Resources for Buying and Selling Online Businesses

Starting and Scaling an Amazon Business for Exit With FBA Expert Kellianne Fedio

On this episode of our podcast, we speak with Kellianne Fedio, an Amazon consultant. She discusses selling her previous business for seven figures and the creation of her new podcast.

Her journey is long and interesting, with a lot of twists and turns. Here, she shares her entire story and offers great advice to those who want to follow in her footsteps. Tune in to hear Kellianne’s great insights.

Topics:

  • When she stumbled on Ecommerce, she realized it was a good fit.
  • How Amazon has changed since she started.
  • Why outside funding sources are necessary.
  • The importance of Mastermind groups.
  • Living through rocky periods.
  • Explaining rebates.
  • Kellianne’s consulting methods.

 

Resources:

Kellianne on LinkedIn

Kellianne on Facebook

Digital Shelf Strategy

Quiet Light

[email protected]

 

Transcription:

Mark: Joe, we know that first-hand experiences of people that have gone through the process of building a business, preparing it for sale, going through that exit, that tends to be some of the greatest stories and stories where we can get a lot of lessons back to us that we can apply and learn how to optimize our own businesses for a better exit. I know you had Kellianne on recently and she shared her story of building her business and going through that exit and now her current pivot where she’s starting up a podcast on this very topic.

Joe: Yeah, Kellianne is good friends with another good friend of ours, Paul Miller, who owns Cozy Phones and Kellianne had a seven-figure exit. Technically, I guess it would be early this year that she closed on the transaction; early 2020. And she’s learned a lot through that process and now she’s sharing that experience and the knowledge and the networking and the story of building a business on Amazon; all the resources and connections that you need to make in order to build it well and build it right with an eventual exit in mind. So she shares her entire story and gives real tips and advice from her own direct experience during the interview.

Joe: Hey, folks, Joe Valley here from Quiet Light Brokerage and the Quiet Light Podcast, Today I’ve got Kellianne Fedio and I had to say that out loud several times to make sure I pronounced it right. Kelly is a former attorney, Amazon seller, seven-figure exit that she’s had recently. And she’s going to be moving into helping people build their Amazon businesses for a stronger exit down the road. Kelly, welcome to the Quiet Light Podcast.

Kelly: Thank you so much for having me, Joe. I’m such a big fan of everything you guys are doing over at Quiet Light and have done for the past several years so it’s a real honor to be here.

Joe: I appreciate that. I did more of an intro just now than I normally do, but I didn’t read from the script. But why don’t you go ahead and tell us who you are and your story and where you came from and what you’ve done here?

Kelly: Sure. So I started out as an attorney in a former life, and after having kids, getting married, I became very unhappy in that profession. That was just a lot of long hours, not enough pay at least for what I was doing, and I really wanted to be there for my kids. So I became a stay at home mom for a while and loved every minute of it. And then when my kids started elementary school, I was like, okay, what’s my next chapter here? And I never would have guessed it would have been entrepreneurship. I was very traditional type-A personality in high school. I’m going to get all A’s. I’m going to go to college. I’m going to go to law school. I’m going to be an attorney. And that was like my plan for the rest of my life. And so fast forward to several years later, after having practiced law for 10 years and now having kids and a husband and a wonderful family life, I was like what am I passionate about? What can I put out there into the world that not only is going to hopefully bring in income to our family but also that I could be excited about doing? And so I just knew it had to have something to do with online; being online and creating value online. And so, like a lot of other entrepreneurs getting involved in the online space, I tried a lot of different things, made tons of mistakes, had tons of failures, learned a lot, loved every minute of that experience, but sooner or later stumbled upon e-commerce and pretty quickly realized this is something that I really could see myself doing for the foreseeable future. And so around that time, Amazing Selling Machine had become pretty prominent in terms of the Amazon education space. So I was in ASM3 and of course…

Joe: I got to ask, what number were you? The early ones were the good years. They’re coming back around. They’re doing good stuff again. I talked to them last week.

Kelly: They are. They’re always innovating, always doing new stuff so, I mean I always bring that out when I’m on podcasts or other interviews, because if it wasn’t for that course my life would be a lot different. So I met an amazing group of entrepreneurs with the affiliate group that I joined. It was Ryan Moran and his tribe. I met a lot of amazing people. I’m still friends with them to this day, and really just dug in and had some pretty early success early on. So it was really, really exciting and I knew that this was what I was going to be focusing on, probably forever.

Joe: How did you choose your first product?

Kelly: I chose something that I thought I could build a brand around. So I’m very passionate about talking to other Amazon sellers about when they’re thinking about how to start their business. You know, people always ask, well, how do you pick a product? First and foremost, you have to build a brand these days. When I started, you could throw up kind of anything and just with a little luck and…

Joe: How many years ago was it that you started?

Kelly: 2014.

Joe: Okay.

Kelly: Yeah, so it was a while ago. Things have drastically changed, right, in the Amazon space?

Joe: A little bit, yeah.

Kelly: Yeah, a little bit. And so even back then; and I had no branding experience or consumer product experience, but I knew that this first product, I could build a brand around it and actually wasn’t a product that had a huge demand at the time, but it was a product that I knew that I would love and that I knew that other active women would love. So that’s really what I built the brand around and just continued to develop products; not all winners, lots of failures…

Joe: Additional products all within that brand, yes?

Kelly: Exactly, that would serve a core audience and solve a problem or need.

Joe: How many products did you launch initially, was it just one?

Kelly: It was just one.

Joe: And it was a success out of the gate?

Kelly: Not right out of the gate. So I launched it in August but by that Q4, I had reached seven figures on top-line revenue so it was really, really exciting.

Joe: Cool, very exciting.

Kelly: Just with one product, one variation.

Joe: And probably not working as many hours as you did as an attorney.

Kelly: No, I mean, I definitely was working a lot because I was still in learning mode. I mean, the thing about Amazon and e-commerce is you’re not only learning the platform itself, but you’re learning how to source overseas, perhaps, and manufacturing and product design and advertising and marketing. So there’s a lot of different skill sets you have to learn. So I definitely was really, really passionate about learning as much as I could.

Joe: When you learn all of those things, do you think it’s things you need to learn and then do yourself or do you think that there are certain experts that you can outsource certain things to like photography or listing creation or whatever it might be; importing from China, dealing with different things? Are there certain aspects to an Amazon business you feel that should be outsourced and things that you should do in-house as the entrepreneur that started the business?

Kelly: Oh, absolutely. In the beginning, I think you should do everything with the exception of maybe photography. Super specific skill sets, like graphic design or photography certainly, you can outsource that early on. But everything else I would say you have to learn first and foremost yourself before you can effectively outsource it. And there are I mean, so many great service providers now that have obviously spawned in this Amazon industry not only software services but also other types of services, whether it’s Amazon brand management or writing listings, things like that. So now it’s all out there, but you should really learn the components and the strategy behind it first before outsourcing.

Joe: How much money did you start with Kellianne?

Kelly: I started with about $5,000.

Joe: Okay, and did you have to borrow more to keep up with inventory? Because that’s the story that I consistently hear. I started out with X and then when you dig deeper the business didn’t fund the growth. Did yours fund the growth or did you have to go and borrow more?

Kelly: In the beginning, it did. But yes, even if you reinvest all of your profits, there’s no way you can grow initially without getting capital from outside sources. So about a year into it, I was able to get Amazon Lending so that was great. But before that, it was a lot of credit cards. And then early on, I actually was able to get a line of credit after the first year. But until then, it was really credit cards. And I wouldn’t recommend people doing that but sometimes it’s just a necessary evil to get where you need to go.

Joe: Yeah, I was playing golf with a mentor years ago before I grab my head and one of the things he said to me was get a line of credit set up now; before you need it, get that line of credit set up because you never know when you’re going to need it. And I see so many people that are struggling to keep up with purchasing more and more inventory for growth or developers if it’s a SaaS business because they don’t have the ability to stroke a check when it’s necessary. They go hunting for that line of credit when they need it as opposed to getting it set up beforehand so I think it’s great to get it set up beforehand. So you hit six figures you said by the end of Q4 your first year…

Kelly: Seven figures, I was very lucky. Yeah.

Joe: And did a million in revenue in 2004.

Kelly: Mm-hmm.

Joe: Don’t you like how I could do the seven-figure translation to a million? That was really; okay, all right. Anyway was it all with one SKU or did you add additional SKUs as well?

Kelly: By that next quarter of 2015 then I started adding more SKUs, but it was really just on one product. And so that talk about funding the inventory for that, I got to say it was just a lot of luck. I was able to forge a really strong relationship with my supplier very early on in China without ever having met him. And he gave me terms once he saw that this thing; and that normally doesn’t happen that early on in the relationship.

Joe: No. Yeah, I know.

Kelly: He was able to give me terms. So that’s another way that I was able to fund that growth so quickly that that first year.

Joe: Yeah, if you can get to China, folks, we did a podcast with Athena Severi from China Magic and before that with Dan from Titan Network all about negotiating terms with your Chinese manufacturers, and it does exactly what Kellianne did, which was it gives you more cash flow for buying more inventory. And if you can get terms, it’s a lot better than an Amazon Loan because the interest rate is very different. It’s nonexistent in most cases. During that initial journey Kellianne if we summarize things so far, you took ASM3, you invested $5,000, you did a million dollars in revenue. Sounds easy, but I’m sure it wasn’t, right?

Kelly: It was and I know it sounds easy and like I said, there was a lot of luck in there too. I’m not going to like take credit that it was just all my superpower genius. But I did have tremendous tenacity because between the time that I launched the product in August, it was like pushing a boulder uphill; August, September, October, November. It wasn’t really till November that it really took off. And I had the foresight and maybe just stupidity to order a bunch of inventory in anticipation of Q4 and early on recognize that I could market this product as a gift in addition to just the primary keywords that were related to the product. So that was something that I did very early on and that allowed me to scale too because I was able to secure top positioning for keywords such as gifts for women, top Christmas gifts for women, things like that, very early on. So all of that came from me putting in the hard work of learning and masterminding, I can’t underestimate the power of masterminding as well. I found a small group of; there were all guys, actually, I was the only girl. They are all amazed…

Joe: So you were in charge essentially, right?

Kelly: Yeah, sort of but we just were kindred spirits and we became very close and we would meet once a week and we were all building Amazon businesses, others went on to build SaaS businesses and all other types of businesses. They’re all super successful entrepreneurs and that really made a huge difference in making me feel like I could really do this because I had other people in my corner so that was all.

Joe: There’s nothing more valuable than that and it didn’t cost you anything. It sounds like there are groups that can get together just to help share information or you can join more formal groups like eCommerceFuel or EcomCrew Premium things of that nature.

Kelly: Exactly.

Joe: I think it’s incredible. So let’s talk money; ASM3, launched million dollars in revenue within the first year, you must be rolling in cash flow, yes?

Kelly: No, absolutely not.

Joe: I knew the answer to that.

Kelly: I wish.

Joe: How much did you; other than distributions just to make you feel good to pay taxes that were going to be due, did you put yourself on payroll or take any money out of the business for you and your family?

Kelly: No, not the first couple of years I did not. And I was again, lucky that I had a husband who had a full-time career and that’s the money that we relied on to support our family. So starting this business, that wasn’t the mindset that we were going to do this to support our family. This was hopefully something that we could build into something bigger and perhaps fuel some bigger investing goals and things like that.

Joe: So you would not recommend someone listening quit their job and they’ve got $10,000 and they’re going to do $5,000 to start the Amazon business and live off the rest until revenues start rolling; bad idea, right, because they’re going to run out of money very fast?

Kelly: Absolutely, I would never recommend somebody quit their day job. You really need to start any business, in my opinion, as a side hustle. I mean, even my husband and I to this day, like right now, I’m really getting into real estate investing and he’s getting into day trading and we’re going to wait until we become masters of that and really start making significant sums of money before he would ever consider quitting his job.

Joe: Yeah, good advice. All right, so 2016 rolls around how do things go? Did you have any rocky periods where you thought this isn’t for me or did revenue just continue to climb?

Kelly: Oh, no. There was a lot of rocky periods. So back then there was no brand registry, there was no; just counterfeiters galore and the initial product that I had launched all of a sudden came on everybody’s radar. I can’t remember if by then there were tools such as Jungle Scout or things like that to look at what sales revenue these products were doing. But it definitely; people caught on and started copying my exact listings, the exact product. I mean, certainly, I didn’t have any proprietary rights. The product was a private label product, but definitely, competition grew and revenue; I was able to maintain revenue because I diversified my keyword traffic and wasn’t going with what everybody else is going for. Slowly but surely the market grew. But my market share also grew with it and then declined at some point because so many competitors came in.

Joe: Did your margins tighten; did you have to drop the price too?

Kelly: Yes, I did. I remember actually, so Q4 of my first year of selling, I think I sold that particular product at a price point of I think as high as $35. And now if you were to look at this product on Amazon it ranges between $10 and maybe $17 tops.

Joe: Wow.

Kelly: Yeah, and that happens. I mean you don’t get to; that product was still a winning product by the time I sold my business but I knew that this couldn’t sustain me forever. I needed to obviously continue rolling out products, right?

Joe: And that’s how you combatted it; you continued to roll out new SKUs?

Kelly: Yes, absolutely.

Joe: How did you determine what to do next in terms of SKU expansion?

Kelly: I did make a lot of mistakes there. I launched a lot of products that failed.

Joe: How many? Just out of curiosity.

Kelly: How many failures?

Joe: Yeah, after the initial launch out of the next 10, how many were successes, and how many were failures?

Kelly: I would say I was probably at a 50:50 rate.

Joe: That’s good.

Kelly: I would have liked it to be higher. And I think nowadays, with all of the tools that are available and with the mindset that you have to cut losers quickly; that was my biggest downfall, is it was so hard for me to give up on a product that I spent not only time but a lot of money on developing and then to just let it go. That was really hard for me. I was emotionally tied and that’s one area that if I had cut those losers quicker, I would have freed up my cash flow and been able to expand and scale a lot quicker and more efficiently.

Joe: Let’s go into that a little bit further. Let’s define a loser in terms of products. Is it one that is negative profit-wise or is it at 5% profit where the others are at 43% profit? How do you determine what a loser is and then what action do you take with it?

Kelly: Well, it also depends on the time period. So when you’re launching a product; everybody has their own time frame, but I kind of give it a three-month cycle of pushing it out, launching, ranking it, advertising, heavy on advertising so you’re usually in the red. At least I was okay with being in the red at that point, but then it should start to pick up after that if it’s going to be a winning product. If you’ve done everything right with your launch, and ranking strategy, it should just start to kind of take off on its own, really.

Joe: A three month period is that what you’re okay?

Kelly: Yeah, about three months.

Joe: Okay.

Kelly: At least for me back then. I would say now it’s probably a longer time window. I would say probably about six months. But there becomes this like intuitive sense of you’re still continuously pushing a boulder uphill with your nose rather than it’s starting to gain some traction and go downhill. And so you’ve got to know when is that point to cut it off and it definitely took me a lot of failed products and a lot of wasted money and time to finally realize. Even up until when I sold my business; I mean, the buyer who bought my business, there were quite a few SKUs that he was just like I don’t want to continue with these because these are just not making enough profit. They were profitable but not making enough profit. So everybody has their own standards.

Joe: So yeah, there’s SKU balance that offsets risk. If you’ve got one SKU doing 60% or 70% of your revenue, some buyers will perceive it as more risk other buyers will perceive it as less work, and they like that.

Kelly: Yeah.

Joe: How do you; I mean, if you’re at a six month period now in your assessment of really it takes that long to push that boulder uphill until it’s profitable and then you determine whether or not you get to keep that SKU that you’ve worked so hard on or if it’s not profitable enough and you move on. How often are you launching SKUs? It sounds like you’re probably needing to launch them every couple of months just to keep up and stay ahead of the game. Is that the case or is that something you recommend?

Kelly: Yeah, it definitely depends on your product mix and what your revenue goals are and what capital you have to work with and your cash flow; all those things. But ideally, if you could be launching a new product I would say at least every quarter but there are sellers out there that are launching products every week or every two weeks. It just depends. I did not have nor did I want to have some big, huge behemoth of a business where I had a million employees and I was doing all the product design in the beginning; myself, along with my manufacturers, maybe hiring some outside design people to create changes to existing products to make them better. That was always kind of my MO. And really, you have to have a certain amount of capital that is allocated to new product development and know where that line is because then you don’t want to let your other product suffer either and that’s what’s bringing cash in and keeping the lights on, right? So there’s a fine balance there and I really do think that comes down to cash flow management; knowing your cash flow.

Joe: And that’s something so many people fail at. I probably looked at 8,000 profit and loss statements over the last eight, almost nine years now, and I’ll be honest with you, probably 70% of them are inaccurate; wrong cash accounting, not using Quick Books or Xero, but the audience knows that. I know that’s my thorn in my side. Let’s talk about favorite tools. I mean, you obviously have figured out the Amazon game. You must have used some tools along the way. Have there been any that have stood out that you kind of you think must have? I mean, you mentioned Jungle Scout a few minutes ago. What tools do you use in your Amazon business or recommend as you work with new Amazon owners now to help them fine-tune their business and get it ready to sell?

Kelly: Well, I wouldn’t say I would at this point in time recommend a specific tool because there’s a lot of competitors in the Amazon SaaS space, right? But you want a good tool for first and foremost, keyword research and keyword tracking. So, for example, Helium10 is a great one for that. But there are many others out there that are very good. So I’m not going to say that Helium10 is the best. They are one of the best and I like that tool a lot. And then you’re going to want to have a tool for launching and ranking. These days that’s all about rebates and so I recommend Six Leaf. My good friend Joe Junfola created Six Leaf and he’s got a very new and exciting rebate option in there now and I’m helping my friend Paul Miller with his business in using that.

Joe: Really? He’s my friend, too.

Kelly: What’s that? Yes, your friend too; our good friend.

Joe: Our friend.

Kelly: Yeah, and so if you don’t have outside traffic that you can send to your listings and have like a system for that, you definitely are going to need to do some I would say giveaways but these days that means rebates. And so there are other platforms that can do that but that’s the one I recommend for that. And then Helium10 basically has all the other components that I would recommend, such as product research and keyword tracking. There are so many different tools out there and they’ve all kind of evolved over time and they all kind of overlap and what was most frustrating to me by the time that I sold my company is I had so many different tools. And even though they did a lot of the same functions, one did one better than the other and so I felt like I just had a lot of bloat in there and a lot of things that I could cut out. And so I wish somebody would just like focus on one thing and just do it right.

Joe: Yeah, because if you wasted a thousand dollars a month, that’s going to cost you an awful lot in the sale of your business.

Kelly: Yeah.

Joe: Can we talk about rebates for just a second? I want you to educate me and educate the audience because a rebate to me; from a novice standpoint and I don’t sell on Amazon, I did once upon a time but it’d be a conflict for me now as I see it. Plus, I don’t ever want to import from China.

Kelly: I don’t blame you.

Joe: Yeah, I don’t want to; I was at Helium10 back when it was a man he had Illuminati Mastermind and I was at the event. It was in Cancún and somebody was up on stage and she was literally talking about importing from China, talking literally about the thickness of the corrugated box that your products have to be in. And I swear to God I felt sick three times and I thought never will I import from China. Rebates, you’re giving something away. They’re getting a discount back or they’re doing a review and they’re getting a discount. Explain how it worked because it sounds like it’s definitely against terms of services depending upon how it’s used.

Kelly: Now, I don’t think it’s against terms of services. I mean there’s a lot of rebate services out there now.

Joe: What is a rebate?

Kelly: A rebate is the purchaser gets to purchase the products and then they get reimbursed the full amount usually to be most effective or it could be some percentage of that amount. So traditional retailers have been doing rebates for years. I mean, it’s a very common thing in marketing.

Joe: So there’s no hey, we’ll give you 100% refund for review it’s just buy it and we’re giving you your money back and that improves the algorithm rankings; organic rankings.

Kelly: It’s a keyword ranking strategy. I would not use it as a review strategy; absolutely not.

Joe: Yeah, okay the review strategy definitely gets against terms of services. Okay, thank you. I needed to hear that.

Kelly: I mean, I wouldn’t say it’s necessarily against terms of service if you’re asking for a review after the fact. But it just can be on that blurred line that you could potentially; and I haven’t heard of anybody getting taken down for this but if you were to rebate a customer and then after the fact ask for a review then Amazon could potentially look at that as gaming the system. So you just want to be really careful and I would just recommend that sellers don’t ask reviews for customers that they’ve given rebates to.

Joe: What about is it cheaper or should it be a dual strategy of sending traffic from outside; buying traffic on Facebook that would drive directly using a keyword directly to the Amazon page, is that going to have a similar effect as rebates, cost less, cost more, or would you recommend a dual strategy of both of those or have you not sent traffic from outside sources like Facebook?

Kelly: Well, that’s a great question, Joe, but the rebate is just kind of like the end result of what the customer is getting but the traffic and the quality of the traffic is the most important thing. So a lot of these rebate services that are out there, they’re just for using the same audience that they’ve built on Facebook over and over again. And Amazon now is so sophisticated they can tell that all that traffic is coming from the same source that’s just this incestuous pool. So you really want to be careful of the services that you use. And ultimately, the best way is always to build your own list, to have your own audience whether that’s a mini chat list or an email list or if you’re a master of Facebook Marketing and you know how to target and you know what kind of audiences are really going to go and actually buy your product and if you have enough profit margin built into your product to do Facebook advertising. That’s a whole another thing in and of itself. But for ranking purposes, you need to send high-quality traffic and a lot of these ranking or rebate services you just have to be careful of where they’re getting their traffic from.

Joe: Okay, so far we’ve established you as an Amazon expert; one that’s been there, done that. I had to ask a couple of questions; dumb questions, if you will, to get us to where we are right now. Let’s talk about digital shelf strategy, your business, where you’re going to actually help Amazon sellers. If somebody out there in the audience is thinking that they want to exit their business someday in the future, or if they’re just struggling and they’re barely able to keep up with inventory demands, not taking any money out of the business and they’re pulling their hair out, how are you going to be able to help them?

Kelly: Great question. I started digital self-strategy when I was still a seller because I’ve over the years, I love Amazon. I live, breathe, eat, sleep, Amazon. I still do. And I would get questions from people anywhere from one-off questions to people wanting me to help them with their businesses. And so I have been very, very generous I feel like with my time wanting to help people. But sometimes if it needs to be a little bit more work or more time spent with somebody then I set up this agency just so I could have a way to work with sellers ongoing. And so between that and then another new business that I started with, Paul Miller, Amazing Exits, the consulting piece of that is really helping sellers with being able to look at their businesses holistically and help them figure out what are the strengths and weaknesses of that business. So kind of like a SWAT analysis and being able to help them with the things that are going to really move the needle and increasing the value of their business, whether or not they ever want to sell it because if you increase the value of your business, you’re going to be spending out more cash flow. It’s going to make you healthier in the long run. And then it’ll certainly make it a lot more attractive to a potential buyer someday if you’ve got all your financials in order and you’ve got a really healthy profit margin and ROI and all the other things that go into having a valuable and sellable business. So it’s a one-stop-shop, really, in terms of being able to look at a business, identify what are its strengths and weaknesses. For the weaknesses, we want to connect them with the resources that are going to help them fix those weaknesses and then ultimately be kind of their white-glove concierge along the way to a successful exit.

Joe: And the Amazing Exits Podcast, that’s where you’re going to talk to people that have actually sold their businesses and have those resources, those experts on as well.

Kelly: Yes, that’s going to be both. I mean, we are looking for as many sellers as we can who have exited so we definitely want to have those as guests on. But we’re also featuring top experts such as yourself to talk about exit planning. We’re really trying to make exit planning sexy. This is what I say all the time and to really…

Joe: Good luck.

Kelly: Well, we’re very passionate about it. And I think that if we couch it in terms of making your business more valuable now, like do you want more money now in your bank account and your pocket to feel your life, to feel your investments? Well, that’s what it takes to build a successful business. And you might not ever want to sell it, but you should be building a sellable asset and realize why you’re doing this.

Joe: You’re preaching to the choir. Making exit sexy again or sexy to begin with is; I had David Wood on the podcast and one of his visions was for people that are planning to eventually sell their business to imagine themselves on the beach doing whatever they want because they’ve got enough money in the bank to live off of and that’s the sexy part of it. Or if you’re building a better business, it’s kicking off more cash flow. You are struggling less. You’re able to do the things that you want because you’ve got the money and that part is sexy as well. Accounting makes most people’s eyes bleed. It’s the foundation of understanding cash flow and running your business successfully to get a strong exit. As you know, Kelly, anyone listening that owns any kind of online business at this time odds are that their business is their most valuable asset. Also, if it’s an e-commerce business that’s growing odds are that more than 50% of the money they’ll ever make from that business will come the day that they sell it. All of that combined should kick start them into wanting to do more exit planning or coaching or training or things; whatever you want to call it, just getting in shape. As you want to work out and get your body in shape you should exercise your exit strategy muscles so that you’re in better shape for your eventual exit because you will have a better path to it, a better exit as well, and be better off afterwards so that you can all go on to your next adventures, whether it be start another online business or do what Kelly is doing which is consulting and helping other people or where she was just a few years ago.

Kelly: I couldn’t agree more. That’s so well said. And I would just add to that then, I truly believe, Joe, that one of the fastest ways to build wealth is to build a business and in this case an Amazon business and sell it. And that’s the word that I want to get out to people, is that this is, like you said, your most valuable asset, most likely. And I didn’t retire after I sold my business. I made a nice chunk of change and now I’m able to invest that into cash-producing assets but I will never stop being an entrepreneur. But I have so much freedom; clarity now that I didn’t have when I was on that hamster wheel of running the business. So I want to just be able to express that to other sellers that there is another option to get off the hamster wheel and you can sell and do this again if you want so you’ll have a lot more freedom and peace of mind.

Joe: And cash in the bank throughout though.

Kelly: Yes.

Joe: Great. Kelly, thanks so much for joining the Quiet Light Podcast. I appreciate it. We’ll put URLs up in the show notes for people who want to reach out. Kelly is there any other way that they can or should find you?

Kelly: Yes, absolutely. They can connect with me on LinkedIn. I’m pretty active over there. @KellianneFedio on Facebook and then they can also go toAmazingExits.com and sign up for our email list for when we get ready to launch the podcast later in August most likely.

Joe: All right, she rolled her eyes a little bit here folks for those not watching. She’s got a hopeful goal of August. I think it’s going to be great whenever you launch it. If it takes an extra few weeks is not a big deal. Kelly, thanks for being in the Quiet Light Podcast. I appreciate it.

Kelly: Thank you so much, Joe.

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