Ep 440: Buying a Business on a Marketplace With Blake Hutchison, Flippa
Flippa is an online marketplace where buyers and sellers meet. They have a global community of about 3 million users and continue to pick up a large number of buyers every day.
In this episode, Jordan West interviews the CEO of Flippa, Blake Hutchison. He shares how they started their journey, how it’s going, and why people are choosing Flippa.
Listen and learn in this episode!
Key takeaways from this episode:
Product market fit in a marketplace is the point at which you have enough supply to satisfy enough demand and that demand is seeing the supply as well-priced and adequate for their acquisition needs.
Flippa focuses on a one-line strategy which is all about matching high-quality business owners to acquisition-fit buyers and bringing them together efficiently.
Flippa adds layers of verification to users and watches their activities and behaviors to figure out high-quality buyers.
Someone who declines consistently is unlikely to be a sellable asset on Flippa.
You can sell something as small as $5,000 and as big as $50 million. The biggest deal they did last year was 35 million.
Every single person in the company has one defined KPI to assess them against something very simple that they understand.
Recommended Tool:
Evernote https://evernote.com/
Recommended Podcast:
Your Pathway to a Successful Business Exit with Blake Hutchison
https://podcasts.apple.com/ph/podcast/your-pathway-to-a-successful-business-exit-with/id564001633?i=1000508310426
Today’s Guest
Blake Hutchison is the CEO of Flippa, a marketplace to buy and sell online businesses. They have a global community of about 3 million users.
Connect and learn more about Blake Hutchison and Flippa here:
Website: https://flippa.com/
LinkedIn: https://www.linkedin.com/in/blakehutchison/
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