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What To Keep In Mind When Flipping Online Businesses – With Greg Elfrink

In this episode of “The Art of Selling Online Courses: Winning Strategies & Secret Hacks From Top Performers, Greg and I are talking about what asset flywheel strategy is and how to use it to become financially free.

We will also cover the potentials of selling and buying online businesses compared to continuously growing one. Greg will walk us through how the market and evaluations for online businesses have changed over years and what price range to expect if you decide to sell your course.

If you want to hear more about these topics, check out the new episode.

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What You’ll Learn In Today’s Video:

  • What is asset flywheel strategy 
  • How to use asset flywheel strategy to become financially free 
  • Selling and buying online businesses vs continuously growing one
  • What price range to expect when you decide to sell your course
  • Changes in online businesses evaluations in the last years

Ideas Worth Sharing:

‘’An online business that is run well grows so much faster than stocks and shares and dividends or property.‘’ – John Ainsworth

‘’What a lot of people don’t realise is that growth is a double-edged sword. You could grow so fast and so quickly where your own success kills you.’’ – Greg Elfrink

‘’As you scale up bigger, you’re not just scaling up your revenue, you’re also scaling up inefficiencies that you didn’t even know existed. And those inefficiencies can become these gaping holes. And really become alligators for you down the road.’’  – Greg Elfrink

‘’It’s much better to always buy a business like the one that you sold, because you already know the roadmap to success.’’ – Greg Elfrink

‘’The person who knows how to grow a business from 10 to 100 million might not know how to grow from 1 to 10 or from getting started to one or anything like that. So it’s like, you get that specific skill set and then you leverage that in the same business model.‘’ – John Ainsworth

‘’Most authority sites, depending on the niche, can support many different business models.’’ – Greg Elfrink

‘’The hardest part of the whole thing is the first business. ‘Cause that’s the one where you really need to hustle to make it happen. Once you sell that business, that’s when the real fun begins. Now you have two paths. If you want to be more conservative, you can take the capital and build a new business. But buying a business is way, way faster.‘’ – Greg Elfrink

‘’So the first business is the hardest one. Then you buy two smaller businesses, you build those up and then you sell them, and where you go from there is you buy two more that are bigger businesses or buy four more of a similar level. And you repeat this just two or three times at the end of that five-year period, you’re seeing on a huge amount of wealth.’’ – Greg Elfrink

‘’Don’t try to just maximise yourself, maximise the opportunity you get when you do sell.’’ – Greg Elfrink

About the speaker:

Gregory Elfrink is the head of marketing at Empire Flippers, the #1 largest curated M&A marketplace in the world for buying and selling online businesses. He helps educate the market and help entrepreneurs understand how they can level up their life through a successful exit, or how to grow a portfolio of profitable acquisitions.

Resources In This Video Interview:

This interview is part of our video series “The Art Of Selling Online Courses”, where we talk with top performers about their winning strategies and secret hacks. When you join our Facebook group “Advanced Online Course Creators” you will be able to see the full videos and get more exclusive content to help you grow and scale your online course business

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