042: How to Buy an Online Business (instead of Starting One from Scratch) – Justin Cooke of Empire Flippers

Background on Justin Cooke of Empire Flippers:

Justin Cooke (CMO/Founder) is the brand ambassador of Empire Flippers. From content to paid traffic, he keeps the sales staff busy and the lead funnels full. He’s also a digital nomad (aka homeless), but spends most of his time in Manila, Bangkok, and Saigon. When not geeking out on sales funnels and marketing automation, he loves fruity drinks by the beach and watches Game of Thrones as a guilty pleasure.

Time-Stamped Show Notes:

[0:54] Justin is the Founder of Empire Flippers, a company that helps people buy and sell websites and online businesses.
[2:47] Most of their teams are spread around the world.
[5:07] They set-up an outsourcing company in the Philippines.
[8:24] In their first year, they sold $200,000 worth of websites and last year, they had almost $10 million in total sales.
[14:34] They sold their company in the Philippines because they lost their main client.
[16:45] “You’ll have to try multiple things, you have to fail and stuff but when you’re onto something that’s popular and that’s working, I came to a realization that you’ll know it.”
[23:10] One of the most challenging periods for them was when the outsourcing company didn’t work out.
[25:29] There came a point when Justin’s business partnership was going through some tough times.
[29:45] “It’s typical for people to think that their business is worth more than it actually is.”
[33:19] “If you want an idea on what types of businesses make money, go over to the marketplace.”

Fabulous 4 Questions:

📖 📚 Favorite Book(s)? Built to Sell: Creating a Business That Can Thrive Without You by John Warrillow &‎ Bo Burlingham
🙌😎 Favorite Amazon.com purchase? I'm typically traveling in SE Asia, South America, etc., so no Amazon for me, unfortunately!
🌱💸 Favorite Tool that's GROWN your Business? Slack – allows for great communication within our organization.
💭💡 BIGGEST Challenge keeping your Business from GROWING? We need to strengthen our middle management so that we can continue to scale our team. Working on it!