EFP 179: Build Or Buy an Online Business?

Justin Cooke

December 6, 2018

Would I be better off buying a business that’s already running/profitable, or should I build one from scratch?

Anyone new to the buying and selling of online businesses has to eventually answer this question for themselves.

The short answer (which isn’t terribly helpful) is, “It depends”.

It depends on a number of factors, which is why we wanted to create a framework for our listeners to use to help answer the question for themselves. We look at things like their financial situation, time availability, and specifics around the niche that makes this question easier to answer.

If you’ve been considering buying a business but wanted to weigh your alternatives against building one from scratch, this is a great episode for you.

Check Out This Week’s Episode:

Direct Download – Right Click, Save As

Topics Discussed This Week:

  • What’s your financial situation?
  • How much time do you have available?
  • How specific do you want to be with your niche?
  • What do the barriers to entry look like?
  • How urgently do you need cashflow?

Mentions:

Spread the Love:

“Be aware of what kind of time you’re looking to spend going into the purchase of the business.” – Justin – Tweet This!

“Finding ways to increase the barrier to entry in your specific niche is often a really smart play in keeping competition out.” – Justin – Tweet This!

What do you think are important elements when making this decision? Let us know in the comments!


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