Freedom Flipping Podcast Episode 1 With Justin Cooke & Vic Dorfman
Welcome to the kick off episode of the Freedom Flipping Podcast! I initially thought this could be a Bootstrap Duel Podcast style show with my buddy Vic Dorfman from speedkills.io (who I use to host and manage this site) but we decided it would be best for my to go solo. If me being solo offends you then just be grateful I didn’t call it Pateycast (was damn close ha)! I’m sure Vic will be a regular and recurring guest however.
So on this episode we have an awesome guest, Justin Cooke, co-founder and CMO of empireflippers.com which is a marketplace for buying and selling online businesses which I’ve used before when sold my small ecommerce business.
Discussed on this episode
1:40 – Rules on letting people know / promoting your domain is being listed (as the domain is hidden from listing)?
4:13 – How are websites and online businesses valued? (Multiples based on profit or revenue or something else?)
9:20 – Do any of following dramatically affect pricing multiple – value of brand, domain value, email list size, customer list – or is it 80% on average last 3/6 months profit?
18:45 – What’s the most common reason people give for why they want to sell their online business? (instead of holding it and keeping the cashflow)
22:28 – Who buys online businesses?
28:41 What’s your role as Chief Marketing Officer entail?
31:00 What lessons have you learned about team building, hiring, and all things “team”?
34:15 – Have you sold any productized services businesses yet?
44:50 – Biggest mistakes you’ve made in this business? What’s your plan for Empire Flippers…gonna flip it?
Catchy Call To Action
Have you got access to the Build Your Own Freedom Vault yet? It’s a free membership area where I’ve curated the top content online for bootstrapping an online business, whether that’s a productized service, client business or building your own authority sites to flip.