Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
Chris Yates
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Top 10 Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites Episodes
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Story 3.2: Should I Sell My Business? With Kelly Shroads (Podcast 035)
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
05/06/16 • 36 min
This is episode 35. Keeping Focus While Selling a Business With Kelly Shroads
Kelly Shroads is a photographer, web design consultant for startups, and E-commerce business owner. Her business, which sells spa-quality bathrobes, has been going strong for eight years, but is currently in a state of transition. Kelly is looking at selling her company now—but that in itself involves a lot of research and work. In this episode we take a look at Kelly’s business model, and the many considerations she faces as she decides how to sell her business and where to go from there.
- Starting an ecommerce business: finding a niche, finding suppliers
- Selling a business: keep a share or sell outright? When is the right time to sell, and for how much? How should you prepare?
- Financial classifications: is it worth the hassle to reclassify a business as an S corp?
- Finding direction: how do you take stock of your business’s “why”?
Listen Now:
More About This Episode
Kelly Shroads runs a successful E-commerce business in a particular niche: spa bathrobes. The high-quality robes used at hotels and spas aren’t widely sold online or in stores, and many spa-goers are frustrated by their unavailability to consumers. “That really was my initial inspiration, trying to create the spa experience at home,” Kelly says. “It’s very specific.” After a lot of research in industry journals and trade shows, and a lot of refusals, Kelly found a supplier to help her meet the demand.
But that supplier was recently bought, and while Kelly looks for new ones, the business is in a state of flux. At the same time, she’s also starting the process of selling it, and wants it in optimal condition for potential buyers. “When you look at your business from the standpoint of showing it to a buyer, it changes everything,” Kelly says.
That means putting some work into cleaning up her financials. “I used to do just simple spreadsheet accounting,” Kelly says. “I knew I needed to step it up in the accounting department so I dialed everything into Quickbooks.”
While before she had filed taxes as a sole proprietor, with income from all three of her businesses under the same LLC, she’s also reclassified her robe business as an S corp. The reclassification involved some changes and challenges, with payroll to manage and new accounting habits to form, but Kelly says that she’s traded a little more work each month for a lot less work at the end of the year.
More importantly for her buyers, having separate entities has made it easier for her to report on and track expenses and earnings for this particular business. She can clearly report on exactly where her company’s earnings and expenses are, and send that earnings information to her potential buyers.
Then there are higher-level questions about selling the business. Is it best to sell the business outright and let someone else take off with it? Or is it better to retain some part in it so she can “get some reward from the work I put into it.” A lot depends on the sale price, but that can be hard to assess. Hearing a lot of discussion about value at Rhodium Weekend gave Kelly a sense of what’s average in the market for businesses like hers, and what the low and high end she can expect to see are as she proceeds with selling—helping to inform her decision to retain part of the business or not.
But maybe the largest scale question is when the right time to sell is. This year is the first year Kelly’s sales have gone down. Part of that is because of her supplier issues, but there’s a lot of other work she knows the business needs as far as branding, promotion, and alternate forms of monetization. The question is whether it makes sense for Kelly to do that work now, taking a year to get her business in top condition before selling it, or to sell it and leave those decisions up to the new buyer to make for itself.
That’s a question Kelly hasn’t answered yet, but she’s devoting a lot of thought to it and to her overall goals in business and life. “[The bathrobe business] is something comforting for people. It’s a simple product, simply delivered,” Kelly says. But as she moves forward, she’s balancing the management and improvement of her business and deep consideration of how her future business can make an impact and be of service in the world.
Helpful Links
Books that have helped Kelly think about her business:
http://www.amazon.com/Rules-Internet-Business-Success-Profitable-ebook/dp/B00LT955BA
The post 
060: Rhodium Talk: Improve Monetization With Affiliate Marketing – Mike Nunez of AffiliateManager.com
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
04/05/17 • 28 min
In this episode, you’re getting another exclusive peek at a never before shared talk from the 2016 Rhodium Weekend event. My guest presenter for this talk is Mike Nunez of AffiliateManager.com. His company has spent the last 15 or so years managing the affiliate programs for brands ranging from startups to Fortune 500 clients. In this talk, he distills his knowledge down into a practical action plan advertisers or publishers can take to significantly improve their revenue and profits through affiliate channels.
Highlights
In today’s episode, you’ll hear:
- Strategy – The keys to knowing your metrics and the metrics of others in your industry.
- Mindset – Why copying your competitors doesn’t work.
- Tactic – 6 Steps action plan for affiliate monetization.
Plus get the latest updates on my progress working towards building and selling a $250k online business.
Listen Now:
The post 060: Rhodium Talk: Improve Monetization With Affiliate Marketing – Mike Nunez of AffiliateManager.com appeared first on Rhodium Network (Formerly Weekend).
059: How to Rank in Any Niche Without Link Building – Rhodium Talk with Ewen Finser
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
03/09/17 • 22 min
In this episode, you’re getting an exclusive peek at a never before shared talk from the 2016 Rhodium Weekend event. My guest presenter for this talk is Ewen Finser who has used advanced keyword research tactics combined with creating quality content to build a portfolio of authority websites. The income from the sites have allowed him to completely leave the cubicle life behind. The best part? He doesn’t do any link building.
Highlights
In today’s episode, you’ll hear:
- Strategy – Using advanced keyword research to find low competition, high converting keywords.
- Mindset – Why Ewen only focuses on two things, choosing the right keywords and creating amazing content.
- Tactic – The exact keyword research tool Ewen uses and the one hack to discover wide open keywords.
Plus get the latest updates on my progress working towards building and selling a $250k online business.
Listen Now:
The post 059: How to Rank in Any Niche Without Link Building – Rhodium Talk with Ewen Finser appeared first on Rhodium Network (Formerly Weekend).
058: Jaryd Krause – From Plumber to World Traveling Online Entrepreneur in 8 Months
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
02/16/17 • 59 min
In this episode, you’ll hear an in-person interview I did with Jaryd Krause, an australian plumber turned world traveling online entrepreneur.
Highlights
In today’s episode, you’ll hear:
- Strategy – How buying online businesses let Jaryd quit his job and travel the world after only 8 months of effort.
- Mindset – The future of internet business...is it exciting or uncertain and what does that mean to you?
- Tactic – Reviewing business for sale listings. One of the fastest ways to learn about online business.
Plus get the latest updates on my progress working towards building and selling a $250k online business.
Listen Now:
The post 058: Jaryd Krause – From Plumber to World Traveling Online Entrepreneur in 8 Months appeared first on Rhodium Network (Formerly Weekend).
057: Neil Patel Interview: $100k Challenge
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
02/02/17 • 38 min
In this episode, you’ll hear an in-person interview I did with Neil Patel, founder of Crazy Egg and Kissmetrics, during my event where Neil was the guest expert.
Highlights
In today’s episode, you’ll hear:
- Strategy – Neil’s approach to building a blog that can turn into a $100k/month business.
- Mindset – Why playing big is the same amount of work as playing small.
- Tactic – The tools Neil loves for driving traffic through content marketing.
Plus get the latest updates on my progress working towards building and selling a $250k online business.
Listen Now:
The post 057: Neil Patel Interview: $100k Challenge appeared first on Rhodium Network (Formerly Weekend).
056: My Master Plan for 2017 and How to Create Your Own
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
01/14/17 • 31 min
This is an experimental solo episode covering my master plan for Rhodium going into 2017 and how you can create your own master plan.
Highlights
In today’s episode, you’ll hear:
- Strategy – A specific approach to strategic planning which is heavily focused on your customer’s success.
- Mindset – Turning your weakness into strength.
- Tactic – How to create a membership your clients will never want to leave.
Let me know if you’d like to hear more shows like this.
Listen Now:
The post 056: My Master Plan for 2017 and How to Create Your Own appeared first on Rhodium Network (Formerly Weekend).
Story 2.7: Post-Acquisition – Lessons from the First 12 Months. Podcast 053 with Matthew Yahes
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
12/22/16 • 54 min
This is episode 53. Today we are joined by Matthew Yahes, who this year acquired a 7 figure ecommerce portfolio in the gift baskets and wedding favors niches.
This is the last episode in our series with Matthew, so today’s interview is an epic unpacking of a story you don’t often hear:
What happens in those 12 months after you purchase a business?
What kind of challenges should you expect?
Is it worth it to buy rather than build your own?
Matthew shares with us a number of big mistakes he made this year, and has some surprising advice for people who are looking to acquire their own online business for the first time.
Highlights
Matthew walks us through his major milestones and lessons, including:
- Matthew’s insights on the huge learning curve the first 3 months after acquisition
- The best time to implement changes in a business you purchased
- The issues he wished he’d changed sooner
- What to do to make sure employees in a business you acquire don’t get bitter at new management
- And why, despite slower growth than anticipated, he’s still confident the business can double or triple next year
Make sure to stick around through the whole episode for all this and more.
Listen Now:
Past Episodes with Matthew:
Story 2.5: 10% Increase in Revenue with One Simple Email Sequence. Episode 046 with Matthew Yahes
Story 2.4: After the Sale, All The Things You Didn’t Plan For. Podcast 041 with Matthew Yahes
Story 2.3: Preparing for Business Growth with Matthew Yahes (Podcast 037)
Story 2.2: The Million Dollar Takeover with Matthew Yahes (Podcast 033)
Story 2.1: What It’s Like Buying a 7 Figure E-commerce Business With Matthew Yahes (Podcast 028)
The post Story 2.7: Post-Acquisition – Lessons from the First 12 Months. Podcast 053 with Matthew Yahes appeared first on Rhodium Network (Formerly Weekend).
Story 3.4: The Comeback – Don’t Give Up On Your Business. Podcast 052 with Kelly Shroads
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
12/16/16 • 52 min
This is episode 52.
We’ve been following Kelly’s story all year and today we check back in with her for the last time.
After beginning this year frustrated and tired of running her luxury spa robe ecommerce site and watching its sales decline, Kelly was ready to get it off her plate. But she knew she had a lot of work to put in first.
In this episode, we’ll find out if all that work paid off and how she feels about her progress this year – including how sales are going during her busiest time of year.
Highlights
We’ll also cover:
- Where Kelly stands now on selling her business
- Why her sales declined the first half of the year, even though her site ranking stayed the same
- Insights from redesigning her entire product line including...
- Kelly’s tricks to setup a professional photoshoot on a shoestring budget
- And what advice she would give herself through some of the toughest times in her business.
Having spoken with Kelly throughout 2016, I was really struck by her ability to leverage key skills like photography, website design, and SEO into a scalable, automated business rather than just getting stuck as a freelancer.
Kelly told me during this interview about a big business decision she’s going to make come January 1st, so make sure to stick around through the whole episode for this exciting news and more.
Listen Now:
Past Episodes with Kelly Shroads
Story 3.3: The Truth About Passive Income From Websites. Podcast 038 With Kelly Shroads
Story 3.2: Should I Sell My Business? With Kelly Shroads (Podcast 035)
Story 3.1: Doubling Ecommerce Sales Every Year With Kelly Shroads (Podcast 30)
The post Story 3.4: The Comeback – Don’t Give Up On Your Business. Podcast 052 with Kelly Shroads appeared first on Rhodium Network (Formerly Weekend).
Rhodium Talk: Selling Your Business – How NOT To Leave Money on the Table. Episode 047 with Mark Daoust
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
09/22/16 • 52 min
This is episode 47. Today we are joined by Mark Daoust, founder of Quiet Light Brokerage, which specializes in helping entrepreneurs get the highest value from the sale of their online businesses.
Today’s podcast is a recorded presentation by Mark from last year’s Rhodium Weekend – he explains the early mistakes he made in buying and selling websites and how exactly to avoid those same pitfalls.
This is actually two talks in one, and I’m excited to bring it to you today as one epic podcast episode. The first part is focused on exit strategy planning – and after that, Mark goes straight into how to make the sale happen.
Highlights
- The one thing Mark did to increase the value of his business 450% in One Year – from a 30K valuation to a $165K sale
- Plus what that site’s buyer did to re-sell for an additional $200K without increasing revenue
- You’ll also learn The 4 Pillars of an Investor-Focused Exit Strategy
- The 5 Biggest Sources of Risk in Your Business
- And the most important service that brokers provide (Hint: it’s not a Buyer List)
Plus Mark lays out how you can cut out the broker entirely by using his exact selling playbook.
Listen Now
Next Steps
If today’s in-depth look at navigating the acquisition process is really exciting for you, I’d venture to guess that you’re an online business owner looking to increase the value of your business – or maybe you’re looking to make a purchase of an online business – or perhaps you’re just looking to make your business more scalable, even if you don’t plan on selling.
Listen, there’s a lot to learn, and today’s episode is a great starting point and maybe even an intermediate step...but if you’re hungry for this kind of knowledge, you’re going to want to go even deeper.
That’s why, every year, I host the Rhodium Weekend event – where you can learn, network and do deals with experienced buyers and sellers of online businesses.
Everyone comes to learn and share with one common goal – to create and enjoy incredible freedom.
If you can picture yourself with this like-minded group of entrepreneurs, now is the time to apply before ticket sales close on September 23rd. I keep the number of seats limited to make sure every attendee gets incredible value and attention. To find out if you qualify to attend:
Links to Other Rhodium Weekend Presentation Podcasts
Rhodium Talk: Expert Funnel Hacks To 10X Your Revenue in 15 Months. Podcast 042 with Rob Walling
Rhodium Talk: The Journey From Entrepreneur to Passive Investor. Podcast 039 with Scott Fritz
Chris Yates Rhodium Talk: Lessons Learned From 50+ Deals in 6 Years (Podcast 026)
The post Rhodium Talk: Selling Your Business – How NOT To Leave Money on the Table. Episode 047 with Mark Daoust appeared first on Rhodium Network (Formerly Weekend).
Story 2.6: Safety First: Tips on eCommerce Site Changes and Business Partnerships. Episode 049 with Matthew Yahes
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites
10/19/16 • 42 min
This is episode 49. Today we are joined by Matthew Yahes, who recently acquired a 7 figure ecommerce portfolio in the gift baskets and wedding favors niches.
Last time, Matthew talked about increasing revenue with one key strategy – cart recovery. That boost has allowed him to start testing a lot of other aspects of his business – from his mobile checkout process to opt-in coupons that build his email list.
As you’ll hear, though, he’s run into a number of snags that have caused him to take a smarter approach to changes on his sites.
Highlights
In today’s interview with Matthew, we’ll also cover:
- The simple mistake that dropped conversion by 50%
- How he found an e-commerce expert and sold him on joining as a partner
- How to manage both parties’ risks in a partnership (including how they decided between salaries and equity splits)
- And evaluating whether to 10x or 2x his business
Make sure to stick around through the whole episode for all this and more, as Matthew establishes his revenue goals for the end of the year and into mid-2017.
Listen Now:
Past Episodes with Matthew:
Story 2.5: 10% Increase in Revenue with One Simple Email Sequence. Episode 046 with Matthew Yahes
Story 2.4: After the Sale, All The Things You Didn’t Plan For. Podcast 041 with Matthew Yahes
Story 2.3: Preparing for Business Growth with Matthew Yahes (Podcast 037)
Story 2.2: The Million Dollar Takeover with Matthew Yahes (Podcast 033)
Story 2.1: What It’s Like Buying a 7 Figure E-commerce Business With Matthew Yahes (Podcast 028)
The post Story 2.6: Safety First: Tips on eCommerce Site Changes and Business Partnerships. Episode 049 with Matthew Yahes appeared first on Rhodium Network (Formerly Weekend).
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FAQ
How many episodes does Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites have?
Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites currently has 50 episodes available.
What topics does Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites cover?
The podcast is about Investing, Podcasts, Self-Improvement, Education and Business.
What is the most popular episode on Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites?
The episode title '059: How to Rank in Any Niche Without Link Building – Rhodium Talk with Ewen Finser' is the most popular.
What is the average episode length on Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites?
The average episode length on Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites is 47 minutes.
How often are episodes of Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites released?
Episodes of Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites are typically released every 7 days, 18 hours.
When was the first episode of Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites?
The first episode of Rhodium Podcast | Online Business | Entrepreneurs | Marketing | Buying and Selling Websites was released on Jun 30, 2015.
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