How to Build and Sell Your eCommerce Business with Ben Leonard
Release Date: 06/30/2022
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info_outlineDo you know what it takes to succeed in eCommerce, get unstuck, take control, and scale up? In this week's episode, Ben Leonard, the Ecom Broker's brand ambassador, discusses the grind and the hustle that he had with building his first brand and why he decided to sell it. He also shares what he learned from that process to build his new brand. Pay close attention to the suggestions he has for sellers to make sure they're maximizing the potential of their business. Listen and enjoy!
Best known as the founder of Beast Gear, Ben Leonard is the classic millennial entrepreneur. He built a business on a laptop, in a cupboard, in his spare time. The difference? Ben grew an international 7-figure business and successfully exited after 3 years; the business holy grail. Ben is Ecom Broker’s brand ambassador and digital marketer. He is busy building the network, creating relationships, and banging the drum! In addition to Ecom Brokers, Ben is busy building brands and helping others follow in his footsteps with his consultancy, courses, and mentorship program.
Key Highlights:
[00:01 - 06:53] How an Ecologist Built an E-Commerce Empire
•Ben shares his background and work
- Ben's journey into eCommerce and how he built his first brand
- Building a fitness brand and transitioning to selling on Amazon
• How to maximize the value of their businesses and achieve an optimal exit
[06:54 - 20:01] Selling an E-commerce Business: A Step-by-Step Guide
•Why selling the business was the right decision for Ben and his family
•The challenges of starting and selling an eCommerce business
- Cash flow management and product quality
• Why working with an intermediary makes a difference
- Growing the business by applying skills such as relationship building and product quality.
• How Ben became passionate about eCommerce and decided to build a legitimate brand
[20:02 - 33:45] How to Sell Your E-Commerce Business When the Markets Are Maturing
• The high barrier to entry for starting an eCommerce business is becoming increasingly important
• One way to protect your brand and increase its value
- Have intellectual property rights in place
• What sellers should look at to decide whether or not to sell
- Understand the data and its current value
• The importance of focusing on mitigating risk for buyers when selling
- Buyers want to buy a business with a low-risk profile
[33:46 - 37:13] Closing Segment
• Why selling on selling on Amazon and eCommerce is important
• Ben on the four rapid-fire questions
• Book a strategy session, drop your questions and comments on https://letstalkexits.com
Want to connect with Ben? You can follow him on LinkedIn.Head to Ben Leonard, and smash your eCommerce goals!
Visit Ecom Brokers, and sell your business for the best possible price.
Key Quotes:
"If you don't get product quality right, it ain't gonna fly." - Ben Leonard
"One of the main things that I apply to, anything I do in business is relationship building and win-wins." - Ben Leonard
"If I'm not an expert at something I'm gonna work with someone who is." - Ben Leonard
Visit Let’s Talk Exits and drop your questions and comments https://letstalkexits.com
Connect with Meny on LinkedIn: http://linkedin.com/in/menyhoffman
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