『He's Done 70 Acquisitions — Day One, He Calls PayPal』のカバーアート

He's Done 70 Acquisitions — Day One, He Calls PayPal

He's Done 70 Acquisitions — Day One, He Calls PayPal

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Bawar Ahmad has bought around 70 ecommerce businesses in six years, and the first thing he does after the money clears isn't marketing. It's ringing the vendors.SummaryBawar Ahmad co-founded Ecomma, a Dubai-based micro private equity firm that buys, scales and sells Shopify businesses. Around 70 acquisitions and 60 exits later, with a team of 40 and a target of 30 to 36 more acquisitions this year, he has turned what most people treat as a once-in-a-lifetime event into a repeatable system.He walks Matt through the 12 to 15 "value drivers" his team runs on every store they acquire, why valuation comes down to just two things, and the mistake that quietly costs sellers a chunk of their exit. He also explains how Ecomma gets from first questionnaire to cash in the seller's bank in 14 to 20 days when the industry standard is three to four months.Matt, who has bought and sold ecommerce businesses on very different terms, pushes him on the other side of the coin, which is growth by acquisition. If you're turning over a million and want to get to five, should you double from scratch or go and buy someone?00:00 — Welcome, and two ecommerce dinosaurs meet03:22 — Seventy acquisitions in six years06:11 — The first deal, a declining shoe brand bought before Black Friday10:04 — What happens in a seller's head once they decide to sell12:28 — Choosing an advisor, and the clean-financials red flag16:02 — Normalisation, SDE and the tax conundrum17:51 — Fourteen days from questionnaire to cash in the bank20:09 — Asset purchase or share transfer on sub-$2m deals24:06 — Profit, risk, and the value drivers that run on day one29:11 — Voice marketing as the third retention channel32:48 — Where to start if you want to buy a business35:25 — Due diligence is for understanding, not just verifying38:32 — When the brand is built entirely around the founder41:09 — Buy for the audience, not the niche46:52 — Structuring a deal when you buy a competitor50:31 — What Ecomma buys, and the free exit-prep checklist53:22 — Saving the best till last, get your data room ready(Chapter markers aligned to the episode video.)The Day-One Phone Calls That Move the Numbers (24:06)Valuation comes down to two things in Bawar's model, profit and risk. Ecomma either grows one or removes the other, and about 20% of the time they add value without touching profit at all — building a team, adding backup suppliers, getting better contracts in place, removing the dependencies a buyer would discount for.The rest is a standardised playbook of 12 to 15 value drivers, and the first one he gives away is negotiating costs down. On day one, the team rings every vendor on the account. The Klaviyo bill, the PayPal transaction fee, the supplier, the 3PL. Then they ask for better pricing."You'll be surprised how much of the vendors were like, we're waiting for this call for some time." — Bawar AhmadHe reckons that alone moves profit by roughly 20% almost overnight. On the payments line specifically, his framing is blunt."So on PayPal, we've added 20% of valuation on the first day." — Bawar AhmadThe next two drivers are marketing ones.Creative volume. If a brand is shipping 8 new videos a month on Facebook, Ecomma pushes it to 20 or 30 and expects ROAS to follow.Untapped retention channels. SMS flows and campaigns get switched on, then voice.Stack enough of those small percentages and, in his words, before you know it you've doubled the business in 90 days. His stated average across the portfolio is a 150% uplift in 90 days.Don't Assume the Sale (10:04)Bawar says he sees the same sequence in about 90% of sellers. Life changes, they Google whether they can sell, they land on a valuation form promising a big number, they list, and the interest floods in. Then, 30 or 50 conversations later, the buyers go cold and the seller starts drifting away from the business.That's where the damage happens. New creative doesn't get made. The influencer deal gets shelved. Inventory doesn't get reordered. Performance dips, and buyers can read a declining chart as well as anyone."You don't want to run the business as you're gonna sell it." — Bawar AhmadThe example he gives is illustrative rather than measured, but the shape of it holds. A business doing $100,000 profit a year at a 3x multiple is a $300,000 exit. Let performance slide during the sale process and that same business might fetch $150,000. Two or three more months of running it properly is, on his maths, worth the difference.Clean Financials Beat a Good Pitch (12:28)Bawar's third seller mistake is the one he came back to at the end of the episode when Matt asked for the best advice he hadn't yet given. Plenty of brands doing millions a year are still run on Google Sheets, with the car lease and the Uber Eats going through the same entity as the stock."It's just a red flag." — Bawar AhmadBuyers at this level often aren't ecommerce natives, so messy books make a business hard to ...
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