Congratulations, you've found a potential e-commerce brand acquisition opportunity! Before diving in, it's crucial to showcase your own value as a buyer. Whether you connected through a broker, a cold outreach, or a warm introduction, be prepared to demonstrate your capabilities in a concise and impactful way.



Remember, flexibility is key.



Time Stamp



[00:50] - Introduction To Step Five Of Buying E-commerce Business[02:13] - Six Key Questions For Sellers[02:39] - First Question: Tell Me About Your Business[03:36] - Second Question: What Happens If You're Away For Three Months[04:32] - Third Question: How Do You Market Your Products[04:47] - Fourth Question: Who Are Your Competitors[05:43] - Fifth Question: Why Are You Selling The Business[07:10] - Sixth Question: How Would You Grow The Business[08:10] - Setting Up Next Steps After The Meeting[09:47] - Getting NDA Signed And Requesting Financial Data[10:28] - Recap Of Main Points From The Meeting[11:20] - Importance Of Practice And Role-playing[12:11] - Learning From Sales Pitch Evaluations[13:15] - Reflecting On Experience With A Mentor[13:44] - Offer For Assistance In Business Evaluation And Negotiations[14:27] - Encouragement To Practice And Seek Help If Needed[14:50] - Preview Of Next Topic On Deal Making Psychology



Aiming to Project:




* Safe pair of hands: Reassure the seller you are a responsible and reliable owner.



* Industry experience: Highlight your understanding of the e-commerce landscape.



* Business experience: Demonstrate your track record of successful business management.



* Experienced dealmaker: Showcase your expertise in navigating acquisitions (if applicable).



* Authority: Subtly lead the conversation, demonstrating your seriousness and preparedness.




What to Say in Your Self-Presentation:




* Briefly outline your industry background and expertise in e-commerce.



* Briefly highlight your experience in managing successful businesses, if applicable.



* Mention any relevant dealmaking experience (acquisitions, investments, etc.).



* If you have a strong team or mentor, subtly reference their expertise.




Evaluating the Business (6 Key Questions):



Now that you've established your credentials, it's time to delve deeper into the business. This is not a full due diligence process, but a preliminary assessment to determine if the opportunity aligns with your goals.



Here are 6 Key Questions to Ask (within 6 minutes):




* Open-ended: "Tell me about your business." This opens the dialogue, provides a business overview, and reveals the seller's personality (explored further in the next episode).



* Management: "Who runs the business day-to-day? What happens if you were unable to work for a few months?" This assesses the team structure and potential operational dependencies.



* Marketing: "How do you currently market your products and generate sales?" Understand their customer acquisition strategy and marketing channels.



* Competition: "Who are your main competitors? How do you differentiate from them? And how do they beat you, if at all?" Gauge market positioning and competitive landscape.



* Reason for Sale: "Why are you selling the business?" Identify the seller's motivation, which can impact negotiations and future growth plans.



* Growth Potential: "If you weren't selling, how would you envision growing the business?