[Step by Step] How Can I Successfully Sell My Business? (Michelle Cordeiro Grant, Lively)
Future Commerce · with Michelle Cordeiro Grant · December 13, 2019 · 34 min
Summary
Michelle Cordeiro Grant, founder of Lively, shares her journey of building and selling her direct-to-consumer intimates brand to Wacoal in just three years. She emphasizes designing a business for exit from day one, leveraging a strategic manufacturing partnership for flexible supply chain, and carefully selecting investors who align with long-term vision. This episode is a masterclass in founder-led growth, smart capitalization, and strategic exits for consumer brands.
Key takeaways
Architect your business for exit from inception by clearly defining your end goal (e.g., IPO vs. acquisition) and aligning with investment partners who understand that trajectory, as Lively did with its sale to Wacoal.
Prioritize a flexible and high-quality supply chain by strategically partnering with manufacturers early on. Lively's collaboration with Gelmart allowed for nimble inventory management and product development based on consumer feedback.
Be deliberate in capital raising, even when unsolicited. Lively initially sought angel investors and strategics but found an ideal VC partner in GGV Capital through an organic connection, demonstrating the value of patience and alignment.
Simplify your business model for financial clarity and predictable KPIs. Lively's single price point for bras and undies provided clear metrics, making it easier to forecast and allocate capital effectively to team, marketing, and inventory.
Build a strong brand and engaged community as a core asset. Lively leveraged social media and ambassadors to foster a passionate community, which contributed significantly to its appeal and growth.
Welcome to Step by Step, a 5-part series from Future Commerce to help walk you through how to launch and grow a successful business. This season, we're talking about funding. Today is episode 5. Phillip & Brian are joined by Michelle Cordeiro Grant, Founder of Lively to chat about her experience working with Venture Capital from a founder's perspective.
What does this episode say about founder & leadership?
Architect your business for exit from inception by clearly defining your end goal (e.g., IPO vs. acquisition) and aligning with investment partners who understand that trajectory, as Lively did with its sale to Wacoal.
What does this episode say about finance & fundraising?
Prioritize a flexible and high-quality supply chain by strategically partnering with manufacturers early on. Lively's collaboration with Gelmart allowed for nimble inventory management and product development based on consumer feedback.
What does this episode say about dtc strategy?
Be deliberate in capital raising, even when unsolicited. Lively initially sought angel investors and strategics but found an ideal VC partner in GGV Capital through an organic connection, demonstrating the value of patience and alignment.
What does this episode say about brand & content?
Simplify your business model for financial clarity and predictable KPIs. Lively's single price point for bras and undies provided clear metrics, making it easier to forecast and allocate capital effectively to team, marketing, and inventory.
What does this episode say about founder & leadership?
Build a strong brand and engaged community as a core asset. Lively leveraged social media and ambassadors to foster a passionate community, which contributed significantly to its appeal and growth.
