Guest: Stephen Speer
Here's a summary of the great stuff that we cover in this show:
- If you have an eCommerce business, you should definitely think of growth by acquisition. When you buy a business, it’s already been brought to a certain level and with the right business acumen you can really catapult the business and continue to grow. And if you're able to grow a portfolio of similar businesses, running them the same way, ultimately it can be a great way to grow and succeed.
- Usually, sticking to your lane and buying businesses you’re familiar with and running it roughly the same way is a great way to ensure success. Through leverage financing, smaller businesses can even acquire larger ones, as long as the buyer has the right business acumen.
- As much as acquiring an eCommerce business is a great idea, it is not really a straightforward process because there are a lot of moving pieces. At Ecommerce Lending, Stephen and his team help build a team around their clients to ensure they do have post acquisition success. They’re not just a lender, but offer a lot of ancillary services to help their clients succeed post acquisition.