Archive.fm

Honest Ecommerce

150 | The Fatal Error When Selling Your Business | with Thomas Smale

On this podcast, we talk about the 3 main types of people who buy websites, the 3 types of websites that FE International is interested in buying, why you should be careful in listening to growth advice, and so much more!
Broadcast on:
06 Dec 2021

Thomas Smale is the Founder and CEO of FE International. He is a serial business entrepreneur and M&A expert, having built the industry-leading firm in the $1-100M global technology sector. 

With experience dating back to the early 2000s, Smale offers invaluable technical, diligence and negotiation advice to early-stage and seasoned business owners alike, which has resulted in over 1,000 successful exits. 

Smale can be regularly found speaking at industry events where he enjoys meeting like-minded entrepreneurs and investors. 

Alongside his duties at FE International, Smale is a sought-after author and keynote presenter for leading industry events worldwide. 

He has been interviewed on top podcasts and blogs on a variety of topics, including business strategy, buying and selling businesses, negotiation tactics and more. 

He writes a business column regularly on entrepreneurship, growth, and business management for Entrepenur.com and is a Young Entrepreneurs’ Council member. 

In This Conversation We Discuss: 

  • [00:00] Intro
  • [01:19] Thomas’ backstory
  • [04:54] Reasons to buy or sell websites
  • [06:25] 3 main buyer groups for websites
  • [08:15] 3 types of websites that FE Intl buys 
  • [12:30] Setting up for selling your business
  • [15:31] What makes FE Intl different
  • [17:15] Sponsor: Electric Eye electriceye.io
  • [17:35] Sponsor: Mesa apps.shopify.com/mesa
  • [18:19] Sponsor: Gorgias gorgias.grsm.io/honest
  • [19:46] Sponsor: Rewind rewind.io/honest
  • [20:18] Sponsor: Klaviyo klaviyo.com/honest
  • [21:06] Best practices for selling your website
  • [22:23] Don’t sell your business when it’s declining
  • [23:44] It’s easier to sell businesses now
  • [25:30] Write down your processes
  • [25:58] Consider an evergreen business industry
  • [28:56] Does FE Intl help buyers?
  • [29:55] Be careful in choosing advice
  • [31:40] Should you raise money?
  • [32:20] Consider your future early on
  • [33:59] Where to find Thomas and FE International

Resources:

If you’re enjoying the show, we’d love it if you left Honest Ecommerce a review on Apple Podcasts. It makes a huge impact on the success of the podcast, and we love reading every one of your reviews!

On this podcast, we talk about the 3 main types of people who buy websites, the 3 types of websites that FE International is interested in buying, why you should be careful in listening to growth advice, and so much more!