Thank you so much Spencer for the advices ! I have started a ecommerce brand but failed to maintain cashflow so the the business failed. But I will never give up. You are an inspiration for me. Thank you so much for making videos.
Revenue is good but profits are KING! Be sure to watch my video on profit margins, SO important. In a situation where you are not profitable, raising money often doesn’t solve the problem, it just slows the inevitable and compounds the pain. Be profitable or stop and reset. 👊
All I know is that you sold to the right firm. Getting "DTC" as the ticker symbol when you went public was one of my favorite moves of any eCommerce business ever. Congrats on the exit! What do you make of the brand acquiring Chubby's and a few other brands? You're basically becoming an aggregator like us ;)
Thanks for the kind words! After exiting a second round to a larger PE firm (that's another video) I'm now a passive investor in DTC... so I won't comment on the strategy but I do have my fingers crossed and hope they do great. They have a very capable team running the show so I'm confident they'll do amazing things. Excited to watch your story unfold as well!
I’m really enjoying your videos, we are in a similar position to where you were in 2016, it would be super interesting to hear about how you grew the business between 2016 and 2019 to achieve the big exit
Thanks Luke for the encouragement! I’ll definitely follow up with a part two and dive deeper into what we did to build and grow between 2016 and 2019, great idea! I’d love to hear about your business too. Feel free to shout it out here!
Congrats Spencer, wow! I remember your days back at Global Sources, looks like your company at the end was pretty much the same size! I'm an ecom entrepreneur as well now, would love to catch up sometime.
@@SpencerJan 1. How to comeuppance with new product ideas I want to make $100million with ecommerce that is my goal bro 🥰 2. How much does it cost to manufacture a productbfrom prototyping to manufacture (approximately)
Thanks for this excellent advice. Getting into the position where your business "does not need you" is a tall order indeed. Yet, it all makes sense. Your honestly about "failing" to sell at as you and your partner desired at first is humbling - and a bit scary all at the same time. You have us thinking - that's for sure. Good job and thank you for the guidance.
Thank you so much Spencer for the advices ! I have started a ecommerce brand but failed to maintain cashflow so the the business failed. But I will never give up. You are an inspiration for me. Thank you so much for making videos.
Keep going! I too failed a lot over the years. Don’t give up!
@@SpencerJan got to 80k revenue a month but could not keep it profitable. Maybe you could do a video on finance and raising money?
Revenue is good but profits are KING! Be sure to watch my video on profit margins, SO important. In a situation where you are not profitable, raising money often doesn’t solve the problem, it just slows the inevitable and compounds the pain. Be profitable or stop and reset. 👊
Hi Spencer, this videos is awesome 👌 I have a question if you don't mind, how old are you?
Thanks for watching! I'll awkwardly avoid answering your question about age 😜
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@@SpencerJan so informative! “Build it so I can become irrelevant”. I love reading the 4 Hour Work Week.
thanks for sharing! looking to sell my ecom biz as well
Great Video, Jan! :) Thank you for sharing your journey so clearly and for inspiring me! :)
You are so welcome!
@@SpencerJan, sorry for messing up your Last Name for your First Bame. 😬
I think this is the 3rd time I’ve watched this video. It’s great motivation.
Glad to hear it's motivating!!
All I know is that you sold to the right firm. Getting "DTC" as the ticker symbol when you went public was one of my favorite moves of any eCommerce business ever. Congrats on the exit! What do you make of the brand acquiring Chubby's and a few other brands? You're basically becoming an aggregator like us ;)
Thanks for the kind words! After exiting a second round to a larger PE firm (that's another video) I'm now a passive investor in DTC... so I won't comment on the strategy but I do have my fingers crossed and hope they do great. They have a very capable team running the show so I'm confident they'll do amazing things. Excited to watch your story unfold as well!
I’m really enjoying your videos, we are in a similar position to where you were in 2016, it would be super interesting to hear about how you grew the business between 2016 and 2019 to achieve the big exit
Thanks Luke for the encouragement! I’ll definitely follow up with a part two and dive deeper into what we did to build and grow between 2016 and 2019, great idea! I’d love to hear about your business too. Feel free to shout it out here!
Awesome information! Thanks Spencer!
Thanks Andy for watching
Amazing story, congratulations! What type of profit do you need to be making to get a 9 figure exit? Would you be able to discuss the multiple?
Thanks! Watch this video to learn my take on profit margin th-cam.com/video/8fVQFFb5XJI/w-d-xo.html👊
Congrats Spencer, wow! I remember your days back at Global Sources, looks like your company at the end was pretty much the same size! I'm an ecom entrepreneur as well now, would love to catch up sometime.
CAMERON! Holy smokes! Hit me up on LinkedIn. I’d love to hear your GSOL stories!
Hey bro how can i connect with you?
Leave any comment and I'll reply
@@SpencerJan 1. How to comeuppance with new product ideas I want to make $100million with ecommerce that is my goal bro 🥰 2. How much does it cost to manufacture a productbfrom prototyping to manufacture (approximately)
Thanks for this excellent advice. Getting into the position where your business "does not need you" is a tall order indeed. Yet, it all makes sense. Your honestly about "failing" to sell at as you and your partner desired at first is humbling - and a bit scary all at the same time. You have us thinking - that's for sure. Good job and thank you for the guidance.
Thanks for watching. So glad you found it helpful!
Super helpful! Thanks @ Spencer.
So glad it was helpful. Thanks for the encouragement!
Some great advice.
Thanks Chris!