EFP 138: Strategic Website Acquisitions

Justin Cooke

June 5, 2015

Joe and I are big fans of the CNBC show, “The Profit” with Marcus Lemonis. Each week he finds himself walking into a new business to review their business, check their financials, and see if he’ll be willing to make a major investment to help turn that business around. With more than $14M invested to date, he’s definitely had a few duds, but he’s also had some breakout successes.

The 3 Keys to Successfully Acquiring Profitable Websites

While helping to renovate the business he looks at three things: People, Process, and Product.

In today’s episode, we wanted to look at strategic website acquisitions through the same lens. How can we use the three P’s to determine whether there’s a value in a potential strategic acquisition? For fans of the show and others looking for ways to expand their strategic acquisition opportunities, this episode’s for you.

Check Out This Week’s Episode:

Direct Download – Right Click, Save As

Topics Discussed This Week:

  • Product:
  1. Direct Product Match
  2. Parallel Products
  3. Unrelated products that appeal to your customer avatar
  • Process:
  1. Can plug into your system
  2. You want to plug into their system
  3. Technology
  • People:
  1. Acqui-hire
  2. Economies of Scale

Mentions:

 Spread the Love:

“A good strategic website acquisition is more likely to be valuable.” – Justin – Tweet This!

“Strategic purchases can add value immediately.” – Justin – Tweet This!

“If it’s a strategic purchase, the potential is easier to evaluate.” – Joe – Tweet This!

So – what did you take away from this episode? Have you ever dealt with credit card fraud? Let us know in the comments!


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Discussion
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  1. Jeff says:

    Hey Guys,

    In the podcast you mentioned your ZenDesk Ratings and you seemed to actually track these as a metric.

    Do you use a 3rd party app for reviews or the ZenDesk Default? I find it very hard to share reviews with my team using the ZenDesk rating system.

    Any advise on how you do this would be helpful.

    Thanks.

    • Justin says:

      Hey Jeff,

      We use the Zendesk defaults, although they’re not quite as clear or intuitive as I’d like. Have you found any interesting 3rd party apps that are helpful for reporting purposes?

      I know Joe’s currently talking to a couple of guys about doing some ZD consulting for us – reviewing our processes, reports, etc. to see if there are any improvements to be made.

      As an aside, here’s a business idea we would DEFINITELY pay for:

      Create a “WP Curve” type offer for Zendesk. Have agents that can do small tweaks/changes for us and charge a monthly recuring fee. :-)

      • Jeff says:

        No 3rd party apps for us, I could not find one that did the job.

        And yes I would pay for a 3rd party app no question. If you come across anything let me know, I will do the same.

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