Today, completely by accident, I stumbled upon a little secret that will give you a 40% discount on your Flippa listing fee. It’s not a coupon code, it’s a special discount they offer to certain website sellers. Keep reading to find out how you can enjoy $17 listing fees instead of the usual $29. Continue reading “Flippa.com’s Secret 40% Discount “Coupon Code””
One of the keys to getting the highest price for a website when it comes time to sell is to find the right buyer. Once you’ve identified the right kind of buyer for your website, you can either contact them directly or go directly to the places your buyers typically shop for websites. Those are the places where it’s best to sell a website. This article and corresponding infographic aims to identify the options you have to sell your website and which might be the best fit for your particular case. Continue reading “Where to Sell a Website”
We just finished up the latest seminar for entrepreneurs who are interested in buying and selling websites.
At the event, one of the most popular handouts was a list we put together of the top places to buy and sell websites. The list had the top 15 sites just focused on buying and selling online businesses, several sites focused on offline as well as online businesses and a shorter list of forums that post sites for sale.
If you want to buy websites or you want to list a site for sale, I’d highly recommend checking out the list and sharing it with as many people as you’d like, just give the page credit.
You can get the list at BuyingandSellingWebsites.com
This simple technique can increase views to an auction page by 300%, but very few people actually use it.
Why? There is some work involved. Yep, anything worth doing that creates amazing results typically requires a little work.
In this case, it’s a Press Release. Don’t go running off just yet. Although the use of press releases has been widely talked about and recommended by many online marketing experts for years, there is still a hesitation by many to use them.
The reason for the hesitation is simply that a press release requires the work of writing the content and a small fee to get circulated. However, the fees of press release options have come down a lot over the years. I recall paying more than $750 for one press release almost ten years ago and with a lot less exposure than it would get now. Continue reading “Increase Visibility of Website Auctions By 300%”
The Internet Investment Summit is a three-day live event for anyone interested in buying, selling or flipping websites. If you are an investor in sites, you need to be at this event.
If you’ve been waiting for a place to meet serious entrepreneurs and investors who are involved in buying, selling, flipping and investing in websites, this event is it. Continue reading “Buying and Selling Websites Summit”
Are you considering selling your website and would like to know how to value the site? Perhaps someone has approached you and offered to buy your site. Maybe the idea of cashing out on your website for a lump sum appeals to you. Whatever your motivation is for selling, you need to know what price tag to put on it. That’s what this post is all about.
8 Things That Add Value to a Website
The first step to understanding how to value your site is to put yourself in the shoes of your potential buyer. Why are they interested in your site to begin with? More than likely it’s for one or more of the following reasons: Continue reading “How to Value a Website”
Your Website Isn’t Sell-able Because of YOU!
This can be the case more than you might think. I’ve recently been consulting with a large online retailer website that’s had fantastic success running a drop ship operation as a family business.
In the midst of a bad economy, he has 8 years of solid growth, and is projected to break $2 Million in sales this year!
The business is amazing, and I’ve been able to become intimately familiar with all the day to day operations. It’s a great business, in an evergreen market, and it’s growing at a rate of about 50% a year.
But, this website and business isn’t ready to sell, yet. Why? Because if the current owner left town tomorrow, it would crumble.
Is that what your business is like?
One of the most difficult things to overcome in a website you’re ready to sell, is the business’ dependence upon you. And oddly enough, when you actually achieve building a business that grows and thrives whether or not you’re around, you end up not wanting to sell it!
It’s important to build your business, doing everything through the lens of this question: “Does this make my business more sell-able?” Because should the day come that you DO want to sell it, you’ll only be able to do so if YOU are able to leave.
So, here’s a few things you can do to make your business less centered around your own personal efforts to keep it running.
1.) Apply the 80/20 rule. A lot of great books talk about the 80/20 rule, but in a nutshell, it basically means that 80% of your success, is derived from 20% of your effort. Which means the other 80% of the time you spend in your business, is likely the stuff you’re wasting time on, and it doesn’t make you more money. Find out what that one most important thing is, and immediately find alternative ways to get the other stuff done by other people, software, or systems.
2.) Create process maps. Boil it down to a science. “My business includes doing X, Y, and Z.” Color by numbers. As you’re working each day, take detailed notes on what it is you’re doing so that someone else could easily pick it up and follow the instructions, regardless of their level of experience.
3.) Hire people! This isn’t always the answer, but it’s less scary than most people make it out to be. You probably CAN afford to do it. You just don’t think you can because you don’t know the value of your own time. Imagine if you weren’t spending 8 hours a day doing something that could be done by an employee? Are there more profitable tasks you could be focusing on in that time?
4.) Don’t be an expert on everything. It’s a great way to become a bottleneck. The guy I told you about above is a victim of this very thing. He’s SO knowledgeable in his field, that everyone asks him for answers to Google-able questions. Force people to know stuff. Make it a point to let others be experts about things you don’t need to be.
What are some other things you can do to make your website and business less dependent upon you? leave your thoughts in the comments below!
It seems as though the entire web has gone social. There are a ton of thoughts on this subject, and the purpose of this post isn’t to do an expose’ on the effects of Google +1 or facebook likes. However, one undeniable result of Google’s shift towards the social side of things is a crucial element for every marketer worth their weight in gold: Social PROOF.
There’s just something about our nature that is attracted to follow the crowd. Not only when it comes to making decisions, but when it comes to measuring the success of others. When it comes to making decisions (especially about a purchase), few selling tactics have as powerful of an effect as a long list of satisfied customer testimonials. But when it comes to measuring success and getting others to jump on your bandwagon, the tool of choice is social response in the form of a vote.
Take a look at some of the web’s top social bookmarking sites like Digg.com, or StumbleUpon.com. When something get’s voted for enough times, it gets picked up and syndicated all across the web. A post that experiences what some have called the “Digg effect” (server crushing traffic from reaching Digg’s first page), goes through a snow ball effect. The more people who Digg, the more people that see the story, which in turn leads to more Diggs…You get the point.
Then came the Facebook “Like”. The same snow ball principle is at play, it’s just a much steeper hill with more force pushing the ball. The viral effect of the Facebook “like” has made many people overnight internet celebrities, given YouTube videos millions of views, and increased online businesses overall fan bases (and value) by untold amounts.
The question everyone is asking, is how will the Google +1 button effect business owners and websites? Well, in an attempt to keep good on my promise to not discuss all the stuff you’ve probably read 1,000 blog posts about already (SERP changes, etc…), I’d like to point out the one change that could make you more money as a flipper: Social proof.
If success is measured by following the crowd, then having a high Google +1 count on your website’s content automatically infuses more perceived value into it. It tells potential buyers “people like my website.” Which gives them more confidence to make you an offer because the crowd is telling them it’s a good property to invest in.
#1 rankings are great…But being #5 with 10X as many +1’s as the guy who’s #1 in the SERPS tells potential buyers (and searchers) that your site is the site everyone likes the most.
So, the moral of the story is if you aren’t currently utilizing Google’s +1 button to add perceived value to your content, perhaps you should. You may even start seeing it in our posts here at FlipWebsites.com!
Have you ever seen the movie “Pretty Woman?” It’s the one with Julia Roberts and Richard Gear. My wife was watching it the other night and it got me thinking about website flipping.
If you’ve seen it, you’ll remember that Richard Gear plays a billionaire business takeover guy that preys upon struggling businesses, buys them out, and sells them off piece by piece to other companies.
In today’s post, I want to talk about doing the exact same thing when it comes to websites and group auctions. Let’s call this a Piece by Piece Website Flip.
One type of auction I see passed over by so many people in online marketplaces is the “group of 250 adsense sites” type auctions. Usually, there’s 1 or 2 sites in the bunch that make up the majority of the claimed income, and the owner is throwing in his collection to inflate the perceived value.
If you’re like most people, you don’t even give these auctions a serious look. I mean, who wants to pay to renew 250+ domains every year?! Who wants to go through with the hassle of transfering 250 sites to a different hosting account?
Sometimes, if you’re lucky, you can get the owner to sell you just one of the sites in the bunch, but more often than not they aren’t willing to separate the wheat from the chaff for fear of not being able to sell the chaff.
So, what’s a website flipper to do? Become Richard Gear!
When I see these types of auctions, I like to take a look at each site to sniff out ANY potential value in them. Even if the sites have zero traffic or revenue, the domains, content, and designs may be worth something. Even if only $25-$50 each.
Lets use the above example. You go to Flippa.com, and come across a listing that says “Network of 250 Adsense Sites for Sale”. The network of sites collectively earn about $350 per month, and over $300 of that is from less than 5 sites that are the real winners in the group.
The BIN is $3,000.
Also, the seller is absolutely UNWILLING to sell you the 5 money makers by themselves. They want you to take the whole bunch of them, or nothing at all.
After browsing through the 245 duds, you see that most of them have 5-10 quality original articles on them. They each have a decent looking design with a unique header graphic. In fact, the only reason they don’t make any money, is lack of traffic and ad placements.
So, with the domain names, site designs, and original content, you figure each site is worth about $30 to you.
You quickly place the BIN for $3,000, (primarily for the $350/month in adsense income from the main 5 producing sites), and you devise a plan for extracting that $30 per site from the rest of them.
Instead of being blindly optimistic, we’ll assume that we can only successfully extract that $30 per site from about 40% of them. So 40% of 245 sites = 98.
The plan is twofold:
1.) List the sites at eBay, digital point, and other cheap marketplaces where these types of sites will sell for $30 without much cost to you.
2.) Create a special offer at Warrior Forum or to your own marketing list to create “unique, high quality adsense sites with 5 + articles, graphics, & domains for $30 each”.
Between these two strategies, you successfully sell 98 sites times $30 for a cool profit of $2,940.
Your new income stream has paid for itself, and you still have 147 sites you can use for link building or whatever you want.
Perhaps this will give you a new perspective on monetizing auctions you normally wouldn’t give a second thought to.
Have you ever done a “piece by piece” flip? Have you ever broken down the assets of a larger site and sold them off piece by piece to other people? Better yet, have you ever bought a business and sold off chunks of ownership to 2 or more parties to recoup the initial spend?
Comment below with your thoughts on Richard Gear, piece by piece website flipping. We’d love to hear your thoughts.
Before discussing the specifics on how to flip a website, let’s first define…
What It Really Means to Flip a Website
So many things have been lumped into the topic of “website flipping” that actually don’t belong there. Much of it has polluted the marketplaces, and that is largely due to the amount of guru products on the subject leading people astray.
Website flipping is not:
- Creating sites from scratch to sell…Even if it’s down the road
- Creating turnkey sites to sell with zero traffic or revenue
These activities are more accurately placed under the banner of “site selling”. And there’s nothing wrong with it. Lots of people add tremendous value to the marketplace by creating valuable sites to sell. It’s what they do for a living.
However, it’s not what I consider “website flipping”.
The phrase “website flipping” is borrowed from the concept of flipping houses. Consider the buy and renovate concept of flipping houses. When people invest in a house to flip, it’s usually because they recognize some things (like new paint and carpet) they can add or fix to immediately increase the value of that home for resale.
So, what about people who build houses to sell them? Are they considered “flippers”? I’d call them builders or contractors.
So, what is website flipping and how do you do it?
Flipping involves buying low, and selling high. Not buying and keeping. Not building to sell.
Buying low and selling high…FAST.
Now, you may buy a website and sell it several years down the road. That can be considered flipping, but REAL “flipping” involves turning properties over a little faster in my opinion.
This skill is more of an art than a science. It’s truly a beautiful art! Why?
For the very reason you’re reading this blog, and the reason our marketplace of buying low and selling high has become so popular:
BIG – MONEY – FAST
It’s not for everyone though. I’m seeing a trend amongst the savvy long term investors in our marketplace towards buying to hold.
That’s partly because many people struggle to find anything worth buying in online marketplaces anymore. When they do, they aren’t very keen on letting it go.
Honestly, buying to hold is a very wise model. If you’re looking for information about how to do this the smart way, I’d invite you to check out BuyingAndSellingWebsites.com.
For the sake of this conversation, let’s assume we’re defining flipping as buying with the intention to sell quickly. It’s what we teach in our course Killer Flipping Secrets and is where you have potential to make big money fast.
How to Flip a Website
To flip a website, you need a special set of skills. You’ve got to be able to do at least 1 of 2 things very well. They are:
1.) Spotting areas of underdeveloped monetization opportunities, or traffic generation.
Ask questions like, “Can I add an up-sell to this site’s sales process?”, or “Can I raise the price of this product?”, or “Could I increase the targeted traffic to this site by creating a PPC campaign, or doing some SEO?”
In other words, look for areas that require little work to achieve huge potential results on the bottom line of that business you’re about to buy.
Know what you’re good at or what you’re able to outsource, and try spotting opportunities to apply those skill sets.
Buy low, sell high, immediately. That’s what arbitrage is all about.
Here’s the money question when it comes to selling an online business…
“Who stands to make the most money from owning this site?”
Answer that question and you’ll know who is also most likely willing to pay a lot more money to own it than what you can acquire it for.
This can also be done between marketplaces. Sometimes a site you find over at ebay.com can be sold for a lot more at Flippa.com.
Get familiar with the types of sites that sell well on the various marketplaces so when you find one listed lower than you’re used to seeing it listed for on another, you can scoop it up and sell it on the other site for a quick profit.
Fast Profits With Website Flipping
There’s so much stuff out there that people are teaching in forums and in ebooks that isn’t really geared towards the fast profits that can be generated using the above 2 concepts.
The entire appeal of flipping websites is fast profits. Don’t get me wrong, please. There’s nothing bad about buying to hold, or starting sites to sell. Those are good business models when done right, but they are not the same thing as flipping.
When I buy a site to flip, my goal is to get it renovated and sold inside 6 months. The time frame will depend on how much value I believe can be added fairly quickly and what’s involved in that process.
It’s only something I’d do if the potential upside of the flip is a large enough amount of money to justify the amount of time and work I’m going to put into the project.
If it takes longer than 6 months, or the potential margin of increase isn’t large enough to justify selling it again that fast, I wouldn’t take it on as a flip project.
That doesn’t mean I wouldn’t buy it to hold. That’s just a different conversation.
For those who are new to FlipWebsites.com, this should serve as a clear definition and brief introduction to answering the question “how to flip a website.”
For the faithful readers, and seasoned website flippers, perhaps this will serve as a reminder to get back to the basics of pure “flipping”.
Remember what flipping is about…
BIG – MONEY – FAST
Perhaps it’ll get you back on track if you’ve strayed the course or lost focus.
What do you think? Am I being too rigid with my definition of website flipping? Comment below and let me know.