Thomas Smale co-founded FE International in 2010. It is now the world’s largest website brokerage focused on eCommerce, SaaS, and content websites! Thomas is joining me today to discuss “Buy or Build” – if you’re not yet in eCommerce should you start you own business, or buy an existing one?
This is the fourth of our ‘2017 eCommerce Growth Series Sponsored by Veeqo the Number 1 Inventory Software’. The series will be running throughout January and is packed with insight and advice to help you make 2017 your best year yet. Find the full series here.
About the business
- FE International has nearly twenty employees and multi millions in revenue
- They have buyers and sellers worldwide
- They have offices in London, Thailand, and Boston
Listen to hear how FE International grew to a worldwide company with three offices.
Buy or Build?
If someone was looking to go into eCommerce, should they buy an existing company or build their own?
- Buying is restricted by cash, but is more guaranteed to work
- Building is more passion-specific but has less guarantee that the idea will work or have a market
Listen to hear more details and to hear how different personality types may prefer buying or selling.
Establish that your budget can get you what you need. If you are actively looking to buy, then work with people who are actively selling by signing up for multiple brokerage sites. Sites such as Reddit and Flippa may also help.
Listen to learn about Seller Discretionary calculations.
eCommerce Book Top Tip
- The Tipping Point by Malcolm Gladwell
eCommerce Traffic Top Tip
- Instagram influence and outreach
You can hear about all this on the podcast, for free – right now…
Tool Top Tip
- Hipchat for internal instant messaging and collaboration
Start Up Top Tip
- Start it in the first place.