3 Steps To Avoid Failure When Buying an Online Business
Apr 4, 2023
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Jaryd Krause, Founder and CEO of Buying Online Businesses, talks about the benefits of buying established businesses instead of starting from scratch. He shares insights on the leading marketplaces for online businesses, considerations for purchasing a content site, and the importance of investing in education before making a purchase. The podcast also highlights the significance of performing thorough due diligence and emphasizes the importance of seeking assistance when buying an online business.
Seek professional guidance and assistance when buying a business to ensure proper preparation and informed decision-making.
Develop a positive relationship with the seller by establishing rapport and connection to foster collaboration and potential opportunities beyond the initial transaction.
Deep dives
Importance of Getting Help When Buying a Business
When buying a business, it is crucial to seek professional guidance and assistance. The podcast emphasizes the significance of getting help from experts who can provide valuable insights and support throughout the buying process. By seeking help, buyers can learn how to properly prepare, make informed decisions, and be successful in their acquisitions.
Key Points in Buying a Business
The podcast delves into the various key points and preparations required when buying a business. It highlights the importance of conducting thorough due diligence, assessing traffic trends, evaluating SEO strategies, and examining financials. By carefully analyzing these factors, buyers can mitigate risks, identify growth opportunities, and make well-informed investment decisions.
Building Rapport with Sellers
Developing a positive and likable relationship with the seller is crucial when buying a business. The podcast stresses the importance of establishing rapport and connection during buyer-seller conversations. By being a confident and attractive buyer, it becomes easier to build trust, strengthen communication, and foster a mutually beneficial relationship. This can lead to better collaboration, increased cooperation, and potential opportunities beyond the initial transaction.
Mistake of Not Seeking Help When Buying
The podcast highlights the most significant mistake that aspiring business buyers make: not seeking professional help. It underscores the importance of getting assistance from industry experts, mentors, or coaches who can provide guidance, expertise, and support throughout the buying process. Seeking help can help buyers avoid costly mistakes, ensure thorough due diligence, and increase their chances of success in acquiring and operating a business.
Jaryd Krause is the Founder and CEO of Buying Online Businesses, a community where people learn how to buy and scale online businesses. As an online business mentor, Jaryd has gained knowledge, experience, and great success purchasing online companies and teaching people how they can do the same. He's on a mission to help 1,000 people replace their current income, quit their jobs, and live a lifestyle they love. When he's not working, Jaryd loves traveling the world and surfing.
In this episode…
Are you aspiring to buy or scale an online business to replace your income and live the lifestyle you've always desired?
Building a business from scratch is challenging, and you might end up losing all your savings. That's why Jaryd Krause recommends buying an established business that has successfully passed the startup phase. According to Jaryd, who has thrived in this space for years, getting help when buying a business is critical to ensure your purchase is less stressful and more successful. With the knowledge and experience he has gained, Jaryd coaches people on making the right online business purchases.
In this episode of the Quiet Light Podcast, Joe Valley sits down with Jaryd Krause, Founder and CEO of Buying Online Businesses, to discuss how to avoid failure when buying online businesses. Jaryd talks about the leading marketplaces to buy an online business, considerations for purchasing a content site, the value of investing in education before buying a business, and top due diligence tips to foster a smooth purchase.
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