Imagine doubling your website traffic just a few months after buying it. It might sound so simple, but the truth is, it requires a strategic approach.
Once more, I have invited Ryan Condie to share his expert advice for acquiring a business and growing its traffic.
Ryan Condie's primary focus revolves around the acquisition, expansion, and retention of online businesses. With a track record of establishing 8 businesses—of which 2 flourished and 6 encountered setbacks—his experience highlights the dynamic nature of entrepreneurship. Additionally, Ryan's portfolio includes the acquisition of 5 businesses, all of which he diligently nurtures while concurrently fulfilling his role as an M&A advisor at QuietLight Brokerage.
We had a conversation about how to partner with someone when buying a business and how to stay partners in business for the long term. What did Ryan buy, and why did he buy a distressed asset? And how did they turn it around to double the traffic in just a few months?
We also talked about how he found the deal and became a better business investor. How do I buy larger assets and build a solid online business portfolio? Lastly, Ryan shares his advice for first time business buyers.
Are you ready to buy your own online business and have a passive income lifestyle? Then, don’t miss this episode. Hit the ‘Play’ button and watch it now!
Episode Highlights
04:59 Ryan’s experience in buying businesses
11:16 Having strong partners by your side
15:04 Partnership that doesn’t work out
19:38 Communication is the key to business
21:14 Business valuation and deal structure
26:51 The good and bad revenue
31:56 Ryan’s piece of advice when buying a business
44:22 Always focus on one thing at a time.
Key Takeaways
➥ Having a skilled partner is crucial for business success, as it provides confidence, expertise, and complementary skills. Ryan believes that a partner who brings diverse strengths enhances confidence in addressing growth opportunities and business weaknesses.
➥ What matters most to Ryan in partnerships is the ability of his partner to accomplish tasks. Time invested is less important than the partner's capability to achieve the desired outcomes, fostering mutual trust and confidence in each other's contributions.
➥ In a successful partnership, Ryan emphasizes the importance of upfront conversations to define roles and responsibilities, using a structured approach to outline tasks and expectations before committing to a business venture. That’s because partners who share similar goals, regardless of age, tend to collaborate more effectively.
About The Guest
Ryan Condie focuses on acquiring, growing, and holding online businesses for the long term. He has started 8 businesses where 6 failed and 2 succeeded. He has also bought 5 businesses and continues to grow these businesses while working as an M&A advisor at QuietLight Brokerage.
Connect with Ryan Condie
➥ Let’s Buy a Business (Website) - https://letsbuyabusiness.com/
➥ Let’s Buy a Business (Podcast) https://podcasts.apple.com/us/podcast/lets-buy-a-business/id1506985601
➥ Ep 149 - Why buy an online business - https://bit.ly/451syyl
➥ Ep 150 - How to get started buying an online business - https://bit.ly/3saUth2
Resource Links
➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com
➥ BOB SEO service - https://buyingonlinebusinesses.com/seo-services/
➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/
➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness
➥ Flippa (Website Broker) - https://bit.ly/3WYX0Ve
➥ GoDaddy (Website Hosting & Buying Domains) - https://bit.ly/3YiRkWV
➥ Credit Suite (Finance Broker - getting finance for websites) - https://bit.ly/3YiEDLZ
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