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This episode is brought to you by Yotpo. The fully digital workplace environment - maybe once a far-off dream for entrepreneurs - came into being quick with the start of the COVID pandemic, says , E-commerce Growth Lead of , a company providing...
This episode is brought to you by Yotpo.
The fully digital workplace environment - maybe once a far-off dream for entrepreneurs - came into being quick with the start of the COVID pandemic, says Travis Price, E-commerce Growth Lead of Mercury, a company providing financial services to digitally native startups.
It's a trend that has helped Mercury grow.
"Not only are we seeing a lot of - quote-unquote - digital nomads who have had aspirations to build a business and live sort of that digital lifestyle, sign up for Mercury," he says, but we're also seeing companies that are operating remotely and have distributed teams leverage Mercury as well."
To that end, Mercury is working on growing out various verticals that can provide value and have a strong product-market fit. That's in addition to the core products that focus on services that traditional banks haven't thought about.
As for the future of banking, Travis says Mercury is building more capital products.
"Every business needs capital," he says. "We want to make that process of obtaining capital a lot easier and a lot cheaper."
Travis offers these words of wisdom for would-be startup entrepreneurs.
"Persistence pays," he says. "In the early days, months, and even years of starting your business, it will be extremely difficult and stressful. There are going to be times when you want to quit. But persistence pays if you truly believe in the product or service you're building, the team you're building, the value you're providing to people. It's going to work out."
In Part 2, Travis talks about:
* The effect of COVID on the digital workplace.
* Building out verticals to provide value and strong product-market fit.
* The trend of holding companies raising capital to buy e-commerce brands and the challenges of that trend.
* Capital, crypto,, and personal banking are three areas that Mercury will focus on in the future.
* How the onboarding process works.
* Advice for new entrepreneurs.
Join Ramon Vela and Travis Price as they break down the inside story on The Story of a Brand.
For more on Mercury, visit: https://mercury.com/
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