Everything You Need To Know About Selling Your Amazon Business
One of the first things you need to do is make sure you’re developing your business under a corporate structure.
It could be an LLC. It could be a corporation. But you want to have that entity in place. And you also want to treat it like a real business. Make sure all your business related bills are going to the corporation. Make sure you have insurance for the corporation. Make sure you have separate bank accounts for the corporation and even credit cards. You want to build up as much as possible in the corporate name so that the business itself has value as opposed to the value being your own interaction.
The 2nd thing you should do to build a business into something you could sell is develop intellectual property rights.
Get your trademark. File for copyright. These things are what builds value in an Amazon based business. Develop your private label products. Make sure that you build something that you own, not that Amazon owns, but intellectual property rights that belong to the business.
The 3rd thing I want you to focus on in building your business so you can sell it in the future is diversity.
Diversify the sourcing, where you’re getting your products from, and also diversify where you’re selling your products. Amazon for the near future is going to be the elephant in the room, the Goliath. It will account for 90-95% of your sales, but that doesn’t mean you shouldn’t diversify. Open up an eBay account. Get on Newegg. Get on Walmart. Make sure that even if the streams of revenue are small compared to Amazon, that you are developing diversity in your revenue stream. This is how you build a business that you can sell.
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