How Will I Get My Money Back & When? When you invest in something you need something like a liquidity event.
24:20 – Should/Can You Still Raise Money w/o generating sales?
25:52 – Example with Beauty/Skincare brands
ABOUT MATT SKOPAK:
An adventure and fitness addict with a passion for entrepreneurship and numbers. Lead Investor in Sweetberry Bowls and CFO of Sugar & Kush CBD. Rutgers MBA 2020 in Entrepreneurship & Accounting
ABOUT SEAN AZARI:
In 2015, Sean launched a creative ad agency called Breakthrough Social specializing in content creation & distribution, marketing campaigns, & paid media that helped brands build awareness and drive sales. Prior to starting his agency, Sean worked in finance for 4 years as an Investment Banking Analyst at Credit Suisse & studied Mathematics & Statistics at Rutgers University.
Connect with Sean:
