Aug 29 2024 49 mins
In this episode of the eCommerce Podcast host Matt Edmundson sits down with Jaryd Krause, founder of Buying Online Businesses, to discuss his experience in buying and selling online businesses. Jaryd shares his journey from plumbing to becoming a successful online business owner hoping to help others do just the same.
Key Takeaways:
- Acquiring Established Businesses: Jaryd Krause emphasises the benefits of buying established online businesses rather than starting from scratch. This approach allows for immediate cash flow and reduces the risks associated with the high failure rate of startups
- Importance of Organic Traffic: Jaryd highlights the value of organic traffic for long-term business success, noting that businesses with a high percentage of organic traffic are more attractive to potential buyers and are better positioned for sustainable growth.
- Risk Mitigation: A significant part of the discussion revolves around strategies to minimise business risks, such as diversifying revenue streams, reducing dependency on single suppliers or traffic sources, and ensuring a business is not overly reliant on one key person or platform.
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