The Fort #141: James Camp - How to Buy, Operate, Grow, and Flip Websites
James Camp is the founder of Nano Flips, which helps people learn how to buy and sell websites. On this episode, James talks about his young career overseas when he decided to pack up and move to Malaysia, the cannabis industry, and his work in digital strategy before his work in website acquisitions.
Then, James dives into the world of website flipping. He talks about what kinds of sites stick out to him, how he sources sites to buy, the due diligence process when buying sites, and changes he implements to make his sites more profitable. Enjoy!
Follow Chris on Twitter: www.Twitter.com/FortWorthChris
Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com
Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/
James on Twitter: www.Twitter.com/JamesonCamp
James' Website & Newsletter: www.nanoflips.com
(02:24) - James’ Background and What Led Him to His Current Career
(06:03) - How did you end up picking Malaysia and what were you doing while overseas?
(08:53) - What does digital strategy for a McKinsey entail?
(10:41) - What’s the state of Cannabis today and how big of an opportunity is it over the next decade?
(14:32) - Do you have any insight as to when it becomes federally legalized?
(15:42) - What do you do in the world of “Website Flipping”?
(19:29) - Can you frame what a really good business looks like to you?
(24:05) - James’ Focus on E-Commerce Businesses
(26:14) - Are you buying the website that facilitates 3-commerce or the business that only operates online?
(30:39) - How do you find the businesses you want to acquire?
(33:09) - What does a typical contract look like?
(35:34) - Is there hard earnest money when buying a website?
(37:36) - What’s the due diligence process to get you comfortable with a deal?
(40:29) - If you’re buying a $50k website, how much of your attention is required as the new owner in order to make sure it’s functioning properly?
(43:41) - Is it risky to buy something where the new owner is taking over the content creation?
(45:40) - What’s a dream $100k website for you?
(48:31) - Is there any risk in Google or Amazon deciding to cut revenue unannounced through policy change?
(51:42) - What kind of due diligence needs to be done on the code of these websites you’re buying?
(53:30) - What transfers in terms of ownership beyond the domain name?
(55:19) - In a situation with $1m EBITDA and employees in a 60-day closing period, how do you underwrite the people in a short manner of time and determining their future post-close?
(1:00:14) - Do these companies have founder-like people or does all responsibility fall on the FTEs? (Full-time employees)
(1:03:39) - How do you get your message across to teams in terms of what you want implemented without becoming a day-to-day worker in the business?
(1:06:17) - How are deals being financed?
(1:09:35) - How can the average person find low-hanging fruit to improve the online marketing of a website?
(1:15:16) - What’s the biggest risk to buying a website at a $100k level with no employees?
(1:23:10) - Media Reccomendations
(1:26:20) - Contacting James
Twitter: www.Twitter.com/JamesonCamp
The FORT with Chris Powers is produced by Straight Up Podcasts