Drew Kraemer founded Marketplace Strategy in 2016 and decided that they were going to be good at exactly one thing: helping businesses develop and implement marketing strategies for their Amazon e-commerce stores.
As a brand new company, it might sound risky for Kraemer to focus so specifically. His approach meant turning down perfectly good work in other areas from customers who wanted to hire him. But when Kraemer received his first offer from an interested buyer after only nine months, he knew he’d made the right decision.
In this episode, you’ll learn:
- How focusing on one thing can accelerate your growth
- The opportunity cost of turning down work outside your area of specialization
- How to use a scorecard to map out what makes you attractive to a potential acquirer
- How normalizing your EBITDA works
- The definition of a BATNA and how to leverage one to ensure you get a fair price for your business