Show notes
Are you ready to strategically enter and exit the e-commerce game to maximize profits? The only desirable outcome for an E-commerce business is a lucrative exit and today’s guest teaches you exactly how to execute the perfect business plan with the end in mind. Gamal Codner is the founder of Fresh Heritage, a personal care company inspired by African grooming traditions. In this episode, Gamal shares the true purpose behind that business and how he planned his exit before his launch.
Selling a high-end specialty product that averaged sales $20 above similar products, Gamal knew he would be able to sell his business within 3-5 years. By modeling after successful e-commerce moguls like Amazon, Gamal cultivated a company with superior value that could run on autopilot and was ready for acquisition.
Business cannot be tied to ego, the most famous entrepreneurs do not own 100% of their business because equity is the quickest path to substantial wealth! Many people believe selling your company means selling out but exiting your company is a strategic maneuver that will build relationships, wealth and help you move on to bigger and more profitable ventures.
If you want to become a master of E-Commerce strategy, listen now!
Want to keep up with Gamal Codner? Find details here:
► Website:Codner.co
► Courses:Exit Blueprint Mastermind
► Instagram:@gamalcodner
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KEY TAKEAWAYS
[00:00:00] In E-commerce the only desirable outcome is to exit
[00:02:10] Starting with the end in mind
[00:03:15] The dichotomy of the external and internal purpose of your company
[00:04:00] Creating strategic value based off your unique scalable skills
[00:5:40] The easiest way to build wealth is through liquidity
[00:06:40] If you’re company can’t run on autopilot it is not a sellable business
[00:08:30} The misconception that selling means you’re selling out
[00:10:30]Understanding revenue, cashflow, and profit
[00:12:00] Without solving the cash flow problem first you can’t scale and grow
[00:18:00] Rich people rarely own 100% of any of their assets
[00:19:45] Partnering with a strategic investor who has relationships, experience, and money
[00:21:15] If you’re under 6 figures focus on solving problems for specific people
[00:25:30] If something is working, double down and do it more efficiently
[00:29:40] Be aware of the changes in the world that affect your business
[00:33:00] Think big about what is possible and subdue your limiting beliefs
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