How to Successfully Sell Your eCommerce Business with Ben Leonard, Co-founder of EcomBrokers

Ben Leonard, Co-founder of EcomBrokers, joins the eCom Ops Podcast. He will talk about the eCommerce brokerage, acquisition strategies, and branding best practices for the best eCom results.

Key Facts

  • Ben’s LinkedIn
  • EcomBrokers’ website 
  • EcomBrokers, which is based in the United Kingdom, serves clients all around the globe. EcomBrokers is the eCommerce brokerage by eCommerce people. 
  • In contrast to other brokers, they have experience creating, selling, & scaling multimillion-pound multinational brands and brokering agreements.
  • Ben holds a Master of Science in Ecology and Environmental Sustainability from the University of Aberdeen
  • Ben is the quintessential millennial entrepreneur. In his leisure time, he created a company using just a laptop and grinding away in his spare time. Ben built a worldwide seven-figure company and sold it after three years

Key Takeaways

  •  [ 00:00:36 ] EcomBrokers began due to the conventional entrepreneurial approach of “trying to fix your own problem“. Its main purpose is to assist eCommerce business owners in running their businesses smoothly by planning and implementing eCommerce business owner exit strategies.
  • [ 00:01:25 ] The way to make money in eCommerce is to “start with the end in mind”
  • [ 00:01:33 ] Typically, with an eCommerce business, you will make at least fifty percent of all the money you ever made from that business when you sell it. The smart way to approach an  eCommerce business today is to plan to sell it eventually from the start
  • [ 00:02:56 ] To run a successful eCom Brokerage company, you need people with experience on all sides of the equation, such as:
    • Accountants
    • Mergers and Acquisitions experts
    • Experts who own and operate their e-commerce brands
    • People who bought businesses and sold businesses
  •  [ 00:04:33 ] The right time to sell your eCommerce business depends on your goals and values and where you are in your life. Work with experts to find out what your business is worth. Knowing its current value shapes your strategy on whether to sell immediately or later
  •  [ 00:05:25 ] Selling your eCommerce business is a very emotional time. Work with experts who can be the buffer between reality and your emotions to prevent you from making irrational decisions
  • [ 00:06:30 ] When deciding to sell your eCommerce business, “a good broker will always tell you what you don’t want to hear”. This is essential to keep you on course and make the right choices during the entire process
  • [ 00:08:23 ] The first mistake people looking to sell their eCommerce business make is they try to sell it themselves or use a cheap brokerage service. 
  • [ 00:09:03 ] When selling your eCommerce business, you don’t save money by avoiding a broker, selling it yourself, or selling it through a cheap service that promises to list and flip it. You save money by working with experts.
  • [ 00:10:40 ] There are no tricks or secret methods for spotting a market opening and capitalizing on it with a single product purchased from Alibaba that will result in instant wealth. For the short-term, this might suffice, but for the long-term, your approach should be to build a brand with a suite of products that would solve real problems for a particular group of people.
  • [ 00:16:49 ] What makes branding a bigger multiplier when it comes to selling an eCommerce business is how well the brand identifies with and provides solutions to the problems of its audience
  • [ 00:21:34 ] Automation plays a vital role in acquiring an eCommerce business. “A buyer wants to pick up your existing business and drop it in theirs”—the more transferable, the better

Ben’s No.1 eCom Ops hack

“The smart way to approach an eCom business today is to plan to sell it eventually from the start”.

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