What can sellers like you do right now to make your business a valuable asset that will attract sellers when the time comes? Imagine what it would be like walk away from your business with the cash you need to pursue your next project? On this episode of The Amazing Seller, you’ll hear from Scott as he welcomes back his guest, Joe Valley from Quiet Light Brokerage. In his conversation with Scott, Joe opens up about what buyers look for in a business they want to buy, how to put your business in the best position to sell, what type of ecommerce businesses sell, and much more. You’ll need pen and paper for this helpful episode!
What factor does size play?
Only big-name businesses like NBC or Comcast get sold and purchased by investors, right? Wrong! It’s not about the size of the business; it all comes down to the value of the business. Joe Valley says that most business leaders don’t know the value of their business. Do you know the value of your business? If you want to one-day exit your business, you’ve got to have a good idea of how much your business is worth. To hear more about selling your business in the future, make sure to listen to this episode of The Amazing Seller!
How to best position your business
Let’s get down to brass tacks, what is it that attracts sellers to a business? What can ecommerce business owners like you do right now to make your business attractive to future buyers? According to Joe Valley – the primary aspect that most sellers miss is accounting. Too many ecommerce business owners don’t keep a good handle on their numbers and a clear accounting of their assets. Don’t let that happen to you! Make sure you keep clear and detailed records, so your business is operating above board. Learn more about the factors that buyers are looking for by listening to this episode of The Amazing Seller!
Content sites are popular!
You can probably imagine which businesses are popular and attractive to investors. These are the businesses that are virtually turn-key operations where you don’t need much knowledge to keep the money coming in. To Scott’s surprise, Joe reported that content sites like the ones Scott encourages sellers like you to build are extremely popular right now. If you can reach a niche audience and get them to keep coming back to your site – you’ve just displayed market validation. You can go even deeper with this topic by listening to Scott’s fascinating conversation with Joe Valley on this episode of The Amazing Seller.
Be ready for risk
Let’s face it – selling a business and buying a business isn’t for the faint of heart. The buying and selling process is a tough one to navigate – that’s why there are great organizations like Quiet Light Brokerage who are ready to help buyers and sellers like you. One thing that you need to be ready for is risk. If you hate risk and avoid it at all costs – you’ll need to change your mindset. Joe has buyer and seller horror stories, but thankfully, they are few and far between. To hear more about addressing risk and what the buying and selling process looks like – make sure to listen to this episode of The Amazing Seller!
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:35] Scott’s introduction to this episode of the podcast!
- [7:00] What size should your business be before you think about selling it?
- [12:45] Joe talks about what sellers are looking for.
- [18:00] How do you factor in adbacks and come up with a multiple?
- [22:30] Building relationships with buyers and sellers.
- [25:20] The danger of buying a business that is too young or too small.
- [33:00] Are content sites profitable and worth the investment?
- [37:00] Closing thoughts from Joe and how to connect.
- [39:00] Final thoughts from Scott.