Pivot and Profit: Buying and Selling Web Sites Quick Review – from Flip this Web Site

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hey my name is Declan done and having been in this business for 15 years I get to run into great people like Zach Johnson and sometimes and blessed even do some coaching with them and the greatest part of that is I get to learn from them and what I want to share with you is the insights I learned from reading Zach’s book flip this website because being sort of an old-time internet guy I’m used to building things by myself creating teams and coaching people and entrepreneurs how to do this but that’s a smaller skillset many don’t have the skills Zach obviously does but what I’m learning from flip this website what I want to show you the little tour of flippa is how to buy a website and really ask you the question why why build a business when you can leverage success now flip this website is the new book he has out but what it really taught me was focusing on a site called Flippa even though you can buy and sell websites at other places flippa is a 50 million dollar company and is doing something really cool and innovative that i want to show you and what’s most important to remember here is that this isn’t just about buying and selling domains you can certainly do that at Flippa but it’s much more about buying and selling websites see blind selling domains is ok but you still have to build a business so what I want to talk and show you is how this actually works and give you some answers not just answers on how to do it but answer specifically from showing you three examples of people who have recently sold sites on flippa and how you can evaluate and work them so the two key skills that I found is that if you’re going to buy a web business just like buying a business in the real world or buying a house that you want to flip and sell later on you’re either going to buy something that somebody hasn’t optimized that you can add value to or you’re going to buy something that you can leverage in your network to be able to generate more and more revenue and I’ll show you some examples of what I mean but remember you really need to skills tech savvy some people need to be technical I mean being able to code do HTML things like that that’s one skill or you need to be internet marketing savvy the best people have a little bit of both and let me show you what that’s about now here’s a site called flippa and i went there and i searched under the just sold sites right here and what I was looking for saying what was sold recently we can learn from it how I can evaluate a business just like you would buy a business what its revenue is what its traffic is email lists what are you really buying and what do you have to bring to the table to turn it into something better Zach talks and flip this website about taking a jewelry site that wasn’t converting well because he’s a smart internet marketer and he was able to leverage his skills to generate more revenue than them but what I found here was really amazing because the first one on the list here is actually a site called recruiting blocks and as you see here what’s happening is Flippa gives you a really easy way to take a look and evaluate whether this site is good so you’ll see things obviously you can go to the site this one was sold for ninety-five thousand dollars and it has a description search stats Alexis that’s Google stats revenue stats were applicable and this guy actually did not state revenue but he does have a site with HR human resources people and professionals career based and an email list of 50,000 people that was generating a significant amount of traffic so you can see how he valued it and as you scroll down a flip of what’s really cool is they even give you a place to comment and ask the person during the bidding process the person who’s selling it the truth about the site so I got really interested what would take something that was built in 2007 and sell for 97 95 thousand dollars so i take a look at the site and here’s the cool part this guy i wouldn’t say is too technical he created a ning site but what he created was a community and he community and one in a highly valuable market jobs careers human resources he has professionals in there much like herro har o was sold by having newspaper writers what I can see here is that his valuation was based on the quality of his audience now obviously this might be a lot of money for you guys but I want to show you something what’s really interesting is anyone can set up a name but people can’t manage grow and build a business so this is one that’s not only successful but obviously has revenue and revenue making capabilities he has ads he is an email list there’s a tremendous amount of potential here but what I love is if you’re building a business think about it he built this on a Ning platform just like somebody could build on a social media platform really really powerful now let me show you another example because this one’s just sort of a grassroot one of the biggest stories I found just yesterday and here’s another one I found I took a look at a site that was sold for twenty thousand dollars in internet marketing site now the difference here is he’s stating that he is over 48,000 in net profits so obviously there were a lot of questions and he lists he’s also got a site and an email us great traffic so you get all the stats about buying the business how much traffic does it have if you can how much revenue does it make and does he validate the revenue in fact what’s great is if you look in the comments section here there are lots of questions about are you making money or what’s the truth is this real and what’s great is his reaction was to post some of the sirnas like his affiliate earnings and other earnings that he has there’s a series of them posted on the site what’s really brilliant about flip is it not only allows you to post but unlike ebay allows you to interact with the person who sell on the site and again this ties into the internet marketing skill it was very tied to the warrior forum and somebody in that niche could find is very valuable and apparently they did to buy it for twenty thousand dollars now finally I want to show you a little bit of the technical end because this is actually the site excuse me that they bought for twenty thousand dollars is really pretty simple it’s a squeeze page but it also is a continual source of revenue and is a very smart with an autoresponder series positioning and search all these things and great copy so what they’re really buying is something that will probably cost them from scratch at least twenty thirty thousand dollars right but they’re buying a business not just a one-off solution now finally I took a look and said okay let’s look at one of the lower end sales why would somebody buy something on the lower end and here’s where the tech skills come in because you’re either having tech skills or you’re an internet marketers my best recommendation because obviously if there’s something that’s in there and you need to revamp and leverage it you’ll pay less for it but you need to build the value into it in internet marketing like Zack that could be adding conversion to a jewelry site as when he purchased and talked about in the book in this site there’s a guy who created an alternative to tumblr and it also has an iphone app now this is really key he coated it himself so obviously it’s not just based on wordpress or something like that which might be a benefit but it will take somebody with a little technical savvy but the cool part is somebody just got an iphone app for 3500 dollar I’m assuming it’s a pretty nice iphone app you could download it you can check all this out because Flippa they do a 30 day bidding process so you can take a look over that time period to see the site the iphone app in this case and why did he sell it while i took a look and went down and he actually states that he built it to a certain point and he didn’t have the time in other words he’s built the foundation can you build the house in real estate terms can you build something around this because tumblr is very very popular this one has lots of traffic has lots of really cool tools all the technical stuff is set up except you’ve got to be able to manage the app and obviously his coating of the system that he has to run this whole site it’s nothing wrong with that it’s not rocket science it’s my sequel and PHP for those who are tech-savvy but you can clearly see that if you’re going to be tech-savvy you need to go into a market you’re going to get something cheaper so let’s take away I’ll have is this the two key skills you need to have to buy or sell a website is tech savvy or internet marketing those are my key insights because if you have that why create something from scratch why build it there’s so much out there search engine positioning there’s great sights on flippa with keywords and things like that what’s really interesting is what’s evolving is the businesses matured you don’t have to do it by yourself anymore you don’t have to be like me from the old days who always does things and that’s okay that’s what I do but for many of you going in you can buy and sell businesses and this is what flip this websites about is a whole thing moving beyond just flipping domains which I love domains by the way nothing against them but majan buying and selling a business and the key thing is to remember if you go in is this a business that you can leverage your skills and can you turn it into something more valuable that’s why you buy anything buy low sell high and for some of you who are starting out it’s a great idea especially if you know internet marketing to find it I mean a guy sold a ning site for ninety-five thousand dollars but remember wasn’t just a ning site it was a community with loyalty and a big list on a very very lucrative market another guy sold an internet marketing site which is basically a squeeze page but with a list and a whole system and process that allowed him to sell for 20,000 and the last one I found for 30 500 was sort of a startup how many of you can buy a business heck you go to seminars for thirty five hundred dollars imagine buying a business and having something that you can monetize with existing traffic so you don’t have to start from scratch my name is Declan I’m done with his pivot and profit insights from flip this website thanks talk to you soon