Beyond Fulfillment Podcast Supply Chain Innovation Strategies: Lessons from Ben Gordon
Sep 17, 2024
Ben Gordon, founder and CEO of BGSA Supply Chain Strategic Advisory Services and Cambridge Capital, shares his entrepreneurial journey in supply chain innovation. He discusses the challenges of raising capital and the importance of industry expertise. Gordon highlights insights from successful entrepreneurs and the traits he values in startup founders, such as resilience and curiosity. He also outlines the evolution of the BGSA Supply Chain Conference, emphasizing collaboration among logistics leaders and the drive for community-driven innovation.
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Ben's 3Plex Startup Story
- Ben Gordon's first venture, 3Plex, started as a B2B logistics exchange and evolved into a SaaS TMS.
- He raised $28 million, sold it to Mayer in 2002, which then sold it to IBM three years later.
Fundraising Lessons and Mishaps
- Ben struggled to educate investors on 3PLs during fundraising and had an embarrassing car accident with a VC partner's wife.
- Success came from winning backing by supply chain insiders, which helped attract major investors like Goldman Sachs.
Choose Experienced Industry Investors
- Invest with firms that deeply understand your industry to avoid wasting time on basic questions.
- Value investors who bring expertise, practical help, and important commercial introductions.