Are you ready to change the way you scale and grow your eCommerce business?
In this episode, Erik Davidek touches on the importance of building a proper brand and the different brands he saw while being at Heyday. He breaks down what stood out as a great brand from the others and why it is crucial to support brands with cash flow opportunities to help them grow, buy inventory, and expand new products in different marketplaces. Listen and enjoy!
Erik heads aggregator partnerships for SellersFunding, an eCommerce lending platform. His role focuses on creating non-dilutive working capital solutions and referral and marketing partnerships. Before joining SellersFunding, Erik was the 16th employee at Heyday, a top-5 funded aggregator. He sourced M&A opportunities and worked directly with hundreds of entrepreneurs to prepare their brands for acquisition. Prior to this, Erik’s career followed non-traditional paths. He was an Editor at the world’s largest automotive magazine, taught high school social studies, was a marketing consultant in Europe, and spent a decade leading sales teams for manufacturing, commodities, and SaaS companies. Erik works remotely from beautiful Northern Michigan.
Key Highlights:
[00:01 – 08:05] The Importance of Building a Proper Brand
•The key to building a successful Amazon or e-commerce brand
- Focus on creating a strong brand and developing unique products that appeal to consumers
• Why building a proper brand is crucial, and how it can be key to achieving an optimal exit
• The importance of having access to funding to help businesses grow and expand
[08:06 – 23:42] The e-Commerce Space
• How to survive the next round of eCommerce growth
• Erik’s key drivers for businesses in the e-commerce space
- Focus on finance, cost control, and operational excellence
• Why the money coming is no longer sustainable and has caused many aggregators to pull back or go out of business
• Specialization and building a real brand are becoming more important in the Amazon eCommerce aggregated space
- The aggregated space is growing, with more operators and smaller buyers entering the market
[23:43- 46:16] How to Focus on Brand Performance
• How sellers can get insights into their businesses through seller signals
- Get an outlook on what’s working and what’s not in the market, and how to improve their business.
• Erik introduces Seller Funding and what it does
- It offers several solutions to help sellers grow their businesses
- Revenue advances, daily advances, digital wallets, and aggregator pausing
• The market is slowing down, but there are still opportunities for sellers to make money
[46:17 – 48:51] Wrapping Up!
• Erik on the four rapid questions
Key Quotes:
“Don’t think you have to have every product ready to go, but what’s that next little step that I can take that gives me a little more security, a little more defense ability around what I’m doing.” – Erik Davidek
“Niches build bridges.” -Erik Davidek
Connect with Erik
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