After losing his job, David Corner dove headfirst into ecommerce, buying a business off of Flippa that was already generating income and then turning it into a profitable, location-independent, automated business.
In this episode, David and I discuss the criteria that he used to choose a business, how he went about doing the due diligence and buying the site, and how he immediately increased the business's value by automating processes and delegating whatever could not be automated.
In this episode, you'll hear the following:
- David Corner's story about losing his job, buying an ecommerce business on Flippa, and transforming it into an automated, location-independent business that now supports him full-time.
- The criteria that David used to evaluate his options when choosing a business to buy.
Links referenced during the show:
- Flippa.com - The place to buy and sell businesses online.
- Zoho CRM
- David's 2 ecommerce sites: QiHerbs.com and QuiltedClassics.com
- Email David at info (at) davidcorner (dot) com.
Download David's free tool for evaluating business opportunities
David has put together a spreadsheet that allows you to plug in in the different critera you want to consider, assign each criterion a value, and then calculate a "score" for each opportunity. This is a powerful way to objectively evaluate several businesses you are considering purchasing. Download the file now (Excel spreadsheet)Quote of the week:
“Fail often so you can succeed sooner.”
~ Tom Kelley