How to Flip Websites
Flipping websites is one of the most talked about ways to make money in today’s internet frenzied environment. And when done right, it is also one of the easiest and most profitable ventures one can do online without a lot of experience.
Before getting on to flipping websites, it is necessary that we understand the way the internet works – in terms of demand and supply. Not just on the internet, anywhere in the business world, demand and supply are what drive the economy, and the same is applicable to the realm of internet real estate also – i.e. websites. This is of two kinds – domain names and prepared websites.
For both, there are different market places, and while some of them deal with both domain names and prepared websites, it is always to our advantage if we deal with specialists – for the precise reason that our site flipping experience is enriched and we make more money.
While flipping domain names, we need to first understand which kind of domain names sell in the market, and to do that, we need to learn the various kinds of domain names available – in terms of extensions, naming of the domains (like LLLL, VCVC, and so on), and the different domains which are available on sale and resale online. In the beginning, we start with simple domain names that are either related to a genre, or simply domain names that have high recollection value so people can turn them into businesses.
For websites, the philosophy is entirely different. It is all economies of scale, and unless the website has been properly optimized and monetized (preferably with some kind of money flowing in each month), we can’t expect it to sell high. There are kinds of websites – like affiliate sites, membership sites, self-updating sites, and many more. Each of these websites has its own kinds of buying clientele, and it is up to us to find them.
The best way to find buyers is to target the specialist website sales places, as that is where the serious buyers prowl. Though listing in those areas is costlier than on generic buy-sell places like eBay, we usually get more value for the sites there as the clientele there appreciates the effort put in by the seller.
Going back to the drawing table, there are two clearly demarcated paths in the career of site flipping.
- To look and make a quick buck, primarily dealing with domain names or ready made sites
- To leverage our time, money, and efforts in creating a website that has a future and not just for the short term.
Depending on the path we choose, the entire strategy will change.
One final advice – learn from someone who has been there and done that either in the form of one-on-one counseling, or in the form of a well documented book. The investment will pay off many times over in the first week itself!
