In this episode we talk about why the boom for internet companies is an opportunity for vertical startups.
I'm sitting outside right now, so you might hear a little bit of construction around me, wanted to jump on really quick and kind of talk about how I am implementing this idea that I learned at the Vertical Startup Summit.
The speaker was Gregory L. Frank. Gregory is the head of marketing for empire flippers, an empire. Flippers is an M and a company that only deals with Internet companies. And right now what Gregory has told me is the market for Internet companies are so hot. He's never seen valuations so high because the pandemic is pushing all these investors towards digital things that are digital. And in one of his talks, he talks about the digital asset flywheel. And if you really want to get a copy of this talk, send me a DM to my instagram and put hashtag digital asset flywheel and I'll send you the replay for this.
But he talks about the digital asset fly will essentially describes a method where you are buying and selling businesses for you to grow your wealth, and I was thinking about how this aligns with the vertical method where I grow a customer lists first, pre-selling minimum viable mockup, then develop a solution and then scale of solution the GPDS framework. Right?
And I was thinking that my next step for me as I'm building this community of 6% or entrepreneurs and visionaries, my next step is to have businesses that cater to this community. And one of the thoughts that I had is I am going to build an application that helps people do these presells.
So right now I'm helping entrepreneurs grow their community, grow their customer list, and then very next stage for them will be to presell a minimum viable mock up. I recently went out and had my website coded for me to be able to do this presell module, and I was thinking, "You know what? This presell module would really help a lot of other people that are doing similar pre sales, so it sounds like a really good app idea".
And then what I did is I went to Google and I looked at who already had these type of modules that are already out, and I found that there were 40 different presell web module companies and out of the 40 pretty much every single one of them. They were failed. I mean, they look dusty like they haven't been updated in a very long time, and I'm pretty sure some of them some of the ones that we don't even know about. They just don't even have funding for their landing pages anymore. So they just took down their entire site, and we'll never even hear from those people again.
But there's these 40 other companies that I found, and they're all distressed. And my plan is, as I build this community visionaries, and when I helped them on their journey to presell their minimum viable mockup, they're going to need this tool now. Think about who is going to be better off the person that has this customer list or this person that built this app.
Obviously, I'm better off with the customer list because now I have the luxury of going to one of these 40 different companies and buying these companies at pennies on the dollar, likely much less money than what they paid to develop it. And that's because these founders they feel like they lost everything and they would just be happy if someone like me came along and offered them at least a little something for whatever they built. And then I'm pretty sure that they would even be happy to see that their vision is fulfilled, even not from them, but from another person I know I would be.
So that's the idea. And when it comes to the digital acid flywheel, I was thinking, Why stop there? Why stop just at this pre cell module? If I'm building out this list for visionaries and 6% of entrepreneurs, then what's stopping me from buying up any distress company that caters to this market? And I think that's the next step.
After I I do the first ass up with the pre sale module. Then I'm gonna start buying up other companies that cater to the same audience and employed the digital asset flywheel where I'm just, you know, buying up distressed companies, growing them, scaling them, automating them and walking away boom, passive income, taking the next one, buying up distressed companies. And that's what I actually love doing. I love the growing part. I love taking a company from nothing and making it into something, and with this, like I'll get to spend time doing what I love and building wealth in a very sustainable way, a way that doesn't require me to go out to investors or go look for a co founder like I can do all of this myself. And this is what I love about the vertical method. And now that I heard Gregory Out brings talk about the digital asset flywheel like these two things together. What a killer combination. Boom. Bam! I'm out.
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