Why did I buy Soundviz?
Not sure if I say this to my future self or to my kids, but my goal has always been about building an Online Asset Portfolio. The Ultimate dream is to have enough sites generating Passive Income.
By Online Asset PortfolioI mean websites that are generating Revenues through those 3 channels (in order of preference):
- Print on Demand eCommerce;
- Affiliation Marketing sites (not Drop-shipping);
- eCommerce with Inventory.
I do NOT go for Drop-shipping websites as I believe its Profit Margin is way too low (15–20% gross profit at best). To advertise correctly and provide a value-added service (online chat + information content), I do need 50%+. To get 50%+, I clearly need my Balance Sheet to get the Inventory upfront. I usually can ease the risk using Payment Terms.
I purchased Soundviz.com through a well established Website/Business broker named FE International. Their value-added are:
- the Audit/Control of the site Financials;
- the escrow management of the transaction;
- The insurance that the Buyer has enough cash to proceed.
So far with FE International, I only have been a Buyer. Nowhere in my personal Strategy is about Exit; I’d rather build for long-term revenues.
So will I give up on Online Business Projects?
No, I will NOT give up on running and participating into Online Shopping projects. This is the best way to keep up with the industry as you can learn a lot from your clients. Stakeholders from customers like the Trusted Family Office Platform and UVmastercare UVC Covid Decontamination, have a lot of experiences that can help make better choices on future investments.
Adding the Soundviz Sound wave Generator to our Portfolio has forced us to learn new skills as well as understanding new conversion. The Soundviz founders, Tyler and Chelsea Davis, have built an almost fully automated Marketing Automation system. They also used all the state of the art tools for managing a Website project.
In the meantime
In the meantime, we are continuing to build more Assets, mainly in the Food Ingredients Business.
If you too want to grow your Online Asset Portfolio, you should be starting your website now. There is no excuse your eCommerce shop is not yet online: get a Domain name, a Hosting and install a Wordpress instance. You’ll deal with the doubts later. Pace is the key.
