How to Build and Successfully Exit Your Private Label Business
February 17, 2021
Here’s a glimpse of what you’ll learn:
- Idan Barzilay’s thoughts on the recent spark of interest in purchasing FBA private label businesses
- Idan’s advice to entrepreneurs who are starting a business with the goal of eventually selling it
- Why Idan decided to sell his business, Bnext, and what he did to prepare it for a sale
- How Idan plans to generate more growth for his new business based on the lessons he learned from Bnext
- The advisors, professionals, and consultants Idan worked with to get his business ready to sell
- The good and bad surprises Idan experienced while selling Bnext
- Idan discusses the process of selling and transitioning his business
- How to build a business that will still be scalable after it is sold
- The third-party software tools Idan used to build his business
In this episode…
Even before the COVID-19 pandemic hit, the e-commerce industry had been growing exponentially for a number of years. Now, thanks to even greater demand caused by the pandemic, the interest in FBA private label businesses is at an all-time high. More and more investors and aggregators are purchasing these Amazon brands for large returns—and it doesn’t look like this trend is going away anytime soon.
This was the case with Idan Barzilay, who successfully sold his e-commerce business, Bnext, in 2020. Although he didn’t start his business with the intention of selling it, he grabbed the opportunity when it presented itself—and made a big return by doing so. Now, Idan is using the lessons he learned from this exit to effectively build, grow, and scale his next business. So, what is his advice to Amazon entrepreneurs looking to prepare their businesses for a sale?
Idan Barzilay, the Founder of Bnext, joins James Thomson in this episode of the Buy Box Experts podcast to share his experience building and successfully exiting his FBA private label business. Idan explains how he prepared his business for sale, the professionals who helped him take it to market, and the unexpected discoveries he made during the process. Stay tuned.
Resources Mentioned in this episode
- Buy Box Experts
- Controlling Your Brand in The Age of Amazon: The Brand Executive’s Playbook For Winning Online by James Thomson and Whitney Gibson
- Helium 10
- Jungle Scout
- Disruptive Advertising
Sponsor for this episode…
Buy Box Experts applies decades of e-commerce experience to successfully manage their clients’ marketplace accounts. The Buy Box account managers specialize in combining an understanding of their clients’ business fundamentals and their in-depth expertise in the Amazon Marketplace.
The team works with marketplace technicians using a system of processes, proprietary software, and extensive channel experience to ensure your Amazon presence captures the opportunity in the marketplace–not only producing greater revenue and profits but also reducing or eliminating your business’ workload.
Buy Box Experts prides itself on being one of the few agencies with an SMB (small to medium-sized business) division and an Enterprise division. Buy Box does not commingle clients among divisions as each has unique needs and requirements for proper account management.
Learn more about Buy Box Experts at BuyBoxExperts.com.
Podcast Episode Transcripts:
Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.
Welcome to the Buy Box Experts Podcast where we bring to light the unique opportunities brands face in today’s e-commerce world.
James Thomson 0:18
Hi, I’m James Thomson, one of the hosts of the Buy Box Experts Podcast. I’m a partner with Buy Box Experts and the former business head of the selling on Amazon team at Amazon, as well as the first account manager for Fulfillment by Amazon program. I’ve written a couple of books about Amazon, including the recent book Controlling Your Brand in the Age of Amazon. Today’s episode is brought to you by Buy Box Experts. Buy Box Experts takes ambitious brands and makes them unbeatable. When you hire Buy Box Experts, you receive the strategy optimization and marketing performance to succeed on Amazon. While we work with brands we also support investors with due diligence services. Go to buyboxexperts.com to learn more. Before I introduce our guests today, I’d like to send a big shout out to the team at Disruptive Advertising. For off Amazon advertising, Disruptive Advertising offers the highest level of service in the digital marketing industry focusing on driving traffic and enterprise analytics. Disruptive helps their clients increase their bottom line month after month. Go to disruptiveadvertising.com to learn more. Today, our guest is Idan Barzilay, the founder of Bnext, a private label brand of virtual reality headsets and toys for kids. After growing this business over two years on Amazon, eBay, sears.com, walmart.com and other channels, Idan sold his business in 2020 to an FBA aggregator. We welcome Idan today to the Buy Box Experts Podcast to learn more about his journey from idea to sale. Idan, thanks for joining us today.
Idan Barzilay 1:52
Thank you for having me.
James Thomson 1:53
I’d like to start with the question around his private label Amazon businesses. They’re a very high commodity today. And they’ve been around for 20 years since the start of the Amazon Marketplace. What do you see as happening that’s created all this new interest around investors jumping in and buying FBA private label businesses?
Idan Barzilay 2:15
That’s a good question. And I can only say, you know, speculate, and also out of my experience, but like what happened in the market in general. So I’ll start with the general conditions, I think, which I think contributed to the rise of these businesses. Even before the corona there was a shift of interest to the e-commerce, market and niche. And I think the corona kind of made many people understand that online marketing and e-commerce is the future, besides the fact that it made people forced to buy more online, because they need to stay home. And it also made another impact that lasts longer than the M in a way. And maybe people that still not, they never tried buying online that I used to buy offline for the first time. So even if you know after the corner, and right now we have the vaccine, so it’s going to be or still many people that got exposed to you know, buying online probably will stay there and I think that many investors and and can understand that and understand the trend and and want to be there in advance. And I I think today, the next year will be very good for the dairy farmers market. And specifically because it’s a huge barrier in the US and around the world.
James Thomson 3:47
Let me ask you Idan. When you started your company a couple years ago, were you already planning on building it up so that you could eventually sell it?
Idan Barzilay 3:56
No, definitely not. When I started my business, it was three years ago with a partner three and a half and then two years ago, all over again by myself after we decided to leave to go our separate places. And in both of these times. It never crossed my mind. Because nobody was doing that, at least nobody. Not not. Not me. significant percentage. Yes. Okay, the first case of somebody selling an Amazon business that I heard of, was the fact that I think a year after I started my second business. So no, it never crossed my mind. I guess that if it had I probably would have done things slightly differently, you know, prepare myself more more smoothly for the transition. Yeah, but like a year into the game, but again, we take my second business, I think that people are doing that and the sad thing about it, yeah.
James Thomson 4:54
So there are some entrepreneurs who get into business, and on day one, they’re already thinking what do I need to do? eventually sell my business, when you realize that there was the potential to build something up and then sell it somebody would actually buy this business. What did you start to do differently? In terms of how you ran your business?
Idan Barzilay 5:14
And? Yeah, okay, good question. So basically, you want to be, and that’s what I’m doing, that is also what I’m going to do. Now, if I start another business already oriented to the state, the first thing that I didn’t do in the beginning is try to separate everything, either a company that had other revenue streams, and I was just thinking, Okay, I must understand that a revenue stream. Yes, yeah, it’s possible to do it this way. But it’s much more comfortable here. And different a legal entity, different bank account, different employees, different domain, because I had to migrate my domain to the, to the buyer, and I ended up right now I’m using a new email a new domain, and I guess, I’m probably losing still some, all the connections that I that weren’t that aren’t updated. So I think a separation is the one thing, make it like a smooth transition. And second, another thing I can think of is trying to create as much value as possible. And it’s true, regardless if you’re about to sell yourself, but it’s even more important, if you are trying to sell yourself, think about the buyer, he has many options, right? Many people are trying to sell their businesses, if you can offer added value, it can give you an edge over data centers, for example, if you have a strong brand presence, if you have a specific niche, you you can then you You are very, very strong in this specific in a specific niche with a couple of books. If, for example, you have a lot of recipes, and which are what we call standard operating procedures, they are how things are done in your company. So the buyer knows it’s easier to shift information from your end on your site to his that he for example, that your employees are already overseas employees, which you might be using, are willing to transfer once the purchase is done. And exclusivity contracts with the suppliers. Now create, if you manufacture new products, and you have exclusivity contracts with the suppliers, it’s very, very important to add this clause that say that if you sell your business, then the contract is solved with the business to the to the third party that was I had this and that my buyer really, he was really satisfied with me. And so all of these things, you can just pretend you’re a buyer think what you would write, but you would like more or less intuitive in many cases and just try to act accordingly and be all organized and ready to to do move. And I also know your business, which means I understand the buyer is going to do due diligence. So he will ask many questions then if you are organizing, you know everything events that he had and what are your expenses and your percentages, then your EBITDA, it will make everything smoother.
James Thomson 8:19
So tell me about what happened when you decided, Okay, I think I’m going to see if I can sell my business and talk to me about those first few weeks, when you finally decided, I think I think I’m going to try to sell this.
Idan Barzilay 8:33
So when Yeah, the first time this idea went through my mind. The first thing I did was I talked to people who did it either and did it themselves or heard people doing it on yourself? What’s the procedure? What’s the process by these businesses? What is the multiplication? How do you know to calculate the specific profit that is used to calculate the value of the company because it’s not exactly something similar to EDA, but in Amazon businesses. As far as I understand today, we use them, we use a profit that is called SDE. It’s a bit different. But again, if you consult someone that knows he gives you like he can maybe give you some tips about how to calculate these to the profit and how to proceed. Do you do it yourself or with a broker? And what do you expand on what’s the expected time for this entire process? And what’s a good time to sell your business and just gather information, talk to people who know what you’re doing, people who did it in the past, and that was the first thing I did.
James Thomson 9:49
So you went through the process. You started to figure out what you needed to do but also what your company might potentially be worth. There’s that initial I’ve talked to many sellers who They realize, oh my goodness, my company’s worth a lot more money than I thought. I’ve only been generating x. But someone’s willing to pay me a whole lot more than X to buy my business. And in your mind, there’s this discussion around, well, do I wait a little bit longer and build a business up and try to get more money? Or is it good enough now that I’m ready to exit the business? How did you make that decision in terms of how much longer you would work on building the business versus how much time you would spend to actually get around to selling a business?
Idan Barzilay 10:31
And well, an individual point of view, was that when should I do? If I understand your Yes, your question where there’s
James Thomson 10:43
just two parts, there’s two parts. One is realizing your business is actually worth potentially more than you thought it was. And then secondly, saying, Okay, now that I know that it’s worth somewhere in that ballpark, do I want to work on this for another year and build it up even more? Or do I say the number that is probably around what I could get for selling? This is more than enough for me to say, I’m done with this headache? I want somebody else to take it off my hands. Yeah, I want to move on to something else. Yeah, okay. I see. For me, understanding the value of my business was very important, but it wasn’t them. defining factor. For me, it was more how much okay, the reason I sold my company was, it was a combination of two of two reasons. One, I was offered to join in a different business than to run on a different scale. Yeah. And I had to do my free time, like, it was a full time job and a full time venture. And so I, I had to sell but besides that, I wish the size, which in order to grow more, it requires, it requires a change in the structure of the business. And that is something that takes, there’s like, there’s like a curve of efficiency. And usually, if you have this Lean management, if you like, one entrepreneur with, let’s say, one to four full time employees, and maybe a couple of employees overseas, you usually can reach the seven figures, given the high end of the seven figures when it comes to revenue wise, yearly, yearly revenues. And most of the people I know are eight figure sellers, and a lot of them are the vast majority who had to change their structure to work more like a growth company in departments. And it’s something you need to understand. It takes an extra excitement and more expertise in management than, you know, being an entrepreneur, or, you know, launching your product. And so for me, it was the combination of both I reached the mid range of the seven figures, revenue wise, and I had to sell because I had some free time. And I just said, Let’s, let’s do it now. And if I were to stay in and try and make, try to increase my revenues, I probably would have had to, probably had to change the structure of the company to be more time consuming and much more effort, which I would obviously do eventually. But it felt like the right time to capitalize on their potential. And you can also restart, you can also you can always reboot and do it again, on a bigger scale. Once getting the cash out, and you have the funding and didn’t know how to do it.
James Thomson 13:25
One of the things that I’ve seen with brands that have recently sold to some of these investors is that the investors come in and they put not only a lot more staff on the business, but they’re also in a position to invest more heavily in marketing dollars, looking for ways to help the brand, spend, spend to grow, versus bootstrapping everything and saying, well, we only have so much money to keep doing what we’re doing. Do you anticipate that with your next business now that you have more know how more experience but also more working capital to start the business? Do you envision that you will tackle the problem in a different way in terms of how you create growth for your business?
Idan Barzilay 14:04
And I Yes, well, the main issue I had when I had my business was the cash flow. I think like many people because if you always want to grow, sometimes you always have these challenges. And one of the one of the things that then part of the impact it had was lack of inventory crucial moment and the left inventory can cause one of the one of the of the following two things either you are out of stock and you just don’t sell and you lose revenues or like what I did, which to compensate by shipping things. Shipping products in Express Express shipment a step by sea. Yes, cost much, much more. So I actually ended up calculating how much I spent for these air shipments that I was thinking oh my god if I had the cash flow to fund this inventory and shipping by sea could have saved their fortune. So I guess they’re for it better for your question, what I will do differently is I will probably handle the inventory better, because now I have gained more cash flow, now probably be able to capitalize this in a more efficient way. That’s one of the most basic things bigger companies do when they purchase you is m, or reorganize your supply chain management and inventory based on their capital and their capital, which is usually not that limited as yours. They’re doing better work when it comes to PPC, in other general efficiency. Usually, Amazon entrepreneurs really know how to do their job, but they’re but the cash from their problems. So the first thing they do is they change the movies when they buy.
James Thomson 15:48
So let’s go back to the process of when you were at the point that you said, Okay, I think I’m gonna sell my business. Talk to me about the kinds of consultants or advisors that you reached out to, to actually get the paperwork ready to actually get your business prospectus. Ready. Did you use a broker? Did you use other types of consultants?
Idan Barzilay 16:06
Yes, I use a broker I use for sure that it’s a broker based based broker. And I talked to people before about like, recommended ways to stay latest I decided to ask around, like out of experience. And yeah, I’m, I’m, I’m very happy with the choices I made. And when it comes to a broker, and the lawyer, lawyers, and then another, and service provider you require when you do this, then when you get into this process, and an accountant that knows, you know, taxation, especially, you know, between different countries understand as well to accompany different countries. So yeah, I was just taking away I’m gathering the right people around me that people who already did it in the past, and then I was gonna, did you
James Thomson 17:00
end up needing to work with a sales tax advisor or an estate planning advisor, or someone who could help you make sure you got the most dollars out of out of what you were paid, but also make sure you didn’t have any tax liabilities from your company, or anything like that you
Idan Barzilay 17:15
have to address? And, yeah, partly partly due to my accountant, he also paid a tax advisor also grants. Yes. I just had a couple finishing things, probably what I should do, he actually asked to see my contract , the purchase pump, it’s when you sell an Amazon business, many times it’s just the asset. It’s not the company itself. So it’s an APA, asset purchase agreements. Yes. So he was going through it, he was looking for all those clauses, and he gave my Give me the text is,
James Thomson 17:56
Did you end up evaluating multiple brokers before selecting one? Or had you been introduced to the broker?
Idan Barzilay 18:02
And we kind of knew the broker personally. I kind of foster them. Yes. But you know, looking back, I’m very happy, very pleased with my choice, I would have chosen them again.
James Thomson 18:15
Okay, so you picked a broker? Tell us what happened in the next four to eight weeks? Once you engage with a broker? What happened in terms of getting your business ready to go to market?
Idan Barzilay 18:25
Depends on the broker, the specific broker, they asked for a lot of information where it was like a month, a month and a half of just, you know, asking for more and more information more and more. Yes, I didn’t even know existed. And allegedly, I am supposed to be like an expert. But the other small reports never download, we never generate, at a certain point, it was a bit too much. And I just, it was a bit exhausting. So I said can I just apply them to the ICC my employee and I told him from now on the stock directly to him, I’m done, I cannot find time to do this any longer. So at least the final result was was impressive, I got the same presentation of my business, the one day is sent to a potential buyers and it was great of information they could ever, you know, think dream of and actually information, even a little bit of information I didn’t know about my my company, which is interesting. So that was like the first day of four to six weeks. Okay, once everything is done, and then they start sending it out to potential buyers.
James Thomson 19:30
So I want to split apart the happy surprises and the unhappy surprises that you experienced while going through this process. And you talked about there was information that you needed to pull that you didn’t even realize about your business, where there are other steps in this process that you found unexpectedly harder than you anticipated.
Idan Barzilay 19:49
A hey, yeah, I had a personal profile case, which I don’t think will repeat but I actually submitted reports on it. In January, beginning of this year, is January and then in February, it was already good to go to other buyers. And in the middle of February, a buyer wanted to go and see that presentation. So he said, I want to meet the guy behind that. The business we had a zoom meeting, and he already said, Okay, um, we are here. We are interested in purchasing you an offer the following day, which I accepted. And we formed an noi. And then at the end of the month, we’re just before we sign it, or just the day we’re supposed to sign, Corona heat is reading the okay. And okay, and his investors pulled out a indianic was it was, so that was, like, maybe a bad surprise, but I don’t think it would happen again. And now, let’s look at another bad surprise. And I encountered the fact I forgot a lot of expenses, not the last one, but one major one in the billionaire, because I was looking at the bank account, and one of the expenses came from a different account, like a PayPal account, which I forgot existed. So I had to change the p&l, the profit after we signed, you know, right away, and I felt very uncomfortable about it. But I just explained it, the real reason that I forgot what happened, we just adjusted the numbers, and then we just the price and the valuation and proceeded with the deal. And when it comes to good surprises, and the fact that he didn’t sell the business in Ghana, February ended up to be a very positive thing, because that’s a very crucial, and I’m gonna I’m, and I’m urging everybody to do if you’re about to sell your business and keep maintaining the business and develop it as like, like, everything is normal, and you’re not about to sell the business don’t ever stop. Yeah, right? I’m about to study, it doesn’t matter. Don’t tell your friends, I didn’t tell anybody. But my friends or my family, and I kept doing everything just and as always, I didn’t change anything in my behavior. And when the deal. And when the deal got cancelled, it was just a small bump in the road, nobody was around me to, you know, ask about it. I just kept, you know, I had like one day morning, if that regularly, and that was a good thing. The business kept on performing well, and then the corona increased the sales significantly, but I was selling toys and gadgets and people stayed home. And they were purchasing them online, and then margin everywhere, extremely good. And their valuation went up. And I ended up selling the business in a higher evaluation. And so I gained a lot. And also the buyer gained a lot because it was not just March and everything was good. But May and June were great also. And he got some benefit from that. So we cannot, there were like four months of you know, the one time and we kind of speed them in between ourselves. And we both ended up profiting from this a lot.
James Thomson 23:15
Talk to me about what happened when you finally picked the seller. So you finally picked the buyer and you finalize the contract and finalize the date of handover. And what did the transition process look like? How long did it take what was expected of you? And tell me about that experience?
Idan Barzilay 23:32
Yeah, and the same process starts with due diligence, if I remember correctly, and why then does the buyer want to check that everything you said is accurate? Well, the first thing is the signing of the ROI letter of intent. And you agree on the price. And all day, you know the main bullet for the conference that you’re going to assign and later on just you know, a summary summary of the future. And then and the due diligence a start. And it’s I guess around a month, and more or less, at least all the information and then the sum depends on the buyer. If somebody has even asked to speak directly with your employees as standby orders for you to translate your bank statements for them to their limits to see what you were paying for what some buyers, everybody has to see your account from the inside to really get to see and to go over your financials. It’s very easy. It’s not very easy, but it’s easier to to do aggregations for an Amazon account because once you give them permissions to your account, they kind of see the majority of the things and the other things they need to see is you know talk to your suppliers and see that day and what the prices you say the product costs are the right prices and all these things. It takes time but not as long as it should. It couldn’t be an if it wasn’t like an online company. So that’s like the first phase of pretty much a double check, verify everything you said financially. After the diligence part, you sign the contract itself with the final with the final details. And then the contract bounces between you and the end buyer throughout the diligence process, not to waste time. And then you say, at the end of the revisions, and they deposit the payment to an escrow company, again, what I’m describing is not what happens always, but it’s very, very common. So it usually happens. Once the contract is signed, diligence is over, and the funds were deposited, we have with the escrow company, their migration process starts, you actually transfer all the operation to the buyer, which is transferring the, the, the websites, the domains, the everything, that trademark ownership. And all this TV and the Amazon accounts and transferring the legal entity and the email of your Amazon account to somebody else really is a significant moment. This specific ministry is when you realize you’re setting your account, when they get in control. And then they become the main user of the account. And they change all the details, you’re breaking current legal entity, main email, everything that they control. And that’s the migration process. It’s much shorter than the details are much much older by but it is sorted, I’d say a couple of weeks. And once they have everything and the migration process plan was there, he’s finished. And the economist’s time the money was deposited to the escrow company. And now they just want a short period of time. And we would share with you what they call inspection in this inspection period, you just want to make sure once they have the wheel, and nothing dramatic happens, nothing that you weren’t fabricating results, or any artificial way. But it’s a very short process, let’s say a week. And the inspection process is over so everything is good to go. They informed the escrow company and everything is over and the escrow company transferred the funds directly to you. And you’re done more or less sometimes, yes, given most of the time to have like a pool of hours where you can escort them if they have questions. Right? Actually, I didn’t mind and I think I ended up supporting them for a much longer time than they required they asked for in the contract. And that’s it. And you know, it actually didn’t stop looking at the account. Because in the beginning, we still have you know permission to the one to have permission to see because they want you to tell them if something is wrong if you think something is wrong. And in the beginning, you checked all the time it used like four or five times a day and then gradually, slowly started taking the message. Do you realize it’s not yours anymore?
James Thomson 28:03
There’s so much time on my hands now I don’t have to. So, in light of this experience, this is the first time you’ve sold an Amazon business. What advice would you give to someone who’s starting off building an Amazon business today, in light of what you saw, and granted, it’s one experience in light of what you saw, what would you tell people to do differently than what you did so as to make the process of building something up, that’s worth selling. And then making that sales process smooth, but what are all the different things you do differently
Idan Barzilay 28:37
and so I can have a think more or less mentioned them throughout this conversation without summarizing them again. So try try to be as organized as you can like, everything is separated this business is like by itself domains, bank accounts and everything and try to concentrate on extra value to your product, which is if it’s a specific niche or an expertise, create as much value as you can when it comes to contract correct. The sob is exclusivity specific everything and obviously have a trademark registered as it is I actually registered my trademark not only in the US but also in Europe because I was selling in Europe and also in China because you have those cases where the Chinese starting to can give you a hard time but as long as you pay if you have it registered in as many countries as possible to be better and then and never hide things from the buyer and the buyer we’re gonna find out and you need some honesty is extremely important. So if you have all those gray areas fixed don’t be alarmed by them and most likely are aware of these stair tweaks and yes, probably want to know what you’re doing. Maybe even want to do it themselves, but don’t they hide information? And, and that’s it and then when you get an understanding is going to be at least a year or two before you can, you can be able to sell the business unless it’s a very rare case of spread after a base. And then that’s, that’s it.
James Thomson 30:17
Let me ask you this Idan, you built a business and you sold it. But what advice would you give to a brand builder, in terms of being able to build a business that’s still very scalable, after they sell it? The company that buys your business is going to want to grow the business. So you don’t want to take all the growth potential in yourself? And how do you leave opportunity in the business for someone to come along, invest more and continue to grow the business?
Idan Barzilay 30:44
A question I asked him, you know, depends on what kind of business you know, there are many businesses which are like, you know, scattered all over the place, they can tell you no, turn against a toy. And they can do that. In a business like these. As scanning it is a bit more challenging, I guess you can either em, go to different marketplaces, you can, I went at a certain point from Amazon, USA to Amazon Europe, which was very helpful, a or you can and lunch variation of the product, that’s more or less, I think what you can do when, if you’re this kind of business, if you’re, if you’re the kind of business, which has, like an expertise in a specific niche, and then you someone who was doing just that. And so you can, if you let’s say you have like 10 products in a specific niche in the kitchen, you probably have in mind the next four products that should belong, I assume you do, because that’s the niche, that’s what you can breed. So just, you know, try to describe them, and, and maybe have some numbers and figures that show this to the buyer. And that will also be an added value. If you give him a short roadmap of what the future holds. And like, I’m doing this, this and that. And I’m probably going to, if I were to, you know, stay in two pieces, I will do this and that it would increase the business by 10% by 20%. And just hand it over to the buyer. And I think it will be extra value for the buyer. Excuse you if you have a specific expertise in this kind of technique.
James Thomson 32:23
What do you want to see from this brand that you’ve sold? What do you want to see in the future?
Idan Barzilay 32:27
And well, they It was a dominant brand in the specific categories it was invested in, I want to see them, you know, staying these, these dominant as, as I was, I guess they are at least until now not checking them that big of a deal. But it is happening. I don’t see them as launching new products. So I can expect them, you know, growth when it comes to new products that we’re supposed to add? Not really certain. So I guess just being dominant is always in the same category as the broadcast always.
Well, James Thomson 33:02
I want to ask you one last question for our time together today, when you think of the different types of third party software tools that you use to help build your business and share with us some of your favorite tools that you used.
Idan Barzilay 33:16
And I use a lot of Google Sheets like Excel. I’m an Excel guy. So I ended up using it for the majority of the time. I do a lot of spreadsheets and a lot of you know my calculations there. But when it comes to software, they do use the classic software I think most of the people use. And for example, I use Helium 10. And I used to use the center legend and Jungle Scout. I used also and there’s another one or these are the ones I frequently using the best one and there’s another one which I’ve kind of forgotten along. And I think Helium 10 what one thing the less common in the best period of my business, Helium 10 started launching more and more solutions that kind of covered other solutions. So they need extra offers reduced over time. They’re doing a good job. Yes. And so these are the main the main tools that we use are
James Thomson 34:28
Very good. Idan, I want to thank you for joining us today in the Buy Box Experts Podcast. We look forward to hearing about your future ventures. Good luck and thanks. Thanks for your time.
Idan Barzilay 34:37
Thank you for having us.
James Thomson 34:39
And now to finish today’s podcast, I’d like to share some final thoughts. For third party sellers to be successful on Amazon, a critical lever will be soliciting feedback from customers. We at Buy Box Experts are really big fans of the team at eComEngine and it’s tools that help Amazon sellers to simplify the process of messaging customers on Amazon orders. To learn more go to ecomengine.com. And with that, I want to thank you for listening today and I look forward to joining you next time on the Buy Box Experts Podcast.
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