Each day, there are many website buying opportunities that are being presented to us. This is especially true in the digital economy. The key is to be able to identify those opportunities when they appear. To know which of these opportunities are the ‘diamonds in the rough’ and you can get leverage off. Today Matt and I talk about the digital economy of websites, and why building your skills in this area can prove to be very valuable!
Matt: Today I’ve got a $20,000 question for you.
Liz: It’s a good one!
Matt: It’s one of Liz’s favourites, I know.
Liz: So, imagine that I say to you, I have a Berkshire Hathaway share and I’m willing to sell it to you for $20,000. That’s one share for $20,000.
Matt: Wow, that’s just one share?
Liz: Yes. Would you buy that share from me?
Matt: This is a business question for you. May or may not make you lots and lots of money.
Liz: So for those of you, if you said, “heck yeah!”
Matt: I know I would!
Liz: You’ve got some interesting information under your belt. And if you said, “no way!”, then perhaps there’s something that you don’t quite know. And I’ll just give you that bit of information. Berkshire Hathaway shares are currently trading at $324,000 each! So, if you had bought that $20,000 share, you would’ve just made yourself $300,000!
Matt: Thank you, Mr. Warren Buffet. Because it’s Warren Buffet’s company. If you were wondering who Berkshire Hathaway is.
Knowing The Value Of A Website Is Bankable Skill!
Liz: Now, the point of this is that every day opportunities are coming up right in front of your face. And, unless you know the value of things (the value of those opportunities) they will just slide straight past and you will walk straight past them. And what we do is, is understand the value of websites. We go onto marketplaces and find websites that are undervalued, we renovate them, and we keep the cash flow.
Matt: And they’re not always actually undervalued, as such.
Liz: Not necessarily.
Matt: We recognize the diamonds in the rough, though. So, we see websites that we know (with our skill set) we can turn around. We can put them into our system, and build them up, and make a lot more money.
Liz: Yes, so perhaps think about that. Are there some massive opportunities that are just sliding straight past you when you’re not realizing? And that’s something we ask you to consider around a digital marketplace. Perhaps you think you’re not techie. Perhaps you think you’re not in that world because you don’t understand it. There’s actually some specific knowledge that you need, but when you’ve got it, when you understand the value, then the world is your oyster, in the digital future.
Matt: So also, be thinking about how much money are you potentially leaving on the table for yourself by not understanding the massive value out there.
Liz: In the digital economy.
Matt: Especially the digital economy where there are billions of websites, you can always find an opportunity like this.
Liz: Yes, so may be worth considering.
Matt: What’s it costing you to not know this kind of knowledge?
Liz: Right, so now, would you be in on the $20,000? I hope so!