In this episode, I'm talking with Eric Youngstrom. This episode is about some of the different ways to fund a business, specifically leveraging working capital to grow e-commerce businesses.
Eric is the Founder and CEO of a company called Onramp Funds out of Austin, Texas. Onramp Funds is an innovative financing platform that's purpose-built for eCommerce entrepreneurs.
When you think about elevating your business, making your business more mature, more sustainable, maybe you think of one of the biggest problems that a lot of small businesses face, which is getting their finances under control. Maybe you've been in a position where you didn't know where your next payroll was going to come from, where you didn't know how to finance the growth strategies that you dreamed up on the whiteboard. In this conversation, we talk about some of those issues and ideas, and how to make sure that the finances in your business are solid, which is something that I know is on a lot of our minds recently.
- Eric's background in working with startups. (2:53)
- The problem Onramp Funds solves. (4:33)
- The challenges of funding a product business. (8:43)
- The financial basics you need to understand. (13:41)
- Working capital for e-commerce businesses. (15:52)
- Partner capital vs. working capital. (22:12)
- Top small business financial tips.(25:24)