How to Start Your Own Ecommerce Business: Establishing Sound Financials

In 2020, Kemal and Svet started Mango Puzzles, a now-popular ecommerce business brand. Hear their story of believing, building, banking, sourcing, and ultimately shipping their first order, and what they’ve learned along the way.

In this episode, Kemal and Svet discuss the financial basics of starting an ecommerce business. Using examples from their own experience, they discuss funding options (from self-funding to crowdsourcing), along with some logistics you'll need to complete (like your legal foundation documents), and wrap up by explaining profit margins and break even points. This is a great primer on what it takes to get the finances and banking of your ecommerce company set up correctly at the start.

What's covered in this video:

Ways to fund your idea and start your business (0:15)
Setting up sound financial systems from the start (1:35)
Understanding your sales cycles and how to plan for them (3:02)

Want to learn more about what Kemal and Svet discussed in this video? Check out these additional resources:

How to build your company’s first forecast model: https://mercury.com/blog/forecast-mod...

The costs of launching a business: https://mercury.com/blog/us-business-...

All about working capital loans: https://mercury.com/blog/guide-to-wor...

Lessons in bootstrapping your business: https://mercury.com/blog/lessons-in-b...

Crowdfunding guide: https://mercury.com/blog/how-to-crowd...

More about trademarks: https://mercury.com/blog/how-to-trade...

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Check out Mango Puzzles: https://mangopuzzles.com

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About Mercury:
Mercury is the fintech that brings all the ways people and businesses use money into a single product that feels extraordinary to use. Anchored by a powerful bank account*, Mercury gives 200K+ ambitious companies the banking, credit cards*, and software they need to power their financial workflows.

Learn more: https://mercury.com
Try Mercury out: https://demo.mercury.com
More resources and inspiration for ambitious builders: https://mercury.com/blog

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This video is intended as knowledge sharing, not financial advice. Consult a professional to discuss the specifics of your business.

Mercury is a fintech company, not an FDIC-insured bank. Banking services provided by Choice Financial Group, Column N.A., and Evolve Bank & Trust, Members FDIC. Deposit insurance covers the failure of an insured bank.