Fastest 50: SevenShopper, Inc
Sevenshopper is an e-commerce company mainly selling through Amazon, Walmart and E-bay. The products we sell are consumer electronics vacuums, blenders, pressure cookers, laptops and gaming systems. We also developed our own brand called Microtella which is a fitness tracker. We also offer shipping services through our warehouse through FedEx, and DHL.
What have been the biggest factors that contributed to your company’s growth over the past three years?
What have been the biggest obstacles your company has faced over the past three years, and how did you overcome them?
Changes within the Amazon Market. Third party sellers were affected when Amazon started to sell what we essentially sold. Since we were able to develop our brand with our own listing and marketing, we are able to sell these items without as much competition from Amazon.
Looking back, what’s the biggest mistake you made and what would you do differently if you could?
When the company SevenShopper was established we had 7 investors who each owned 1/7th of the company. Some were just investors, while two worked within the company. This structure isn’t very common, so getting a loan through a bank was difficult. We had to restructure to three partners, which has helped in our growth.
What is the most valuable lesson you’ve learned over the past three years?
You want to be aware of the market trend. We are driven by technology, so we have to stay up to date and aware of the current technologies that can improve or hurt our business.