30+ experts on the future of crypto & NFTs, 5 key lessons for FBA owners, acquiring for growth, stealing ideas and much more below.
Hi there, 👋 The weekend was packed with so many sporting - and other - events that we didn't know where to look first (sorry, England). Congrats to Sir Richard Branson for finally achieving his dream of getting to space. (We're watching you, Jeff) In today's newsletter, we focus on selling your online business and the necessary steps to speed up the process. We also cover:
5 key lessons for FBA owners (who want to sell)
How seller financing can help you buy or sell
Acquiring businesses for strategic growth
If you're building a community, then you'll enjoy the tool we discovered that helps you keep everything in one place. No more app overwhelm. Plus, we dug out something special for all you developers out there. Hint: This may be the world's biggest storehouse. Skipping the snippets section would be a mistake. We've included a roundup from 30+ experts on the future of bitcoin, crypto, and NFTs, as well as a story about 5 companies that blatantly copied a product and succeeded. As always, thanks for being here. Read on and enjoy. P.S. Please support our brand new sponsor. They get results. P.P.S. Due to popular demand, Travis will be back with a new story for you soon.
Sell Your Online Business Faster
For many owners there comes a point at which it makes sense to move equity out of your business to diversify your investments. Selling your business is a great way to free up capital to invest elsewhere. Sometimes, this may mean using your funds to purchase several smaller businesses or to diversify across a range of alternative assets. Selling your online business might feel like a daunting prospect - especially the first time. There are numerous factors to consider if you want your business to be well-positioned for a quick sale. This article from QuietLight addresses several of the core questions of selling your business, including negotiation timelines, reasons you should or should not sell, and how the size of the deal affects the closing timeline. Read on to see the key steps within your control that can help you quickly sell your business. You may also be interested in their advice on seller financing and whether it makes sense for you to offer this deal structure to a buyer.
No Slowing Down
The market for non-fungible tokens (NFTs) surged to new highs in the second quarter, with $2.5 billion in sales so far this year. This is up from just $13.7 million in the first half of 2020, marketplace data showed. Monthly sales volumes on OpenSea, a major NFT marketplace, reached a record high in June.
5 Key Lessons for FBA Owners
Thomas Smale is the founder of FE International. Smale has overseen over $100 million in Amazon FBA exits and acquisitions and he recently shared his best tips to set yourself up for an exit. He covers the importance of documentation, saying: "I know from experience that buyers will pay a premium price for a well-documented business, rather than one that has no standard operating procedures (SOPs) in place." Smale also notes that scalable, evergreen businesses are in high demand and bring in top dollar. His opinion on exit timing is reflected in the current activity within the e-commerce space. A sustained period of growth, together with proposals to increase the capital gains tax (in the US) mean that now may be the optimal time to exit. Even if you're not considering an imminent sale, it's best to get started early on his advice. You will make your business more attractive for a buyer down the road. Side note: You might also be interested in Thrasio's latest moves. They've hired Amazon veteran Georg Hesse to take on the UK and German markets.
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Building a Community?
Garnet aims to keep your community together - in one place. They've removed the need to switch between multiple apps by combining chat, video, games, events, and icebreakers. It's easy to create rooms and drag in any audio, video, and text chat features you want. Here's what you could do with Garnet:
Hold fireside chats: Every room comes complete with hand-raising, Q&A and a virtual stage
Run courses: Connect with students and let them share with each other in a community
Use dynamic chat: Add chat to enhance a video/audio room or make it a standalone chat room
Conduct an icebreaker event: Pair guests with question cards to bring people closer
Acquisitions can be a critical part of a company’s strategic growth. They may help you expand your business geographically, add new skills and capabilities to your existing team, grow technology offerings and, in many cases, exponentially increase your market presence. But, a successful acquisition doesn't come without challenges. Marilyn Tyfting should know. As Chief Corporate Officer of Telus International, Tyfting has been involved in numerous strategic acquisitions over the past decade. In an article for Forbes, Tyfting outlines four things to keep in mind when considering an acquisition. She discusses going beyond the financials and client lists to truly understand the company culture and values. One factor requiring close scrutiny is the pros and cons of a new market. The predicted benefits of an acquisition opportunity need to be weighed against the complexities of entering a new market. Tyfting advises always having an active funnel of potential investments. Here's one thought-provoking quote from the article: "...the key to getting value from an acquisition often means tapping into a market before it becomes mainstream."
👉 From Domains to NFTs Alan Dunn is a long-time domain investor and broker. Now, he is entering the NFT space. He recently posted this Twitter thread explaining why his focus has shifted from domain names to NFTs for personal investments.
👉 Behind the Scenes Paul Nicks is the VP & GM of Aftermarket at GoDaddy. Nicks is in charge of one of the most important aftermarket sites for domain investors. In his brief interview with Raymond Hackney (TLD Investors), he shared his thoughts on Huge Domains, Api access, Afternic fast transfer and other insights. On people's belief that Huge Domains has an unfair advantage when participating in expired auctions, Nicks says: The simple fact is that in an auction setting the highest bidder will always win. Full interview.
Code House is the all in one storehouse for developer cheatsheets. The site contains 300+ curated cheatsheets from 230+ sources. All cheatsheets are reviewed by the community and you can submit your own to be listed as a contributor.
Simon Chamorro has a radical idea for cryptocurrency. His startup, Valiu, uses blockchain to offer digital exchange in the hopes of protecting fellow Venezuelans from hyperinflation. If the experiment succeeds, it could be a template for struggling economies everywhere.
✅ Snippets to Send You on Your Way
🔷 Why entrepreneurs fail - according to Paul Graham. In his essays and speeches, Graham warns about the numerous causes of failure. Nabil Alouani compiled a summary of the12 reasons why entrepreneurs fail. Go all in! 🔷 The future of bitcoin, cryptocurrency, and NFTs: Fast Company asked 30+ venture capitalists, security experts, futurists, startup founders, and others for their thoughts on the likely trajectory of these assets. Here's what they said. 🔷 Stealing ideas: Sometimes imitation may be better than innovation. Take a look at 5 companies that blatantly copied a product and succeeded. 🔷 Is your business scalable? Whether or not your business is scalable is the first and most important question to ask because that’s what a potential investor will ask. Investors also check your track record and performance to determine whether or not they’ll invest in your business. See what else matters to equity investors. 🔷 Branching out: London-based hedge fund Marshall Wace, which manages USD 55B in assets, is planning to start investing in areas such as digital currencies, stablecoins, blockchain, and payments, while crypto trading might come next, the Financial Times reported.
There wasn’t a dedicated space for entrepreneurial investors like us… so we created one. Join over 200 members interested in digital asset & start-up discussions, plus deal-flow. All in our paid community. 🎉
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