141: Online Businesses – The State of the Industry, with Empire Flipper’s Joe Magnotti

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 10 April 2020

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Joe Magnotti is the CEO of Empire Flippers, an Inc. 5000 company and the #1 curated marketplace for buying and selling established, profitable online businesses. Joe has a background in engineering and spent the 90’s at a startup in San Francisco before moving onto the mortgage business. Now Joe spends the majority of his time in Manila, Philippines.

In this episode, we will discuss the 2020 trends for buying and selling online businesses. Expect to hear predictions of where this industry is headed including ways to navigate businesses during the COVID-19 crises. Whether you are buying a business and want to grow it, or you want to sell your business for maximum value, you’ll discover insight to help achieve that goal.

Where we are:

Johnny FD – Sri Lanka / IG @johnnyfdk
Sam Marks – North Carolina / IG @imsammarks
Joe Magnotti – Manila, Philippines

Sponsor:

Support Invest Like a Boss: Join our Patreon
Sponsor: Automation Finance

Discussed:

Empire Flippers State of Industry - Trends Report
ILAB 10 – Empire Flipper’s CEO: Investing in profitable, cash flow websites

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Time Stamps:

02:09 - Discussing business and personal goals during the quarantine
10:23 - The silver lining to the COVID-19 pandemic
18:46 - The upside to a remote office structured company
21:38 - “For me, I love it, I’d never want to go back to an office if I can avoid it” - Joe Magnotti
25:44 - Economy insight & current digital trend in the Philippines
28:51 - What is an Inc 5000 company?
29:58 - What is Empire Flippers and how does it work?
37:19 - 2019-2020 Trends for buying and selling online businesses
40:46 - Amazon FBA business tools and techniques
42:21 - “If you have a physical product business and you’re not on Amazon, you’re doing yourself a disservice” - Joe Magnotti
44:43 - Selling distressed assets along the economic COVID-19 cycle
55:02 - How the international supply chain is affecting businesses
58:17 - The easiest online business to buy and manage
1:06:05 - Should you buy an Amazon-based business?
1:10:13 - Analyzing 2019 trends for buying & selling online businesses
1:17:46 - Appreciating our podcast listeners!

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Transcript

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0:00.0	Hey guys, this week sponsor is Automation Finance, and it's open to both accredited and non-accredited investors.
0:06.8	We'll tell you more about them during the break.
0:10.6	Welcome to the Invest Like a Boss podcast. I'm Sam Marks, and I'm Johnny FD.
0:14.4	We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:19.1	Join us each week for exclusive interviews with our network of modern investors,
0:22.5	business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:28.5	Hey bosses, this is Johnny FD.
0:30.1	And welcome to episode 141 of the Invest Like a Boss podcast.
0:35.8	I'm just on a road trip out here in Spain, going to hang out with McCaffey, grab
0:39.6	some coffee.
0:41.5	Where are you at, Sam?
0:43.7	I'm in northern Italy's just doing some hiking through the foothills.
0:49.7	But in reality, we are in the same place that we wore last week.
0:54.2	I'm in Sri Lanka, Sam's of Charlotte.
0:58.3	We're starting to sound like boring individuals, Johnny.
1:01.3	We're going to have to be careful how many episodes record during quarantine.
1:05.3	Yeah, but well, actually, I think most normal investment podcasts record from the same office every week.
1:12.0	I think we're the only crazy ones that just happened to always be in a different country.
1:15.5	Well, I think that makes, that's the most interesting part.
1:19.3	I mean, we're still learning a lot now, 140 episodes in, but I always enjoy catching up with you and seeing what you're up to.
1:26.2	Yeah, pretty much every single week
1:28.5	up until this, I've had to ask you where you were, but now I know where you are.
	...

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