Behind the Scenes of an $85 Million Exit with Oliver Palmer [The Opportunity Ep.159]

Having a great product is one thing. Ensuring that it actually appeals to your target audience is a whole different thing entirely. A product that doesn’t convert is essentially useless. That is why split testing is so important. Even a 10% improvement in your conversions can result in massive growth for your business. In this episode, we chat with Andri Sadlak, the founder of Product Pinion, a split-testing platform designed specifically for Amazon sellers. Andri dives into why split testing matters—from refining your product’s appeal and optimizing ad spend to gathering insights about your customers and staying a step ahead of the competition. Andri breaks down the split testing process into four simple steps: Step 1 - Gather feedback from your target audience using things like surveys and Facebook communities.  Step 2 - Create multiple versions of whatever you’re testing based on that audience feedback.  Step 3 - Conduct split tests in a simulated environment. Step 4 - Move to Amazon and test again.  The best part? Improving your conversions doesn’t require years of experience, special skills, or a huge budget. It’s a powerful approach that is accessible to any business, at every stage of your growth. As Andri explains, “Optimizing conversions is a never-ending process. There's a huge benefit to constant improvement. It’s the principle of compounding. As long as you stay on top of things and always improve, little by little, you benefit from that compounding because very few of your competitors will be as resilient and committed to perfection as you are.” If you want to take your Amazon sales to a whole new level, then tune in for Andri’s expert tips on split testing and unlocking a deeper understanding of your audience! Topics Discussed in this episode: Why many Boutique aggregators are failing (04:29) Why Andri had to sell his house to save his business (06:57) What drove Andri to sell his FBA business (11:34) How selling his business empowered Andri to start a new business (15:25) The origins of Andri’s market research SaaS business (17:29) Consumer research trends on Amazon (21:51) How to set up effective split testing (23:58) Tips on how to get ahead in the current Amazon seller landscape (35:00) How the Amazon marketplace will evolve in the next few years (42:45) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Product Pinion Andri’s LinkedIn  Building a Story Brand by Donald Miller Sit back, grab a coffee, and learn the secret to creating a long-lasting boost to your Amazon sales!

Oscar Wilde once said, “There’s only one thing in the world worse than being talked about, and that is not being talked about.” Getting your business mentioned in the right places at the right time can take you from obscurity to virality overnight. Nowadays, businesses tend to rely on social media, but traditional PR and press coverage still play a key role in brand recognition and lead generation. In this episode, we’re joined by Peter Shankman, the founder of HARO, and most recently, Source of Sources, a platform that helps journalists find the sources they need, and businesses get the publicity they seek. Peter discusses the state of modern-day PR, explains the many benefits of press coverage, and offers practical tips on how to get your business featured in popular publications. According to Peter,  “When it comes to getting PR or press for your company, your job is to make a reporter's life easier. Email them saying “This is what I do. Here’s my website. Here's what I know. Here's what I can help you say,” and they will respond to you. Anything you can do to make their job easier will get you the press you’re so desperately seeking.” Beyond PR, Peter also founded Mental Capital Consulting, which helps businesses attract, hire, and retain neurodiverse employees. Having grown up with ADHD, Peter knows firsthand how neurodiversity can be a business superpower if you understand how to leverage it. He talks about the value neurodiverse employees bring to companies and offers advice for neurodiverse entrepreneurs on using their unique abilities to gain an edge in business. Whether you're looking to land press coverage or discover how to turn neurodivergence into an advantage, this episode has something for every business owner! Topics Discussed in this episode: Peter’s background and why he started Source of Sources (02:29) Posting bad AI-generated content on HARO? Peter will find you! (04:18) The inspiration behind Mental Capital - turning neurodiversity into a superpower (07:36) The benefits of building a neurodiverse team for your business (14:37) Peter’s productivity tips for neurodiverse entrepreneurs (19:50) How to get more media coverage on a limited budget (25:42) The value of press coverage in the modern world (28:10) Press agencies - are they worth it? (35:30) How to build stronger relationships with journalists and publishers (39:02) The death of PR (42:37) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Source of Sources Faster than Normal by Peter Shankman Mental Capital Consulting Sit back, grab a coffee, and learn how to generate press coverage and PR like a pro!

From our humble origins selling small niche websites to successfully selling over 2,300 online businesses and helping more than 70 entrepreneurs become millionaires, Empire Flippers has come a long way. Now, we're entering an exciting new chapter with Andy Allaway taking the helm as our new CEO. In this episode, we take you behind the scenes at Empire Flippers, where Andy shares his journey from Director of Operations, to Chief of Staff, and now CEO. He talks about the rapid growth we experienced during the 2020/2021 online business boom and the challenges that followed in the post-pandemic downturn. Andy also explains the strategies he put in place to get Empire Flippers back on track. According to Andy, “You have to make a conscious decision about what culture you want in your business. You have to decide what it is that you're about. That helps you identify the right people for the business who share your values and are able to maximize what you offer. Then, let that bleed through into everything you do in the business.” We also dive into what makes a great leader and how CEOs must adapt their leadership style in both good times and tough ones. Andy explains, “To be a really really good leader, you have to be able to flex your style depending on the situation that faces you. The way you lead in calm waters is not the way you lead when your back is up against the wall.” If you're an employee looking to gain the kind of leadership skills that you need to become a CEO, then this is also a fantastic podcast for you. Topics Discussed in this episode: Andy’s background and his early days at Empire Flippers (03:10) The changes Andy made to streamline Empire Flipper's operations (08:08) The chaos of 2020 and how it negatively affected Empire Flipper (09:50) Building company culture in a remote environment (20:22) How to find a CEO for your business (22:49) Becoming the CEO of Empire Flippers (25:44) How Andy turned the ship around and helped Empire Flippers recover (32:33) What entrepreneurs should focus on when rebuilding their business (36:32) What makes a good leader and peace-time CEOs vs war-time CEOs (40:30) Andy’s advice to entrepreneurs holding off on selling their business (46:18) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Andy’s LinkedIn Influence by Robert Cialdini Sit back, grab a coffee, and learn what it takes to rise through the ranks and become a CEO.

Amazon Seller Support is notoriously tedious. Many sellers find themselves wasting hours dealing with support tickets, only to end up stuck in the same cycle of slow responses and unresolved issues. Dealing with Seller Support is a necessary evil, but what if someone could handle all of that for you? This is where John Cavendish spotted an opportunity. John is the co-founder of Seller Candy, an agency that deals with Seller Support on behalf of Amazon sellers. Whether it's handling emergencies like suspended accounts, fixing listing problems, managing flat files, or securing reimbursements, Seller Candy shoulders that workload so that you to focus on what you do best: growing your business. In this episode, John shares his expert tips on how to handle the most common challenges Amazon sellers face. He walks us through how to keep your account in good health and why it’s key to long-term success on the platform. Plus, with the holiday season fast approaching, John offers advice on how to get your business ready for the seasonal rush. But the conversation doesn’t just stop at FBA sellers. If you run an eCommerce agency or are thinking about starting one, John’s experience building Seller Candy offers valuable lessons. He talks about the challenges he faced, how he built a remote team, and what it takes to scale an agency in the fast-paced world of e-commerce. Whether you're an Amazon FBA seller bogged down by support issues or an agency owner looking for growth strategies, this episode is full of useful advice to help you move forward. Topics Discussed in this episode: Seller Candy’s origins and how it helps Amazon sellers (02:00) Common Seller Support challenges and how Seller Candy solves these (06:35) What is Amazon account health and why is it so important? (10:10) John’s tips to ensure smooth operations during the holiday season rush (15:30) How to forecast your holiday season inventory (17:15) The common characteristics that successful Amazon businesses share (19:26) What John wishes he’d known when he first started his Amazon business (23:48) Why John decided to pivot and start his own agency (29:31) How John built out his remote team and created a good team culture (36:10) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Seller Candy Refundify Magnet VA Sit back, grab a coffee, and discover an easier way to navigate Amazon Seller Support.

Choosing the right eCommerce platform can be a game-changer for your business. With so many options available, it’s important to find the platform that sets you up for success. In this episode, we chat with Kurt Elster, an expert who believes Shopify is the go-to platform for any eCommerce entrepreneur. Kurt has been running a Shopify services agency for over a decade, helping store owners with theme development, migrations, and support. He’s also the host of The Unofficial Shopify Podcast and has interviewed more than 500 eCommerce entrepreneurs. Kurt shares why Shopify is not just a software company but a champion for entrepreneurs. He dives into everything you need to know about selling on Shopify—from funding your store through Kickstarter-style campaigns to building an audience and optimizing conversions to boost sales. Driving traffic to a Shopify store is often a lot harder than attracting customers on Amazon. To combat this, eCommerce entrepreneurs need to think outside the box and keep their eyes open for hidden opportunities. According to Kurt,  “People are ignoring SEO because they think AI is going to destroy it, which means a lot of people are not investing in SEO right now. But where are these AI tools getting the answers from? They're still doing Google searches!  So, building content like long-form, ultimate guide content is a missed opportunity for a lot of folks. And, it's easier than ever to create the content because ChatGPT and other tools can help you write it.” Kurt also discusses the advantages of expanding into the Amazon marketplace and gives tips for Amazon FBA sellers looking to diversify with Shopify. Whether you're thinking about starting a Shopify business or looking to grow your current one, this episode is packed with insights to help you succeed! Topics Discussed in this episode: How eCommerce stores have evolved over the last decade (06:38) The most common mistakes eCommerce sellers make (10:23) The pros and cons of Kickstart-style campaigns (14:06) How to build an audience for a Shopify store (22:28) How to build an audience for your eCommerce business on Reddit (27:06) The benefits of expanding into the Amazon marketplace (30:18) Tips for Amazon FBA sellers looking to diversify with Shopify (34:25) The core pillars of good conversion rate optimization (38:02) Personal vs professional brands (42:32) Kurt's advice for entrepreneurs looking to build an agency (47:54) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Kurt’s website The Unofficial Shopify Podcast Matrixify Sit back, grab a coffee, and learn Shopify tools and tactics to skyrocket your sales!

Many entrepreneurs think selling their business is a one-time event. But there’s another way to get a big payday and continue growing your business. Instead of selling everything, you can sell a portion of your business to a private equity firm. This reduces your financial risk by allowing you to cash out a large sum of money from your business. Plus you now have a powerful new partner with deep pockets to help you grow your business even further. With this strategy, you can sell the same business multiple times, earning you far more money than you would by simply selling 100% of your business once-off. Adam Coffey, a private equity expert and CEO of The Chairman Group, has successfully used this strategy many times.  In fact, his personal record is selling the same company five times in thirteen years! In this episode, Adam joins us to demystify the world of private equity for online business owners. He explains how private equity works, what a typical private equity deal structure looks like, and of course, the many benefits of partnering with a private equity firm. According to Adam, “The two biggest mistakes entrepreneurs make are overestimating their importance in their business, and struggling to decide when to sell their business. As they get older, they become more conservative, which slows growth. By partnering with private equity, they can reduce their risk, access more capital, and keep growing aggressively, ultimately maximizing their business's value.” Becoming a minority shareholder in your own business opens up avenues of growth many entrepreneurs didn’t even know existed. Done right, it is an excellent way to accelerate your personal wealth. Download this episode to learn more! Topics Discussed in this episode: Adam’s background and what motivates him today (02:31) The difference between private equity and other forms of investments (06:29) A typical private equity deal structure (13:50) The benefits of becoming a minority shareholder in your own company (20:00) How to attract private equity investments (32:17) Common private equity mistakes entrepreneurs make (44:49) The best professional advice Adam has ever been given or heard (52:11) Mentions:  Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Adam's Books Adam’s LinkedIn Sit back, grab a coffee, and learn how partnering with private equity can accelerate your business’s growth!

Many people view SEO as art. It involves creativity, engagement, and out-of-the-box thinking. However, at its core, effective SEO is a science, grounded in measurable, data-driven strategies. Embracing this scientific approach is the key to SEO success.This is an area where Manick Bhan thrives. Manick is the founder of Search Atlas, an SEO software suite designed to automate your SEO with just one click.In this episode, Manick joins us to share his data-driven approach to SEO, and how he leveraged this expertise to build and scale his own SEO software business.Manick believes that holistic SEO,  a combination of user experience, authority, content, and technical SEO, is the future. By understanding the formulas behind how Google ranks traffic and sites, you can unlock the secrets to SEO success. As Manick explains: “Google wants high-quality content, and how Google calculates this is essentially:Organic Traffic = Ranking Potential x Ranking Signals Ranking potential comes from having web pages and content that are indexable in search. Ranking signals come from authority and the UX / behavior signals that tell Google whether our content is good or not. Mastering these two factors through holistic SEO is the ultimate goal.” Manick also explores the role of AI in modern SEO, explaining how it can help agencies automate their services, delivering high-quality results more efficiently and cost-effectively. If you’re looking for a deeper understanding of the science behind SEO, then don’t miss a minute of this fascinating episode! Topics Discussed in This Episode: The current state of SEO and the emerging opportunities (04:21) The four pillars of holistic SEO (05:56) How to create AI content that actually ranks (07:35) Why automation is the key to modern-day SEO success (15:58) Why you should embrace AI or get left behind (20:14) The most common SEO mistakes that business owners make (25:23) How to recover from a Google penalty on your affiliate site (29:15) The problems that Search Altas solves that other SEO software doesn’t (38:16) How Manick’s Otto AI system identifies technical SEO issues (44:48) How Manick innovates and stays ahead in the industry (50:36) Mentions: Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Search Atlas Mike King’s Google algorithm leak exposé SEO Theory Facebook community Sit back, grab a coffee, and learn how to use a data-driven approach to master SEO!  

Shopify is a powerhouse in the eCommerce industry, with merchants running more than 1,000,000 businesses on the platform. But Shopify is more than just a product listing tool. It offers thousands of apps and integrations to help you build a profitable eCommerce business. In this episode, we’re joined by Chris Singleton, the founder of Style Factory Productions, a site that provides in-depth reviews and comparisons of key business apps to hundreds of thousands of readers. Chris reveals the ‘hidden’ Shopify features that many merchants overlook. From Shopify’s SEO tools and blogging features to its free email marketing tool and abandon cart feature, Shopify has a full toolkit to help you grow your business beyond a simple eCommerce store. Chris also highlights the power of YouTube for eCommerce sellers. According to Chris, “YouTube is a key SEO strategy for Shopify merchants. The benefit is that you're dealing with two search engines because your video appears in the Google search results and on YouTube. The quickest SEO win at the moment is publishing content on third-party platforms like YouTube, Pinterest, LinkedIn, etc, and using that platform to drive traffic back to your store.” If you're an eCommerce seller, then this is an episode you don’t want to miss! Topics Discussed in This Episode: The most common pain points Shopify merchants face (02:15) Why Shopify merchants tend to focus on paid ads over traditional SEO (03:40) Why eCommerce SEO is easier than affiliate SEO (05:43) Quick SEO wins for Shopify (09:45) Hidden Shopify features that many merchants aren’t aware of (12:23)  Shopify’s free email marketing tool (18:18) Creating an effective abandon cart structure in Shopify (22:25) Integrating apps into your Shopify store and which apps you should use (27:03) Why merchants should choose Shopify over other eCommerce platforms (29:44) How Chris has seen eCommerce evolve in the last 10 years (31:47) Mentions: Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter Style Factory Chris’s LinkedIn  Podcast about scarcity and behavioral marketing Sit back, grab a coffee, and learn how to take your eCommerce business to the next level with Shopify’s integrated apps and tools.

Selling a business for millions of dollars is a dream that many entrepreneurs chase, but only a lucky few ever achieve.Oliver Palmer is one of those entrepreneurs. He founded a mobile technology business and sold it for an impressive $85 million.In this episode, Oliver takes us behind the scenes of his multi-million dollar exit. From the disappointments of a failed acquisition to the high of finding the perfect buyer. He also explains the many benefits of using an advisor during an exit. According to Oliver, “The best thing we did when selling our business was engage an advisor. It allowed us to position ourselves in front of acquirers we'd never even heard of. An advisor also brings legal advice and puts the sale together in a way that’s ideal for a buyer. If everything's all lined up, it's so much easier to get to a yes. You can't put a price on that.” Oliver also reveals the common problem his new firm, DQ Ventures solves by helping entrepreneurs build sustainable businesses from scratch without risking their day jobs.Whether you're a budding entrepreneur with a big idea or an experienced business owner aiming for a major exit, this episode has something for you. Enjoy! Topics Discussed in This Episode: Oliver’s background and how he founded his venture studio  (02:19) A behind-the-scenes look at Oliver’s $85 million exit (03:48) The benefits of using an advisor or broker when exiting a business (14:59) The big thing that surprises entrepreneurs when exiting a business (19:53) How Oliver’s life changed after his multi-million dollar exit (24:31) What Oliver’s venture studio offers to startup entrepreneurs (28:13) The criteria Oliver looks for in a business to fund (37:50) The deal structure that Oliver offers startup companies he helps build (42:19) Oliver’s take on the secret to starting a successful business (51:20) Mentions: Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter DQ Ventures Oliver’s LinkedIn Profile James Green’s LinkedIn Profile Sit back, grab a coffee, and get a behind-the-scenes look at what it’s like to sell an $85 million business!

Expanding into omnichannel sales is a great way to grow your eCommerce business, but it also results in a more complicated supply chain. That’s why working with a logistics partner who has their finger on the pulse of the industry is so important.  In this episode, we chat with Taylor Smits, co-founder of MyFBAPrep, the largest Amazon prep and eCommerce fulfillment network in the US. Taylor joins us to explain how to optimize your supply chain without hindering growth and expansion. He outlines the common logistics pain points Amazon sellers face, how to ace your inventory forecasting, and how to remove redundancies in your supply chain to boost your bottom line. Taylor also reveals the best growth opportunities emerging in the eCommerce industry today. According to Taylor,  “We're seeing a halo effect from TikTok shop. For every sale you make on TikTok shop, you can assume two or three increased sales on Amazon, because people go to Amazon to check if the brand is legitimate. Now, you can use your FBA inventory to fulfill TikTok. That's one more reason to get on TikTok as a seller and get that halo effect.” Whether you sell on one platform or many, this episode is packed with practical tips to help you streamline your logistics and grow your eCommerce business. Topics Discussed in This Episode: A brief overview of MyFBAPrep and its origins (01:58) How the Airbnb model of logistics works (05:39) The common supply chain bottlenecks for Amazon sellers (15:20) The current state of Amazon fees (19:48) How TikTok Shop is shaking up the eCommerce industry (25:26) The core pillars of an optimized supply chain (31:29) The best approach to inventory forecasting (36:53) The easiest way to boost your bottom line (42:21) An inside look at Taylor’s Preptopia platform (47:09) Mentions: Empire Flippers Podcasts Empire Flippers Marketplace Create an Empire Flippers account Subscribe to our weekly newsletter MyFBAPrep Podcast with Roland Frazier Sit back, grab a coffee, and learn how to optimize your eCommerce logistics to boost your bottom line!