Finding the Right Chinese Business Partners Help Sam Marks Sell His Company for Over 100 Million Us Dollars
Welcome everyone to episode 4 of the Forbes China Entrepreneur show – hope everyone is enjoying the spring weather, it’s been warming up here in the South of China.
This week we are in for a treat – we have Sam Marks, a founder of SkyCig e-cigarette company that sold his business for £60 million in the UK share with us the story. And what makes this really awesome for those in China, both westerners and chinese, is that he credits a lot of his success to finding the right Chinese partner. I won’t spoil the juice, but let’s listen in – here we go:
Topics Covered in this Episode
- What did you do prior to SKYCIG?
- What are the most important skills you developed early as an entrepreneur?
- How was SKYCIG started?
- Discuss the challenges of taking an online business to retail?
- What challenges were there in scaling the SKYCIG?
- What are some major factors you contribute to your successful exit?
- What was your plan for taking profits vs. reinvesting earnings into growth?
- What is your mindset in bringing on equity partners to a startup?
- What were some of the advantages in being boots on the ground in China?
- How did you find your manufacturer in China?
- How were you able to form your manufacturing joint venture in China?
- What advantages did your joint venture in China give your brand in Europe?
- What was your exit strategy?
- How did investment bankers help support your exit?
- What have you been up to since the last exit, what new ventures?
People / Companies / Resources Mentioned in this Episode
Episode Length: 40:02
Thanks Sam for coming on the show – and yes – he is full steam ahead on his newest venture he mentioned which is a Smart Mat and he had an amazing showing at CES in Las Vegas earlier this year.
Hope everyone enjoyed – I am working on having one interview a month, focusing on quality like Sam here and stories relating to China. Discussing with a few more people for the upcoming interviews – so keep subscribed here and keep motivated – hope you can be the next SkyCig!
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