Summary Jeremy Horowitz, managing partner at Because Ventures, discusses his background in e-commerce and his approach to acquiring and scaling businesses. He shares insights into the psychology of e-commerce and how to optimize sales by leveraging human biases. He also explains the concept of tripwires and the importance of increasing average order value. Jeremy emphasizes the need for speed and hands-on involvement in early-stage businesses and highlights the benefits of treating e-commerce as a game. He also discusses his role at Because Ventures and the areas he focuses on, such as go-to-market strategies and partnerships. In this conversation, Jeremy Horowitz shares insights on acquiring and scaling e-commerce businesses. He discusses the due diligence process and how to identify areas of opportunity for improvement. Jeremy emphasizes the importance of diversifying sales channels and not relying too heavily on one platform. He also challenges the notion of attribution and highlights the significance of focusing on the customer journey and overall business metrics. Jeremy provides advice on building a personal brand and creating engaging content. He concludes by discussing the criteria for investing in a brand and the concept of local maxima theory. Takeaways - Optimizing sales in e-commerce involves leveraging human biases and understanding the psychology of decision-making. - Increasing average order value is crucial for profitability, and offering a cheaper product or bundle can be an effective strategy. - Treating e-commerce as a game and focusing on speed and hands-on involvement can lead to success in early-stage businesses. - In the private equity space, Jeremy's role at Because Ventures involves go-to-market strategies and partnerships. - Jeremy's approach to investing includes acquiring early e-commerce businesses, scaling them up, and building or acquiring SaaS businesses to solve the e-commerce brand's problems. When acquiring an e-commerce business, conduct thorough due diligence and focus on the financial components that drive its operations. - Diversify sales channels to reduce dependency on a single platform and mitigate risks. - Instead of obsessing over attribution, focus on the customer journey and key business metrics to drive sales and improve marketing effectiveness. - When building a personal brand, create content that is both entertaining and educational, and share personal stories to connect with your audience. - Invest in brands that have a loyal following, a niche market, and potential for growth in multiple revenue streams. - Regularly evaluate your focus and make sure you are climbing the most valuable mountain in your personal and professional life. Chapters 00:00 Introduction and Background 13:06 From Corporate America to E-commerce 22:16 Increasing Average Order Value 26:01 Treating E-commerce as a Game 31:01 Go-to-Market Strategies and Partnerships 34:00 Acquiring and Scaling E-commerce Businesses 38:11 Rethinking Attribution and Focusing on Business Metrics 45:26 Building a Personal Brand and Creating Engaging Content 51:37 Investing in Brands with a Loyal Following and Growth Potential 59:46 Climbing the Most Valuable Mountain in Life and Business www.chargeflow.io