Scott Deetz is the Founder and CEO of the Northbound Group, a Minneapolis-based financial advisory firm, providing strategic finance, corporate development, and merger and acquisition services to the e-commerce industry. After selling his first business, an eight-figure brand, Scott realized his passion for helping entrepreneurs and companies sell their businesses. Northbound’s 30-plus-members team is dedicated to the firm’s mission of helping e-commerce entrepreneurs achieve life-changing events. Before founding the Northbound Group, Scott was the Owner and CEO of the Amazon business Entrepreneurial Advantage.

In this episode…

When an entrepreneur is ready to sell his or her company, an exit strategy should already be in place. This type of strategy gives the owner the option to liquidate their stake in the business, limit loss, or make a substantial profit. So, if you’re planning to exit your business, what should you be doing now?

Business leader Scott Deetz recommends starting with the following tactics. First, start building a data room today. A data room is simply a series of folders that will allow your potential buyer to get a quick overview of your company. Second, implement strategic financing, which gives you a better understanding of your company’s valuation. Lastly, start organizing your accounting. 

Want to learn more? Tune into this episode of the eComm Breakthrough Podcast where host Josh Hadley welcomes the Founder and CEO of the Northbound Group, Scott Deetz, to discuss actions to take before exiting a business. Scott shares the various types of business exits and buyers, an exit case study, and when it’s time to contact an exit strategist.

Resources mentioned in this episode:

• Josh Hadley on LinkedIn
• eComm Breakthrough Consulting
• eComm Breakthrough Podcast
• Email Josh: [email protected]
• Hadley Designs
• Hadley Designs on Amazon
• Scott Deetz on LinkedIn
• Northbound Group
• Gift from Scott - Email: [email protected]

Special Mention(s):

• Kevin King
• Howard Thai on LinkedIn
• Roland Frasier on LinkedIn
• Good to Great: Why Some Companies Make the Leap and Others Don’t by Jim Collins
• Monday
• Manny Coats on LinkedIn
• Guillermo Puyol on LinkedIn
• Helium 10

Related Episode(s):

• “Kevin King’s Wicked-Smart Tips for Building an Audience of Raving Fans”
• “Mastermind Level Strategies From a Former Top 50 Amazon Seller With Howard Thai”
• “Seven Acquisition Strategies to Scale to Eight Figures and Beyond”