Are you one of the many people who have plans to have an online business but don’t know where to start?
Are you constantly anxious about the what-ifs, uncertainties, and risks involved in running a business? You’re not alone!
In this episode, Jaryd Krause will discuss: why people fail at buying websites? What is the entrepreneurial mindset that you should have this year so you can grow in life and business?
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.
William and Jaryd covered topics such as what stops people from buying websites and what is wrong with the self-help and personal development strategies people are taught?
They also discussed why measuring time when trying to succeed is the wrong metric and how it makes you fail? Why shouldn’t you bother learning non-evergreen tasks? And what non-evergreen tasks actually are?
Lastly, Jaryd exposed millionaire secrets that most won’t share. He also shared how business is a great tool for growth in other areas of your life?
Check out this episode and find out the mindset that you should have that can change your life. Are you ready to take action?
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02:39 Why you should be nicer to yourself?
10:34 It’s important to celebrate your wins, even if they’re small?
17:22 What makes Jaryd upset about the Personal Development niche?
29:46 Inputs vs Time – what is the right measure for getting results?
34:59 What are the evergreen skills that you should start learning?
42:01 Jaryd’s biggest surprise yet!
45:50 Jaryd’s advice for people who want to own an online business
Courses & Training
➥ You can’t be everything to everybody.
➥ The biggest bottleneck to growth in our own businesses is ourselves.
➥ It’s important to track your wins, celebrate them, and then share them with people.
➥ People don’t get results anywhere because they run away and find some other shiny object.
Jaryd Krause (0:00)It's a massive shame that so many people fail to make money online. And the reason is, is because they're taught the wrong mindset strategies, and they don't know what to do. Hi, I'm Jaryd Krause, co-host of the buying online businesses podcast with my other co-host, William Griffin, where William comes on and decides to ask me a bunch of questions around mindset philosophies and things that I teach my one on one coaching clients that don't really get the public ear or the public eye things that I hold close to myself that have been very beneficial in the growth of my life, my income businesses, relationships, and all of my development as same with all the development of my one on one coaching clients and what is sprinkled out through and in the buying on my business community as well.
So in this podcast episode, we are flips the script asked me a bunch of questions about what actually stops people from buying websites, and why what all their fears are and how these fears play a role, even if you're not conscious of them. So the first step is becoming conscious of them. And I help point out how you can become conscious of those. I also talk about what is wrong with the self-help and personal development strategies that people are taught. I've been doing personal development for two decades now started when I was in high school, and I've learned a lot of different strategies. Many serve me for a certain period of time until I realized they were actually starting to become to cause chaos. I also tell a story about one of my emails and a millionaire secret that I shared that William wanted to dive into more about so and had me share publicly with you guys on the podcast as well, we will talk about why I believe measuring time when trying to succeed is the wrong metric to measure and how it can actually make you fail. And then we go on and talk about why you shouldn't bother learning non evergreen tasks and what non evergreen tasks actually are and what evergreen tasks are that you shouldn't be learning that you can carry with you. So you're not wasting your time, effort and energy. We also talk about how business is a great tool for all our other areas of growth within your life. Now this podcast is jam packed with so much value. We do talk about due diligence we do talk a lot about buying online businesses. So don't go away and do this on your own gets. My due diligence framework is what I've used what a lot of other people have used to help people make millions of dollars. It's helped people save millions of dollars, takes the guesswork out of buying a business. Make sure you get that at buyingonlinebusinesses.com/freeresources. There's other cool resources on that page as well. Now let's dive in to the chat I had with William about mindset.
William Griffin (2:39)All right, Jaryd Krause, welcome to the podcast.
Jaryd Krause (2:42)Thank you, William. Thanks for having me, and asking me questions. I'm excited for this.
William Griffin (2:47)Me too. Let's get straight into it. This is the podcast all about how to buy an online business. It's the whole point of the podcast. Alright, let's get to our first question. Jaryd, I got an email from you the other day, it was a good email, it said be nicer to yourself. Oh, you remember, do you remember sending that email? Jaryd are on a lot of emails. And I do remember I did see that email come through and be sent. Yeah, so I remember I remember portions of it. And I stand behind be nicer to yourself. But it's I mean, I do to like it resonated. So the email was basically want you to kind of just lay it out for our audience. So it was it was basically like, what to ask you what is being nice to yourself. And what result does that give? Really anyone?
Jaryd Krause (3:37)How about I read the email to the title of it is my number one millionaire secret, which sounds like I've got the biggest ego ever. Those of you who know me have their own opinion on that it starts I'll just read it off. So be nice to yourself. That's it, right? That's the mindset you need to create a better life and become a millionaire. I know it sounds so damn simple that surely it just can't be right, obviously. Well, I was out to lunch with a bunch of people that I play fantasy surfing with. And I met a guy who heard about my story. He's a handyman on the Gold Coast. And he resonated with me because I used to be a plumber. And we live in the same town. And he asked me, how do you do it? How did you get out of plumbing? And I said to him, I believe I could, you know, I believed I could do it. I found a way out and stuck to it. You know what he said? He said, Yeah, but you're smart. I'm not smart, and throughout the day, and I was at the pub with all the other guys and we're just having some food and everybody was having a couple of drinks and he kept saying to me the same thing. Um, I'm not smart like you just don't read like random times with random parts of the conversation. And in reality, though, like I'm actually not smarter than him. All I did was just be nicer to myself. I talked to myself better than he was talking to himself. Imagine how far backward you would go if you kept telling yourself you were dumb every day and the opposite is true as well. If You kept telling yourself, I can do this, I'm a millionaire, you can actually become one and be nice to yourself. Not through just saying it, I mean affirmations, they can help. This sets an intention. And I'm going a bit off script here with the AMA, but it sets an intention to the universe, that this is where you want to your life to head. And so obviously lead you down the path to learning and taking actions and following the right steps back onto the script of that email. All it takes is for you to start being nicer to yourself, if you believe in you, which I do, if you're listening to this podcast, I believe in you, I believe you can do great things you're looking for anyway. And you have the energy to do so. So yes, you I believe you can do it, if you believe you can do it, but I believe you can do it, you should be able to believe you can do it yourself there as well. So let's just start being nicer to ourselves this year, and you'll be able to make it happen. That's the email.
William Griffin (5:48)it's I love that email, I actually I read the whole thing. Super enjoyed it, I think reason it resonated with me is I totally believe that it's our internal state that so much affects our lives and affects the external. And I think a lot of people, we might think it's something outside of us that's causing these problems. But very often, it's kind of within us, that's, that's really affecting things spot on.
Jaryd Krause (6:17)It's the biggest bottleneck in our own lives. And the biggest bottleneck to growth in our own businesses is ourselves. And this is where like, and I was telling, I was speaking to you and the other guys in our mastermind group the other day, how everybody will listen to a podcast or listen to a YouTube video or read a blog post. And like this is how you grow your business. But that may have worked for that one person's business because their business model is very different, or the niche is very different. Or they have you know, some depth some differences. Whereas if you look internally within your business, that's actually telling you what you need to do. And you can just use those growth strategies. Or if you look within yourself within yourself, like there's obviously some things that you might actually be avoiding, like, a lot of people distract themselves in life by doing a lot of different things like never sitting still and filling their plate up with like events and all the and so many things. And so many people don't sit still because they can't, they can't sit still, they can't sit down and reflect. And in my opinion, reflection equals wisdom. And so a lot of people don't sit down and just give themselves space to think or digest. And a big portion of that is like jumping on the phone. Like they just can't even sit down without there having the phone in front of them and doing nothing. And that's one distraction that there's other events and like even people who say artist, I'm an outdoorsy person. And yeah, it's good. It's good to be an outdoors, outdoorsy person and healthy and fit. But are you running away from something by just doing something else that you think is healthy as well running away from not sitting down and reflecting and changing direction in life? Is that maybe holding you back to.
William Griffin (7:51)I think that's super powerful for anyone listening or watching that's really I really think that alone can justify this whole podcast because you're constantly searching outside and running around like a chicken like with the head cut off. It's just chaos, and it stresses you out. And we don't want that for anybody, you know?
Jaryd Krause (8:13)No, not at all. So slow down, slow down.
William Griffin (8:17)Slow down. I was in the sauna at the gym. So I go to the gym, but I really go for the sauna. And I'm the only person in the sauna where it's like 100 and something degrees Fahrenheit. Everyone else is on their phones in the sauna. They're on the phones in the sauna. And I'm just like, I mean, it's fine physically. But I'm like, Dude, why don't you take the time to like, just enjoy the heat and stew with your thoughts or I don't know, just take the opportunity and you know, enjoy being disconnected on. Yeah, that email that you just read. I loved the story. I think a lot of people think that you've done some businesses gross and businesses, they think that it's because of extreme intelligence. And how did you answer you’re buddy your mate.
Jaryd Krause (9:02)It's going to be a different answer. Not because it's a he's a different person, but I just ignored it. I didn't call him out on it because I didn't really I don't really know this guy like, this is the first time I met him. And he wasn't asking for my help. The old Jaryd would step in and be like, Hey, dude, you should change how you're talking. You know, he wasn't there asking for my help. He obviously wanted a better lifestyle. He wanted to get out of the trade that he's in. But he didn't. He didn't specifically come across like, hey, just tell me everything. And I'll do everything that you say he just wanted to sort of hear a story and be a bit inspired, I guess. And some people look, listen to the podcast and listen to other pieces of pieces of content out there. They just they just want to be inspired and motivated. So they can go out and do it themselves. But so how I would answer it. I didn't actually answer him I didn't I didn't say hey dude, like check your language mate. Check yourself but if it was a different friend of mine who is in business, who calls me up, and we chat about life, we chat about partnerships or have different types of relationships. And then we talk about business. They said something and they hold me accountable, I would hold them accountable to what they said, around growth or some pessimistic language that may be holding them back. So I used to try and help everybody. But now I don't leak my energy out and waste that on people that don't want help, or don't really want help.
William Griffin(10:21)I think that's called wisdom. You can't be everything to everybody. It's not our role. But if you're listening to this podcast, I think that shows no at least an interest and some level of proactivity that if you're listening to this podcast or watching this, then yeah, take what Jaryd just said is like super permission to speak kinder to yourself, and let it reverberate throughout your life. So you have our permission, whoever's listening to this, and I'm going to relate it to that I've found one of the best habits to help us speak or speak, be nicer to ourselves has been the winds list or the winds stating our winds, pack winds and what are they? And how can they help us?
Jaryd Krause (11:02)So probably about seven years ago, might have been seven years ago, I did a course. And at the start of each sort of like, like a lot of people would celebrate wins, like I realized a lot of people in the group would celebrate their wins. And some people are doing it for ego, and significance. But then what I really realized is that when the host of the group shared other people's wins, they'll really championing people on when we celebrate our wins, we're just counting, we're just counting ourselves where we're actually really living proof that we've achieved something and it comes back to I guess the negative thing that a lot of people do is like, Oh, I can't do this, or like, they try it, they tried to do a task, and they failed. But they focus on the failure, and why they didn't complete the overall task, and not what they actually learned throughout the process and the wins. And so what we like to do in our mastermind group in the inner circle is every time before somebody speaks, we celebrate, they share some wins. And it doesn't need to be a win about business. It can be about their personal life, or something that happened on the holidays, or whatever it is. And it really sets a good mindset and a good frame of mind for people to continue talking and everybody builds each other up and congratulate one another. And it's just having a better attitude and re instilling. I think the habit of just doing it regularly, really instils you to have a better habit in your daily life outside of like so. So what we actually do is we just helped facilitate people be better people in the group. And by doing that they automatically become better business owners.
Really? Yeah, I think I started realizing how important this is to track your wins, and then to share them with people. Because if you every week go, I don't have any wins. I don't have any wins after a while, I think you can realize, well, it's not that's not true. I don't just not have any wins. I think it's actually a perception. And so it kind of it helps train you to look for the winds in your life. And then that fuels you to keep taking more actions, whether it's doing due diligence, or listening to another podcast or going to work with a good attitude, whatever it is. So kind of spread the word. Yeah, I think you're spot on. Like if people in our community say I did five due diligences, I did doodles on five businesses, and none of them were any good. Well, they're going to focus on typically is like, oh, none of those businesses are good. This is really hard. I don't know if I can do this. And they go into a pessimistic spiral. Whereas they may have never ever done 5g diligences in their life before on a business, everything that they've learned like five completing due diligence on five business is an amazing task, and an amazing education. And they've just probably learnt like a sliver or maybe even a quarter of what people learn in business school, because they're looking at multiple businesses, how they work, their risks, what their downfalls are, they ask them questions, they're speaking to business owners, all of that is amazing the education they've got and then they go away and disguise pretty hard, I'm not going to do this, I'm going to throw it in the bin, and they run away and they find out some other shiny object and don't get results anywhere.
And they just keep chasing shiny objects because they don't know to like pat themselves on the back. It's like, Hey, I just learned how to do due diligence on at least one business is phenomenal. A lot of self-help and personal development, people will say you just need to be more positive and you need to slap some positivity paint on your life. It's like no, if something really is shit, except that and say, Yeah, this is this is not great. But what are the other good things as well? Right not just to push something and sweep it under the rug, let it go mouldy and come back as a way worse problem like accept it understand that that's not great. Okay, I didn't buy I didn't buy business from five due diligences is but look at all the education I have. And I'm this much closer to buying a business. It's not like oh, this is this is sucks and I'm just going to like paint it as it's perfect. And everything's great. It's just understanding.
William Griffin (14:59)That's so to write and to cross any domain, right? Like, if I if I want to write 20 jokes, 18 of them 19 of them will not be good. But if it took me 18 jokes to get to that one good joke, there were we call them stepping stones. And like every stepping stone is important if you can kind of perceive it is that way. But yeah, if you see it as, but that was just failure, failure, failure, failure, then you naturally fizzle out. So there's just kind of a, there's a good mindset to have that'll just enable you to grow. And I think we want to just encourage people for that, for sure. It's actually been fun. Jaryd, I I've been doing the win’s list or kind of sharing wins with lots of different people. And I really find it just lights with family members with friends from school. And it just lights people up. And I think it really helps people see their situation in a more helpful way.
Jaryd Krause (15:51)I think I shared this story with you guys the other day as well, in the group. At one stage, I learned how valuable being grateful was like the attitude, the you know, the attitude of gratitude. And I would when I was living with my parents long, long time ago, and I started personal development, like 20 years ago, right? So when I was still living with my parents I came, I came, I started to do gratitude’s. And I used to write them down in my journal, and I used to do heaps of journaling and stuff, things that I don't do now, with the journaling. But I started practicing gratitude before, myself, my mum and dad would have dinner together, I would like hang on Dad, like, can I ask you a question before we start eating? So like, what are you grateful for today? Like, what are two things and then Mom would go, and then I would go, and I did that. And then I did that for like, maybe, I know, a month or two or so. And then I went away travelling for a year and a half just surfing around central South America. And I came home and we all had a big family dinner with my siblings. There's four children in my family, mom and dad. And then my siblings all had partners at the time, I sat down, we all went to have a family dinner. And everybody just decided to start sharing their gratitude. And we went around the table and I was like, wow, there's one little seed got planted.
I left for a year and a half comeback. And it's just like this amazing tree. So yeah, it's I'm so stoked for you sharing that with your family, William, and yet friends and stuff. And so you guys take that away? Like it's, it's a valuable thing? Yes, yes. That's free, guys. That's a free nugget for anyone listening all our viewers. I don't know if this is off limits. This is totally in your court. What gets you mad about personal development, or the entrepreneurship niche? You can feel free to we can discuss this at another time, or handle it however you wish. Wow. It's a big question. There's so many things that frustrated me about personal development, I would say one, one big thing is most personal development and self-help. Like, like I said, just before, like I've been doing and learning personal development for two decades, two decades, like I started before I finished high school. So I think two decades is warrants like it's a decent amount of time. And only in the last sort of five years, I started to build the philosophy of challenge everyone and challenge everything, not for the sake of proving people wrong on purpose to be in an ego way of like, No, you're wrong, check this data out, but to try and work out what information and try and filter what information that I want to believe and not believe. So I urge people to you know, even challenge me like, like, if I'm going to have children, I'm going to say, hey, challenge me with like what I say. And if you come up with a better a better thing, like, presented to me, and we'll see if it if it's, you know, challenge worthy or not, I learned to challenge these things in the last couple of years, a lot of the personal development things and I realized that a lot of the person development tasks that people are being taught are they're being taught to people that are in fear. And this is where most of us all our apps, when we're trying to get out of our replace our income, and I totally get it like I am no exception. I was there, my biggest goal was to replace my income because I was I was scared that I would have to be a plumber for the rest of my life. So all the personal development stuff I did was based out of fear, all the work that I did was based out of fear, but when we do any task based out of fear, like it's not, it's, it's we've setting the wrong intention, I believe, to the universe that like I need this. And it's like a, it's like a desperate vibe, right? It's a desperate vibe to the universe. Like I need this. I'm like willingness to into existence. Whereas if you come from a place of love, which is infinite, infinite, infinite and abundance, then you don't have the desperate vibe. It's kind of like dating, right? Like if you're like, I needed a woman, or I need a partner because I'm going to be alone for the rest of my life, like these desperate vibes and it's going to it's going to be harder to find a partner, which is your actual goal.
And I feel it's very similar to with the personal development things is like if you're operating from a place of fear, and you're like, I really, really want to improve or replace my income you putting out those disparate vibes can hold you back versus if you believe like Ashley, you know, like, this is super corny, but you need to believe it to achieve it. But if you just like, let that fear go and just go deep like have a deep knowingness, like, I’m going to replace my income, it's okay, it'll happen in a time that's out of a place of love. And then you don't build as much resistance through the fear based mentality of trying to achieve that goal. So that's one of the things that's like a that's like a foundational piece of like, why what I struggle with, with personal development, and if I was to teach any person developments, I would, I would want people to understand and know that at least, and this is, like, you asked me just a random question. These are things that I've been thinking about for a while, but I haven't put them into context, and I haven't verbalized them. So as I speak, I hope it's actually making sense because I haven't gone away and honed in what I'm trying to say. But hopefully, hopefully, that at least make some sort of sense.
William Griffin (20:57)I mean, I think it's very clear, we see it every day in our lives, or if we're, you know, getting due diligences from members or, you know, there's fear involved, people act kind of crazy, but if they have kind of a sober mind, you know, emotionally sober, and they can kind of see things clearly and, and leverage the whatever happens to their good. But if they're in a state of fear, people just kind of go crazy. And it's, it's not pretty, and it's not enjoyable, it's stressful, you know?
Jaryd Krause (21:27)Some, somebody I know, their car broke down the other day, and they're like, oh, I don't know how I'm going to, like get around, and all that sort of stuff. And they just sent me a link to a car, like, Oh, they've already purchased the car, like about a year ago, almost a year ago, but it's just takes a long time for the manufacturing at the moment, where we are and getting cars delivered. So the car supposed to be delivered in a couple of months’ time, and are like, Hey, I should just Should I just buy this one tomorrow and was a more expensive car, it was going to she was going to throw money at the problem and could resolve the problem, but it was based on fear and based on our emotions. So what you say is really cool word like being emotionally sober. I said, like, Look, you could, you could do that. But do you think it's worth like, waiting two or three days and thinking about it, like, and then maybe buy the car, it feels right, like, not out of a like in a rush? Yeah, and this is the scary thing for people that come to buying and like how we tie this into buying a business is that people come to the community, and they're like, Alright, I need to buy a business in three months, or four months, or even six months. And if they don't do it, they're leaving, they're gone. Right? There's like, I need to find some other thing that they can actually help me do this, because this doesn't work, right. But the truth is, there's so many things that are happening within them, they're worried that it's going to take them a long, long time to replace their income.
Guess what guys, depending on what you think a long time is, it may take you a long time to replace your income. But when you leave one vehicle by buying a business to start another vehicle, maybe starting a business or investing in something else, you have to relearn the whole thing again, and then it's just going to take you longer and longer and longer. I think in the last couple of weeks, we've had multiple people come back to the community and say, Jaryd, I'm back. Like I just this is the way to go, right? And they've done all these other things like got busy with all these other things run around in circles, headless chicken, came back realize, all right, cool, I'm just going to stay here and buy something and realize that, you know, what's the worst case scenario, if you do this in two years, and you buy a business is that really that bad like that you buy something that you can build, and grow, that's going to repeat to replace your income, or you can buy something that will already replace your income. It's very interesting. And it's easy for me to talk about it now. Because I've been through it and I can see I can look back on my journey and see how I operate from that point of view. And it's totally normal. And I'm not pointing my finger at anybody because I get it, I have empathy, like it frickin sucks to be in that position where like, I need this, like, I need this so bad and like trying not to put out desperate vibes.
But if people just slowed down, like an understood, this other philosophy that I have that like time is with you, not against you, like everything happens in a much more organic way. When you give yourself when you put time on your side versus having time against you, most people believe that, alright, I'm going to put up a barrier of three to six months to buy a business. What they're doing is they're putting time against themselves, which puts them in that fear state. And that stress state and when the more fear we have, the more stress we have, the easier it is for us to drop the ball and make mistakes versus go no time is on my side. If even if I just give myself like a three year, timespan, like I can do this in three years. And I'm not operating from a place of fear because I've got a lot of time and it's going to happen and then they have this state where they're in the state of like, I actually believe I can do it because time is an issue. If I just stick for this if I just stick to this and I commit to it like that. Even if he will just say, if I commit to buying a business or commit to being in online business for 10 years, it's going to be hard not to have incredible results. If you just commit to it for 10 years, if you commit to something for 10 years, you're going to be freaking great at it, and you're going to get success. So why, why I get why to because like, you want it now we want it now. Like, we want everything yesterday. But if we slow down and like coming back to what you're saying, if we slow down and actually just became nicer to our self, like what you're saying at the start, like, we're going to set ourselves up to win, not fail, most people set themselves up to fail. And it's only because they've been taught to.
William Griffin (25:37)I think that's right, we always think I should, you know, put a put a timeframe on this, and that'll make me go fast. And then I'll, it'll all just be better. And I'll get 50 things done in the day. And, you know, maybe that's something to work towards, perhaps, but to putting that on yourself at the very beginning is just like, you're just going to stress yourself out, like Jaryd, I was so bad about this, I used to, someone taught me to like set a timer on my phone, and put it on the table. And so if I have a task, or a timer, 20 minutes, this task has to be done. For me, that doesn't actually help. But I did it for a very long time. But all it did was stress me out and make everyone else around me think I was insane.
Jaryd Krause (26:23)You know, it's that's the Pomodoro tomato timer or something like that. Right? I have heard about that, too. You know, what's funny is that most people come to do coaching with me is that they want to do all these things, and what, and they want to get all this work done. And I actually tell them to do less work. And when they do less work like you like you're like, you know, this, this, this, this and I say William No, just like, just do this one thing. And then if you get it done, and you feel like adding another task on do it. But I'd slow people down when they join the coaching with me because it allows them to see more clearly, because they're going a bit slower. They're not going at hyper pace, and just trying to make everything work. And they do the one thing that's important that knocks over the big blocks, and they get the results. Like it's funny. It's funny that and you've probably heard this you do need to slow down to speed up, you just have to.
William Griffin(27:19)Absolutely I remember you telling me that and encouraging me that over and over again. And guys, for you listening or watching. It may seem like Jaryd and I are on friendly terms. And we've always been friendly and super respectful. But at the beginning, I was like what is he telling me to slow down for no one's going to slow me down. It was so it's such this mindset. And it's, it's so ironic, because by slowing down and taking the pressure off, however you want to put it just by slowing down, you end up going faster in the long run, because like if you told your four-year-old kid, okay, you're going to go ride this bicycle, learn to ride the bicycle right now. And just put that on them, they're going to get to just chill out slow down, you'll go maybe at the beginning slower, but you'll get better and faster, and it'll just be a better experience. Definitely, though, I did learn to ride the bicycle immediately. I just want everyone listening to understand. So the first time I tried to ride a bicycle, I didn't have glasses yet. And I ran into a tree and I quit riding a bicycle until fifth grade year five Geron and then I had glasses, and I immediately knew I could, I could ride a bike without running into a tree.
Jaryd Krause (28:38)That's a really good story that you shared because and this happens to people in different parts of life and business. And I think people really understand how much trauma plays a role in our own development. But you nailed it like you're killing on the bike first go, and but you crashed into a tree because you couldn't see that created a trauma that you may have not been conscious of at the time. Or maybe you were and you didn't get back on another on the bike for a long, long period of time. Some people do this with safer and online business. They're like, I am going to try business in two months. Didn't work as a traumatic experience spent all this time all this money didn't work, and they just go doesn't work. And they're not going to some people will never do it again. Some people will never come back. And it's a massive shame because they will go away and start nine businesses and likely fail the nine of them and then they'll create a big trauma around that. And then, alright, I give up. I'm going to just be a plumber for the rest of my life. And if you like Plumbing, cool, but these people that are trying to get away from it. Don't want to be plumbers.
William Griffin (29:43)Right. No I think that's exactly right. Okay, well, good. That kind of leads me to my next question. Actually. It's perfect. So sometimes you'll hear about one person who finds an online business in a month and then other people. It can take 10 months or two years or whatever it is.so what do you tell people who find businesses Help people who find businesses at different lengths of time is time. The only thing to consider here, are there other factors? What's going on?
Jaryd Krause (30:08)Such a good question. People count time, like it's important. And it can be if they believe it's important, but counting time is not the correct measure to getting a result. In my opinion, I believe we should count inputs. For example, somebody who finds a business in a month, they may have done due diligence on 20 businesses, right? In a month, somebody who finds a business in six months may have done business may have done dude on some 15 months. And then the person who finds a business in a month seems more successful than the person that finds a business in six months. But the reality is, the person who found the business in a month did more work than the person did. The other person found dead to find the business in six months, because they did due diligence on just 15 businesses versus Dylan's on 20 businesses within one month. So what should we actually count, we should count our inputs. So some people have the perception of like, oh, I can do this in a short period of time. Yeah, if you're single, and you don't, and you don't have a job, and you can put all your time into it, and you've got a bunch of money, and you're just ready to go, right. And you've gotten maybe a lot of, you know, personal things out of the way, and you just clean your schedule, and you can literally just do that much inputs, the same amount of inputs, somebody could do in a month than say somebody that has two kids, a full time job, a wife, and takes their kids to daycare and sports and stuff like that, they're not going to have the same amount of time. But it's still going to take each person roughly the same amount of inputs. But people count the time, they don't count the inputs. And that's where people trip up is like, see a case study? Oh, this person made a million dollars in one year. Okay, did they just go alright, this year, in 2023, I'm just going to start a business and make a million dollars. Most people that make a million dollars in a year have businesses, multiple businesses that have failed beforehand and learnt so much, or they already have other businesses that are million dollar businesses. And they know exactly the right path to take and the right steps to take and have the resources to spend the money to build a business up to a million-dollar price range or valuation, or income. Whereas if you just start with absolutely nothing, you just finish high school and say, Yep, cool. I'm 18. And I'm gone build a million-dollar business and you got no resources, the likelihood is very slim. So people are counting time not the inputs, like the inputs can be resources and resources can be time and money. Yeah, count the inputs and how many resources you can put into it. And that will determine how much you can put in a certain amount of time will depend on how fast you can achieve something.
William Griffin (32:45)Sorry, I think of it like, you can go to the gym for a year. But you know, how many reps did you actually do? And I think of due diligence is as the same way or how many businesses have you actually looked at and evaluated. It's about the reps. And another cool thing is the 50th business you look at, you're very good at looking at businesses. And so it's almost like it, that knowledge compounds, you become more skilled. And you're even the businesses you're picking are of a better quality. Because after you've looked at 50 businesses, you know, not to look at certain kinds of businesses. And so the ones you do look at are then higher quality. And it's just a compounding effect.
Jaryd Krause (33:27)We've got somebody that has done so much due diligence that they haven't found a business yet, but they've stopped doing due diligence, because they've done so much. And they don't feel like they're going to learn that much more they will, then they'll get practice and stuff, but they're not as active as what they were when they first started. And that's fine, in my opinion, because they know what they want. They know what business they want to buy, and they're gone buy a good business, they're in a way better position than somebody's like, no idea doing their second due diligence. I think the I think the gym analogy that you shared, William is really good. Like, people may be counting weight, like how much weight they could lose if they go into the gym. And somebody could lose, say, say if the goal was to lose weight, say you know, 10 kilograms or 10 pounds or whatever it is, and you need to lose that weight in a certain timeframe in a month. Somebody in a month might do 100 Pushups, and somebody in a month might do 1000 Push Ups. It's not the time it's the input of the 1000 pushups that are going to help the person lose the most weight if pushups were the input.
William Griffin (34:29)Absolutely. I was. You know, I'm always reading Warren Buffett. He said pretty much the same thing the other day. He's like, Yeah, the dude reads for a living he reads 10 hours a day about businesses for what seven, eight decades now. I mean, good grief.
Jaryd Krause (34:44)he's got those inputs.
William Griffin(34:47)So I mean, like, he thinks very highly of just lots of inputs that are very focused. So yeah, I think it's a solid way to go. This is something I wanted to bring up with you that I have not discussed. is with you yet, but I think it'd be here, I think it'd be valuable for people to hear out there. So you know, in our community, we stress if you have a content website to create great evergreen content for your website, and anybody listening, what we mean by evergreen is content that remains valuable over time. A great recipe is good now, and it will be good in five years, it's an evergreen piece of content. That's an example. So that's what we're talking about. My question is, you've also used evergreen in the sense of skills and things that you learn. So can you walk us through the skills that are useful to learn not useful to learn? And what is evergreen look like for evaluating what things you should spend your time learning?
Jaryd Krause (35:42)That's a good question. It depends. And I let this from mentor many years ago, who said to me, I've got a business that makes money through social media, particular platform, so Facebook, and he's like, but I'm never gone learn how to run Facebook ads, it's just a stupid, it's this dumb task for me to do. I was like, hang on a second, that's how all of your business comes in. He's like, Yeah, it is. But if I learn how to run Facebook ads, today, it's not going to be the same as running Facebook ads tomorrow. So I'm gone need to continue to learn it. And I'm going to need to continue to do that job. Whereas if I learn how to hire somebody who can do it, I'm going to learning how to hire somebody, and recruiting somebody is going to be an evergreen task. Because I can do that again and again, and again and again and again. And I can have that person run the Facebook ads for me, or I can find somebody else who is better in two years’ time to run the Facebook ads for me. So I'm learning an evergreen task, and I'm not learning a non-evergreen task. And also, do I want to be running Facebook ads for the rest of my life in my business? Probably not.
But that said, sometimes we do need to learn things to get through certain phases in our business, for example, with a content site, it's worth us knowing at least a little bit about SEO. So when we hire an SEO, we're not getting taken advantage of. So we understand at least what they're doing makes sense and is correct. So it's good to have an overall broad view of the certain tasks that need to be done within your business. But you don't need to know how to specifically do it. Like people asked me how do I change this on WordPress? Like you don't ask me this, like that's Google, ask Google. Because I don't know, personally. And it's not something that I would ever learn. Because I'm not I don't want to be changing things on WordPress sites for the rest of my life. Right? But at the start WordPress 10 years ago, yeah, like 10 years ago, when I first started my first online business. Yeah, I'd learnt WordPress because I thought I would have to use it for years and years and years. And I did, but it's not a worthy task for me to continue learning because it's changing life. So those things that change like tech, it's not evergreen, so only like to try and teach evergreen content and have evergreen content, if that makes sense. That makes sense.
William Griffin (38:05)That does make sense. I mean, I did a bunch of SEO stuff. Today, I got back an SEO audit from one of my website. And I was doing SEO stuff today. And you know, sometimes you just need stuff to get done. And sometimes you need to move forward. So you do stuff. And so that's how I'm taking this as an opportunity to let's get this done. Let's learn some SEO so that I don't Yeah, like you said, don't get ripped. So I can a little bit understand that more or more of that aspect of my website. So I just take it as an opportunity. But am I going to seek out 10 more opportunities to learn more and more SEO? No, I'm not going to do that. I'm going to learn how to build a team, for example, as a more evergreen skill.
Jaryd Krause (38:48)That's right. That's so good. Building a team is a great evergreen skill. And learning how to do due diligence on SEOs is a great advocate or any anybody that you're going to work with as a great skill, because you'll be able to use that for the rest of your life. Right? Just like due diligence, like it's something you will learn to do for the rest of your life. And you'll have to do through the rest of your life and then hiring somebody that isn't SEO, they've got their whole career behind them, how you going to bait somebody, that's an SEO if you've just started like, it's crazy.
William Griffin (39:16)And that's even that idea of like an evergreen skill. I think, I think one benefits of buying and growing a business is in a sense, that's an evergreen skill, because that takes an emotional stability, and a sobriety that is very, that's an evergreen character trait, I would say. And then the ability to identify, you know, what's working in your business and how to grow your business, like these are evergreen skills that online business can be a catalyst for you to learn those evergreen skills. So that's, that's partially what drew me to, personally what drew me to purchasing an online business. I think I shared that with you at the beginning. Yeah. And it has been it has been a great catalyst. I think people often miss like, business. I'll touch on this, maybe it was a couple questions later where maybe I can ask about that. But business can be a catalyst for personal growth. It's one way to create value for people and serve people, which is like, you know the point. But you can also use it as an opportunity to sharpen yourself and become a better human.
Jaryd Krause (40:21)Spot on I believe, business and relationships make you a better human. If you if you draw a lot from each other was good.
William Griffin (40:31)Sbout pointing out relationships, always forget about that relationships.
Jaryd Krause (40:36)Relationships are everything.
William Griffin (40:37)It's always surprising to me when, you know, even if you if you're speaking to 20 different sellers of businesses, you still I mean, obviously, you want to be a good person to them and still, you know, try to bring them value and, and try to serve them in a way and have some kind of good relationship with them. Because it's the world's not like the world is a pretty small place, and you need to like, just kind of give value wherever you are. And I appreciate you pointing that out. A long time ago to me.
Jaryd Krause (41:09)So welcome. We can't do it all ourselves as much as I used to try.
William Griffin (41:16)Like Atlas holding the globe on the shoulder. So, exactly. Man. Great. That was a nail to Evergreen. I really want to touch on that. Because I had that insight. Today I was doing some writing and I was like character traits are evergreen, and emotional stability or emotional intelligence, you call it it is an evergreen skill. And you know, strategic thinking is an evergreen skill. But me learning how to weave this basket under water is not an evergreen skill, you know? Thought so I was telling myself that today is I did 1000 meta tags for SEO purposes, but I won't geek out our audience right now.
Jaryd Krause (41:57)Let's not go there.
William Griffin (41:59)Let me ask you this. Jaryd. Have you had any surprises lately? Anything you've learned lately that you either weren't aware of or something that you thought was true but turned out not to be true or vice versa? So any surprising things that you've learned lately that you'd be keen to share with us?
Jaryd Krause (42:17)I thought you meant surprises as in like I did get a surprise the other day somebody just delivered me a surfboard Pat What is this from so there's a surfboard grip on the on the surfboard is here you see that? There's a little black like foam piece at the bottom of surfboard where your back foot goes. Somebody just sent me one of those like that’s nice.
William Griffin(42:38)Hey, that counts.
Jaryd Krause (42:40)That was a surprise. surprises all the time. One of the latest surprises is I did a meditation retreat just after Christmas. And my surprise was my insight was that I don't need to work so hard. Like I force I used to force growth so much I used to do I used to put packing so many inputs. And I think I've done enough inputs that if I just keep taking action, it's not going to get me to where I need to go or not going to get me the results I want so the insight that I got there was a massive surprise is like if I and I think we already reloaded this already is like do less if I just he'll different parts of myself he'll different parts of my business. I can let it happen. Like if I just heal this, it'll happen. If I heal this other thing. It'll happen rather than me just like try and like build a mountain over the top of this other thing that's like, I'm just going to force this thing to grow with like, more water on fertilizer, whatever it is, it's like, let's just let's just slow it down. So yeah, I'm always getting surprised by that. And I guess we just covered that all throughout the whole podcast here anyways, so it still catches me off guard like I still slip into because I for this for the pattern that I had for maybe a decade and a half of this like pure force and wheeling things into existence. It's a pattern that is inherent in me. And it's like it's a double edged sword where I'm like, my biggest strong suit is like, Yes, I'm an action taker. My biggest downfall is I'm an action taker.
William Griffin (44:18)Well because you can be wait, why is that? Why can it be a double edged sword?
Jaryd Krause (44:22)So being an action taker can be good because if you need to get something done, you just take action, you get it done, right. Being an action taker as a pessimistic thing, or not so good that where it can be a negative is that if I want to get something done, I'll just take action and maybe not have thought through as well. And I've built something that's like this is ugly, or this has actually got me further away from my real goal because I didn't sit down think about it and have good some good strategic thinking about it. It's a double edged sword and I'm grateful for it. Like I now I can use both powers of it and I can and I can lean into the action. Like if stuff needs to get done. You call on me like, I'll get it done. Like, there's no doubt about it right? All my friends and family know if things need to happen like it's done. It's just considered done. But now I have to realize that Alright, do I need to do this task? Do I need to take action on this right away? Maybe I'll slow down? Or how can I, you know, how can I can strategically build this in a way that everybody wins, including myself? Not me just doing it all myself and burning out and then nobody wins? Because I've burned out. And I failed everybody, because I got in the way. Does that make sense?
William Griffin(45:38)No, that does. I love that. I think that's going to be a good. That's a good insight to have for 2023, you know? Yeah, as this podcast, we've been in the clouds. We've been talking a lot about emotions, you know, so just bear with us. But I want to have one very practical question. And this is a case study. So I'll read you some originally this short paragraph up there. There's a 39-year-old guy in Los Angeles, he has a wife and a kid. He's got a job. He's got 60,000 that he's willing to put towards an online business. Those are the facts. What would you tell that person listening right now?
Jaryd Krause (46:19)What was his question?
William Griffin (46:21)Okay, this question is that, that is potentially a lot of our demographic is that person, someone who has a good job, some savings? This isn't this isn't everybody, I'm just picking from our demographic. There's a man out there. Let's just say he's a man, it could be a man or woman. But they're weighing whether to buy an online business, whether to start that journey. They've got savings, I mentioned 60 grands, they're on the fence there. What should they be considering? Given the facts that I just mentioned?
Jaryd Krause (46:52)It's a really good question, like I said before, is challenge everybody and everything. I would say if you want to buy an online business, go and prove to me that it's not a good, it's not a good thing. Go away and look at the stats of startups, go and look at the stats of people that are actually successful day trading stocks, and trading entities and trading anything. Look at some of maybe the most successful people in the world. What do they do? Do they always create businesses? Or do they buy businesses? And if they do create businesses, how long did it take them to really get to where they're at, versus people who bought businesses? So challenge the whole thing? Look, I would also say go and look at website brokers. Look at the data on how much businesses cost, what return you could actually get what time input you would need to put into the business, what task input you need to put in the business, Google to see how much it may cost you to hire a writer to write the content. It's crazy cheap, and challenge it and consider it and prove it wrong. If you can prove it wrong. Great, do the other thing. But if you can't prove it wrong, I believe it's a I believe it's the thing that you should be doing. I'm pretty biased. I'm all about it. We've helped so many people, buy businesses, I actually got a message from I was emailing a bunch of people that were in the inner circle and have been for many years, people that have come and gone and just checking in saying hi. And one of the guys got back, he said is that all things are really good. He's name's Jeff. He said, things are really good. The website I bought, it's humming, it's making great money. It's doing so good. In the new year, I'm going to take a one-year sabbatical from my job just to just to see what this no paycheck life is actually like. And he said, why would I do that? Because I can .So this method works. And Jeff didn't buy a business in two months or three months. It took him a little bit longer and he stayed the path. And because he stayed the path he's now reward and replace his income. So have a think about it. You know, check out our case studies and check out you know, to see if this is the right method for you. And don't rush. Don't rush into buying a business. Don't rush into joining the community if you don't want like think about it and ask us questions. And if you can't prove it's a bad idea, then let's go. We're here.
William Griffin (49:06)It challenge everything. Think for yourself, Jaryd. So awesome having you on man.
Want to have more financial and time freedom?
William Griffin is a Buying Online Businesses Graduate having bought his own business working with Jaryd and started multiple businesses on the side. With extensive experience in buying websites he is a Due Diligence Specialist at B.O.B along with Deal Flow Manager and all round funny stand up comedian in his spare time.
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 are around making a real tangible impact on people’s lives.
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