Summary
- The guest on the podcast is Brad Wayland with Quiet Light brokerage.
- The topic of the
- conversation is about building a portfolio of websites and digital assets vs. staying focused on a single project.
- Brad has two decades of experience in the online world and has bought and sold numerous websites.
- He believes in the importance of staying focused on a singular project rather than getting distracted by multiple projects.
- The podcast host challenges him with different scenarios and reasons for considering a portfolio approach.
- Brad shares stories and arguments supporting the idea of focusing on a single project.
- The podcast episode is sponsored by a company called “Search Intelligence.”
- Brad has a background in finance, accounting, and business development.
- He started his career in corporate accounting but felt unsatisfied and interested in exploring other opportunities.
- He had entrepreneurial experiences in high school and college, such as running his own painting business and selling products.
- Brad joined a custom t-shirt business and became fascinated with the data behind website traffic and analytics.
- He attended conferences on search engine optimization (SEO) and worked on ranking websites for free.
- It took him a few years of failure before he figured out a successful approach and achieved significant success with his t-shirt business.
- Brad realized he was more interested in the web and e-commerce than running a factory.
- Despite the profitable nature of the t-shirt business, he wanted to explore other opportunities in internet commerce.
- A friend mentioned buying a design blog that ranked well and generated revenue through AdSense and articles.
- Brad saw the potential of owning a content site that required full-time SEO work and decided it was a better fit for him than the t-shirt business.
- The speaker, Brad, bought a design blog for $50,000 and made his money back in 10 months.
- He has experience building and buying content for websites.
- Brad sold his portfolio of websites in 2015 to a private equity firm called Freestar.
- He currently works as a managing director at Quiet Light, where he has closed 60 deals as an adviser.
- Brad believes that being a solopreneur and focusing on one website can lead to success in the online business world.
- He has observed that successful clients at Quiet Light have achieved great success by focusing solely on one thing and grinding every day for a long period of time.
- Brad warns of the shiny object syndrome and the temptation to chase after different opportunities instead of sticking to one project.
- He emphasizes the importance of dedication, hard work, and staying focused on one business to achieve significant growth and success.
- The speaker woke up feeling like he was the smartest man alive due to his success with Google’s algorithms.
- The speaker rode the wave of algorithm changes and benefited from them for a long time.
- The speaker admits to being addicted to buying websites and not focusing on long-term strategy.
- Buying without a strategic plan can lead to problems and falling behind in content quality.
- The speaker warns against the shiny object syndrome and the temptation to chase after different opportunities.
- The biggest risk of taking on multiple projects is falling asleep on important tasks and not dedicating enough time and energy to each one.
- Many Amazon aggregator buyers failed because they were addicted to buying and didn’t want to deal with the difficult operational aspects.
- The speaker emphasizes the importance of being a special person to effectively manage multiple projects.
- Following a standard list of things to do might make you above average, but to be the best, you need to think creatively and go beyond what others are doing.
- Dedication to a topic and being an expert in that field are important for producing high-quality content.
- Carefully consider your passion and interest in a topic before pursuing it. Passion fuels long-term success.
- The speaker mentions the importance of becoming an expert on the chosen topic.
- There is a risk of not dedicating enough time and energy to rethinking strategies if you have too many projects.
- It’s important to consider the impact of not being an expert on a topic on the quality of the content produced.
- The speaker warns against falling into the trap of being focused only on making money rather than being passionate about the topic.
- Digital PR can be effective in building links to a client’s website. The speaker gives an example of using a guide on falling asleep on a plane to attract journalists’ attention and secure links on various news websites.
- Leveraging seasonal trends can help earn links to a website.
- Anticipating what journalists want to write about and providing them with relevant stories can lead to earning juicy links.
- The speaker mentions a website called search-intelligence.co.uk for similar link-building PR campaigns.
- The speaker discusses the value of focusing on one project rather than diversifying in order to be successful.
- Owning a portfolio of assets in the web industry may not provide real diversification, as the success of all assets relies on a single platform or traffic source.
- The speaker highlights the tendency of people to do the opposite of what they should do in terms of investing and time management.
- Building a portfolio may seem glamorous, but it is important to consider whether it aligns with one’s goals and if it can be achieved differently from the status quo.
- The speaker shares personal experiences of getting caught up in shiny object syndrome and the challenges of managing multiple assets.
- Buying a domain name portfolio was a mistake, as it added unnecessary responsibilities without the ability to improve sales.
- The speaker acknowledges the temptation of chasing after small deals and the impact of deal size on decision-making.
- The speaker shares a story of buying and selling a domain name, highlighting the unpredictability and potential missed opportunities.
- It is important to figure out how to manage and invest in assets, considering individual circumstances and goals.
- The speaker emphasizes the importance of focusing on the main objective rather than dividing resources among different assets.
- The speaker advises against building a portfolio, stating that it can add unnecessary responsibilities and increase risk.
- They suggest that people may have a desire for shiny objects or new projects, which can lead to a lack of focus and effort on a single project.
- The speaker reflects on their own experience of having a portfolio of web design sites and realizes that focusing on one domain could have resulted in the same or greater revenues, a bigger brand, and lower costs and stress.
- They emphasize the importance of focusing on one main project and not dividing resources among multiple assets.
- They discuss the challenges of managing a portfolio, especially when facing unexpected issues such as sudden drops in traffic or changes in algorithms.
- The speaker mentions the need for talented people on the team and highlights the importance of attracting and retaining skilled individuals.
- They mention that successful entrepreneurs are willing to hire people who are better than them at certain tasks to help scale their business.
- The speaker suggests that not everyone may enjoy the nitty-gritty of managing multiple projects and emphasizes the need for honesty about one’s own capabilities and preferences.
- The speaker mentions the importance of thinking outside the box and testing new ideas to improve a business.
- The timing of the helpful content update has made people realize the need to do more to make their websites better, such as building social media accounts and products to enhance branding.
- The speaker reflects on the impact of the helpful content update and suggests that it is a learning experience for many on the challenges of dealing with AI-generated content and the increased competition for rankings.
- They point out that updates to Google’s algorithms can have unpredictable effects and sometimes lead to fluctuations in traffic without any changes made by the website owner.
- The speaker emphasizes the reliance on third-party platforms like Google, Amazon, and Facebook for online businesses and warns of the risks involved.
- They mention a case where a seller made intentional investments and improvements to their business, resulting in positive outcomes, highlighting the importance of focus and hard work on a single venture.
- The speaker mentions a book by Benjamin Graham called “The Intelligent Investor,” discussing the idea of holding the entire market for better returns, which they relate to the internet world and the need to evaluate one’s own capabilities and risk level.
- They conclude that maximizing efforts and focusing on productivity and return on investment are crucial in the online business landscape.
- The speaker provides their contact information for those interested in reaching out for advice or potential business valuations.
- The speaker describes a strategy they used for a fitness client, where they gathered expert commentary on popular diets and sent it out to 15,000 journalists worldwide.
- The email resulted in major publications picking up the story and providing relevant and valuable links to the client’s website, which positively impacted their rankings.
- The speaker suggests using expert commentary campaigns to land links for websites or clients’ websites.
- The podcast episode is sponsored by Search Intelligence, a company that offers link building and PR campaigns.
Posts
Table of Contents
The Power of Focus: Building a Singular Project vs a Portfolio of Websites
In the ever-evolving world of online business, entrepreneurs often find themselves faced with the dilemma of whether to focus their efforts on a project or to diversify their portfolio by acquiring multiple websites and digital assets. This topic was recently discussed on a podcast featuring Brad Wayland, an industry expert with years of experience in buying and selling websites. Let’s delve into the insights and opinions shared during this conversation.
The Guest: Brad Wayland with Quiet Light Brokerage
The podcast episode featured Brad Wayland, a seasoned professional with over two decades of experience in the online world.
Brad has successfully bought and sold numerous websites, and his insights shed light on the benefits of staying focused on a single project rather than getting distracted by multiple ventures.
The Importance of Singular Project Focus
Throughout the podcast, Brad emphasized the significance of dedicating oneself to a singular project. He argued that successful clients at Quiet Light have achieved significant growth by focusing solely on one thing and grinding every day for an extended period of time.
The Downside of Diversification
While some may argue in favor of having a diverse portfolio of websites and digital assets, Brad cautioned against falling into the trap of the shiny object syndrome. He stressed that the biggest risk of taking on multiple projects is neglecting important tasks and not dedicating enough time and energy to each one. Brad believes that being a solopreneur and staying focused on one website can lead to remarkable success in the online business world.
Lessons from Personal Experience
Drawing from his own experiences, Brad shared stories and arguments supporting the idea of focusing on a single project. He mentioned buying a design blog for $50,000 and recouping his investment within 10 short months. Brad has witnessed the immense value of singular project dedication and advises against spreading resources too thin.
The Financial Background as a Foundation
Brad’s background in finance, accounting, and business development played a significant role in shaping his perspective on online entrepreneurship. He began his career in corporate accounting but found himself unsatisfied and drawn to explore other opportunities. Having entrepreneurial experiences in high school and college, such as running his own painting business and selling products, set the stage for his journey into the online business world.
Passion and Expertise
One pivotal moment in Brad’s career was when he joined a custom t-shirt business and became fascinated with the data behind website traffic and analytics. Attending conferences on search engine optimization (SEO) and working on ranking websites for free, he gradually honed his skills. Although he achieved considerable success with the t-shirt business, Brad realized that his true interests lay in the web and e-commerce. Following a friend’s suggestion, he bought a design blog and saw the potential in owning a content site that required full-time SEO work.
Overcoming Challenges: Staying Focused
It is no secret that the online business landscape can be challenging. Brad acknowledges that unexpected issues, such as changes in search engine algorithms or sudden drops in traffic, can greatly impact website performance. This is why he firmly believes in the power of staying focused on a single project. By dedicating themselves to one objective, online entrepreneurs can effectively address challenges and achieve steady growth.
The Danger of Chasing Opportunities
Brad highlights the temptation to chase after different opportunities instead of staying committed to a single project. He warns against falling prey to the shiny object syndrome and emphasizes the importance of dedicating time and effort to rethinking strategies should a project face obstacles.
The Downside of Buying Websites Without Strategy
In the podcast, Brad openly admits to being addicted to buying websites and not focusing enough on long-term strategy. He emphasizes the potential pitfalls of buying without a clear plan. This can result in problems and falling behind in terms of content quality. Brad learned this the hard way and warns others against making the same mistake.
The Value of Expertise and Passion
Throughout the discussion, Brad stresses the importance of being an expert in the chosen field and being genuinely passionate about it. He advises entrepreneurs to carefully consider their passion and interest in a particular industry or field before pursuing it. Passion fuels long-term success, and expertise is an essential driver of high-quality content.
Digital PR: Leveraging Seasonal Trends
The podcast conversation also touched upon the efficacy of digital PR for building links to a client’s website. Brad shared an example of using a guide while asleep on a plane to attract journalists’ attention and secure links on news websites.Identifying what journalists want to write about and providing them with relevant information can be powerful in earning juicy links.
The Risks of a Portfolio Approach
Brad cautions against a portfolio of websites, as it can add unnecessary responsibilities and increase risk. He emphasizes that diversification in the web industry may not be realized through a portfolio, as the success of all assets relies on a single platform or traffic source. To mitigate such risks and achieve substantial results, Brad advises focusing on a single project.
The Importance of Maximizing Efforts
The podcast episode concludes with a call to maximize efforts and productivity in the online business landscape. Brad emphasizes the need for evaluation, risk assessment, and a focus on return on investment. By prioritizing dedication, hard work, and staying focused on one business, entrepreneurs can increase their chances of achieving significant success.
Contact Information and Closing
For those interested in further advice or potential business valuations, Brad provides his contact information during the podcast. His expertise and insights can prove invaluable to anyone seeking guidance in the online business world.
