[Case Study] $0 - $2,600 Per Month In 2 Months Acquiring Small Businesses with Michael

Why do you think more and more people are acquiring small businesses? That’s because they know starting a new business requires more time, effort, and money, and the success rate is relatively low. So, why go through all of these challenges when you can buy an existing and profitable online business?  Joining me in the episode is Michael who is a Buying Online Business graduate. He had the goal to replace his income as a property manager and build a portfolio of online businesses so he can have more time, freedom, and travel.  We have discussed things about his background of work and his decision to buy an online business. How much work did he do during the 2 months to get this great acquisition? What is the price of the acquisition, how much it’s making and its multiple? Michael also shared the things he liked about the business (which is us basically comparing good sites to buy versus bad sites not to buy). What did he learn during the process? And what are his goals of building out a portfolio of online businesses? If you want to make your way in acquiring small businesses, tune in to this episode because Michael also shared his advice on what you should look out for when deciding to make an income online! Episode Highlights   03:27 Why Michael decided to buy an online business? 11:24 Business ventures to avoid 13:28 What is the business that Michael bought? 20:55 Hardships in buying businesses 23:31 Lessons Michael learned during business due diligence 32:18 Getting help from others 34:08 Michael’s goals Key Takeaways   ➥ Jaryd recommends buying an online business instead of starting from scratch.That’s because  purchasing an existing online business, entrepreneurs can bypass the initial stages of building a brand and systems, developing a customer base, and establishing an online presence.    ➥ During the process of buying an online business, Michael learned the value of not giving up and having patience and perseverance. Acquiring a site can come with challenges, but by staying patient and persevering, he overcame the obstacles and closed the deal.    ➥ When buying a website, Michael emphasizes the importance of considering E.E.A.T. (Expertise, Experience, Authority, and Trust). Expertise refers to the knowledge and skills possessed by the website's owner or team. Experience involves evaluating the website's past performance and how it has navigated industry trends. Authority signifies the website's reputation and influence within its niche, while trust relates to its credibility and ability to build customer loyalty. Assessing these factors is crucial for determining the website's potential for success. By considering E.E.A.T., buyers can make informed decisions and ensure they acquire a website with a strong foundation for growth and sustainability.     About The Guest   Michael is a Buying Online Business graduate who had the goal to replace his income as a property manager and build a portfolio of online businesses so he can have more time freedom and travel.   Resource Links   ➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com ➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/ ➥ Sell your business to us here - https://www.buyingonlinebusinesses.co/sellyourbusiness ➥ Flippa (Website Broker) - https://bit.ly/3WYX0Ve ➥ Credite Suite (Finance Broker) - https://bit.ly/3YiEDLZ ➥ Cloud Ways (Website Hosting) - https://bit.ly/40tjyjG     *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.See omnystudio.com/listener for privacy information.