Ethan is a serial entrepreneur and has successfully built numerous multi-million dollar companies. He has sold and acquired a number of companies, one of which appeared on Shark Tank, and served as a broker for both buyers and sellers transactions’.
Ethan’s true business passion is in the physical product ecommerce space. His industry experience in this realm covers almost everything you can imagine. His background includes operating companies both on and off Amazon, holding inventory and dropshipping, manufacturing overseas and in the U.S., and selling to the U.S. and foreign customers.
Aside from serving as an advisor with the Quiet Light team and managing his own businesses, you’ll probably find Ethan hiking up a random mountain, getting a bit competitive playing a sport, or laughing with his family and friends.
Q&A With Ethan
What is the #1 mistake people make when selling their website?
Many business owners take money out of their pocket by waiting for the last minute to start preparing for a sale. Instead, you should prepare well in advance, giving you time to make slight tweaks in your business that will lead to a higher valuation down the road. During prep calls, I am eager to find these tweaks that lead to future higher valuations. That is very rewarding for me. If you are thinking about selling, even if that sale isn’t for another year or two, I always recommend putting in that call to an advisor, developing a game plan for your future exit, and then exiting at a higher value when the timing is right for you.
What drew you to make your career online?
I saw an infomercial! Well, okay, not quite. I wanted to start my own business and I was amazed by the limitless business opportunities in the online space. Combine that with location independence and I was hooked.
Did you always know that you were going to be an entrepreneur?
Surprisingly, no. I’ve always wanted to help people and I actually wanted to go into the medical field and be a doctor. But in college, I began falling in love with entrepreneurship more and more. This ultimately led to a complete career change and to starting my own company. Since then, I’ve been able to build, sell, and acquire a number of companies, some of which I still run. Now, I can’t imagine NOT being an entrepreneur. Plus, my favorite part, I still get to serve and encourage people with business collaborations.
What is the greatest benefit of helping people sell their online businesses?
One of my personal highly valued priorities in life is spending time with loved ones. If I can help others achieve their financial goals so they have more time to spend with their family and friends, then this is a dream come true for me.
If you could have just one superpower, what would it be?
Teleportation…goodbye TSA lines and tiny airplane seats!
What is the best bit of advice you ever received?
Schedule time to stop running the company and start building it.
If you could have dinner with just one person (they don’t have to be living), who would it be?
Jeff Hoffman (the founder of Priceline, not the MLB pitcher). I always find myself writing down at least one quote of his every time I’ve heard him speak. So I know I will need a stenographer with me if we have dinner together.