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BOB Podcast EP 004: Mistakes We ALL Make When Buying Businesses

BOB-episode-4

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In this episode, Charley and I shared the absolute key to go away and talk about Mistakes We ALL Make When Buying Websites.

How can mistakes be destructive to us as investors? How important is cross referencing financials to ensure the solidity of the business? What GREAT questions you should prepare before speaking to the seller of the business? Why is it important not to sell ourselves into an investment which could set you back significantly? These questions will be answered in this episode, so sit back and listen before you start investing in websites.

Learn more or get in touch with Charley Valher

Learn more about Outsourcing Angel

Learn more about Agency Valley

Learn more about Ready Set Mom

Episode Highlights:

0:01 – Intro
0:50 – Introduction to Charley Valher
3:08 – What are one of the worst mistakes you’ve made when looking at buying a website?
4:08 – Dangerous biases to be aware of and what a good decision making must be
6:03 – The mistake of selling ourselves into the business, and getting blinded by the numbers and figures.
8:03 – Ending up with the Lambo style
13:35 – All risk is minimized by education: Get verification of the ownership of the domain
21:58 – Most valuable questions and speaking to the seller before buying the business
25:18 – Data verifying and cross-referencing
33:03 – Wrapping up the episode and How to contact Charley

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