Ep 168: Losing 6 Figures From Buying The Wrong Business

Losing your hard-earned money from a wrong investment is truly heartbreaking. It’s not just a lost opportunity but also wasted resources in terms of time and energy.

And we want to save you from it!

I had a rare opportunity to speak with Cody who lost 6 figures from buying the wrong business. He started young in the aviation world and worked his way up the career path until eventually becoming a 737 Captain for Southwest Airlines. After a four-year stretch doing humanitarian work in East Africa with his wife and four kids, Cody transitioned to leading several entrepreneurial pursuits and now works full time as a stock and real estate investor.

We have talked about his approach to buying an ecommerce business, how he did his due diligence and what he learnt and what he would do again. We also discussed why he would never go all in again. 

Jaryd will also share his advice to those looking at buying their first business, insights on what you should be checking during due diligence for an ecommerce business, and how to allocate your capital.

Cody’s experience is definitely an eye-opener for first-time buyers. If you too would want to save yourself from this heartbreaking event, then don’t miss this episode!

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Episode Highlights

00:00 What you’ll learn in this episode
03:20 Niche website builder
04:08 Why did you want an online business?
05:41 Why eCommerce?
07:23 He did everything by himself
08:29 Process
11:20 What happened to the business you bought?
15:31 Due diligence
24:18 Everything went downhill
26:19 Sources
30:28 Thorough due diligence
32:36 Cody’s advice
34:48 I’m sorry this happened to you
37:30 Thank you for listening

 

Cody BOB GuestAbout The Guest
 

Cody started young in the aviation world and worked his way up the career path until eventually becoming a 737 Captain for Southwest Airlines.  After a four-year stretch doing humanitarian work in East Africa with his wife and four kids, Cody transitioned to leading several entrepreneurial pursuits and now works full time as a stock and real estate investor.


 

Resource Links:

➥ Buying Online Businesses Website (https://buyingonlinebusinesses.com

➥ Download the Due Diligence Framework (https://buyingonlinebusinesses.com/freeresources/)

➥ Visit Niche Website Builders and get EXCLUSIVE OFFERS as a BOB listener (https://www.nichewebsite.builders/bob/) 

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