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You’ve decided you want to sell your FBA business. It’s going to be an exciting time, but also complex. You’ll have a lot of work to do, many tough decisions to make, and you’ll need to get up-to-speed quickly if you want to get through smoothly and avoid making expensive mistakes.
You may be thinking: “It’s fine, I can handle this.” After all, you successfully built your company by yourself. This is just one more stage you need to figure out and work through.
That confidence may have helped you in the normal day-to-day running of your business. But selling your business isn’t normal. There are no “do-overs” here. If you close the deal but have regrets you can’t go back and try again. And that’s the “successful” outcome. If things don’t go to plan and the deal falls apart then not only have you lost time, but you’ll still be on the hook for a long list of expenses. Good lawyers and accountants aren’t cheap, and they expect to be paid whether you complete the sale or not.
If you want to lower your odds of failure or regret then you need all the help you can get. You need support.
Friends & family
I hope your friends and family will support you as you work towards your dream FBA exit. They can be great sources of emotional support, but if they haven’t sold an Amazon business before it’s going to be hard for them to truly understand what you’re going through. This also means that they are not going to be much help when Amazon or M&A related issues arise. And issues always arise during a sale.
And then there’s the money.
I'm sure you are aiming to sell your business for a life changing amount of money. That would be a fantastic outcome, but you might not feel comfortable sharing the details of the transaction with everyone. Money can do strange things to relationships, and you should stop and think before deciding to tell your cousin that you’re hoping to walk away with hundreds of thousands of dollars in the near future.
Attorneys & accountants
You’ll be working closely with your lawyers and accountants throughout the deal, and as trusted professionals you can be open with them in ways that wouldn’t feel comfortable with your friends or family.
But at the end of the day, they are helping you with a service. They should have a lot of valuable expertise, but it’s probably going to be limited to the area of the service they provide. If you have last minute issues with your Amazon account your accountant probably isn’t going to be able to have any tips on how to resolve them.
Also, like your friends and family, they probably haven’t built and sold their own business before, so they won’t know what it feels like to actually go through the process.
The missing piece of the puzzle
Oliver and I were very fortunate to have the support of our friends, family, lawyers and accountants during the sale of our business. But even as we were going though the process, we knew there was a group missing.
We wanted to speak with other people who had been through the process. They would understand what we were going through because they’ve been through it already. They could share advice, answer questions and tell us about the strategies and tactics they’d used.
We didn’t know where to find these people when we were selling.
But you can – in our private community.
It's a confidential space where you can ask questions, seek advice or feedback, and get support whenever you need it. It’s the missing piece of the puzzle, and it can help you get closer to achieving your dream FBA exit.
The private community is available to members of our video course. You can learn more about the course and enroll here.
