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.
- 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.
- Generate your opportunity to break into the space:
- Start a podcast
- Host an event
- Connect with recruiters who can source talented business managers
- Buy an existing business with the audience you want to serve
- 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
- 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
- Once your more established in the space your can start to build out your platform for connecting Business Investors and Talented Operators
- You might reduce your commission slightly once the business requires less manpower and runs more on automation
- One way to build your client base is to buy an existing business that has a similar audience.
- The Domain Magnate Show
- The White Coat Investor
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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.