E235: How to Buy and Manage Multiple Businesses with Little MoneyMarch 28, 2019 in Ecom-Crew-Podcast
When Shakil Prasla graduated with an MBA and had no idea what to do next, he decided to venture into the world of ecommerce.
He bought his first business for $52,000 and made the money back in 6 months. Fast forward to today – he has bought a total of 12 businesses under Pro Click Ventures, with his latest purchase being worth $3 million.
In this episode you’ll learn:
- How to get financing when buying ecommerce businesses
- How to earn a seller’s trust and get seller financing
- What to look for when buying a business
- The importance of being like a detective when doing due diligence
- How to hire a CEO to manage the day to day activities of the business
- The best way to handle the transition from the old owner
- How to handle cash flow while servicing the debt financing and paying the CEO
- Incentives to get the CEO to stay
- Tips for buying ecommerce businesses
Shakil is still buying more businesses and looking for CEOs to manage them. If you want to reach out to him, you can email him at [email protected]
Thanks for listening to this episode! Until the next one, 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.