How To Sell Your Online Business With Jason Yelowitz!
I love membership websites and I love SELLING membership websites - today’s guest is Jason Yelowitz, the guy that helped me sell one of my first membership websites for 7-figures!
Quiet Light is where Jason is the best in the business at selling subscription and membership-based businesses!
Today, Jason goes into the process of selling your membership business and why you should! If you’re just starting out - Jason tells you what you can do form the beginning to make it a business that would be attractive to buyers if you ever decided to sell!
Show Notes
Jason Yelowitz says the #1 thing to do in your business is to make it easily transferable.
- Transferability: Present a clear, easily transferable system. The business should be turn-key. Ready to hand off.
Know your metrics.
Spend the time, money and elbow grease to go backwards and separate everything out! The more buyers there are, the more pressure you have, and the more money you get back out of the business!
Why Do People Sell Their Businesses? (25:00)
Jason says this is different for every person and there’s no right or wrong answer. A couple reasons may be:
- Someone wants a bunch of money in their pocket.
- Have an exit on their resume.
- You could be burnt out and ready to move forward.
- Wanting to leverage your ideas into something bigger.
Do Buyers Favor A Team? (32:00)
Jason says this has more to do with a transferability. Businesses are easier to sell when the entrepreneur is working ON in the business not IN the business.
The buyer doesn’t want to buy a job, they want to buy a business!
What Can I Do To Help Get This Business Sold? (37:00)
You need to have a few things:
- Know their metrics
- Make it transferable.
- Have good book-keeping.
Here’s the part nobody wants to hear.. stop cheating on your taxes! The tax returns become important in the diligence process.
Jason said there’s a few more things you should start doing right now:
- Stop using “buzz words.”
The Empty Nest. (51:00)
It’s okay and totally normal to feel a little bit of an emptiness when you sell this business.
You go from all kinds of business and chaos, to quiet.
90%+ percent of the time people are super happy that they sold when they did! There is a reason you made the call to sell in the first place.
That emptiness leaves room for you to open new doors!
Connect with Jason!
