Pat Yates is a seasoned entrepreneur with a focus on e-commerce.  In 2014 he struck a deal with Robert Herjavec on the Emmy Award winning show “Shark Tank”.  Pat grew a single slipper kiosk business into a multimillion-dollar e-commerce focused business.  During that time Pat has done licensing deals with DreamWorks, NCAA, NFL and Disney.  In 2015 he struck up a relationship with Mark the founder of Quiet Light and continued eventually leading him to becoming an M&A advisor. He speaks on stages around the world and is an expert in the Ecom space.

> Here’s a glimpse of what you would learn…. 

• Impact of "Shark Tank" on brand visibility and entrepreneur experiences.
• Importance of networking and community among entrepreneurs.
• Process and considerations for getting featured on "Shark Tank."
• Current challenges in the e-commerce market, including inflation and interest rates.
• Strategies for improving business performance before selling.
• Understanding business valuations and the significance of EBITDA multiples.
• Importance of preparation and accurate financial records for business sales.
• Actionable strategies for enhancing business value and growth.
• Role of technology and data analysis in e-commerce decision-making.
• Value of attending industry events for networking and learning opportunities.

In this episode of the Ecomm Breakthrough Podcast, host Josh Hadley welcomes back Pat Yates, a seasoned entrepreneur and M&A advisor at Quiet Light Brokerage. Known for his successful "Shark Tank" deal with Robert Herjavec, Pat shares insights on leveraging the show's exposure, the importance of networking, and the current e-commerce landscape. He emphasizes the need for thorough preparation before selling a business, understanding financials, and maintaining realistic expectations. Pat also highlights the value of data-driven decision-making and the potential of AI tools to enhance business operations. This episode is a must-listen for entrepreneurs aiming to scale their businesses to new heights.

Here are the 3 action items that Josh identified from this episode:

Action Item #1 Consider "Shark Tank": Entrepreneurs with products that appeal to a broad audience should consider applying to "Shark Tank."

Action Item #2 Maintain Accurate Financial Records: Running both accrual and cash basis books is crucial for understanding the business's financial position and preparing for potential exits.

Action Item #3 Focus on Growth: Entrepreneurs should prioritize growth, especially if they are considering an exit.

Resources mentioned in this episode:

• Josh Hadley on LinkedIn
• eComm Breakthrough Consulting
• eComm Breakthrough Podcast
• Email Josh Hadley: [email protected]
• Quiet Light Brokerage
• Exit Preneur Playbook
• Amazon Business Reports
• Google Sheets
• Claude AI
• ChatGPT
• Prosper Show
• Billion Dollar Seller Summit
• The E-Myth
• Delivering Happiness
• Scattered Minds
• Shark Tank
• Beyond the Tank

Special Mention(s):

• Adam “Heist” Runquist on LinkedIn
• Kevin King on LinkedIn
• Michael E. Gerber on LinkedIn

Related Episode(s):

• “Cracking the Amazon Code: Learn From Adam Heist’s Brand Scaling Secrets” on the eComm Breakthrough Podcast
• “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans” on the eComm Breakthrough Podcast
• “Unlocking Entrepreneurial Greatness | Insider Secrets With E-myth Author Michael Gerber” on the eComm Breakthrough Podcast

This episode is brought to you by eComm Breakthrough Consulting where I help seven-figure e-commerce owners grow to eight figures. 

I started my business in 2015 and grew it to an eight-figure brand in seven years.

I made mistakes along the way that made the path to eight figures longer. At times I doubted whether our business could even survive and become a real brand. I wish I would have had a guide to help me grow faster and avoid the stumbling blocks.

If you’ve hit a plateau and want to know the next steps to take your business to the next level, then email me at [email protected] and in your subject line say “strategy audit” for the chance to win a $10,000 comprehensive business strategy audit at no cost!

Transcript Area

Josh Hadley 00:00:00  Welcome to the Ecomm Breakthrough podcast. I'm your host, Josh Hadley, where I interview the top business leaders in e-commerce. Past guests include Kevin King, Aaron Cordovez and Michael E Gerber, the author of the E-myth. Today I am speaking with Pat Yates. He's actually a returning guest here to the ...