- Joined
- Dec 5, 2020
- Messages
- 314
Rep Bank
$3,075
$3,075
User Power: 431%
Together with a partner I founded an ecommerce business around 2 years ago. It has grown quite rapidly.
- We do around €1.5m ($1.7m) in revenue.
- Current MRR = €55k/m.
- 72% of revenue = repeat orders.
AKA: our customers really love the brand and products we sell.
I own 25% and I’m not operational in the business. This was the deal I made with my founding partner: ‘I invest in the stock and help with setting up, you then run the business’.
So I sort of have a free advisor role, however the business pays me the same salary as the other two shareholders: 65% and 10%.
I started the business together with the 65% shareholder. We then gave equity to the 10% shareholder that joined later. The 10% shareholder has been running the business alone for the past year or so because the 65% shareholder was on maternity leave.
Now the hard stuff..
There is incredible potential in the brand, but I don’t want to commit a lot of my time to it because I want to focus on other things.
The 65% shareholder however is doing zero real work and is completely content with where we are right now. Her output has been low from the moment the business started generating sufficient cash to pay out an ok salary. Let’s just say she’s not in this to get rich. Due to her being the founding ‘face’ of the business she still feels like she’s the most important person in the team.
The other 10% shareholder on the other hand is a hard worker but lacks business savviness. I do want to give her kudo’s because she basically runs the entire business and is a solid operator in my opinion.
So what is the problem here?
I think the business lacks a CEO.
The 65% shareholder should take (back) this role imo, but she’s busy calling her friends all day. The 10% shareholder is more fit for operations, and I don’t want to do it because I only own 25% of the business and have other ventures I want to focus on.
So we essentially have a business that can scale incredibly hard but there is no one to do it.
Recently one of the most famous influencers in the Netherlands reached out to us and said that she would like to buy stock in the company.
Now I don’t know what to do. I don’t want to sell my stock because I’m 100% sure the business will blow up if she’s on board. My other partners also don’t want me out, and I also have full trust in that the business will continue to grow steadily without the influencer anyway. So selling is no option.
All in all it’s a terrific future exit opportunity due to the recurring nature of the product. And that’s why I don’t want out! There’s just no one to realize the potential of the business.
This results in stupid shit like not properly tracking conversions (broken pixel), bad ad creatives, low effort email campaigns etc. stuff that an experienced ecom operator could easily spot, fix, or delegate.
I am aware of all these problems but I just don’t have the time, will and/or proper knowledge to fix it.
The business has so much potential and it bothers me.
What can I do?
- We do around €1.5m ($1.7m) in revenue.
- Current MRR = €55k/m.
- 72% of revenue = repeat orders.
AKA: our customers really love the brand and products we sell.
I own 25% and I’m not operational in the business. This was the deal I made with my founding partner: ‘I invest in the stock and help with setting up, you then run the business’.
So I sort of have a free advisor role, however the business pays me the same salary as the other two shareholders: 65% and 10%.
I started the business together with the 65% shareholder. We then gave equity to the 10% shareholder that joined later. The 10% shareholder has been running the business alone for the past year or so because the 65% shareholder was on maternity leave.
Now the hard stuff..
There is incredible potential in the brand, but I don’t want to commit a lot of my time to it because I want to focus on other things.
The 65% shareholder however is doing zero real work and is completely content with where we are right now. Her output has been low from the moment the business started generating sufficient cash to pay out an ok salary. Let’s just say she’s not in this to get rich. Due to her being the founding ‘face’ of the business she still feels like she’s the most important person in the team.
The other 10% shareholder on the other hand is a hard worker but lacks business savviness. I do want to give her kudo’s because she basically runs the entire business and is a solid operator in my opinion.
So what is the problem here?
I think the business lacks a CEO.
The 65% shareholder should take (back) this role imo, but she’s busy calling her friends all day. The 10% shareholder is more fit for operations, and I don’t want to do it because I only own 25% of the business and have other ventures I want to focus on.
So we essentially have a business that can scale incredibly hard but there is no one to do it.
Recently one of the most famous influencers in the Netherlands reached out to us and said that she would like to buy stock in the company.
Now I don’t know what to do. I don’t want to sell my stock because I’m 100% sure the business will blow up if she’s on board. My other partners also don’t want me out, and I also have full trust in that the business will continue to grow steadily without the influencer anyway. So selling is no option.
All in all it’s a terrific future exit opportunity due to the recurring nature of the product. And that’s why I don’t want out! There’s just no one to realize the potential of the business.
This results in stupid shit like not properly tracking conversions (broken pixel), bad ad creatives, low effort email campaigns etc. stuff that an experienced ecom operator could easily spot, fix, or delegate.
I am aware of all these problems but I just don’t have the time, will and/or proper knowledge to fix it.
The business has so much potential and it bothers me.
What can I do?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
