Micheal Jackness, founder of Terran, an e-commerce conglomerate, and EcomCrew podcast, talks about his experience in selling his e-commerce business; the impetus, the preparation and eventual transfer of ownership.

WHAT YOU’LL LEARN

• Background on Terran
• Why Sell?
• Choosing the e-business to sell
• Challenges to a co-mingled business
• Types of Advertising in E-Commerce
• Future plans and Impact of Covid-19

KEY POINTS

1. The need to move on, to relieve the stress caused by running a business is a sure sign that it is time to sell.
2. If one owns several e-businesses, it is best to sell the product that fulfills the selling objective. It could mean selling the best performing brand in order to ensure successful sale.
3. Having clear financial documentation would help in the untangling co-mingled funds in the business.
4. The virus crisis may provide an opportunity to check out good brands of e-businesses you can buy and scale profitability.

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