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WHO IS THOMAS SMALE?
Thomas Smale built his multi-million dollar company with zero funding and from the ground up. The journey to his success is full of exciting lessons and learnings.
In this article, you will get to know more about Smale by knowing some things that the public does not readily know.
Smale Moved His Company from London to the US
The main reason for the move is that he liked how more direct Americans were compared to Brits when it comes to business. Even if he is originally from London, he has come to appreciate how people from the US did their business.
He Was Buying and Selling Domains in College to Make Extra Cash
In an interview, Smale said that he bought domains on eBay by maxing out his credit card and then selling them for profit. It was something he did to earn extra cash. We would do this monthly, so he learned the ropes early on before even starting his company.
He also wrote a book about, it which was why people came to him asking him to sell their websites. The biggest sale he had then was around $3000. He said that earning that kind of money made him think that he could scale the business.
He Specializes in Online Business Acquisition
Smale jokingly said that the real investment he has in real estate is that he owns a house. He sees to it that he is the best in the niche that he is working in. He is confident that he is one of the best people to buy and sell online businesses.
His company handles over 100 to 150 clients every year, and among them, he and his business partner would buy at least one business for themselves.
He Launched a Course Teaching People to Do What They Do
They launched eCourse in 2010. It was focused on teaching people how to buy and sell websites themselves.
This did not just help others; FE International also was promoted along with the courses. Sometimes, the student would say that they loved the content, but they would still ask Smale and his team to sell the website for them.
So they did both: teaching people how to buy and sell businesses. They, themselves, were also buying and selling businesses, and they were brokering.
Smale Believes that Word of Mouth Promotion is a Sign of Good Business
If you get word of mouth business consistently, Smale said, that is a good indication that you’re doing things correctly. This is because brokers and advisers get a bad impression. After all, honestly, there are many bad brokers.
What’s more, is that you can be a broker at your own home without any prior experience. This is why FE International’s approach is that they have to sell people first on working with them before getting down to any business.
They Do Not Have Formal Sales Training Internally
The reason they don’t have training sessions is that they want to be as honest as possible to the people they are working with. They have always prided themselves in giving the right advice, which means telling their clients to walk away from a bad or a wrong deal, he said.
Temptations are there because of the amount of money that salespeople may earn, but they ensure that they put the client’s success first before any other priority. This led to the 95 percent success rate for all the businesses they take on. This is all thanks to the honest expectations and the proper communication between the clients and the company.
Conclusion
Thomas Smale is proof that business also includes adding value to the clients and creating systems and processes in the company to be fast and efficient. What are your current processes and systems that you’re proud of? How have they helped your company grow?
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References:
Turning a college hustle into a successful business with Thomas Smale – Data Beats Opinion
