E366: Mike's Exciting New Business

I'm back in the trenches! We sold one of our ecommerce brands back in 2019, and I've been itching to get involved in something again for quite some time.  Today, I'm excited to share with you my recent experience in buying a new ecommerce company. Joining me for this episode are my good friends and business partners, Andrew Youderian and Bill D'Alessandro, whose insights are valuable to ecommerce newbies and experienced business owners alike. Andrew is the Managing Partner of ECF Capital, which is tailored to helping small e-commerce businesses grow. He also hosts the awesome eCommerce Fuel Podcast. Bill is the Founder and CEO of Elements Brands, which invests in brands with long-term potential and currently boasts a rich portfolio of consumer products companies.  In this episode, we dive into how this opportunity came about and all the hurdles we overcame to finally seal the deal. We also share a bunch of funny stories that you'll surely get a kick out of. Timestamps How the opportunity came about - 6:56 Why this particular business appealed to us - 9:50 How we structured the deal - 12:56 Why having an existing rapport with the seller helps more than you know - 19:30 A fateful Christmas eve call - 20:11 Why you should always leave some buffer in your closing dates - 27:59 Some key things I did before and after closing - 30:15 A heart-stopping Amazon account suspension - 35:37 I'm thrilled to be in business with Andrew and Bill, and I'd be happy to share more updates about this business with you guys in a year's time. If you're looking to grow your ecommerce business and get some long-term funding from experts in the industry, check out ECF Capital. Did you enjoy this episode? Don't forget to help us out by leaving a review over on iTunes. Until the next one, happy selling!