Sprint to Profit
Ep.24 How to Scale Your Business to Make It More Valuable to a Buyer with Coran Woodmass
Welcome back to the Sprint to Profit podcast. Today we have a special guest. Coran Woodmass the founder of The FBA Broker, a leading broker company that works with entrepreneurs to sell their business for their best exit and also works with entrepreneurs to acquire businesses to grow their portfolio or to just get in the game. Coran is also a little bit of a nomad and world traveller.
Today we’re going to talk about what Coran does, Coran’s advice for new entrepreneurs, what to think about when planning your exit strategy, and things you can do to increase the value of your business.
If you liked what you heard today on the show, please make sure to hit the subscribe button so you can get updated when we post new episodes. Please share this episode with others who might get value out of it as well. We wish you the best for you and your business.
To get some FREE training on what it takes to have a successful business to fuel your lifestyle, head to www.goteamreal.com to download our FREE training today.
Talking Points:
- 00:20 - Hello and Welcome
- 01:35 - Coran’s background and story
- 07:08 - How do buyers value a business? And Important things that increase the value of a business
- 14:06 - The MAIN 2 or 3 important concepts that Amazon sellers need to get when thinking about selling and/or setting their business up for sale
- 23:15 - When is the best time to sell your Amazon business?
- 24:50 - How do solo-prenuers manage their time for their intended timeline?
- 32:55 - Growth strategy and what that could look like to increase income and value of the business
- 45:00 - Common mistakes that Amazon sellers tend to make
- 51:43 - More about the FBA Broker and how to reach Coran
- 52:30 - Summary and Conclusion
Resources/Links:
Abraham, Amazon books: https://www.amazon.com/Jay-Abraham/e/B001IR1EXG
The FBA Broker website: https://thefbabroker.com/
Double Your Exit Facebook Group: https://www.facebook.com/groups/doubleyourexitcommunity/?source_id=260960637592935
Our Website: https://www.goteamreal.com/
Real Amazon Seller Facebook Group: https://www.facebook.com/groups/AmazonSellerRoundTable/
Quotes:
04:45 – “What I realized was that the buyer demand was there and the reason why the buyer demand was there was because it’s a real product. You can hold it, you can touch it. It’s a real thing.” – Coran Woodmass
11:26 – “If you have a focused brand and you know your target customer is, there’s a good chance that a bigger company wants that target market.” – Coran Woodmass
12:44 – “The buyers always want to buy a growing business because they want to get paid back quicker. They want a faster ROI on that capital.” - Coran Woodmass
45:40 – “It’s going to take time for you to make [your business] profitable. No matter what you do, it’s going to take time.” - Coran Woodmass
Brought to you by Kirsty Verity and Isaac Kuhlman of Sprint to Profit
