As web site and blog owners, we have a lot to deal with. If we have an established authority site that thousands of people are reading every day, we can appreciate the time and effort it takes to build up a site to that level.
With that said, there are plenty of new, scrappy and established web sites and domain names being sold on after markets, expiration services and auction sites like Flippa.com every day. Being able to look through these lists of sites for sale and knowing which have potential and which shouldn't even be an after thought, is the difference between bringing your business to another level… or potentially falling a few steps back.
Let's take a look at some of the key factors in deciding if a new web site or domain name purchase is right for you and your business, and a few things you need to keep an eye out for.
I'll be scrolling through the most active listings on Flippa all the time, and I will come across some real gems! However, many of these sites are in niches and areas that I really don't know too well. Anyone who already has a successful web site will truly appreciate the value in knowing everything about your niche and how to be awesome at it.
If you end up purchasing a new web site that looks like a great deal and a solid business, you may end up biting more than you can chew, as you will have to learn a whole new business model and effective practices. Some buyers may even find they are losing hold of their established business as they aren't focusing on what's currently making money, while trying to learn the day to day operations of a new site.
Buying Blogs with Stats, Revenues and Growth
When looking through web sites and blogs that are for sale on the open market place, nothing is more exciting than seeing a web site up for sale that you already visit and read every day. This is exactly what happened when I saw Blogging Tips for sale on Flippa a few years back. I already knew the owner Kevin from a few emails we sent back and forth over the years, so I knew a little bit about the owner of the site, but no idea on the actual revenue/profit numbers until the actual auction posting was up.
With all of that said, this is all important because when sites are listed for sale on an auction there is a lot of options for things to change quickly. In between the auction time, by now prices and other bidders possibly winning a site you are interested in, it's important for you to have a good idea on how much money you can make with a web site, if all of their revenue/traffic stats are correct and lastly, how much you can bid and afford to pay for a site.
Knowing When to Act on a Solid Opportunity
As mentioned, Flippa is one of the most active places for buying blogs, web sites and domains… and there are thousands of listings live on the site at any given time. With all of those opportunities at hand, it's important to only act on the best ones that make sense for you, your business and your budget.
In addition to Flippa, there are also plenty of domain name after market services that will monitor and grab domain names for you when they expire. NameJet and Pool are two of the most popular services out there, and you can actually make a list of domains that you would like them to monitor and grab, should they ever expire.
I monitor these sites every day and look at what domain names are on the chopping block and potentially up for grabs. This is how I was able to secure one of my latest blogging adventures, which is a ppc blog and quickly becoming an authority site on it's own, as we continue to add new content and features to the site daily.
I never initially had plans to build a pay per click marketing blog, but since the opportunity came up to secure the domain name, and it's already focused in a niche that I'm extremely knowledgeable in, it just made sense. This is the perfect example of an opportunity that comes up that you MUST act on.
Online Business is All About Reach and Scalability
As we all know, building a business online is as much about your service or product, as it is about how many people you can reach. Whether your site is ranked #1 or deep in the results, there is always room for improvement. If you can continue to expand your business by buying up new properties and established web sites, that is excellent! However, it's just as easy to get side tracked and start buying up sites that take away time for your real business and make you lose focus. This is something you have to stay away from. Stay within your niche and what you are good at, and don't be afraid to wait for those golden opportunities to come to light!
Have you ever thought about buying blogs or websites to expand your business?