There is no such thing of buying an online business and getting rich quickly. Working with three different clients right now, one who understands it takes time and having the right team supporting the business with their expertise. Another client acquired a great domain and content, but the website metrics are overstated. The new client acquired a company and launched a new website at the end of August. Google Ads are not set up to target the right geographic and demographic market.
Based on all these business cases, to be successful, it is about asking the right questions and bringing in the right people with their expertise.
- If you are looking to acquire an online business, ask to see at least two years of the website performance. If there is any question go hire bring in a digital marketing consultant who is a certified expert in website analysis.
- Is the business an eCommerce operation, is the Google Analytics implementation correct regarding how the transactions are tracked and reported. If the answer is no, ask for actual sales reporting.
- The advertising mindset. The decision to use Google Ads seems simple, but too many business owners are looking for an instant return on their investment. There are two solutions; the first is to take the time to understand the platform and how it works before investing in it. Second, go search for a Google Ads certified professional who will take the time to understand your business and market to manage your ads for a consistent return on investment.
Acquiring an online business is like buying a car. If you do not look under the hood and the entire vehicle, there will be regrets down the road.