Buying an online business is not always easy. There are risks to consider and other factors you need to know when choosing what to buy. As always, we’re here to help you and give you answers to your most pressing questions. In this episode, we have Zach Zorn of Money Nomad, who has successfully bought, grew, and flipped two sites that earned him $25,000 in just four short months. He is here to guide us through the following discussion points:
- Lessons learned from being a rookie in the business
- What do you need to learn when doing due diligence and research?
- How do you minimize the risks when buying websites?
- The massive blunder website investors make when buying their first website
- The importance of keeping an open mind and seeing opportunities where problems lie
0:00 – Intro
1:39 – Introduction to Mr. Zach Zorn, owner of Money Nomad, and how he started with his business flipping websites.
3:40 – Zach talks about the websites he sold and how he bought Money Nomad to use as a platform to share about his endeavor.
4:57 – Why buy an existing site instead of building one?
8:56 – Zach utilizing Empire Flippers and working with the website seller for optimum results.
11:02 – Always be professional.
11:30 – What sort of obstacles did you face? What were you looking for when buying a website? What should you remember when you are looking for niche websites to buy?
15:56 – You can buy a site that is not in your interests and still make it work.
18:16 – Looking for ways to improve your income.
19:35 – Problems are opportunities in disguise.
23:36 – What question should you ask the seller?
27:09 – What are some of the things that you worried regarding due diligence? What are some of the mistakes that you think you may have made that first-time investors need to look out for?
31:28 – How to grow a site and talking about the ads on Google, Facebook, and YouTube?
36:26 – Knowing what you know now, what would you tell yourself to not make blunders or to supercharge your success?
41:00 – Closing remarks and how and where to contact Zach
Zach Zorn is a writer, blogger, and site owner. He spends most of his time running MoneyNomad.com, selling on Amazon, and working on other technology-related entrepreneurial endeavors. Zach has extensive experience in mobile app and website development. He spends his free time fishing, traveling, exploring, and meeting new people.