Month: March 2021

Elevate Brands featured in Retail TouchPoints on investors buying Amazon third party sellers

The vast majority of Amazon third-party sellers are small operations, oftentimes just one or two people, and for many of them selling on Amazon is just a side business.

Ryan Gnesin first became interested in the Amazon marketplace model in 2016, when he tired of the constant travel that his job as a commodities trader demanded. He was looking to make a change, so he attended an Amazon sellers conference.

“What I found really interesting was there were all these sellers who were running what was essentially a side hustle, but the side hustles were real businesses,” he said in an interview with Retail TouchPoints.

Read the full article: Why Investors are Racing to Buy Up Amazon’s Hottest Third-Party Sellers

Five questions to determine if you’re an EY Entrepreneur Of The Year | eNews from OWC

Awards are a vital component in the success of a company’s overall communications plan, and EY’s Entrepreneur of the Year® is among the most prestigious, which is why OWC has been a proud sponsor of the program for the past 13 years.

EY’s EOY program is one of the few business awards programs that is a true competition, which makes it even more interesting for entrepreneurs. If any word describes entrepreneurs, it would be competitive. The 2021 deadline for submissions is coming up. Award nominations are due by midnight on April 16, 2021.

In addition to being judged by peers, business leaders and past winners, nominees will make their case for why they should be considered to be named Entrepreneur Of The Year. Going through this discovery process is preparation for other industry awards throughout the year and perhaps be interesting to media looking for a good story. Insight can be repurposed, such as:

  • How did your business get its start? What were the challenges in launching and building the company, including the personal and financial risk involved?
  • Describe the role of the entrepreneur. How is it different from running an established company, and what traits of leadership are required?
  • What are the elements of a business plan capable of a successful launch and continued growth, and what are the lessons learned?
  • Describe your vision for the future of the business, the likely obstacles, and how to overcome them.
  • What is the company’s culture and reputation and how do you manage both?
  • Explain your crisis plan. When a business emergency arises, what are the protocols to deal with it, and how are they to be communicated to staff, the press, and the public?

Entrepreneurs are doers, focused on business growth, building and maintaining a workforce and creating a culture to keep the flywheel moving. You know the answers to these questions, but may need help in articulating them and telling your brand story. Now is the time to share them.

Winning isn’t everything. In fact, joining the ranks of EY’s nominees automatically raises awareness among media and the Los Angeles business community. Nominees who don’t win on their first try often successfully persist in winning the next year, knowing that the act of entering into this high-profile group of other successful companies raises their profile in the community. The simple act of periodically examining our own performance, recognizing achievements and identifying challenges to overcome is often cited as critical to the success of every business.

OWC encourages every business to self-nominate, or to put forward a client or business leader worthy of recognition. Not in Los Angeles? There are programs in 145 cities and 60 countries around the world. Find their programs here. Submit a nomination before April 16, 2021.

Stumped on the application and the best way to tell your story? We’re here to help.

Best,

Tracy

Attitude Adjustment, One Year Later | eNews from OWC

The work world changed profoundly in the past year. We asked OWC staff how they feel about that. Even they were surprised by their answers.

Phyllis: “The transition has been a unique strangeness of work and home blending together. It is almost like the boundary that always existed between being home and being at work has been blurred beyond recognition. Our ability to continue as a team has been okay, but certainly not what I prefer– which is seeing and working with everyone in person. The most impactful change is staying in so much at home. Sounds like a vacation, but it’s more like isolation, not seeing coworkers and only seeing your own loved ones except via a video conference call. But Zoom is here to stay, and I predict that we’ll enter a sort of hybrid, where we’re back in the office together, but it’s no longer a strict 9-5 weekday.”

Wes: “In PR, one of the most challenging things about COVID is working with media as they are taking on more work, so we have had to be creative and stay persistent to get results for our clients. Managing employees, deadlines and morale for the office remotely is also difficult and takes a lot more intentionality and effort. We’re more purposeful in building relationships now that we have to be connected in new ways. It means more communication, not less. There’s definitely a hunger for real-life human interactions and eventually, I imagine we will move to a hybrid approach offering people the best of both worlds.”

Paulo:  “Last March, it became clear that our careers and our lives as we knew them were about to be severelydisrupted, but I firmly believe we’ve grown stronger as a team. Because of remote work, we’ve all had to go the extra mile, whether via email or phone, to maintain the dynamics and the camaraderie that’s so important to our firm. We know that our clients have also been put to the test, and actually, that gives us a new way to help. While I believe we might achieve some sense of normalcy toward the end of the year, remote work is going to become an integral part of any industry now that we’ve had a year to find out how well it can work.”

Sam: “At first, it was a struggle to know when to start and end the day, and I found myself working from the moment I woke up until hours after the workday ended. Setting boundaries and giving myself goals helped, and I now believe I’m more productive. It’s just easier to get online, stay focused and plan my day out without panicking. For me, it strengthens the team to have a video conference call every morning or any time we need a group brainstorm, and we just find a time that works for everyone. Ultimately, I think the need for a main office will slowly become a thing of the past as businesses realize employees are getting as much if not more work done working from home.”

Tracy: “Before 2020, I wouldn’t have imagined we could be so productive outside of the office. We’ve built in a daily team Zoom call, weekly check-ins, scheduled creative sessions and new lunch-and-learns, so we’re communicating constantly. But while I love being able to video conference, I miss the sidebars and meet-and- greets in the halls and elevators for the informal laughs and camaraderie. I relish the day we can have lunch together and have clients back to our beautiful office. I’m now convinced that we’ve changed forever the way we work, hire and collaborate.”

OWC’s quiet 12th-floor suite in Westwood is still there, of course. I go in once or twice a week and often see one of our team there—looking guilty, almost. Maybe they like to work the phone in the car, as I do, and maybe they also find the commute a chance to collect their thoughts, or on the way home unwind a little and turn up their personal taste in a podcast or some rock and roll. Can’t do that at home, where musical taste has to be shared.

Any company considering dispensing with rent might be surprised at the staff reaction. A place of work at home, it turns out, isn’t quite the same as a workplace.

See you at lunch soon.

Best,

Tracy

 

 

 

Elevate Brands was featured in Crunchbase News on its new fundraising deal

Amazon marketplace sellers are now seeing value in selling their business to larger companies. Often called rollup companies or aggregators, such companies purchase thriving private labels and direct-to-consumer e-commerce brands that sell on marketplaces such as Amazon and Shopify, and then use their expertise and capital to take the brand to the next level.

Since the beginning of the year, at least six marketplace aggregators, including Elevate Brands, announced new fundraising deals. Elevate Brands, which uses a data-driven approach to acquire and operate Amazon third-party businesses, announced more than $55 million in committed funds from a group that includes FJ Labs.

Read the full article: E-Commerce Marketplace Aggregators Are Hot On Thrasio’s Heels As Companies Raise $2.3B