Wed, 19 October 2016
So many people are having such great success selling private label products on the Amazon platform through FBA that it’s not too far of a stretch to think that some of them may be interested in selling their business. You may not be thinking about that possibility now but the opportunity may come your way someday. That’s why Scott wanted to have someone on the show who is experienced at buying and selling online businesses who could shed some light on what can be done ahead of time to ensure that should the time come that you want to sell your business, you’ll be able to do it with the least amount of trouble and the greatest amount of profit. You can hear more about this exciting possibility on this episode of The Amazing Seller.
If you do the right thing by your customer, you won’t have any problems.
Too often businesses are built on the strategy of doing everything possible to take advantage of the loopholes in a sales platform’s terms of service. The practice may result in huge profits in a short amount of time but as soon as the platform learns that sellers are abusing the system you can be sure that changes will be made and those businesses will be dramatically hurt, and possibly kicked off of the platform. Today’s guest has tons of experience buying and selling e-commerce businesses and his advice is simple: Do the right thing by your customers and you’ll be OK when it comes to surviving whatever changes do come. You can hear more sage advice like this on this episode.
Set up good clean financials to sell your business more easily and get more offers.
Many entrepreneurs start out doing whatever it takes to make a buck. They may set up one umbrella LLC or Corporation and run all the finances for many smaller business ventures through that one entity. That’s OK at first. It’s entirely legal and most people have to do that to get started. But if you ever want to sell one of those businesses you’re going to discover that there will be fewer buyers interested because you won’t be able to clearly demonstrate the profits of that business on its own. So today’s guest has some tips on how to set up good clean financials for your business so that you can be ready to sell it easily and for more when the time comes.
A business that is successful both on and off of Amazon sells faster and for more.
If you’re considering the sale of your Amazon private label business it’s entirely possible. But will you get top dollar? You won’t if your business is only selling on Amazon. A potential buyer will be more averse to buying your business if you are selling your products on only one platform because if something on that platform changes in a way that adversely impacts your business, their revenue stream could dry up if they were to buy your business. But if the risk is spread out over many sales channels, they’ll be more open to considering your business. On this episode of the podcast, you’re going to learn how important it is to start building those sales funnels and establishing an off-Amazon presence for the sake of selling your business in the future, on this episode.
Buying an existing business can be a very good investment.
There’s so much emphasis these days on building a great online business, and it’s a great strategy for many people. But what if you’re a person who doesn’t really want to go through the hassle and hard work of building a business from the ground up but would be open to buying an existing business and growing it? That’s a great strategy, one that today’s guest sees implemented all the time. If you’ve got money to invest in a business and are curious how it works you can learn a lot from Scott’s guest today, so be sure you listen.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
RESOURCES MENTIONED IN THIS EPISODE