Going Public: From Broke Bootstrapper to Nasdaq Listed Business Owner With Dom Wells [Ep.106]
For many entrepreneurs, the road to success is a long and winding one, with each milestone helping you prepare for the next leg of your journey.
Dom Wells’s journey is no exception. Unsatisfied with his job as a teacher, he began building websites. This led to the creation of Human Proof Designs, a business that creates done-for-you starter websites for people looking to get into the content site game.
The success and eventual exit of that business allowed Dom to begin acquiring higher-value websites. As he built a portfolio of his own, Dom was inspired to create Onfolio, a holding company that buys, grows and operates online businesses, particularly in the content niche.
In this episode, Dom joins us to reflect on his 10-year entrepreneurial journey, walking us through the process of selling Human Proof Designs and explaining how he knew it was the right time to exit the business. According to Dom,
“Many entrepreneurs build successful 6 or 7-figure businesses because they’re really good at one thing, or they’re driven by sheer passion and force of will. The tough part is when you reach a plateau. Then you have to decide if you’re willing to push through and learn a new skill and think more strategically in order to level up, or if you’re going to use your existing skills to start over again.”
We then shift our focus to Onfolio as Dom describes the evolution of his business’s service offering. Dom also explains the dangers of spreading yourself too thin and shares advice on how to structure your team to make sure nothing falls through the cracks as your business expands.
Finally, Dom reveals what motivated him to take Onfolio public and the process involved in listing a business on Nasdaq.
With a decade of experience under his belt, Dom has a wealth of knowledge to share, so make sure you don’t miss a minute of this fascinating episode!
Listen to The Opportunity Podcast Episode #106
Topics Discussed in This Episode:
- Dom reflects on his 10-year entrepreneurial journey and how he founded Onfolio (02:22)
- The reasons why Dom decided to leave Human Proof Designs (08:56)
- A breakdown of what Onfolio offers, and how it has evolved over the years (14:20)
- The criteria Dom looks at when buying a business for his portfolio (19:05)
- How Dom grew a $1.1 million business’s net profit by 50% in three months (24:31)
- The pros and cons of cross-business synergies and operating leverage (26:53)
- How Dom has structured his Onfolio team to make the best use of their skills (29:41)
- How Dom balances marketing the businesses in his portfolio vs marketing Onfolio (33:27)
- Why Dom decided to list Onfolio publicly and what the process involved (35:22)
- Dom’s goals for Onfolio moving forward (40:41)
- Empire Flippers Podcast
- Empire Flippers Marketplace
- Schedule a call with our expert sales advisors
- Human Proof Designs
- Empire Flippers Capital
- Before The Exit by Dan Andrews
Sit back, grab a coffee, and learn valuable entrepreneurial lessons from a 10-year industry veteran!