Speaker 1 00:00:09 Are you ready to get serious about building content sites and building a profitable business online? Welcome to the niche website builders podcast. We bring you the latest field, tested tips, tricks and strategies for building a profitable online asset. We interview industry experts, share customer success stories and reveal our own experiences. Working on hundreds of sites to inspire and motivate you to make something happen. Let's do this
Speaker 2 00:00:41 Hi everyone. This week, I am speaking with Jerry Kraus. Jared is a business coach. He's a mentor and an online business professional. He's personally bought a ton of online businesses over the last couple of years, and he's helped hundreds of people through the process to today. We're going to cover why he prefers buying websites rather than starting them from scratch his buy in methodology. Some of his due diligence factors that he considers when he buys these, these businesses. And then finally how he structures, uh, how we structure these deals. Uh, we talked a little bit about, uh, financing, uh, also, which is interesting, um, interesting to me on a personal level. Um, so I'm sure lots of you will find it interesting too. So it's a great episode. I think you're going to love it. Let's get into it.
Speaker 1 00:01:27 This episode is brought to you by niche website builders, an agency dedicated to helping people, just like you build profitable content sites, niche website builders are the hands-off content site marketing agency. You always wished existed. It's run by content site marketers for content site marketers, and they help both investors and individuals alike build profitable online properties. They provide a fully outsourced approach to content creation link-building and done for you. Website builds the same approach they use on their own six-figure portfolios. For example, their content packages come with a proprietary keyword research process are written by in-house native English speakers formatted using templates proven to convert and uploaded to WordPress with affiliate links added so that all you need to do is hit the publish button. Check them [email protected]
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Speaker 0 00:02:36 Good. Adam, I'm super excited. Um, I've I know that you've got a juicy lit list of questions and, um, we're going to get into some juicy topics. So thanks for having me on as well.
Speaker 2 00:02:48 No, thanks for being on. And I know it's, uh, it's early morning there. You're on the, on the gold coast, right?
Speaker 0 00:02:56 I am. Yup. On the East coast of Australia. Sounds
Speaker 2 00:03:00 So nice. I've been to Peru. I came to Paris a couple of years back. Um, I was remember my, my friend, uh, when we finished university, he came to, to Australia to work in the mines. He's a geologist. Um, and uh, he would live in Paris during the week, uh, do it on the weekends and then they would fly into the mines on the weekends. And I came over for a holiday and then I came back and he came back to the UK two years later, um, literally filthy rich, like he bought a, bought a flat down, down the B bought an Audi TT and were like, Oh my God, how the heck is like, what's going on here? But they're paying sane money to work in the mine.
Speaker 3 00:03:38 Yeah. It's really good that he's done that. Like he's done well because a lot of people in the mines will take that money and they'll go on a trip to Bali and just blow it all and then come back and then start again and work in the mines. And now they ended up getting into this vicious cycle, earning money and then going way in blind jet skis and cars and, um, you know, not, they don't have the long term approach, um, or long-term thinking. And, uh, so yeah, he's done really well. And to answer your question. Yeah. Like when you go away and work in the mines, you do big hours and you also have like danger money and all these other, you know, living away from home allowances and all these different allowances that allow you to earn, you know, $3,000 take home after tax and all that sort of stuff. It's sometimes 4,000. It's crazy. It's, it's good. It's it's but if you, you got to, you got to roll up your sleeves to do it. Yeah.
Speaker 2 00:04:32 Yeah. And they pay for his accommodation and they pay for his food. Like when he was there, he literally had to spend nothing and he couldn't spend anything. I mean, you're in the middle of nowhere, so
Speaker 3 00:04:41 Yeah, that's right. Yeah. I was very close to doing it myself, like being a plumber. I was like, all right, well, I could just go here for a certain period of time and just get a bunch of cash. And then I realized, well, I do the app, I did the numbers on the alley. Right. And I thought, well, if I actually, you know, stay here and work the same amount of hours, I'm making the same money. Really. It's just that you're doing a lot more, this hourly rates, very similar to what I was earning, uh, on a, on a job site here on the gold coast, but just the excessive amount of work. Um, and then, you know, when it makes sense at the time and the double time and all that sort of stuff, that's what really makes it add up. But you got to choose like, do you want lifestyle? Or do you want like a lot of money because everybody's got a different, like a different goal in life. And even people in business have very different goals, like lifestyle or a lot of money, because I know that if I went down the route of like, I want to be a billionaire, then my, a lot of other things would suffer in my life. Like health relationships, family, everything. So, you know yeah. It's, you know, different courses or different courses, I guess. Yeah.
Speaker 2 00:05:51 Yeah. Well, you, you hinted upon it there, obviously your background is a plumber, but can you tell us a little bit more kind of what you did before you, you began your online journey?
Speaker 3 00:06:01 Yeah. I eat a lot of travel, so I did what your buddy did, but I went away and blew the money. I'm not buying fancy things and, and, you know, um, liabilities, but I spent my money on experiences and, uh, I wouldn't say blew the money cause it has been probably one of the best personal development tools for me is, is traveling. And so I went away and I'd save up a bunch of money through work. I'd go away for a six month trip and then come home and then do a 12 month trip or a year, a year and a half trip. And, uh, so I did a lot of traveling in between my job, but early on, like before I even went on, went traveling, I was, I just really disliked work. Uh, I, I was working big hours as well, but I was working, you know, an hour and a half away from home.
Speaker 3 00:06:49 So I would spend that time in the car to, and from work, trying to like, you know, just trying to get to work and from work and not getting paid to sit in the car as well. So I spent like 18 hours in the car commuting per week and be tired and just having micro sleeps on the way to work in front of the wheel. And, uh, I just, you know, I just disliked the work a lot and that really drove me to go, all right, I need to do something different, which drove me to the travel because that I look back in hindsight, well, the travel DDAs was, I was just running away from my job and the lost all I had because, because of work, I was drinking heavily. Um, and so yeah, I was, I was basically running away and then one of my trips, then I had the epiphany of like, okay, cool. I can, I need to do something differently.
Speaker 2 00:07:37 So, so on these trips, you were, were you working while you were traveling or were you, did you save a ton of money and then you went away and like, how are you funding these trips
Speaker 3 00:07:46 Through this period? Um, through like 2009 to 2015, 16, even before like 2012, 11 ish, the Aussie dollar Donald's really good. It was really strong. And so I'd save up Australian dollars and I'd go to Canada or in America or Asia and I'd have a lot of money. Um, and I'd just work as a plumber. And then on my last, my, one of my second, last big trips, I did a little bit of work. I went and work in Egypt as a dive master. Now I wasn't making much money. I was making like $25 a dive, uh, I think post Jude. And actually it was, but I, yeah, it's, it was, it was <inaudible>, it was, it was enough to stay in the position that I was in, in, in Egypt. Um, but most of it was from, um, working previously.
Speaker 2 00:08:43 Okay. And where's the best place you've been. You're obviously very well traveled. Where's your, where was your favorite trip?
Speaker 3 00:08:51 This is a good question. It depends on what you, it depends on what I'm like. There's different places. I like for different reasons. I love Mexico because of the food. I love the culture and I love surfing. Like that's a very high priority for me. Uh, and so Mexico and central and South America for surfing actually lived in Panama for a little bit and did some scopes of coaching and stuff. Also loved Japan for the culture and for snowboarding. And it's, it's, it's a hard one. It's, it's really, really hard to pick. I've still got a big bucket list there. I'll tell you that much.
Speaker 2 00:09:29 Yeah. Well, I mean, I'm jealous, just listening to these, these couple of places you mentioned here to be fair. I've never been to Mexico. I've never been to Panama. I've never been to Japan, so yeah, th these all sound great to be fair.
Speaker 3 00:09:40 Um, yeah, it was fun. It's really fun. Um, it's a different type of travel. I did it all on myself, like, uh, like a solo traveler. Um, so yeah, now being with a partner, I'm, I'm looking forward to a different, a different type of travel. Like what I really value highly in life is experiences. And you can have experiences with just random people. Like I had, like some of the experiences that I've had with people that I'll tell people a story and they're like, yeah, come on, pull the other one. Like they don't believe it. And it's, it's really hard to share that experience or that story unless you were there. And so when you have an experience as amazing to reminisce that yourself, but when you reminisce, uh, uh, an experience with somebody you love, so either a friend, a partner or a family member is that Slack, this that's, to me, that's super valuable. That's the source to live. Like, that's, that's one of the most valuable things you can have is, is it experiences with the people you love? So I'm Lou, I like, I've done some travel with my partner. I just look forward to more of that and, um, different types. Yeah.
Speaker 2 00:10:47 No, that sounds awesome. Building memories for the future, with someone you love. It sounds. Yeah, it's great. Yeah. Okay. So, so you were doing lots of traveling, you were kind of working in between traveling and kind of just making enough money to survive and do your trips. Um, how did you make your first dollar online? Like how did you go from that type of lifestyle to thinking, hold on, I can, I can make some money online here and not have to work. Um, how did, how did you come across that? Was it, was it the typical way people do or they, they literally Google, like how do I make money online? Or did, did you stumble into it another way?
Speaker 3 00:11:23 I literally, I was in, uh, like I said, um, on one of those trips, the epiphany came to me. I needed to do something differently. Right. And so I was living in Egypt and I was working as a dive master and just taking people to scuba diving, you know, almost every single day. And I was like, all right. I, I can't like, I can't go back to plumbing. I, you know, I've done this cycle of save up, go work, save up from work, go travel, and then come home with little money and go on. And they need to do the plumbing thing again. Like I can't, I can't go back to that last, all like, Oh, I can already see that I'm running away from my life that I created. So I need to create a better life. And so the, I was like, all right, I could go away and travel and get a job everywhere I go.
Speaker 3 00:12:13 I know that I can do that through being a surf coach or a scooting into being a dive master, or even if I became a snowboard instructor, which I thought about doing. And I was like, well, then I'm going to need to apply for a job, get a job, every single place that I go, and I'm going to be out of money for a certain period while so I'll travel and this is not going to pay very well, you know, thought, well, how can I keep traveling and make money? And that's what I did. I was like, well, surely I can do something online. And a lot of people look at, it's been talking about is like, yeah, we need to get online to like, make an income online because that's like, you know, that's where things are going. Like, that's the incident, that's what, you know, we can use this as a tool.
Speaker 3 00:12:54 And so I was like, all right, I, the travelers saying that, right. Other travelers and friends at home as well, who were travelers, you know, and our travelers. And so I was like, all right, I did, I, I got grabbed my, my Mac book and I was like, all right, how to travel the world and make money online. So it wasn't just like how to make money online. But I did use Google in a deed search, how to travel the world to make money online. And what popped up was travel blogs. Yeah. Yeah. And it was overwhelming. And I was like, all right, cool. And being in my nightmare, when I'm going to do something, I'm doing it. Like, it's, it's done it's happening. Uh, so I was like, all right, cool. I'm going to pick one thing and I'm doing it. I found it.
Speaker 3 00:13:36 I was like, all right, travel, blogging. I love traveling. I love talking about traveling. I can do this without having to like, come home and share my stories with my friends who actually don't want to hear about it. Cause the, the whole jealousy thing and stuff like that. Like, and plus when you go home and you have all these stories, people want to hear, hear about it, or like, want you to say some things just to be like, yeah, cool. I'm a good friend. And like, I've, you know, I'm happy I had a good trip, but like deep down, you don't want to hear about somebody. Who's amazing story when your like, eating to get away. So I couldn't really share my experiences of travel with my friends anyway, so I could do it on paper and blog about it. And so that was a real struggle.
Speaker 3 00:14:16 Like to answer your question, how did I make my first online was, took me a long time with, uh, travel blogging. And I realized travel, blogging, just wasn't going to get me to where I wanted to be income wise or replace my income as a plumber, because everybody with an iPhone, you know, everybody with an iPhone was going to become a travel blogger. Everybody that, you know, Instagram started blowing up and people would consume content on Instagram, more than the reader travel blog. Um, so I was doing travel photography, all that sort of stuff, but I made a couple of dollars through troubled blogging. And I thought, if travel blogging, isn't going to work because the competition is so high, then I need to go away and create like a, I need to sell products. Like I need to sell some products online. So I was like, all right, I'm going to become a drop shipper. So I started my own drop shipping company and met a couple of dollars through that, sold a few things. Uh, still struggled. Like I immediately, like it was, I knew nothing about digital marketing. So I started up a store and if you build it, they won't come. Like, it's not what people say is
Speaker 2 00:15:23 You, you need to have <inaudible>,
Speaker 3 00:15:27 You need to have an audience and you need to be able to market to that audience and connect with that audience and provide value to them through your products. And I don't even know anything about digital marketing paid ads or anything like that. So it was a great thing for me to start this and realize that I was a complete rookie. So I knew a lot about SEO and I started learning a little bit about digital marketing and that's what led me to, um, the buying businesses. Yeah.
Speaker 2 00:15:54 Awesome. Okay. No, that's a, that's a great background, a great introduction there. Um, interestingly, I think, um, people always try and start out sites that they are very passionate about. Obviously travel being one of your passions, but nine times out of 10, it's not necessarily the correct place for them to start. Um, and it sounds like you realize that pretty, pretty quickly, but some people pull us into this. They're just pure passion projects and then they don't get where they want to be, just because they've, they've picked the wrong topic to start with. So it's, it's good to hear that you've figured that out pretty quick. And then, and then change direction.
Speaker 3 00:16:31 Yeah. I've got a bone to pick with everybody that says, you know, the profit is, you know, the, the profit, you know, your passions and your profit or your profits and your, I don't know which way it goes around, but like, yeah, I look at things very differently now as, as I evolve and as my mindset and my philosophies and approach to investing and life changes that I look at the whole passion thing very, very differently. And I mean, you may have read one of my, um, emails or pieces of my content, but there's something about, you know, following your passion in work, that it can be good, but it can be very dangerous as well. And people don't understand the pros and cons to, you know, starting a business that you're passionate about. And the pros is that you get to do what you love, right.
Speaker 3 00:17:18 Uh, but the con and you can evolve it how you want, but you can do that with any business at any nation, any industry, because you can have passion within different things. Right. Like my partner is, uh, she's a kinesiologist and she knows she's passionate about like having a great relationship. Um, I'm, I'm very, you know, I've got some passion around having a great relationship, but I'm not as passionate that I'm going to do, you know, like read every single book about it and listen to every single podcast of every hour every day. Not that she's that, you know, to that extent, but like I can find passion in that and still, you know, thrive by having a great relationship. But I don't go to the extent that my partner does. And it's the same with plumbing as like I had some passion within just some of the tasks that I did with him, plumbing, but you know, most of it, I hate it.
Speaker 3 00:18:08 But imagine if I could go, all right, I'm going to just, if I owned a business or own that plumbing business, I only liked this part about plumbing and organizing things with the tradies. Right. And I was really good at that. What if I disrupt out all the other stuff that I hated, I disliked it and didn't want to do. And just focused on the parts of that did like in the business, because I'm passionate about that type of work, not just the type of industry, so passion, isn't just like, what niche should I be in? It's a, it's a, it encompasses a whole lot. And I mean, in your business, I'm sure that you don't do some of the things that you don't like doing, or you're not great at, for me, I can't a podcast or I wouldn't know how, and I, it doesn't interest me at all.
Speaker 3 00:18:52 I'm not passionate about that, but what I am passionate about is doing what I'm doing right now is speaking to you and podcasting all that sort of stuff. So I think how we view our passion needs to be understood a bit better, and we need to really be conscious of like what a passion is and what we can be passionate about and why we should be passionate about something and how it can actually serve us. And also how a passion can be negative. You know, how being passionate about one thing in business can be negative as well, because if you own a business, if I own a business in S you know, surfing, like surfing is huge for me, if I owned it like a business that was failing, and it was in the surf industry, I'm going to keep that business going. And I'm going to be pouring money into that business because like, I don't want it to fail because I love surfing. And maybe a part of my identity is attached to that, you know, and that's a dangerous thing as well. And I might lose it, lose a part of my silver might lose who I am or a part of my identity, and this can happen unconsciously and people don't understand or realize it, but it's, it can be a trap because we can just keep pouring money into something that's losing. And that's the danger with a passion and,
Speaker 2 00:20:07 Yeah.
Speaker 3 00:20:08 Sorry to get on my high pedestal there. Cause I just wanted to, um, yeah, I think we need to really be conscious of like what, you know, what, you know, here's a passion falling into passion to profits. Is that the right way?
Speaker 2 00:20:24 Well, you're passionate about, about that. So from a practical perspective, yeah. From a practical perspective, one thing that we typically tend to find we're working with with clients, um, who are passionate about certain, certain niches for example, is they tend to be perfectionists rather than, you know, the, the thing of get it done and get it out there and come back and Polish up later. Um, they want everything done perfect first time, because like you say, they feel it's part of their identity of who they are, that it needs to be perfect if it's coming from them, because this is their thing. Um, and what they typically end up doing is, is not getting very far with the project because, you know, they just take too long in essence. Yeah. And so yeah, a hundred percent agree with you there. So you, you did that and then you, you moved on to buy in a business.
Speaker 2 00:21:17 So you, you tried the, the travel blogging, you tried the drop shipping and then you moved on to buy in a business. Um, and I've got a quote here that I, from you that I absolutely love it's I realize if 90% of startups fail, why can't I just buy one that's past that 90% failure point. Um, and I've never really thought about that. Like, I've obviously I've bought and sold tons of sites in the past, but I've never actually thought of, I've never thought of it from that angle before. Um, I think it's a great angle to think about. Um, but I guess my question is, especially when it relates to online businesses is how do you know if, if, uh, you know, uh, a content website or an affiliate website is past that point of failure? Um, especially in today's current climate where you've got, you know, Google updates or affiliate commission changes, like businesses can fail overnight, almost online. Um, how do you kind of determine where that, or what, what a good business looks like essentially then?
Speaker 3 00:22:14 Yeah, that's a, that's an amazing question. Uh, so how I transfer that's actually that quote is what made me sort of, uh, well, the, I wouldn't say the quote, I came up with a quote, but the fact that I found out about the 90% of startups was what actually led me to like, alright, I need to buy a business here. Um, and I was actually plumbing at the time. And I had, I was still trying to get my travel blog going, still trying to get my drop shipping business going. And I found that, that fact, and that's when I came up with that quote. And then when I started looking for businesses, I was like, how do I like your question is how do I find out which one is past that 90% failure rate? And there's, there's multiple things. So the reason a lot of businesses fail is because they, you know, the owners don't know how to take it to the next level, right.
Speaker 3 00:23:04 Or they give up on it. Um, and also it's, you know, there's, there's so many reasons like competition and, and getting it off the ground, getting off the ground is exceedingly hot compared to what everybody out there who's, you know, teaching you or trying to sell you that an Amazon course to start an online business. It's super simple, cheap, and easy. It's just not, um, it takes some serious time, money, effort, and energy, and some serious thinking. And so to know, if a business has passed that 90% failure rate, we kind of look need to do at your dealings and look at a fair few things. What I do tell people is that if you're going to buy a business, that's under the $10,000 price range, it's probably not making much money and it's probably struggling already. And you are probably going to struggle to grow that business and monetize it because you don't have much income to play with.
Speaker 3 00:23:56 You'd need to keep investing to ensure that you eventually over some period of time. And it may be years to be able to start earning a decent return on your investment to find those businesses that are past that 90% failure rate is, I'd say you do want to buy something over the $10,000 price range. And I'm not saying you need to buy something for a million dollars as you can play in between that range, but you need to do your due diligence to see, you know, how long has that business been making money, right? What's the predictability of the growth of the business. What's the predictability of this, you know, the business being sustainable against the environment that it's in being online with, uh, um, not just, you know, Google, like you say, content sites, there's Google updates that happen w which wipe out sites.
Speaker 3 00:24:40 And I've seen many people be wiped out, and it's not just Google it's other environments as well. Like if you have an e-commerce business, if you are a hundred percent, your marketing is through Facebook or Instagram and they shut down your advertising account, which has happened to me. And then you lose all of your, uh, you know, source of revenue. So single source dependency is, uh, is one big thing that I like to look for when I'm doing due diligence, a single source dependency on traffic, single source dependency on clients. So if you've just got one client, like, you know, say a client, a client could be an affiliate program. Like, I feel like Amazon, right? That's single source dependency. Um, and it could be also, if you just got like a marketing agency and you have just one or two clients and you lose one, you lose 50% of your business. So single source dependency on anything is one really good thing to check when you're doing due diligence to see if it's going to sustain where it's at. And does that answer the question? I dunno if yeah,
Speaker 2 00:25:49 Yeah, no, I think that's good. Um, yeah. And I think, um, at least in, in our small space of buying and selling and kind of just pure affiliate sites, we are very guiltiest I'm, I'm especially guilty of this, of by insights that are dependent on one source, um, be that traffic traffic from Google typically, or be that, uh, revenue typically from an affiliate program. Um, yeah, I don't really look outside of that. And, and you're right. Updates come and they websites out or Amazon commission changes happen. I was literally in the process of buying a site when the last commission change happened, if I'd gone through that purchase, um, you know, I would have lost half of my capital overnight pretty much cause he was an Academy that dropped in half.
Speaker 3 00:26:34 Yeah, it's crazy. And it's not your fault either. It's because it's the norm and it's what everybody's doing. And we tend to just follow the crowd, right? If somebody's lining up for something that these are delicious ice cream, it may be, you know, it may look good, everybody's lining up for it. And then we go away and we, we stand in the line and we find it out and then we buy the ice from finance, not really what we thought it was, right. Like we're just following everybody. And it's the same with the space, the online spaces, we just follow everybody. And we don't do our own independent thinking. Um, or even some like, I, I love to go deep and I love to think differently compared to most people. And when you do that, you can find little things that can be risks involved with it.
Speaker 3 00:27:24 And, you know, my message is to, you know, you're, for everybody looking at buying their first business or buying a content site is that you, you really want to have somebody that understands what's involved with the content site to look at it before you purchase it, or to at least lend some sort of advice. Because, you know, even if you weren't to have just single source dependency on Amazon or, or Google traffic is there's other things that can be a risk as well, right? Like links and all these different things that is just like, Oh yeah, I'll just buy a site and it's got a PBN or it's got some dodgy back links, I'll just do a disavow and, you know, or, you know, content or all these things that people don't really get or don't really know about is, is a risk. And, um, yeah, that's, it's, it's, it's I think are the days of just buying order, starting an affiliate site and chucking some chucking, some articles up, and you would say this too is like, it's, it's, it's gone. And I'm glad it's gone because it's not doing a good service to the internet and to people that are using it. So yeah. Good on you for not buying that, that business though as well.
Speaker 2 00:28:31 Oh, well, honestly know the money was in escrow and I was really lucky that the buyer allow me to kind of pull out there, um, from, from the sites that I see kind of like the deal flow that I see lots of these sites do typically tend to have like single dependency, whether it's traffic or monetization, um, uh, are you a fan of, of still buying those types of sites, but then quickly de-risking by adding another traffic source or trying to add another program, um, or you specifically just only looking for sites that are already set up that way. So it's, it's less hands off for you.
Speaker 3 00:29:05 That's a great question. Look, I would prefer to buy a business that is, has less risk that's. My goal is to buy business that has less risk. A lot of people try to buy a business. And a lot of people that join my community, like look at the opportunity here. Like I don't care about the opportunity because there's opportunity everywhere. That's abundant, right. I look at the risk and you're not taking on opportunity because opportunities can change and come and go, right. What you are taking on is the business and acquiring some level of risk. And I would a business that has less risk to answer your question. Yes. Have I bought businesses that have single source dependency before? Yes, I have. Uh, that's an educated decision based on the risk and how quickly it would take me to reduce or minimize that risk where I bought businesses that have single source dependency on traffic and going all right, cool.
Speaker 3 00:30:03 I know that I can build out a, another, you know, traffic stream here. Uh, and I can do that in multiple ways, right. So either Pinterest or email list, uh, and I can actually, I'd like to, I prefer to own the traffic, uh, through an email list and get people from traffic from Google and from Pinterest onto my email list and not be, um, reliant on, on traffic from external sources. So yeah, I mean, I'll, we'll purchase a business that I can, so I'll, I'll, won't purchase a business that has a lot of risks that can't be removed or it's gonna take a long time to remove, uh, we'll purchase a business that has, I mean, all businesses have risks, but a business that has some level of risk, but I can see within a predictable timeframe how long it will take me to reduce or minimize that risk to a position that I feel comfortable in or holding and carrying that bit.
Speaker 2 00:31:03 That makes perfect sense. Yeah. That makes total sense. And almost come at this from a slightly different angle than, than you do, which is interesting. Um, in that I will sometimes actively look for risk. If I feel that I can get a good deal, if I then feel I can, de-risk it quickly enough. Um, and typically for me, de-risking is not about taking away the single source, a single source dependency, but it's about fixing issues. So if, uh, you know, I'm happy to buy a site that's been in decline for six months. If I feel that it's got certain technical issues or content issues or, you know, issues, which I feel I can fix fairly quickly and turn that site around, um, I just don't have the experience of, of buying a site and then add in email marketing or Pinterest. Um, I don't, I've never done that, but yeah, it's interesting how two different people can see the same deal and I'll see risks somewhere and you see it in a totally different place. I love that. I love this kind of stuff.
Speaker 3 00:32:02 It is great. I mean, you've got an, a level of experience and you've got a whole business that can do this, uh, that you can go. All right, cool. I, I know content and I know that this isn't up to scratch, and I know that if I recreate the content or update, refine it, whatever you want to call it. But if I do a content audit and, you know, make the content faster period, it's going to be superior than a lot of other, you know, websites in that space. And just by you doing that, you can grow. I mean, you can get a higher multiple for the business. And what I like to tell people is that still thinking about opportunity, right? Opportunities everywhere. It's abundant start thinking about how can you minimize risk because it's going to be, even if you do want to buy websites, grow them and flip them.
Speaker 3 00:32:51 In fact, the best way to grow them is to reduce or minimize risk. And if you were to just do one of those tasks, you will get a higher, multiple, like you said, if you go away and make the content, um, you know, less risky against Google, Google updates, that business is going to be more valuable and you can achieve a higher atone, your investment if, and that's actually a risk minimization strategy, but also a growth strategy and opportunity as well. So I think the thought about looking for opportunity independently in of itself is, is crazy. I think, look for risk that does provide, you know, minimizing or reducing risks that does provide value, increases the value of the business. And if you just to remove risk and flip businesses, that way you can win. And also it's a better strategy in my opinion, because when you reduce the risk, you have less risk to carry until the point that you do sell the business.
Speaker 2 00:33:49 Yes. I think that's a great way of looking at it. That's a, that's very well put charts very well, but, um, so, okay, so, so your, so you started buying these businesses, um, and I don't think you exited many, right? Your, so my methodology is to buy and flip and me and Mark have talked about this on, on, on previous podcasts. His methodology is to buy and hold, and I think you're firmly in that camp. Um, and from what, from what I can see, you, you kind of use the snowball method where you buy a site, you use the cash flow to buy another one, and then you use the cashflow to buy another one and so on and so forth. Um, I, I guess what are the, what, what are you, what do you think the benefits are of doing that versus kind of selling to realize big chunks of capital, um, or, or even just trying to raise some, you know, once you've done it once, and you've got a proven model trying to raise some capital from friends or family or, or from elsewhere to try and just go all in big, like what's the benefit of, of the snowball and snowball in methods
Speaker 3 00:34:50 Was a great question. And, um, yeah, I have, I have actually sold slots before as well. Uh, so it's, but I do, I do like to stay to the long-term approach, right? Like I like to my reason behind and what I believe is a good strategy and different horses for different courses. Some people love the flipping method. Some people don't what I believe is that why it's good to invest for the long-term is because there's like, there's a lot of cons that, uh, against buying and flipping. So when you buy and flip that, what you're doing is your buying something you, well, first of all, let's go through the whole process. You buy something, you do the research, you do, Dylan's takes you a fair bit of time to find that business, right? And then you purchased that business and then you need to learn that niche.
Speaker 3 00:35:43 You need to learn that business model, if it's different, uh, and then you need to reduce risk, um, and grow the business. And then you need to go away and list the business of Sal Fanta seller, go through the whole process of speaking to all these people that want to buy your business, find the right amount of money and the right person that's to carry the business, and then you sell it. And then you go, you start that whole process again, back to the drawing board. All right. I need to find another business, right? When you exit the business, you also pay a commission, right? You pay a commission and then you go, why and you follow this whole process. Again, find another business, do the due diligence. And you might do judo due diligence on like 40 sites before you buy the right one, right?
Speaker 3 00:36:26 One, you can always earn more money, the economy and more time. And the time and the money together compounded time is you're spending a lot of time doing due diligence. You're spending a lot of time learning a new business model. You're spending a lot of time optimizing a business, um, and you're spending a lot of time selling. And then you're spending a load of money on the exit phase, the second and third order consequences of that. And the compounding effect of that over 10 years can be quite drastic. Over 20 years, 30 years can be quite drastic. And this is the same, even if you are thinking about day trading and Forex and crypto and whatever, you're into all of these others, different strategies of India that adds up. And I see that in people that buy one stock and they hold it for 10, 20 years are going to, you know, usually have the same level of performance, the same level of ROI on average, than somebody that spends 12 hours a day, day trading for that 10 to 20 year period, the person that doesn't spend their time ever energy looking for trades and doing all this sort of stuff.
Speaker 3 00:37:39 In my opinion, wins because they have a far less stressful life, far easier, and they make the same amount of money. So for me, when I buy a one business is I can learn that one business, I can hold onto it. I don't need to keep looking for more businesses and that I can use that money for cashflow to pour into others, the less risky investments like property, and then can use that to purchase more businesses as well. And one, one business is like, I'm not spending enough time on that business, or, uh, it's not a priority for me then. All right, let's, let's give this to somebody that's going to do more justice for that business. So that's my reasoning and my philosophy around, uh, the longer term investments. It's just for my brain. I don't want that much. Like I'm optimizing my life life and not more money. Like I said before, I don't need to be a billionaire. I'm optimizing my life to be far less stressful, far easier. And that's what I, if you do want to work hard, then you can do it the other way.
Speaker 2 00:38:40 Yeah, no, that makes total sense. And I often look at Mark and, you know, I'm, I'm running around trying to buy a site and then do it up and salad and all that kind of stuff. And Mark's just stare chili and he's got his portfolio of sites and, you know, it's reliable, it's growing month on month and he's not really, really touch much of it. I mean, he, you know, we've got a team that we can put to work on site and stuff, but yeah, I actually didn't, I actually need this to go down two, to go in and sit down and actually figure out how much time in terms of hours I'm spending in doing this kind of stuff. Um, because it's, when you do something that you love, it doesn't feel like a job, but you're right. I'm literally spending hours doing this kind of stuff. Uh, I don't actually know how long, so I've never thought of it like that. Well,
Speaker 3 00:39:24 I mean, when you do something you love, it doesn't feel as good job if you don't do it that often, right. If you don't spend that much time doing it, but I can guarantee you if you're going to go for me and I've done this before, if I'm going to serve 12 hours a day for work, it becomes a job. And I, you know, it's not as fun as what it was. I mean, imagine if I just surf two to three times a day, two to three hours a day, every day, I'm going to have far more fun doing it, and I'm going to have far better performance, right? I'm going to S um, and I'm going to have far better results if my I'm trying to optimize to become a pro surfer because I'm not doing it so damn much. And I think people forget about, um, this grateful here.
Speaker 3 00:40:14 Uh, the one thing by Gary Keller is that if you've got too many focuses all at once, like how can you give the justice to a business that really needs it, that, um, that you're trying to turn around. And I mean, you can just buy, you know, you can just buy one business, spend the time on it, flip that and do that. And then wait till that sold to you, buy another one, which is odd. I'd say that's probably the best thing to do rather than having multiple sites that you're trying to do at once, unless you've got, uh, uh, leverage and value at a valuable team. But, um, yeah, I mean, there's no right or wrong way. You know, some like, I, my brother loves being active and loves doing a lot of things. I'm just not like that either.
Speaker 2 00:41:03 No. Yeah. I think that's a, that's, that's great insight. Um, so I guess between, between the sites that you've bought, and then obviously the, you know, your, the, the sites that you help your students with and the community with, you've probably done due diligence on hundreds and maybe even thousands of sites. Um, like a lot of our audience are primarily affiliate or content based sites. Um, they're interested in those kinds of sites. Could you give us some, some top level kind of almost sniff tests, due diligence process, like one of the, what are the quick red flags that would turn you away from buying an affiliate site or a content site?
Speaker 3 00:41:40 Yeah, for sure. I'm super lucky that I get to look at that many businesses, uh, is helped me become a far better business person. So some quick sniff tests on affiliate sites and content sites, red flags, single source dependency, um, yeah, you want to do a backlink audit right in your due diligence to see what spammy or toxic links are asked, see what the ratio is of, of good links versus non good links. Uh, and also identify if there's a, a current trend in, in links, and also ensure that you ask if there is a PBN and when you do, or if you are going to buy a site with a PBN, look at the value of those links and not to say that's always a risk. It is frowned upon by Google. Uh, but if you can get to a point where you can build up or do link building yourself, if you are into link building this people, some people that aren't into link building, but if you do build up links that can replace you having to pay an ongoing payment for those PBMs, then you can start to like, you know, slowly remove them off.
Speaker 3 00:42:49 That's one good thing that I'd be looking for. And, and it can be a red flag if you've got some pretty non-relevant PBNs that are still being paid for a content audit. Uh, like we said before, you know, sometimes people will look at everything on a content site, like, Oh yeah, cool. It's got an email list. Or, you know, it's got traffic from Pinterest and Google. Uh, and then they go and purchase it and they realize like, Oh, wow, like a lot of this content is like outdated or it's, it's not great. And it's going to cost me a lot of money to just stay relevant. Like definitely do a content audit and see what the top pages are. See what they're the non valuable pages are that are not bringing in the traffic and see if it's worth removing them. Don't remember them all at once.
Speaker 3 00:43:37 Cause you can really have a massive shock if, um, he loses a lot of traffic because of it. So just slowly test this stuff. Um, yeah. So, and then I'd like to, as like, so links, content, I feel it single source dependency on affiliate as well. Uh, so sticking with the, I mean, I'm all over the shop with this explanation, but sticking with the content orders is you kind of want to, you know, see if you're really into affiliates. Like you can do CRO right. You can look at the conversion rate optimization of like, is it just using Amazon and depends on how far you want to go down, but the real red flags, a single source dependency, content audit, and links. And they're the, they're the main, the main ones that you want to be checking, um, including PBNs.
Speaker 2 00:44:28 Yeah, yeah, no, a hundred percent agree with that. Um, and I, and again, going back to the kind of risk factors interest in the eye, when I buy sites, I'm looking for those two things that you mentioned there as risks, I'm looking for poor content, and I'm also looking for kind of poor design, essentially. Uh, like we've got a, uh, our own proven template that we know converts and, you know, um, I could probably break up the stats for you right now, but compared to some of the sites that I've bought, just changing over to our, our template, uh, as, as almost double revenue in some instances on those pages. Um, amazing. So yeah, it's, it's really funny that red flags for, for one person is almost like an opportunity for the other, but, but I agree for, for most people who don't have either a team or kind of the previous knowledge or experience, those are a hundred percent red flags.
Speaker 3 00:45:20 Yeah. I do the same. Uh, I bought a site in November a content site and it was just like this weed theme. It was getting decent traffic and, and decent, um, revenue and just changing it over. Like we just changed it over like a couple of weeks ago and it's just like, okay, wow. Like we didn't realize, like we didn't realize it would give us that much better performance. Um, so yeah, user experience is a big occupy. We could go on and on about user experience, but we've got a timeframe here to stick to that. That's a, that's a huge thing with content sites. And I think that's the main focus people should be thinking about when, when purchasing and that's, that could be another risk as well. Like how much does it cost to change, you know, the, the site design. Yeah,
Speaker 2 00:46:06 Yeah, yeah, definitely. Okay. So you've done your due diligence and now I think you're in a prime position to give us some tips on how you negotiate with a buyer as well. Like how do you get the best possible deal from someone? Um, yeah, I've, I've seen and tried lots of different strategies, but I'm keen to hear, hear what your thoughts, thoughts are on this. Yeah.
Speaker 3 00:46:28 Yeah. I don't think when you're negotiating, I don't think you should just be very tactical about it. I think the best way to get a, get a, uh, business for what it's actually worth is to be better at due diligence and to become an attractive buyer. And the only way that you can become an attractive buyer and be better at your deals, just due to your doodle, do due diligence on a lot of businesses and look at a lot of businesses. Now, when you're buying a content site is look at multiple content sites. So the similar to the type of content type content website that you want to buy it, and you'll start to know the market. So when you are an attractive buyer and you know how to do due diligence, you've done on many of those businesses, then you start to know the market and then you start to kind of become an authority around those businesses because you keep your eye on them and you know what they're worth when I buy a business, I'm not trying to, um, penny peak because somebody has, yeah, a lot of effort and energy.
Speaker 3 00:47:42 This is a person behind this business. Um, it's not like I'm trying to buy this trade at the lowest possible price and, you know, come out at the right time and all this sort of stuff. Like there is an aspect to investing in the right time and the right moment and the right business and all that sort of stuff. But like, I'm not trying to penny peak because if I can see that a business is valuable, it's going to be worth investing in. And so what I do is I work out what the true value of the business is, and I offer a fair price for it and I just offer one brand. And then, um, you know, I might go like, I won't super low ball. I might be like, that's a solid, fair price. I will see if I can get a little bit less.
Speaker 3 00:48:22 Right. And I'm not talking about a lot less, I'm talking about, you know, half a percentage or like a 1% or less, you know? Uh, so I'm being very, very fair with one offer. And I just offer one, I just make one offer. And when, uh, and this has happened to me multiple times where people, uh, that assailing sites is like, I'll put an offer forward and they're like, Oh, um, you know, what about, you know, they'll count OFA. I might, I make, make sure I mentioned, when I make an offer, I stick to that price. I say, look, I'm going to, if you want, I'm only going to make one offer. I'm not moving. Like, if you like it, we do it. If you don't sell it to somebody else. So other people have gone and said, you know, it look like let's, you know, can you do a little bit more, I've got another seller that might do a little bit more.
Speaker 3 00:49:08 My answer is like, cool, go with the other, sell. If you're gonna make more money, go get more money. Uh, but I know what the business is worth, uh, because you know, I don't need to explain to them, but I just know what the business is worth. And the last piece is I bought, I bought it for the price that I, I gave because I knew what the business is worth. And they, you know, something happens psychologically. And when a seller goes, all right, cool. I can go away. And you know, when you go now, go away, sell it to somebody else. They're like, okay, cool. This person, what happens is this that seller who's selling the business goes, are this guy actually knows what the business is worth and is not prepared to pay more for it. What happens is that builds up some level of trust and authority in that person who made that offer with the seller and the seller goes, wow, that person knows what they're talking about.
Speaker 3 00:49:58 And when they come to sell a business, if you're going to sell a business, you actually care about who would you, who would you rather sell to? Somebody is going to give you a super high price or somebody who's like that person knows their stuff. And they're probably, they're probably going to do good justice. They're probably going to do a good thing with this business. I mean, some people are going to optimize and try to get the high price, but there's people that do really love their business and they want to see it go well. So that's my, that's my, that's my explanation of making an offer. It's not, um, low ball and meet in the middle and all that sort of stuff. It's very simple and boring.
Speaker 2 00:50:34 No, I like it. And I definitely find people are more, um, more open to dealing with you and even taking a lower price. Sometimes if you, you know, especially if it's, it's a project they've started from scratch. If you explain to them how, you know, what your plans are for potentially grow in the business. Um, and then also just for peace of mind, like if you tell them that you've done this, you know, a fair few times before and you make the whole thing smooth and seamless and pain-free for them, and you can handle the migration and you're happy to use escrow and all those kinds of things, which like you say, just build trust. Um, sometimes you can, you can get it for you can, you can beat someone with a better offer just because you've got all those other good things going for you.
Speaker 3 00:51:17 Yeah. It comes as the whole pack. Like you really needed to have the whole package of being an attractive buyer to be at a, um, executed, beautifully. Like, like you said, making the whole process of like onboarding the business, super simple and all that sort of stuff. Yeah. That's, that's huge. And you know, how you set that up is all the preparation that you've done prior, which is like in due diligence, how you conduct yourself through do your due diligence. What it does is it tells a story. And so when I did you deal with on this business, it wasn't a business that was listed on a broker. Um, it came to me through somebody and off-market, and I said to the person, I need three things. I only need three things in due diligence. Right. And that the answers that you can give me straightaway, right.
Speaker 3 00:52:06 And one was access, I think two was access. And one was, uh, an answer to a question. And then I went away and I did you deal really quickly? And then I came back with an alpha and I told them, this is my single offer. And the person is going to be like, or I didn't have a, I didn't like go away and have to like, answer like 7,000 different questions in 7,000 different emails and always sort of stop. It really paints a picture of like, this person, is it attractive buyer? And for everybody listening is, uh, there's a, there's a lot you need to do to get to that. Right. Is it a lot you need to do to learn through due diligence to get to that point? It's all the preparation that comes with it, which is going to help you get the deal for a fit bras. Yeah,
Speaker 2 00:52:51 Yeah. For sure. Okay. Um, one thing that should, which you you've talked about, and I think it's interesting just because I've never done this before. Um, but it sounds like you're, you're quite fond of this is his deal structuring, um, using things like seller financing to, to help, you know, allow you to put less capital into the deal, but still pull the deal off. Um, could you say, just go into a little bit of detail about how that works and how those deals are typically structured?
Speaker 3 00:53:19 Yeah. So it depends on the size of the business. It's, it's all dependent on the business and the seller as well. Um, and also us as the purchaser, um, putting the least amount of capital in the, the best way to do it is if you are buying a business that is, you know, 200, 250 K plus is, is going, if you're in America, going with an SBA loan, you still need to put capital in. Um, and it's a decent amount of capital, but you can use more leverage doing it this way. Um, people have been known to use, uh, a HELOC loan, um, which has, or lock loan where you can take equity out and you can have a home equity line of credit is what a HELOC loan is, um, where you're using finance as well. Um, and you use a potty or capital for the deposit and all that sort of stuff.
Speaker 3 00:54:14 Um, that's using finance and I mean, there's other ways that you can do it, like getting multiple credit cards and, you know, making it all messy and, um, having the risk of having to pay high returns on, on your repayments and stuff like that. Um, then you've got, if you just do, um, an earn out, you can do it and own it. That's another type of structure that you can do where you will pay a percentage for down payment for the business, and you'll pay the rest of the business out over a certain period of time. Now it depends on the seller and the business, but you can do this over a three month period to like 12 months. Uh, I don't know too many people that do it longer than that, unless you've got some serious bargaining power, a lot, you know, in this space, businesses sell very, very quickly.
Speaker 3 00:55:01 So most people are going for cash. Um, and I think we'll probably get to this soon, but so that's a, that's an earn-out I would say, float an earn out first. And if they say no, then, um, do a seller financing where it's the same as an earn-out that you pay a percentage of interest on the repayments that you make. Um, yeah. And like, so finance and earn outs, and then you can also do like Ceylan notes or, um, you know, holds and whatnot. People have different names, 7,000 different names of these different types of, um, the, the business owner, holding a certain, a certain amount of money in the business until, um, until it's complete. But yeah, basically you can have a silver carry or a CILA note where you will pay a certain amount for the business, but the business owner will, the seller will hold a certain amount of money in the business, um, until, you know, the business hits a certain performance level or whatnot. Um, and you can do it that way too. Does that, does that cover most of them or do you have any other that you're like, Oh, let's what about this one?
Speaker 2 00:56:10 No, that covers most of them. Um, and I'm, I'm assuming most of these, well, not most of them, all of these are kind of tied up with contracts, right? Typically it's not, um, this isn't just a, Oh, by the way, I'll give you 80% now. And then, you know, you've got to trust me to give you the, the other 20% or the next three months. It's all, it's all above board with contracts and
Speaker 3 00:56:31 Yeah, so it used to be called a sell contract. Um, a lot of people call it a APA, which is an asset purchasing agreement. Um, you write like you do want some contract there that is going to say, I'm going to pay you this. And this is what I get for it. And this is the repayments, or this is how it will be structured in the certain timeframe as well. And, um, it's going to include the assets you get as well, uh, digital and physical if you're buying a commerce business, but most of you guys are going to be going and buying content sites. So, um, yeah, IPA sums up some sort of the contract is, yeah, you're wrong. You're not just going to be like, Hey, I'll just, I'll give you like, you know, 80 grand for this business and then just transfer it over to me.
Speaker 2 00:57:22 Cool. Okay. Um, you, you touched upon it just a second ago, but, um, uh, that I want to cover off kind of like current state of the market. And we've kind of been through the whole system, right. From, you know, finding deals, due diligence, buying them like this is not, this last bit is, is the market is crazy right now. It's so hot. Like I literally sold a site a couple of weeks back for, for 55 X, um, empire flippers of, of posting up sites, you know, 40 to 50 plus X. Um, what, what, and it's probably great for you because you've probably bought these businesses a couple of years back at a lower multiple, but what's going on with the market? Like, why is this happening? Is this a good thing for us? Is this a bad thing? It's a sign, the market's maturing like what's happening here.
Speaker 3 00:58:10 It depends. I think it's good. And there's some good internet, some bad in it. Um, the bad is that like, it's harder for people to get started, um, because the prices and the multiples are going higher. So it's harder for people to get started and buy a good business unless you have some level of cash. But then on the opposite side is like, because it's, you know, getting a lot bigger, um, and we're getting higher multiples. The, you know, the bigger institutional like institutional money's coming in, which is also going to force, um, banks and lenders to really see that this is a valuable, uh, asset class to pour funds into and provide financing for. So there's the pros and the cons of like, yeah, you know, it's going to be hard for a beginner to start, but then also it could be, could be easier because you've got, um, financial or lenders, um, being able to allow financing for buying businesses as well.
Speaker 3 00:59:09 So I think it's a good thing and a bad thing overall. I think it's really, uh, mostly I'm mostly bullish and positive around it because like we're getting more exposure to our market. We're getting more exposure to our industry. More institutional money is coming in, which more lenders are going to come in. It's pushing the process of the businesses up, uh, and which means this is going to be like more opportunity to come. And I think it will start to weed out the people that will come into our industry that are Cowboys. And, uh, and it's waiting out those Cowboys because it's not gonna allow much room for it where people will come in. Cause I mean, what happens is when you see, uh, an investment class where you can make a 30% return on your investment and it used to be more people will just be like, all right, I'm just going to come in and do some, you know, buy some businesses, come in, churn and burn.
Speaker 3 01:00:04 And I end up burning bridges and they'll go away and like, Oh, I can't make that much money here anymore. They'll try find, you know, another quick Chimp, um, quick and easy way to make money and you get a higher return. Yeah. I think it's just going to make this, this in this industry a lot more stable. So I think it is a good thing I really do. And, uh, the, the cons of that is we will be probably earning, uh, a little bit less return on investments in, you know, five years, 10 years to come. But, uh, I believe that, you know, the, the businesses should be a bit more stable and, you know, a better, better quality of business being sold. So, you know, how do you, how do you weigh it up, um, in to answer your question around, is it going to continue to grow?
Speaker 3 01:00:53 It will, uh, are the multiple is going to continue to go up? I believe so. Uh, there's just more and more people finding out about like, Oh, hang on a second. You don't need to start an online business to make money. Like, Oh, you can actually buy these ones. Oh, actually there's a broker here that shows you like how much it's making. This is like, I don't know, like how I discovered this was like, just these massive light bulb moments of like, Whoa, like this is ridiculously good. Like, uh, it happens to a lot of people. I remember doing phone calls with people in the early days when I was telling people like, you can buy it, you can buy a business in there. And I was sending them to a broker and the like, Oh my God, this is crazy. Crazy good. So, um, I think it's just going to continue to grow and, and it's, it's a fun time for us. I really, I'm really excited for it.
Speaker 2 01:01:44 Yeah. Yeah. I agree. A hundred percent. I think it's going to keep growing. Um, I also agree with your point where you, where it's going to kind of weed out the bad businesses. Um, and I think what's going to be left is it's gonna be massive opportunity as you know, private equity comes in and they start buying up portfolios of, you know, sites within certain niches to create bigger brands and things like this. There's no real talent where that could lead for a site owner. You know, you could buy a business today and you could be, could be acquired by a, you know, a group of companies tomorrow for, uh, you know, a crazy, a crazy multiple cause they pay way more. Um, and yeah, I think the opportunity is still huge people. People still ask, you know, and I am I a little bit too late to the party here. Um, and I don't think they are, uh, I think it's just starting to be fair.
Speaker 3 01:02:36 Yeah. Yeah. There's, I mean, we've got a lot of growth in technology as well, still like, uh, it's, there's some things that I, that are on the horizon that I, I can't even comprehend yet, like, uh, like blockchain technology. Um, and I'm not talking about crypto here or anything like that. I'm talking about like how that blockchain technology is going to help shape how we run our online businesses, uh, stuff that I haven't just in like the early days of thought processes around and, and, and how we could seize that sort of opportunity in terms of like hacking it de-risks our businesses and stuff like that. But, um, yeah, it's, it's all gonna come into play probably pretty quick. And, um, we're all in, we're all in a good state. If you're listening to this podcast, you're in a good spot because you, you're going to be able to, um, see how this space evolves and grows and you're going to be able to, um, see some opportunity from it as well.
Speaker 2 01:03:37 Yeah, yeah, for sure. All right. So I just, I just kind of want to finish up now because we're coming up on an hour here, but you're obviously an expert in this. You've done this, you bought and sold a hundred dollars, sorry, not bought and sold. You bought in hundreds of businesses, you know, between your own site and, you know, helping, um, helping other people buy sites. And you, you, you run this as a service. You run this as a community, an education center for people on your website, which is buying online businesses.com. Um, do you want to give us like an overview of, of that program? What it's involved? Like who is it grateful? Is it beginners? Is it people who already have sites? Um, yeah. Just tell us about the program.
Speaker 3 01:04:16 Yeah, man. Thanks. Um, it's a lot, it's, it's really fun and it's evolved over the years and it's at a place now that it's just like, we're just pumping out people that are like buying businesses and, and growing them. And it's, it's really, really fun. Um, it is for beginners people that are like don't know anything. Like I created my course around this to help people get off the job site, like to help tradies get out of the construction site. People that knew nothing about like, um, the incident other than using it for social media and email and Google search basically. And so, uh, it is created for beginners and then it gets, you know, as you start to learn the, the, the early parts of the course, it starts to get into some more heavy lifting of like due diligence and like the technical side of like SEO and like what we talked about, PBNs and all this, all this stuff that people may not know, these accurate act acronyms and stuff like that.
Speaker 3 01:05:11 Um, so what it encompasses is basically a it's a monthly membership, or you can pay it where you can join and you get access to like all of my trainings, all of my courses buying online business course, growing on business of course. Uh, and yeah, like the community people that, you know, we've got people in there doing like a million dollars per month in their businesses and stuff like that, um, down to like, you know, a couple of a couple of thousand dollars a month. So we've got some, um, some serious experts in the community. And, uh, the great thing is that, you know, networking with those people is very, very powerful. Uh, and then, you know, you can ask me questions whenever you want. Uh, and also, like you said, I look a lot of businesses. So before somebody buys a business, I get them to do due diligence.
Speaker 3 01:05:54 And I actually review it myself and make sure that they understand the risks and point out the risks if they can't see themselves. And then we weigh up, is this the right thing or not? And if it's not, we go back to the drawing board. And so we do find a good one and they just keep, they just keep sending me their doodle and stuff for review until I build my business. So I worked with people on tool, they buy a business and then once I've done that, we, I help them grow them. So, um, yeah, it's a, it's a fun time. It's, it's really cool. It's really cool to see people's grows. And just like the, the level of fulfillment I get out of it is crazy. Like seeing people from when they first started to where they're at now. It's, it's, it's, it's fun.
Speaker 2 01:06:33 Yeah. That's huge. And I, and I can tell, I mean, you're so passionate about this, uh, you know, you'd be a great teacher for this kind of stuff. So not only do they get access to you as a, as a great like teacher and educator in this space, I think you touched upon the, um, that's upon the fact that they get access to this network. And especially if there's people in there doing, you know, insane numbers a month, that in itself is invaluable. I mean, I'm based here in Wales, in the UK. And like, there's not really a network around here, like locally of people that I can communicate with or reach out to. Um, and I think a lot of people are in that position. Um, like a lot of our clients are, they don't really have, uh, a community or a space where they can speak to other people and learn together. Um, so this sounds great for that.
Speaker 3 01:07:19 Yeah. It's cool. Like, like they say, your network is your net worth, right. And also, you know, who you spend them, um, the five people that you spend the most time with, you know, they helped shape who you are like, so like being in there and like, you're right. I don't have, like here, I I've got my community, people that surf and nobody that owns an online business. Uh, so like all of my network and connections are online and it's built through not just this community, but through the podcast. And, um, yeah, it's, it's really cool. Like, there's so many things that I forget to mention, like, people, a lot of people are on the podcast come in and they do trainings in the community as well. Like, and, you know, suggestions from people that are in the community like, Hey, can you get this person on the podcast?
Speaker 3 01:08:03 Where can we do a training around this? You know, somebody is like, Oh, I want to learn keyword research. And we've got three different keyword research lessons from three different experts. Like it's, it's, it's just, it's big. Like, like it's, I love it so much. Cause it is bigger than me. Like it's, it's, it's, um, it's, it's a, it's a, it's a movement here and it's, it's fun. And they, they had guarding it, not me like, um, I'm a part of it, like, um, I'm just grateful to be there and, um, you know, ask them what they want and I give it to them. It's like, um, they, my bosses really it's so fun. Yeah.
Speaker 2 01:08:44 Awesome. No, it sounds great. Um, so if, if people wanted to kind of reach out to you and chat to some, always the best place for them to go to your website, we'll put the URL in the show notes, or is there any, is there a better way to contact you?
Speaker 3 01:08:57 Yeah. Go to my site for that, the contact form, or just Jared J a R Y [email protected]
. You can email me. I answer every single one of my emails.
Speaker 2 01:09:07 Awesome. Jared, you've been a great guest. I've learned, I learned a ton and you've given me a different perspective on, uh, on a couple of different things. So, um, Ray really appreciate you coming on.
Speaker 3 01:09:17 Thanks so much for having me on. I really appreciate it was a great chat, Adam. I love talking about this as you can tell. So thank you.
Speaker 2 01:09:24 Awesome. Thanks mate.
Speaker 4 01:09:27 Thanks again for tuning in and I hope you enjoyed the show. If you're listening to the podcast version of this episode, please subscribe on iTunes or wherever you listen to your podcasts, please rate and review. As this will allow us to grow our audience and create more shows like this one. If you're watching on YouTube, please subscribe to the channel and click on the bell to be the first, to know about any new episodes that we release until the next episode. Goodbye.