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July 22, 2021 29 min

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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.


    Love a part of the show? Did we get something completely wrong? Let us know at update@runwithit.fm.


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