Matt Warren founder of our series sponsors Veeqo – but don’t worry this isn’t a pitch episode – nope. Rather we’re going to dive into what led Matt to create Veeqo in the first place – As before Veeqo Matt was a serial eCommerce business owner and it was His own experiences running eCommerce businesses that led him to create Veeqo.
First came Blitz Enterprises – a five year project which Matt grew from nothing to over £6m per year. Next was Jura Watches, a 7 year project creating the UK’s first official luxury watch retailer.
This is the sixth of our ‘2017 eCommerce Growth Series Sponsored by Veeqo the Number 1 Inventory Software’. The series will be running throughout January and is packed with insight and advice to help you make 2017 your best year yet. Find the full series here.
Starting in eCommerce
Matt was a software engineer at an IT company when he noticed a lack of watch retailers online. He made a business selling luxury watches online, first by putting product up with no stock, then gradually building up and buying stock to offer next-day delivery.
Listen to learn how quick delivery influences customer confidence and customer service.
After legal troubles forced him to close the business, Matt began a partnership with luxury brands by opening a clicks and bricks store called Jura. Online watch sales were phenomenal, encouraging investors to keep supporting Jura until it broke even.
Listen to hear how the name of a business can help build the business’s platform.
Matt decided to sell Jura and move back towards tech. Even with a buyer up front, it took nine months to sell the business. Matt suggests a very detailed heads of terms to avoid having to pay for lawyers negotiating minor points.
Listen to learn more about selling a business.
After twelve years in eCommerce, Matt was frustrated at the time taken up by inventory counts, stock counts, and other things that took time away from selling to customers. He created Veeqo, a SAAS ecommerce business, which is now number one in inventory software.
Most Awesome Thing Right Now
Dealing with lots of eCommerce companies and learning about the new things they are doing, fast expansion, addition of more options and more channels, the possibility of opening up an office in the US, and building up features.
eCommerce Book Top Tip
- Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance
eCommerce Traffic Top Tip
- Instagram and other image social networks
You can hear about all this on the podcast, for free – right now…
Tool Top Tip
Start Up Top Tip(s)
- Research, research, research
- Research your competitors
- Go super niche
- Build a strong team