876: Online and Offline Business: The Difference, Opportunities, Advantages, and Disadvantages with Thomas Smale

There are differences between online and offline businesses. Although similar, each has its own perks and disadvantages. It’s easy to make changes immediately overnight with online businesses. However, when it comes to financing, online businesses often have a hard time getting funds and loans.

Thomas Smale is the CEO and founder of FE International, an award-winning mergers and acquisitions advisor. He has been helping entrepreneurs buy and sell online businesses since 2010. Today, Thomas discusses his passion for the mergers and acquisitions space, sharing how he and his team work with new businesses every day, learning about their operations and helping owners sell their companies. Thomas also talks about the benefits of buying an online business versus a traditional brick-and-mortar business, highlighting the ability to quickly test and implement changes to drive growth.

Quotes

“The fun thing about mergers and acquisitions is that every single day, we're working with a new business and a new business owner. We kind of live vicariously through what those businesses we're working with do.” - Thomas Smale

“Often, you only have to make really small changes to see big improvements. Sometimes, things you might think will really improve a business won't actually make a difference at all.” - Thomas Smale

“Good deals don't really exist. You're not going to be the only person who spotted a business that's being sold, particularly if it's through a good M&A firm. They're going to have a good network of buyers.” - Thomas Smale

Takeaways

12:49 Buying the right business is more important than getting a good deal on the price.

14:51 Focusing on improving the business, such as through pricing changes, can lead to significant growth and value increases.

15:54 The online business model allows for more flexibility and experimentation compared to physical real estate.

17:58 Lack of financing options from traditional banks is a barrier to more people getting involved in buying and selling online businesses.

24:25 Browsing and researching different online businesses is a good first step to get started in this space.

Resources:

Podcast: Play in new window | Download (Duration: 28:52 — 39.8MB) | Embed

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Filed in: Archive 4: 2020-2023 • Interview • Podcast

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