TL;DR: Mike Jackness says the need to move on and relieve the stress of running a business is a sure sign it is time to sell. If you own several brands, sell the one that fulfills your selling objective, which may be your best performer. Clear financial documentation helps you untangle co-mingled funds before the sale.
This guide covers essential aspects of ecom exits.
Mike Jackness, founder of Terran, an e-commerce conglomerate, and EcomCrew podcast, talks about his experience in selling his e-commerce business; the impetus, the preparation and eventual transfer of ownership.
WHAT YOU’LL LEARN
- Background on Terran
- Why Sell?
- Choosing the e-business to sell
- Challenges to a co-mingled business
- Types of Advertising in E-Commerce
- Future plans and Impact of Covid-19
KEY POINTS
- The need to move on, to relieve the stress caused by running a business is a sure sign that it is time to sell.
- If one owns several e-businesses, it is best to sell the product that fulfills the selling objective. It could mean selling the best performing brand in order to ensure successful sale.
- Having clear financial documentation would help in the untangling co-mingled funds in the business.
- The virus crisis may provide an opportunity to check out good brands of e-businesses you can buy and scale profitability.
80+ in-house specialists across PPC, supply chain, account management and content.
CONTACT MIKE JACKNESS
If you want to learn more about Amazon hacks and tactics, make sure to head on over to the Ecom Crew website.
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