— Blog
Brand finance, capital, and growth.
Ben Tregoe on brand finance: capital strategy, inventory, margins, cash flow, and building consumer brands that generate cash.
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14 posts on Fundraising
August 12, 2026 · Operations, Logistics
Fix how you code inventory
Accounting will code inventory invoices as expenses for several reasons. You may not be aware it’s happening. And you may not be aware of the implications and benefits of fixing it.
July 31, 2026 · Credit & Loans, Fundraising
An Opinionated Compendium of the Best Guides and Directories
Resources we have created or sourced to help founders better understand and navigate brand finance and capital challenges.
June 21, 2026 · Capital Efficiency, Credit & Loans
Field Guide for How to Think About Capital for Brand Growth
A field guide for scaling consumer brands on how to think about inventory financing, and every other capital option, based on the growth it unlocks, not its sticker price.
May 1, 2026 · Data, Margins
Latest Elephant Herd Index
Latest Elephant Herd Index
March 6, 2026 · Capital Efficiency, Fundraising
Judge Capital By Growth Enabled
How much growth does this capital enable?
March 2, 2026 · Capital Efficiency, Strategy
How You Think of Capital is Wrong
“What’s the APR? What’s the rate?”
September 26, 2024 · Credit & Loans, Capital Efficiency
How to: MCA’s
You need money and you need it fast. But you are worried about making a mistake. This post will help you make a better decision and sleep at night.
April 25, 2024 · Equity, Exits
The folly of multi-brand fashion online?
“Selling fashion online from a multi-brand platform is a bad business, as the disastrous experience of Farfetch demonstrates,” Bernstein Analyst Luca Solca (LinkedIn, @LucaSolca)
March 13, 2024 · Exits, Equity
Are you building a brand or an ad arb business?
Are you building a brand or an ad arbitrage business?
February 8, 2024 · Data, Margins
The Unhappy 13: Lessons from poor performance
These are the 13 companies in the Elephant Herd Index that had both (a) negative 12 month returns and (b) 3 month returns below the S&P 500 which makes for unhappy investors.
February 7, 2024 · Equity, Margins
The Elite 5 and Return on Capital
5 ecommerce and retail brands have more than doubled the S&P 500 return over the past 12 months.
January 30, 2024 · Fundraising, Equity
Multiples!
This morning I caught up with an investment banker focused exclusively on emerging consumer brands. You would be familiar with the logos on their page.
January 17, 2024 · Margins, Capital Efficiency
The question you must answer
Which quadrant are you?
January 4, 2024 · Margins, Capital Efficiency
The Payoff Playbook
Will this be worth it?
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