E119: Under the Hood with Cory Stout Part 2 – Finding an Exit StrategyFebruary 9, 2018 in Ecom-Crew-Podcast
In Part 1, Cory and I talked about his business, Woodies, and the SAAS subscriptions he has racked up in running his business. We went through his SAAS subscriptions and evaluated whether or not he should hold on to some of them and let go of the others. Since he has quite a long list, we continue to talk about the rest of the services he uses in the first part of this episode.
Cory then talks about an impending threat to this business: Chinese sellers. This is a problem we’ve seen more and more of and talked about extensively last year. The good thing is that there are many things Chinese sellers still can’t do to get ahead, but we believe that it’s only a matter of time before they swamp Amazon and the platform will be too small for everyone to thrive in. With that in mind, Cory and I discuss a topic that might actually be difficult to talk about–selling his business.
Here’s an overview of everything that we discuss:
- Sending traffic to Amazon from his website
- How real the threat of Chinese sellers coming to dominate Amazon is
- Strategies to win against Chinese sellers
- Exit strategy advice
- Ways to maximize the value of his business in case he decides to sell it
This has been a very interesting conversation with Cory. He definitely has his head on the right track, being quite young, and running a million-dollar business while traveling the world. He might have to consider an exit strategy for his business, but with his proven track record, finding success on a new business is something he can absolutely do.
Thanks for listening to this episode and I hope you enjoyed it as much as I did recording it. Until next week, happy selling!
Michael started his first business when he was 18 and is a serial entrepreneur. He got his start in the online world way back in 2004 as an affiliate marketer. From there he grew as an SEO expert and has transitioned into ecommerce, running several sites that bring in a total of 7-figures of revenue each year.