Dan & Ian talk to a listener who’s running a $1M D2C e-commerce business about the challenges and opportunities he faces as he plans for future growth and a potential exit down the road.
They discuss topics like decreasing customer acquisition costs, increasing profit margins, the absolutely essential role of a CFO, and not letting your passion for the product get in the way of your growth.
At the end of the call, Dan & Ian will recommend key next steps this founder should take in order to scale their business effectively and aggressively.
TMBA email subscribers can submit their business to be reviewed with Dan & Ian on the pod.
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Check out the fluora plant we discuss on today’s show.
Connect with us:
Dan: @TropicalMBA or dan@tropicalmba.com
Ian: @AnythingIan or ian@tropicalmba.com
Chapters:
- (00:00:27) Introduction and Business Overview
- (00:02:18) Transitioning to D2C E-commerce
- (00:05:59) Scaling and Future Plans
- (00:13:11) Becoming a Software Company
- (00:14:17) Challenges and Future Growth
- (00:18:06) The Role of a CFO in Financial Management
- (00:28:28) Developing an Expensive Product for Customers
- (00:32:48) Improving Profit Margins and Considering Tax Implications
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Past guests on TMBA include Cal Newport, David Heinemeier Hannson, Seth Godin, Ricardo Semler, Noah Kagan, Rob Walling, Jay Clouse, Einar Vollset, Sam Dogan, Gino Wickam, James Clear, Jodie Cook, Mark Webster, Steph Smith, Taylor Pearson, Tommy Griffith, Justin Tan, Matt Gartland, Travis Jamison, Ayman Al-Abdullah, Tynan, Lucy Bella Simkins, Brian Balfour, Nick Huber, Mike Michalowicz, Greg Crabtree, Jordan Gal
Additional episodes you might enjoy:
“3 Million in Revenue is a Death Zone” – Financial Strategy with Greg Crabtree
http://www.tropicalmba.com/episodes/scared-to-raise-price
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