Hey guys,
Just wanted to share this resource which I think is pretty interesting. I have mentioned the subject before here.
So what I am talking about is acquisition entrepreneurship. I follow a girl called Codie Sanchez who has a website called Contrarian Thinking and Unconventional Acquisitions. Basically, she talks about buying "boring" and cashflowing businesses.
She recently posted a blog post on how to buy a cashflowing online business. And if you know the four skills every business owner should have that Fox talks about: sales, marketing, support, and systems.
Then I think you are in a great position to buy these online businesses, run them, scale them and make them more profitable. And perhaps outsource or optimize the business so much that you don’t have to be involved in the daily operations.
Here are the blog posts where Codie talks about buying these businesses:
As an example, she mentions a sewing machine business that makes a monthly profit of $642 and the owner sells it for 10k. She found it on Flippa. One way to buy this, according to her, is the reach an agreement with the current owner where you pay off the 10k with all the profit or some of the profit. Obviously, there will be owners that say no to this but I think if you search long enough you'll find some really interesting businesses.
Now, this is just an example, but for anyone who understands web design, sales, marketing, and online businesses, I think this can be a great opportunity to get some additional cashflow.
Anyway, just wanted to share the resource! Thought some of you might find it useful and interesting.
Have a nice day!
Just wanted to share this resource which I think is pretty interesting. I have mentioned the subject before here.
So what I am talking about is acquisition entrepreneurship. I follow a girl called Codie Sanchez who has a website called Contrarian Thinking and Unconventional Acquisitions. Basically, she talks about buying "boring" and cashflowing businesses.
She recently posted a blog post on how to buy a cashflowing online business. And if you know the four skills every business owner should have that Fox talks about: sales, marketing, support, and systems.
Then I think you are in a great position to buy these online businesses, run them, scale them and make them more profitable. And perhaps outsource or optimize the business so much that you don’t have to be involved in the daily operations.
Here are the blog posts where Codie talks about buying these businesses:
As an example, she mentions a sewing machine business that makes a monthly profit of $642 and the owner sells it for 10k. She found it on Flippa. One way to buy this, according to her, is the reach an agreement with the current owner where you pay off the 10k with all the profit or some of the profit. Obviously, there will be owners that say no to this but I think if you search long enough you'll find some really interesting businesses.
Now, this is just an example, but for anyone who understands web design, sales, marketing, and online businesses, I think this can be a great opportunity to get some additional cashflow.
Anyway, just wanted to share the resource! Thought some of you might find it useful and interesting.
Have a nice day!
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