Should you close your business or should you sell?

In this episode, Kerrie discusses the option of selling your business instead of closing it. She shares the story of a friend who closed her e-commerce store and explains why she believes selling is a better option. Kerrie emphasizes the value of the assets and systems you have built in your business and how they can be attractive to potential buyers. She also provides resources for selling your business and encourages starting a business with the intent to sell. Kerrie concludes by discussing the benefits of selling starter businesses and reiterating the importance of owning your own platform.

 

Takeaways

 

Consider selling your business instead of closing it, as someone may be interested in buying it.

Assets like social media accounts, email lists, and customer reviews can make your business attractive to buyers.

Shopify is a valuable platform for selling your business, as you have control over your own website and traffic.

Starting a business with the intent to sell can be a strategic approach.

Flippa.com, BizBuySell, and EmpireFlippers.com are resources for selling your business.

Selling starter businesses can be a lucrative opportunity.

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Chapters

 

00:00 Introduction

00:32 The Story of a Friend Closing Her E-commerce Store

01:53 The Option of Selling Your Business

04:21 Closing vs Selling Your Business

07:33 Selling Your Business on Shopify

10:16 Starting a Business with the Intent to Sell

14:46 Resources for Selling Your Business

17:00 Closing Your Business

19:16 Selling Starter Businesses

25:56 Closing Thoughts