The Due Diligence Mindset You Need When Buying An Online Business with Dave Rodenbaugh

One important part you should identify in due diligence before buying an online business is the risk it has, which categorizes into controllable and uncontrollable risks.   Once you identify these risks, you can make informed decisions for your business. Dave came back on the show to spill the beans about due diligence so you can spot a great deal! Dave Rodenbaugh is the founder of https://Recapture.io, an abandoned cart and SMS/email marketing service for WooCommerce, Shopify, BigCommerce, Magento, Easy Digital Downloads, Restrict Content Pro, and more. Founded in 2015, Recapture has processed over 2.0 billion in gross merchant volume (GMV) and recovered over $200,000,000 for stores worldwide. We have discussed the first site mistake that  Dave made, personal brand dependency in business, and risk versus opportunity. Should you buy for opportunity or less risk, which is better and why?  We also talked about long-term games with long-term people. What happens to people who rush? How to put time on your side rather than against you? (which is what most people do, and it squashes their growth) How should you work your way up to Saas business? Ultimately, Dave will share a piece of advice for people wanting to get into buying websites. If you want to buy a business or just earn an income online, this could be the most important podcast episode of ours you’ll listen to.Hit the ‘Play” button now!   Episode Highlights 03:30 Early mistakes Dave made 08:30 Risk Vs Opportunity  19:25 It takes a lot of experience 20:43 Hiring great people 25:30 "Fast Burn Fast Churn" 31:01 Opportunity will come! 33:00 If it's not HELL YES then it's a HELL NO! 36:05 What pushed Dave into Saas Business? 40:10 Where should YOU start?   About The GuestDave Rodenbaugh is the founder of https://Recapture.io, an abandoned cart and SMS/email marketing service for WooCommerce, Shopify, BigCommerce, Magento, Easy Digital Downloads, Restrict Content Pro, and more. Founded in 2015, Recapture has processed over 2.0 billion in gross merchant volume (GMV) and recovered over $200,000,000 for stores worldwide. Dave started his entrepreneurial journey back in 2011, having built a business directory and classified plugin business from scratch and selling them both in 2020. He's also the co-host of the RogueStartups podcast and the WP Minute Ecommerce show.  He now works exclusively on ecommerce and has a passion for making merchants of all kinds more successful with their stores. He truly loves email, dark beer, lifestyle businesses, and his family. Not necessarily in that order.   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/)   Connect with Dave Rodenbaugh: ➥ https://recapture.io/ See omnystudio.com/listener for privacy information.