The Beginners Guide To Buying A Profitable Internet Business with Justin Gilchrist – Teaser

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hmm so what I love how you have a perspective of many different businesses that’s why I love being a business coach I’ve helped tons of really crazy different kind of businesses and it’s really neat to see like the pro I mean business is business there’s lots of very similarities in between all of them’s which you’ve probably seen so I want to know what your commonalities are when they buy businesses what are some of the things that are lacking that you can improve to make it better I want to know sort of what you’re looking for in a business you get into the deep juicy stuff as well so this I mean there’s just this myriad of things that you can do when you buy a new business and what I often tell people to do is look focuses rather than kind of buy the business and then think right I’m going to pursue this strategy you’re really looking for a business that is deficient in that particular area because that’s where your values going to come from and you know that cliche you make the money when you buy that really is true but internet business because you can often see what the areas for improvement are before you buy the business especially because with web as opposed to an offline business you’ve got all of your stats and your numbers and your analytics and you can see them long before you buy you know so you can look in the classic example is a business that currently relies on something like social or SEO for its traffic everyone thinks SEO is this great you know amazing Oh SEO is witchcraft like if people were passing SEO in England 100 years ago they literally would have been burnt at the stake because SEO is the only thing where you pay somebody money I don’t if you’ve ever used an escalation assay but you pay someone money for something that gives you no guarantees has kind of like no duration set to it might last a month it might last a year and then the people that you paid the money to you can blame competition they can blame Google they can blame you you know it’s just basically crossing your fingers and you’re hoping for the best with SEO and I’m trivializing a whole the whole thing in business in general right so every business is different and so even if you’re like oh pay traffic works for most you’re like oh well does it work for this one it’s all a test anyway and that’s why you’re saying buying a business is a little bit better because they just test the heck out of it beforehand and they know some things are already working instead of you I mean because testing marketing is a pain in the butt like I work with clients all the time and it’s like okay let’s do this test let’s do this test especially when you’re there’s so many options like you said and you can just feel like you know a chicken with your head cut off running around going I don’t know what the best option is how do you mitigate that like how do you figure that out like which marketing tests to start to run at all so I don’t think I’m alone in this but my biggest problem is focus if I focus like I’m 32 now think about it think about your oh my gosh you’re so don’t even I’m older than you sure I’m 32 I think I’m 32 and so you know I’ve I’ve kind of been working for myself forever for as long as I can remember and if I look at the various things that I did over the years if I just focused it’s like investing in stocks you know if you invested in one stock and just kind of ruined that stock out over 30 years you’re probably gonna do better than if you just play in the market you never really go into that from them our guest average person but yeah I think focus is one of the most important things which is also one of the reasons why I like buying something that is established because you’ve kind of got a blueprint as to this is what I should focus on already in terms of deciding what to focus on by way of marketing or which channels or which platforms I would just focus on what already works and the problem with that is it doesn’t really seem sexy and to a lot of people that want to come on board and they want to do this like home run where they do do that aside LinkedIn ads and just totally change the game and now my sites doing seven times what it was doing before the reality is there’s a reason why I linked it that’s all I can it could be that the owners just never got onto that so the first thing I will always do is make sure that I am maxing out what already works with the exception of SEO that is a black hole of time I will do some SEO if the previous owners done SEO or outsource some parts of that but I think you have to put some restrictions on that because it’s very very difficult to measure but I think from there if they’re already doing social marketing and you can see you get a return soldier more saying look at what the potential is for social marketing are there a lot more people I can attract if there are just rehash that same formula over and over and over why not you know you’ve paid for that sort of advantage of knowing what works so why not use it