Pat Yates is a seasoned entrepreneur with a focus on e-commerce. In 2014 he struck a deal with Robert Herjavec on the Emmy Award winning show “Shark Tank”. Pat grew a single slipper kiosk business into a multimillion-dollar e-commerce focused business. During that time Pat has done licensing deals with DreamWorks, NCAA, NFL and Disney. In 2015 he struck up a relationship with Mark the founder of Quiet Light and continued eventually leading him to becoming an M&A advisor. He speaks on stages around the world and is an expert in the Ecom space.
> Here’s a glimpse of what you would learn….
- Impact of "Shark Tank" on brand visibility and entrepreneur experiences.
- Importance of networking and community among entrepreneurs.
- Process and considerations for getting featured on "Shark Tank."
- Current challenges in the e-commerce market, including inflation and interest rates.
- Strategies for improving business performance before selling.
- Understanding business valuations and the significance of EBITDA multiples.
- Importance of preparation and accurate financial records for business sales.
- Actionable strategies for enhancing business value and growth.
- Role of technology and data analysis in e-commerce decision-making.
- Value of attending industry events for networking and learning opportunities.
In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley welcomes back Pat Yates, a seasoned entrepreneur and M&A advisor at Quiet Light Brokerage. Known for his successful "Shark Tank" deal with Robert Herjavec, Pat shares insights on leveraging the show's exposure, the importance of networking, and the current e-commerce landscape. He emphasizes the need for thorough preparation before selling a business, understanding financials, and maintaining realistic expectations. Pat also highlights the value of data-driven decision-making and the potential of AI tools to enhance business operations. This episode is a must-listen for entrepreneurs aiming to scale their businesses to new heights.
Here are the 3 action items that Josh identified from this episode:
Action Item #1 Consider "Shark Tank": Entrepreneurs with products that appeal to a broad audience should consider applying to "Shark Tank."
Action Item #2 Maintain Accurate Financial Records: Running both accrual and cash basis books is crucial for understanding the business's financial position and preparing for potential exits.
Action Item #3 Focus on Growth: Entrepreneurs should prioritize growth, especially if they are considering an exit.
Resources mentioned in this episode:
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