Audioburst Search

Build to Sell Amazon Business with Dave Storey

|

Automatic TRANSCRIPT

We have an active Amazon Selah recent solo for his own Amazon business and the creative course on how to build your Amazon business to sell. Which is Dave Story? Welcome to the show. Dave thanks on the show pleasure so think one thing that's important to say is we've got a lot of content now about how to build a business to sell. I make no apology for that is very important discipline. Even if you never sell it ever we can talk about that but The difference between Dave and everybody else that we've had so far to talk about it. Is that Dave is really been learning from building his own business and going through the process plans. I believe painful. I'll talk about that of selling his own business so different perspective which I think is very valuable so thank you so much for coming on the show. That's great so the first thing is is let's start with the end. What if you achieved yourself recently in tons of selling your business businesses give us the sort of like one one sentence summary of them? We'll get into how you got there. Yeah well chieftain. So last year. And a half. What I thought was impossible. At one point. Business wasn't saleable out all turned around freely Learned a lot of things that I shouldn't have gone through in the first place and I realized not in half that if you don't plan and make Your Business As valuable in a salable as possible. You don't have this PLA on the follow then. It may not be sellable and you may be short on hundreds of thousands if not millions of the volume. That was you'll motivation for creating a course to help others avoid pain and I think as I said important point that you'll speak with the perspective. Somebody's recently gone through rather than the broker of stands at the sidelines and clays the cash. So just just to give us the result in sandy turned you business round. Have you actually sold You'll business at this point in time. Yes yes so business at the end of last year. Okay and and can you give us a rough idea? How much get get people salivating? How much money they can make a million financed Stock until a lot that was so you just have a million pounds sterling is that right at Dulles Dulles fantasy yes just clarify not for Americans listening. Be Glad about that because they can never do. This convention changes every day right so yeah so I just wanted to get that out. There said that we continue one was beginning. Somebody's made a million dollars from from southern business. So you've got the results so you told us that was a bit of a painful story that will dig into that but I will just give us a little bit of a background about yourself. What's wherever you come from with list of so I'm forty five now And I started in the world of manufacturing in the UK on. I spent twenty years building myself up from a design. Engineer Designing apertures in products. Right the way through up in the ball almonds quality management supply chain production and finished off. a The Director of operations quite big company and a hot scratch my itch of business and I just felon anew someone that was selling on Amazon go to Carson. There's going about six years ago. That's quite impressive stuff. Because obviously you'll background Really perfectly placed for a hell of a lot of stuff in the tool saying supply chain side which a lot of us myself included really hard. I mean this Us really it just varies by is definitely the hardest business model Fisher remarks. Amazon is is easy compared to that so we may have to get you back on the show. Today's is all about that but for the moment on what was still approach to your Amazon business. Thank you had to scratch his. H How did you get started? Well I a opponent with someone who'd already been working away part time With with a product of the second quarter up and running so I joined a joint him. Join Forces on the Yeah so I put a lot of methodology and rigour in processing the business which was not that Us Many of the techniques that I learned in in in my business slow life and it just really took off from. I think he'd done in the year. Previous star determined turned over about a sense sales. Three Just sort of three hundred fifty thousand dollars In the second year that went up to Into million It it just went from there on the two thousand sixteen. We had this still fifteen two thousand sixteen Tremendous here Hitting the three million mark in two thousand seventeen when we got the business valued at the time. It was with roundabout three million dollars. We we were told but we got perhaps a little bit greedy and things are going. So well let. Let's just keep going. Let's get let's get to the five million mark so that's what we decided to do. Instead of cell on Condado turned out to be a really big mistake about you We took on too much in introduced too many products at the same time did hide Mitt Gyna- carried away in the Amazons of world Shiny objects and things modern thing and why should have just focused in on? What really matters and We got a bit lost era and It was a bit of disaster to be honest and in two thousand and eighteen. We connect little bit and went back out to get the valuation and brokers said I'm not even sure it'd the at this point. We're not only where we down to we. recouping front but we we. There was so many things that were not right with the business To make it saleable so we spent the next year off Getting ourselves back on track. It could have gone completely crushed but we got that in the end. It was pretty good result. Compatible with could have been but it was a nick berry expensive lesson and I don't want this happening go. The sellers ECHINACEA happened. If you don't have this plan

Coming up next