Current Online Business Conditions with Jaryd Krause
May 31, 2023
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Jaryd Krause, a fixture in the online business community and host of Buying Online Business Podcast, discusses the current state of online businesses, importance of having a vision, grinding on the side, and his journey from being a plumber to starting an online business. They also touch on topics such as the handoff process when selling a content site, the state of online business acquisitions, different types of online businesses, unconventional money-making methods, and the importance of scaling a business.
Choosing the right business model based on expertise and goals is crucial in online business acquisitions.
Recognizing untapped opportunities and leveraging personal strengths can lead to innovative and profitable ventures in the online business world.
Deep dives
Business Acquisition and Online Ventures
This podcast episode delves into the realm of business acquisitions and online ventures. The host, Brian Condy, shares his own experiences in buying and selling businesses and provides valuable insights. He introduces a guest, Jared Jaracrouse, who is an expert in buying online businesses. They discuss the current state of online businesses, including e-commerce and content sites. The impact of COVID-19 and the subsequent increase in interest rates on businesses is explored. They touch on the buying trends and multiples in the market, highlighting a recent deal in the content business niche. The episode also emphasizes the importance of having a clear vision and dedication to overcome the initial challenges in entrepreneurship.
Stepping Stones and Selecting the Right Business Model
The podcast highlights the importance of selecting the right business model based on individual goals and knowledge. It highlights the need to assess one's expertise in digital marketing and e-commerce before diving into buying an e-commerce business. For those lacking the necessary experience, starting with a content website is recommended due to its potential for passive income and lower complexity. The discussion also touches on other business models, such as SaaS businesses, and encourages leveraging unique skills for specific ventures. The episode concludes with a reminder that buyers should consider the scalability, competition, and risk factors associated with different online business models.
Unconventional Ways of Making Money Online
The podcast sheds light on unique and creative methods of making money online. One such example is flipping items purchased from yard sales and selling them on Facebook Marketplace. The host shares an intriguing story of an individual who achieved significant income through this approach. While this method may not be highly scalable due to its local nature and personal expertise, it highlights the importance of recognizing untapped opportunities and utilizing local platforms for online monetization. The episode emphasizes that thinking outside the box and leveraging one's strengths can lead to innovative and profitable ventures in the online business world.
Building a Vision, Grinding, and Adaptation
This podcast episode discusses the journey of building a vision, grinding through challenges, and ultimately achieving success in the online business realm. The host and guest share personal experiences of working tirelessly to achieve their goals. They discuss the importance of having a clear vision and repeatedly focusing on it to stay motivated. The episode highlights the initial hustle and dedication required, accompanied by the need for balance and adaptation to avoid burnout. The conversation encourages aspiring entrepreneurs to persist and evolve, while acknowledging that the journey is not without obstacles. Overall, the episode serves as a source of inspiration and guidance for individuals looking to enter the world of online businesses.
Jaryd Krause is a fixture in the online business community. He won the show in October 2020. He coaches people on buying online businesses. He is the host of Buying Online Business Podcast too.
We dive into…
What are you seeing with online businesses right now?
Having a Vision
Grinding on the Side and now surfing in Bali for 2 months
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