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Nuggets:
- Many investors who buy a business trip up over simple operational details (e.g. forgetting to renew a domain name). Michael has seen this happen time and again.
Action Steps:
- Generate your opportunity to break into the space:
- Start a podcast
- Host an event
- Connect with recruiters who can source talented business managers
- Buy an existing business with the audience you want to serve
- If you’ve connected with a recruiter you can understand their fee structure, add a profit margin and use this information to sell this service to your first Investor clients
- You can begin charging a commission as soon as your make your first connection, probably 5-10%, or you can just get a testimonial and case study from the deal
- Once your more established in the space your can start to build out your platform for connecting Business Investors and Talented Operators
- You might reduce your commission slightly once the business requires less manpower and runs more on automation
- One way to build your client base is to buy an existing business that has a similar audience.
Links:
- https://www.domainmagnate.com/
- https://domainmagnatecapital.com/
- The Domain Magnate Show
- The White Coat Investor
Michael Bereslavsky is the Founder and CEO of Domain Magnate, a micro private equity firm that acquires and operates online businesses.
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