How to Sell an Online Business (My experience and lessons learned)

January 2020 big month for a number of

reasons but here's another one that you

might not know about I sold two

businesses last month and it made me

think and maybe think about well what

helped me get there I can't disclose how

much money but I can disclose the number

one tip that helped me start both of

those businesses and also execute all

the way through to a sale stick around

because this tip might make or break you

alright so you might alright so you

might be wondering what these two

businesses are many of you who've been

following me for a while know that I've

developed some nice sights a long time

ago one in the security guard training

space and another one in the food-truck

space these two websites are websites

that I created as an example to share

with my audience how you can start a


even though you're not an expert in each

of those websites after a certain amount

of time we're able to generate thousands

of dollars per month on autopilot

passive income at its core and over time

each of those websites have generated

hundreds of thousands of dollars with

doing very little work which which was

amazing so it might surprise a lot of

you that I've sold these two things

because because well they were making

money without any work but were they now

I say they were hands off and 98 percent

of the time they were however for both

those websites they needed updates every

once in a while you know systems and

software changes every once in a while

industries change and you need to keep

your content updated and for both I had

teams of writers who were there to

support as well to keep things updated

but it still was something that every

once in a while

I would get an email about I would get

pinged about I get a message about and

sometimes a text message about so

although I didn't have to do anything to

generate income it still took some of my

time some of my bandwidth away from the

other things that I have going on and so

although I could have held on to these

for much longer

I wanted to wipe the slate clean clean

slate and clear those things out of my

brain because I know that I have a lot

to focus on and we often don't realize

how those little tiny things get in the

way of us focusing on those bigger

things there's a joke in there somewhere

but I'm not even gonna try to find it

that's what she said ha so again with

these deals I can't disclose how much

money I've sold them for nor can I

disclose who I sold them to however we

are still in the middle of this sort of

and that in that process has been really

interesting these are the first two

businesses I've ever sold so it's really

interesting that they both happen within

the same month of each other there's

also you know tax implications here you

know I don't get the full sum of money

that come in you know some of that I

have to pay taxes for but more than

anything I now have a lot of weight

lifted off my shoulder that I didn't

even know was there feels really really

good and I think for those of you who've

been following me for a while this is a

beautiful conclusion to these

experiments that were run a long time

ago because they were both websites that

helped launch my career as somebody

helping people fill businesses online I

mean these were purely experimental I

opened up the entire process I'll even

link to some spots below to show you

sort of the steps that I took that build

each of those websites and within each

of those websites and through the sale

of those businesses there was one tip

that I learned that mattered more than

anything in terms of how I got here and

how those businesses became successful

let me get a little bit closer because

it's kind of important the fortune is in

the follow the fortunes in the fall with

people so here is a micro example and

then I'll share a macro example of that

a bigger one so a micro example micro

what I launched food trucker

by the way look like Pat you don't even

have a food truck I was proving to

people that you don't have to be the

expert to create something that could

generate money I became the curator of

information I interviewed food truck

owners I brought them on to the blog to

share their experience and I was just

the one who stepped up to create that

hub so to launch food trekker calm very

interesting I did what's called a

roundup post if you publish content of

any kind I highly recommend you do this

so I reached out to 250 food truck

owners asking them one simple question

what's one thing you wish you knew

before you started a food truck 250 food

trucks where did I get their emails well

obviously they many of them have

websites and social channels and I just

found them and I reached out then they

were from all over the United States and

I had this big plan I was gonna feature

you know as many as I could on this blog

post and you know after a week how many

responses I got I got four four

responses out of 250 and I was like

well that didn't work but what was that

tip I shared with you the fortune is in

the follow-up so after a week I reached

back out to everybody who did not reply

that's 246 new people and I I did send

them all emails individually I

personalized them each I was really

working hard to see if I could get their

answer cuz I knew this would be a very

very valuable blog post I mean if you're

getting into food trucks who wouldn't

want to know what's the one thing food

truck owners wish they need before they

got started so I followed up and I

didn't send them a very long message all

I said was hey I just wanted to follow

up with you

I would love to feature your food truck

in my upcoming article and guess what I

got 46 more replies within two days

I got a lot of excuses like oh sorry I

totally missed that email or oh yeah I

meant to go back and answer you but I

just didn't have the opportunity to do

it who knows if they were lying or not

the big lesson the fortune is in the

follow-up so I compiled all their

answers I put them on a blog post I

launched the website with that blog post

as the main feature had a few other blog

posts there as well but that was the

main feature and it went viral

it has over twenty-seven hundred

comments now and it even got picked up

on reddit and it still continues to this

day to rank really well for how to start

a food truck the fortune is in the

follow up so that's a micro-level

example there's very many examples and

all of my businesses I've just sort of

micro successes through following up but

let me tell you about a macro example

two years ago I actually had a person

who was interested in buying security

guard training HQ calm interesting story

when I was building that website to get

the information I literally called

security guard companies all around the

United States one in each state actually

just to get the information from them

straight from the source

how to become a security guard in that

state because every state has a

different set of requirements and

licenses that you need to get and all

that sort of stuff so again me not being

a security guard not even knowing

anything about this space I just stepped

forward and did the research and call

people yeah like actually called with

you know a phone certainly that's that's

not the example the example here is with

the fortune is in the follow up this

person we

chatted for a long time I shared with

them a lot of the analytics and the

statistics and the revenue that was

happening with the website and after

four or five months of back-and-forth

and this person was about to close on

the deal for a very very good amount he

sort of backed out and it was kind of

deflating because we worked a long time

to try and get there and it just didn't

work out this person had come across

some unforeseen events in his life and

just was unable to follow through and

and I felt bad about that because I got

excited about the notion of just handing

this off to somebody who was gonna take

care of it and and and and kind of move

on from it which is ultimately what I

wanted to happen now it would have been

very easy to give up there and just

realize that yeah hey you know this is

probably not the right time or I could

take that as a sign but I persisted I

kept going I didn't I didn't bother that

person because I wasn't supposed to

you've been going through some stuff but

I just put feelers out there and I told

my team I told a number of other people

like hey I'm looking to potentially find

a buyer for the site I want somebody

who's gonna take care of it and I just

continually kept plugging that and

eventually after a year somebody on my

team said hey I mentioned this website

to somebody who I know and they want to

follow up with you so let's get on a

call together and we did and this is now

the buyer and I'm really excited because

if I didn't keep plugging that in and

having that thought that I wanted to

make this happen it wouldn't have

happened if you know you want something

to happen you have to push forth and

follow through the fortune is in the

follow up so how does this relate to you

maybe you're in the middle of creating

something and you're getting a lot of

those feelings and those devils and

you're in those voices that are just

telling you to stop well you got to

follow through have you ever golfed

when you golf and I've taken lessons

before because I desperately needed them

you realize that the follow up is where

a lot of the straightness and the power

comes from if you stop your Club right

at the ball well you don't give it

enough swing you need to swing and you

need to follow through I gotta get back

on the golf course it's been a while

have a golf since I had kids it's one of

those things I can't ask my wife for

like six hours of time I'd rather use

that six hours to do something better

with her maybe you have started putting

feelers out there for potentially an

online course that you might create or a

product or you want to register people

into a webinar and you ask people once

and nobody's replied you got zero you

got crickets are you gonna let that one

time stop you the fortune is in the

follow up and maybe you don't follow up

the same way this is what these failures

can teach you I once heard from Michael

Hyatt failure is inevitable failure is

inevitable failing is an option you have

the choice to walk away from that

situation and not even give it another

chance or try again learn from your

mistakes and follow through the fortune

is in the follow-up so if you do a

promotion one day and you have no takers

or maybe just one customer like great

you got one customer that's that's

fantastic but follow up with those

people who didn't buy and ask him

questions like why didn't you purchase

or hey you said you were interested in

this what is holding you back by the way

small tip if you ever get anybody

telling you that well your thing is too

expensive whatever it is that's

basically code for well I just don't

understand the value that you were

providing here it's not worth my money

for what it is that you're promising

here on the other end but I promise you

that if you can clearly define what's on

the other end of that course that

coaching program that product if you can

clearly define that it's gonna be so

much easier for a person to understand

that it is worth their time and money if

you've nailed that problem and have

created the right solution so what do

you think team Flynn do you believe in

the fortune is in the follow up let me

know in the comments below where you

know you need to follow up also if you

agree hit me up with a thumbs up that

helps with the algorithms and I

have been wanting to see what I can do

to crack the admiral then he can help

out I like not on another level of

fortunes in the follow parade this last

video that I published earlier in the

week I went to a farmers market and I

asked everybody you know what their

number one tip was and I gave a hundred

bucks to my favorite tip and I worked

really hard on the thumbnail I worked

really hard on that video putting it

together making it interesting making it

different and then it just it just

pooped it was it just did not like I was

getting notifications from YouTube

saying this is being watched 58 percent

less than normal for your videos and

people aren't actually sticking around

after they start playing it like oh man

that sucks but you know what here's a

new video I'm gonna keep going because

the fortune is in the follow up and

there's a lot of lessons I learned even

just in this past week about that video

and this week we're doing a little bit

more raw I'm ranting if you will but

also pleading with you that you

understand what this means the fortune

is in the follow up so tell me down

below in the comments where do you know

you need to follow up hit me up with the

thumbs up like I said if you haven't

already and finally just subscribe to

the channel because this is the kind of

stuff that I want to bring to you and

inspire you I want to educate you I want

to inform you and entertain you at the

same time and make fun of myself too

because that's what I do best if you

could do me one favor right now just

click on that video right there just hit

up that video it's one of the most

important videos I don't even know what

video it is right now but it's probably

there because YouTube wants you to see

it and I want you to see it too thanks

so much for clicking around I appreciate

you and as always team Flynn for the win