90% of all startups fail and it’s a crying shame that despite the numbers, some people still think that in order to make money online, you need to start your own business. My main reason for building this community of Buying Online Businesses is for people to realize that it’s so much better to buy an online business than to start your own, or invest in offline businesses.
And that is why I’ve invited Ace Chapman, an investor strategist for 17 years, to come on my podcast today. Ace currently owns 40 online businesses, and has been a part of over hundreds of transactions in buying online businesses, which makes him a gun in the industry.
In this episode, we’ll be talking about these topics:
- Where did Ace start looking for online businesses to buy?
- What business model would Ace recommend and why?
- What are you supposed to look for in a business to know that you can grow it?
- What are other ways you can grow an online business?
- After purchasing an online business, what low-hanging fruit do you first take advantage of to start growing your business?
- Ace helps people with little to no money buy businesses online, how does he do that and where does he get finance for such deals?
- Why Ace decided to go public with his business
- What a good buyer first looks at when they search for a listing
So if you want to learn about raising your capital, financing your first online business, and you’re passionate about it then you don’t want to miss this episode.
0:00 – Introduction and Episode Overview
3:17 – Ace’s experience upon starting to look for online businesses to buy
11:29 – Ace recommends businesses both offline and online that are more liquid
13:56 – Why it’s wrong to think that for someone to make money online, you have to start your own business online
15:44 – Ace suggests the type of online business you can start with if you’re a beginner
17:33 – Passion determines how far your business is going to scale
18:15 – What happens when you think about selling your business?
18:47 – What happens when you just let a business die instead of selling it?
23:21 – The low-hanging fruit that Ace takes advantage of as soon as he purchases a business
23:51 – Ace’s strategy in promoting businesses
28:48 – How to finance online businesses; and is it even realistic for someone to purchase an online business with no money down?
32:47 – Two things that are useful in financing online businesses
34:50 – SBA Loans — another option in financing online businesses
36:38 – Wrap up and closing remarks
Ace Chapman is one of the big guns when it comes to online businesses. Ace is currently the owner 40 online businesses. He used to work in a corporate setting, but being a college dropout, he knew that he would hit the glass ceiling soon enough. And that’s when he decided to pursue something bigger, something he didn’t realize would make him afford his freedom. If you wish to contact Ace Chapman to find out how you can live the kind of life he’s living right now, just click on the following links:
For Jaryd’s free resources, whether it be for evaluating a website, or doing your due diligence, get Jaryd’s free resources by clicking here.
And also, go ahead and join us! Be a part of our Buying Online Businesses community.