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Gone are those days when working in offices or having businesses were the only ways to make money. With digital growth, there’s growth in earning ways though the Internet. There are a myriad of doors that you can open for quick money making. In the digital era, you can earn exponentially or part-time by sitting at home through the Internet. The reason money making through online tools is getting popular is because users don’t have to devote the fixed hours, or having a boss on the head or someone to follow up for increment in monthly salary. How much money you make online totally depends on your potential and determination for it.
There are data entry jobs, content writing, blogging (popularly known), e-tuitions, website flipping and others to name a few in this try-your-luck online money making business. Let us focus one of the emerging online ways, i.e. Website flipping, which is increasingly catching people’s attention.
“Website Flipping” What’s this?
As the name suggests, website flipping includes buying old website (usually at least 12 months old), renovating and selling it on a profitable margin. One may easily relate it with property dealing business wherein the dealer purchases a potential property lives in it and renovates it for a few months before selling it at quite a higher amount. Website flipping may also lead to an unbeatable fair profit or if poorly managed an even higher loss. Let’s find out why to one should choose website flipping over other popular ways of earning online.
Differences between Website flipping, Blogging and E-tuitions
|Money investment||Costs of buying, renovating, promoting the website.
Costs to be lowered down if reach step is researched properly.
|Costs of buying website, making SEO friendly and promotional costs (if required)||Costs of setting up a website and promotional costs.
Costs are minimal if getting linked on other’s website.
|Time investment||Depends on experience. Takes less time with growing experience.||Requires considerable time as blogs are to be posted frequently for making a stable number of readers’ visit.||Usually fixed timings for e-classes.|
|Risk factors||Risks are minimal if well researched||Takes longer to popularize||E-market competition|
|Earning capacity||Higher depending upon person’s potential.||High if properly managed.||Usually good|
Skills for website flipping business
As easy as it may sound, but the fact is that website flipping is not everyone’s cup of tea. One needs to develop or have certain skills to be able to generate generous amount of profit through this business. Here is what may help you with website flipping-
- Brand building skills
- Negotiation power for buying at low and selling higher
- Market awareness
Milestones for higher profit in website flipping
Select domain– Selecting domain name or niche is like selecting the type of business you want to invest in. A knowledge based selection is always better as you may not need to research again. It would be better if you are clear about content that would match the website name perfectly. It basically justifies the type of content you are having, hence making it even more important for attracting the right kind of potential buyer for the website.
For example- Cashoverflow.in, moneycontrol.com, moneybies.com are apparently about the money matters. But what if you get to know that one of these is a Bollywood entertainment website? It would be hard to imagine, isn’t it? That is why, one need to match the content as per name to catch the perfect audience for the website.
Purchasing low– Once you’re clear with the domain name concept, another step comes in picture. It is one crucial step for a better earning out of the flipping business. The key is that you purchase the website at real low price. But how is this possible? Few points to consider here are-
- Research market thoroughly.
- Sign up on trading platforms.
- Add desired domains in your watch list.
- Be aware about the prospective domain names update.
- Watch for economic conditions, new rules and trends in the market.
- Be assumptive about the fluctuation in prices based out of the above facts.
- Be the first one to get it when price lowers down.
Be 24*7 active for watching up the fluctuations.
Playful renovation– Once you have invested your money in the purchase, it’s time to get the real tasks done. Website renovation includes A-Z improvements or changes depending upon the present condition of it. Prepare a list of points having current stats of the website like Google page rank, Alexa ranking, organic and referral traffic, Adsense, link building of the website etc., at present. Now, work on it one by one. Start with the basic things, having an apt theme, content etc. You can do it yourself or hire somebody having expertise in this.
P.S- “Remember to be playful and do it as whole heartedly as renovating your own home! “
Building traffic – Once you have renovated the website, it’s time to mark a good impression of it in people’s mind. It simply means we have to work on building the reputation part now. Just like a brand name, which anyone’s ready to pay for anytime!
Few simple ways to promote it are-
- Social Media– Who isn’t aware about Facebook, twitter, Instagram and other social media platforms. They are extremely popular among youth and are gaining popularity among the elderly people too. You must utilize these for effective marketing.
- Strong networking– Word of mouth still plays a vital role in enhancing the image of anything. Got strong networks? Utilize them now!
Selling– Take enough time to renovate and build reputation of the website. Don’t be in a hurry at all. They are the major factors resulting in the high or low earning through this flipping business. Once you believe you’re at par with your expectations and listed steps, you may now start searching for potential buyers.
Glimpse about trading platforms
Online market is growing enough to provide you plenty of trading websites for flipping online. One actually doesn’t need to go anywhere else than these. Just sign up on the trading website and you’ll be able to interact with buyers and explain them the worth of your website. Present your website like it has been best priced or under-priced for selling while it’s worth more than this. Few of the most popular website/ domain trading platforms are-
- • Flippa.com (Most popular one)
- • Sedo.com
- • Digitalpoint.com
- • Buysellwebsite.com
- • Webistebroker.com
- • Sitepoint.com
Happy website flipping!!