"Project Anaconda" - From Startup to Scaleup and Almost Going Bankrupt
In this episode…
Do you have a winning team for your e-commerce brand? Do you have the right exit strategy for your business?
In this episode of the Relationship Commerce Podcast, Dr. Jeremy Weisz talks to Martin Zahuranec, the Co-Founder and CEO of eyerim, about his strategies for scaling a premium product in Europe. They also talk about Martin's career background in Vietnam and Vienna, finding the right business partner for your company, and managing inventory for your growing brand.
Martin Zahuranec is the Co-Founder and CEO of eyerim, a premium eyewear company operating in 12 countries across Europe featuring a range of products from sunglasses to prescription frames and snow goggles. The company sells designer pieces, mainstream classics, and cutting-edge sports collections. With the success of eyerim, Martin has become one of the fastest growing e-commerce players in Central and Eastern Europe.
How to Position Yourself for a Potential Exit or Acquisition
If you started your e-commerce business with the intention to grow and later exit the company, then you need to have the right strategies in place for a potential exit.
You do this by advertising and marketing your products and brand well enough to expand your reach. You also have to focus on capturing your target market, staying fearless, and expanding your brand geographically and financially; establish yourself as a fast mover early on and optimize your brand later. This is the strategy commonly used in the Asian markets to grow a new brand.
Applying all these strategies would help prepare and position your brand for a potential exit or acquisition by a larger brand.
The Benefits of Having a Winning Team for Your e-Commerce Brand
When looking for capital for your e-commerce brand or seeking funding from a business investor, you need to prepare your business well in advance. You need to get your records in order so you can ensure that you are well-connected with the operations of your business.
You also need to have the right team in place. The people you have on board can play a big role in your business: your employee roster and your career background can help you land the deal you need. You should also share your story with your potential investors so that they can know where your business came from and where it is heading.
How to Manage Inventory for a Growing e-Commerce Brand
As your new e-commerce brand starts to get traction and grow, you need to manage your inventory well. First things first, look at your performance reports to see which products are best sellers and make sure that they are always available to avoid stock outs.
To manage your inventory, use an inventory management software, Google Sheets, or an Excel spreadsheet. Pro tip: it’s incredibly effective to use filters when researching which products perform better than others and which need to be marketed differently or improved upon to increase sales.
Resources Mentioned in this episode
- Martin Zahuranec on LinkedIn
- Rocket Internet
- Reid Hoffman on LinkedIn
- “How to be a Creative e-Commerce Leader” with Paul Barmes and Andrew Skirde
- “How to Successfully Start and Grow a Premier Clothing Business” with Sacha Prost
- Dr. Jeremy Weisz on LinkedIn
Sponsor for this episode...
This episode is sponsored by Worth eCommerce.
Worth eCommerce is a small mighty team of eCommerce email marketers who help businesses of all sizes dramatically grow revenue with lifecycle email marketing. It is made up of copywriters, designers, strategizers, and marketing extraordinaires who specialize in nurturing relationships and guiding sales through the sheer power of email.
Worth eCommerce's sole focus is creating a lasting relationship between eCommerce sellers and their customers through the most personable form of digital connection: email. Businesses that send personable, interesting, and helpful emails earn the trust and continued business from that same customer.
Worth eCommerce’s mission is to help small medium sized e-commerce businesses generate more than a million dollars a year each in revenue using their own marketing channels.
To learn more about Worth eCommerce, visit https://worthecommerce.com/pages/home.
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For the ultimate ecommerce marketing platform for eCommerce email and SMS messaging, make sure to check out Klaviyo.
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