In this article, we'll discuss the incredible journey of Jaryd Krause, a former plumber who turned his dream of financial freedom into reality through strategic online business acquisitions. Ten years ago, Krause was a frustrated plumber, yearning for a different life. Today, he owns multiple thriving online businesses and helps others do the same. Krause's remarkable success rate distinguishes his story. While 90% of startups fail, Krause managed to buy and grow three profitable online businesses in just three years.
This article explores Krause's transformation and the strategies he used to succeed. Krause's experience provides insightful information for anyone considering work alternatives, whether they are dissatisfied with their current position, interested in online business, or both. Let’s get right in!
Jaryd Krause
The plumber’s frustration
In 2013, Jaryd Krause was working as a plumber, but his heart wasn't in it. He dreamed of traveling and having more control over his time. Like many people stuck in unfulfilling jobs, Krause felt there had to be more to life than the daily grind.
The monotony of fixing leaky pipes and unclogging drains wore on Krause. He found himself constantly thinking about the places he could be exploring and the experiences he was missing out on. The contrast between his current reality and his aspirations became increasingly stark.
Instead of just complaining, Krause decided to take action. He began exploring ways to make money online, hoping to build a lifestyle that allowed for more freedom and adventure. This decision marked the beginning of a challenging but ultimately rewarding journey.
First attempts and setbacks
Krause's initial forays into online business were far from successful. He started a travel blog, thinking he could earn money writing about exotic locations. Despite his enthusiasm, the blog failed to attract readers or generate income.
Undeterred, Krause tried his hand at e-commerce, setting up an online store to sell travel gear. However, with no experience in digital marketing or SEO, his store struggled to attract customers. Sales were minimal, and Krause's dreams of online success seemed to be slipping away.
These early failures were discouraging, but they also provided valuable lessons. Krause began to understand the complexities of online business and the skills he would need to succeed.
A new perspective
Just when Krause was considering giving up, he came across a statistic that changed his outlook: 90% of startups fail. For many, this would be disheartening. For Krause, it sparked an idea.
He realized that instead of starting a business from scratch, he could buy an existing business that had already survived the difficult early stages. This insight shifted his focus from creating a new business to acquiring and improving an established one. (Buying Online Businesses)
The first purchase
Armed with this new strategy, Krause made a bold move. He invested $15,000 – a significant amount for a plumber – to buy a membership site that provided information for dropshipping businesses.
This decision marked a turning point. Krause was no longer just dreaming about online success; he was actively participating in the digital business world. The risk was considerable, but so was the potential reward.
Expanding the portfolio
Krause's first business purchase was just the beginning. Over the next three years, he acquired two more online businesses. This rapid expansion demonstrated Krause's growing expertise in identifying promising ventures and his ability to improve their performance.
With three profitable online businesses under his belt, Krause was able to leave his plumbing job behind. He had achieved his goal of creating a lifestyle that allowed for more freedom and travel.
Krause’s approach to business growth
Krause's success wasn't just luck. He developed a methodical approach to acquiring and improving online businesses. Instead of making drastic changes, Krause carefully studied each business and its market. He focused on enhancing what was already working and eliminating ineffective practices.
This data-driven approach allowed Krause to make informed decisions and avoid costly mistakes. He also emphasized creating systems and processes that allowed the businesses to run smoothly even when he wasn't actively managing them.
Unlike many online entrepreneurs who look for quick profits, Krause focused on building sustainable businesses. He chose to invest in evergreen niches – markets with consistent demand over time. This long-term perspective allowed him to build a portfolio of businesses that could provide a steady income for years to come.
Navigating SEO and online marketing
Krause recognized the importance of search engine optimization (SEO) in online business success. However, he viewed SEO as more than just trying to please search algorithms. Krause focused on creating genuinely valuable content for users across various platforms.
This user-first approach not only improved search rankings but also built loyal customer bases for his businesses. It also helped his ventures remain resilient in the face of frequent algorithm changes.
Risk management in a volatile market
As Krause's online business portfolio grew, so did his understanding of risk management. He developed a keen eye for potential pitfalls in online businesses and learned to thoroughly evaluate potential acquisitions.
Krause's approach to risk was balanced. He didn't avoid risk entirely but rather took calculated risks based on careful analysis. This strategy helped him navigate the often turbulent waters of online business while minimizing potential losses.
Sharing knowledge
As Krause's success grew, so did his desire to help others achieve similar results. He founded BuyingOnlineBusinesses.com, a platform dedicated to teaching others how to replicate his success in acquiring and growing online businesses.
Through this venture, Krause shares practical, hands-on advice based on his real-world experiences. His teaching covers everything from identifying promising businesses to implementing growth strategies.
Advice for aspiring online entrepreneurs
For those looking to follow in his footsteps, Krause emphasizes several key points:
- Focus on securing adequate funding, whether through savings, loans, or investors. Krause stresses the importance of having enough capital not just to make the initial purchase, but also to fund improvements and weather any initial setbacks.
- Educate yourself thoroughly about online business models, market trends, and digital marketing. Krause believes in continuous learning and staying up-to-date with the latest developments in the digital world.
- Develop skills in areas like financial analysis and business valuation. Understanding the true value of a business is crucial when making acquisition decisions.
- Cultivate a resilient mindset, ready to learn from failures and persist through challenges. Krause emphasizes that setbacks are inevitable, but it's how you respond to them that determines your success.
- Start with a clear goal in mind. Whether it's achieving financial independence, having more time for family, or being able to travel, having a clear 'why' can help you stay motivated during tough times.
Krause stresses the importance of understanding not just the potential rewards of online business ownership, but also the risks and demands. He encourages aspiring entrepreneurs to be realistic about the work involved while remaining optimistic about the possibilities.
Conclusion
Jaryd Krause's transformation from a frustrated plumber to a successful online entrepreneur offers valuable lessons for anyone considering a similar path. His story demonstrates that with the right strategy, mindset, and willingness to learn, it's possible to build a thriving online business portfolio.
Krause's success in acquiring and growing three profitable businesses in just three years stands out in a field where failure is common. His approach of buying established businesses, making data-driven improvements, and focusing on long-term sustainability provides a blueprint for others to follow.
As the digital ecosystem continues to evolve, Krause's strategies remain applicable. His journey shows that online business can offer a path to financial independence and lifestyle flexibility. For those feeling trapped in unfulfilling jobs or dreaming of a different life, Jaryd Krause's story offers both inspiration and practical guidance.
While the path to online business success is rarely easy, Krause's experience proves that it's achievable with dedication, smart strategy, and continuous learning. The lessons gained from Krause's journey can aid in guiding your path to success in all aspects of digital business, regardless of whether you're thinking about starting your first online firm or want to grow your existing portfolio.
Krause's story is a reminder that extraordinary changes are possible, even for those starting from ordinary circumstances. Narratives such as Krause's offer hope for the future of work in the digital era, as more individuals look for alternatives to conventional career pathways.
Who knows? The next digital success story could be yours. All it takes is that first step, that decision to change your life.
