Recently, I was very fortunate to have the chance to chat with Gregory Elfrink from Empire Flippers — Buy, Sell & Invest In Online Businesses about buying and selling eCommerce businesses. It was awesome. And since I appreciate that not everybody has the time to listen to an hour exchange (on my podcast), I had to summarise some of the 'greatest hits' for my network. Here are my top 5 takeaways from the episode below. There are a bunch more, so if you're into eCommerce, you have to listen or look through the full episode on my website. Benjamin Boman . com

1. 5 KEY THINGS I
LEARNED ABOUT
BUYING AND
SELLING
ECOMMERCE
WEBSITES
@benjaminboman_

2. from Greg Elfrink
from Empire
Flippers
@benjaminboman_

3. Use a 3-phase due
diligence process.
A quick checklist to knock out poor fit
prospects
A deep dive due-diligence checklist. Look
at P&L, GA, etc
Ask strategic questions, understand
performance, mistakes, and issues
1.
2.
3.
@benjaminboman_

4. Evaluate more
businesses than
you're used to.
This will help you get a feel for what is common
and unusual. When the time comes to deeply
investigate your target business, you'll have a
better feel of what to look out for.
@empireflippers

5. Develop a
3-person team to get
your time back.
A team of a marketer, customer service/logistics
person, and brand manager is the MVP lifestyle
eCommerce team and will help get your time
back.
@benjaminboman_

6. Don't downplay your
business flaws or
mistakes.
Knowing that you are weak in an area, say PPC,
can make you more attractive to buyers who
have access to these skill sets.
@benjaminboman_

7. A good operator
keeps 3 questions
front of mind.
What are we doing that can
be automated?
How can I apply processes to
this?
How can I better apply people?
1.
2.
3.
@benjaminboman_

8. Read the article or listen to
the podcast episode.
There's more