yeah so the jute that's a tongue twister
due diligence always get it and all the
clients as well but we it's it is
important the first thing that I look
for is the opportunities before I look
like how to grow it like they're the
opportunities like so I'll look at
different things like what's you know do
they have an email list that they're not
currently marketing do they have a
social media accounts that are not
currently targeting or posting content
when was the S last SEO work that
they've done and what was it and what
type of improvements could we do to the
SEO to to get a top ranked higher in the
search engines get more traffic coming
in what type of marketing is being done
is it is it working if it is working
great why's working so we can double
down on it make that marketing even
better if it's not working why is it not
working so we can make it better as well
and the key question that I like to ask
is is why and why and why why why why
why is like this why is it like that
and I sound like a child well that's the
why question so much but it's so good
because you get so much information when
you're doing your research in Judea
Latin so first of all I do when I'm
scanning for businesses I look for all
these opportunities of like how can I
grow this business and what I just wrote
it off there is just like a real snippet
that's what goes on in my brain I put it
I put it out on paper and into other
forms of like education that people can
consume but when it comes to the point
where I look for like red flags we call
them red flags or you know things that
you know raised something that we need
to check out is that's where we dig into
the deep due diligence in finding out
like all right what what SEO work has
been done and has there been any
blackhat SEO for people listening you
know you love to different types of SEO
white black out gray in the middle black
out not so good well not good at all
especially according to the new update
on google but yeah so we check out
what's what are some things that
concerning and then ask those harder
questions to the sellers and that can be
anything through the marketing through
the SEO through the competition
financials and a few other things that
we look for as well so yeah pointing out
those red flags is is really really
really important things that you can't
see yeah and if you I guess like what's
the weirdest sort of red flag that
you've seen in the due diligence process
yeah so there's there's been so many oh
one last week this is the one of the
guys posted in the group he's like oh
this person wants to sell their site and
they want to sell the Australian domain
with the dot-com value and he said is it
is it something I should be cautious of
that the person who's selling it wants
to have me sign a document or agreement
that I can that he can still trade his
services and products in Australia even
if I buy the condo you and I just that's
a huge red flag and that was quite weird
for me to to be asked that question
somebody that's a total beginner to this
space which is it's fair it's a fair
question but that's raised as a massive
red flag like why would somebody why
would you buy a business of somebody and
allow them to keep trading which is
gonna be your competition and they've
really way more built out there what
you've just bought right yeah that was a
quite a weird one yes Oh have you had
from the financial perspective like I
know as a you know an entrepreneur who
didn't know anything about you know
business or marketing or doing anything
on my own it was a little shaky luckily
I could like work a spreadsheet pretty
good but it was a little shaky like
keeping track of the books and you know
I think I wrapped it up pretty tight
early on but have you seen just like
terrible books where you know someone is
saying they're making a lot of money but
then when you start looking there's
a lot of empty spaces in this story of
profit oh it's so common it's so common
you've got people that are all over
marketplaces and flippers really
cleaning this up which is really good
because there I just spoke to the
flipper CEO a couple of weeks back and
they're putting some tools in place to
prevent this but there have been and
people that buy that buy websites offer
a platform here in Australia it's called
gum tree it's much like eBay but you can
you can sell just products
australia-wide and people sell websites
even on eBay and this place called gum
tree and one person wrote me probably a
year or two years ago oh hey Joe I
really want to buy this website it's
$15,000 to buy it and it's making to
$12,000 a month
do you think this is a good investment
um and anybody anybody that sees those
nuts like that's awesome like get it
like that's such a good deal but it's
just so unrealistic right like and I
just wrote back to him like no that's
just that's terrible it's just it's just
why would somebody sell something worth
$15,000 you know or something $14,000
when it's only making 12 and yeah that's
that's really common to see that where
businesses are selling for like ten
thousand dollars and they're making two
thousand dollars a month or a hundred
thousand dollars in they're making
$50,000 a month and you're like it's
just not realistic the multiple is very
different these days and so that's
something that a very be wary of I have
had personally a website that I bought
my second business is I bought one and
the currency it was an Aussie business
and it was being sold in US dollars but
it was using a company in a different
country with a different currency so
there's three currencies that I had to
convert and the books on the
international currency there wasn't Asya
US Dollars was like so hard to
understand and I put my hand I was like
dad just like my dad loves like
accounting type stuff and and doing book
work it's like dude
can you please just like a look at this
because I don't yet it's a great
business I can see it's making great
money but I just don't get it yeah so
and that's a huge tip everybody is put
your hand up for help when you want to
do any sort of investing or achieve any
level of success all right
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