E280: Inventory Funding Solutions with Sean & David of KickfurtherSeptember in Ecom-Crew-Podcast
It’s a new month and change is coming to the EcomCrew Podcast.
If you haven’t listened to last Thursday’s goals update, I talked about us reducing the number of episodes in a week from two to one. We want to provide you with the best possible content and, in order to do that, it was a decision to go for quality over quantity.
Today’s episode is something that I believe fits the bill. As entrepreneurs, we tend to fall prey to our own success. The struggle to keep up with growth often means that our cash flow takes a beating. Affording inventory can become a real problem.
This is why I’m excited to have Kickfurther CEO Sean de Clerq and VP of Business Development David Koifman on the show.
Kickfurther is a platform that brings together businesses with inventory funding needs and individuals looking to grow their money on ecommerce. The platform helps cash-strapped businesses grow by raising funds from individual buyers to pay for the business’ next order. When the business sells the inventory successfully, the individual buyers get paid and earn a profit.
In this episode, you’ll learn:
- How a Kickstarter campaign and Sean’s financing problem gave birth to the idea of Kickfurther – 2:34
- How Kickfurther deals first came together – 8:23
- How Sean found early backers who trusted their brand-new platform – 10:35
- Criteria for a business to be on the platform – 19:08
- Step-by-step process for a business to get funding – 23:53
- Timeline for a business to get funding – 28:13
- Kickfurther’s finance charges – 29:59
- What returns have been historically for investors – 36:22
- Risk factors – 44:38
- Consignment setup – 48:44
- Special Kickfurther deal for EcomCrew listeners – 53:43
If you want to try out Kickfurther for yourself, head over to ecomcrew.com/kickfurther.
Learn how to develop defensible and winning products you can build your business around. Sign up for this month’s free webinar.
If you have any questions or comments, feel free to leave them below. Happy selling!
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.