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Welcome to the kick off episode of the Freedom Flipping Podcast! I initially thought this could be a Bootstrap Duel Podcast style show with my buddy Vic Dorfman from speedkills.io (who I use to host and manage this site) but we decided it would be best for my to go solo. If me being solo offends you then just be grateful I didn’t call it Pateycast (was damn close ha)! I’m sure Vic will be a regular and recurring guest however.
So on this episode we have an awesome guest, Justin Cooke, co-founder and CMO of empireflippers.com which is a marketplace for buying and selling online businesses which I’ve used before when sold my small ecommerce business.
Discussed on this episode
1:40 – Rules on letting people know / promoting your domain is being listed (as the domain is hidden from listing)?
4:13 – How are websites and online businesses valued? (Multiples based on profit or revenue or something else?)
9:20 – Do any of following dramatically affect pricing multiple – value of brand, domain value, email list size, customer list – or is it 80% on average last 3/6 months profit?
18:45 – What’s the most common reason people give for why they want to sell their online business? (instead of holding it and keeping the cashflow)
22:28 – Who buys online businesses?
28:41 What’s your role as Chief Marketing Officer entail?
31:00 What lessons have you learned about team building, hiring, and all things “team”?
34:15 – Have you sold any productized services businesses yet?
44:50 – Biggest mistakes you’ve made in this business? What’s your plan for Empire Flippers…gonna flip it?
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