hello their bread idea hunters welcomeback to another episode of the brightideas podcast I am your host as alwaysTrent dear Smith and also as always I'mhere to shine a light on what is workingin the world of e-commerce and I do thatby sharing with you the tactics and thestrategies that have been proven to workby proven entrepreneurs and in thisepisode my guest is a fellow by the nameof Jared KRAS did I pronounce thatcorrectly Jared yeah Kraus Kraus JaredKraus and we're going to be talkingabout how jared has built his businessby buying existing businesses and if youmay recall I actually interviewedanother fellow on my show a couple offellows on my show one by the name ofShaquille Peraza and one by the name ofPhil D'Allesandro and so this is yetanother interview with someone in thespace of acquisitions before we get tothat we do have a sponsor message thesponsor for today's episode is HR F'sthat's a href Escom and when I am priorto discovering this tool I have to admitI wasn't really a fan of SEO I thoughtit was too technical I thought I waskind of late to the game and mostly Ididn't think I was ever gonna get anyresults but now that I've been usingtheir tool and have had the opportunityto have deeper conversations with a fewof the really smart folks on their teamas a matter of fact I interviewed theirCMO his name is Tim Timsoh gosh now remember getting the namebut I'll put a link in the show notesanyway I've learned a great deal abouthow when you have access to the rightdata SEO is not nearly as complicated oras scary as I thought it was so forexample what kind of data well wantingto know which keywords are drivingtraffic to a competitor's site supereasy to discover I could then target thesame keywords wanting to know how toimprove the rank for my youtube videosor wanting to easily perform detailedkeyword research to identify acollection of keywords that I shouldbuild my cornerstone content aroundor wanting to see for example popularpages on a competitor site all thatstuff and quite a bit more is reallyreally easy to get out of their toolit's actually a very amazing onlyall-in-one SEO tool that does far morethan just help you to build backlinks soif you want to grow your traffic and youwant SEO to be a part of that I stronglyencourage that you check it out and theyhave actually just launched a new betafor their keywords Explorer and addednine additional new data sources so lotsand lots of data for you to access so ifyou haven't tried it yet you can get atry out for just seven bucks and you cango to their website a href s.com and Istrongly encourage that you go give it ashot because you will be amazed at howpowerful it is so with that said Jaredthank you so much for coming to makesome time to be on the show pleasure tohave you here for the folks who maybebecause you're from down under maybe thefolks here who aren't too terriblyfamiliar with you yet let's start therewho are you and what do you do yeah I'mfrom down on des I've been to the USactually used to live in Park City for acouple of months I was just snowboardingbut what do I do I justI buy website businesses and most of mytime now goes to teaching people how tobuy them started off with the I used tobe a plumber and I just really hated itand I wanted to saw everybody have thislifestyle of being traveling around theworld and making money I was like yeahthat's that's what I want and I foundmyself and I was I was working in Egyptand I was working as a dive master and Irealized that enough was enough I don'twant to go home broke back to plumbingand Haiti in my life I want to mm-hmm Iwant to just jump online and work outhow I can do this so I jumped on aliterally just pulled up Google this isback in 2013 I typed in how to travelwell and make money onlineyeah and there was a lot of differentthings that came up but what was mostprominent was like travel bloggerstrouble bloggers travel bloggers and Ithought alright cool I put my hand upI'll become a travel blogger and I didthat for so long just hustling reallyhard and realizing how hard it was tomake money from trouble bloggingespecially now everybody with an iPhoneyou know they're your competition righteverybody wants to be that lifestylewhere they get paid to travel mm-hmm andso I had to give that away had to givethat up and I decided I'm gonna startyou know building a website at a properbusiness and I started to build my ownfirst drop shipping businessand I just failed miserably because Ididn't know what I was doing like I Iwas started selling travel Floridaproducts and I came up with like againstlike the biggest competition there isand I didn't know how to do marketingvery well and it just flopped I've madeit sold a couple of products and made alittle bit of money but I went home withmy tail between my legs and for I've gota you know stick it out of plumbing andwork out something else and I cameacross the stat that 90% all startupsfail and I thought well I startedlearning about how to run somebusinesses online businesses why don'tgo and buy onelet's pass that failure rate and that'swhat I did I just dumped on my trustyfriend Google again with this the mostamount of education you can get andtaught myself how to buy our websitesand I bought one and then I've made areally good return on a matter of yourthirty percent return on my firstbusiness and I thought well this is thisis much better than investing in thestock market and which I was doing froma younger age and then I decide what wasthe first site you bought what did it doso it was I don't really have it now itdoesn't exist because it's just sort ofoutdated and website where people couldsign in and become a member to getaccess to a whole list of whole sales toyeah to start their own drop shippingsite it's kind of membership based modelso I bought that one and I grew that andI look a lot how to do really goodcontentknocking through that and then I boughtyou know seven months so it was aboutseven or eight months later I thought Ineed up the ante if I wanna get out ofthis this plumbing gig and I boughtanother one and then you know after youknow year from my first one to the earfrom buy my first one I was making morefrom my full-time because a plumber so II quit and I went traveling and then Ibought another one and then peoplestarted finding out and that's why Istarted teaching people like can youplease teach me this stuff yep so thesecond one what was the second one dudethe second one was a dropship business Ibought it off the back end of flipper wedid a we did a little deal just awful ifI found on flipper and they were on adifferent broker and they just weren'thappy with how it was goingnobody showed interest so I've got areally good deal and I was lucky enoughand I was lucky enough to get a seven Imean a hundred percent return in sevenmonths but the thing with that businessis it took me a lot of time to do thedue diligence on financials because theyit was an Aussie based business but itwas being sold in US dollars but theyhad a foreign currency as well so it wasthree types of currencies all all justlike jumbled up and I got my dadinvolved and I was like dad just tell mewhat to do like I don't know how to lookat these numbers properly and he he toldme don't go I am by this website it'snot a not a good investment and he wasjust trying to keep me safe but I I hadthis this gut feeling that was a goodinvestment and I was prepared to take onthe risk you know as a calculated riskand I was prepared to take on what riskcould have happened compared to you knowwhat I could have achieved and luckilyenough the stars aligned for that one soyou got it off the back in the flipperand had some currency issues to make itdifficult to do the due diligencewhere did you borrow any money to payfor it or did you just pay cashyeah this one was all my websites I'vebought of cash yeah okay it's hard toget financing for websites there's somethings coming out now and you can usit's not it's easy here yeah you've gotLen though have you heard of lenva calmso they do lending particularly forwebsites and their terms are quite harshwhere you've got to really pay like abig deposit like I'm talking sixtypercent deposit to get financing but Iguess you can you know you can getbusiness loans I don't know how easythey are to do this taste it's prettyeasy it is in the States there's aprogram that we have called the SmallBusiness Administration or SBA and sothey're kind of commonly called SBAloans and essentially the SBA tells thebank you know we'll guarantee halfbelieve it's half alone so it makes it avery low risk low risk proposition forthe bank and you can get as many ofthese loans as you would like as far asI know I've got a couple of them alreadyand I know that other people she loseput on my show he's got a bunch of themand it makes it very very easy and youcan finance up to ninety percent of thepurchase price which is also prettyphenomenal so you can get a incrediblecash on cash return if you buy a healthybusiness so in your case and you'vebought more since the the second one Ithink you're up to three you've bought athird is that correct yeah both three intotal want the first one I'm not usingand I've just got three that I run nowokay and the three that you run now arethey all in the same niche or they alldrop shipping sites or are theydifferent what's what does it look likeyeah so what I run now is the mybusiness where I teach people so that'sa you know it's like a coaching type oneand then I've got to drop shipping onethey're both two very different nichesone is selling hanging chairs likehanging egg chairs and hammocks inAustralia and I just bought that becauseit was a quite a good business and Ibought I want to remember flippers andthen thethe one before that was the the one thatwas in foreign currency and had all thisall this fun stuff with the financialsthat one I sell tailor-made suits andtailor-made shirts and pants and stufflike thatfor men and women so it's not they'renot niches that I'm particularly I wasparticularly strong in but I knew thebusiness model really well and Iunderstood it and this is something thata lot of people come to me when theylike want to buy website they say Jaredwhat sort of you know I wanna buy awebsite with something that I'minterested in man they don't realizethat it can be quite hard to find thosebusinesses I've been I've looked forbusinesses in surfing and stuff that Ilove but they're just you know I haven'tfound a whole lot that are available forsaleyou know it's better to stick to whatyou know and what I mean by stick towhat you know is not black if I know alot about surfing try and find one ofthose but if you if you know how– dropshipping site works or FBA site worksand you understand it then work outwhich one makes more sense to you FBI ordrop shipping and then go with that yepso for someone who's never dropshipbefore this guy to me it seems like okaywell all I have to do is find a sourceof traffic which there are a number ofsources many many sources of traffic andthen I have to find suppliers who aregoing to agree to dropship it doesn'tseem like it would be any morecomplicated than that yeah that's that'sthe easy version so with shipping andthis is a debate you know drop shippingverse FBA and and that goes on and withdrop shipping yeah you can find productand here you can find traffic but thequickest way to grow is throughmarketing and you do get better profityou know you get your I wouldn't saybetter profit margins because depends onthe different products and where you buythem and how much you buy them from bulkif you do do the FBA model but the coolthing about drop shipping is that youdon't have to put up some upfront cashfor buying bulk of inventory so you canput thatin SEO if you wish or marketing like PPCmarketing so when you buy for the sitesthat the to drop shipping sites thatyou've purchased did you know in advanceyou wanted to buy drop shipping sitesand if you did was there certaincriteria that you were specificallylooking for or are you just kind ofbrowsing Empire flippers or wherever yougot them thinking that one looks cooland that one looks cool how did thefinding it process work for you yeahso I did want to look for drop shippingbecause that's what I had learnt Itaught myself a lot through that firstone that I made many blunders thatmm-hmm and like the I like that Iwouldn't say niche about the businessmodel and my criteria for buying themwas like is it a product that is easilyreplicable ma'am and if that's notsomething I want and the reason being isbecause when you go on Flippa or allthese other different types of sitesthat don't make you sign an NDA which isa nondisclosure agreementhmm you can take that information onlike what products are selling reallywell and just easily replicate thatbusiness like you said just find thatsource of traffic and find us a lot andsomebody could be can you can becomeyour competition overnight so that's notwhat I wanted and I threw a lot ofcaution to a lot of people to reallyconsider like are they buying a sitethat is easily replicable because youknow then you got a lot of people thatare in that same pool in the sameindustry so that's something that Ididn't want so that's why I stuckI found a hanging chairs and I thoughtwell this is this is you know somethingnot a lot of people doing thisespecially where the business is thatI'm I had perhaps sorryin Australia I checked out mycompetition that wasn't you know wasn'ta whole lot in the same of the suits atthe time there weren't a whole lot ofpeople doing tailored made suits andbringing them into Australia and sellingthem to Australians mm-hmso I bought that one and it wasn't theseproducts weren't something that was afad it wasn't something that was gonnadie off in 3 2 3 4 5 years people alwaysget me so that was a criteria ofsomething that I really wanted as welland I also looked for profit marginsbecause I didn't want to buy somethingwith like just such small profit marginsbut had to like really rely heavily on alot of traffic I wanted to have a higherprofit margin and have like stabletraffic for the site where I didn't needto straightaway invest heavily in SEO toensure that that traffic was gonna staythere or grow so what are some of theoperational challenges that you've runinto now that you have more than onebusiness that you've purchased uh so mythe second business I bought I wasspending a lot of time on my firstbusiness and then when I bought thesecond is business I had done a lot ofcontent marketing and I had a lotscheduled in so the challenge be like mychallenge was having a job and having totwo businesses so when I bought thesecond business the challenge wasensuring I could make it run really wellwithout me now the cool thing about thesecond business that I bought is thathad two employees and that allowed me tohave a lot of it automated but then Iautomated another process and thechallenges is severe honest I didn'treally have challenges because I didn'tI didn't buy businesses that were toomuch work for what time I had except forwork wise and then I knew when I boughtthese businesses like maybe there was ashort amount of time that I had like Igot a really hostile hello for a goodmonth or two months to get this partautomated once I did that then it wasvery streamlined and that's why I wasable to buy my second one and then mythird one and then start teaching peopleand that was the goal my my initial goalwas like I don't want to get intothis industry of buying sites to buymyself many jobs of like I've got thisone here that takes me 20 hours aninsulin the takes 20 and this one thattakes 20 hours and all of a sudden I'vegot three businesses taking me 60 hoursa week and that's like exactly what Iwas doing plumbing but I'm stuck in abox of a room trying to run thesewebsites when I'm not outside which iswhat I really love so my biggestcriteria and that's a great thing thatyou brought up is that my strongestcriteria is that I didn't want to dothis to become super rich and superfamous I did this because I wanted tohave a lifestyle absolutely the samereason I'm in the online space as wellas it allows you to accomplish a certainvery desirable lifestyle so it wouldseem that now from the trafficperspective the two that you bought werethey getting the bulk of their trafficfrom SEO or from ad campaigns yeah sothe first one was or both of themgetting him from SEO actually and then Iknow sorry this the sec the last onethat I bought bulk of it was coming fromor was a mix it was coming from SEO soorganic and then also they were payingfor Adwords and the AdWords account wasquite consistent and getting sales in soI've just looked more about Adwords andI'm not a gun and Adwords unfortunatelybut I you knowyou know I've been on the phone on thephone with Google and they've all helpedme optimize my campaign here there andthe the second one I bought was SEOparticularly SEO and I did start runningFacebook ads when I started getting goodat Facebook ads and I had some otherpeople help me with it they were no goodand this is a big blunder than a lot ofus make as we go away and we outsourcehelp and we spend a bit of money and wedon't really get the results we wantthat's something we've got to be carefulfor but absolutely yeah the foot so mixreally the the suit business mainlyorganic SEO and a mix for the chairbusiness okay so do you have folksthat are now running in managing andmonitoring the campaigns for you do youhave folks that are creating content foryou because you know obviously if you'renot continuing to grow then essentiallyyou're dying so you can't just leavethem sitting there and think thatthey're just gonna print money forevercorrectso I have had people help me with SEO onthe suit business and I do the work forthat for the chair business a little bitas well I've still got one employee forthe suit business that runs it and doesthe customer service and the orderingand dealing with the tailor and all thatsort of stuff and then somebody thatdoes some of the work as well with thethe marketing and then myself I do alittle bit of AdWords with the chairbusiness and the day-to-day maintenancewhich is very it's quite a seasonalbusiness nobody bought wants to buyoutdoor chairs in in winter so at themoment it's not a whole lot of work tobe done with it and roughly aroundChristmas time that's when we get busybecause we have a hot Christmas sure nowI gotta forgotten the question I wasgonna ask yourself to come up withanother one terms of managing the thepeople that worked for you are are thereany mistakes that you've made along theway that actually sorry I remember myquestion I'm gonna go back and ask butwhen I ever want to ask I like yellowinto the I thought well yeah we remindme of that one when we get this one donewhen you're doing the due diligence onthese sites how did you ensure that youweren't buying a site that had builttheir SEO on black hat tactics there yougo so this is why I hate refs is goodright that's how I'm gonna say I wasgonna say just after that I had tripsit's a really good tool and I used a Hrefs there's there are other tools SEMrush was free when I was using it aswell and there's a really cool tool Idon't know if you should know it now theneil patel it's go tool so using thesedifferent tools to help yousee you know if they've done like ifthey've got heaps of like spikes intraffic because of like pbn or somethinglike that and what a pbn is a privateblog network so I would stick away froma PBM now that's not so like I don'tknow whether you call that blackhatbecause people are still using it andGoogle does I think depending on thesites that are linking to it if it'slinking to it and it's got no relevancethen it's I feel it's dodgy and that'ssomething I like to detect is like whereis that traffic coming from and and whyand that's how I would detect like theirshady blackhat no-go SEO tactics ifyou're gonna buy a website yeah actuallyhref makes that ridiculously easy to doyep yep where all the links are comingfrom there's just so much reporting youcan do there's a site audit tool inthere and you just punch the URL in andyou get just scads of information like Iwould punch your site in while we weretalking and I can see you know how manybacklinks you've got how many referringdomains you've got how many organickeywords your ranking for what thetraffic looks like with a graph ofgrowth of referring pages growthreferring domains new and lost referringdomainshow are we looking since it's such ayoung site cuz I haven't used I haveseen colonial yeah your rank is stillpretty high at 35 million two hundredand sixty three thousand eight hundredthree so you've got some work to do onthat one since maybe four months ago youmight have seen some changes then yeahyour grasp of referring domains so backon July 14th you had zero and now youhave 49 referring domains there was abig spike in referring pages from aperiod of about July 21 through toFebruary 17th and then it dropped off ofher amount and then it's been climbingsinceand a good portion of your traffic'scoming from not surprisingly Australiaand then the United States and I've onlyjust getting that happening yeah andthere's there's even i mean i i've beenusing the tool a lot but there's still awhole bunch of stuff that i've nevereven used inside yeah cuz there's justso much there it's crazy yeah it's agood investment right like yeah ifyou're really you know if you're reallygoing to plug away and do SEO and learna lot and not put that responsibilityinto somebody else then it's worthwhilegetting and that was your next questionwas like i was going to talk aboutputting responsibility into somebodyelse yeah where you were gonna ask wasthat what you know something about stufflike how do you how do you so when youone of the great so having staff isincredibly valuable there are I thinkthere's two mindsets out there there'swhat I call the 4-hour workweek mindsetwhich is hey I just want to delegateeverything and then there's the employeemindset which is I want to hireinternally and we use a hybrid model wehave a fair amount of delegation tovirtual assistants because for somethings it just doesn't make sense for meto pay like a u.s. wage and then I haveemployees as well but for both we relyheavily on our documented standardoperating procedures I don't know howpeople do it without operatingprocedures because how do you ensurethat things are getting done the way youwant them done so I'm curious maybeyou're one of the people who doesn'thave procedures or maybe you do I didn'tout of time and now I dowhen I first cuz I bought a black I hadmanage staff lots of stuff previously inmy like my role as a plumber I was asupervisor for quite a large plumbingfirm and running big shopping centersand stuff like that so and you had alike manage hey that work but I knew howto work with people but they were notbuilt my first businessit was using two VA s and they alreadyhad you know some SOPs and theirdifferent systems that they use in waysthey ran things and the cool thing thathappened with this and this is a massiveadvantage to somebody is buying a sitewith the VA or with an employee asthey'd taught me so much about thebusiness and so much about how they workand I came in with an open mind andreally allowed them to share like thisis how we do this and this is why andwith my skill of going all right cool Ican see where you're coming from and seehow you're doing it that way and whylet's see if you can make your jobeasier and quicker by doing it this wayhow would you like that and then we justlike I just changed a few little thingsthat they had already been doing butthey were already quite efficient in anyway so I was lucky like I was very luckywith that and then when I started hiringdifferent salespeople for you know thecoaching business and stuff that I'mdoing now I didn't really have systemsin place and I started then I got amentor and he was just like full systemsfocused and I went through and I createdthis massive like flow chart of systemsthrough Google Docs and stuff like thatthat could allow people to see like thisis what you do when this happens or thisand that and then you do it this way andeverything they needed all the trainingwas there everything and now that I hadsystems like it's just it is it doesallow you to do the 4-hour work weektype deal where you mention like you canhave videos as long as you've got themrunning through the right system andthey reach out when they really need toor they can't work it out for himselfthen it's it's so good it allows you tohave that lifestyle and work great manwhen I didn't have them when I didn'thave themI was working harder and like managingand trying to like micro or firefightingmaybe yeah exactlywhereyour systems of resided I still inGoogle Docs yeah yep well at the risk ofshamelessly plugging my own softwareprogram we we have an applicationdesigned specifically for that calledflow stirrerit's a wholesome Closter app and one ofthe biggest cuz we started off with themin Google Docs as well and one of thebiggest benefits of putting them intoputting your SOPs into a proper softwareapplication whether you pick mine orsomebody else's is the ability to toknow what's going on so for exampleyou've got a VA you've assigned in thisworkflow they have questions about itand rather than having them just sendyou an email which is maybe unrelated tothe document you can add mention eachother back and forth we can upload filesI can give them I can if I have a reallylong workflow that has multiple stepslike for a podcast episode as an exampleit's broken up into a pre-interviewsection the interview section thepost-production section the promotionsection of the YouTube section and I candelegate the tasks and each one of thosesections to different people on my teamand give them different due dates andthe whole system alerts them and alertsme and if things could go past two datesthen you know I would know and theywould know and so forth whereas withGoogle Docs when we were there we youknow we just relied on email and itbecomes a bit of a tangled mess becauseyou got all these emails flying all overthe place but how do you connect themall to which document and so forth andso on yeah and that's why you can dothat with that slack but I daresay youknow having jumped between two is justnot idea and I agree so thanks for thatyeah no problem and we also have ifyou're into HRF in particular we have amarketplace in the app where if youdon't want to build your own standardoperating procedure if you'd rather buyone on the marketplace is increasinglygetting more and many of them are freeat this point in time because we'recreating them but I'm also recruitingother influencers who have specificareas of expertise that for example Idon't and they also have an audience andthey're starting to create SOPs thatwill be in the available in themarketplace in the near future to beable to do you knowwhatever it is that's aligned with theirparticular expertise and that can be Iknow in my experience I've sold severalmillion dollars worth of SOPs now so Icame to realize almost by accident thatpeople really value them but they don'twant to make them because it's a lot ofworld I don't know how or they don'tknow how and it's much easier to buy youknow like to use a simple metaphor toget a much easier to buy a dinner recipeand then edit a few things to your ownparticular liking then to start yourdinner recipe from scratch becausethat's a lot more work totally agreetotally agree so let's finish off withbecause I'm running up on a hard stopfor timeif you were to so someone's listening tothis and they're thinking you know hey Ikind of want to buy a site I like theidea by an existing business but Ireally don't know where to start solet's give a two-part answer one how doyou think they should go aboutdeveloping their criteria for what kindof business they should look for andthen number two when they maybe findsome candidates what are some of thethings they should really watch out forto make sure they don't make a badinvestment yeah great so how todetermine what business should you buyfor yourself depending on where you'reat in your journey old your knowledge oryour skill set and I talked to Gregsorry Alex champagne from Empireflippers about this and when we talkedabout this we realized that people havedifferent skills and different hobbiesnow when you don't know anything aboutwebsite businesses online business thefirst thing you want to do is learn afew different business models and I'mtalking like drop shipping amazon FBAaffiliate sites and there's a wholethere's a whole different bunch likeyour SAS businesses and lead generationbusiness and brokerage types websites aswell once you learn a few of thosedifferent ones then see and feel whichone you gravitate tomost because you understand it mostdoesn't mean that you have to look for asite that's like that's like I saidbefore I want to look for a site that'ssurfing you really narrow your searchdown and you're almost narrowing it downso much then then you can't for that youcan't find them yeah so like to tellpeople is to find the site find thebusiness model first that suits youfor me that was drop shipping because itwas a girl out it was going to allow meto do the Tim Ferriss 4-hour workweekand then when you when you have thatthen start working out what you likeabout different types of drop shippingmodels or different types of affiliatesites and then you can start to buildyour own criteria of what's gonna workfor you and the biggest thing that Iwant to throw a caution to people isthat when you find this site and sayit's selling and I'm not into likephishing or like I'm not into suits alot and sitting down and hanging chairsand stuff is that to really beopen-minded about the business model andlearn how to because what people tell usis that we need to follow our passionright the your whether they say your petyour passion forget what forget the andthe saying but I believe that there'snot just we don't just have one passionI believe that we can be passionateabout different aspects of what we do Irealize this with my my job that Ididn't like plumbing I didn't want to doit but I knew that when I found bitsthat are better alike I could reallystart to enjoy my job a lot more andit's the same one you're gonna go andbuy a websitedon't be so closed off to a product oran industry or whatever it is thatyou're like that just doesn't gel withme be open to it because you can usethat as a really good investment to helpyou achieve a lifestyle goal and you canfind passion in as well so the firstoffers I would look for the businessmodels what resonates with you the mostand then what sort of skills do you havefrom either your job or a childhood orwhatever that you could instill into abusiness that you are looking at likefor myself like I had worked with a lotof people and I was able to managemanage people and work with people andthat's a massive skill set and that'swhat I have the foundation of how Ibuilt like what I'm what I'm buildingright now is because I can connect andtalk to people and listen so if you caninstill different skill sets and see anddetect where you can install differentskill sets into different businessesthat's gonna help you sort of narrowdown your criteria so make sense it doesand I would add for the 8 for thelisteners I would add one other thing tothat whatever you're buying today isn'tthe thing you have to run for the restof your life and that you know you cango and take courses and go to school anddo stuff to learn things or you can buya business to learn things and I willassure you that you will work far harderfar far far far harder to land sudden tomake a business that you've purchasedmore successful and the lessons youlearn will be phenomenal in thatexperience and so maybe in the beginningbecause analysis paralysis is a hugeissue for every person who has a braineyes and ears and especially whenthey're new and so when you know you seeall these businesses is very easy to getin the habit of going oh well no thatdoesn't fit this criteria no no no no nono no no no no no and then you never buyanything and then you never make anyprogress you've got to figure out onethat you think you know what I could runthis for a year I could learn a greatdeal I could make a bit of money andthen but I could increase the value ofthe business during the period of timethat I own it and then I could turnaround and sell it in this exact sameway that I bought it and now armed withall those lessons and that experienceway more so than the money that you madebut if you do a good job here and sellit for more than you paid for it nowyou're in a position to to do maybe alarger acquisition the second time roundor something more aligned in a certainindustry or niche because you discoveredsomething alongthe way of being in the trenches thatyou would have never ever learnedhad you not rolled up your sleeves andgot in there and started digging ditchesevery day because books and courses andpodcasts and videos you know you'resitting there listening but it's only soonly so much sinks in right yeah exactlyand so to sum that up exactly what yousay is like the best way to learn aboutbusiness is to be in business and likeyou saying rolling up your sleeves andgetting in there and doing it is I whenI hear this it was an ounce of theory isequivalent to a pound know a pound ofpractice or something like that yeahyeah and yeah it's and you get what I'msaying it's like so much by just goingin and doing the amount of people thatcome to me and is like they've just gonefrom seminars seminar to seminar andlike I'm gonna change my life and changethe world I'm gonna do this and likeawesome you don't need any moreinformation we've got the freakinginternet here like we've got all thebooks that we can get free you know ohno I get the library app and I can getfree audio books I didn't even needaudible like you can get information forfree everywhere we don't need any moreof that we need exactly what you said islike rolling up your sleeves likeabsolutely so on that note we do need towrap up because I have another interviewthat I have to record in ten minutes andI have to get ready for that so thankyou very much for being on the show forpeople who want to learn more about youthey can find you at buying onlinebusinesses calm so buying onlinebusinesses plural calm or just type inJared Krauss in anyway okay thank you somuch for being on the show Jerichohaving me try and really appreciate it
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