Buying Online Businesses Podcast

Acquiring your dream online business is now possible through financing options. Joining the BOB podcast today is Stephen Speer, who is the Founder and CEO of Ecommerce Lending, where they help people get SBA loans to acquire online businesses.  They both discuss the size of businesses you can buy with finance. What are the 4 stage processes to get the deal across the line? What is the timeline to get a fiance? What do you need to have or get done before applying for a fiance?  They also talked about the importance of assembling a team of professionals when buying a business. And who do you really need? What successful business buyers have in common? Why do they buy businesses and achieve great results compared to those who don’t? If you want to own your dream online business, watch this episode today!   Episode Highlights 02:30: What is the minimum amount in financing an online business? 12:30: The type of business structures suited for financing 16:30: What’s the next step after the Letter of Intent? 21:45: The types of businesses suitable for you 23:40: Doer, get it done! 25:40: Owning an online business requires commitment    Key Takeaways ➥ Stephen Speer discusses changes in the lending landscape for online business acquisitions, particularly focusing on the minimum loan amounts and financing options available. The minimum loan amount for acquiring an online business is $500,000, with an average loan size now at $2 million, significantly higher than previous years. While the Small Business Administration (SBA) remains a common choice for financing, Speer's firm has expanded its services to cater to larger deals through their Capital Access program, targeting enterprises valued between $10 million to $250 million. ➥ Stephen Speer discusses the typical deposit requirements for acquiring businesses valued between one to three million dollars. Generally, a 10% deposit is required, but in some cases, it can be reduced to 5% with seller contributions. This flexibility has opened doors for many acquisition entrepreneurs. ➥ Jaryd Krause and Stephen Speer discuss the impact of market trends on business acquisitions, noting that multiples have decreased, particularly in product-based businesses, while SaaS businesses still maintain higher multiples, especially in the lower middle markets. Speer highlights their firm's financing capabilities across various business models, including SaaS, e-commerce, and traditional brick-and-mortar businesses. The process for obtaining financing typically takes 60 days, with clients encouraged to get pre-qualified before starting their search and assembling an acquisition team to vet opportunities.   About The Guest Stephen Speer is the founder and CEO of Ecommerce Lending, where they help people get SBA loans to acquire online businesses.   Connect with Stephen Speer  ➥ www.ecommercelending.com ➥ www.linkedin.com/in/stephenspeer ➥ https://www.instagram.com/stephenecommercelending/   Resource Links ➥ Sell your business to us here - https://buyingonlinebusinesses.com/sell-your-business/ ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Cloud Ways (Website Hosting) - https://bit.ly/40tjyjG ➥ Optimize Press (WP Funnel for building landing pages & funnels) - https://bit.ly/3py1ln2 ➥ Ezoic (Ad Network) - https://bit.ly/3NuVR5P   🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers: https://bit.ly/3RtyMkE ➥ Flippa: https://bit.ly/3WYX0Ve ➥ Motion Invest: https://bit.ly/3YmJAmO➥ Investors Club: https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

Selling your business can be challenging but rewarding. So how do you sell it for the highest multiple? Today Ron Stefanski will be joining us to share his insights about selling an online business. He is an internet entrepreneur and marketing professor who has a passion for helping people create and market their own online businesses. You can learn more about Ron by visiting onehourprofessor.com. Jaryd and Ron have discussed building a portfolio and AI content. They also talked about when to sell your website, selling sites (what to do to get set up for a great sale), financials, add backs and content expenses and listing fees. Lastly, Ron gave advice for staying in the game of business and not burning out. If you want to sell your online business, check out this episode to find out!   Episode Highlights 05:30 Should you worry about AI? 13:00 Why do you need to be cautious when owning multiple sites? 20:30 What are the content website expenses? 34:30 How to be a successful business owner? 41:30 What's next for Ron?   Key Takeaways ➥ Jaryd Krause and Ron Stefanski discuss the growing importance of authority in 2024, emphasizing the significance of quality content and strategic site structure. They touch on AI content creation, acknowledging its potential but cautioning that it requires careful prompting and extensive editing to ensure quality.  ➥ Ron shares his perspective on content expenses, considering them as past investments when selling a site. He suggests transparency in communicating with buyers about the site's history and the flexibility they have in making decisions regarding content expenses.  ➥ Ron stresses the importance of avoiding selling on a downward trend, emphasizing the need for solid financials and trimming unnecessary expenses. He suggests that reducing costs can lead to a significant return when selling a site About The Guest Ron Stefanski is an internet entrepreneur and marketing professor who has a passion for helping people create and market their own online businesses. You can learn more about Ron by visiting OneHourProfessor.com.   Connect with Ron Stefanski   ➥ https://onehourprofessor.com/   Resource Links ➥ Sell your business to us here - https://buyingonlinebusinesses.com/sell-your-business/ ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Optimize Press (WP Funnel for building landing pages & funnels) - https://bit.ly/3py1ln2 ➥ Surfer SEO (SEO tool for content writing) - https://bit.ly/3X0jZiD ➥ Market Muse (Content Marketing Software) - https://bit.ly/3M 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

We know the struggle—late nights, early mornings, and the constant hustle to crack the code of eCommerce success. But what if we told you we've got the man who's not just in the game but has mastered it? Today, Alex Fedotoff is joining the BOB podcast to share the secrets to growing an eCommerce business. Alex is an entrepreneur running an 8-figure D2C portfolio of e-commerce brands in the beauty niche and an education space with his company, eCommerce Scaling Secrets. He's been in the eCommerce space since 2016 and generated over $100 million in sales. Alex lives in Miami with his wife and 2 boys. Jaryd and Alex discuss the experience of buying a business and the psychology of marketing. What is the journey people take when discovering your brand and what goes on for them to make the decision to buy your product?  They also talk about positioning your brand strategically. How do you use influencers and who should you choose and why? How do you get people on your email list without just asking for a discount code? Alex also shares email marketing tips for e-commerce brands in such a way that you are not shoving your products in front of them aggressively.  Lastly, Alex shares the strategy for increasing your AOV so you can spend more on ads. Ready to learn more about the e-commerce business? Click the ‘Play’ button and know the ecom secrets! Episode Highlights 02:56 Alex’s experience in buying an e-commerce business 13:38 How do I get the best results with paid ads? 20:00 What people do with their e-commerce brand to gain trust 32:30 Customer’s stages when buying a product (the buying journey) 37:54 How e-commerce brands get people onto their email list aside from giving a discount code     Key Takeaways ➥ After acquiring Eqyl Actiware for about $300,000, they (Alex and his wife) realized the business had stopped functioning without the owner's involvement. Alex emphasizes two key learning experiences from this acquisition. First, it's essential to project what happens when the founder is removed from the business, ensuring it can still operate effectively. Second, staying within one's circle of competence is crucial, as investing in unfamiliar industries often leads to poor decisions. ➥ Alex emphasizes the three key elements for successful paid advertising in e-commerce, which are product differentiation, creative advertising on platforms like Facebook and Instagram, and optimizing the sales funnel. Alex suggests leveraging influencers for trust through whitelisted ads.  ➥ Understanding customer avatars is crucial for effective e-commerce advertising. Alex Fedotoff suggests ways to identify target demographics, such as by analyzing Amazon reviews, studying competitor ads, and utilizing post-purchase surveys. About The Guest Alex Fedotoff is an entrepreneur running an 8-figure D2C portfolio of ecommerce brands in the beauty niche and an education space with his company, eCommerce Scaling Secrets. He's been in the eCommerce space since 2016 and generated over $100 million in sales.  Alex lives in Miami with his wife and 2 boys.      Connect with Alex Fedotoff  ➥ alexfedotoff.com ➥ https://www.instagram.com/alexfedotofff ➥ https://www.ecommercescalingsecrets.com/home-ess   Resource Links ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX ➥ Content Scale AI (AI Content Detector) - https://bit.ly/3LlxRBV ➥ Mangools (SEO tool) - https://bit.ly/3wV4hLc ➥ Market Muse (Content Marketing Software) - https://bit.ly/3Me39L0   🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

Will A.I. disrupt content websites and reshape the online landscape? The answer is "Yes!" But fear not, for in this podcast, Jaryd Krause unveils the crucial concepts that can either make or break your online presence.  Google's role as the ultimate traffic conductor is dissected, revealing which websites will thrive and which will fade into obscurity. Jaryd, an advocate for A.I. content challenges you to embrace this technological wave, but with a unique twist. Learn how to leverage A.I. in a way that sets you apart from the masses, attracting traffic and unlocking real online prosperity.  Join us as we dive into not just the potential pitfalls but also the art of selecting the right side hustle and achieving sustainable income, breaking free from the cycle of conventional employment.  Hit the ‘Play’ button to get started!     Episode Highlights 03:07 Will A.I. kill content websites? 08:45 Putting your readers first and creating value is the way to go 16:00 The emotional aspect of your content makes it relatable to the audience 24:02 Don’t measure time; measure inputs! 33:15 It’s not the route that fails you; it’s your mindset and approach!     Key Takeaways ➥ Jaryd advocates for strategic thinking, emphasizing the importance of human involvement in the content creation process and cautioning against using AI. as a mere substitute for human creativity.  ➥ He predicts that content websites that neglect user experience and strategic presentation will face challenges and potential demise due to evolving expectations from both Google and the audience. Jaryd also suggests treating a content site as a comprehensive business, guiding users through a journey and presenting relevant products and services along the way to enhance the overall user experience. ➥ Jaryd believes in measuring inputs instead of time. He emphasizes that the time it takes to buy a business varies based on individual circumstances, and rather than focusing on a fixed timeline, one should consider the commitment and effort invested in achieving the goal.      About The Host Jaryd Krause is a serial entrepreneur who helps people buy online businesses so they can spend more time doing what they love with who they love. He’s helped people buy and scale sites all the way up to 8 figures, from eCommerce to content websites. He spends his time surfing and traveling, and his biggest goals revolve around making a real, tangible impact on people’s lives.     Connect with Jaryd Krause  ➥ Ep 234 - Why Size Matters When Buying A Business https://buyingonlinebusinesses.com/ep-234-why-size-matters-when-buying-a-business-with-jaryd-krause/   Resource Links ➥ BOB SEO service - https://buyingonlinebusinesses.com/seo-services/ ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Semrush (SEO tool) - https://bit.ly/3lINGaV➥ Optimize Press (WP Funnel for building landing pages & funnels) - https://bit.ly/3py1ln2 ➥ Market Muse (Content Marketing Software) - https://bit.ly/3Me39L0 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR     *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

Are you tired of the daily grind and stuck in the 9-5 monotony? Imagine a life where you can break free from the traditional work routine and achieve financial independence through buying content from websites. Today, Jaryd Krause and Stacy Carpio shared their transition from being employees to online entrepreneurs. And how can you do the same?  Stacy is a multifaceted entrepreneur and website investor who owns Her.CEO, a community for website investors and online business owners. Having invested her profits in real estate, she currently manages a duplex in Georgetown, TX, and is actively involved in both website and real estate investments.  Stacy shares her journey into investing in online businesses. Why did she want to make money online? How many online businesses has Stacy bought? What are her favorite types of online businesses and why? What is the hardest part about due diligence? Stacy also reveals the strategies for growing her content sites. How many sites has she sold and for how much? What did she learn about selling them?  Lastly, Stacy gave a piece of advice for first-time buyers. Do you want to quit the 9-5 and live life on your own terms? This episode can help you decide. Watch it today!   Episode Highlights 02:50 Stacy’s journey to being an online businesses owner 11:26 The rise and fall of multiples for online businesses 16:34 The pitfalls of juggling multiple businesses 23:01 Strategies for identifying high RPM businesses 29:10 Seizing real estate opportunities in a changing financial climate 32:36 How do you get your business ready to sell? 39:50 Where can you find Stacy? Key Takeaways ➥ Stacy reveals her tendency to start multiple projects, estimating that around 70% get discarded after realizing they aren't viable. She emphasizes the importance of having fewer focuses and prioritizing working projects. ➥ Jaryd reflects on his past experience of holding onto businesses that slowly died off, suggesting the importance of recognizing when to sell assets for optimal outcomes.  ➥ Stacy expresses a preference for ad-based content websites when buying or building. She appreciates their high profit margins, scalability through SEO, and quick revenue wins through optimizations like changing ad networks and placements.   About The Guest Stacy Caprio is a website investor, entrepreneur and owner of Her.CEO, a community for website investors and online business owners. She invested her profits from website investing into a Georgetown, TX, duplex a few years ago and now invests in websites and real estate. Stacy is also a realtor in Austin, TX and the owner of Heart of Austin Homes. In her free time, she likes to play with her parent's dog, Cooper, and run or walk on the Austin Riverwalk a few steps from her condo. You can ask her any question about investing in websites or real estate and she will be happy to help.   Connect with Stacy Carpio ➥ https://her.ceo/ ➥ https://heartofaustinhomes.com/   Resource Links ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Neuron Writer (SEO tool for content writing) - https://bit.ly/3EleDaS ➥ Ezoic (Ad Network) - https://bit.ly/3NuVR5P ➥ Rank Math (Wordpress SEO Plugin) - https://bit.ly/3Acyjf4 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

Let’s uncover the secrets to scaling a site to 7-figures!  Joining the BOB podcast is serial entrepreneur Tim Stoddart, who is the owner of Stodzy Inc., Sober Nation, and Copyblogger.  He is an influencer and leader in the sobriety and addiction space, where he shares his story from addict to entrepreneur and how he has built multiple income streams and helps people do the same with his highly successful SEO agency and marketing businesses.  Jaryd and Tim discuss the path to owning multiple income streams. When should you buy another business or invest in another asset? How can moving from operator to owner change the game in terms of building your wealth? They also talk about Tim’s journey to buying Copyblogger. What does he look for when buying businesses (and it’s not just about income)? They also share their investment philosophies and strategies for building or starting a business. Why is it that it’s not the company and its employees that grow a business? And who actually grows the business? Don't miss out on the strategies that turned CopyBlogger into a 7-figure powerhouse. Click the ‘Play’ button to unravel the wealth creation philosophies and kickstart your path to prosperity today. Your success story begins here! Episode Highlights 06:10 When is the right time to diversify your investments? 13:36 Tim’s perspective on investing 23:49 Copyblogger’s journey into a profitable website 29:30 Don’t monetize too early! 31:45 Who builds and grows your business? 39:18 Putting money where the cash flow is! Key Takeaways ➥ Tim suggests that there isn't a specific rule for determining when diversification becomes too fast but emphasizes focusing on the core revenue-generating business while using surplus funds for additional investments. ➥ Tim shares that he sees the acts of running a business and owning it as distinct roles. He leans toward the idea of buying assets, whether they are businesses or online companies, and aims to remove himself from the operational aspects. Tim introduces three categories: owning a business, owning assets (particularly online businesses), and investing. ➥ The common mistake in the online business space is prematurely chasing money. Instead, what you can do is build authority, brand value, and trust through content before pursuing monetization. About The Guest Tim Stoddart is the Owner of Stodzy Inc, Sober Nation, and Copyblogger.He is an influencer and leader in the sobriety and addiction space, where he shares his story from addict to entrepreneur and how he has built multiple income streams and helps people do the same with his highly successful SEO agency and marketing businesses.   Connect with Tim Stoddart ➥ https://www.timstodz.com/ ➥ https://copyblogger.com/ ➥ https://stodzyinternetmarketing.com/   Resource Links   ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX➥ Surfer SEO (SEO tool for content writing) - https://bit.ly/3X0jZiD ➥ Link Whisper (SEO tool for internal linking on websites) - https://bit.ly/3l7K7Ld 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥   ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

It’s challenging to make money online. If you don’t embrace failure and learn from it, chances are you won’t make it.  So, here’s Jaryd Krause’s solo podcast and he will share how to navigate the online business landscape, learn to love failure and challenges, and be successful. Hit the ‘Play button’ to get started!     Episode Highlights 02:45: How did Jaryd’s journey begin? 07:05 Character building helps you be successful 13:30: Making money online  20:00: How can solo travel build your character? 24:30: Embrace your story!      Key Takeaways ➥ Jaryd’s journey into making money online began in Egypt around 2012–2013. While working as a diver, he started a travel blog, but fierce competition and low ad rates and affiliate commissions prompted him to explore alternative avenues for online income. ➥ Jaryd encourages listeners to view life's challenges as opportunities for growth rather than obstacles, acknowledging that adopting a positive perspective can contribute to building confidence and resilience.  ➥ Jaryd emphasizes the importance of building character in life, highlighting that while buying an online business course is effective, it requires the right mindset and effort. Drawing from personal experiences, the speaker encourages celebrating small wins and overcoming challenges as keys to building confidence. About The Host Jaryd Krause is a serial entrepreneur who helps people buy online businesses so they can spend more time doing what they love with who they love. He’s helped people buy and scale sites all the way up to 8 figures, from eCommerce to content websites. He spends his time surfing and traveling, and his biggest goals revolve around making a real, tangible impact on people’s lives. Mindset Series  ➥ Mindset Series Part 1 - https://www.youtube.com/watch?v=0F6NHUQfs3c ➥ Mindset Series Part 2 - https://www.youtube.com/watch?v=gnWixeAMMog ➥ Mindset Series Part 3 - https://www.youtube.com/watch?v=yPQgO1XiZqs ➥ Mindset Series Part 4 - https://www.youtube.com/watch?v=zAwSMGEOFiY      Resource Links ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusines ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX ➥ Content Scale AI (AI Content Detector) - https://bit.ly/3LlxRBV 🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use)  ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   *This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.

Bakari Akil, founder of Graves Hall Capital, is a business acquisition expert and visiting lecturer at Cornell. He shares the intricacies of financing both online and offline acquisitions. Listeners learn what types of businesses he targets and his strategies for locating them. Bakari opens up about major mistakes he made during acquisitions, emphasizing due diligence and resilience. He also offers valuable advice for aspiring buyers on navigating investments and aligning with sellers’ needs, inspiring potential entrepreneurs to pursue their acquisition dreams.

James De Lacey, a seasoned strength and conditioning coach turned online entrepreneur, shares his strategies for scaling content websites. They discuss pivoting to SEO, buying established websites, building authority, and leveraging 'The One Thing' in business strategies. James also emphasizes the importance of turning a content site into a profitable business that people love and pay for.

Have less traffic on your blog? No problem! You can still earn more money through a newsletter. In today's episode, Jaryd Krause is joined by the dynamic Craig Schoolkate. So, get ready for insights on ramping up your blog revenue through the power of the newsletter business.  Craig developed his copywriting skills under Quinn Zeda at Zeda Labs. While at Empire Flippers, he found a passion for newsletters and successfully built one with 60,000 readers, boasting impressive engagement statistics. Currently, he authors the Growth Memo and oversees the growth of several newsletters, reaching a combined audience of over 89,000 entrepreneurs and marketers. Jaryd and Craig dive into starting  a newsletter. Why should every business have a newsletter (not just for extra money but for far more important reasons)? How do you grow a newsletter? What metrics should you track and how? And what email service provider (ESP) can you use? They also discuss building a brand within the newsletter. How can you make your newsletter and blog magnetic so that people will come to you with advertising dollars and opportunities?  Lastly, Craig shares the 3-legged marketing stool. This is so valuable; businesses should know how this works and incorporate it into their strategy. It's a game-changing episode you won't want to miss! Tune in now and generate more money for your online business.    Episode Highlights 04:08  Craig’s journey into copywriting and online entrepreneurship 12:02  How do you transform relationships into business success?  23:32  Unlocking your potential and monetizing your email list as a blogger  30:03  The art of value-centric growth and monetization  44:43  What are the best strategies to optimize a newsletter?    Key Takeaways ➥ According to Craig, an email list is considered the most important business asset. He goes so far as to state that if a business doesn't have an email list, it may not be considered a true business. The rationale behind this assertion is that an email list provides a consistent and engaged audience to whom products can be sold or who can be directed to the business's website. ➥ Craig promotes a shift from a competitive mindset to a collaborative one. Instead of viewing other businesses as competitors to be surpassed, he encourages businesses to see the potential for collaboration and abundance for everyone involved. This approach involves thinking about what can be given to the audience rather than what can be taken. ➥ To successfully monetize a newsletter, Craig recommends first defining a unique value proposition that sets the content apart. Subsequently, he emphasizes the importance of a testing phase with a small audience, gathering feedback, and refining the content based on responses. Adopting a long-term approach, he suggests building healthy metrics, such as achieving 50% or more open rates and minimizing unsubscribes to less than 1%, before considering monetization strategies. One of the primary methods he highlights is the introduction of sponsorships, but he suggests waiting until the newsletter is well-established and exhibits robust engagement. The quality and engagement of the content play a crucial role in attracting sponsors and retaining subscribers for successful long-term monetization.   About The Guest Craig Schoolkate was nurtured into the craft of copywriting by Quinn Zeda, founder of a left-field CRO agency called Zeda Labs. When he moved on to Empire Flippers, he discovered his love for newsletters. He built the Empire Flippers newsletter, which had 60,000 readers, a 53.5% average open rate, and 96%+ of the audience read the entire email every week. Now, he writes the Growth Memo and leads the growth of multiple newsletters with a total audience size of 89,000+ entrepreneurs and marketers.   Connect with Craig Schoolkate  ➥ Craig's Website - https://www.hitnewsletters.co/ ➥ Everything You Need to Know About Newsletters - https://bit.ly/3OmYIhH ➥ Reach Craig at - Craig@hitnewsletters.com   Resource Links ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Active Campaign - https://bit.ly/3DCwYQH ➥ Convert Kit - https://bit.ly/3o10Xgx ➥ Substack - https://substack.com/ ➥ Beehiiv - https://www.beehiiv.com/ ➥ Passionfroot - https://www.passionfroot.me/   🔥Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve ➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR   This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site/posts at no additional cost to you.See omnystudio.com/listener for privacy information.