The Entrepreneur Ethos

Jaryd Krause -- Escaping the Funnel

Episode Summary

Escaping the Funnel: How Jaryd Krause Found Freedom through Buying Online Businesses

Episode Notes

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Summary

Hey everyone. I wanted to jump in quickly let you know about the release of the audio version of my book, The Entrepreneur Ethos, narrated by David A. Conatser. If you want to support the show, you can buy it wherever audiobooks are sold. Links are also in the show notes.

Now on to my guest for today, Jaryd Krause, founder of buyingonlinebusinesses.com.

Jaryd dropped out of college and became a plumber, moving quickly into supervision, sometimes supervising workers who were much older than him and didn’t appreciate being told what to do. He worked hard but was always looking for an escape. He went through a cycle of working hard for a while and then traveling for months at a time.

One day he finally decided to figure out a way he could work while he traveled. He learned how to evaluate, buy, and build online businesses, and now shares what he’s learned in his podcasts and through his community at buyingonlinebusinesses.com, where anyone can learn how to find and evaluate an online business for sale. He calls what he teaches the “due diligence” framework, enabling potential buyers to research and analyze the potential risks and benefits of buying a particular online business. Jaryd clearly likes helping others, describing it as “teaching someone to fish.”

Now, let’s get better together.

Actions to Try or Advice to Take

“Due diligence” is key to Krause’s framework. He and his team help people evaluate potential businesses; if they can’t find anything to reject, they advise to buy. Make sure you do your due diligence before investing in an existing online business, just as you would before investing in physical property.
Small actions toward a goal can help with anxiety about a project. Krause eases anxiety by keeping the goal in sight and evaluating the steps he needs to take to get there.
Challenge the “funnel.” Krause believes that we are born with infinite choices and opportunities, but society often forces us into a “funnel,” choosing a college, or a trade. There’s a mindset shift that needs to happen to break out of this conditioning, but once you do, the sky’s the limit.

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