We all wonder, when building up a business, what is the end goal? Build it for the rest of our lives, or part ways with our “baby”. It is true, a business, a brand, become part of our identity.
For the first E-commerce Gladiator business, we decided to sell. We also believe the future owner has more funds and more scaling ability as it was a mix of cash and equity in the investment company.
You need to think ahead of time. When you make a business, Amazon FBA, Ecommerce, lemonade stand or whatever, think what is the exit strategy. Will it be a lifelong cashflow (normally a lifestyle business), something you build and sell and repeat, or one you want to raise investment for and shoot for the moon?
For this case, we built and sold within a couple years and if we had held out more, who knows really. Hindsight is always 20/20, meaning no one knows the future and you need to make the best decision for you and the company at the given time with the facts you have.
What do you think? Buy, build, sell, hold?
Know my thoughts in this short clip: