We’ve all heard of people flipping real estate; buying the house for a low amount, doing some minor/major work on renovations and then selling for a profit. Now people are doing the same thing with websites, site flipping. But is it a fly by night profession or another great business avenue for people to take? In this article I want to dig a little deeper into the subject. Let me know what you think in the comments.
Concerns about site flipping
There are a few arguments I see a lot when talking about site flipping, one I see the most being the fact that quick built websites are ruining the quality of the internet. In my opinion, you can’t hurt the quality of a place with billions upon billions of websites already floating around google. Searching for “clinic” in google brings up 115 MILLION results. Now, building websites targeting this keyword really will not make a dent in he amount of quality information out there. So regardless if people think its wrong, you can still do it for and make a profit for it.
Build with quality in mind
Even if you’re putting up a website to just sell, you should still treat it as a website you’d be proud to tell people you own. Flooding the page with 20 ads but only have 500 words is not something (in my opinion) to be proud of.
If flipping is your game and you want to make a go of it, as always it starts with great content, a desire to make it work and a determination to keep going. I am a shining example of an entrepreneur who loves the thrill of the build, it is almost like a high but coming off it when heading into the “maintain it” stage of the lifecycle is when I get extremely bored and restless.
This is not uncommon, look over the history of the vast percentage of the fortune 500 companies and you will find that usually the founder is not the person running the company any longer.
So if your unique ability is in finding a niche, building a following, passing it off and doing it all over again this could be a very profitable business model for you.
In this economy – flip the coin over
With the daily economic doom and gloom that is shoved down our throats, it’s hard to remember that we are in the middle of one of the best buyer’s market we have seen in a long time. History has proven that more millionaires are created in a recession if you take advantage of the opportunities that present themselves when people are scared.
Buying websites may be one of the easiest of these markets to get into because I don’t think there is a lot of “noise” in this market yet. This blog is an example of the power of this. I had been looking and learning everything I could about online marketing when I stumbled on the marketplace at sitepoint.com and found this site for sale. It was inline with my passion, had a great community and I saw that I could provide value to the readers and have a place to build credibility for myself without having to start from scratch and presto here I am.
Now when this economy turns around I will have an asset that I can choose to keep or be able to sell when it is the right time to do so. I believe that in the future websites that have strong ranking, a big following and good content will catch the eyes of bigger companies wanting to get a foot up on the competition.
Either way I’m left with choices and that is never a bad thing.
I came across this video yesterday and I had to share it with you all. It just goes to show you that anyone can make an impact and anyone can go viral.
The video has almost had 3.7 million views and was posted on March 16th. That is 3.7 million seeing the Samsung brand!
Have a great weekend!
At some point in your life you may wake up with a feeling of despair. One where you just can’t bear to continue with your current business project, speak to the same people, and do the same monotonous tasks.
When Marcus Buckingham, author and motivational speaker, works with someone facing this problem, he asks them three important questions:
Why this business? What is its broader purpose?
Who are you working with?
What exactly do you do with your business?
By exploring these questions, you can isolate the real reasons you are unhappy with your business. Often we can be enchanted with the idea behind our work or with our employees, making us loyal to a business that is not meeting our personal needs
The people you work with may keep you working a business with no opportunity for expansion. You may like preparing documents and giving presentations, but you may no longer care about your business’ mission or goals. Dedication to a business helping people may keep you working with doctors and nurses you despise.
These questions will help you gain a deeper understanding of your relationship with your business and what you really value from the experience. These elements can help you reassess what you truly wish to accomplish and possibly create an entirely new business model.
We often get involved with a business or industry based on an idealized conception. I had a friend with this experience in college. She started working at the tutoring center on campus because she loved the idea of helping people learn. The students she worked with, however, expected her to fix their mistakes and act as a proofreader. They were not interested in learning anything. Thinking her difficulties were based on the setting, she began tutoring for a specific department on campus, but her experience was the same. After spending two years following a dream that never became reality, she quit tutoring and became a reference librarian. Now, she helps people find information, but she is not expected to give them all the answers.
In order to avoid an experience like hers, ask yourself specific questions during your business discovery process. We have conceptions which go with certain titles, which may actually vary greatly depending on your specific industry. Networking mixers or chamber of commerce functions can provide excellent opportunities to find out more about your target business and determine if it matches your ideas and values. Make sure you are clear on the responsibilities and procedures you will need to perform to achieve success. Being informed will help you separate dreams and preconceptions from reality.
You need to know what you value before you go full-speed ahead with your business. Often, we think of our values as principles in the back of our minds that govern our actions. However, letting our values marinate in our subconscious means that we may not understand why we act in certain ways.
To begin laying out your values system, try the following:
- Think about your family upbringing and religious background. What were the major lessons and principles you learned from these sources? Are they right?
- Consider how you treat others. Should you act in this way? Is this how you want to be treated?
- Remember how you have been treated. Do you approve?
After you have answered these questions, ask yourself “Am I consistent?” If you are, you have a clear understanding of your principles. If you aren’t, you need to think more about what is important to you. If you understand your moral framework, you can choose a business path that will not weigh on your conscience, creating greater satisfaction in your life.
Need some ideas about setting up your guerrilla marketing strategy, check out this archived article.