In this episode Michael talks to Jaryd Krause of BuyingOnlineBusinesses.com about Jaryd's journey from being a plumber to buying businesses online and traveling the world. They discuss how Jaryd is now helping other people achieve their dream lifestyles buying and selling online businesses.
Jaryd Krause has gained knowledge, experiences and great success through purchasing online businesses and teaching people how they can do the same. Jaryd's mission is to teach 1,000 people how to replace their current income, quit their job and live a lifestyle they absolutely love.
To show people an alternate lifestyle is more than possible.
Buying Online Business
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SKIP TO THE GOOD PARTS:
0:34 - 2:24 Jaryd talks about how he explains what he does to others. He also talks about his journey from plumbing to buying and selling websites and traveling the world 2:43 - 3:43 Michael describes how he explains what he does to people. 5:06 - 5:53 Jaryd talks about how is bought his first business 7:57 - 8:46 The story of how Jaryd got into teaching people how to buy businesses 9:16 - 10:45 Jaryd explains how customers find him and how he structures his services 10:56 - 11:20 Jaryd talks about the average amount his customers will spend on a business and how it’s gone from from $30K to $50K-$250K 11:20 - 12:11 Michael explains a service offered by Domain Magnate where the help the client purchase a business and then manage it for them 12:11 - 12:59 Jaryd talks about the increase leverage larger businesses have in comparison to smaller ones 13:42 - 15:23 Jaryd talks about two important things he teaches is clients; two goals they should have 16:57 - 18:06 Jaryd talks about how he finds business on FE International and Empire Flippers and how helpful these companies are for first time buyers 18:50 - 21:07 Michael explains where Domain Magnet’s deals come from and how he is looking for a different sort of deal so FE and EF are not idea for DM’s purposes 23:11 - 24:29 Jaryd talks about how he makes money. He describes the membership and community that he is running and how much it costs 26:19 - 27:28 How Jaryd teaches due diligence to his clients and how important it is to become an “Attractive Buyer” 31:03 - 32:05 Jaryd talks about some things to keep in mind when buying your first business 32:37 - 35:48 Jaryd and Michael discuss group buying and where they feel the online investing industry is headed. Jaryd also talks about how he is preparing his team for group buying and larger investments. 37:47 - 40:43 Michael and Jaryd discuss how, right now, brand new, high-risk businesses are being sold for the same amount as some decade-old, low-risk businesses 42:41 - 43:42 Jaryd talks about finding virtual assistants to help first time buyers run their new company 43:42 - 45:01 Michael talks about how VAs and contractors can be utilized to run a business 45:47 - 46:31 Jaryd cautions people not to get overwhelmed with the amount of information out there on starting a business. He recommends finding a mentor and people that will help you learn the right things and know what to listen to and what to ignore 46:56 - 51:46 Michael and Jaryd talk about some of the places they’ve traveled including Bocas del Toro, India, Egypt, Montenegro, and many others 51:51 - 54:54 Jaryd tells a story of his first time in India when he experienced extreme culture shock at a local tradition surrounding cremating the dead 54:54 - 56:25 Michael tells a story about Thailand where he left money in a cab and was surprised when his driver actually chased him down to return it
SHOW TRANSCRIPT: [[VIEW ON OUR WEBSITE]]
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