The Exchanges

Q Amazing. Uh, yeah, it's, it's one of the tricks. Now, uh, what do you give people a sense of how do you make sure you're not buying a lemon?

A Yes, that's, uh, I get a question a lot. Um, so when you go to flipper.com, I would really, um, Be careful because flipper.com is a marketplace. Anybody can just upload, you know, their listing or their website and basically claim whatever it's on you to do due diligence. If you go to a broker, like quiet like brokers, they basically do all the vetting for you. They will like look at the business is everything legit. Um, so the risk is much smaller. Um, but regardless, if you are new to this, if you are, you know, it's your first business, you can, Hire a due diligence company, uh, Centurica, Centurica.com is one. I think those are the biggest, uh, well known. You pay, you know, it depends on the listing price, but it's as cheap as a couple hundred dollars. Um, and it goes up from there, but they do all the due diligence for you. They look through all the traffic. Is it legit? Is the revenue legit? Is whatever, everything they claimed, is it all legit? And then they can come back to you with like, well, we looked at all the data, all the numbers, um, you bought it for 1.2, but we think it's actually worth 900 K because these are the reasons. Um, so definitely recommend going with a due diligence company, um, like Centurica.

AI assessment note: “Hire a due diligence company, uh, Centurica, Centurica.com is one.”

Q And you had told me then that, uh, you're like, yeah, the business is doing good. And the person really wasn't doing any marketing or they didn't run any Facebook ads, I think was the case. And so you just saw like a career clear growth lever. So break it down. Like, what is your. Why do you do this? And then how do you do this buying businesses thing?

A Yeah. Um, like I, me personally, I think it's also like, what's your personal preference? What's your skillset? Some people are really good at going from zero to one are really builders. Others are really good at going from one to 10. And those are, you know, scalers. Uh, I'm not really good at building. Uh, I'm better at, uh, scaling. And so I like to buy versus build, uh, because it gives you a lot more speed. Um, it gives you history and data and it's similar like real estate where I try to find, um, crappy houses that you need to fix up, but in a good up and coming neighborhood, if that makes sense, right? Like, you know, like, okay, yes, good market. There's a market fit, you know, if, if This house was amazing. You would be able to rent this out for two, three, four times more than the current, uh, owner does. Uh, it's the same with, with websites. So I look for websites that have a good product mix, uh, product fits, um, has history. Uh, it doesn't have to be, you know, going really well. Uh, I'm not looking for websites that are overly optimized. So I tend to not buy websites from other internet marketers, uh, because they're already Did all the things that I probably would do for it. So it's not really room for growth. Um, so I look for.

AI assessment note: “I like to buy versus build, uh, because it gives you a lot more speed.”

Q pieces on that. So the first is, um, with something like this, would you, how would you try to grow it or would you, would you not buy this because you say, I don't know how I would grow this where, you know, I get, I get a faster payback on my money. So what would you do? Well, how would you think about the growth levers for this one?

A Yeah, that's a good question. Um, I will personally not buy it at the moment. Um, but, um, because the price tag typically I, Only buy, you know, things in a couple 100,000 dollar range, uh, not millions. Um, the, what I would, without knowing too much of the current business model, I definitely would try to increase RPMs. Meaning how can we squeeze more advertising dollars out of the same traffic? They get like tens of millions of visitors a month. Um, And, uh, I looked at a couple of similar websites and I think there's a huge opportunity by, uh, placing ads differently, just increase, um, RPM similar. If you have an e-commerce, you want to increase conversion rates. If you have a content sites, you want to increase RPMs, meaning how to get more people to click on the ads or things like that. Um, So I would do that. Secondly, I would look and do research, like, for sure, if there's a huge segment of people that love Scrabble, what is this, like, what other games do they like? And maybe build a sub, uh, sister website that does, I don't know, like, what's it called? Sudoku, uh, or whatever. Um, so that's, that's the two, the two things that I would, uh, if I would buy this type of website.

AI assessment note: “I will personally not buy it at the moment... I definitely would try to increase RPMs.”

Q Goat milk soap. What the heck is that?

A Yes. So apparently, uh, goat milk soap is better for the environment. Uh, and it's better for, they say it's cruelty free, uh, because apparently a lot of soaps, the traditional soaps, they do testing on animals, et cetera. Uh, so they claim, and like, forgive me for people that, you know, know about goat milk soap. I, this is the first time I heard about it. And that's why I, uh, that intrigued me. Um, but this could probably be a product that people that use this are very passionate about it. Same like, you know, people that are into keto are super passionate, uh, or, you know, there's tons of these examples where it's a pretty small niche, but people are so passionate that they, they will spread the word for you. Um, so this website, you can find it on Flippa. Um, just search goat milk soap.

AI assessment note: “goat milk soap is better for the environment. Uh, and it's better for, they say”