Forget Starting a Business, Do This Instead | Ep. #665

In episode #665, Eric and Neil tell you what you should do instead of starting a business. Tune in to hear why you don’t have to start your own business. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Forget Starting a Business, Do This Instead [00:46] Neil thinks starting a business is one of the hardest things to do. It is far easier to buy a business. [01:25] Buy a company and grow it. [01:48] Income Store has over 800 websites. They buy other websites and promise a return to their investors. [02:09] They brought in $28 Million last year. [02:29] If you think you can’t afford to buy a business, you can always do cellar-based financing where you pay a monthly fee. [02:53] You can do a lot of creative things to cut costs and improve profits. [03:05] You can also only buy a portion of the company and include a clause where you can buy them out in the future. [03:34] FE International has great content about buying businesses. [03:45] Buy Biz Sell, Flippa, and Empire Flipper are also great resources. [04:02] If you are looking for low-cost deals, Flippa and Empire Flipper are good for that. [04:34] Neil’s favorite business purchases are blogs that aren’t properly monetized. [04:45] Buy a business once you have proven that you can grow someone else's business. [05:00] Use those skills to grow your own site. [05:30] Grow things on your own and once you're confident, buy a business. [05:34] That’s all for today! [05:37] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.