Before buying any business, it’s vital to know about the details and the process it will take. Today, we will answer the questions you might have—from important factors to consider when choosing what to buy to what happens after. It is a rare opportunity to have the same guest with us, but we are lucky to have Will Wang again.
In this episode, we will talk about:
- What do we need to think about before going to the market?
- Is this legitimate? Is this safe?
- How much should you invest, and how quickly will you get an ROI?
- Where to find these businesses
- How much should you pay?
- What happens during the migration process?
- What kind of financing has Will seen in his experience?
0:00 – Introduction and Episode Overview
4:26 – Things to be aware of before buying a business online
8:22 – Where NOT to go if you want to find good businesses to buy online
10:55 – Where to actually go to find good businesses to buy online (for experienced marketers)
12:14 – Places you’re supposed to look if you’re a beginner in buying online businesses
14:26 – How much should you be spending on your first, second, and third investment?
21:11 – Where do you get funds to buy businesses online?
26:47 – ROI: What to expect and when to expect it?
31:03 – What to do after you’ve acquired your first business
33:56 – When is the right time to flip a website and make a profit out of it?
36:49 – The migration process
40:23 – Know the financial status of the business you are looking at before buying it
42:19 – How does Jaryd help out in this whole process?
44:14 – Wrap up
Will Wang is an author and the director of lead generation agency Growth Labz. He made a $1.8 million dollar deal, $150K in banked sales in less than 30 days, and built a $3 million pipeline. He has also helped a well known financial service business to gain 398 high-quality leads in 60 days.