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 ;).
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: