ASK some of Australia’s best-known entrepreneurs for recommendations on earning extra revenue and are generally more likely to tell you to have flipped.
Don’t be offended. It really is sound advice because ”flipping” – buying rundown websites, sprucing them up then selling at a profit – is, apparently, where it’s at.
It will be the digital same in principle as renovating a residence before putting it back available on the market at a higher price, only minus the back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping real estate property, it’s easy to add value to websites,” Melbourne flipper David Jenyns says. ”To increase the value of property, you have to do something significant, labour-intensive and, usually, expensive, like developing a new bathroom.
”But with websites, you may make small changes including building links from other sites or boosting the overall look for little cost.
”That result can be a significant rise in value.”
Jenyns, the homeowner of MelbourneSEOservices.com, makes thousands and thousands of dollars online through flipping website for profit and ”domaining”, buying keyword-rich domains, stuffing them with content suitable for internet search engine optimisation (SEO) and selling in a profit.
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Among his success stories is forextradingstrategies, which he bought for $10 and sold for $ten thousand after spending $100 to possess SEO-friendly articles written for that site.
The Jenyns domaining repertoire includes wrestlingmoves, which was sold for $2000; WoodWorkingProjects.org ($1495) and fireplace-design.org ($997). He paid $10 for each and every domain contributing to $150 to put together the accompanying websites.
”Flipping provides the lowest barrier to entry compared with virtually any other business around,” says Jenyns, who in 2001, aged 19, made a good name for himself – and $70,000 – selling bits of the existing Ponsford stand from the MCG as memorabilia.
”You only need so that you can begin to see the diamond inside the rough where you can plan of how to unveil it,” he says.
”Even when you haven’t got the technical know-how, you can hire a freelancer from your freelancing site, who makes it happen.”
Award-winning Australian entrepreneur Matt Barrie, certainly one of Australia’s brightest digital stars, runs this sort of site, freelancer, a way to obtain freelancers for that digital projects required by flippers, including logo design, website programming and Facebook app development.
Freelancer.com is among the biggest flips for all time. When Barrie bought the web page during 2009, back then called getafreelancer, it looked, within his words, ”grey, utilitarian and horrible, just like a high-tech Ukrainian prison”.
Nearly three years later, sporting a revamped interface and new name, it offers signed up more than 2.8 million employers and freelancers and the range of people making profits, either by selling their services or hiring them, is diverse, from programmers and graphic designers to, the other day, a scientist in the jungles of Africa needing a poster made to extol the virtues of saving a rare breed of hippopotamus.
In reality, many of Barrie’s freelancer.com staff of over 100 range from site, a scenario he says represents a ”seismic shift in the world’s labour markets”.
”It’s never been easier to get started on a business and it’s never been more cost-effective,” says Barrie, whose own flip turned over a lot more than $US40 million ($38.6 million) this current year and it has dispensed about $100 million since the original site opened in 2004.
Barrie came upon the getafreelancer.com site while building a shop site.
Needing 1000 bits of data entered a spreadsheet, he was incapable of find anyone to get it done and reluctantly placed the job on getafreelancer.
Within three hours, he had 74 tenders which range from $2000 to $100 from the team in Vietnam.
He picked the Vietnamese team as well as the spreadsheet was returned 3 days later.
”It was perfect,” says Barrie, who realised the world’s labour-market model was potentially near dramatic change and immediately set about constructing a similar site before discovering getafreelancer was for sale.
He sought funding, bought the site, tweaked it and managed to make it more friendly to Western users. ”The site’s revenue doubled in twenty four hours after we changed the graphics and, with time, we’ve incorporated other changes, including rebranding and renaming the previous site,” he says.
And what of arguments regarding the West exploiting Third World labour, albeit digitally?
”A substantial area of the world’s population live on $10 a day or less now they can jump online and earn in one day anything they would earn within a month and why shouldn’t they?” Barrie says.
”They are just as smart as us, in the same way motivated and want a job as much as we all do.”
Barrie cites the example of a young woman within the Philippines who now makes $400,000 per year turning out logos for businesses and websites around the globe.
Freelancer.com’s top freelancer earns a whopping $1 million each year creating small $65-$100 websites and selling these to businesses that want fast and affordable web presences.
Another spectacularly successful flip is purchasing expired domain names, the king from the internet’s domain-flipping destinations.
Both the-year-old Melbourne-based digital marketplace will this month clock up a lot more than $60 million in website sales and hosts over 1000 potential buyers and sellers of domains and websites every minute.
Though the digital offerings on Flippa range between $1 domains to six-figure websites, most of them are flipped websites that sell for under $10,000, normally about $2000 a pop.
Flippa a year ago hosted the sale of FaceMash.com ($30,000), Mark Zuckerberg’s Facebook predecessor, famously created during his time at Harvard University, and also Retweet.com, which had been sold for $250,000, and BlogTopSites, which went for $117,000 in April just last year.
Flippa may now be the world’s biggest website marketplace however it, too, started like a flip.
”I’d found this little site, called webmaster-resources.com, run by a guy named Matt Mickiewicz from Canada,” says co-founder and former Sausage Software programmer Mark Harbottle, who this season made his debut on the BRW Young Rich List with the estimated wealth of $40 million.
”I was buying advertising space on his website for several software I used to be selling and, eventually, he asked me generally if i may help him with all the site’s promotion and marketing.
Despite a $500,000 offer of sale from a 3rd party, Mickiewicz, a 16-year-old working from his bedroom, chose to partner Harbottle and the duo spent the next year rebuilding and rebranding as sitepoint.com, which quickly became a popular place to sell websites, particularly flipped ones.
After achieving several years of 150 percent growth, the pair, still located in different hemispheres, chose to spin the website sales arm into Flippa.
Today, Flippa and its particular three allied websites (99designs, sitepoint and learnable) employ 110 people on three continents and hosted about 20,000 website sales a year ago.
”I had little idea if this would be 3 months or 3 years as i started however nowadays I have to do a few things i love and that whole experience has allowed me to complete lots of cool stuff, especially helping others with great ideas,” Harbottle says.
”And everything started by using a $400 investment inside a little Canadian website.”
1 If you do not would just like a fairly site or get buff your digital portfolio, don’t just purchase a site for the reason that you enjoy it. Make sure to consider the trouble to accomplish your due diligence before handing over any cash and learn if it is competent at turning a return. Examine the site’s Alexa ranking, consider the revenue and potential revenue, and also what technology your website is built from. If it’s inside an obscure language and you also won’t be able to find people to code it, there’s little point.
2 Choose premium domains. You could always fix the content however if the domain is worthless or irrelevant, you’ll ought to work doubly hard. Domains that have natural keywords are the best.
3 Check out the expertise of the user base, how many users (and what number of them are active), where they’re from and exactly how these are being acquired.
4 Pay for quality content being written for your personal site (should you can’t do it yourself). After that you can use these articles to share for some other sites in exchange for links in your site. This will markedly raise the SEO in your new site.
5 Be sure to ask the vendor all of your questions before sending the money: precisely what is included (all the code, original, editable graphics) and exactly what is not included (installation, changes); will you be selling this page or a site like it again; why are you selling; is the content unique towards the site or created specially for dexopky60 site?; exactly how much ongoing support will the seller supply?
6 Start small. There’s a great deal to learn and you won’t be capable of learn it through just reading regarding it. Get a small website with as much money that you can afford to lose and have a play. Try a $50-$100 site and find out about the things that work and what doesn’t. Experience the selling and buying of how to become expert adventurer, what exactly is involved, everything you get and the things you didn’t.
THE world’s No.1 marketplace for digital goods is crammed exceeding 100,000 potential sellers of flappable sites and buyers of flipped sites.
IF THERE’S anything you need to understand flipping, YouTube is an invaluable teaching tool. Take a look at Google’s Webmaster Channel especially for internet search engine optimisation basics (plus some advanced tips, too).
Take the time to understand Google Analytics (or any alternative analytics you may choose to use). Initially it will look like gobbledygook but once you understand what all the numbers and squiggles mean, you’ll start to see through the haze and learn what folks truly want on your sites.
A FANTASTIC resource for anything with regards to the web and websites in addition to marketing. One of the 15,565,000-plus posts, strategies to just about anything you could potentially ask are already there – of course, if they’re not, just ask one among their 492,000-plus members. See forums.digitalpoint.com.