As CEO and co-founder of Rumbleship, Alex Lugosch became a banker in order to make life easier for B2B e-commerce sellers and their buyers. Recently, I spoke with Alex about how Rumbleship can help B2B sellers solve their accounts receivable management challenges.
About Dave Bayless
Dave is a “business midwife” who gets energy from helping people innovate in and through their human scale businesses. As a former private equity investor and lender, he helped make more than $500 million in capital commitments to finance growth, acquisitions, and recapitalizations. As part of entrepreneurial teams, Dave has helped raise more than $30 million of equity capital. He's also worked in product development, innovation management, manufacturing, and administrative roles.
“It’s time to save capitalism together,” according to Wefunder. It’s a sentiment that resonates with me. I believe in the value of market-based economies. That said, capitalism could use some work. Jonny Price and his colleagues at Wefunder believe that “regulation crowdfunding” will do much to democratize capitalism. In the process, they aim to do good for entrepreneurs, investors, employees, and communities while doing well themselves.
The business-to-business (B2B) sector is the sleeping giant of e-commerce. Cloud-based e-commerce operations platforms such as Jazva are helping to awaken the massive potential of modern B2B selling. I recently had the opportunity to speak with Ryan Elich about how Jazva is helping make life better for B2B sellers.
Business buyers want payment terms from their vendors, and B2B sellers want to offer them. After all, extending a line of credit to a customer can lift sales and promote loyalty. Michael Noble, the founder and CEO of Apruve, says, “We see about 2.2 times more order frequency and about 3.3 times more line items per order for customers that are given a line of credit versus asking them to pay with a credit card.” It’s no surprise that upwards of 80% of B2B transactions involve customer credit. That said, offering payment terms has a downside, which Apruve seeks to mitigate by offering credit management as a service (CMaaS) to B2B sellers.
Many human scale businesses would like to augment their direct (business-to-consumer or B2C) marketing channels with complementary, indirect (business-to-business or B2B) channels—commonly known as wholesale distribution. The problem with wholesale is that it can devolve into an order-processing hairball. Absent better alternatives, wholesale customers submit orders by phone, email, and even fax. Every relationship is unique. The resulting overhead can be prohibitively expensive. Roger Kirkness at Convictional wants to help automate B2B e-commerce to allow sellers to grow their wholesale channels profitably.
Sometimes we receive feedback in the form of beliefs or conclusions that can be difficult to reconcile with our point of view. In this episode, Laura Black and Dave Bayless explore a technique for decomposing such high-level feedback into the data and meanings that inform it. In the process, Laura introduces the “Ladder of Inference” and the OODA Loop.