How To Sell Your Amazon FBA Private Label Business
Are you ready to sell your Amazon FBA Private Label Business?
Today Kris and Dustin are joined by Sarah Dajani from Boosted Commerce to discuss the steps to sell your amazon fba private label business.
Boosted Commerce acquires Amazon Private Label FBA Businesses and helps Sellers get a BIG payday!
Learn more: https://boostedcommerce.com
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How To Sell Your Amazon FBA Private Label Business
– Hello everyone. And welcome to episode 76 of Two Amazon Sellers and a Microphone brought to you by Sellozo. Today Kris and I are excited. We have Sarah Dejani from Boosted Commerce on with us. And Sarah, welcome.
– Thank you, thank you, Dustin. Thanks Kris, really excited about it.
– Happy to join us.
– This is hot right now. There’s a lot of acquisitions going on in the Amazon world right now. And as sellers, it’s a fascinating topic because you know Kris and I, when we started the idea of exiting our business, wasn’t really in our minds, but anybody who’s starting right now, you should be building right from the get-go to sell. So that’s what we wanna dive into and that’s what this is gonna be about. And it’s really exciting. But for everyone listening Sarah, before we get started tell us a little bit about yourself.
– Yeah, sure happy to, I’m Sarah Dejani. I’m VP of operations at Boosted Commerce overseeing the food and some of our supplement brands. I’m part of a really great team that’s, doing a lot of hard work on Amazon. We’re comprised of sellers and former CPG brand experts. My background is a little bit different. I started out my career in actually management consulting. I worked all over the world getting to talk to like companies of all different sizes. Sometimes in tech, sometimes in industrials and in all sorts of countries, it was a great start to my career. And I next sort of settled into the entrepreneurial phase of my career, starting a food business. It was a little bit online, mostly offline. And I was actually making the food myself manufacturing it in the kitchen every day. And then I realized the importance of Amazon and got into that world in small startup brands, doing organic baking mixes and frostings. And then also in bigger brands. I was at a brand owned by Procter and Gamble and the Personal Care and Beauty Space as well. So that’s what’s brought me here to Boosted.
– Okay, I gotta go over a few things real quick ’cause I’m super fascinated by this already. So you started your own food business out of your house and then sold online.
– Yeah, we sold online. I and my business partner we were in London actually. And we were doing pastries selling. We started out selling online. We’re doing like a D to C business. And then we got picked up by a department store called the Harrods which is like a pretty big one in London. And we’re doing that. So this is at the time where, you know, like the worlds of retail and D to C we’re really converging. And so we were launching just during that time and experiencing like the trials and tribulations of both sides of it.
– That’s fascinating. Yeah, instead I can just think now all of the different things you have to work through if you’re selling food through e-commerce. Just in terms of shipping and freshness and all that. Was that through your own website or was that were you selling like Amazon and stuff as well?
– It was through my own website, although I did toy with doing an Amazon business with the supplier abroad as well. And that was one of the things that brought me to Amazon. But it was pretty fresh stuff. We had, you know, short shelf lives. And so, you know, we were in the kitchen a lot baking a lot like 11 hour days on our feet. And so it was definitely challenging. As you all might know, you know, food is a relatively low margin business as well. So, there’s that pressure, you know, on top of it all.
– What kind of food item were you selling, if you know mind sharing.
– We had like eight or nine gourmet products. They were ranged from like cookies to loaf cakes to morangs, which were really fun. ‘Cause morangs are sensitive to humidity. So that was really, really fun to make and deliver. And then, yeah, on the D and C business we also did like eclairs and stuff like that which obviously we’re like, you know, one day shelf life type of thing.
– I’m getting hungry. I absolutely love morang. You brought it up and now that’s all I’m thinking about right now.
– Well, we did stuffed morang. So we had morang that were like stuffed with sesame paste and chocolate and like all sorts of crazy stuff.
– We may just have to talk about this for the rest of the time.
– We need to stop doing these podcasts like one o’clock in the afternoon during lunch. I get so hungry and all
– Yeah, that’s, oh man, it sounds so good. Well, let’s move ahead now in your story. Now, let’s talk a little bit about Boosted Commerce. Just let everyone know sort of what you guys are doing a little bit about just the background of the company and what’s going on with y’all right now.
– Yeah, of course you have Boosted as many people will know is founded by Keith Richmond and Charlie Chanaratsopon who are really two giants in their respective industries. Keith in marketing and a lot of Silicon Valley industries, as well as e-commerce. And Charlie is sort of a retail King in my eyes, having managed a company with, you know more than 5,000 stores and you know, also a lot of employees and teams. They started Boosted. There’s a really cool story about it that I let them share one day but they started Boosted with this idea that, you know a lot of Amazon sellers are popping up and selling these amazing businesses or starting these amazing businesses. And their so scrappy, they’re finding product market fit. And you guys are examples of this, doing the hardest thing finding product market fit by being first to platform and really connecting the dots. It’s like the entrepreneurship of entrepreneurship, right? It’s just really cutting edge. And they recognize that there is a market where a lot of these sellers want to sell their businesses. And there is an opportunity to bring together, you know really smart brand people and grow these into, you know the new kind of Nestle 2.0 of the world with, you know, fifth Avenue, digital, real estate on Amazon.
– Yeah, it is a brand new world, at least for Kris and myself. Like I mentioned at the top of this and you kind of hit it spot on. That is what we do. We find niches and we find underserved areas and we launch products. And from the seller’s perspective, you know, an entrepreneur putting their heart and soul into, you know one or two products or a brand, they can really do things better. I feel like a lot of times when they’re more invested then they Last. So, and then with the scale of Amazon and the scale of e-commerce now, all of a sudden sellers like Kris and I were like, well, we have a real business. Now It was, this was a side hustle and now it’s a real business. And it’s interesting now because for a long time, it wasn’t treated that way. Like investors, weren’t gonna throw money at somebody who they perceived as someone who was throwing products on Amazon to see what stuck. That’s really changed recently. So it’s really neat to see the investors get involved and the aggregators. And just real quick, how do you see that helping the space a lot? ‘Cause a lot of people would get, you know, they’re concerned, others now you’re going to have behemoths out there that you’re competing against. How do you see that evolving in this space?
– Yeah. I mean, you know a lot of people see aggregators, you know, just as these big companies are funds that buy Amazon businesses. And some people probably even think of private equity when they hear about it, which is so funny to me. ‘Cause I actually, you know as a person running businesses at an aggregator, I don’t even know anything about private equity. You know as I mentioned like I’ve started and run my own food businesses for most of my career. And so I think the reason for that really that perception is because we’ve never seen aggregators before. And so we try to fit them into the boxes we know when really they’re a consequence of fundamental change in the retail universe, which you know, I can talk about more, it’s a bit of a long story I’d say.
– I’d love to hear a little bit more about it though, if you can.
– Yeah, yeah of course. So it’s an amazing story. It’s a long one but an amazing one. It fundamentally changed the way that I saw my career and saw my work as an entrepreneur. But you know, historically companies like Nestle and Procter and gamble had consumers’ attention, you know through one thing really, the physical shelf, right? And, you know, yes, they had these big TV ads and brands with huge marketing teams behind them but really if they didn’t own and pay for their spot on the shelf at Target, they wouldn’t have had the customer. So it’s all about owning that physical shelf because that’s where the foot traffic was, which is you know, a metric that we today think of as impressions or glance views. It’s just really foot traffic. And those got weighed into the metrics that they measured like ACV and velocity and all that stuff. And what’s important for us to remember though is that this was the reality for the last 50 years, right? Which meant that it was the reality for most of our lifetimes and we really didn’t know anything different. So when a new company, you know like one of your companies would come and try to launch to sell, you know, cheaper, garbage bags or eco eco-friendly soaps or something like that, they just failed because like without size, they couldn’t get the attention of Targets and Walmart of the world. Which meant they had no physical shelf presence, which meant they were dead on arrival. But then after the turn of the century, the digital shelf appeared. And then two fundamental shifts occurred. First foot traffic became web traffic, right? The impressions in glance views that we’re always looking at on our Amazon PDPs. And second that the flow of that foot traffic became governed first by digital ads, and second by platform search engines. And if you guys are familiar with Ben Thompson Stratechery, he has a great post really delving into the details on this. But, what he essentially says and what that means is that that meant that Google and Amazon then replaced Target and Walmart. And what that also meant was that how much shelf space you took up, wasn’t determined by like have you paid for that shelf space at Target, no. How much shelf space you took up was greatly influenced by your advertising spend both on platform like Amazon PPC and at off platform, Facebook, Instagram, Tick Tok? So going back to the beginning of the story, you know all of a sudden Nestle and the Proctor and Gambles of the world lost their footing. And that not only allowed for new companies who are digitally native and use Facebook ads and Amazons better than anyone else to win, it also allowed sellers like FBA sellers to flourish. And you both know this very well. You know, having gotten on the Amazon platform sellers in 2015, which was relatively early. But you know, today we see a lot of acquisitions happening in the digital space and those digitally native brands that I talked about, who are really good with the Facebook ads and the Shopify websites and all that. They’ve been getting snapped up by the Nestle’s and Procter and Gamble’s of the world because they just wanna learn from these young business owners, right? And we’ve been seeing that for a while, but no one as you guys pointed out, no one was paying attention to the FBA sellers who are not only killing it on Amazon but who are also entrepreneurs who often were looking for exit opportunities. And so that’s where we come in. We’re essentially the Nestle 2.0 of the world it’s how we like to talk about it ’cause we not only see the value of FBA sellers. I mean, many of us are FBA sellers and we see the value in the platform business. And we are their exit opportunity if they want that. And so in that way, our presence has just opened up. I believe this world of opportunity for that scrappy 20 year old entrepreneur and his dog collar business, right? And it creates a great way, a gateway for these naturally talented people to then become serial entrepreneurs or to grow their business alongside us. And we have a program that we’re developing internally to help them do exactly that. So I mean, I really believe that, you know, the reward for being a successful seller on the Amazon should not be that you’re constantly fighting Amazon to protect the business and, you know, listening to every podcast that you can and like staying up at night cause you haven’t launched a video ad yet or whatever. Yeah, I think the reward should be a lucrative exit if you want it, and an entry into the world of best in class entrepreneurship with a company like Boosted
– There’s so many things in there that we could touch on as well. ‘Cause one quick thing is when I was first starting, everyone’s that no one understood what I was doing. Like friends and family. I’m like, yeah, I’m selling on Amazon. They’re like, Oh whatever. They thought I was like an eBay seller or something just selling junk. But I was like, no, it’s like, imagine I can like walk into Walmart and put my products in the middle shelf. That’s like what I’m doing, except I’m not having to make $2 billion orders or fulfill purchase orders. I can just order a few 100 units and put them on there and it’s working. So in that regard, you’re right about that digital shelf. It’s fascinating. What else I think is interesting now is a lot of sellers or Amazon sellers, they are exiting and then they’re starting over again. And they’re able to do it better ’cause they’ve got more capital, they’ve got more knowledge. ‘Cause there’s certainly challenges as you scale as you get bigger and bigger and bigger, it can be tougher. Sometimes it’s smarter to exit, start over build another one. That’s where sort of release for me. I feel like that’s where my skill set and what I have fun doing is more in that, you know the infancy stage, you know, growing and getting it to adulthood and then selling. So it’s really fascinating, but let’s talk about now. So Kris and I, we’re sellers, people who are listening are sellers. If this is our plan now, if we’re either start from scratch and we’re looking to exit or where we are and exiting is now an option, what are some things that sellers need to be doing or thinking or mindset to prepare themselves for an exit?
– Yeah. I mean, I think there are a lot of things. It’s important to think about the lifecycle of your brand of your company and where it’s at. You know, you want it to be at a place where you have demonstrated growth and at the same time demonstrated some stability in your business. And the reason for that is because when you approach a company like Boosted, you know and you start going through for example, our diligence process, you know, we have a big team of people who are looking at your business and trying to understand how it works because it’s your baby, and we wanna make sure that we run it really well. So be prepared to explain all of those things around where you are in the life cycle, what kind of growth you’ve had and why. You know, it could be like stuff around brand registry. It could be stuff around a killer PPC strategy. It could be, you know, you have, I listened to your podcast and it’s a lot of the stuff that you talk about on your podcast, right? Like why your latest new product launch strategy failed, right? I mean, it’s that kind of stuff, you come in and you be prepared to talk about those things and really show that you know your stuff and the reasons why you’ve been able to demonstrate that growth and stability.
– Kris, we’ve got a question that came in from YouTube. Why don’t you pull that up here? ‘Cause she kind of touched on it, but the question is what would be a better way, to grow a business slowly or I’m assuming just focus on really aggressively quickly growing a business for the exit? What is more attractive from the perspective of a Boosted, the acquisition company?
– You know, that question demonstrates to me that whoever asked it is exactly the type of seller that is really interesting to us because if you as a seller, like, should I be growing aggressively? Or, I mean, if you have control over how quickly you can grow, that’s a lot, that says a lot. Most people have no control over that. going back to my days when I was running my food business I had no control over how frequently I got a PO my business, right? So I think the question in itself demonstrates a lot of control and power in your business that in itself is valuable. Now getting into the question itself you know, slow steady growth versus quick growth it depends on your industry, it depends on the number of ACEs you have. It depends on how much PPC spend you put behind it. So you may, for example, I mean, one of frankly, you know, dozens of scenarios could be that you decided that you’re going to, you know put PPC, spend at a Target a cost of 50% and just not worry about margin for the first let’s say three to six months of your product so that you get up to that second, you know second spot on the keyword search results. And then when you’re there, you’ve actually built really good fundamentals on your business in the back end where you have an amazing review based and you’re optimizing your cost of goods sold so that you’re improving your margin over time. And if that’s your story well fantastic, right? Like that quick growth, even at the cost of your margin could be a really good story to bring to an aggregator like Boosted because you’re showing that you’ve thought through why you’re doing that. I needed to secure the first spot. Once I got the first spot, I know I’m gonna stay there because here are my fundamentals, right? Versus another story you may have, you may be breaking into a really big category, for example and you just can’t, you know, use those typical levers of PPC and, and the, you know, the CPC bids may be too high. And so you can’t grow that quickly. You’ve got to kind of chip away and wait to take advantage of opportunities, like when a competitor, you know gets suppressed or something like that to shoot up in the rankings. I mean, there are many situations where both could be legitimate stories.
– One thing I wanna talk about is like what gets Boosted excited? Like when you see a seller account and this is just, you know, just a nice background like we’re launching product and we’re kind of steadily growing and it’s we have ups and downs one day our product is out of stock and then comes back in and there’s just, you know we’re just kind of fighting the good fight, right? Trying those products to re trying to sell 100 of units a day but it’s just kind of slow. I mean, it’s this kind of steady. What gets Boosted tension? Like if I’ve come to you and I’m a seller, and I just got, you know maybe a little bit declining growth then it comes back and it’s not just skyrocket all there at the top but there’s potential there. What is there that you could say, okay we see this account, you know, if we just did a, b and c we could take this account from 50 grand a month in revenue to 100 grand a month just by doing a few things. What are kind of those things?
– Yeah, there’s so much there
– It’s probably for my own good really.
– I mean, I think, you know, I think like going back to the point of like finding product market fit, right? Like if you’re the type of seller who like, like you mentioned, like you’ve had any type of growth by the way it’s gonna have ups and downs. Like never will Boosted look at like a track record with up and downs and be like, Hmm that’s not, no, I mean, that’s this, this, you know. So it’s a very reasonable approach to looking at growth trajectories, but, you know there’s the types of things that we can do. We have, you know this is stuff that we hold close to the chest but we do have at, you know, a list of, of playbooks just like dozens and dozens of playbooks on what you can do to grow brands on Amazon. And I can talk about one that’s not going to be too surprising to you, but like you guys can figure, like I’ve worked as an Amazon manager and for a startup like new DDC company as well as for a Procter and Gamble brand. Well, I have, because of that pretty good idea of how to build a good brand, like from a just a visuals perspective. So let’s say you come to me and you have not put, you just haven’t had the know-how, you’ve gone to 99 designs.com and said we haven’t had the know-how of like how to do that focus group testing, the customer surveys, you know, those customer decision tree studies that costs like 100s of 1000s of dollars to do, right? You haven’t had the resources to invest in all of that. And so if you come to us, you say, well here’s my growth trajectory. It could be that one of the things we look at is we say, yeah, this is a solid business. It has slow, but steady growth, good fundamentals around these, you know, metrics that we look for. And we know that if we come in and revamp the brand and we always do that with the sellers partnership. We never do something like that without getting the go ahead from the seller, even post-sale, right? We’re partners all along. You’re never gonna see something happen to your baby that you’re like, what the hell, right? But if you’re up for it, we can take your brand and revamp it. And that alone, right? With the appropriate listing optimization, will make it take off. And then we’ve also got our other channels, right? That are even off Amazon to pump that brand through and really start building that presence in a way that and this is where it gets like really cool. It’s a way that can build your brand presence that is truly digitally native, truly fifth Avenue real estate, truly the Nestle 2.0 of the world. So that’s just one example of, you know, the dozens of playbooks we have around how to boost the brand. That’s what we call it.
– Something that gets me kind of giddy is like sellers create a brand and then like, fight, you know, stay up all night, you know, just the battle of it. But if you sell to like a Boosted and they take it and what’s after acquisition? Like would I be surprised to see it at a Walmart someday or a Target someday? Like, is that where it’s gonna go? Like, you’re gonna take it to new levels where it’s gonna be in retail or is it just gonna be on Amazon and we’re gonna just stay focused and we’re gonna chop away at Amazon and take our market share. Like, is that conversations that you have with sellers after you acquire them? Or is it just like, you’re here you go. Take it, now it’s on you guys.
– Those are most exciting calls that we have with sellers because we’re, you know, post acquisition, first of all like when they’re going through the sales process, our team that does like some of the acquisitions they are super, super smart people. Some of who might’ve known even personally before joining the company but super smart, really great people. They’re like on texting relationships with the sellers. So they’re like texting back and forth all the time. And they’re buddies, they’re really buddies. And on my side where I along with my colleague drew are running operations. You know, what we do is we have a weekly, you know, the boring stuff the weekly meeting cadences and all of that but it’s really about building the vision. You know, we come to them, we say this is our plan, this is what we’re gonna do. And then we say, can you imagine, right? Three to five years, this milestone this month. And sometimes the milestone is can you imagine seeing your baby on the shelf of Walmart? Right? And that’s where it gets really exciting. And that’s where it’s like that’s the thing that really drives me in this business on the seller relationship side is like, again like you guys, the sellers and you guys and guys are really just like, you’re the pioneers, right? You’re the ones who are fighting. You are the ones who are staying up all night. You’re going up against Amazon, right? Like that’s what your daily life is about. But once you come into the Boosted family, the resources just like balloon, you know, like I said like New York City retail, like, you know Magnets and Silicon Valley Digital Marketing Experts were texting with you, right? And so that’s where it is. And it’s like, Hey, by the way, when you go to start your next business, here’s the story. Here’s the framing of where aggregators sit in the space and here’s how it’s moving and changing. And these are the lenses that you’re seeing happening. And here’s your path forward. As a seller here’s your career forward. And we are totally there to support and help guide that career if it’s appropriate. I mean, some people wanna go sit on a beach and then, so we just send them a bottle of champagne,
– Then they do it again.
– Exactly. Well like go have your champagne, it’s fine. We’ll be here waiting.
– What’s it look like after, like, you know cause I mean, guilty pleasure here, like, it’d be really hard for me just to give something away that I’ve worked years on but I still want to be a part of it. Like I still want to have kind of skin in the game.
– But what type of acquisition is it’s like all or nothing or am I able to give like a percentage every year like creative financing? Like, what’s that look like?
– Yeah, I mean, you know, without getting I can’t share a whole lot of details, but in general I would say it is usually just a purchase of the business, but there are a lot of ways that the seller stays involved. But yeah, I mean, the way that I think about it is like, again, think about it. Like if you’re selling to, you know like a Procter and Gamble or a Nestle or something like that, right? Like usually they’re acquiring the business. They might acquire some of the employees of the business as well, which, you know they usually call like an Aqua hire type of situation, but for the majority of the time we are just buying the businesses outright.
– And what is that timeframe look like? What is that process look like? So if I come to you, we have our initial contact I express interest in selling from that point on until the agreement signed and there’s money in my bank, what is that? what is that look like? How much time does it usually take?
– Yeah, it’s usually, I mean, we pride ourselves on a very quick process. It’s usually 45 days to close. And so yeah, it’s, you know way faster than other industries and, you know, the way it looks like it’s basically a bunch of question and answer sessions, essentially. Yeah, that’s the typical, what would call diligence.
– So there’s a lot of noise in the space. I mean, sellers talk to other sellers and sellers know, like this is going on. Like we know that you gotta spend money, right? You have time to spend the money. And like this year, maybe even into 2022 would be like the prime time is what I’m hearing is like the prime time to get rid of a business and maybe start a new one. It kind of keeps flipping it back and forth. Where do you see it? Like, is that the same? Are you seeing it the same? Like, you know, 2021, 2022, those are gonna be the prime years. You know, we’re gonna look back on this six years from now and be like, remember when multiples were that high. Like is now the time?
– Like, I’ll try to say, you know, I have no clue. It’s just, whenever it gets into predicting the future I just tend to say, I don’t know. And I think we all kind of feel that way after the last, you know, year, right? So I mean, I would just say, I really don’t know. I really don’t know. I agree with you. It’s really exciting. We certainly see those conversations happening between sellers because you know, in a lot of ways we’re part of the seller community too. And so I think all of the excitement speculation is just a sign of how big and quickly growing the category is, you know? I think so. So looking at now, it is exciting. It is really exciting. And the growth is there. I mean, even if you just have your business on Amazon, Amazon is growing so quickly as a platform with so many new customers. If you did nothing and just maintained your space, your business would grow, you know? And so I don’t know what’s gonna happen in the future. I wish I did.
– That leads me to a question I was talking about. If you have a business as just on Amazon, is that almost more attractive to Boosted because there’s growth opportunity. They haven’t already grown into all the other available avenues. Is that better?
– You know, we say that we acquire e-commerce businesses. So the spaces happened to be branded as like an Amazon aggregator space, just because so many of the businesses are so heavy on Amazon and it takes a lot as everyone knows to understand a platform but we are an e-commerce aggregator. So yeah, definitely you know, we always look at other channels and you know, whether for brands coming in or for, you know expanding and growing our existing brands.
– I got something, yeah
– I know you’re ready to go so go.
– So we create relationships with vendors. Like, you know, we create relationships with our manufacturers, we create relationships with our photographers, all these people that make the business like, or listings. You know, we wanna make sure sellers wanna make sure like that’s a seamless process. Like I have a manufacturer I work with and I’ve worked with this manufacturer for years. I hand it over. I wanna make sure you know, I think you understand what I’m saying. We wanna make sure that that is the right way. Like, what’s that look like?
– Yeah, for those listening. And I’m smiling a lot like from the beginning of Kris’s question because we have like a full team dedicated to this and it is completely seamless. And it’s just funny because I just think about it ’cause in the first days of any brand joining our platform, a lot of my time personally is spent on the vendor management and making sure that like I get it right. Like I had my own food business. I know like how important those relationships are. And especially if you wanna start another business later and it’s your reputation as well. I mean, all of that stuff is really, really important. And so we just, you know, we basically try to make it so that the vendors and partners feel as if nothing has happened almost in the business. You know what I mean? Like for moments like you know, they’re still getting paid exactly on time and the way that they want, they’re still getting communications and this at the same cadence, I mean, sometimes even they’re still getting communicated from the same people. It’s super smooth, it’s super smooth. And then it’s always up to seller guidance. I mean, some sellers are like this was the best supplier I could get because I’m not big enough. But that’s the one that I wanted for my business. Then it becomes interesting for them and it becomes wanted, but no we want you guys to actually change that relationship. And then we can go do that. And that falls into that playbook of things that we can do to grow the business.
– That’s really, I mean, what I’m getting from this conversation, which is really it’s great to be getting this feeling is that there’s a relationship going into this. Like if we’re looking to sell and where we’re going with you guys, that all parties are going to be cared about like we’re working as a team to make this the best way to go. ‘Cause that just Kris’s point. Yeah. I mean, you know, my supplier flies out to see me sometimes from China, you know, it’s like I don’t wanna sell and be like, Oh, he’s out. We can find, you know, the cheaper place or whatever like immediately where it’s just ruining that relationship and all the other vendors. So it’s comforting to see that this is the approach and it’s really an intentional approach that’s being taken by you guys to make this process seamless.
– Yeah it’s a big deal like–
– Yeah it is
– Like it’s your supplier that you went out and found and now you negotiated to get a product. They bought the business. And then like, just to like hand that off I mean kind of freaks me out but I’m glad that she can make me feel better.
– Well, yeah, I mean, and just so you Kris and Dustin know, like I told you guys I started out my career in management consulting and I was kind of flying around the world and stuff. I had a food blog at the same time. And I told you, that’s kind of, I’m all about food. And so what I did was I took advantage of like the privilege of being able to go to different countries to speak with entrepreneurs on the ground. And I wrote about it in my blog. And these were all like against small scrappy entrepreneurs. And I wrote up their stories. I think at some point I was writing every single day. And there would be stories about like this guy living in Jordan importing coffee, like really high quality coffee one of the first guys in Jordan to do that. And he would talk about the frustration of importing green coffee beans from this amazing supplier. And then having the customs agents, like hold it on a sunny hot tarmac and have the beans start to roast in the bags before he could get it into his groceries. And those of you love coffee know that this is like catastrophe, right? I mean, I wrote like, I had dozens of interviews like that before even starting my own business. And so like I get it, I know the pain like I’ve lived it, you know like it’s and many of us have Boosted. And so this stuff is like, you know, if your hair would be on fire our hair would be on fire too, right? If you guys couldn’t sleep about it, we probably aren’t sleeping about it either.
– Well, it’s just, it’s so good to know. I mean, it just makes this whole process seem so much smoother, more comforting. It’s like Kris and I said this before, I mean this is your baby when you start a business. You are, yeah, I mean, I’ve got two boys and I’ve got my wife my business. And it’s like, there’s, you love it. You love what you’re doing. And it’s hard to part with, so this is the way it’s taken care of is great. And also, we just really appreciate all this time that you’re spending with us to go over this stuff. And I know we’ve spent a lot of time talking about it but real quick, what would be one thing that you would tell someone who’s looking to exit? Like what’s said that’s so important to make sure you have, in order before you start looking to reach out to aggregators
– Make sure that you understand why you’re selling, really deeply understand why you’re selling and what you want out of the sale. And when you do that research who you’re going to sell to because they’re gonna be your partner. They’re not, it’s so easy to think like these are just, this is a transaction, but it’s not. They are gonna be your partner. So look for the people who you think will get you and who will support you and who will be good partners. So it’s a little bit of a soul search, right? What do I really, really want out of this? And how do I want this to shake my career?
– That’s a great answer. Different, that’s a different answer than I was expecting, or have heard in the past about, you know, that’s totally different than making sure all your accounting is in order or something like that where it is more transactional minded. Yeah, I love that.
– Well we can help all those things, we can help them, all those things, you know. I mean that’s something you know, again it’s one person you’re pioneers in this space you are not expected to be ready to sell to a Procter and Gamble or Nestle. You’re expected to be ready to sell to a Boosted. And we’re your partners in that process. So, I mean, accounting and all that stuff, trust me, we can help.
– That again is also comforting just because that’s a lot I think that would be a nervous point for that. That may be something that I would be concerned about is do I have every, you know have I been doing my accounting exactly the right way you know, for the last seven years to make this look like it’s the right thing to sell? I mean, there’s so many things in this business that you’re not always focused on and you can’t manage it like fortune 500 company or something.
– Of course, well you’re not expected to, you’re not expected to it’s just an unrealistic expectation. Yeah, no, I mean, you know, I always just defer, like to speaking about ourselves but like, we can help with all that stuff. It’s really more about like what do you wanna get out of this? What is your future gonna look like for you as an entrepreneur starting or continuing your career and for your business, which is you know, after being sold to Boosted is gonna go through a pretty cool inflection point. And what do you want that inflection point to end up turning into five years in the future?
– Well said, anybody listening right now, if they would like to get this process started, or if they wanna reach out to you, how do they get started or get in contact with you or Boosted in general, what should they do?
– Feel free, especially if you’re selling a business in the food or ingestible space, feel free to reach out to me directly, Sarah, with an firstname.lastname@example.org or you can go to our website, boostedcommerce.com. And we have a very easy form to fill out to get you started on the process right away.
– Awesome, yeah. Well, I encourage everyone to do that. Anyone who’s in this is thinking about this right now. Definitely reach out to Sarah and the team at Boosted. Sarah, this has been absolutely fantastic to have you on we’ll have to do this again, there’s so much we could dive into so many, like go down different rabbit holes. There’s so much to talk about but this has been absolutely fantastic. And for everybody listening right now, if you like this kind of content, we go live almost every day with the podcast. We live stream it to Facebook, YouTube. You can see all the videos on the Sellozo YouTube page and also make sure you like the Facebook Sellozo page and turn on notifications. So, you know, when we go live with awesome people like Sarah. Also you can always listen to us on the podcast. So whatever podcast platform you use, we are there. So make sure you subscribe to the podcast as well there and leave us a review if you can. An honest review as Amazon sellers are trained to say Leave us an honest review for sure. But reach out to Sarah boostedcommerce.com. And we will be back at this again tomorrow. Thanks everybody, have a great day.
– Thank you.