How To Buy A Business And Make Money Online (Part 2)

In this episode of the Millionaire Mindcast, we have Nate Lind who shares wisdom on his journey of buying businesses and making money online, when is the best and worst time to sell your business, business valuation analyses, and the buyer and seller due diligence!

Nate Lind is Tech and Internet eCommerce Business Broker with over 9 Years of product-based eCommerce experience and sells companies like Realtors sell homes, business advisor, and owner of Website Closers, the biggest marketplace selling $1m to $150m dollar online businesses. He also wrote the book, “Maximum Exit”, and helps people interested in buying or selling online businesses get the transactions done without struggling with the listing, due diligence or closing process.

Nate has launched 23 supplement and eCommerce brands grossing over a million dollars each since 2011. Nine of which sold over $10m worldwide. One of those brands was the largest beard grooming brand in the world - Beard Czar with over $35m in sales. He also created a reporting program that analyzed the profit of subscription customers and self-sold it to a strategic partner in 2016 who incorporated it into their platform where it became the key selling feature of the CRM. Moreover, he represents both buyers and sellers of Ecommerce Brands, Amazon Brands, Website Properties, Product Manufacturers, App Developers, SAAS, Subscription Based, SEO/PPC/Paid Media Marketing Agencies, and Portfolio Brands.

He started with a small business in the lower middle market and got successful in his e-commerce, tech, digital, games, and apps businesses with very small competitors. Nate loves networking with people, working with entrepreneurs and helping them with their journey. His world is selling online businesses while crafting and curating the lifestyle he wants!

Some Questions I Ask:

Why did you guys decide to focus in the online world and really where do you see the opportunities in that space?

How have you guys really separated yourself from all the other platforms that are out there?

What do you see most of the opportunities right now and are you in the game or why not?

What are the most passive businesses you see come across your plate that have strong operating cash flow, and labor-intensive ones that you see?

How should buyers and sellers be thinking of valuing their business?

With a buyer and their due diligence, what are some of the things that they should be digging into, and for the seller to understand where the value is or how to build it?

What are some of the traditional ways and outside of the box and creative ways that you’re seeing that could be structured in a purchase?

What is the overall landscape in your perspective based on the trajectory of the economy, where interest rates are at, and in general from the buyers and sellers’ perspective?

How do the buyers discern good and bad debts in the Balance Sheet, and how do you coach buyers through that?

If you’re given $1 million bucks today, where does Nate go and invest that money?

In This Episode, You Will Learn:

The opportunities in selling, buying, and brokerage sides.

The three levels of business evaluation.

Financing small businesses in domestic and international lower middle markets..

Quotes:

“The best time to sell is when you don’t need to, the worst time to sell is when the businesses are declining.”

‘Cashflow is a king.”

Resources Mentioned:

Flippa

Microacquire