If you like the show, please <a href="https://podcasts.apple.com/us/podcast/run-with-it/id1477133536">leave a review on Apple Podcasts</a>!Nuggets:<ul><li>Many investors who buy a business trip up over simple operational details (e.g. forgetting to renew a domain name). Michael has seen this happen time and again.</li></ul>Action Steps:<ol>
<li>Generate your opportunity to break into the space:<ol>
<li>Start a podcast</li>
<li>Host an event</li>
<li>Connect with recruiters who can source talented business managers</li>
<li>Buy an existing business with the audience you want to serve</li>
</ol>
</li>
<li>If you’ve connected with a recruiter you can understand their fee structure, add a profit margin and use this information to sell this service to your first Investor clients</li>
<li>You can begin charging a commission as soon as your make your first connection, probably 5-10%, or you can just get a testimonial and case study from the deal</li>
<li>Once your more established in the space your can start to build out your platform for connecting Business Investors and Talented Operators</li>
<li>You might reduce your commission slightly once the business requires less manpower and runs more on automation</li>
<li>One way to build your client base is to buy an existing business that has a similar audience.</li>
</ol>Links:<ul>
<li><a href="https://www.domainmagnate.com/">https://www.domainmagnate.com/</a></li>
<li><a href="https://domainmagnatecapital.com/">https://domainmagnatecapital.com/</a></li>
<li><a href="https://www.domainmagnate.com/podcast">The Domain Magnate Show</a></li>
<li><a href="https://www.whitecoatinvestor.com/">The White Coat Investor</a></li>
</ul> Michael Bereslavsky is the Founder and CEO of Domain Magnate, a micro private equity firm that acquires and operates online businesses. Love a part of the show? Did we get something completely wrong? Let us know at update@runwithit.fm.

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