Episode 71: Mo Money Mo Problems | How to Get on the Right Side of a Business Transaction with Chris Shipferling

Today I talk with Chris Shipferling, from Global Wired Advisors, a leading Digital Investment Bank focused on optimizing the business sale process. Years ago, selling an Amazon business was a far cry and wasn’t so easy for people to do, but now it’s much more common and Chris’s company makes the whole process a lot smoother. He recommends getting yourself a good bookkeeper and keeping track of your spending, as well as your tax returns in order to raise the value of your business. After financial organization, you need to ask yourself, what is the goal of your company? We discuss the importance of establishing your brand and having your goals set, so that your product doesn’t look like something you just pulled out 20 minutes before launch. We learn some new terms such as average order value, lifetime value, and consumer acquisition cost. Chris tells us it’s better to spend more on a higher quality firm because it can be the difference of millions of dollars in an acquisition. Global Wired Advisors’ focus 2:25What should people do now to increase the value of their Amazon business? 11:47AOV, LTV, and CAC 21:19Agregator 30:40“Who you choose as your intermediary to take you to market, the firm that you choose to represent you in your transaction and your sale, it matters a lot, so don’t take that lightly. And don’t do it on a bargain basis. Don’t say ‘Well this guy is cheaper than the other guy.’ You’re talking about the difference of millions of dollars at stake. I think I want to put it in the hands of somebody who actually has the acumen, has the experience, and knows what they’re talking about.” 28:43Get a valuation at GlobalWiredAdvisors.comSocialhttps://www.instagram.com/smartestseller/https://www.buyboxer.com/Send Scott an Email: [email protected]