The Looming Crisis and Shining Opportunity for E-commerce Entrepreneurs With Greg Elfrink [Ep. 61]
The online business world is notoriously fast-paced, so it’s often difficult for digital entrepreneurs to stay up-to-date on industry trends. We hear phrases like “supply chain crisis” and “Amazon product launch changes” mentioned in the news, but how will these industry changes affect you?
Our very own Greg Elfrink, Empire Flippers’ Director of Marketing, has the answers you’re looking for! After having deeply immersed himself in the online business world for the past 5 years, Greg knows the ins and outs of the online business world.
Greg joins us to discuss the positives and negatives of the current state of the industry and why sellers need to pay attention to the market. He walks us through the impact that the looming supply chain crisis could have on e-commerce businesses and the best ways for buyers and sellers to navigate the tough times ahead.
Greg explains why the market is perfect for exits, and how sellers can get a jump on their competition by cutting the queue and selling their businesses before the new year.
Listen to The Opportunity Podcast Episode #61
Topics Discussed in this episode:
- How the industry has changed over the last year (04:19)
- The benefits of using a broker to sell your business (08:07)
- The looming supply chain crisis (13:36)
- Why supply chain fears keep successful eCommerce entrepreneurs up at night (16:00)
- The impact of the Chinese Lunar New Year on the eCommerce supply chain (19:28)
- What steps can entrepreneurs take to navigate supply chain problems? (22:54)
- The good news for business owners who are not ready to sell (23:50)
- The dangers of waiting for the “right time” to sell your business (26:00)
- Strategies that sellers can use to make a lucrative exit (30:02)
- Amazon product launch changes and the ripple effects this may have (38:50)
- Why there has never been a better time to sell your online business (45:47)
Sit back, grab a coffee, and get up-to-date insights on how to use the current state of the online business industry to your advantage!