Run With It

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Investors are eager to acquire profitable online businesses, but often don’t have the operational chops to keep them afloat, much less grow them. Michael Bereslavsky of Domain Magnate shares a business idea that pairs investors with competent operators.

Show Notes

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Nuggets:

  • Many investors who buy a business trip up over simple operational details (e.g. forgetting to renew a domain name). Michael has seen this happen time and again.

Action Steps:

  1. Generate your opportunity to break into the space:
    1. Start a podcast
    2. Host an event
    3. Connect with recruiters who can source talented business managers
    4. Buy an existing business with the audience you want to serve
  2. If you’ve connected with a recruiter you can understand their fee structure, add a profit margin and use this information to sell this service to your first Investor clients
  3. You can begin charging a commission as soon as your make your first connection, probably 5-10%, or you can just get a testimonial and case study from the deal
  4. Once your more established in the space your can start to build out your platform for connecting Business Investors and Talented Operators
  5. You might reduce your commission slightly once the business requires less manpower and runs more on automation
  6. One way to build your client base is to buy an existing business that has a similar audience.

Links:


Michael Bereslavsky is the Founder and CEO of Domain Magnate, a micro private equity firm that acquires and operates online businesses.

Love a part of the show? Did we get something completely wrong? Let us know at update@runwithit.fm.

What is Run With It?

Need a business idea? Run With It shares unused business ideas from successful entrepreneurs, including the exact steps they would take to launch them. If you're looking for a ready-made business idea, proven founders are sharing them every week on Run With It.