Ep 275: Lessons From $490M Of Online Businesses Sold with Empire Flippers CEO Justin Cooke

Join us as we dive into the valuable lessons learned by Justin Cooke, the CEO of Empire Flippers, who has overseen the sale of over $490 million worth of online businesses. In this special podcast episode, we explore the strategies, challenges, and success stories behind the world of online business acquisitions and sales. 

They have talked about what Justin has learned about M&A over the past 14 years. How has acquiring an online business changed over the years? When did financing become a thing? Why POF? How do you hire the best mentors and decide? How do you create an environment/community of people like you or who you aspire to be like?

Get ready to uncover the insights that could reshape your approach to online business, whether you are a seasoned entrepreneur or just venturing into the digital marketplace.

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Episode Highlights

02:16 – How do you sell your online business?

09:00 – How did the Empire Flippers start?

11:38  – What’s good for acquisition entrepreneurs?

15:47 – Changes in the Acquisition Industry 

20:01  – Finance for other lenders

27:34  – Strategy for offline business “

42:52  – How do I find quality mentors?

Courses & Training

Courses & Training

Key Takeaways

Jaryd and Justin share experiences of health crises related to their entrepreneurial journeys, highlighting the dangers of overworking and neglecting personal well-being in pursuit of business success. This underscores the importance of maintaining a healthy work-life balance.

Justin shares insights from over a decade of experience in M&A within the online business space. He highlights the importance of not blindly following trends or dismissing older business models. Successful niches and business models can endure despite shifts in industry trends. Justin emphasizes the value of niche markets and adaptable strategies. Business success often lies in identifying profitable but overlooked opportunities rather than chasing the latest trends.

➥ Justin discusses how the landscape of acquiring online businesses has changed since 2010, with increased sophistication among buyers, improved diligence processes, and growing competition in the market. The industry has seen a shift towards a buyer’s market, providing opportunities for savvy purchasers to negotiate better deals.

About The Guest

Justin Cooke is the co-founder and CMO of Empire Flippers. They have sold close to $500M worth of online businesses and have changed the lives of many business owners who’ve sold and acquired businesses through them. Being one of the industry leaders, many of my clients buy businesses from Empire Flippers, as they typically have such a great caliber and range of online businesses to acquire.

Connect with Justin Cooke

Transcription:

Jaryd Krause:

Hi, I’m Jaryd Krause. I'm the host of the Buying Online Businesses Podcast. And today, I'm speaking with Justin Cooke, who is the co-founder and CMO of Empire Flippers.

They have sold close to $500 million worth of online businesses and have changed the lives of many business owners who've sold and acquired businesses through them.

Being one of the industry leaders, many of my clients have bought and sold businesses from Empire Flippers, as they typically just have such a high caliber and range of online businesses to acquire.

Now, in this podcast episode, Justin and I just have a good old chin wag. It was like chatting with a friend that we hadn't chatted with in a long time.

We talk about what Justin has learned in the last 14 years since starting Empire Flippers and, in the M&A realm, mergers and acquisitions.

We'll just talk about how acquiring online businesses has changed in that period from 2010 up until now, how the caliber of businesses being sold and acquired and the caliber of investors has only grown and increased and why you need to be on your game during due diligence as well.

In fact, we do talk about buying businesses here. If you haven't got my due diligence framework, make sure you go away and get that. There'll be a link to that in the descriptions.

It's what I use, and many other people have used it in terms of my clients and a lot of people buying businesses from Empire Flippers have used this due diligence framework to acquire great businesses. So check that out.

Justin and I also talk about when financing becomes a thing and what size acquisition people start to use finance for, in terms of outside lenders, SBA, seller financing, and different ways to finance in terms of seller notes and all that sort of stuff.

We'll just talk about proof of funds. I asked Justin a question on why people need to show proof of funds to get access to the deals that you sell in your marketplace. I think it's a very good strategic move for everybody involved in acquiring a business from Empire Flippers.

Also, Justin asked a couple of questions towards me, and we had a bit of a chat and a chinwag around how to hire the best mentors and how to decide which mentor is right for you based on what you want to achieve, how to hire a mentor or disregard hiring a certain mentor based on their character and philosophies and things like that.

We also talk about creating an environment or community of people who are like you or who you aspire to be like and how that can support your growth towards your goals and your career in the online business space.

Now, there's so much value in this podcast episode. I'm sure you guys are going to love it. So let's just dive straight in.

Do you have a website you might want to sell, either now or in the future? We have a hungry list of cashed up and trained up buyers that want to buy your content website.

If you have a site making over $300 per month and want to sell it, head to buyingonlinebusinesses.co/sellyourbusiness. Or email us at [email protected], because we will likely have a buyer. The details are in the description.

Justin, welcome to the pod.

Justin Cooke:

Thanks for having me on, Jaryd. I appreciate it, buddy. It's been a while.

Jaryd Krause:

It's been so long. We've got some health things to talk about, both you and me. I'll share with mine while I have this thing on my lips. I was surfing and I pulled off the back of a wave and sort of got a little bit airborne.

And as you pull off the back of the wave, normally, you'll pull the board underneath your belly and then land on the water and sort of paddle back out. I went to do that, and a bit of wind hit my board and turned it sideways. And I just smashed my face against the rail, the side of my board and nearly put the tooth through it.

Somebody thought I'd just wrecked my whole face when I was out there because the blood and the water made it look really bad. But just a couple of stitches, if people are wondering what that is.

Justin Cooke:

I was going to say that's a complicated excuse for getting smacked in the mouth by some guy in balling. Yeah, that's pretty—

Jaryd Krause:

Exactly.

Justin Cooke:

I made you laugh too much. You should split it up even wider.

Jaryd Krause:

Now, a lot of my friends said, “Hey, you should just tell the story a bit differently. Like you pulled into this crazy wave that was four times overhead or something.” Yeah. But I also want to say congratulations, man. When I saw a video of you on YouTube, I was like, “Justin was looking damn sharp.” And yeah, congrats, man. You started talking about it before we hit the record buttons. And then I was like, “Well, maybe we can chat about this on the pod.”

So, yeah, congrats on being like a machine. You look like a machine now. It's sick.

Justin Cooke:

Thanks, man. Yeah, I really appreciate it. We've been talking before, and I'll just kind of tell you the story. For a long time—and this is completely wrong, and I'll explain why later—I felt like I'd sacrificed my personal health a bit for the business.

10 or 12 years ago, I was just so heads down, trying to hustle up to make our business work at Empire Flippers, right? And I was like, you know what, the health stuff—I made an excuse. The health stuff I'll put off, I'll put off.

Well, in 2021, we are going to a conference. We had our company conference in Vegas. It was a blowout company retreat in Las Vegas.

Flying on the way there, I twisted my knee a little bit. And I felt this pop and this wave of adrenaline come over me. Bad, obviously, but a good feeling is the strangest thing. But we were flying; we were taken off. So there's nothing I can do about it.

So I get up to go to the bathroom an hour later and I realize I can't walk. I literally can’t walk on my knee. And so the flight attendants come over and they bring someone from the back and my blood pressure is 190/100. And who knows what the blood pressure numbers should be? Those are not the numbers they should be.

So some firefighters took me off the plane, they asked if I wanted to go to the hospital, I said no, and I'm basically put in a wheelchair, and I went to the Cosmopolitan in Vegas. And my wife wheels me into the hotel; we get to our suite or whatever. And it was a real low point for me. I was like, I'm just screwed. I don't know what to do.

So the next day, we go to a doctor, a surgeon, a knee surgeon, and do an MRI. He goes, “Look, it's a torn meniscus, right?” Okay, torn meniscus. He's like, “But you know, the problem is, it's not just your knee, because we could fix your knee. If you need surgery later, we can do it.”

He's like, “It's your weight.” At the time, I was much bigger; I was almost 400 pounds, 380 pounds, or 385 pounds. So I was a big boy. And so the doctor's like, “Yeah, lose weight.” I'm like, “Yeah, of course, lose weight, right?” I've heard that before. I thought of my first rodeo.

And he's like, “It's going to be a real problem for your other knee or whatever.” I was like, “Yeah, I know.” He's like, “No, there's like ways to do this now.” I didn't say this, but we're not in the Stone Age. There's a way to do this.

And he's like, “There's a surgical option.” I was like, “I don't know, doc, surgery is really risky.” And he impressed on me, “Well, surgery is a little risky, but being that big is way more risky.” And I hadn't thought about it that way.

So when he put it that way, for me, it just kind of clicked. And I started looking into it. And I made a decision to get what's called a gastric sleeve, which is basically where they cut out a portion of your stomach. And then you have to recover, and you have to change all your habits, eat really well, and work out.

This is January 2022. I put a real focus on diet and nutrition. I hired a nutritionist, I hired a trainer, and I started learning how to cook. And so I really kind of changed my life to reflect the kind of person I was becoming.

And in the process, I lost about 170 pounds, I'm around 210 to 220 right now. It's kind of where I fluctuate and am in way better shape. I feel so much better. My blood pressure dropped below normal. I don't have any medication. I feel quite healthy.

So, yeah, I mean, that doctor really put it in a way for me that was super helpful. And so, as you know, every chance I get, I try to tell other people about it, because I feel like I'm a newly converted Amristian, where they're trying to spread the word. You know what I mean? That's how I feel right now.

Jaryd Krause:

That's so good, man. Congrats. I have had some health crises in my life that I talk about with my friends and other people because they're so important.

And you mentioned something about what you might be doing in the future in terms of media. And I also had a similar thing. I think most entrepreneurs go through this, especially when we really buy into the hustle, hustle, hustle phase of our career or business.

I got so sick that I got glandular fever, and I didn't know, and it turned into Epstein–Barr virus, a serious, serious case. And I went to an alternate health doctor for something completely different, which is a year and a half later of getting glandular fever.

And I just worked through it. And she's like, “No, dude, you need to not work at all. Or do five hours a week, 10 hours a week max.”

And I think it’s really debilitating for us and we're not very good for the business or our career when we do this, but I think we buy into the hustle culture so much. So I look forward to seeing what you come up with in the future and how you discuss and talk about these things.

But I want to dig into Empire Flippers, man. Congrats on what you guys have built. I just checked the stats, and you say on your site, you’re going to need to update it very soon because you say $450 million worth of online businesses sold, but it's actually $490 million now. So you're close to the front.

Justin Cooke:

Yeah, we're just under $500 million. It's like $500-ish million.

Jaryd Krause:

That's so cool. So, when did you and Joe start co-founding this? What year did you guys start that?

Justin Cooke:

Well, we started an outsourcing company in the Philippines around 2009. And then we moved to the Philippines in 2010. And we started a project—it wasn't even a company. Our outsourcing company, our main company, started a project that we called AdSense Flippers.

And the whole idea was to create niche AdSense sites, small little sites about silly stuff like catconstipation.net and cremation prices.org, things like that. And monetize it via AdSense, or Google AdSense. You put some code on your site, and it displays ads for people and people click that and you get paid.

And so we started building these little sites. And unlike everyone else who would sell you a course on it or give you some and hold the rest back for paid members or whatever, we're just like, “Look, we're going to put it all out there for free. Here's exactly what we're doing. Here's companybuilding them.”

And it really resonated with people. At the time, that was kind of breaking the mold. And so we built up an audience of people who were kind of interested in what we're doing.

And then when we started selling the sites, I think a lot of people were just like us, like, “Is this internet money thing real?” They were like, “Can you really make money on the internet? How's this work?”

And so they buy the sites just kind of wanting to give it a scratch, wanting to give it a try to see if it's legitimate, if you can make 100 bucks a month, 200 bucks a month from a website.

Jaryd Krause:

Yeah. That's cool, man. So 2010, it's just around 14 years ago.

So I wanted to ask you, going from selling small little AdSense sites, which, as we know, aren't the most ideal sort of media business to buy at the moment, just because of the environment, which will change, we know that.

So that's roughly 14 years in M&A, mergers and acquisitions, and selling businesses. What do you feel are maybe the top two things you've learned? They might be strategies, philosophies or mindsets—things around M&A—that would be good for acquisition entrepreneurs to know about.

Justin Cooke:

Yeah. So one of the things I'll mention is that online entrepreneurs, online gurus, or whatever you want to call them, there's a Johnny-come-lately aspect to what they talk about, right?

And it's often about who's ever offering the best affiliate commissions, has the hottest course, or whatever kind of niche is the hottest right now. It's AI; it's been crypto; it's been all kinds of things, right?

And so you're going to have people talking about whatever the latest thing is. But that doesn't necessarily mean the other things are dead, right? I'm not even sure what people are talking about anymore but talking about big dropshipping is dead. There are people out there with dropshipping sites that are crushing it, right?

Now, content sites are actually in trouble because of the SERPs. But there's people with content sites who are making a lot of money right now—a lot. But a lot of people got hit, to be fair. It's rough out there. And Google's struggling generally.

But the bigger point, though, is that whatever people are talking about is not necessarily the area in which they're making money.

So people have a lot of geographical sites, content sites that are what Pat Flynn did a very long time ago, security guard training in certain areas, or certified nursing courses in certain areas. There are sites just like that and similar niches that are out there crushing and making money. And people have talked about that for 10 years.

So, yeah, I mean, it's not always about what is the latest fad, or the things people are talking about. There are people out there making money in niches that are old or that are dead.

Jaryd Krause:

I love that. I love that. I call it evergreen business models and evergreen niches because I think the best gains in our career, as an acquisition entrepreneur and in business and life come from compounding and come later down the track versus I need to make this money now.

Which I totally get. Most of my audience is, “Hey, I need to replace my income. I do not like this lifestyle.” And I get the rush and just the absolute sheer drive to get out of that role or that sort of lifestyle and try and get income as soon as possible.

But like what you're saying, to add to what you're saying, it's really those good solid, stable businesses with evergreen niches in an evergreen business model that are going to provide years and years down the track. And versus having to get into when dropshipping was a big thing.

I see that you've got three main business models, right? You've got media businesses. You've got SaaS and membership businesses or subscription type businesses. And then you've got e-commerce businesses.

Dropshipping is just a type of e-commerce. Amazon FBA is just a type of e-commerce. Amazon FBA might not be that big in 10 years’ time. If somebody else comes out and just crushes Amazon, it's possible.

People might be sitting here thinking, “How is that a thing? Because it's Amazon.” But it's possible. You look at big companies that have fallen.

Google's struggling right now as well, hence why content sites aren't doing so well. But content sites are just a type of media business. You can get traffic from other media sources other than Google.

Justin Cooke:

Yeah. Amazon might not be out of business, but Shopify and Walmart might eat up some of their market share, so they're no longer a dominant party. There are other parties that are worth exploring and people are building sites on that kind of thing.

Jaryd Krause:

Outside of obviously business models and the industry of online businesses in itself, I want to ask about the acquisition industry and how things have changed in that time from, say, 2010, to now, and how people are acquiring businesses.

And what do you see for the future of acquiring businesses, and how might it change as well?

Justin Cooke:

Yeah. So what we saw in, I'd say, 2010 through 2015—I mean, we saw a lot of unsophisticated buyers because a lot of the sites we were selling were much smaller content affiliate type sites.

So it's really hard for me to say if it was the industry or if it was our kind of role in the industry. Come that as it may, I mean, buying online businesses or buying websites—those were early days, right?

And so we've seen a lot of growth in terms of the types of online businesses people are building, the diligence going into purchasing these businesses, and the competition around both trying to sell your business against other businesses that are quality and looking good and on the buy side as well.

So you're competing with other people. If you're asking for seller financing, is the other buyer not? If you're offering 80% of the lists, are they offering 90%? So there's a bit more competition around that.

I'd say right now, and I think you must have talked about it, there's been a shift toward a buyer market. So there's a lot more taking your time to find a quality business, trying to make sure you negotiate the best deal, getting the deal at the best value—it's the absolute best time to do that.

Jaryd Krause:

I've definitely noticed that when I bought my first business, maybe four years after you guys started selling in 2014, and I was even on your podcast, you guys interviewed me. I think it was Episode 188, called Newbie Norm, where I went from being a plumber.

And yeah, I was an absolute newbie, and realized that, and then got better and better at due diligence myself, and then realized people needed that and I see that.

Not to put myself on a pedestal, tout myself, or toot my own horn, because there are other people doing similar things, but we've actually helped people acquire better businesses. And by doing so, I feel it's helped people make sure they build better businesses.

And just through the industry as it's grown, people are, like you said, building better businesses, selling better businesses, which means the acquirers need to be a lot more savvy, which is so key.

Justin Cooke:

That's something that we haven't had a lot of in the industry, particularly in the earlier days. It's really started kicking; I think I'd say since maybe 2019, 2020, if you see a little more buyer representation.

So there are third party companies that will help you with due diligence in terms of reports and that kind of thing. There's guys like you that will kind of give you either a head check and review the business with you or do a lot of the work and put together a kind of report for you.

So those things are happening a bit more. Kind of hold your hand as you go through the process. And it's not a bad idea. I mean, it's been used effectively in the real estate market for a very long time. It's also helpful to have buyer representation both on the legal end, but also the kind of due diligence end, right?

At the end of the day, at Empire Flippers, we're representing the seller's interests. Many times the buyer comes in, and we're trying to work with both the buyer and seller.

We're trying to get deals done, trying to help the buyer get the deal done, and trying to get the seller to get the deal done.

But we're trying to maximize value for our sellers, right? Ultimately, that's what we're trying to do. So having someone represent the buyers, I think, is pretty good.

You know Ace Chapman, right? He was doing that. Before, there was hardly anyone doing that kind of buy side representation. I haven't talked to him for a while, but he is doing a lot of the offline business now.

Jaryd Krause:

He actually reached out to me maybe two years ago and we're going to do something together. I haven't heard from him in a long time, but yeah, I learned a little bit from him in the early days as well. I think he helped me buy my third acquisition or just overlook it with me, which is hugely, hugely helpful, right?

And yeah, he's such a lord in the industry. But now he's moving into a different sort of career choice, I guess. I don't know. Sorry, Ace, if we're incorrect, because we haven't spoken to you in a long time. Maybe all of us should just get on the phone.

Justin Cooke:

Yeah. Call us, man, and clarify, buddy. Yeah, call us. I was doing this Facebook tag room. I messaged him and then a month and a half later he got back to me.

Jaryd Krause:

Yeah. He's such a great guy. So I was going to ask about how you have noticed buyers becoming more savvy, and of course, through these methods, that's a thing.

Also, you mentioned financing. When it comes to financing and acquisition, I noticed that sometimes on small acquisitions, obviously, people have cash and they're going to win because financing can slow down the deal.

Where does financing come from in terms of using other lenders or using a lender to acquire business? What sort of size acquisition are you seeing that start to come in as of now?

Justin Cooke:

Yeah. So you're going to see seller financing above at a kind of minimum, maybe a $300,000 to $500,000 range, right? You're going to see sellers willing to finance a part of the deal, say 20%, 30%.

We're not talking 90% loan value or anything, but 20%, 30% of the deal paid out over time, either guaranteed or earned, or whatever. And you'll see that up until a couple of million, like seven figures.

And above that, you're often dealing with much larger kinds of roll-ups or organizations that have a portfolio of companies looking to just kind of bolt this one into theirs. And so sometimes it's seller financing, but the deal structures get a little more complicated.

You see some financing. We see some operator-investor partnerships where you have one or two investors with the kind of man-on-the-ground operator that has the kind of nuts-and-bolts experience and they kind of partner up to do deals.

So the operator is getting a larger piece of the pie, putting a little bit of cash out there. The investors are putting out most of the money to get the deal done and either taking notes or large pieces of equity or both to get those deals done.

But in terms of one thing that I thought would happen, it was that traditional finance would be larger in our space by now. And that hasn't materialized.

I thought—and I was saying this, I think, three years ago—that you see a lot more financing in our space and that would definitely increase multiples, right? Because access to capital would improve that.

I think maybe if interest rates had stayed quite low, maybe that would've happened. But with increasing interest rates, the cost of capital went up a bit, and yeah, it just didn't materialize.

So that surprised me a bit. I think that kept multiples from kind of going through the roof, which I think they might have otherwise.

So in terms of multiples right now, it's a pretty good time to buy, particularly in that kind of sub $3 million, over $300,000 range, because it's a sweet spot to buy because it's a tough range to sell in, right?

So there aren't a lot of operators sitting around with $1.5 million in cash to buy a business, right? So if you're looking to sell in that range, it's tough.

Now, if you're trying to sell your $7 million business, they're small private equity group portfolio companies that are looking to swallow up businesses of that size. But it's really tough if you're $800,000 or $1.3 million.

Jaryd Krause:

And also, I notice that when working with these people who might have $1 million in cash, $500K in cash, or between $500,000 and maybe $2 million in cash, they're not going to go buy with just cash.

They're savvy enough to go, “Hey, I could get a portion of this financed through SBA or through some sort of source and not pour all of my capital into the deal or put a big chunk of my capital into the deal, but also use finance to acquire a larger, maybe more stable, less risky asset.”

That's what I've noticed anyway.

Justin Cooke:

SBA, though, is really hard to get done on online businesses. It rarely happens.

Jaryd Krause:

And do you guys even offer that anymore? Do you guys even have people? Because I noticed that it was, I don't know, maybe a year or two ago that there were less and less acquisitions happening with SBA through Empire Flippers.

Justin Cooke:

Yeah, we do. It's offered, but it's so rare that it gets done that it's not even worth spending a bunch of time on. In fact, we've spun our wheels on so many potential SBA deals that never materialized. It's ridiculous. And there's a whole host of reasons for that.

But, yeah, SBA loans do not love online businesses. I mean, for one, when you're buying an offline business, there's often some physical real estate involved. There are some physical assets that can be retrieved.

I mean, when you talk about online businesses, it's really kind of bits and pieces, right? And so it's zeros and ones at the base of this thing. So it's really hard to leverage that if you're a lender, right?

And it's really hard to put any kind of restriction on that. So it's really difficult to lend against it. I think that's hurt that kind of financing of the space and, again, kept multiples lower than you might see otherwise.

I think because of the interesting nature of an online business, where it can be run from anywhere, anyone in the world can buy it, right? And run it from anywhere. That kind of opportunity is huge. It's way bigger than a laundromat in Tulsa, Oklahoma, right?

Let's say I'm in Sacramento and I see you've got a network of six laundromats in and around the Tulsa, Oklahoma, area. That's cool. But I had to move to Tulsa, and I don't know how to run a business in that city. I'm not doing that.

Jaryd Krause:

Yeah, it gets very heavy in terms of time resources and location resources for those types of businesses. And I get why people might want to buy them.

However, I also noticed that to grow a laundromat, you might need to acquire some more laundromats in the space and you’re really relying on the population of that area.

Not just foot tracking, but the population of the area and your marketing pool, or your audience, are limited to that certain place or location, where you have this sort of glass ceiling on a traditional business.

Justin Cooke:

Sure. You also have low competition. You're coming in as a national or international marketer and I mean, you're just going to destroy the laundry industry. You’ll do pretty well.

Jaryd Krause:

If you come in with some AdSense or ad skills—digital marketing skills that you can fire up online—then you're going to crush it. Absolutely. But there's also a ceiling to that, right? Whereas with online businesses, there's typically no ceiling, and you can grow so much faster with minimal resources.

Justin Cooke:

One of our marketing directors was at a conference and it was for local business brokers. So offline business brokers and stuff. And I was talking to one of them; it's kind of like explaining his marketing techniques.

And he was like, “You guys really need to be out there, like building an email list.” And our guys are like, “Yeah, an email list is good. Of course.” That's how we run our business. Strictly through email. We have a couple hundred thousand of them.

And then this guy's like, he's like, “Look, I do most of my business through email now. And I've got—can you believe it—450 subscribers.”

And my guys are like, “What?” And that's a local broker in the city or whatever, selling local businesses or whatever. So, I mean, it makes sense. But we're like, “Oh my God, dude. These guys are behind the times.”

Jaryd Krause:

450 email subscribers, yeah. It's very, very different from the online space, right?

There's so much opportunity in acquiring a physical business. I've thought about it as well, acquiring a physical business, and then just putting my knowledge into that could grow it so fast, but at the same time, do I want to deal with that? Not really.

Justin Cooke:

A lot of hassle too. What would you do? If you're starting an offline business—some kind of boring, traditional business, what kind of juices you up in terms of being able to market it?

Jaryd Krause:

In terms of marketing, it would be just taking over the audience. I would definitely have local SEO done as a long-term strategy. I would also definitely just get straight, depending on what the business is.

Justin Cooke:

What kind of business would it be? What makes you kind of excited that you could do something where they're branded out?

Jaryd Krause:

I'd probably have some sort of manufacturing business. I'd rather have it be a B2B sort of business where we manufacture some sort of product and then sell it to a bunch of drop shippers or suppliers.

Justin Cooke:

That's interesting. Okay. Yeah. I thought you were going to go through retail. All right. You like those B2B sales. You like those that have high ticket prices.

Jaryd Krause:

Absolutely. Because then you can have fewer clients to deal with and earn more money.

And I get where the risk ratio reward thing happens, where you might only have three or four businesses that you're selling to. And you might lose one. You could lose 30% of your income, but you could pick that up.

Justin Cooke:

There's a mode around that too that's higher than like a nail spa or something, right? Anyone ever up for a nail spa?

Jaryd Krause:

Yeah. Which is tough because the profit margins are so small.

But I think I would like to go to B2B and then I could just do some outreach. I could just hire an outreach team to find a bunch of businesses that want to require our products that are really, really good.

Or we could create an apartment in the manufacturing warehouse to actually manufacture products based on what that brand would actually want. And then just create that sort of deal.

I do have a client. I've seen it work really well where he sells retail, he acquires from a manufacturer and basically he builds the whole business. He was a sales funnel. He was a sales channel.

So I just look at different companies as the sales staff, basically for the manufacturing business and just have really good policies put in place for protection, IP and all that sort of stuff.

That's probably how I would go. I mean, that might be a bit more advanced than people thinking about buying a laundromat. But what would you do? What sort of offline business would you buy?

Justin Cooke:

God, now you have me thinking. I mean, probably a service-based business, right? I like services. Services are kind of fun for me. It'd be fun for me to market.

A number of years ago, they were doing this kind of maid service. And I think you can have a lot of fun marketing that brand.

Jaryd Krause:

Yeah, definitely.

Justin Cooke:

I think that's kind of fun. I don't know. Yeah, it'd probably be service based, though.

Jaryd Krause:

You could franchise that too. In Australia, we have this thing called Jim's Mowing. And in every city or suburb, you have somebody who’s a Jim's Mower and they will just hire Jim's Mowing and then they'll just pair you up with somebody who will go and do your yard care and all that sort of stuff.

And then they went from Jim's Mowing to Jim's Cleaning, and then to Jim's Cleaning to different sorts of things. So definitely.

Justin Cooke:

Target the high-end neighborhoods too. You just make so much more money. It's good.

By the way, I don't even know if this will make the show, whatever, but there's a niche out there that is crushing it. I have this personal friend, not a business connection, a personal friend of my wife and I'm from the Philippines, which we knew back then.

She's in the US now and absolutely crushing it with this. What is it? Non-permanent, semi-permanent draw on the eyebrow. It's called Brow Queen. She's in North Carolina. Her brand name is Brow Queen.

She's good on TikTok. She does the Facebook reels and stuff, but she's crushing it. And their margins are huge. It starts at $500, $600 to get done.

Jaryd Krause:

Really? And it's non-permanent; it's not a tattoo.

Justin Cooke:

It's not a tattoo, but it is. I don't know. It's like a semi, dude. I'm not the right person to ask about. That's my wife. But it's some kind of thing where it lasts a year or a year and a half or something. But they're making a bank with that, dude, like real money. She's crushing it. I’m so, so excited for her.

Jaryd Krause:

Yeah, that's so cool. Congrats.

While we're talking about a niche, I had this question in my group as well. Some people find it really, really hard to find a business in the niche that they like.

I think that's a limiting belief. I'm not big on just focusing on a certain niche unless it's your passion. Because most people that come to this realm are like, “I want to just quit my job, and I just want to make an income.”

So why are you focusing on niches so much when you should be actually focusing on where I just make money? How do I make it less risky so I can stay out of a job?

What are your thoughts on people finding the right niche or buying a business in a niche that they like? I get that there are some niches that are better than others.

Justin Cooke:

I totally agree with you. You don't have to have a passion for the niche. You're going to find a passion for something in the air.

So, for example, let's say, I love the kind of—I was just talking to a guy in the mastermind I'm in whatever, and he does YouTube videos. So he has a YouTube site, and he loves the behind Which thumbnail do I use? And the analytics of trying to dig into it.

The videos. He's like, “Eh, well, I like making them, but I love trying to make them better and draw more eyeballs and get them to stick longer on the video.” You probably know all this stuff, right? So he loves doing it. He dorks out on this stuff.

And so the niche, and specifically, he's in the barbecue niche. He likes barbecue; it's cool. But it’s not like he loves barbecue. He’s not deeply passionate about it. He just likes digging into the data and that's something he loves to do. It's fun for him.

So, yeah, I mean, you're going to find something in your business. Maybe you are a people person, maybe you like to mentor people.

And so having kind of junior employees or kind of apprentices, depending on what your business is, that are kind of up and coming and you can guide them and kind of show them the way. Maybe that's the fun part for you.

You know what I mean? You're going to find something in your business that you'd love to do.

Jaryd Krauis And like anything, there's some part of life that you don't love to do. I don't like cooking; I don't like cleaning in my life. Same in some parts of my businesses. I don't like that task. In fact, it makes me feel restricted if I'm working on this thing.

Typically, if you stay in business for the rest of your career, there's only a certain phase that you need to go through where you need to wear all the hats and do all that sort of stuff for a certain period of time.

Until you get to the point where you go, "Nah, I don't like this part, and then I really love this part, and I just want to do what I'm good at and what I like, and then I can hire somebody to do what I'm not good at, which they actually like to do.” And it's just a phase.

Justin Cooke:

Jaryd, you got to get through the suck. That's the truth, right? You got to get through the suck, and in the beginning part of your business, you're wearing all the hats, you're doing all the work because you have to figure everything out.

No one's going to hand it to you on a silver platter; you have to go through the ropes and figure out the process. Once you do that, you could start handing that off.

Now, that makes it worse at times, right? Because now not only do you have to do all the work, but you have to find someone worth hiring, hire them, onboard them, and then train them to do the work while doing the work yourself. That's the shittiest it gets, right?

Once they're trained and they're working on it, then you're like, "Okay, I can breathe." But that process can be grueling.

Jaryd Krause:

Can be grueling. And I just consider it training as well. It's a really good training piece for me because, mindset-wise, these smaller little challenges that pop up—what is it?

It’s just getting me ready for these larger challenges that happen in business and life, so that when they do come, I'm not freaking out, I don't lose my hair, and I don't lose my marbles.

I have the capacity because I've slowly trained my way up to be able to deal with those larger problems or problems that may seem very, very stressful for somebody who's starting out. But if you work your way up to it, it makes it so much easier.

So I think people—well, it's most of us, we want things without having to do the work, but the reality is, it's about the journey, not the destination, right?

It's so cliché, but really, you need to do that training to become the person who deserves to have those sorts of results or achieve those sorts of things. Have you noticed that in your career?

Justin Cooke:

Yeah, I'd say, at an early stage, it's actually very helpful to have failures. Later too. I mean, you learn from failures, obviously.

But to have those failures and then to get back up and start making it work again or kind of building back, that's really helpful in understanding that I can fail, I can have these setbacks, and I can work through it, right?

And it's empowering to some degree because you do it a couple of times and then you're like, “Okay, I think I know how to weather these storms.” And then another one hits you. You're like, “Okay, well, this is a new challenge. How do I figure this out?”

And you start to get good at problem-solving, right? And that's such a valuable skill to have as an entrepreneur because it's always one shoe dropping after another, right?

There's one bad thing happening or then there's Google updates, there's Amazon account issues and there's all kinds of things that could happen in business.

So being able to start to try to anticipate where the shoe is going to fall and put yourself in a better position to deal with it falling is a great position to be in.

Look, I make it sound like I went through these problems and now I see it all. I can't do it either. I'm just saying we have our own problems, I get shit on too; I screw up now, right? So it's not like I figured it all out; I at least know what I don't know.

Jaryd Krause:

Yeah, yeah. And if you're like me, you're going to just keep making failures and it's great because they're the lessons and they help make you very, very resilient.

Those failures—it's like they put you in the gym, you get a slap in the face, and if you get hit in the face like I did from my surfboard, I'm only going to learn from it far better.

People are going to be a bit upset if I don't ask this question about Empire Flippers. A lot of people ask me, “Why do I need to provide proof of funds to be able to see some listings through Empire Flippers?”

And I totally get your part, I think it's a very, very smart move. Why wouldn't you? There is a lot of time wasted by people wanting to acquire assets that may not have funding and are just kicking the tires, really.

Is that the main reason? I'm sure there's other reasons within that as well. But yeah, talk to me a little bit about why we have people submitting proof of funds.

Justin Cooke:

Yeah. So we provide a full-service experience, right? And so oftentimes, particularly in larger businesses, you're having our own salespeople that are guiding the seller through the process, walking the buyer through the process, and doing a lot of work on both ends.

So making sure that we're protecting their time is important. And again, you mentioned it to make sure we're protecting the seller's time.

The reason we're able to get such high-quality businesses at Empire Flippers is because sellers know if I go there, I'm not going to be dealing with two dozen tire kickers.

I'm not going to have my time wasted on the ups and downs of someone's interest. No, they're just fake. Someone else is interested. Oh, they're fake too.

So you know that you're dealing with someone who has proven the pudding and who has the funds to back it up. And so you're not just dealing with the tire kickers. And so one of the reasons we're able to attract much higher quality businesses is because we have that kind of process in place.

And there's also just a general kind of weeding technique. Look, to be clear, we lose people that may have bought businesses with us at Empire Flippers because they just don't want to send proof of funds.

They are just principally against it or something, right? And there's a number of people we lose because of that. I'd say a small number, but a number of people.

But for all the other people, all the tire kickers, all the time wasters that we don't have to deal with, it's worth losing a small number of legitimate buyers that don't appreciate the process. And it's worth it for our sellers, too.

So, yeah, I mean, it's a part of our process that saves our people time and saves the seller's time, and it's just a really good weeding process from our perspective.

Jaryd Krause:

Definitely, definitely. I think it's a great way to go. I would be doing the same. So what's next for Empire Flippers, then? What's next for you, Justin? What's next for Empire Flippers?

Justin Cooke:

Yeah. So we talked about this before we even got on, right? I'm no longer involved in the day-to-day with Empire Flippers or even the week-to-week. We have Andy Allaway, who effectively runs the company.

I'm also a partner and involved with Joe and Mike Vranjkovic over at WebStreet, so I help out a little bit with the marketing over there, some of the webinars, and some of the work they do. But again, you know, not my day-to-day.

I find myself feeling much more like an advisor to both businesses at this point. Now I work with them when they need it, doing interviews or whatever they need.

But, yeah, I’m spending a lot of my time. I mean, obviously, with this kind of weight loss, working out has been different. I cook a lot, honestly.

And I told you about one of the projects I'm working on right now. I want to start a podcast around pivots. so I've had some life and business pivots in the last couple of years.

And I've talked to a lot of other entrepreneurs that have been going through or are going through similar things right now and are just trying to navigate those pivots, trying to come out of them on the other side, and be able to not just kind of be blown around in the wind, but actually pick up the direction and kind of chart your course. I think it’s super important.

And so I'm working on a show that I think will help with that. It's been a while since I've done podcasting. I was talking to you about how impressive your YouTube channel is. I hope I can build it up like you, but yeah, it's great, man.

Jaryd Krause:

Thank you so much. I really appreciate that shout out.

I have so much to say about pivoting, even just pivoting from a career to acquiring an online business or being in an online business and then pivoting a different way, or just in life.

I have mentors—all different types of mentors for different things. Spiritual mentors, mindset mentors, all that sort of stuff that sort of helped me get through and make decisions.

Justin Cooke:

What's your decision process for bringing a mentor? How do you find them and how do you get them?

Jaryd Krause:

Yeah, it's a very good question. So when I'm looking for a mentor, I want to find somebody that has either achieved what I want to achieve, and then I would preferably go through—now, I don't actively seek mentors now; this is when I first started out. I think there's a different phase for getting mentors.

Justin Cooke:

But it depends on what you're doing. Let's say you want to get into Brazilian Jiu-Jitsu, right? I don't know; maybe you're an expert, but let's say you want to get good at that.

You need some kind of mentor, coach, or guide to help you with that, unless you've done it a long time already. So, not just in a business sense, but generally, what do you look for when you're looking to kind of find or vet a mentor?

Jaryd Krause:

So again, it's going to be dependent on how much weight I put into the goal and the task. For Brazilian Jiu-Jitsu, I backed myself physically and mentally, I could just go and find somebody that's really good at Brazilian Jiu-Jitsu in my area and just work with them and start off from scratch.

And then what I'd look at doing is leapfrogging. If I wanted to become a professional BJJ fighter or a role model, or whatever it is, then I would go away and look at who is the best in the world at the task but also who has the mental game.

I'm really big on the mental game. I think the mental game far outweighs the physical game and who can help me unlock certain things in that realm as well?

Justin Cooke:

I think that's big at BJJ. But yeah, so you're saying look for someone a couple levels above that can get you the basics and look for someone a couple levels above that can teach you.

On a business level, I don't want to go like Elon Musk. If I sit down with an interview with Elon Musk, what can I learn from that guy so far ahead?

I mean, it'd be really interesting. I'd be fascinated. I wouldn't say no, but if I were looking for someone to learn from, he's just a tough case because he's so far ahead.

Jaryd Krause:

Also like—

Justin Cooke:

Yeah, sure. When does it matter? If you're looking for an entrepreneurial guru, a guide, a coach or something, what kind of life do they live? Are they married? Are they happily married? Do they have kids or not? Do you want kids?

That should matter. Because entrepreneurial lifestyles are really similar. There's a lot of overlap, a lot of tie-ins right there.

So, yeah, you do want to look at what kind of life they're leading outside of their entrepreneurship. Because they may be crushing it. They may have a ton of money, but they may be miserably unhappy and there's a relationship there that you have to pay attention to.

Oh, I don't give a shit about the chef I hire to help me cook healthy food. That guy could be cheating on his wife, thinking he'd be banging the maid. I just don't care. You know what I mean?

Jaryd Krause:

But if you're going to hire somebody that you want to really look up to and live a similar way, then I believe it's worth looking at their character and the philosophies they carry.

And how they walk through life in many different ways to ensure that you keep your own philosophies, you keep yourself grounded, and you actually stick to what you feel.

I also believe that someone really good can prove everything and test everyone. Test every mentor, test every person, and test everything that everybody says.

One thing that I like to do is listen to billionaires talk about stuff. And sometimes they talk about hustle things, sometimes they talk about mindset stuff.

And for me, I'm not a billionaire, but I do not agree with that, and that is not something that I would abide by or carry into my life and take for myself.

I believe that so many people these days, where I was, and I totally get it when I first started out, I was pretty desperate for all the knowledge, and I would just follow what everybody that did that was successful to a T.

In fact, that actually ruined me, because this is why I got glandular fever and Epstein-Barr. I once hired a mentor to build out the coaching side of the business when I first started buying online businesses.

And we did just under half a million in our first year and had a bunch of clients, hired a team, and I just overworked, worked too hard and all went to crap.

Because I was single-source dependent on Facebook ads, Facebook shut down my ad account, and then I had all this team I had to pay, and I was just absolutely miserable from it.

And I just built the wrong business model based on what I learned from somebody else that was successful and made a lot of money. He was crushing it, and I followed the model, and I made a lot of money, but my life was in shambles.

So, yeah, it's really testing people and asking questions like, “Does that resonate with me?” I don't know if you make many decisions from your gut, Justin, but I think it's pretty imwhotant, right? Do you do that much?

Justin Cooke:

Yeah, no, it's intuition to a certain level. And testing people. So, okay, I was looking for a surgeon when I did the surgery and, like, I went out like an entrepreneur. I interviewed a bunch of surgeons. I asked them very point-blank questions. How many people died at your table? How many people died within 30 days of the surgery?

And in one case, I knew for a fact that the guy had died because the family sued him after the fact. He was straight up about it, very honest about it. I didn't go with him. But that wasn't the reason.

If he had lied to me, or if he'd have said, “Oh, no one ever,” I absolutely wouldn't have gone with him. So yeah, I mean, I test people in that way.

I think the other thing is that what got them there may not get you there. So people ask me this, “How did you get started marketing? How did you get Empire Flippers off the ground? What'd you do? What are the first 10 things you did for the first year that got you traction at Empire Flippers?”

It's like, shit, man, I don't know if that's going to help you because of what we did in 2011 to market Empire Flippers and Squidoo pages. What are you asking for, dude? Because it's probably not going to help your business today.

And you have to be careful when giving advice, too. Because, okay, this helped us then, but it was a specific period of time in which the rubber met the road and it kind of worked out. I can't guarantee that that's necessarily going to work for you today or anyone today.

Jaryd Krause:

Yeah. I noticed what you did then as well, when you're looking for a surgeon? You tested different surgeons against each other as well. That's really, really fair.

I think people might have said, "Oh, Jaryd, yeah, of course I'm going to test. I'm going to find three different mentors and work out which one was the best one for me, and I'm going to use my gut and my intuition to use the best one.”

Yeah, great. But that's not the end, right? I think what you should do is, when you find the best one of three, use them, and always keep finding other mentors that may be able to be more beneficial for the stage you're at, based on what you're saying.

Justin Cooke:

Ask them who taught them, who they work with, what masterminds they're in, and what groups they're in too.

Jaryd Krause:

I've looked at mentors that are in the M&A space and all that sort of stuff. I've just said, “No way would I work with them,” based on their character, based on the way they speak, based on how I believe they treat people, based on how it makes me feel.

And I think that's super important for people to understand. Not just follow somebody but work out who you are in the process, so you don't only become a follower. And what I mean is that you only become a follower; you don't know who you are, and you only follow people. Work out who you are in the process, right?

Justin Cooke:

Well, in the M&A industry, but just in business in general, trust is so critically important. And my business partner and I, Joe and I, have been in business for a very long time now, and we've had our ups and downs this term in terms of partnership, and we've had times where we trust each other more or less.

But in the end, I know he's got my back, right? I know that he's both self-interested and we have aligned interests, right? And so we've kind of kept our business in a way where our own self-interests are always generally aligned. So we're working toward the same goal.

Jaryd Krause:

That's a really good tip for people who are in a partnership or even a relationship. What makes you happy in your relationship is actually going to make your partner happy because you're going to be a better person to be around. In terms of an intimate relationship but also in business.

What other things have you learned through your partnership with Joe that have been hugely beneficial?

Justin Cooke:

Contracts are important, but trust is not. In the end, you're not going to be able to contractualize everything, right? You're not going to cover every potential scenario that could ever happen. In the end, there's going to be some level of trust, and so you have to build the framework through partnership agreements.

We have unwritten rules. We have veto power at Empire Flippers. So, yeah, either one of us can revert to doing what we were planning on doing and revert to the status quo with veto power.

And so we very rarely use it, but there are times where Joe's like, “Dude, I really don't want to do this. If you continue pushing on this road on this change, I think I would veto it.” I'm like, “Okay, well, maybe I should stop spinning my wheels.” And that's a rare thing; you rarely throw that out. But if you're so adamantly against or

So that kind of brings us back to the status quo. Sometimes it pulls me or reins me back in from doing whatever kind of crazy harebrained scheme, and maybe it would have crushed it, right? But he just doesn't want to do it, so reins me in. And then I can reign him in on his end too. So it kind of keeps us in a little more steady state.

Jaryd Krause:

What some people may not have picked up on that you mentioned just now is that before you even get to a point where you'd have to veto something, it’s communication. It seems like you guys are constantly in communication.

I mean, it's probably less now because your partnership has been around for so many years—more than a decade now, right? So it's probably less because you know each other so well and know your values.

Justin Cooke:

In the early days, it was daily. In fact, when we started, we were living in a townhouse together, so it was all the time. Now it's once a week, maybe twice a week, so we still talk pretty regularly.

And we don't even do the quarterly updates to the team anymore. So this is just us kind of keeping it. We're talking about his investments and my cooking. He's losing some weight and putting some muscle on. We're joking about how hard it’s to do over 40, by the way, Jaryd.

Jaryd Krause:

I am not excited for that.

Justin Cooke:

But yeah, so we're talking about that, but we also keep each other updated on the business and interests and kind of what the market's like.

Jaryd Krause:

Yeah, cool. Well, I'm not traveling. I live here in Bali now, but I always have people come and go. And the people that come and go are either family or their friends. And those friends—they're entrepreneurs. Most of my family's entrepreneurs are as well.

So we end up always talking about our investments and our business. We just talk about what's important in our lives. And it's so important to have those people that are on a similar path for you to just bounce ideas off, outside of it being a transactional conversation, I guess.

And did you notice that when you first started in online entrepreneurship, you started breaking away? I don't know what you did before AdSense Flippers. But did you break away from a sort of community or a group of friends? Or not just break away, but slowly remove yourself.

I have. I've definitely done that in my life. And not remove myself, sometimes consciously, but mostly bring in fresh blood in terms of other relationships and people that are more aligned with where I'm at in my life. How important have you found that for you in your life?

Justin Cooke:

Yeah. So when Joe and I started Empire Flippers, right before that, we started TryBPO. It was our outsourcing company at the time. We had packed up and left the US.

So we're living in the US, working for an SEO company. We'd set up this outsourcing company to serve the company we worked for. And then we moved abroad. And the only person we knew there was employed by us in the Philippines.

So, I mean, we left home. We left everyone. And we went to build our business in the Philippines. You had friends, co-workers and family, obviously, back in the States.

And we hardly knew anyone, so it sucked. I mean, we had to make new friends and try to figure that out, but we got kind of lonely. We're out on a Philippine island trying to build this business, living in a townhome, just trying to hustle it up.

And so that's when we found a group called Dynamite Circle. So that's when we found those guys that were doing this kind of remote business building. They called it coconut cowboy stuff at the time, and that kind of resonated with us.

We're like, “Look, there's other people building businesses abroad and outsourcing and trying to build internet companies. That's kind of fun. Let's hang out in that community.” And so we started with them right when they were starting out, and then we all kind of came up together.

So their businesses—businesses they'd built, and sold. We all kind of came up together in this kind of expat entrepreneurial community, and that was super helpful in terms of we immediately had a growing friend base and kind of support base of other people doing similar stuff with similar interests.

So it's really weird, Jaryd; you probably know this, going back to Australia, seeing old friends or just being around the people you would have been around if you'd stayed, and just the disconnect.

It's really hard to relate to the same things. It's really hard to connect with the same things. Certain things that you probably go surfing with some old buddies and you guys are just like, “That's great. That's magic.”

But when you're talking about interests or whatever—I used to be into sports when I was in the US. I'd watch football, at least and stuff. I had a fancy football team. I came back to the US. I don't care about any of that. I don't pay attention, really.

Jaryd Krause:

Part of the reason I live in Bali is, number one, surfing. But also back in Australia, I found myself going back after trips and just not living the same lifestyle as my friends and family.

And I realize, wow, when I come to Bali, I feel actually inspired to do work. In certain parts of Bali, like Canggu, you've got a bunch of digital nomads or entrepreneurs that are sort of really hustling and trying to make it work and get their start.

Where I live in Uluwatu, you're just a bunch of ballers here that actually make money. And it's really good to be where I'm at in my face. I'm not saying that I'm absolutely balling, but it's really good for where I'm in my life now to be around those certain people.

Justin Cooke:

The levels of the game, Jaryd, are insane, right? So you want to go see, I don't know, the startup, nose to the grindstone kind of working out, go to Chiang Mai, Thailand, right? And you just have hustlers there, right?

They're just building their business and trying to get it going and make something out of nothing. And it's fun, right? There's real energy there from the younger entrepreneurs.

And then you have, “Well, they’re doing a little bit better; maybe they're kind of professional or whatever.” And they might be in Saigon or Bangkok, whatever.

And then you just keep going at different levels. And then you go to Monaco, and you're like, “So that's what the top guys are doing. They're just hanging out in their yachts.” Okay, it's insane. And you're like, “Oh my God.”

And where are you comfortable? That's another thing, too. What level of wealth? Not what you want. Because sure, you want Monaco and a million-dollar yacht.

But aside from that, it feels good. I don't know what it is, but you get a sense of where you wouldn't mind hanging out for a while. In what kind of bracket would you be comfortable being?

Maybe you're like, “I want to live in San Diego, and I want to live pretty well. Maybe that requires me to make, you know, $15,000, $18,000 a month. And at that level for me, that's super comfortable. I want a kind of steady Eddie paycheck and that's good for me.” But you just need to figure that out.

Jaryd Krause:

I guess a lot of people that start don't have the privilege of just relocating and being anywhere, especially if you've got family. But you can build that. You can build those.

I know that on the Gold Coast, I built that before I left. Gold Coast is the town where I lived in Australia. I built that where every second Friday, we'd have lunch with just friends, and we just talked business.

And then I ended up just slowly migrating and moving towards hanging a lot more and spending more time with those sorts of people. So it can be done in that certain location where you maybe grew up or whatever.

But I feel the moving part is that it actually makes these energetic shifts within you. Because you just see the world differently based on where you're at and being around that sort of community. It changes.

When you go to Monaco, you're not thinking about certain things that you may have thought about where you previously lived in business.

You're thinking about how this person even got that deal? Or how did this person do this? You don't think in terms of income expenses the same way you did in that certain location than you might have where you previously lived, right?

Justin Cooke:

These guys aren't thinking about making money. They're thinking about asset protection. They're like, “How do I diversify across different countries so that one country can't take my money?” They're on different levels, insanely different. So the levels to that, it's wild to see, right?

Jaryd Krause:

It is. It is. Justin, it's been so fun to chat. I didn't feel like an interviewer or anything. I felt like just hanging out with a friend. So I really appreciate it.

Justin Cooke:

That's what we're doing, man. Just hanging out. I want to see you in Bali, man. Are you going to be there for a while?

Jaryd Krause:

Yeah, yeah.

Justin Cooke:

If we come down, I don't know if we're going to be there, but if we do get there this year, I'd love to go.

Jaryd Krause:

Yeah. I'll be here all this year and next year. I haven't got a timeframe for how long I'm going to stay or move, but I'll be here for the next few years, I'd say, for sure.

Justin Cooke:

Cool, man. Awesome. Good hanging out, man.

Jaryd Krause:

Yeah, I'm looking forward to it. Thanks, Justin. I will speak to you soon.

Hey, YouTube watchers, if you thought that video was good, you should check out this video here on the 2 Best Types of Websites Beginners Should Buy. Or check out my playlist on How I Made My First $100k Buying Websites and how to do due diligence. Check it out. It's an awesome playlist. You'll enjoy it.

Want to have more financial and time freedom?

We help people buy established profit generating online businesses so the can replace their income and spend more time doing what they love with the people they love.

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 are around making a real tangible impact on people’s lives. 

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/

➥ Surfer SEO (SEO tool for content writing) – https://bit.ly/3X0jZiD

➥ Rank Math (WordPress SEO Plugin) – https://bit.ly/3Acyjf4

➥ 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/3wGa8r5

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.

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