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Buy, Sell, and Invest in Websites and Online Businesses with Justin Cooke

August 15, 2016

Justin Cooke is a partner at Empire Flippers, a marketplace that allows other entrepreneurs and investors to buy, sell, and invest in websites and online businesses. He’s also the host of the Empire Flippers Podcast and Web Equity Show.

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Resources Mentioned:

  • Your Big Idea: Successful Entrepreneurs have One Big Idea. Follow JLD’s FREE training & you’ll discover Your Big Idea in less than an hour!
  • Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!

3 Key Points:

  1. Be wary of your weaknesses.
  2. All the magic happens outside of your comfort zone.
  3. It gets better, so stay the course.

Sponsors

  • Citi cards with Android Pay: A super fast way to pay! Download the Android Pay app on Google Play or visit Citi.com/androidpay to get started. (Android Pay is available for eligible Citi consumer credit and debit cards.)
  • ZipRecruiter: If you’re ready to start hiring, then ZipRecruiter is where you can find your perfect candidate! Try ZipRecruiter for free today at ziprecruiter.com/fire!

Time Stamped Show Notes

(click the time stamp to jump directly to that point in the episode.)

  • [00:59] – Justin shares his story
  • [01:10] – The whole company lives abroad
  • [01:58] – The challenges of living overseas
  • [03:29] – Finding bell-ringers
  • [04:33] – How Justin generates revenue
  • [05:42] – One of Justin’s favorite sales
  • [07:12] – The more net profit you can demonstrate, the better when it comes to selling your business
  • [09:05] – Worst Entrepreneurial Moment: The early dips in a business
  • [11:13] – What are the vanity metrics that just aren’t valid to modern business?
  • [13:14] – Don’t measure the unimportant
  • [13:36] – Entrepreneurial AH-HA Moment: During a meeting with a business partner, realizing “I will never have to have a job again”
  • [15:38] – Biggest weakness? — Taking things personally
  • [16:46] – Biggest strength? – Transparency in business
  • [18:19] – What has Justin most fired up today? – Adding a management team to the outsourced team in the Philippines
  • [20:56] – The Lightning Round
    • What was holding you back from becoming an entrepreneur?  – Following a life-path that was built by someone else
    • What’s the best piece of advice you’ve ever received? – Being transparent
    • What’s a personal habit that contributes to your success? – Travel
    • Share an internet resource, like Evernote, with Fire Nation – Built to Sell
    • If you could recommend one book to our listeners, what would it be and why? – Built to Sell
  • [24:11] – Contact Empire Flippers at empireflippers.com
  • [24:21] – When you’re going through the dips, don’t give up — it took Justin 30 months to turn his franchise around

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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