E280: Inventory Funding Solutions with Sean & David of Kickfurther
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.
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If you have any questions or comments, feel free to leave them below. Happy selling!