920: Ascend Ecom: Invest, Build And Scale A Sustainable E-Commerce Asset With Will Basta
About four years ago, a lot of these so-called automation companies started popping up that had a lot of big promises about essentially building you an Amazon business, running it for you, and then splitting the profits, which sounds great on the surface. But what happens if there is a slowdown in getting the product listed? There are inventory risks, you can't control buying trends necessarily all the time. Additionally, you have no control over when Amazon will enter the market, gather that information, invest all of its resources, and then undercut your price, causing your product to stay on the market for a long time. So how can you solve that problem?
Will Basta is the Co-Founder of Ascend Ecom, an ecommerce investment management company that helps build and scale sustainable ecommerce assets worth up to 3-10x your investment in 24-36 months. With a background in tech startups and early experience with Amazon, Will saw an opportunity to improve upon the "automation" ecommerce companies that were popping up. Today, Will talks about his approach to ecommerce investing, focusing on mitigating risks, leveraging scale, and building long-term value for his clients.
Quotes
“Every Amazon business, even if opened by an entity, must have an individual behind it initially. They are essentially pieces of real estate.” - Will Basta
“Diversification is a huge thing. It's how you get through economic hard times.” - Will Basta
“We make moves quickly and take action swiftly, which has a significant impact on the overall return for the business.” - Will Basta
Takeaways
02:58 Reverse-engineering a business model by experiencing it firsthand as a customer can uncover hidden inefficiencies and opportunities for improvement.
07:44 Diversifying investments, whether in ecommerce or real estate, is crucial to mitigating risks and weathering economic challenges.
17:07 Prioritizing integrity and transparency in business operations can build long-term trust and success with clients.
18:41 Acting quickly on opportunities, while maintaining a thoughtful approach, can significantly impact a business's growth and returns.
21:16 Continuously learning and exploring new ideas, even outside one's immediate field, can open up unexpected avenues for personal and professional development.
Resources
Podcast: Play in new window | Download (Duration: 23:59 — 33.2MB) | Embed
Subscribe: Apple Podcasts | Spotify | Amazon Music | iHeartRadio | Podchaser | RSS
Filed in: Archive 4: 2020-2023 • Interview • Podcast
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
