Why The Answer To A.I. and Robots Are People and Relationships In Online Businesses with Jaryd Krause

Is A.I. going to take over people’s jobs and businesses? Is this the end for online businesses? 

In this episode, William Griffin and Jaryd Krause discuss this debatable topic about A.I. and robots, and how people can adapt to this technological innovation and use it to their advantage. 

Jaryd Krause is the founder of Buying Online Businesses (BOB). He is an expert on buying and growing online businesses, who now also helps take people with no online experience to buying and growing their own online businesses. With a decade of experience, Jaryd’s strategies have generated millions of dollars in revenue for his clients. 

William and Jaryd had a conversation about business valuation and noticing trends in the online business industry. How is getting information from the news different from getting news from people you know?

They also talked about the cooldown in the market and whether we are in a buyers' market. Jaryd shares an example of lower multiples. He even shared his thoughts around the pivotal change he sees when it comes to buying an online business -  Are affiliates in or out?  

Lastly, Jaryd shared when and how to use A.I. (and if you should)? The myth of the solopreneur and how relationships in and out of business lead to a successful life in ALL areas. 

Are anxious about the A.I. takeover in the online space? Check out this episode and find out why the answer to A.I. and robots are people and relationships!

Episode Highlights

2:22 How to determine the fair price for an online business?

13:01 Staying up with industry trends

21:42 Balancing work execution and discovering new things

28:32 Using AI to complement work

31:42 First actions after buying a website

32:25 How important are people and relationships?

42:57 Knowing your audience

Key Takeaways

➥  When considering the purchase of an online business, it's important to approach the process with a comprehensive due diligence plan. The first step in due diligence is to conduct a thorough examination of the online business's records. This will help you understand the financial health of the business and ensure that it is a viable investment. Another important step is understanding where the market is at.

➥ Jaryd's suggestion highlights the idea that A.I. should be used to complement your already existing workflow, rather than replace it entirely. While AI technology has the potential to improve efficiency and productivity, it is not intended to replace humans. 

➥ Jaryd explains the importance of relationships both in life in general and in the context of buying an online business.In life, relationships play a crucial role in our personal and professional growth. When it comes to buying an online business, relationships are also important. Building relationships with the business owner, employees, and customers can provide valuable insights into the business and its operations. These relationships can also help build trust and credibility, which are crucial when negotiating a sale or dealing with any issues that may arise during the transition.

About The Guest

Jaryd Krause is a serial entrepreneur who helps people buy online businesses so they can spend more time doing what they love with who they love.

He’s helped people buy and scale sites all the way up to 8 figures, from eCommerce to content websites.

He spends his time surfing and traveling, and his biggest goals are around making a real tangible impact on people's lives. 

Resource Links

➥ Buying Online Businesses Website - https://buyingonlinebusinesses.com

➥ Download the Due Diligence Framework - https://buyingonlinebusinesses.com/freeresources/

➥ Get 1-1 voice note coaching with Jaryd - https://app.coachvox.com/profile/jaryd-krause

➥ Sonic Writer (AI Content Generator) - https://bit.ly/3ZjHRPX

➥ Content Scale AI (AI Content Detector) - https://bit.ly/3LlxRBV

➥ Pictory (AI Video Creation) - AI Video - https://bit.ly/40joNkD

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