You don't need prior experience

Most people don’t fail at buying a business because they’re not smart enough.
They fail because—without realizing it—they’re setting themselves up to lose before they even begin.

In this solo episode of the BOB podcast, Jaryd Krause goes off-script and gets brutally honest about the real reasons people struggle to acquire online businesses, and why these same patterns show up in money, business, and life.

This isn’t a tactical “how-to” episode.
It’s a mindset reset.

Jaryd breaks down the five biggest reasons people fail at buying a business, drawing from his own journey, his work with buyers around the world, and the patterns he sees repeatedly derail otherwise capable people.

You’ll learn:

• Why you don’t need to know how to run or buy a business before acquiring one
• How “good” advice becomes dangerous when you treat general guidance as personal truth
• Why most people are mentally unprepared for the acquisition process—even when they have the money
• How impatience and unrealistic timelines quietly sabotage deals
• The uncomfortable truth about why wanting a business isn’t enough—and when change only happens out of necessity

Jaryd also dives into cultural differences, ambition, pain as a driver of success, and why some people push through every obstacle while others stall indefinitely.

This episode is raw, reflective, and unapologetically real.

🎧 Listen in—and ask yourself whether you’re setting yourself up for success… or failure.

Episode Highlights

01:00 – Why most people unknowingly set themselves up for failure before they even start

06:55 – Myth-busting: Why you don’t need to know how to run or buy a business before acquiring one

10:45 – The danger of “bad” advice and why most guidance is general, not personal

13:55 – Why copying someone else’s timeline almost guarantees failure

18:30 – How unrealistic goals quietly destroy confidence and momentum

20:45 – The mental reality of buying a business and why most people aren’t prepared

24:30 – Patience vs. pressure: why counting inputs matters more than counting time

28:20 – Want vs. necessity: the single biggest reason people fail to follow through

32:40 – How pain, fear, and discomfort actually drive ambition and success

Key Takeaways

➥ You don’t need experience to get started. Most successful buyers had never run or bought a business before their first acquisition. Skills are built during the process—not before it.

➥ General advice becomes dangerous when taken as personal truth. What worked for someone else may not work for you due to differences in time, resources, credit, life stage, and risk tolerance.

➥ Unrealistic timelines create avoidable failure. Comparing your progress to others—or forcing artificial deadlines—leads to disappointment, self-doubt, and unnecessary quitting.

➥ Mental readiness matters more than capital. Buying a business requires patience, resilience, and the ability to handle rejection, uncertainty, and long stretches without visible progress.

➥ Preparation is psychological, not just financial. Due diligence, deal flow, and negotiations are mentally taxing—especially at lower price points where fewer systems and advisors exist.

➥ Stop measuring success by time. Measure inputs instead. Track actions like deals reviewed, conversations held, and due diligence completed. Progress compounds through consistent inputs, not arbitrary deadlines.

➥ Setting the bar too high too early damages confidence.  Low, achievable goals build momentum. Repeated “missed” goals—even small ones—erode belief and motivation over time.

➥ Wanting a better life isn’t enough—necessity creates action. True follow-through happens when change becomes non-negotiable, not optional.

➥ Pain and discomfort are powerful drivers, not problems. Ambition is often fueled by frustration, fear, or dissatisfaction. Learning to harness that energy is key to long-term success.

 Resource Links

➥ Connect with Jaryd here - https://www.linkedin.com/in/jarydkrause

➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com

➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/

➥ Sell your business to us here - https://buyingonlinebusinesses.com/sell-your-business/

➥ Google Ads Service - https://buyingonlinebusinesses.com/ads-services/

Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥

➥ Empire Flippers - https://bit.ly/3RtyMkE

➥ Flippa - https://bit.ly/3wGa8r5

➥ Motion Invest - https://bit.ly/3YmJAmO

➥ Investors Club - https://bit.ly/3ZpgioR

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