INspired INsider Podcast Identifying the Best Startup Strategy with Ray Nolan Founder of XSellco
Ray Nolan is one of Irelands most successful internet entrepreneurs. He founded Raven Computing (later known as Coretime Ltd) in 1989. Coretime Ltd was sold to Sage in 2004. In 1999, he founded the hugely successful online room reservation group Hostelworld.com. It was a leading worldwide brand with distribution contracts in 170 countries and more than 12MM visitors a month. He sold it in November 2009, returning more than $500MM on just $150K total investment.
Ray is also the former chairman of Skyscanner. He founded and is acting CEO for XSellco Software, they provide market-leading eCommerce SaaS tools.
Here's a glimpse of what you'll learn:- [0:50] Jeremy's introduction to his guest, Ray Nolan.
- [2:00] What is going on with Xsellco?
- [3:50] Trends that Ray sees in the ecommerce industry.
- [7:00] How did Xsellco get started?
- [12:30] How does Ray manage his time?
- [15:30] Ray talks about rolling out successful products.
- [19:00] Bootstrapping vs. Raising Money when starting a business.
- [23:00] Ray talks about building his team for Xsellco.
- [25:30] Ray's strengths and weaknesses.
- [30:00] Valuing employees.
- [32:00] High points and low points for Ray and Xsellco.
- [35:00] Ray talks about acquiring smaller companies.
- [37:00] Ray talks about acquiring Hostels.com
- [42:00] Difficulty in the travel industry after terrorist attacks.
- [45:00] Responding to feedback from customers.
- [51:00] Kissing Frogs.
- [54:30] The advantage of being an Irish entrepreneur.
- [59:00] Why does Ray only have 9 toes?
What is the best startup strategy? Is it bootstrapping or raising money? Which method is best for you and your product to get maximum exposure and investment? There are a lot of people out there that will point to this example or that one but what about someone who has been there and experienced the actual effect of each methodology? On this episode of Inspired Insider, you'll hear entrepreneur and business leader Ray Nolan discuss his approach to starting and growing a small e-commerce business back in the late 90's and how his approach has changed as he builds products and businesses in the e-commerce space today. You don't want to miss Ray's valuable insights that can help you understand the marketplace and how to best proceed on your journey toward success!
A clear mark of a successful and wise leader is one who knows their strengths and weaknesses. Do you know not only what your strengths and weaknesses are but how to build a team that adapts to them? Don't neglect this essential step in cultivating a healthy team and thriving work environment! On this episode of Inspired Insider, you'll hear how business leader Ray Nolan has identified his weaknesses and built a team that helps him in those areas so his strengths and shine unhindered. Find out how you and leverage your own strengths and weaknesses to better position your business for success on this episode!
In a fast paced and ever growing marketplace, you've got to be prepared to respond to opportunities to acquire businesses that would expand your company's reach and influence. Alternatively, you've got to be prepared for the likelihood that if you succeed as a small business, you might be on the radar of your competitor as a company to acquire. On this episode of Inspired Insider, Ray Nolan explains his perspective on business acquisitions and how he has taken advantage of this business practice in the e-commerce industry. Don't miss this fascinating episode!
One of the biggest mistakes that many e-commerce businesses make is failing to adapt to customer feedback. In what ways could your business create an avenue for and begin to implement changes that would instill loyalty and appreciation from your customer base? On this episode, you'll hear from business leader Ray Nolan as he shares how his company has adjusted their practices based on customer feedback. This implementation has served their customer base better and allowed them to stand out among other competitors in the marketplace. To hear Ray go deeper with this topic, make sure to listen to this episode of Inspired Insider!
Sometimes you have to kiss a bunch of frogs before you get a prince. The idea behind this truth is that you have to try and risk before you find the idea or product that will bring you success. Rarely will you get to experience a trouble free or frog free path along your journey. On this episode of Inspired Insider, you will hear from business leader and entrepreneur Ray Nolan. Ray walks through how he's pushed through difficulty and failure to eventually get his shot at success. This is an encouraging episode that you don't want to miss!
Resources Mentioned on this episode- Ray's Twitter page: twitter.com/RayNolan
- Ray's LinkedIn page: linkedin.com/in/ranolan
- Xsellco
- Amazon
- Ebay
- Alibaba
- Walmart
- Shopify
- Hostels
This is part of the Skubana Ecommerce Mastery Series where top Sellers and Experts teach you what really works to boost your ecommerce business. Skubana is a platform to manage your entire ecommerce operation.
Rise25 is where entrepreneurs of 6,7, and 8 figure businesses come together live and in person every few months to solve their biggest business challenges through this high-level Mastermind group. Each member leaves each week with lifelong friendships and actionable steps to take their business to the next level. Check out Rise25.com - a group run by myself and cofounder John Corcoran. Rise 25 is application only.