Are partnerships the key to unlocking the real value of your business and taking it to the next level? We are very familiar with the expression “If you want to go fast go alone, if you want to go far go together”, but only a few of us really understand what this means for our business and our team.
In this week’s episode, our guest, Jonathan Greenglass shares his journey getting into Amazon and the reasons why he felt it was time to sell. He provides us with great insights about eCommerce from both the buyer and seller perspectives. He also breaks down the key components you should consider when having initial conversations with potential buyers and how you should prepare your business if you potentially want to exit. Most importantly, Jonathan gives us his outlook on the opportunities for people to enter the eCommerce and Amazon space. Listen and enjoy!
Jonathan Greenglass is the Chief Growth Officer at Coil and is responsible for partnerships, member acquisition, affiliates, and investments. He began his career as an investment banker, advising companies on M&A and capital raising. After advising Imgur on its $40M Series A, he joined the team to help Imgur execute against its vision of lifting the world’s spirits for a few moments every day. His team was responsible for strategy, programmatic revenue, business development, finance, and operations. During his time as CFO, he served as the right hand to the CEO, and was responsible for sourcing, negotiating, and executing Imgur’s $20M series B.
[00:01 – 09:54] How Jonathan Got Into Investment Banking
- Jonathan’s work experience and background
- Getting his first job in a detailing and landscaping business
- His journey with the digital media and the marketing ecosystem
- How he jumped into the Amazon ecosystem
- Moving from selling ads to physical products
- Jonathan’s transition from landscaping to investment banking
[08:37 – 25:49] Entering the Market with Partners Who Had Real Skin in the Game
- Why Jonathan decided to buy an Amazon business
- How Jonathan was able to scale the Flywheel Commerce venture
- Produce a great product and earn the customer’s business again
- Have partnerships is key to being successful
- How to scale and find an edge in an online or digital context
- Tommy shares his insights about the importance of partnerships
- Be all with the same mindset and be the right partners for each other
- The ability to do a Canada deal
- Be all with the same mindset and be the right partners for each other
[25:50 – 38:01] It’s All About Relationships
- The current situation of the eCommerce market
- Have a big team and all the resources to go far and fast
- Have a thoughtful execution
- Have a big team and all the resources to go far and fast
- Jonathan’s outlook on the market for sellers
- What component sellers should consider when finding a buyer
- Build a relationship and a good rapport
- Things sellers should validate before getting into a deal with someone
[31:02 – 40:59] Closing Segment
- Jonathan on the four rapid-fire questions
- Book a strategy session, drop your questions and comments on https://letstalkexits.com
Key Quotes:
“I have an opportunity to build a brand that lives in the heart minds and hands of my customers.” – Jonathan Greenglass
“There’s a lot smarter people in every single area of the business than I am. And if I can bring those people together, there’s almost always going to be a locked value that together we can unlock.” – Jonathan Greenglass
“I’m less concerned with what’s Johnson GreenGlass his slice of the pie and more concerned with how can we build a really big pie together, ” – Jonathan Greenglass
Connect with Jonathan
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