Most online business owners are constantly trying to come up with their next great idea for a new business. However, as Chuck Mullins from CashForYourSite.com wondered, why reinvent the wheel when millions of eCommerce stores are readily available for sale? Chuck has spent nearly 20 years exploring this option since starting his first business fresh out of high school.
On this week’s episode, we discuss what to look for when considering buying a business, the best ways to find available businesses and how to effectively do due diligence prior to buying. We also discuss some of the requirements in Chuck’s purchasing agreement.
What You’ll Learn From This Episode:
- The two things that most buyers don’t consider when buying a site.
- What Chuck looks for in an online business.
- The conversion rate optimization tips that are the fastest ways to increase the monetization of a site.
- The easy way to demonstrate that you are a reputable site that on average increases your conversion rate by 60-117%.
- Why Chuck prefers to find new deals through networking.
- The 12 steps of due diligence for buying a site.
- Chuck’s top tips for choosing an online business