Losing 6 Figures From Buying The Wrong Business

Losing your hard-earned money from a wrong investment is truly heartbreaking. It’s not just a lost opportunity but also wasted resources in terms of time and energy. And we want to save you from it! I had a rare opportunity to speak with Cody who lost 6 figures from buying the wrong business. He started young in the aviation world and worked his way up the career path until eventually becoming a 737 Captain for Southwest Airlines. After a four-year stretch doing humanitarian work in East Africa with his wife and four kids, Cody transitioned to leading several entrepreneurial pursuits and now works full time as a stock and real estate investor. We have talked about his approach to buying an ecommerce business, how he did his due diligence and what he learnt and what he would do again. We also discussed why he would never go all in again.  Jaryd will also share his advice to those looking at buying their first business, insights on what you should be checking during due diligence for an ecommerce business and how to allocate your capital. Cody’s experience is definitely an eye-opener for first-time buyers. If you too would want to save yourself from this heartbreaking event, then don’t miss this episode!   Episode Highlights 00:00 What you’ll learn in this episode 03:20 Niche website builder 04:08 Why did you want an online business? 05:41 Why eCommerce? 07:23 He did everything by himself 08:29 Process 11:20 What happened to the business you bought? 15:31 Due diligence 24:18 Everything went downhill 26:19 Sources 30:28 Thorough due diligence 32:36 Cody's advice 34:48 I'm sorry this happened to you 37:30 Thank you for listening About The GuestCody started young in the aviation world and worked his way up the career path until eventually becoming a 737 Captain for Southwest Airlines.  After a four-year stretch doing humanitarian work in East Africa with his wife and four kids, Cody transitioned to leading several entrepreneurial pursuits and now works full time as a stock and real estate investor.   Resource Links ➥ Buying Online Businesses Website (https://buyingonlinebusinesses.com)  ➥ Download the Due Diligence Framework (https://buyingonlinebusinesses.com/freeresources/) ➥ Visit Niche Website Builders and get EXCLUSIVE OFFERS as a BOB listener (https://www.nichewebsite.builders/bob/)   🔥🔥 Buy & Sell Online Businesses Here (Top Website Brokers We Use) 🔥🔥 ➥ Empire Flippers - https://bit.ly/3RtyMkE ➥ Flippa - https://bit.ly/3WYX0Ve➥ Motion Invest - https://bit.ly/3YmJAmO➥ Investors Club - https://bit.ly/3ZpgioR See omnystudio.com/listener for privacy information.