Zero To Travel Podcast

Jared Kraus 0:00
Because on the road a lot of people are like Well Hang on dude what like wait you own three businesses and you don't you know, you only do a few hours of work per day or per week or whatever it is and like you can travel for as long as you want. And there's so many people that wanted to do that. And that's where I was like I want to help.

Jason Moore 0:17
That's a clip from my interview today with Jared Kraus his expertise is helping you by existing location independent businesses you know, on this show, we're all about filling your your arsenal, your travel tool belt with as many different ways that you may be able to sustain or extend your travels. And this is one of them that we haven't covered we dive deep into this topic of buying an existing business who is it right for what types of businesses should beginners buy? We talk about the pros and cons all the legal stuff, of course, how it plays in with your travels, which is what makes this whole podcast different. Because I'm guessing the reason why you would even consider this as an option is to help fuel your travel lifestyle. Right so what are the best types of websites to buy? How do you do due diligence? All of the research a lot of questions here a lot covered and Jared really does a great job breaking it down for us I know you're gonna love of course, we talked about his travel lifestyle as well how traveled transformed him as an individual. And his journey from working as a plumber and coming home saving money using that money to travel coming home again, working saving money, how he went from from that version of traveling the world to taking his show on the road full time. A lot packed into this interview. I know you're gonna love it. Plus, we got a shout out to somebody in the community here. Who is taking the leap. That was the subject of the email, college student taking the leap. I want to share his story and the advice I gave him in the email back all that and much more happening right now. So buckle up strap in. Thanks for being here. And welcome to the zero to travel podcast, my friend.

ad 2:07
You're listening to the zero to travel Podcast where we explore exciting travel based work, lifestyle and business opportunities helping you to achieve your wildest travel dreams. Now your host World wonder and travel junkie Jason Moore

Jason Moore 2:25
Hey, what's up? It's Jason with zero travel.com Welcome to the show. Thanks for hanging out. Let me bring a little travel into your ears today. This is the show to help you travel the world on your terms to fill your life with as much travel as you desire no matter what your situation or experience. How are you today my friend hope all's well with you sun is shining here in Oslo as I record this and I'm looking at a couple of my mementos here in my office. Do you keep any travel momentos I've got some magnets, I've got a momenta here, my office that's always brings me back to another sunny place sunny Colorado where I lived for awhile, I've got my old license plate from my old car. And I don't know, it's crazy how sometimes these objects can just teleport you. I see them every day. And I don't think about them often. And today. I was doing some stretching and some yoga and I looked over and I started looking at all the magnets and thinking oh, I remember being there. I remember the air there. I remember how that meal smelled. I remember walking around that little part of the downtown and buying that souvenir at the trinket shop and then going and climbing that mountain. I remember these things because I just happened to notice this object today. Even though it's there every day and I barely ever notice it. Kind of crazy. weird like that. Anyway, wonder what object now you're going to notice today that's going to bring back a travel memory. I always like to remind you before we dive into the show, please get in touch Jason at zero to travel.com is my email. I've got a place where you can leave a voicemail very easily. There's a link to that in every one of the show notes. And as you know this is a community powered show. I love to make this a two way conversation. Get your guests recommendations, check it and say hi if you haven't done so I've got a shout out to share with you today from a college student who's taking the leap first if you're as obsessed with food as I am then you're gonna love this sponsor food lovers meet the US Bank altitude go Visa Signature card with this credit card you'll get four times the points on restaurant deliveries takeout orders, and dine in brunches lunches or dinners plus altitude go gets you two times points on groceries. Yes even delivery streaming services and gas or Eevee charging station pitstops visit us bank.com/altitude Go to apply and learn how you can earn 20,000 bonus points you deserve have a credit card that gives you more and more and more you deserve altitude go. Nerd wallets 2022 Best of awards winner for best credit card for dining benefits apply to become an altitude go card holder at us bank.com/altitude. Go. The creditor and issuer of this card is US Bank National Association pursuant to a license from visa USA Inc. Some restrictions may apply. Now this email I got is from Nicholas and I'm going to share the advice I gave him in my email back but he said, as a full time student pursuing a double degree travel is definitely something that can be difficult to do. But I've saved every spare sense I could find since last spring and recently just signed on the dotted line committing myself to a study abroad program this summer. I haven't even left the country yet. But thus far, this process has taught me a lot about budgeting and planning for travel. There are just a few more logistical things I'm trying to figure out. But I'll be spending about five weeks in Spain, checking out a few major cities and I cannot wait hope all's well within your family and you're staying safe. On your travels. Nicholas, congratulations, Nicholas. College student taking the leap was the subject headed there. I love that. And yeah, I did send him some advice. Although he is going to study abroad it will be very difficult to not bring a computer but I'd say if you can stay off your smartphone as much as possible. I mean, five weeks that's it, give yourself some space to breathe, get away from the devices. That was my, my advice to him and Spain really resonates with me because that was the first place I landed on my very first solo backpacking trip. So you're gonna hit the ground running, you're gonna love and Nicholas, congratulations on kickstarting your life of travel this summer. Now, let's slip and slide into the interview segment. Enjoy my chat with Jared stick around on the back end. I'll leave you with a quote and some thoughts on the interview. I'll see you then. Thanks for listening and enjoy the conversation.

My guest today is the founder of buying online businesses.com where he helps people learn how to successfully buy an existing business so they can have more freedom. His mission is to teach 1000 people how to replace their income, quit their job and live a lifestyle they absolutely love. Of course, we'd love that here on the show as well. Today, we're gonna dive into how to buy an online business, dissect the pros and cons and help you figure out if this might be a good fit for you Jared Krause, welcome to the zero to travel podcast, my friend.

Jared Kraus 7:37
Thank you so much, Jason, glad to be here.

Jason Moore 7:41
lovely to have you here. And we will, of course include all the links that we mentioned here in the show notes. But for you, it sounds like travel was a big driver for everything you're doing right now I might be wrong. But after kind of reading through your about page and getting into who chair it is I wanted to start there. Because, you know, I think nowadays especially more than ever, although it seems obvious on the surface, lifestyle is a big driving force for what people choose to do. Right. And I think in the past, there was more sort of acceptance of like, well, this is kind of what we have to do and get into the 95 and all this stuff. And now, there's been a bit of an awakening with a great resignation and everything like that. And people are just kind of fed up, and they want to pick something that matches their lifestyle. And what you teach is an interesting angle that we haven't really covered on the show, we're gonna get into all that. But yeah, for you, we'll talk about what travel means to you in your life.

Jared Kraus 8:40
Travel has shaped my life. In so many ways. I have done I've built my businesses and built my lifestyle around travel and independence, not just like financial independence, but my main goal was to I remember having goals like I just want to make $1,000 per month online. That was my goal. And I thought you know, if I could do that I could live pretty cheaply on the road. And I could just keep doing this for you know, for as long as I needed. So I was at the skate park today and having a break lunch break. And I bumped into another guy who started a business and he sold his business. He did quite well through the sale and he's just traveling around enjoying himself got his money invested in different areas. And we sounds like we're both cut from the same cloth. Like we've just definitely shaped our lives so he can travel. And I was also telling him that, you know, I spent a seven year period that I spent about four and a half years overseas, just traveling I'd take you know a six month trip, I'd take a year trip or take a year and a half trip and in between these trips. I would go back to work and then work for six months and then quit and then go travel and that's that's what led me to go Alright, I'm done with this plumbing thing right like realize how good it is to travel and have a good lifestyle. There's ways that people are making money. And I just typed into Google how to travel the world and make money online. And that's kind of what started that. And that has been my biggest. That's my biggest purpose. My biggest reason why is like, My life goal is not become a bazillionaire. And I don't want to do the hours that somebody would have to do to run a nine figure to 10 for your business. And I think my y know that my goal is less stress and less stress means less work, and more fun. And that's what travel is. Right. That's, that's how I've shaped how I like to live.

Jason Moore 10:43
Where did you grow up?

Jared Kraus 10:45
I grew up on the Gold Coast in Australia.

Jason Moore 10:48
So you were that Australian? Travel around for years? Yeah, going back and forth. That was me because you always meet the Australians and the hospitals and yes, there's always you got to have you got to have the token Australian with you out there. When you got a beard or something. There's there's always one of them around

Jared Kraus 11:04
and everyone everyone's like, everyone, when you're on the road? Or when you're in a hostile everyone's like this, like, Are there any even even any Australians left in Australia? Just you guys it rolls old traveling? Right? That's the common law that out here?

Jason Moore 11:18
Well, I bring that up, because it is part of the Australian culture, I feel more so than than the US right? Isn't? Isn't that so to take off and travel for months? or years? is kind of an accepted thing? Is it not? You've told me?

Jared Kraus 11:31
Yeah, it's, it's a part of your maturity, I guess of growing up, like when you finish school, go travel, or, you know, do University and then travel. And, or even do it in between, like, it's, it's a pretty normal path, and most people to take, I think, I'd be surprised if most people around my age and even you know, going through school now and wanting to travel, wouldn't have spent a three month period three to six month period overseas, that at any stage in there, you know, between 18 to 30, I doubt there would be many people that wouldn't have done that. In Australia. Whereas I think in the US, it is a bit different lists as a big list, like 70% of US citizens don't have a passport or something, something staggering like that. But I guess it's also because the media and the media can tell us like It's dangerous out there. Like, you know, if you go to Central America, it's super dangerous, like, and a lot of other places. Whereas maybe it's not as dangerous as it is received. For example, in 2012. I went and lived in Egypt for six months to become a divemaster. And this is when the Muslim Brotherhood revolution was going on. And I didn't I don't really follow the news. And people like you can't just move to Egypt right now, like you You will die is that's a certainty like you It's you can't just move to Egypt. But that was just one little part of Egypt that that was going on. And I was I was totally fine. So yeah, yeah.

Jason Moore 13:16
So even in the culture that supports long term travel, there's still that element of it, of it right working against you or working against people kind of the the world's a dangerous place. Media perception.

Jared Kraus 13:28
Yeah, I think that's I think that medium is set because I've lived in the States as well. I think that's more so in the States than in Australia. Of course, you get it everywhere. But I think it's just portrayed a bit harder. In the US. And in Australia, you get it as well, like my mom's like, oh, you you got to be careful and check in all the time and all that sort of stuff like these. It's common fears. But I think I think it's, it's just pretty common that most people in Australia have had that stint of travel before they really go into family life or heavy career life, or whatever route they choose from, you know, 25 onwards, I guess.

Jason Moore 14:07
You were working as a plumber in between? Is that what you said? Were you running your own shop? Or were you working for somebody when you'd come back? How did that all work

Jared Kraus 14:15
out? Yeah, so do my apprenticeship. And then I lost my job because the they went bankrupt. And then I got a job with another company. And I would just quit that company. And then I'd go travel and then come back. And at one stage, I think it was after two, two big trips, I came back because like, I want to work for myself, like I wanted that freedom to be able to, you know, work my own hours. And I tried to start my own gas company, and there was just not enough jobs, gas jobs around for me to get work to do that, let alone start my own business. So I went back to that company, and yeah, I just kept working for them. And they would just take me back when, when I would when I'd come when I would come back, you know. So that was I'm pretty grateful for that.

Jason Moore 14:57
So you're back in Australia right now. all correct. And yeah, what? What brought you back there? I mean, I know when you get out and travel the world for many years like you have done you see a lot of places I'm sure you considered living in some of them, maybe you're still considering living in some of them. Why? Why are you back home?

Jared Kraus 15:15
Yeah, that's a good question. I like literally for those that big portion of time that I was traveling, I was looking for, like, where do I want to live like, like, and, um, one of my last bigger trips, I did a year and a half overseas by myself, for three months in, in Vietnam road from the South Vietnam to the north of Vietnam, then I went over to Central America stay there. And then South America for the rest of that year and a half, as you know, like, you meet friends on the road, right? Like, everybody knows, you make friends on the road, you know, somebody in the hostel is going to the same place you're going you catch the same bus, you make friends, and then you do the same activities in that next place you stay, even share a room with them, whatever it is, and you make awesome, you know, and that connection that you make with those people as well, because you're doing all these crazy experiences is really, really tight. But still, I felt I felt lonely, like meeting friends, you know, saying goodbye to friends. And over a long period of time, I kind of felt lonely. And I wanted to come back to Australia, because I had this burning desire to work on this business, this buying online business, buying businesses or buying online businesses business, the tongue twister, because on the road, a lot of people like Well hang on, dude, what like, wait, you you own three businesses, and you don't, you know, you only do a few hours of work per day, or per week, or whatever it is, and like you can travel for as long as you want. And there was so many people that wanted to do that. And that's where I was like, I want to help these people. And so I came back to Australia, and I knuckle down for about a year and a half, two years and really built that up. And then wanted to start traveling again, I did a trip did one trip two month trip with my partner over to Europe that I met in that time, two year period, and then Caronia and we've been landlocked in Australia for two years, basically, it's actually has just recently opened up for people that are vaccinated. So yeah,

Jason Moore 17:13
yeah. Cool. I have more travel related questions around solo travel and destinations and things. I think I think I'm gonna like, what do you say put a pin in it? Is that what they say now?

Jared Kraus 17:23
Bookmark and whatever. Yeah. A virtual pin.

Jason Moore 17:27
Gosh, gagging just saying that. Because we have a lot to cover with what you're teaching and what you do. But I did have one more question that's related to the work and travel thing. I think it's a good segue. How far in your travels are trying to understand the chronology Did you stop doing like coming back and working as a plumber and start doing your own thing, because I'm wondering if like, the balance that you were trying to find traveling and working was also a factor for going and settling down because I know it can be very difficult on the surface. It all looks great on Instagram, but it's not so

Jared Kraus 18:00
easy. It's not, it's actually really tiring when you go, Alright, I'm gonna spend a week here and do all of the activities, and then get a train or a plane and try and sleep that probably can't and then go the next place to do it all again. I was fortunate enough that I wasn't stressed with money. I had some businesses at the time. And I would just plunk myself in a place for a period of months. Right? I'd stay three months.

Jason Moore 18:26
So you started slow traveling when you had your own businesses? Yeah. So then the raw

Jared Kraus 18:31
files traveling Correct. Yeah. To answer your question around the timeframe when I sort of stopped work, and then did the travel with the businesses in at the end of 2013. started 2014 I started a travel blog tried to make that work. That was I struggled. And then I tried to start an E commerce business, I struggled with that. And then I realized Hang on, like what I buy a business that I saved up for. So I bought one and then bought another one and another one in between and 2014 to basically in 2015 bought three businesses and within like an 18 month timeframe. And then at the end of 2015 or mid 2015 I gave notice to I was running a big job here on the Gold Coast, the shopping center for a plumbing company that that part of the plumbing company for that job. And I said look, I'm gonna leave at the end of the year, I'm, you know, I'm making enough income now to not I want to go traveling do my own thing. And that's when I just did a hard stop at the end of 2015. And then 2016 onwards, has been full time on my own, I guess with business and travel.

Jason Moore 19:39
Yeah. And going to the skate park in the middle of the day.

Jared Kraus 19:41
Yeah, well, that's nice to have today. So yeah.

Jason Moore 19:45
You're a surfer and a skater that is that your, your sort of your main

Jared Kraus 19:49
I'm not really a I wouldn't classify myself as a skater. Because I'm only skateboarding to get better at surfing. I'm I'm totally obsessed with surfing and a lot of my travel was around surfing And just like a year ago, I got a surf coach and told me to get a skateboard and practice some of my maneuvers in the skate park. So cool. So

Jason Moore 20:07
now that's we How far do you live from the beach?

Jared Kraus 20:11
A two minute walk? Well, well, I'm gonna walk. Yeah.

Jason Moore 20:14
Is that a futon behind you? I might be taking that over at Yeah, man come on time. Yeah, there you go. Again, like, we are gonna circle back to some more travel stuff. Because you have so much travel experience, I always think it's a beautiful thing when, you know, you got so passionate about the businesses. And my my hunch is that, you know, it's like, you got to have all those travel experiences for years and years. So at some point you didn't, you know, not that you exhausted it because you love travel. But it's like you had it, you know, you can always have more, but that's a much better position to be in to stop and then run businesses then not having, you know, trying to like make the businesses work. So you can have that travel experience. So this is a, this is a chicken and egg thing, I think for some people, and we can start here because and this is why I think buying online businesses can really be an effective thing, if if it's the right fit for you, because you're instantaneously taking over a business as opposed to not that there aren't going to be struggles. But you know, building a business is hard. So, you know, is that something you want to kind of combine with your travels? Or do you want to keep those things separate? This is a very subjective thing. I like you had the experience early on where I saved, I would save money working, and then I would go travel. And I thought that was such a wonderful way to see the world, especially in hindsight, because I didn't have to like stop and send emails and do all these other things and try to find a balance. I just got to be in the world and enjoy it. So you want to talk about what advice you give to somebody who is asking about that, hey, like, should I start a business while I'm traveling? Should I just save up money and go?

Jared Kraus 21:52
Look, it's a really tough one. Like, I guess it depends on where they're at. In terms of what they want, you know, like, do they do they have this burning desire that like, I need to leave my job right now. My advice is to tell people like don't leave a job until you've got an income to sort of cover your expenses. And then it's definitely going to make you know, traveling a bit easier. Yeah, you might have to do some work. But you can hire people, you know, that help with that sort of stuff as well, then then the management that comes in, but it's a tricky one each person's individual where they're at, it's going to change the answer for each one. So yeah, I like your I like what you said around like, You got to just quit and you didn't, you just got to fully, wholeheartedly experience the places that you're at, because you didn't have a little bit of time, or focus somewhere else. That's what helped me with by these longer term stays like three months in a place that really allowed me to go cool, I might just do like, five days of heavy work, and then do two days, two weeks of nothing, right. And just some maintenance stuff like you know, five minutes in the morning, 10 minutes in the morning each place. That's the advice that I'd give to somebody that wants to travel, like if get yourself to the point that you can cover your expenses and travel. And then don't try and rush everything enjoy each place. And then you will do better work as well, because you won't be as tired when it comes to work time on those businesses on the road.

Jason Moore 23:32
Yeah, cool. I think the mental focus that you mentioned, too, is a big part of that, right? It's like if you, if you're untethered, and away from a business or responsibilities, you have a different mindset, because you may be what just depends on how your mind is working, right, you may be worrying about the next thing you're doing, or you may be fully immersed in the travel experience. And that's where like, mindset comes into play so much. You know, I think people sometimes gloss over mindset or that that can be the tendency like the importance of mindset, right? You can be like, well, you know, those aren't really practical tips for building a business. It's just your mindset. Come on, let's get past the fluff. And it's like, Well, no. Mindset is kind of everything. It's like how you're interpreting the world and it is your reality. So a mindset something I want to talk about related to buying an online business, first of all, especially for somebody that's never done it before, you want to speak to some of those common fears. And maybe you can give us some sort of tips or just reality with your experience around what that really is, you know, are those fears justified? You know, how do we kind of overcome those things so we can look at this as a viable option?

Jared Kraus 24:42
Yeah, great, great question. Before is that when it comes to mindset, and you know, you just get to the real stuff this is you know, people may think this is fluff with the mindset the the biggest hurdle the biggest obstacle that's holding us back in any area of our life, including business is our mind. Sit anyway. So that's like the number one thing like, that's the bottleneck usually, like, if we can remove our stuff, and how we think about stuff out of the way, then then we can get the growth or, you know, resolution to what we're trying to do. But in terms of like those fears that people might have about buying a business. One common one is like, why would somebody if the business is perfectly good? And it's making money? Why would somebody sell it? Right? Like? That's a great question. It's, I got this, I had a friend of mine, I met in the surf, and he's like, I want to buy a business he got on my podcast that listening to stuff and I've been helping him a little bit. And he asked me this, he took me out to a cafe for lunch for brekkie. The other day, he's like, why would somebody Jared bought like sell their businesses? Is that good? Like, seriously? And I said, that's an awesome question. Like, it's, it's the most common question that I do get. And you got to look at it through the lens of the person that owns the business. Everybody has different stages in their life, for example. Well, before we go through those different phases, yes, it is valid to be scared of buying a business and have that fear, because yeah, they may be selling something and is going downhill. Right? It is going backwards, and it's a crappy business. So you do need to know how to do due diligence, you do need to be able to see that and identify that. So it's a perfectly valid fear, for sure. Although the reason people do so great businesses for many reasons, for example, if I get sick of living in one place, but I've got an amazing house, I'm not selling the house, because it's not amazing. I'm leaving, because I have different desires that I want to do. And I have different goals, or I want to live in a different place. Same with people that have a really good business, maybe they've run the business for 10 years. And like, look, my heart is a great business, it works runs really well. But my heart's not in it. And I don't want to have that business decay because of myself and my heart not being in it. And then you've got reasons for people like hey, I need to sell my business so I can get some money. So I can actually buy a house and not rent or I can pay for a medical bill that may have happened. There was a there was a case that a university student had a birdcage business that he wanted to sell. And I said, Why are you selling it, then he's like, I need to, I need to go to, I need to go to uni, and I need to pay for this medical thing. So there's two reasons he needed the money. So there's multiple reasons that people will sell, need the money, it could be a good business, the hats on in the business could be failing, of course. And then also, on top of that, people may have grown the business to a certain level, and they can't get any further ahead. Like they've had, they've hit a glass ceiling because they don't have the skill set to grow in the next area or to go from x amount to Y amount, or whatever it is. So there's a reason people like to sell their businesses as well.

Jason Moore 27:58
That's a great breakdown. And I like the real estate analogy makes loads of sense. Let's start at the top here. Me Why should people buy a website instead of starting their own and doing that whole thing? And I like your tagline, by the way in your website, changing lives one website at a time. Thanks. So yeah, I mean, I guess that's the very top line, right? Like, yeah, who is this right for? Why should people even consider this?

Jared Kraus 28:28
First thing that I say to people is like, starting a business is like we already said it, you've already set up starting businesses, so freaking hard, like 90% of all startups fail. That's an SBA stat, you know, from that from the SBA in America 90% of all startups fail. I believe there's, there's one really good reason to start a business. And and the other reasons are mostly to the buyer, one. The people that the only people that I believe my opinion should start an online business are the people that have a product, or service or a solution to a problem that the world doesn't have yet. And that they're so insanely passionate about it, that they're prepared to spend 10 years or more, pushing this thing up at a crazy RTL and struggling and fighting and trying to get at work trying to get it to work. Because that's what a startup is. It's really, really, really hard. So if you're super passionate about an industry and a product and solution that the world needs, and you can back it and you've got the gusto, the energy and probably the resources to do so. Or you can get the resources to do so. Then start a business but every other reason, I'd say which is mostly I want time freedom. I want money. I just want to earn an income online. If your goal is only goal is to make You can income online, or your goal is to make an income online so you can travel, you know, spend more time with your friends and family and stuff like that. I believe it's best to buy a business, because then you can buy something as past that 90% startup failure rate. What a business, what is the business, the business is a system that produces a result, right, that provides an income stream a profit, it's really hard to build a system that does that, right? That's why so many people fail. So you can just go and buy one of those systems buy a business, then it's instantly making money. Now, yes, I am biased towards buying businesses, because I've started my own businesses and fail so many times. So many other people have most people come to me and say, Jared, I've tried. I've tried to start so many businesses, and I've failed, right? I had, I've got a member in my mastermind, who joined three months ago. He just bought a business. It's making him like $1,200 a month. And he said for 10 years, Jared, I started every business you could think of. And then within three months of working with me, he bought a business and he's like this first time I'm actually making money. Because it's a focused, focused approach. And you're buying something that's a proven system. Yeah, so that's what is my sort of spiel on or I guess,

Jason Moore 31:20
yeah, and I appreciate you acknowledging the fact that you are biased. Of course, there's a lot of gray area here, right? Like, I'm not, I'm not challenging everything you're saying. But there is something to the 10 year putting up a hill failing thing, because you're acquiring a lot of skills. You're acquiring a lot of new mindsets, and you're doing it if you're doing it in a bootstrap way. You know, it depends on how you look at it, right? You could say, well, I'm saving money, I'm not spending a bunch of front to make a bunch of mistakes, I don't know how to run a business. But at the same time, you're, it's your time. So your your you know, there are just so many ways to look at it. So I just want to hear like, because I do think there's a lot of value in the, the I'm starting a business, I'm trying to figure this all out, going through that process, like the person you mentioned, would they be succeeding at this business they bought if they hadn't gone through, you know, all the failures that they that they went through earlier on, that maybe toughen them up, or made them learn certain things or see that and perhaps it will never know, of course, but this is just one part of the equation where I just kind of wanted to get a little more of your thoughts around that.

Jared Kraus 32:26
Yeah, I think it's, and those are so valid, there's so many, that there's so many gray areas, and there's so many things that you pick up in terms of skills along the path. And the biggest one that we've already talked about is mindset. You know, and overcoming some of the obstacles, you know, you can overcome some small obstacles by starting starting a business. But I just guess it really depends on, that's why I said earlier, like, it depends on what your goal is, like, for a business, you know, like, if it is if you do want to go through an learn to start a business because you know, you're going to go and acquire those skills, and you're going to become a really good entrepreneur, great. Also, there's, you know, so many skills. And this could be a biased view, there's so many skills from the zero to $1,000 per month mark range, zero to $10,000 per month, month mark range, that may not actually apply to going from 10k a month to 50k a month or 100k a month. In a business, you know, and that's a really, you kind of need to reinvent yourself, and you need to sort of reinvent the business to get to those different levels as well. So, the good thing about a startup is like you do learn that it's frickin hard, and it's great. And when you get there, the glory is better. Obviously, it's better than going Hi, here's, you know, here's like 50 grand 40 grand and you buy a website, you're making $1,000 a month. You know, it's easy, it's it's easy, done, like the you don't get the the might the mountain climbing or high achievement sort of thing you do have to do is put some work into finding a business, you know, it may take you three months or six months, and there's a lot of work involved with it. It's not super duper easy. But it's easier than going through like a five year period of like grinding, going nowhere running in circles feeling like you want to give up, you know, multiple times, and then having a lot of little short successes.

Jason Moore 34:29
I hear what you're saying. And I you know, along those lines, I think there is, like you mentioned just going through the process of buying a business if you're gonna go that route. You're obviously going to learn a lot along the way about business through that too. So that's an experience in and of itself, I'm sure.

Jared Kraus 34:46
Yeah, well, a lot of people a lot of people want to just skip the work part and not like the work part is pretty important for mindset. So a lot of people just want me to you know, Jared, tell me Is this a good business? Should I buy it? I'm like, dude, to work, do the due diligence, look at this business and then look at so many I want people to look at so many businesses, because the time they spend looking at multiple businesses makes them a better entrepreneur. Because I've looked at that many businesses, right? So it is valuable the education you have starting a business is valuable, for sure. And going through purchasing on to,

Jason Moore 35:20
well, let's get into the some of the nitty gritty how much websites costs, and how much they can make and where you buy them and all that kind of stuff. Because you know, these are, these are the questions, right? Like, you know, how quickly, you know how much you need to invest? How much how quickly, can you make your money back? Of course, it's going to vary from business to business, and then getting into the due diligence, your best tips for the due diligence and things like that. But yeah, like how much would one expect to pay for an existing online businesses? What are the types of businesses that are usually for sale, all that type of stuff, yes, a one on one, Jared,

Jared Kraus 35:57
the one I want, let's go through the three types of businesses first, and then we'll go through the process. And then we'll go through the ROI that they provide. And what may be best for a beginner versus somebody else that have may have in market experience. The so the first type of online business is a content website. So this can be a blog, it could be a review website. And how these businesses make money is they will create contents information or content, or affiliate article review content, that get people to either click on a product, and if they go and purchase it, they make money from the affiliate link. Or they may have you know, ads on the site from their info content. And they'll make money from the ad revenue or a combination of both. So their content websites, then you have E commerce businesses, ecommerce businesses sell products, you have different types of E commerce businesses, you got Amazon FBA, not a fan of those myself personally, for many, many reasons. Then you have dropship, you have sell product distribution, and then you can have crossovers, as well as different types of E commerce businesses. And then you've got membership or SAS businesses, membership businesses, as you know, in SAS business, I put them in the same bucket because people usually pay a monthly fee could be an annual fee quarterly fee to get access to a database of contents. It could be like database or content like Netflix is a membership business. Or it could be paying for an accounting software, like QuickBooks, I think you guys use Xero, QuickBooks, whatever you guys use in the States, and Canada. Yeah, so that's a that's a membership type business. I like membership businesses and SAS businesses. Because when you buy one of those, you're already buying a customer base of users that are already paying an income. So it's very, very valuable to buy it. Usually those businesses have a higher multiple. I'll talk about multiples in a second. And then you have con con content sites. Okay, so this isn't a different type of already talked about content sites, but content sites are best for beginners. Because the workload isn't as much with uh, most people come to me and say, Jared, I want to buy an E commerce business and my How much experience do you have an online businesses, usually it's nothing. And that's okay, that's great, but know where you're at. And know that if you are going to buy ecommerce businesses, there's so many more hats, to where so many, so much more work, and so much you need to get right, that's pretty important. With a content site, usually they've got a bunch of content that's getting traffic and already making money, usually you have a longer period of time that you could leave it with doing nothing to it, and it would still produce a result. With a ecommerce business, you really need your marketing to be working, you really need to be on point because your expenses can be higher as well with cost of goods and all that sort of stuff. And then same with membership businesses, you know, you could leave them for a little while if you wanted to same as content sites, but you'd also if you want to grow it you want to be really good at digital ads like paid marketing, digital marketing. So beginners start with content sites. If you're brand new to this then the multiples are multiple lists how many months of average monthly net profit will somebody pay for the business sometimes it can be average yearly net profit or it can be average monthly net profit. I'm going to most people in our space go with average monthly net profit. So a content website depending on how much risk it may have or how valuable the site may be, will be ranging for sale for a between like a 35 to a 55 multiple. So it can be 35 months of average monthly net profit to like 55 months. ecommerce business can be anywhere from 24 months 30 months to You know, 5040, depending on the business, and then the higher multiples are usually for the membership and SAS businesses and we're talking, you know, 40 to 90 Multiple. Yeah. Wow. So the prices we haven't covered, you can buy a business for $10,000, all the way out to 10 million or $100 million depends on what you want to buy.

Jason Moore 40:33
I want to buy Apple. Okay,

Jared Kraus 40:35
so you might need to get some finance for that one. Yeah, so a lot of people do want to get started in this in that they want to go away and buy a smaller business. And they buy something five or $10,000. What I consider under $10,000 is really in the startup phase. And like I always say, you need to spend a little more time, money, effort and energy to get it to a point that it is making a decent income. But you can still buy, if you're at that level, you can buy that level. But basically, what you're doing is you're not really buying a system that we talked about before. You're buying content, which is a website with content on it, that has the potential to make money. And you have the potential to grow that and scale that. I'm sure you've got questions to fill in the gaps that I didn't cover that.

Jason Moore 41:23
Sure. Yeah, no, that's a great breakdown, I guess. Alright, somebody's listening. And they're like, Alright, I'm interested, I'm going to explore this. I want to see what's out there. And then I want to start working through some of the due diligence to see which of those might be an option, you know, first of all, like, where do you start the research? How do you narrow it down? And then let's get into the due diligence,

Jared Kraus 41:47
depending on what type of business you want to buy, and how much you want to spend will be dependent on where you want to go. Usually website brokers if you type into Google, or whatever your search engineers, website brokers, what are the best types of website brokers, you'll get a bunch of different website brokers. The common ones are Empire Flippers, Fe international quiet light, brokerage and motion invest.com. I know I said those quite fast. So I apologize. Apologize to you guys. And then what's really common is most people have heard of flipper, flipper, anybody can list any business, whether it's working or not. So you need to be careful there. Although flipper has cleaned up a lot. I know the CEO flipper, since he's become the CEO. He's cleaned up flipper a lot and has a lot better businesses available for sale than what they were, say four years ago. So yeah, that's a good place to start, jump on Google flipper, and check out those other brokers. The cool thing about seeing those businesses, you can see how much they cost, how much they're making in revenue, how much they're making, or how much they're spending in expenses, and what their monthly net profit is, or what their annual net profit is, and what it cost you to buy it. And then you can work out what your return on investment would be. And they usually tell you how many hours it takes to run a business like that, and what sort of skills are required?

Jason Moore 43:06
Okay, so yeah, then what are we looking for? What's kind of the sweet spot for you, when you're looking at? I imagine you're looking at a lot of these listings all the time? What are the ones that stand out to you? Where you're like, oh, okay, yeah, I'm going to bookmark that one,

Jared Kraus 43:22
it depends on one's investment strategy and where their portfolio is. So I would suggest for somebody who's new starting with a content site, and then if they could buy something in the same niche, that's an E commerce business, or SAS or membership business, amazing. But there's the, I would say, the sweet spot for somebody starting out is if you can buy something between the 20 to $60,000, price range timer recording, then use you can buy a decent content website at that price, maybe 25, it's starting to go up a bit more now. You know, 25 to 60, then you can start to see some pretty decent content sites and start off there and then you can learn your skills and content. And then if you want to expand into you know, even adding some products for sale on your own content site or adding a membership, sort of product or service to as well you can do that too.

Jason Moore 44:19
Okay, is that one of your kind of tips, you mentioned same niche is that because those businesses would feed into each other? Is that something you tried to do?

Jared Kraus 44:28
Yes, I for example, you bought a content website that was dogs around how to you know, have a healthy dog and then it's got like 500 articles around how to have a healthy dog and different things. You can feed them exercises, home environment, whatnot, and then you made some money from that or you had some no money leftover from working and and that main business then you may be able to buy a contents have an E commerce business that is selling dog food. And you imagine you could send a lot of traffic to that ecommerce business. And you know, they they really work hand in hand and you can get a higher multiple selling them as a package.

Jason Moore 45:14
How important is it for you personally to be emotionally invested? Into what what the business is about? Or are you more excited about business as a whole, and it doesn't really matter that it's dog food or cat litter or whatever? Yeah.

Jared Kraus 45:32
I thought, I think this may be a mindset her that a lot of people need to get through at the start that I've sort of noticed is somebody came to me last week with a site that's a golf site, and they've been looking for a while. And they're like, this is it, this is the one. And they were so hell bent on wanting a golf site. But I looked at the numbers. And I was like, This is not a good businessman. Like, let's let that be sold, please. Obviously, I led him down the garden path to be able to him to educate himself enough to find that out himself without me just robbing him of education there. But yeah, I personally, me I'm like, I look at businesses so many, like, I'd probably look at like 30 businesses a week or something like that. It's so unemotional. For me, it's like this business needs this needs that done, or grow, or, you know, these are the risks, here's a good reason to not buy it or to buy it. So for me, it's so unemotional. But I, how I do get my fulfillment is what you alluded to before is like the game of business around it, like being able to grow it, the monetization method, the little hacks that you can do all the better business strategy that you can, that you can use over your competitors. That's what excites me about business. I have this I have this unique thing about the buying online businesses, businesses, where I teach people is I have this, I love business, but I also get so much fulfillment out of you know, like we said before changing people's lives by buying a business as well. So if you can have that double whammy, great. But like I said, I started this business because I had a passion that I was prepared to spend over a decade in this space, because I wanted to, I wanted to help people that there wasn't that service around. So

Jason Moore 47:23
how many businesses do you have now personally, that you've bought and are running?

Jared Kraus 47:28
I have three now. I've sold some bought some. But yeah, at the moment, I've got three, and I'm probably going to sell one towards the end of the year. And just sort of focus on two more than three. And I'm doing some other investments out of the online business world as well.

Jason Moore 47:47
Okay. Do you have like a team of people? I guess that's the first question should, you know, there's the solopreneur, I'm traveling, I'm gonna do this all on my own. And then there's the have a bunch of people. And when I buy businesses, they helped me do this. And that, and I know exactly what I want to do. I know there are a lot of variables here, I'm just wondering if the businesses you're looking at are the types of businesses that can just be like, run by you. And then you can, you know, do a couple things and go surfing and come back or whatever. Or if you have some kind of elite team of people that are pulling the strings, like the Wizard of Oz back there.

Jared Kraus 48:24
I do have some elites. But this is the this is the cool thing about content sites is like they can be so passive, like, I got a content site that I don't have a team to you, I hire people to create content, upload it, publish it, all that sort of stuff. And when I need something done, I can just hire somebody to do it. It's a very, very passive site. And that's why I believe content sites are really good for beginners. In terms of like, this business, buying online businesses, yeah, I've got some pretty cool people that work with me, they're helped me with a lot of admin stuff. I would never want to manage this whole thing by myself. I just don't think I could. Yeah, and I mean, I've bought a business with a team before and it's been, it's been amazing. Like, the team has taught me everything about the business. And then I've added my little, you know, entrepreneur, two cents in, they've gone away and run with so I'd suggest if you can buy with a team great and you know, but usually you're buying a business over 100k that's gonna come with a team,

Jason Moore 49:30
or comes with a team. Okay, I was gonna ask you that to the people come with.

Jared Kraus 49:34
Usually they don't, usually they do not. If you like, for example, you owned a business and you built a really good team and you spent a lot of time building that team and you want to stay in that sort of business model. You'd want to keep your team with you, right? So a lot of people do take their team with them. Or if it's a content business may they may have writers that are really good at that particular niche that The person who purchases that business service, I purchase that business they made me, they may connect me with a writer that I can use to they can write the content. So get content sites, very cheap. It's cheap to hire, hire people to do the work for you. But you can also, you know, put one blog out a week, and put it up and it can continue to grow. So in terms of other skills, that depends on the business, like, yeah, what skills you would need for each business? And there's, there's many, depending on the different types.

Jason Moore 50:37
Well, what are some of the overarching skills that you see are common for all the businesses, I imagine, one, you mentioned, is just being able to like hire people and sort of lead to a team, which, if you've never done that before, and you're listening, everybody starts in that same place? Right? So maybe like leadership and project management and things like that communication? Are there any other I mean, I know there's some nitty gritty, you know, SEO and content writing and stuff like that. But, you know, again, you can hire people to do that. So

Jared Kraus 51:04
I think people should know, sales and marketing. I think that's a really, really helpful. And that's so broad to say sales and marketing, because it doesn't really like what does that even mean? Does that mean phone sales? Or does that mean like online business sales? And marketing? What sort of marketing are we talking about, you know, offline marketing, online marketing, it doesn't matter. If you have some skills and some understanding on how marketing or sales actually works, and why people buy things, it's going to be a huge help. You know, even if you just, you know, have an Instagram account, and you're trying to get people to watch, you know, look at your content. That's, that's sales and marketing. So usually a lot of people have more experience in sales and marketing, they may actually perceive

Jason Moore 51:53
cool, due diligence, what, I'm sure we're missing some things. But when you do due diligence, what how do you do that? What's your process to make sure you're making a good investment?

Jared Kraus 52:05
Well, I have a due diligence framework, I can actually give it to everybody if they want it. i It's what I want it. Yeah, cool. I'll give you a LinkedIn for that. And yeah, it's just, it's my framework that takes the guesswork out of buying a business that's like asked you the questions that you about the business, for the information that you need to get to put it all in one area to identify, you know, how many risks does have what sort of how risky are those risks? And are they worth, you know, taking on or not, and that'll help you determine if the business is worth buying. There's multiple different sectors in the due diligence that you do need to cover just to give you know, the audience something to chew on, you need to cover SEO, you need to cover marketing, like paid marketing, you need to cover the email list, you need to cover the traffic, and you need to cover the financials. So you need to check all those things, make sure everything's sort of is adding up. And there's and there's some other things in with different business models as well that you can plug into that framework, like what type of, you know, if you're buying an Amazon FBA business, or an E commerce business that's on Shopify? What are some of the things that you need to be asking to get the proper information to make an educated decision?

Jason Moore 53:22
And yeah, we'll we'll be sure to include that link. And what about legal stuff? Are you stuff on purpose? Because people are like, do I have to hire a lawyer now? And how does this all work? You know, it's scary, and it's an additional expense, especially the legal stuff. So how much other stuff outside of when you see the price tag, you go on, you've done all this due diligence and all of these things, and you're like, Alright, I'm ready to pull the trigger. This is 30k. Do you just send people 30k? You can you make a deal where you just give them a down payment pay over time? Do you have to get lawyers involved? How does all that work? Yes,

Jared Kraus 54:00
good question. I'll give you an example. I had a client buying a site, I think it's like 200 220 grand or something like that. Wanted to get his accountant to verify the financials, and then we're gonna get a lawyer to look at the deal. The lawyer was gonna take like, three weeks to look at it. And the account was slowing him down. Most people don't use a lawyer for anything under the usual Rock Around the two, maybe 300 grand price range, you know. So, under that price range, usually there's no lawyers involved. Usually you do have a contract for sale or an APA, which is an asset purchasing agreement, which is an agreement between yourself the seller, or sorry, yourself, the buyer and the seller on what you will actually get for the sale. And then in that agreement can be how you pay as well, which he asked about, do you just pay all the money up front? Or do you pay a deposit And then you know, other bits, it depends it, you know, paying a deposit and then paying some offer during a period of time is called an urn out, which I think is a really good really, really good way to go the one that I would prefer to do rather than paying upfront. And it just allows you to allows you to have the previous owner of the business have some accountability in the business for that duration of time that you're making those repayments back. So you can pay upfront cash, you can do earn out, like I mentioned, you can do seller financing, which is the same as an earn out but those repayments you have to pay interest on. And yeah, that's as you go higher and bigger businesses, there may be some laws and stuff like legal stuff that you you'd want to check. But yeah, under under those low 60s is rarely is very rare. Like, even I know, we had people by 400 to 500, a little bit $500,000 businesses not using a lawyer, and that's pretty common.

Jason Moore 56:06
Okay? Do you have any recourse as a buyer, like, let's say, you get something and somebody pulled a fast one, or?

Jared Kraus 56:15
Yeah, you could, yeah, you can put into your agreement that if the business stays the same, and this is very how I explain this is not going to be very technical, sadly, it's just going to be an ideology. But how you can put it in your contract as you can have it the business stays the same income level, you say, pay the same price, if it pays a little bit more, then you pay a little bit more for those business during those earnouts. If it you know decreases under within that period, if you're doing an urn out, then you pay a little bit less. So you can have that sort of recourse, I guess, if you're able to put that in the agreement. And I would say you'd want to make sure that you do include upside for the seller. So they know it's not just a one sided agreement, like the most important thing about any sale, or any business being sold is it's a win win agreement, like you want both parties to be happy. Otherwise, it's just an ugly deal. And I don't think it should be done.

Jason Moore 57:21
Yeah. And it sounds like with that arrangement, you're also you're getting the business owner invested. And there's some accountability there for them to kind of follow through and make sure you're getting everything you need. Because I'm sure that's an interesting time to when you take over, you're working with somebody pretty closely that you haven't worked with somebody before. Before that you don't even know really, they're a stranger. And now all of a sudden, you're sort of in business together, I'm using air quotes, but at least for a period of time, which must be pretty interesting.

Jared Kraus 57:51
It's, it is a depends on and you put in the agreement, how much training you can get, or how little training you can get from the previous owner. But I like to tell people look like, yeah, the the relationship is far more valuable than the investments that we ended up making. Because say, for example, you buy a good business from somebody and you want to go again, maybe they are really good at starting businesses. And they may want to sell another one, then you already trust them. Or, you know, they have some key player that they know or connection in the industry that you don't, and they could put you in front of them and you are in contact with them. And they could help you grow your business incredibly, or they may have a strategy that they've tried, and they can give you some feedback, like there's so much value in the relationship that I just people that have come into the space that are like, I just need to make money. And you've got to realize like business is a people game.

Jason Moore 58:49
Yeah, right. Yeah. Yeah, that's really important. And thanks for bringing that up. Because you know, you don't maybe think about that when you're buying a business that are still in my head. It was like, Well, you know, you buy one here, you buy one there. But of course people start businesses and maybe there's somebody that's a while I'm sure there are people out there that they know how to build a business to certain level and then they sell it and that's kind of their their MO and speaking in that. I guess I'd be remiss if I didn't talk about the buying or excuse me the selling side because I just wanted to hear some of your I know this is this will be a whole they're probably episode but just sort of your top tips for somebody who is building their own business and maybe they want to do it in a in a smart way where it has the potential to sell later on. What are some of your best practices to to build your business in a way where it's appealing to potential buyers down the road?

Jared Kraus 59:45
Yeah, it's good question. Number one is to not have your personal brand too heavily attached to it. Because the risk of somebody buying a business that's got a big personal brand is that if they buy that business in that part Isn't is not a part of it anymore, you know, and they've got a big audience that follow the brand because of that person, then you know, just that it's not going to produce the best results for the same results. So personal, I'd say, remove some personal brand attachment from it, if you can all, that'd be amazing, having good books, you know, legible books like readable books that are easy to understand. Also having good systems in place, you know, processes and systems that you can just simply hire somebody, you don't need to do a lot of training from your systems do the work, and they produce the result that you actually need. Makes a business like really nice to run, not just for yourself, when you are running it, but like to hand over to somebody, it's, it's, it's a beautiful thing. There's so many tricks that you can do in terms of like, hardcore acquisition of business, for portion, and then scale that back and scale your expenses back before you sell, and really streamline the business, to have it be more attractive and more profitable to get help you get a higher price. There's ways that you can do that as well. Also, to decrease workload, that's a really attractive thing for a purchaser to have a business that sort of is like, you've heard these key keywords, turnkey business and stuff like that have a business that's pretty like passive is is a very attractive thing that has very little expenses. Yeah, cool. There's so many ways you can do it.

Jason Moore 1:01:37
Have we missed any, I mean, obviously, there's a lot to unpack here, you have an entire business podcast, and in this, you know, there are weeks and years of learning around this topic. So I don't want to like gloss over that. But you know, looking at this as sort of the 101 trying to help people decide if this is an avenue they should explore for themselves. And things like that. Have we missed anything? Major?

Jared Kraus 1:02:01
No, I think we've covered it all. But the one thing that really I guess if we had a highlighter Jason was to was to for people before they even just go away and explore this is like sit down with themselves and ask themselves like what did they want, like, do they have a business in mind and a product or service that they are really passionate about? Then maybe start that business but if you if you just goal is to travel and make money that was my only goal is like, let me save you years and years and years of of like, just hardship like I went through, you can just buy one and explore that and it doesn't mean that you need to you know, you need to like do it right now or in the next month or year. Sometimes people check out my stuff and they go ha like this is a really cool concept but I may not have the money or I just want to try start one myself. At least if you know the option like yeah, you can go try try start one yourself like it's you know, there's not one way but I usually find a lot of people that do that they come back to me a year or two later and go Jared let's let's pull up business let's try this let's buy one now.

Jason Moore 1:03:12
Well cool, man I mean, this is what you do. So you know obviously people can can find the links we mentioned the website buying online businesses.com This is this is a complicated thing. So if you need some help get to know Jared here you got to know him here over the last hour or so. So if you need some help there's a resource there for you as well. solo travel man I want you to just tell me Give me your your take on solo travel.

Jared Kraus 1:03:39
Man How good is the personal growth that comes from solo travel like you have to do everything like it's a lot of work is a lot of work in it but the growth from it is like you put yourself in these different places Yeah, my take on solo travel is it's phenomenal and I think I think there's a time and a place for it in your life. I think whilst you're young it's really really good to do and then event like if you have a partner or you have a time that you just need to do Do you like it's it can be really really fulfilling as well you can get all that stuff off your chest get it out of the way and come back and live your life I think solo travel is like I said at the start a very start like solo travel has shaped me as a human being you know what I what are your thoughts on solo travel? I'm curious you know, because you've done so much What's your thoughts on

Jason Moore 1:04:44
I recommend it to everybody and you know glad that my wife she she values solo travels well so we still I mean we're pretty bogged down with the kids right now shouldn't say bogged down kids. Grown up. I don't mean that we love but you know it's not Like, nobody's taking off for a month to travel solo right now we know we need to be.

Jared Kraus 1:05:05
But in five years time, you know, like you're sure to get that tape.

Jason Moore 1:05:10
Yeah, like you said, doing everything on your own, it just makes you realize how resourceful we are as individuals. And resourcefulness is a is such a important thing to kind of be aware of in terms of like, being able to utilize that as a skill set and understand, oh, you know, no matter what you I feel like no matter who you are, you start traveling solo, you're gonna realize you're, you know, maybe even a lot more resourceful than you think you are.

Jared Kraus 1:05:37
Sure, like you. Traveling is hard. And there's like, it seems like almost every day, there's a problem to be solved. And this is what I thought about a my travels, you know, when I'd sit on long trips on a bus, you know, you I realized, like, I got really proud of myself at one stage, like, I'm a really good problem solver. Like I was like, I can do this solo travel thing. And that only like, the first such first solo trip, I never thought that that only happened over like multiple years of doing it. And another thing about solo travel that I like is that like I said before, those that space that you have to reflect actually somebody somebody I forget one of my mentors mentioned, forget who it was. What wisdom actually is, is experience, wisdom equals experience plus reflection. And when you have a busy life, you get a lot of experience, right? Maybe not as much as you would when you travel. But you when you do travel solo travel, you get so much experience, but you also have that time to just reflect like when you're on a plane, when you're on a boat, when you're on a bus, train, whatever it is, if you're not like don't consume audio, or video on that trip, that the reflection is so damn value valuable about who you are as a person, what you like, what you don't like. I think that's just important to becoming, I think solo travel helps you become more of who you really are as a person, which I think is like the biggest goal that anybody should have over money and career anything is like become the most robust form of who you should actually be. I know we're getting deep, deep now.

Jason Moore 1:07:35
I love that. And I agree. Also is such an incredible way to learn about yourself. Yeah, like I like I like we said about wisdom being a time for reflection, I think it's important that you get bored and lonely sometimes and things like that. I mean, it's so easy nowadays to just always be occupied always be doing things like you said being quote unquote, productive, maybe picking up your smartphone and getting entertained for those, you know, few minutes. But the reflection is is so key and you know, yeah, you're gonna get lonely like you've kind of mentioned being lonely, when you're out traveling for that year and a half and kind of wanting a change and you're gonna get lonely, you're probably you're probably going to be bored, they're probably going to be some things you can't figure out or some shady situations that you wish you had, you know, somebody around to kind of help you. But you know, not that I wish that on anybody that last one. But you know, but like the loneliness in the boardroom and things like that. I mean, like, you know, they should be welcomed. I think that's important part of the whole experience, I feel.

Jared Kraus 1:08:47
I think you're spot on. Like, when you say that it just makes me realize that most people don't have the opportunity to be lonely, or the opportunity the board. And most people like to run thinking about in the future when this VR stuff is going to be everything, like most consumption is going to be like friggin 90% of your time, at least like sort of thing. And yeah, I think that just can really preoccupy us. But I think it's good. Just the space that you have to really allow yourself to be like not not you want to be lonely, not you want to be in those shady situations, but the just having the space to really think about how that evolved and what you could have done differently, what you could have done better, what you may do next time, how you'd want to set your life up or yourself up or upskill yourself up. So those things may not happen in the future. Like it's yeah, that's the space is like. Like, I think, well, this is getting super I don't know whether you call it macro, but for anything to grow, like, if there's something in front of it, it can't grow, because there's no space, right? Like, if there's a if there's like, a piece of glass, and then a tree coming up, it's not going to be able to grow. Because there's the glass there, right? It's, it's stopping there, because there's the glass is taking up space could be a big two inch thick piece of glass. So for us to in order to grow, I guess we kind of really need to have that space.

Jason Moore 1:10:34
Yeah. Yeah, that space is key. I mean, you can manufacture that at home, of course, too. But you have to, it's almost forced upon us when we're out traveling, right, you have more time for the reflection, and, and you sort of feel like you have the space of the physical space from, from where you're from, and maybe the whatever identity you you have created for yourself and living in one place, you know, and then you're, you're free of that there's, there's so much around that. But yeah, grandma's space is a great word, I think, to just think about the travel experience as a whole and how impactful it can be. And I think I do agree, that's a huge part of it is just having the space, and it's so important to give ourselves the space in our everyday lives now, you know, to just, you know, if you're not traveling, and that's okay. I mean, we're all going to settle down at some point, we're going to periods of time where we're settled down. Who knows how long that those would be? But I mean, I think that, yeah, how do you create space for yourself in your daily life?

Jared Kraus 1:11:34
Now? Yes, is such a good question. It's like surfing sounds like yes, like you need to have, you need to have boundaries, like you need to have really, really good boundaries when you're a business owner. And you're working from home, or wherever you want, like, you can go insane. Yeah, you can, it's easy for me to just open up and just go email and check emails and reply to emails for the, you know, the whole morning and the whole night. But, yeah, it's like, yeah, the answer to that question is boundaries is like setting really, really good boundaries, stop working at a certain time, only start working at a certain time. And take breaks. And make sure that you feel that time like, because I am a high achiever. Like, I'm sure you are, like, we kind of just, if we're not doing anything, we're gonna be focusing on that, like, how do we get to the next level? Like, how do we how do we do like, we're just gonna, we're just gonna work. So it is like, yeah, surfing, skateboarding, tennis, time with partner time with people, you love family and friends and stuff, I think it's really, really good. I think what you said before is like we needed, we need to have that space. And we can create that, even when we're not traveling. But I think what traveling does is it forces you to have the space and I like that, I like that force about it. Also, a lot of people want to travel so they can find themselves. And you can do that at home as well right to give yourself space, you can find out who you are, and wherever you are in the world. But what traveling does is it forces you to it kind of forces you to find, find out more about who you are, because you put yourself in those situations where you need to like, how this how would I deal with it?

Jason Moore 1:13:30
Yeah, yeah, and of course forces you also to learn more about the world, like you're there, you're going to learn you're going to see you're gonna take things in, you know, it's just impossible to

Jared Kraus 1:13:40
the appreciation as well, right? Like, living in a developed country far out. Like, it's just, I noticed, I noticed that when you can be when I could be in a developed country for a long period of time, I can really forget how frickin good I've got it. And I noticed that when I would do a big trip in Asia or wherever it is, and then come back and like, I would just be like so understanding of like, oh my god, the roads here like we have like good roads and like no trash and stuff. But most of our friends is like we were taking it for granted. And then I was you know hanging around that environment, you start to do that as well after a period of time but like the the appreciation of like what you have in your own hometown is like, also the appreciation for like, the people that you love, like how much how much respect you have for them and how much you actually respect being with them. I've realized that with the solar the big probably one the biggest realization of solar trouble for me is like, experience experiences are like the most one of the most, I would say probably the most valuable thing in life because that's what you can take with you. Experiences Is with people that you love as So, are even more valuable because you get to reminisce those experiences. And I think what you reminisce those experiences, they just become far more valuable. Because I've had some, I'm sure you have too. I'm like so many solo trips where you like, sleeping under the stars, you know, and you see like 12 Shooting stars or, you know, climbing this mountain or seeing this thing and this crazy experience happening, you do it with somebody you've been best friends with for three months, that you may never see them again in your life, reminisce it, but if you had that with somebody that you love, and not this a you don't love the other person you spent three months with but somebody that you are in contact with regularly. That's just like, that's the juice. That's life right there.

Jason Moore 1:15:53
Yeah, we've done loads of traveling. I mean, what are some of your, I don't wanna say favorite spots, because it's unfair, but you know, some of your more memorable kind of experiences, you know, places, maybe you would perhaps, like to go back and see again, or yeah, just sort of standouts for you, in your experience.

Jared Kraus 1:16:13
Egypt was a big, like, I think Egypt really did something for me spiritually. Like, I don't know what it may be yet, but something just happened in Egypt. And I don't know what it was. It changed my trajectory in life. It's when I started to realize like, I want to start working out how I can make an income online. But I was living in Dahab, in Egypt on the Red Sea. And I was divemaster there, and just the people like I just got a really good connection with the and really good friendship group there. And that made it phenomenal. I really, really enjoyed my time there. Yeah, I also quit drinking when I was in, in Egypt, and what I mean by quit drinking, I quit like, hardcore party. And went on for healthcare and then realized, like, I wanted to take care of my, my body. And I wanted to set up like, I realized I wanted a different life and set up a different life. And I it was a really good space for me to be in for six months. And just sort of not out who I was as a person, really, and who I wanted to be as, as a person.

Jason Moore 1:17:24
Beautiful, man. What are some other like, you know, somebody comes to you and they're like, oh, man, I'm gonna go travel the world for a year. Where should I go? Oh, yeah, for a year,

Jared Kraus 1:17:32
man. That's really good. Question. Yeah, if you could go. Like I would say. It depends on the experiences they want to have. But I definitely think you're like getting a good chunk of your done like we did in the we did that in the van over four months, with a bunch of friends getting a good chunk of Europe done like it's hard to name name and all but like a big portion of Europe. I'd also say we did you buy, like a campervan there. Yeah, we bought, we bought a mini bus and we just pulled all the seats out the back and built one bed in it. I was telling the story today, it was pretty gross. When you think about us four guys, in this minibus in sleeping on one big bed, you had a pillow with the part. And we just thought all our food underneath and our circle was on the roof. And it was we just partied and surfed. And, and, and lived. It was really, it was a really good experience. And I think a lot of people, you know, should do that. Do Europe. Not I'm not saying you're doing it and whatnot. But I think a good portion of Europe is really, really good. I like sort of experiencing different cultures and living in different places for a period of time. So I've done I did that in Japan. I did that in Panama. I did it in Mexico. I did an Egypt, of course. And each of those places kind of really became a special places for me. So if I was somebody that had a year, I'd say try and like you want to see a lot of places, but I'd say also don't rob yourself of staying there for like, you know, maybe more than two weeks, you know, two to three weeks, maybe a month in some of the places you like, this is this is good. Yeah, I think age is real really good. It was just really a really humbling place to go to realize, like, if you're living in a in a developed country to realize like, wow, like we, you know, we were just born in a place that was, you know, seems a bit easier than what you know, everybody may have here. Yeah, I think that's I think that's a good experience to have and the culture of Central and South America is pretty cool. as well. Like this. It's hard. It's so hard when you think about all the places you've been and all the, like, the different things that you've done in different places is it's really hard to tell advise somebody where to go, like, Should you tell somebody to go to India? Like most most like a lot of people, it's not the probably the best place to go. And then some people, it's like the place to go.

Jason Moore 1:20:26
Yeah. Yeah, I mean, it's just, this is why it fascinates me to talk to different travelers, because you get to hear their version of that, whatever it is for them, you know, and I never got bored of the, the hostile conversation, you know, people have the same conversation when you get to the house, or you get here and there and like, where are you from? Where you been? It's like that never got boring to me. And we were like, yeah, it gets old. I know. That. Really curious.

Jared Kraus 1:20:54
Yeah, the hostile conversation. I'll tell you what the hostile conversation is what made me travel more. Right? Because you just every time you meet somebody, you go through what they've done in like, my list is now so much better.

Jason Moore 1:21:10
Yeah, in a good way. I mean, we can't can't see it all. We can't do it all. But we can try. I suppose we can try. We will cool. Thanks for your time today, man. I really appreciate it and the wonderful breakdown on buying online businesses. And I mean, we left all the links and mentioned them. But if there's any, anything else we missed, feel free to share. Now. The podcast, of course, you got a podcast, if you check

Jared Kraus 1:21:36
out the Podcast, the podcast is done exceedingly well. Yeah, I just say thank you for listening. And thank you, Jason, for having me on. If people do have any questions about anything at all that we discussed today, they can just email me, Jared applying online businesses.com. And I'm happy to share and help in any way I can.

Jason Moore 1:21:56
Cool. Thanks, man. I really appreciate it and appreciate you and the work you're doing. And if I ever decide to buy an online business, I'm hitting you up. You're doing well. You ready? Go. Yeah, thanks for your time and look forward to staying in touch.

Jared Kraus 1:22:13
Likewise, thanks so much, Jase. Cheers.

Jason Moore 1:22:21
There you have it, my chat with Jared a lot to unpack there. And buying businesses, of course, is a deep topic. But I am all about getting as many options on the radar as possible. For you, maybe this is one you've considered maybe it is one you've never even thought of before. Either way, now, it's on your radar, I did my job. That's what this is all about giving you all the tools and different ways you can travel the world endlessly. Perhaps this way is right for somebody listening right now. Others are like, well, you know what, I'm just gonna file that in my, maybe one day category in my brain. Maybe it's just me that has, uh, maybe one day I wish I could live like 100 Different live simultaneously or something. I don't know how that would work exactly. But you ever just have that feeling where you just, you want to do it all you just kind of want to do everything. That's a common feeling among travelers, I would imagine. But we can't do it all. We got to pick and choose the things we want to do. And just move forward and have the experience. That's what we're doing here. We're just living li vi n just live in. Alright, I'm gonna leave you with a quote in a second. Jared, by the way, is a course contributor to this year's paradise pack. If you go to zero to travel.com/pack, you can see what that's all about. We have 27 different courses, discounted at 96% off, which is insane for one week only from March 29 through April 4. So you don't want to miss that if you want to get the education you need to start a business that you can run from anywhere, make your travel sustainable, we put this pack together to help you do just that and an affordable price. It's a crazy discount. We can't get all these people together for that long to keep their products discounted like this, these creators. That's why it's only available for one week. So check that out zero travel.com/pack just wanted to mention that Jared is a part of that. So if you're interested in what he says here, and you want to pick up one of his courses, plus 26 other courses that can help you travel the world sustainably and get your lifestyle business launched or scale it then you can check it out. Okie dokie Yes, I just said okie dokie believe that. I've got a quote for you from Shirdi Sai Baba. Who said Your soul is always trying to be heard above the noise of your mind. When you quiet your mind your soul takes command. And just so you know there actually is an exclamation point at the end of that quote, which is why I read it like that. So there you go. I like that one. Your soul is always trying to be heard above the noise of your mind when you quiet your mind your soul takes come and leave you with that little food for thought. Have a wonderful day. Smile, take a chance today. Do something out of your zone, whatever that means to you. And thanks for listening. I'll see you next time. Cheers.

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