I don't remember what year it was I
think it was probably 2014 and I was I
was at lunch with my my wife back then
she was my girlfriend and I remember
saying to her like I sort of met human
proof or something and I was like yeah I
had another business idea today I think
a really cool business would be like I
know how to buy a website of Empire
like $30,000 spare but other people have
$30,000 spare but they don't have a
growing website so wouldn't it be really
cool if though if I could partner with
people like that and and she was like oh
like real estate or a stock broker that
kind of thing and I was like yeah you
should do my marketing I was like yeah
exactly but the problem is I'm just some
dude in Taiwan like I barely full-time
and my own business and like I don't
have a track record or a team or
Authority or any of those things that
you need but maybe one day I will and
then you know that was the end of that
idea and then 2018 I did a deep dive
survey to the human proof design
audience which is from the ask method by
Ryan Levesque and basically I was just
surveying the audience and I was asking
them what their biggest problems were
and one or two people mentioned they had
money to buy websites like like big
website it's not like them for you ones
but they didn't know where to buy them
or what to do with them once they bought
them like I think three or four people
mentioned it out of a couple hundred
which is what was I mean that's actually
high enough to continue this
conversation so I emailed a few people I
was like so do you think a course on
website investing would be good or do
you think a service and some of them
were like yeah of course would be good
someone like a service would be good and
then so I actually built a course and
while promoting the course even more
people were like you know a service
would be good and I was like I know I'm
just trying to promote the course first
and then I was like wait a second I had
this idea before like four years ago but
now I am an authority I do have a track
record I do have experience I do have a
team interesting and I also think the
market now is more mature there's more
there's better websites for sale like
you know no offense to my flippers sites
in 2014 but the ones for sale now away
better they're a lot bigger you know
there are sites on the market right now
like five million dollars two million
dollars eight hundred thousand dollars
that are like still just content web
sites and there's more serious money
moving in but there's still a lack of
like professional sort of managers
there's there's there's more and more
people coming to the same conclusions
that I'm coming to you and the more I
talk about it the more other people will
enter the space so you know if they
haven't built a certain this business
before get local anything how to do that
but yeah so I just kind of felt like I
got the validation I realized like I had
all the answers this time whereas I
didn't four or five years ago and I just
started talking about it a little bit
and people were like yeah I've been
looking for this kind of business for a
long time it's just suddenly like we've
got like 30 sites that we're running and
it's like oh okay I guess this is a good
idea so that's kind of it's just it's
like for me it's a great story but for a
beginner listening to this or someone
who's trying to find their way they
might be like oh yeah that's great for
you because you already had an audience
and you already you were able to
leverage your network and so on and like
yeah I can't really deny that so I think
it's just the case of understanding
maybe your market and looking for a gap
or a need and I think that is why I keep
falling into service businesses because
I keep
seeing these needs out there and not
being afraid to run our service to
fulfill that need and I guess my advice
to anyone who would is a beginner like
that would be to just the more
experience you get in your niche the
more you'll the sooner you'll be in that
kind of situation that I was in because
it is just a pen a case of like what do
they say like you have to work for
10,000 hours to get overnight success or
something like that and I don't know if
I'm thirty who will be classed as an
overnight success but it definitely
feels like a case of it's very easy
right now because of what I've done
before so you know people just have to
do that before a bit to get to to this
kind of position interesting well I mean
you you started with no audience and no
credibility and you built it over time
so yeah like you said it's a eight year
overnight success or something like that
but you know when you look at it though
it's really on folio is a bit of an
extension you know another service
business it's not like you've switched
business models completely is just like
higher stakes higher investment value
but it's the same concepts overall so
very cool very cool yeah that's true
yeah
so from a like services that on folio
provides so can you kind of outline like
what the process is like if someone's
interested in investing maybe it's like
a private investment group maybe a
family family trust or something like
that like what happens yeah so we've got
three services really well we've we've
got three but we've got two because no
one's ever used one of them someone
suggested it to me and I was like as a
good idea no one's ever run for it
so one service is actually kind of we
partner with people who already have
sites and there whether they built that
site from scratch or they bought it we
partner up and we generally people come
to us for two reasons like one is
because they just don't know how to grow
the site anymore
or they don't have the capacity like
maybe they have a full time job they're
like I know what I need to do to get
this to the next stage but I don't have
the time others just don't know what
they need to do or it's people that just
don't have the bandwidth or the desire
to run their sites anymore like we run a
couple of sites for a Chapman who he has
a huge portfolio of sites and he's just
like okay can you guys just run these
for us
and then there's yes there's no those
people those sites we don't just take
like smaller sites because it's not
really worth our time and we can you
know we want the site to be established
so that we can turn the dials and makes
that happen and then the other service
is similar but it's like someone has
money they want to get started but they
don't know how to run a site so they'll
they'll buy this I will run it for them
and we'll help them find the site we'll
do the due diligence we'll hop on a call
with the seller and do all of that stuff
and then they own the asset that will in
exchange for a management fee and a
share of anything we can grow we will
run the site for them and again for that
one like we have a minimum which is
$50,000 because anything below that
there's not really enough profit in the
site for us to make for us to take a
management fee and then for there to be
a budget for growing the site and the
investor to get ROI so like the bigger
the amount of money then the bigger it
is forever the other service which no
one uses is just like something kind of
in between it's like you want to buy a
site and you want to run it yourself but
you don't want to buy a scam we'll just
do the due diligence for you okay no one
no one is interested they either they
you don't want us to run it over there
they're fine
and then one thing we are looking at
doing is kind of a
grouped by type thing where it's like
like we really want to move up the food
chain because when you buy a site that
is say 500k it's got way more profit and
it's peer now generally it has a team
already like VA s and everything
included content costs are already
included usually so it's got the growth
budget like baked in and also it's a
much higher quality site and we can run
fewer of them like we could run 5 500k
sites and make a very nice management
feed to be worth our time and grow those
sites but we don't need to hire like 50
we don't need to buy 50 sites to pay for
our overheads because 50 sites you can't
really focus on them so what we're
thinking of doing is like maybe someone
only has 30 K or someone has 100 K but
they don't want to just buy one single
site with it so we'll probably like what
we think about doing is like every
quarter basically pooling the people
with money together and like a JV and
then you know setting it up as like a
legal entity and and just buying like
one site with it and so that's more like
a kind of like a real estate investment
type thing like the way that works and
then we'll just run it and predetermine
whether we're gonna do it for cash flow
or like Senate in two years or something
like that
so that's that's the service which was
attracted the most attention I thought
it would be the partnership but
generally people that already have sites
they're less willing to give away some
of the share which which is
understandable whereas other people are
like yeah I just I have money I just
want to invest and I want but I you know
I don't want to I wanna buy a site and
have it go to zero right so it's yeah so
that's that's the area that we're most
excited about and where we can offer the
most value as well gotcha
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