Selling your Amazon business with Chris and Jason of Providium - a podcast by Michael Veazey

Selling your Amazon business

with Chris and Jason of Providium  Chris Shipferling  & Jason Somerville of Global Wired Advisors/Providium

Why sell your Amazon business?

Is this really the main option for most people long-term?

Selling your Amazon online business is always something you need to consider. Of course, tt’s an option to hang onto your business. Sadly, the  data says you’re very unlikely to  pass this to your kids.

For nearly every person who owns business could make more money by selling it. So you need to have an exit in mind.

Most people hit a point where they need more capital to grow the business.

Most entrepreneurs like solving the puzzle - then they get bored! That could be the time to sell your Amazon business



Click below to estimate the value of your business

Estimate your business value

 

What matters when selling your Amazon business?

Business mindset

There is no downside to building a business as an attractive asset. If you are preparing to sell your Amazon business, it will  benefit you as an owner.

Owner operator or small business…

There is a natural creative /destructive cycle. It's very difficult to innovate and grow and be at front of the market for years.

If you hold on too long, the business may well plateau or even take a  step back.That's a good reason to sell your business before that happens.

Background of our guests in buying and selling businesses

Chris’s background:

Manufacturing 2003-2013

Sold a lot of buggies - worked for a Japanese company

Ran sales and marketing.

Then worked in sales and did some product development

Then ran subset of Barcelona company for 4 years.

One focus was direct to consumer - own own website

What are the best activities - playground to learn great

Got $500K product stuck in warehouse - no retailer wanted it.

Brother- in-law was seller central wizard.

Spent months- webinars, white papers and learned SC inside out.

They ran out of cash so that hurt!

Started own consulting firm.

Lots of contacts in baby space; also amazon and vendor central.

Chris has helped people move from Seller Central to Vendor Central. He speaks the “vernacular” of Amazon.

Chris’s Role in Global Wired Advisors



* Biz dev. - this online world is new to his partners.

* Conveyor belt on selling digitally native and amazon businesses



* He goes under the hood. Love to “King Kong”



* Massive disparity - what you big up vs. Seller central

* What’s going on?

* His background in sales and marketing - what would a potential business buyer look for?











6 million dollar business - only on amazon, no email marketing, no social, no other marketers

To potential buyer in OM: look at what he’s achieved just by great product.

Based on forecast can take $6m and double in one year by focussing on other things.



* Wholesale

* Go international on amazon - uk, Japan, china



Partners build the financial model.

Jason’s background 

In Investment banking 20 years

Worked for bank of America capital markets group

Hedge fund in Miami - wide variety of things

A few years pure entrepreneur - started and  and purchased businesses and exited those

Background of Global Wired Advisors (from Chris)

Wall Street guys

One ran trading desk at Wells Fargo

One went out and acquired businesses

60,

Further episodes of Amazing FBA Amazon and ECommerce Podcast, for Amazon Private Label Sellers, Shopify, Magento or Woocommerce business owners, and other e-commerce sellers and digital entrepreneurs.

Further podcasts by Michael Veazey

Website of Michael Veazey