<description>&lt;p&gt;&lt;strong&gt;Summary&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;In this episode of the Ecommerce Finance Podcast, Stephen Brown and Chris Hondl from Finale Inventory discuss insights gained from a decade of building ecommerce software, focusing on inventory management, the evolution of ecommerce, and the challenges faced by businesses today. They explore the importance of establishing standard operating procedures, the differences between ERP systems and federated systems, and the benefits of bootstrapping a tech company versus seeking venture capital.&lt;/p&gt;&lt;p&gt;The conversation also touches on the future of ecommerce, the impact of AI, and the necessity for businesses to adapt and evolve in a competitive landscape.&lt;/p&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Takeaways&lt;/strong&gt;&lt;/p&gt;&lt;ul&gt;&lt;li&gt;The ecommerce landscape has become increasingly competitive and complex over the years.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Inventory management has shifted from basic operations to a more rigorous and strategic approach.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Establishing standard operating procedures is crucial for effective inventory management.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Businesses must evolve to maintain profitability in a changing market.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Bootstrapping a company can lead to better financial outcomes compared to taking venture capital.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;AI is transforming consumer behavior and marketing strategies in ecommerce.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;The future of ecommerce is promising, with continued growth expected.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Companies need to focus on creating unique value propositions to stand out.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Effective inventory management requires discipline and consistency in processes.&lt;/li&gt;&lt;/ul&gt;&lt;ul&gt;&lt;li&gt;Understanding financial metrics like EBITDA is essential for business success.&lt;/li&gt;&lt;/ul&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Chapters&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;00:00 The Journey of Finale Inventory&lt;/p&gt;&lt;p&gt;01:48 Evolving Inventory Management Practices&lt;/p&gt;&lt;p&gt;05:27 Top Tips for Effective Inventory Management&lt;/p&gt;&lt;p&gt;09:59 Common Pitfalls in Inventory Management&lt;/p&gt;&lt;p&gt;13:43 ERPs vs. Federated Systems&lt;/p&gt;&lt;p&gt;18:41 Bootstrapping Finale Inventory&lt;/p&gt;&lt;p&gt;19:37 Bootstrapping Success: The Journey of Finale Inventory&lt;/p&gt;&lt;p&gt;26:21 Understanding Financial Outcomes: Venture Capital vs. Bootstrapping&lt;/p&gt;&lt;p&gt;30:20 The Future of Ecommerce: Trends and Predictions&lt;/p&gt;&lt;p&gt;36:35 AI in Ecommerce: Opportunities and Challenges&lt;/p&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Guest Info&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;&lt;a target="_blank" rel="noopener noreferrer nofollow" href="https://www.finaleinventory.com/"&gt;&lt;strong&gt;https://www.finaleinventory.com/&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;p&gt;Email - &lt;a target="_blank" rel="noreferrer noopener" class="Hyperlink SCXW51458763 BCX0" href="https://www.linkedin.com/in/chondl/"&gt;&lt;strong&gt;Chris Hondl on LinkedIn&lt;/strong&gt;&lt;/a&gt;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Bio&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;Chris Hondl leads the engineering team at Finale. With over 30 years of industry experience, Chris was previously the VP of Engineering for Core Mobility where he had responsibility for systems serving hundreds of thousands of mobile phone customers. Chris earned his BS in Mathematics and MS in Computer Science from Stanford University.&lt;/p&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;If you need help with your ecommerce accounting, reach out to us: &lt;a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;amp;utm_medium=podcast&amp;amp;utm_campaign=e18"&gt;https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;amp;utm_medium=podcast&amp;amp;utm_campaign=e18&lt;/a&gt;&lt;/p&gt;</description>

Ecommerce Finance Podcast

Stephen Brown | LedgerGurus

E18 : Financial Lessons from a Decade of Building Ecommerce Software

OCT 15, 202540 MIN
Ecommerce Finance Podcast

E18 : Financial Lessons from a Decade of Building Ecommerce Software

OCT 15, 202540 MIN

Description

<p><strong>Summary</strong></p><p>In this episode of the Ecommerce Finance Podcast, Stephen Brown and Chris Hondl from Finale Inventory discuss insights gained from a decade of building ecommerce software, focusing on inventory management, the evolution of ecommerce, and the challenges faced by businesses today. They explore the importance of establishing standard operating procedures, the differences between ERP systems and federated systems, and the benefits of bootstrapping a tech company versus seeking venture capital.</p><p>The conversation also touches on the future of ecommerce, the impact of AI, and the necessity for businesses to adapt and evolve in a competitive landscape.</p><p></p><p><strong>Takeaways</strong></p><ul><li>The ecommerce landscape has become increasingly competitive and complex over the years.</li></ul><ul><li>Inventory management has shifted from basic operations to a more rigorous and strategic approach.</li></ul><ul><li>Establishing standard operating procedures is crucial for effective inventory management.</li></ul><ul><li>Businesses must evolve to maintain profitability in a changing market.</li></ul><ul><li>Bootstrapping a company can lead to better financial outcomes compared to taking venture capital.</li></ul><ul><li>AI is transforming consumer behavior and marketing strategies in ecommerce.</li></ul><ul><li>The future of ecommerce is promising, with continued growth expected.</li></ul><ul><li>Companies need to focus on creating unique value propositions to stand out.</li></ul><ul><li>Effective inventory management requires discipline and consistency in processes.</li></ul><ul><li>Understanding financial metrics like EBITDA is essential for business success.</li></ul><p></p><p><strong>Chapters</strong></p><p>00:00 The Journey of Finale Inventory</p><p>01:48 Evolving Inventory Management Practices</p><p>05:27 Top Tips for Effective Inventory Management</p><p>09:59 Common Pitfalls in Inventory Management</p><p>13:43 ERPs vs. Federated Systems</p><p>18:41 Bootstrapping Finale Inventory</p><p>19:37 Bootstrapping Success: The Journey of Finale Inventory</p><p>26:21 Understanding Financial Outcomes: Venture Capital vs. Bootstrapping</p><p>30:20 The Future of Ecommerce: Trends and Predictions</p><p>36:35 AI in Ecommerce: Opportunities and Challenges</p><p></p><p><strong>Guest Info</strong></p><p><a target="_blank" rel="noopener noreferrer nofollow" href="https://www.finaleinventory.com/"><strong>https://www.finaleinventory.com/</strong></a></p><p>Email - <a target="_blank" rel="noreferrer noopener" class="Hyperlink SCXW51458763 BCX0" href="https://www.linkedin.com/in/chondl/"><strong>Chris Hondl on LinkedIn</strong></a></p><p><strong>Bio</strong></p><p>Chris Hondl leads the engineering team at Finale. With over 30 years of industry experience, Chris was previously the VP of Engineering for Core Mobility where he had responsibility for systems serving hundreds of thousands of mobile phone customers. Chris earned his BS in Mathematics and MS in Computer Science from Stanford University.</p><p></p><p>If you need help with your ecommerce accounting, reach out to us: <a target="_blank" rel="noopener noreferrer nofollow" href="https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;utm_medium=podcast&amp;utm_campaign=e18">https://ledgergurus.com/ecommerce-accounting-services/?utm_source=RSS&amp;utm_medium=podcast&amp;utm_campaign=e18</a></p>