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June 15, 2015, 07:11 PM
A profitable business tomorrow, even if you don't have one tonight.

Dien's discussion on Flippa and buying websites is ONE way you can have a business in 24 hours.

This reminded me of discussions we've had over the years for rapid business, quick cash and residual income, now is as good a time as any to take another look.

We've discussed licensing deals. Patents and copyrights, barter, liquidation and finder's fees. There are gobs of little known or talked about opportunities.

Tiny the tow truck driver bought his first truck on a pay as you go from the profits, this is often found in Owner financing situations, basically, the owner acts as the “bank” or lender and the deal is often structured like a land contract (and sometimes involves real estate).

We looked at Ben Suarez' acquisition of a book, Vermont Folk Medicine, a best seller in the 1950's and how he obtained the marketing rights with a contract and no out of pocket money. He then sold boatloads of the new edition and turned the old into gold.

Many websites offer “ancient” tomes, book and courses which are now in the public domain. To borrow Boss Springsteen's verse, “hell a little touch up and a little paint” (Human Touch) and Viola you have a potentially valuable item.

Of course, your marketing skills come into play, but...BUT, you may be able to acquire ownership or a Toll Booth Position by simply taking over an existing one. There are four basic considerations for an acquisition... supply, demand, operations and marketing.

The ideal take over would have an endless demand, a readily available and preferably exclusive supply.

Also, the ideal would be hands off in the operations, that job being done by competent people better suited for it. And an already existing marketing plan, again, the ideal, one which could be scaled up.

I always look at distribution first, how does the consumer or buyer get the product or service. How is it distributed. It is a good first question when looking at an acquisition.

These are just some thoughts to get the ball rolling on some lesser known ways and not oft talked about methods for putting the dough into our pockets and mouths.


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