Don't Trust the Bank: Farkas Says Acquire, Not Build
Chris Farkas built then bought. He warns founders: acquiring beats starting, but banks aren't investment judges. Stress-test your deal or risk your home.
40 hours of podcasts, in 5 minutes.
Chris Farkas acquired emergencykits.com a year and a half ago, an e-commerce business selling emergency preparedness kits primarily to institutions. He recounts surviving a significant J-curve caused by marketing agency missteps and a critical website bug that led to a substantial loss in revenue, pushing him to the brink. Farkas shares his journey from a services background to becoming an e-commerce operator, detailing his due diligence challenges, the value of building his own team for assembly, and his current optimism for the business's future after implementing a "best of breed" marketing strategy.
Chris Farkas built then bought. He warns founders: acquiring beats starting, but banks aren't investment judges. Stress-test your deal or risk your home.
Coming from services, Chris Farkas built a 3-question framework for acquiring businesses, helping him choose emergencykits.com despite initial discomfort.
Chris Farkas found messy books and obsolete inventory acquiring emergencykits.com. He reveals why he accepted a financially imperfect deal to preserve crucial seller goodwill.
Chris Farkas built EmergencyKits.com on a controversial fulfillment strategy: ditching 3PLs and Amazon FBA for in-house, build-to-order assembly. Here's why.
Chris Farkas lost $500k in 7 weeks to an invisible website bug. His story of near-collapse reveals acute e-commerce vulnerability. Learn how to avoid it.
After a disastrous J-curve, Chris Farkas rebuilt emergencykits.com's marketing using "best-of-breed" point solutions. Learn his agency hiring method.
Chris Farkas commuted cross-state bi-weekly for 15 months to run emergencykits.com. The personal toll of 'remote-friendly' e-commerce will surprise you.