A transferable Amazon business is one that is able to run successfully without you. It’s a business that continues to have value and run smoothly in the event of your departure.
In other words, you can easily transfer its systems over to the next owner without too much hassle. They can just buy your business, take it over – and keep on making a success of it.
All buyers are on the lookout for transferable businesses. In this article, we’ll be taking a look at the ways in which you can make your Amazon business more transferable.
Imagine if only you knew the “secret sauce” that kept your business running successfully?
You could keep it to yourself, but that would diminish its transferable value. In reality, you’d be playing yourself.
If you truly care about your business and your employees, any secret knowledge you have that’s helped your business rise to the top over the years should be knowledge you’re willing to share with the new owners and your employees.
It might be the case that some of your employees want to follow you out of the exit door. That’s totally cool – they can do what they want.
And maybe you want to take one or two with you. Okay – great.
But it would be hugely beneficial if you persuaded – maybe incentivised? – some of them stick around in order to help smooth over the transition period.
Buyers would greatly appreciate being able to work alongside some of your best employees who can “show them the ropes” and help them buy into your company culture and get a feel for how your systems work.
Some Amazon businesses are an actual brand, some aren’t.
The ones that aren’t are solely dependent on Amazon for their sales and success. There’s nothing to set them apart from the competition, and no reason why customers would stay loyal to them.
To increase the transferable value of your business, it’s a smart idea (if you haven’t already) to tighten up your branding. Create an entire brand that’s able to continue after you’ve left the company.
This might mean – just throwing this out here – that you have to remove your name from your branding if it’s already on there. That sort of thing will need to be tweaked before you move on.
Lastly, a business isn’t transferable if its supply chain is weak.
A strong supply chain is one in which there’s a strong relationship between the vendors and the merchant. If you haven’t even got a relationship so-to-speak with your vendors, it’s worth strengthening one before you sell-up. This will allow a new owner to come in and continue where you left off, and it also means that any deals your business was benefiting from will remain in place.
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