Vendevor is a company that allows a small business to start selling its products online almost instantly from its existing website, Facebook page, or blog. A firm that intends to sell online generally has had to hire a tech team to help shape the individual Web page to process sales and accept payments. Vendevor has tools that can allow the firm to almost instantly start selling online by accepting credit cards for payment; Vendevor transfers those sales almost instantly to the firm's bank account. An additional benefit that is particularly attractive is that it allows a firm to bypass third-party sources such as PayPal or other typical merchant accounts and payment gateways that have monthly fees and transaction fees that begin to add up. The attraction of these benefits is that Vendevor has been experiencing exponential growth.
The three founders of the firm all came from Baylor University. Two of the founders were students and one was an instructor. The instructor and one of the students had a class together where the student had to develop a business plan. The initial business plan was to be a wedding-related business. The student in the class (Charlie) was already in a small business with a fellow student who was an amazing programmer.
The investigation of the wedding business and Charlie's other small ventures led to the recognition of a core need for businesses to sell their products on the Internet and to ensure they got payment without having to use sources such as PayPal, which did not look professional on their website The plan for the wedding business that originated in class was dropped in favor of Vendevor.
The three entrepreneurs initially raised $40,000, which allowed them six months to develop the initial product and gain five customers. Today the firm has raised approximately $500,000 and is approaching breakeven with more than 9,000 clients who have signed up with Vendevor. The firm has five full-time and several part-time employees. The expectation is that number will increase significantly over the next year with one new salesperson per month being added. The firm will be very well positioned in this new area if it is ever approached by a strategic buyer (a large wealthy firm looking to enter the niche). While the team works very well together, they set up the firm with well-defined documents on how the process would work if one of the founders wanted to leave or somehow did not fulfill his share of the work.
The firm has a seven-member advisory board that is very supportive of the firm. The benefit of a strong advisory board can be seen in the firm's ability to accept credit cards on behalf of their clients. One board member put the founders in touch with a bank looking to expand into the Internet space. The bank partnered with Vendevor so that the bank and Vendevor both grew in expertise. The bank knew from their analysis of Vendevor's model that there was a real opportunity for high growth. Vendevor saw an opportunity to partner with a bank that would set the processing fee very competitively. The bank's staff supports Vendevor by doing background checks on each of the firms that signs up to ensure each is legitimate and has bank fraud tracking experts. The result has been a win-win that has benefited both the firm and the bank. Even though some of the advisory board members are family friends, they all bring expertise to the firm. For example, the CEO for one of the largest application makers for cell phones in the United States serves on the board. The board members meet virtually and always
Vendevor เป็นบริษัทที่ช่วยให้ธุรกิจขนาดเล็กการเริ่มขายผลิตภัณฑ์ออนไลน์จากเว็บไซต์ที่มีอยู่ หน้า หรือบล็อกเกือบจะทันที บริษัทที่เปิดขายออนไลน์ทั่วไปได้มีการจ้างทีมงานด้านเทคนิคเพื่อช่วยให้รูปร่างหน้าเว็บแต่ละกระบวนการขาย และรับชำระเงิน Vendevor มีเครื่องมือที่สามารถช่วยให้บริษัทเกือบจะทันทีเริ่มต้นการขายออนไลน์ โดยรับบัตรเครดิตสำหรับการชำระเงิน Vendevor โอนผู้ขายบัญชีธนาคารของบริษัทเกือบจะทันที มีประโยชน์เพิ่มเติมที่น่าสนใจโดยเฉพาะอย่างยิ่งเป็นที่จะช่วยให้บริษัทเพื่อหลีกเลี่ยงแหล่งอื่นเช่น PayPal หรือบัญชีร้านค้าทั่วไปอื่น ๆ และเกตเวย์การชำระเงินที่มีค่าธรรมเนียมรายเดือนและค่าธรรมเนียมธุรกรรมที่เริ่มเพิ่มขึ้น แหล่งท่องเที่ยวของคุณประโยชน์เหล่านี้ได้ที่ Vendevor ได้รับประสบเรขาผู้ก่อตั้งที่สามของบริษัททั้งหมดมาจากมหาวิทยาลัย Baylor สองผู้ก่อตั้งมีนักเรียน และคนผู้สอน ผู้สอนและของนักเรียนได้เรียนด้วยกันที่นักเรียนมีการพัฒนาแผนธุรกิจ แผนธุรกิจเริ่มต้นที่จะ เป็นธุรกิจที่เกี่ยวข้องกับงานแต่งงาน นักเรียนในชั้นเรียน (ชาร์ลี) อยู่แล้วในธุรกิจขนาดเล็กมีนักเรียนเพื่อนที่เป็นโปรแกรมเมอร์ที่ตื่นตาตื่นใจThe investigation of the wedding business and Charlie's other small ventures led to the recognition of a core need for businesses to sell their products on the Internet and to ensure they got payment without having to use sources such as PayPal, which did not look professional on their website The plan for the wedding business that originated in class was dropped in favor of Vendevor.The three entrepreneurs initially raised $40,000, which allowed them six months to develop the initial product and gain five customers. Today the firm has raised approximately $500,000 and is approaching breakeven with more than 9,000 clients who have signed up with Vendevor. The firm has five full-time and several part-time employees. The expectation is that number will increase significantly over the next year with one new salesperson per month being added. The firm will be very well positioned in this new area if it is ever approached by a strategic buyer (a large wealthy firm looking to enter the niche). While the team works very well together, they set up the firm with well-defined documents on how the process would work if one of the founders wanted to leave or somehow did not fulfill his share of the work.The firm has a seven-member advisory board that is very supportive of the firm. The benefit of a strong advisory board can be seen in the firm's ability to accept credit cards on behalf of their clients. One board member put the founders in touch with a bank looking to expand into the Internet space. The bank partnered with Vendevor so that the bank and Vendevor both grew in expertise. The bank knew from their analysis of Vendevor's model that there was a real opportunity for high growth. Vendevor saw an opportunity to partner with a bank that would set the processing fee very competitively. The bank's staff supports Vendevor by doing background checks on each of the firms that signs up to ensure each is legitimate and has bank fraud tracking experts. The result has been a win-win that has benefited both the firm and the bank. Even though some of the advisory board members are family friends, they all bring expertise to the firm. For example, the CEO for one of the largest application makers for cell phones in the United States serves on the board. The board members meet virtually and always
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