In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the Passionate Startup & Ecommerce Builder of Viably, Oz Merchant.

One of the most pressing issues Oz discussed was the difficulty e-commerce sellers face when accessing capital. For many of these entrepreneurs, purchasing inventory represents a substantial outlay, and without adequate funding, sustaining and growing their business can be a struggle. 

Viably tackles this challenge head-on by providing banking and funding solutions tailored to e-commerce sellers. Traditional banks often need more physical assets typically required as collateral to serve these businesses. 

Viably, however, uses a different lens, focusing on the seller's performance and future sales trends by harnessing data from e-commerce platforms.

Oz emphasized the critical role of cash flow management and forecasting in the e-commerce sector. Viably doesn't just offer capital; it also provides the tools and guidance necessary for sellers to optimize their cash conversion cycle. This holistic approach ensures that businesses can access the funds they need and use them effectively to fuel growth.

Oz was keen to highlight Viably's commitment to transparency and fairness in an industry where predatory lending practices are a concern. The platform operates on a flat fee model, charging a percentage as a flat fee for short-term working capital.

Key Points from the Episode:

• Challenges e-commerce sellers face in accessing capital
• Unique underwriting needs of e-commerce businesses
• Importance of cash flow management and forecasting
• Trends and opportunities in the e-commerce space
• Viably's focus on banking and funding for e-commerce sellers
• Viably's approach to underwriting e-commerce businesses
• Importance of access to capital for e-commerce sellers
• Viably's tailored funding solutions for different types of e-commerce businesses
• Viably's flat fee model for short-term working capital

About Oz Merchant:

Oz Merchant, with over two decades of professional experience, stands as a dynamic leader and coach in sales, customer success, and e-commerce. Currently holding the position of VP of Customer Success and Support at Viably, he focuses on aiding e-commerce business owners through innovative financial solutions. 

Experiences across various cultures and industries enrich his global perspective, and he is proficient in three languages. Oz is dedicated to fostering growth, innovation, and customer satisfaction, aligning with Viably's goal to bolster entrepreneurs with financial agility and confidence. 

His role involves leading a team to ensure customer retention, satisfaction, and loyalty while driving revenue growth. He employs his sales, management, and customer service expertise to build solid relationships, understand customer objectives, and provide impactful solutions. 

About Viably:

Viably is a comprehensive financial solution tailored for ecommerce business owners, aiming to enhance their cash flow and provide essential capital. This innovative platform integrates banking, funding, and cash flow management tools in a user-friendly app. Viably also fosters strategic partnerships and organizes events to broaden its market reach.

The platform's narrative and business model are actively promoted through podcasts and webinars, appealing to potential customers, partners, and investors. Viably's sales and customer success approach is encapsulated in playbooks following a dynamic "land and expand" model. This strategy achieved impressive growth, securing over 120 new customers and laying the groundwork for a $50M debt facility within seven months.

Viably offers mentorship to ecommerce founders, guiding them in scaling their businesses and preparing for successful market exits. Collaborating closely with Operations and Engineering, Viably focuses on selecting the right technologies to ensure seamless data integration and a product-led journey for its customers, demonstrating its commitment to innovation and customer-centric solutions.

Tweetable Moments:

05:08 - "The biggest expense for every e-commerce seller is the fact they need to buy inventory."

09:03 - "There's a healthy business which is actually making profits, and when we're giving money, we're getting that money back from profits."

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Links Mentioned in this Episode:

Want to learn more? Check out Viably website at

https://www.runviably.com/

Check out Viably on LinkedIn at

https://www.linkedin.com/company/runviably/

Check out Viably on Instagram at

https://www.instagram.com/runviably/

Check out Viably on Facebook at

https://www.facebook.com/runviably

Check out Oz Merchant on LinkedIn at

https://www.linkedin.com/in/ozmerchant/

Check out Oz Merchant on Twitter at

https://twitter.com/ozmerchant

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