Dominic Wells has been living and breathing content websites since 2012, and has been actively buying and selling them since 2014. He’s bootstrapped multiple successful service businesses and dozens of affiliate websites. Now he helps investors realize the above market-average returns available in the online business investing space, and eliminates a large part of their risk by helping them acquire and run above average businesses, while diversifying their portfolio.
Entrepreneurial Role Models:
When business started difficulties overcame:
“Everything. I think the obvious one is just doubt, not knowing if I was going to succeed… I remember lying awake at night thinking I hope I get there one day. Am I going to get there? It’s been 18 months and I’m making $200 a month… On top of that another one would be not necessarily knowing what I wanted to do. I didn’t come up with a problem, I didn’t discover a problem and then come up with a solution like you always hear about in Silicon Valley and these unicorn start-ups where they solve this big problem”…[Listen for More]
Favourite Books:
Traction: Get a Grip on Your Business Book by Gino WickmanFavourite Quote:
“People overestimate what they can achieve in a year and then they underestimate what they can achieve in 10 years”
Recommended Online Resources:
- Tropical MBA Podcast – The Podcast for Location Independent Entrepreneurs
- Authority Hacker talks about everything authority sites, come check our free blog, podcast, videos and trainings
- Website Investing. Free weekly newsletter podcast plus paid subscription for website deals and industry insight
Best Advice to Other Entrepreneurs:
“it depends where they are. If they are very early, I would say listen to some of the things I’ve said in this episode like tenacity and playing the long game and so on. If they are further ahead on their journey, they already know that I think networking is something that everybody does but you can’t do it too much so everybody should do it more. So, whether that’s going to conferences or reaching out to people online or joining forums and communities or something like that I would say that’s probably going to do more for them and their business than a lot of the other gimmicks that they might try”…[Listen for More]
More About Dominic Wells:
Neil’s Quote at the Beginning:
“Business opportunities are like buses, there’s always another one coming” Richard Branson
Other Quotes From the Chat with Dominic Wells:
- “I probably should have hired people sooner. I don’t think I hired somebody until my second author year… Because every dollar was precious and what I didn’t realise is that if you have 40 hours in a week when you hire someone you know have 80 hours in a week. So the idea is are their 40 hours going to generate you more money. If you’re 40 hours generate you money and their 40 hours are probably going to generate you money as well. I had this kind of wrong mindset and now if I started a new business, I would hire the team first and worry about revenue and profit and everything later”
- “networking. I was kind of shy, had a little bit of impostor syndrome and I thought if I reach out to other business owners or similar websites in the space they would not give me the time of day and some of them didn’t but I can definitely draw straight-line from the day I started networking to where I am now. And so, the 6 to 12 months that I wasted not doing that probably cost me a fair amount of money ”
- “tenacity, luck as well. Every moderately successful entrepreneur has some survivors bias and they want to attribute all of their success to hard work and obviously you can’t get there without hard work but you also do need some luck. And I think your hard work does lead you to situations where you get that luck. So, look, hard work, not being afraid to evolve. I abandon ideas if they are not working out. I just sometimes to my detriment but a lot of times to my benefit ”
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