How To Make Money With Flippa – Part 1
When it comes to truly succeeding in internet marketing, it all comes down to buiding “assets”!
Just like in any other business, valuable assets that other parties will want to acquire, and use to increase the value of their own business, is where the money’s at!
In the digital world, websites are the internet’s “real estate”. And you can bet that once a website has a real world value, others will become interested in purchasing them.
Among the many platforms that deal with buying and selling websites, the biggest fish in the pond is Flippa.com
So today, let’s focus on the basics of working Flippa:
1. Do your homework
Lurk and watch various auctions on Flippa before daring to dive into the action.
Do some serious research and observation, it will pay off. Don’t rush into becoming a Flippa trader until you fully understand what’s going on.
You’re going to find all kinds of sites being offered on Flippa.
Ranging from boilerplate sites with cheap content that are selling for $25, all the way up to elaborate, professionally managed sites that gross thousands of dollars a month, and selling for five to six figures.
2. Learn and understand how and why people buy sites on Flippa
Develop a clear understanding of what constitutes a quality Flippa seller, as well as a motivated Flippa buyer.
Whichever side you take on a deal, you’re going to want to emulate them as much as possible.
3. Understand what makes websites valuable
When it comes to identifying valuable websites, get these questions answered:
- How do sites generate revenue? Do they have an online store? Adsense? Affiliate offers?
- What’s the operating cost and running overhead?
- What marketing and promotion strategies do they utilize?
- Are the revenue and traffic claims verifiable?
- If purchasing a site, how much time will it take to be “in profit” on a deal?
4. Due diligence is important!
Know about the niche or market that you’re planning on entering as a site seller or buyer. It’s also important to know a niche well and understand where the money’s at!
5. Identify the prime demographics of your target customer
You’re going to want to learn about what products and services they’re interested in, as well as their needs and preferences.
6. Plan Ahead
To paraphrase Ben Franklin, “failing to plan is planning to fail”.
The more you plan and prepare for anything that may lie ahead, the better off you’ll be.
Observe and identify the marketing strategies and techniques that work best within a certain niche. Then, figure out how you can use them to your advantage.
Crunch the hard numbers, including sales and revenue projections based on real-world data.
If you can’t verify the revenue that a particular site seller claims is being generated, assume that it’s non-existent. Never take anything at just facevalue!
Now that we’ve covered the Flippa basics, we’ll cover specific strategies on how you can profit.