The Fatal Error When Selling Your Business | Thomas Smale | FE International
On this podcast, we talk about the 3 main types of people who buy websites, the 3 types of websites that FE International is interested in buying, why you should be careful in listening to growth advice, and so much more!
Honest Ecommerce · Chase Clymer with Thomas Smale
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Show Notes
Thomas Smale is the Founder and CEO of FE International. He is a serial business entrepreneur and M&A expert, having built the industry-leading firm in the $1-100M global technology sector.
With experience dating back to the early 2000s, Smale offers invaluable technical, diligence and negotiation advice to early-stage and seasoned business owners alike, which has resulted in over 1,000 successful exits.
Smale can be regularly found speaking at industry events where he enjoys meeting like-minded entrepreneurs and investors.
Alongside his duties at FE International, Smale is a sought-after author and keynote presenter for leading industry events worldwide.
He has been interviewed on top podcasts and blogs on a variety of topics, including business strategy, buying and selling businesses, negotiation tactics and more.
He writes a business column regularly on entrepreneurship, growth, and business management for Entrepenur.com and is a Young Entrepreneurs’ Council member.
In This Conversation We Discuss:
- [00:00] Intro
- [01:19] Thomas’ backstory
- [04:54] Reasons to buy or sell websites
- [06:25] 3 main buyer groups for websites
- [08:15] 3 types of websites that FE Intl buys
- [12:30] Setting up for selling your business
- [15:31] What makes FE Intl different
- [17:15] Sponsor: Electric Eye electriceye.io
- [17:35] Sponsor: Mesa apps.shopify.com/mesa
- [18:19] Sponsor: Gorgias gorgias.grsm.io/honest
- [19:46] Sponsor: Rewind rewind.io/honest
- [20:18] Sponsor: Klaviyo klaviyo.com/honest
- [21:06] Best practices for selling your website
- [22:23] Don’t sell your business when it’s declining
- [23:44] It’s easier to sell businesses now
- [25:30] Write down your processes
- [25:58] Consider an evergreen business industry
- [28:56] Does FE Intl help buyers?
- [29:55] Be careful in choosing advice
- [31:40] Should you raise money?
- [32:20] Consider your future early on
- [33:59] Where to find Thomas and FE International
Resources:
- Connect with Thomas @ThomasSmale linkedin.com/in/thomassmale
- Sell your online business with a Professional M&A Advisor you can trust feinternational.com
- Get a free valuation of your website feinternational.com/sell-your-website
- Scale your business with electriceye.io
- Download Mesa at the Shopify App Store apps.shopify.com/mesa
- Level up your customer support gorgias.grsm.io/honest
- Respond to any of Rewind’s welcome emails and mention HONEST ECOMMERCE to get 1 month free rewind.io/honest
- Get started with a free account at klaviyo.com/honest
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