As with many eCommerce entrepreneurs, Andrew Youderian of eCommercefuel, fresh out of college, started out in a job that he hated. Enticed by the chance of obtaining valuable job experience, Andrew took a job in investment banking. After making his decision to quit in 2007, Andrew scrimped and saved to make his escape. After hours of research into niche markets and business models, Andrew made his move, quit and created his first business, Right Channel Radios.
Since then, Andrew has created two other businesses, TrollingMotors.net, the sale of which he discussing on this episode, and eCommerceFuel. His latest company, eCommercefuel was created to share Andrew’s experiences and knowledge to help others to make the leap from the corporate 9-5 to online entrepreneurship.
On this week’s episode, we discuss Andrew’s requirements for choosing a niche, how to get started and how Andrew prepared to sell his first company without the help of a broker. We’ll also discuss what he would have done differently if he were able to start the process all over again. You don’t want to miss this episode!
What You’ll Learn From This Episode:
- Andrew’s requirements for choosing a drop shipping business.
- Why it is important to choose a niche that people will have a lot of questions about.
- How to create buzz about your sell.
- The two regrets Andrew has about the sale process of TrollingMotors.net.
- What a Dutch auction is.
- Why it is better to start the process of a sale after your quarterly financials are completed.
Featured On The Show:
Listen To The Full Interview:
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Not following the crowd by investing into specific niches can have greater potential for high margins of profit. Billy Murphy from ForeverJobless.com has much experience in this area with a creative way to scaling up a business.