Empire Flippers Podcast

International expansion is a great way to scale your Amazon business, but many sellers don’t speak the local language of the market they are trying to infiltrate.  To solve this problem, sellers use software like Google Translate to help them translate their existing sales copy, but according to Jana Krekic, this approach often hurts sellers more than it helps them.   Jana is the founder and CEO of YLT Translations, an agency that helps Amazon sellers translate their listings, sales copy, and keyword research to suit various foreign markets. Jana believes that human-based translations help sellers to better navigate the nuances of foreign languages in a way that software cannot.  In this episode, we discuss the language differences that often trip sellers up, the pros and cons of using AI to generate your sales copy, and the international rules and regulations sellers should be aware of. We also discuss the risks and rewards of international expansion, which countries to expand into first, and the steps sellers should take to ensure a smooth transition into foreign marketplaces. According to Jana, “If you want to enter an international Amazon marketplace, the number one thing you should do is market research. That is crucial. After that, you should focus on creating keyword-driven content. The Amazon content rules are less strict in Europe than in the US, so you can use that to your advantage.”  Lastly, Jana shares some insights into Amazon's expansion plans, including the new countries they will be launching marketplaces in, and the opportunities this creates for Amazon sellers around the world.  If you have set your sights on global expansion, then listen in to this conversation to find out how to conquer foreign Amazon marketplaces. Topics Discussed in This Episode: The services that YLT Translations offers Amazon sellers (03:22) Jana walks us through her background and entrepreneurial journey so far (05:34) How AI competes with human-based translations (11:13) The opportunities Amazon sellers can tap into by expanding internationally (16:55) Nuances other than languages differences that sellers should be aware of (28:39) International rules and regulations that often trip sellers up (34:14) New Amazon marketplaces that will be opening in the coming year (39:14) The foundation's sellers should have in place before they expand internationally (40:34) Risks sellers should be aware of when moving into foreign FBA marketplaces (44:43) The European countries you should expand into first (48:21) Mentions: Empire Flippers Podcast Empire Flippers Marketplace YLT Translations Helium 10 Data Dive Tools Sit back, grab a coffee, and learn how to adjust your Amazon listings to suit international marketplaces.

It’s been a tough year for the online business industry. Competition remains steep, aggregators are battening down the hatches, and Google algorithm updates continue to plague entrepreneurs.   But Greg Elfrink, the Director of Marketing at Empire Flippers, believes that these challenges hide a plethora of golden opportunities just waiting to be seized by eagle-eyed entrepreneurs.  In this episode, Greg explains how online business owners can build a moat around their businesses to help them ride out the storm and outlast the competition. He discusses how AI will impact marketing and content creation moving forward, and the best way to shield your business from pesky algorithm updates. According to Greg, “The number one thing you can do to protect your business from Google algorithm updates is to build an audience you retain. So, whether you’re growing an affiliate site or an eCommerce store - build an email list. That is your biggest asset that the algorithms can’t do anything about.” Greg also shares his expert marketing knowledge, revealing the latest clever marketing trick that caught his attention, the bad marketing advice you should avoid, and some quick wins that will take your marketing efforts from good to great. If you're looking for the inside scoop on the current state of the online business industry, then this is the episode for you. We close out the show with an exciting announcement about the future of the podcast, so be sure to listen to the end of the episode! Topics Discussed in This Episode: The events that impacted the online business industry in 2022 (04:24) The opportunities to be found in the doom and gloom (08:17) What the online business landscape looks like for sellers (10:37) How to protect your business from Google algorithm updates (17:56) How AI will impact content creation (22:28) The most recent clever marketing strategy that caught Greg’s attention (27:20) The challenges online entrepreneurs are facing at the moment (30:20) The quick marketing wins business owners can use to move the needle (33:54) Bad marketing advice you should avoid (38:23) An exciting change to The Opportunity podcast (48:28) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Descript SparkToro Affiliate World Conferences Sit back, grab a coffee, and learn about the latest industry opportunities you can take advantage of!

On the surface, discounts may seem like a great way to boost sales, but over time they erode your profits and can have a negative effect on consumers’ perception of your brand. So, if not discounts, what tool can you use to entice consumers to increase their average spend? Andrew Forman believes donations are the ideal incentive. Andrew is the founder and CEO of Givz, a tool that gives eCommerce sellers instant access to hundreds of different charitable donation incentives without the endless red tape and paperwork.  In this episode, Andrew explains how replacing discounts with donations increases conversion rates and boosts average order value. It also enhances customer loyalty by helping brands to be more authentic and socially conscious. According to Andrew,   “Discounts hurt growth and come straight off your bottom line. More importantly, you run the risk of becoming known as a “discount brand” or becoming reliant on discounts to drive sales. Alternatively, donation incentives help to increase your average order value and drive social impact in a genuine and authentic way.” Andrew shares insights into the challenges brands previously faced when partnering with charitable organizations and how this inspired him to create Givz. We also discuss how the growing demand for social impact will affect the future of eCommerce, and the various tools and techniques brands can use to meet this demand.  If you want to learn how to bounce back from your discount dependency, then this is a conversation you can afford to miss out on! Topics Discussed in This Episode: Andrew walks us through his entrepreneurial journey so far (02:36) What inspired Andrew to create Givz (06:23) Andrew explains the service that Givz provides (08:17) How Givz helps businesses increase engagement, ROI, and more (16:57) The “discount drug” and why brands should move away from discounts (21:39) Various ways eCommerce brands can be more socially conscious (23:50) How the growing demand for social impact will affect the future of eCommerce (25:45) The advice Andrew wished he had when starting out as an entrepreneur (27:46) How creating Givz has changed Andrew’s life (33:25) Real-world examples of how Givz has benefited businesses (38:39) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Givz Inveterate Sit back, grab a coffee, and learn how to attract new sales and increase your bottom line through the use of donation incentives!

Online businesses are a great investment, but many people haven’t been able to cash in on this opportunity because they lack the time or skills needed to effectively manage an online business. The creation of Empire Flippers Capital provided a solution to this problem, allowing investors to buy fractional shares of online businesses and gain access to this unique asset class without any of the work associated with running a business.  Now, EF Capital is offering you a one-time opportunity to own a piece of EFC itself and benefit from the company’s first-mover advantage. In this episode, Mike Vranjkovic, the Managing Partner of Empire Flippers Capital, joins us to discuss the rise of the online business industry, what makes it such a powerful asset class, and the inspiration behind the creation of EF Capital. According to Mike, “Our goal is to make online businesses an accessible asset class for individual investors. Empire Flippers Capital gives you online business exposure without the need for a specialized skill set, you don’t need to spend time running the business, and it’s an easy way to build a diversified portfolio.” Mike also discusses why EF Capital is splitting from Empire Flippers, how EFC plans to spend the growth capital raised, and the rewards investors can expect to receive from investing in EFC directly. After you’ve listened to the podcast, check out this webinar where Mike and Empire Flippers co-founder Justin Cooke dive deeper into the EF Capital story and the details of the direct raise. Topics Discussed in This Episode: How the online business industry has changed over the last few years (05:51) Empire Flippers Capital explained (08:30) The benefits of investing in online businesses over other asset classes (09:09) The barriers to entry that EF Capital seeks to remove for investors and entrepreneurs (12:39) The results achieved from EFC’s first three rounds of investments (16:36) How long investors will have to wait before seeing a return on their investment (19:09) Why EF Capital is splitting from Empire Flippers (21:56) The risks and rewards of investing in Empire Flippers Capital (28:11) Details of the raise and how EFC aims to spend the growth capital raised (31:47) The type of investors that would benefit from this investment (40:04) The effect EF Capital may have on the online business industry moving forward (43:26) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Empire Flippers Capital Direct Raise Investor Interest Form Direct Raise Deal Page Direct Raise Sales Presentation Operator Interest Form EFC Investor Relations Call Link Sit back, grab a coffee, and learn how you can own a piece of EF Capital and profit from its future growth!

How would you like to make money from buying and selling online businesses without having to purchase or operate an online business of your own? This exciting prospect is now within your reach thanks to the launch of the Empire Flippers referral program. By becoming a referral partner, you can earn 20% of our commission by referring businesses that are then successfully bought or sold on the Empire Flippers marketplace. Having spearheaded the creation of the referral program, Jim Barton, the Partnerships Manager at Empire Flippers, joins us to explain the many opportunities that the referral program offers to interested entrepreneurs.  Jim provides a step-by-step guide on the different types of referrals, how referrals partners are paid, what the process of making a referral actually looks like, and the qualities we look for in a good referral. Jim explains, “The Empire Flippers referral program works in two ways. We have seller referrals where you refer somebody who wants to sell their business and buy-side referrals where you refer somebody who wants to purchase a business.  As a referral partner, you will get paid for everything your referral does with us from our two-year cookie, meaning if they buy or sell multiple businesses, you would collect referral commission on all of those.” Jim also gives us a peek behind the curtain of what it takes to create a referral program from scratch, and shares stories of the enormous success the entrepreneurs who joined our pilot program have already experienced. Whether you’re looking for a way to diversify your income, cash in on your large professional network, or leverage the traffic coming to your site, listen closely because this episode will tell you everything you need to know about the Empire Flippers referral program. Topics Discussed in This Episode: Jim walks us through how he ended up running the referral program (03:52) The motivation behind starting the Empire Flippers referral program (06:15) How our referral program differs from affiliate contracts and other payout projects (07:51) The nuts and bolts of how the Empire Flippers referral program works (11:15) The process of making a successful referral (13:08) What does, and does not, qualify as a valid referral (16:32) The different kinds of people who could benefit from the referral program (18:40) The various tools available to referral partners to track their referrals (24:16) The benefits of using the Empire Flippers referral program (27:04) The success stories Jim has already witnessed from the referral program (28:56) Jim describes his experience starting a referral program from scratch (33:23) Mentions: Empire Flippers Podcast Empire Flippers Marketplace Sign up for the Empire Flippers referral program Sit back, grab a coffee, and discover the many advantages of Empire Flippers’ groundbreaking new referral program!

The online business world is notoriously fast-paced, so it’s often difficult for digital entrepreneurs to stay up-to-date on industry trends. We hear phrases like “supply chain crisis” and “Amazon product launch changes” mentioned in the news, but how will these industry changes affect you?   Our very own Greg Elfrink, the Empire Flippers’ Director of Marketing, has the answers you’re looking for! After having deeply immersed himself in the online business world for the past 5 years, Greg knows the ins and outs of the online business world.  Greg joins us to discuss the positives and negatives of the current state of the industry and why sellers need to pay attention to the market. He walks us through the impact that the looming supply chain crisis could have on e-commerce businesses and the best ways for buyers and sellers to navigate the tough times ahead.  Greg explains why the market is perfect for exits, and how sellers can get a jump on their competition by cutting the queue and selling their businesses before the new year.

"With stocks, you could be looking at a 10-12% ROI, whereas with websites you could be looking at 100% returns year-over-year." This is just one of the many golden nuggets you'll hear from this episode with Lucas Carlson, a programmer who managed to raise $10 million in VC funding for a business idea, sell it to a Fortune 150 company, and turned the windfall into a lifelong cashflow. This time, Joe and I check in with Sarah and Branden who spoke with Lucas who shares how he invested the capital into building an online business portfolio that could sustain him for many years. By tuning in, you'll hear some really smart tips on what you could do if you're thinking about selling or have recently sold your business for life-changing money and want to put the money into an investment vehicle that will keep generating income. Speaking of building life-changing money, our featured listing is a dropshipping business in the entertainment niche. A "business in a box", the business comes with a large social media following and it's easy to pick up to learn how to run.

The industry of online businesses is still a growing niche. We hear a lot of people who want a piece of this pie as well. Joe and I are joined by Mike Vranjkovic to explain what the EF Capital program is, how it works, and how you can participate. The program was born in 2014 over discussions about an age old problem where skilled entrepreneurs don't have the capital to buy bigger listings, and investors don't want to buy an entire business or learn a brand new skill set. In a nutshell, the program helps investors turn an active investment into a passive one by partnering them with operators who will help manage acquisitions. And the program helps operators gain leverage in buying online businesses that aren't available through traditional financing (like SBA loans) without having to learn new skills like investor relations and how to set up an investment fund. Instead, operators stick to what they know best - fixing and scaling digital assets. If you're looking to buy an online business to replace your job, check out our featured listing. It's an Amazon FBA business created in April 2017 that sells specialty shoe products. It's a job replacement for income (earning ~$10,000 each month in profit) and time as well, since the seller only needs 2 hours each week to run it.

Ever feel a deal's going south with every word that comes out of a buyer's mouth? Usually, your gut instinct is on the money. Bullshit buyers are a seller's worst nightmare. While you were entertaining a buyer who made all the right noises at first and turned out to be a dud, you might have missed out on speaking to an actually qualified buyer. Joe and I wanted to share common tips and tricks these types of shady characters use so you can avoid unnecessary heartache. Our featured listing in this episode is for an Amazon Associates and affiliate business that has a well-established domain, a good backlink profile, requires minimal effort to maintain, and has diversified earnings. It could be a really good purchase for someone who wants to focus on building just one brand instead of managing lots of different businesses.

It's been a good year for us at Empire Flippers, even in the midst of this pandemic. Our industry keeps growing and the proof is in the pudding—we have over $1 billion in verified proof of funds from buyers on our marketplace.  That's why in this episode, Joe and I really wanted to shared some great negotiation tactics that all buyers can use when finding the right deal for them. We'll talk about why and how you should consider a seller's emotional equity in a deal, managing expectations so you can agree on a sales price everyone's happy with, and how to set your buying strategy depending on the types of deals you're going after. Our featured listing in this episode is for an Amazon FBA business that's had strong year-on-year growth and doesn't need much effort to maintain right now. It's ideal for a one-man band type of operation, and there's room for diversity outside of Amazon while having plenty of avenues to explore within Amazon too: a great option for someone who's looking for a hands-off business that pulls in a healthy amount of income while having lots of opportunity to grow. There are tons of helpful and exclusive tips, so tune in and take notes!

Who doesn't love a good deal? But for online businesses, a great deal doesn't always mean buying at the lowest price. In this episode, Joe and I talk about what a great deal looks like when you're shopping for a digital asset in 2020. We'll talk about what value looks like and discuss some of the practical things to look out for when you're doing your due diligence, like how many hours you actually need to manage the business, and why you shouldn't go into an uncomfortable niche even if it has loads of potential. Our featured listing in this episode is for an Amazon FBA business that ticks a lot of these boxes for value. It's not a business we normally list on our marketplace, but there's a lot of opportunity for the right buyer - it's well-balanced, has multi-channel revenue, and could be a great deal for you.

It seems the best way to take down fake gurus is by pulling the curtain down and revealing exactly what they're offering. That's why in this episode, Joe and I are really excited to speak with Mike Winnet from The Contrepreneur Formula where we discover how he got into the business of calling out contrepreneurs online - you might know some names like Grant Cardone, Dan Pena, and Gary Vee. We appreciate it's easier to criticize fake gurus instead of giving constructive criticism, which is why Mike's perspective is interesting given his entrepreneurial background that provides the foundation behind recognizing deals that seem too good to be true. Our featured listing in this episode is for an Amazon Associates business that provides electronic reviews and compares and contrasts products. Traffic is mostly organic, and it's worth noting that declining traffic could be a great opportunity for a buyer to pick up and grow the business.

While 2020 has been a rough year around the world, our industry has been booming. We're seeing a lot of activity from partners and groups looking to snap up 6-, 7-, and 8- figure digital assets. In this episode, Joe and I dive into what the selection criteria for these deep-pocketed groups look like, how they negotiate deals, and what are their ultimate long-term plays. We also cover why brokers are key in these types of deals and how sellers can benefit from listing on our marketplace. Stay tuned for two featured listings this week. Both are in the technology niche providing a special type of internet service in different geographic regions, and are potentially great deals for groups looking to buy a business providing a full-time income instead of a full-time job.

If you send me a few laptops I'll wire $50,000 to your account tomorrow..." By now we're all familiar with online scams that appeal to our emotions or a path to get rich with a "small" investment. What if Instead of ignoring or trolling scammers, there was a more wholesome way of dealing with these types of emails? In this episode, Joe and I talk with Ben Taylor, the man behind the Youtube channel Pleasant Green, who's mission is to identify scams and find ways to help online scammers financially without having to rely on these schemes. We'll cover what types of scams exist with online businesses, how Ben dealt with these, and how he saw that was a genuine deeper need behind these scams so he could turn these encounters into positive opportunities. We'll also talk about a solid business that's for sale with lots of diversification in traffic and revenue sources that makes just under $50k in monthly net profit and suits people looking for a really profitable online business without the need to grow one from scratch.

This is a departure from our regular episodes where we talk about buying and selling online businesses, the overall industry, and entrepreneurship in general.  Today I talk with Michael Erickson from digital marketing agency Search Scientists about how political operatives use Facebook and other major online platforms to manipulate the vote. We cover what were some of the old school ways that elections could have been manipulated pre-Internet, how big data is used to drive voters towards your candidate (and away from the opposition), and how these tactics might be used in Small Town, USA. No featured listings or updates for this episode, we'll be back with that on the next one. I hope this serves as a warning to anyone who's missed the looming danger of these platforms being used as a tool to manipulate elections.