Exiting Your Amazon Business Part 1

Bogdan Editoiu joins to discuss how he exited his Amazon business taking some money off the table. 

A bit of a background

  • Bogdan Editoju is from Romania and started with drop shipping in Amazon and EBay. He worked full time as engineer in IBM.
  • He focused on building his brand, ranking them and launching new products.
  • He has started selling in the 90’s.

Starting out the business

  • Bogdan Editoju used keyword research  and good pictures to start out his business and sold out 300 units on a product launch.
  • He invested 10 to 15,000 dollars in his business and did not take out any money from the business.
  • Bogdan also sold his car, quit his job and asked for help from friends and family to raise more money.
    • Make sure to launch new products over a period of time. This is crucial.
  • He raised $150,000 from a partner. Started with small amounts and when it was time to grow the business, we raised $150,000 with the partner.
    • The $150,000 were invested to launch 3 products.
  • In 2015, Bogdan sold a technical product and had User Videos for buyers to help them put together the products.
  • In 2017, the business was hitting a hundred thousand in profit a month.
  • He exited last year and sold his business for $2.4M to Thras.io

Selling the business

  • Bogdan decided to sell the business in 2018.
    • He sold the business through a broker.
  • Plan ahead, get accounting and corporate structure.
    • Be careful with your expenditures in the 12 month prior.
  • Talk to a broker and start making calls to potential buyers.
  • When your received the LOI, make sure to check the payment structure.
    • If your business is below $1M, you will get offers from lower businesses while higher than $1M, you will expect offers from bigger businesses.
  • The LOI will contain the details, after that due diligence part of the process will begin.
    • The LOI is non-binding so the buyers can easily drop off and decide that they are not interested.
  • Don’t get attached to the numbers – nothing is finished until the business enters your bank account.
    • Nothing is finalized until the money is received.

Tips

  • Draw the line and answer only the important questions.
  • Invest time but not too much of your time.
  • Selling is a whole new process than growing your business.
  • Work with the buyer and you fgeel that the buyer does not want to commit then just draw the line and move forward.
  • While waiting for a good buyer, work on your business and grow it well!
  • Take a break from the business, and freshen up.
  • Use that money to grow another business or brand. Work with your strengths and build new skills.

 


About SellerSessions 2020

Multi Brand 7 Figure Seller Liran Hirschkorn  Returns May 9 2020

Liran has had his best year yet as his popularity amongst his peers has grown. Not content with running 2, seven figure brands, he is a globetrotting public speaker , course creator, podcaster and an agency owner looking after PPC for Amazon Sellers. He is the first winner of the prestigious Outstanding Contribution SellerPoll Award.

Destaney Wishon Makes Her Debut at Seller Sessions Live

Destaney is Co Founder and CMO of BetterAMS.Her career in Amazon Advertising began 4 years ago when she got a start managing ads for some of the most well-known brands on the platform. Since then she has managed advertising initiatives for over 100 brands, and a countless number of campaigns through BetterAMS.

Dr Ellis Whitehead Returns As A Special Guest Panelist

Last year the good doctor impressed the delegates with his thoughtful approach to PPC and the A9 algorithm, you can catch him again this year armed with more knowledge and insights for you to take away on the day.

Zack Franklin joins us on May 9 2020

Ever wondered what the Chinese Sellers are up to? How they stay ahead of the curve? Well, Zack works with 7,8 and 9 figure sellers and is based in the heart beat of China, in the futuristic city of Shenzhen. He will be spilling the beans and discussion some great ideas you can implement with external traffic…

Athena Severi Returns as Co Host

Athena is known for her own brands China Magic and the Titan Network, she also puts on dinners and events around the world including SellerCon.  Again, Athena will be sharing mic duties on the day and keeping the program running smoothly.

Paul Harvey Back By Popular Demand

Last year Paul was voted one of the best keynotes, he has a nature talent for speaking and education. This year he will take it up a notch armed with a new bag of tips and tricks you can implement on your business.

Ivelin Demirov Returns With Workshop And Guest Panelist Spot

Last year Ivelin wooed the crowed with his simple hacks and how to implement them. In Sept we put on his Orange Hat high end Mastermind Workshop; which sold out in 47 hours. This year he is back with a spot on the panel and will be announcing his Workshop on Friday May 8 in the next few days.

Brandon Young Makes His Seller Sessions Debut

Brandon is a multi-brand late 7 figure seller, and is well respected by his peers in the community. Fresh from his double win at SellerPoll for Course Provider and Consultant. We have brought him in a as a speaker and will be announcing his workshop very shortly.

Dr Yev Marusenko Makes His Debut On May 9

Yev is one of the most progressive thinkers in our community and always looking to break ground on a technical level. He is the founder behind AmzJet and ZonTracker; carving out his own corner in the software space. We are looking forward to having his insights into some of the best external traffic strategies you can implement in 2020.

Nadine Schöpper Joins The Family At Seller Sessions Live May 9

Nadine co-founded the PPC automation tool BidX. When her partner came up with the idea of optimizing Amazon advertising programmatically, she set the technical foundation for a web application. We have spoken at the same conferences many time and I look forward to having her speak on May 9.

Seller Sessions Live Will Be Donating To Tommy’s Charity For Babies Born Asleep

As a father that lost a son and daughter, we will be supporting Tommy’s who do pioneering research into the loss of premature babies. We will be donating and hope you can too…

https://www.tommys.org/our-organisation/donate-to-charity

5 Free Spaces For Single Parent Amazon Sellers May 9 2020

This year we will allocate 5 free spaces at the conference for full time single parent Amazon Sellers.

We will cover child care either on site (insurance and Health & Safety pending) or we will pay the childcare if the capacity is not there onsite. Get in touch to see if you qualify, we will provide those that we feel will benefit the most.

Seller Sessions is back at the David Game Keynote Theatre

We take your education seriously, the David Game is a tiered seating environment which is perfect to capture your notes from the exclusive presentations given by our world class speakers….

Thank you to our Sponsor Utasker for providing the beautiful pens and pads for all our delegates to maximise their content retention on the day…

Free Boat Party for Delegates of Seller Sessions Live

Sellers Alley and YLT Translations are kind sponsors of the Boat Party taking place on Saturday night from 7pm. Seller Sessions after parties are stuff of legend, so you won’t want to miss this… After a long day of taking in exclusive content at the conference the evening is reserved to let your hair down. See you on the dance-floor.

If you are looking for help or more information check out: https://sellersessions.com/case-studies/

  • Catch Dr. Ellis Whitehead at SellerSessions LIVE 2020!
  • ↪️Saturday May 9, 2020 👉Here’s the link to book your tickets http://bit.ly/ssl2020uk
  • Conference ticket includes access to the Sellers Alley and YLT Translations”Boat Party”

Our Sponsors:

About SellerSessions 2020

  • Our venue this year: The David Game Keynote Theatre, with tiered seating.
  • This year we are supporting a charity and a portion of the proceeds will be given to  Tomy’s pioneering studies for prevention of babies born asleep: https://www.tommys.org/
  • We will give away 5 FREE tickets for single-parent Amazon sellers. If you know anyone please get in touch to get the details.
  • Confirmed speakers and more to come:
    • Brandon Young
    • Dr Yev Marusenko
    • Destaney Wishon
    • Zack Franklin
    • Nadine Schöpper
    • Liran Hirschkorn
    • Ivelin Demirov 
    • Dr Ellis Whitehead
    • Paul Harvey 
    • And yours truly, Danny McMillan. I will be hosting the show and speaking on a topic.

Buy Tickets HERE http://bit.ly/ssl2020uk

Don’t just take our word for it…

Michele Venton
💬“The first of its kind!”

Steve Consalvi
💬“Best seller event so far!”

James Cissel
💬“Insightful and actionable”

Ott Kraut
💬“Fresh insights. Generous sellers. Recommended!”

Andrew Tainton
💬‘This incredible event was run by mad scientists to create mad sales’

Scott Gallacher
💬“Every session provided at least 3 high value, actionable strategies.

Paul Nicoll
💬”Quality Actionable Content”

Simon Booth
💬“Professional high-level informed learning community”

Steve Kong
💬“Informative, enjoyable, bring on next year”

Mark Jennings
💬“A day and night to remember!”

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