ASK a few of Australia’s best-known entrepreneurs for tips about earning extra cash and they are generally more likely to explain to you to have flipped.
Don’t be offended. It can be sound advice because ”flipping” – buying rundown websites, sprucing them up then selling in a profit – is, apparently, where it’s at.
It will be the digital equivalent of renovating a house before putting it back on the market at a higher price, only without the back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping real estate, it’s simple to increase the value of websites,” Melbourne flipper David Jenyns says. ”To increase the value of property, you have to do something significant, labour-intensive and, usually, expensive, like building a new bathroom.
”But with websites, you may make small changes including link building from other sites or improving the overall look for little cost.
”That result can be a significant rise in value.”
Jenyns, the owner of MelbourneSEOservices.com, makes large numbers of dollars online through tips to start flipping website and ”domaining”, buying keyword-rich domains, stuffing all of them with content designed for google search optimisation (SEO) and selling at a profit.
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Among his success stories is forextradingstrategies, that he bought for $10 and sold for $ten thousand after spending $100 to get SEO-friendly articles written for the site.
The Jenyns domaining repertoire includes wrestlingmoves, which had been sold for $2000; WoodWorkingProjects.org ($1495) and fireplace-design.org ($997). He paid $10 for each domain and approximately $150 to create the accompanying websites.
”Flipping offers the lowest barrier to entry compared to practically any other business out there,” says Jenyns, who in 2001, aged 19, made a good name for himself – and $70,000 – selling bits of the old Ponsford stand from the MCG as memorabilia.
”You only need so that you can begin to see the diamond from the rough where you can plan of methods to unveil it,” he says.
”Even when you haven’t got the technical know-how, you can engage a freelancer from the freelancing site, who will make it happen.”
Award-winning Australian entrepreneur Matt Barrie, one among Australia’s brightest digital stars, runs such a site, freelancer, a supply of freelancers for the digital projects essental to flippers, like logo design, website programming and Facebook app development.
Freelancer.com is probably the biggest flips for all time. When Barrie bought the internet site during 2009, during the time called getafreelancer, it looked, in the words, ”grey, utilitarian and horrible, similar to a high-tech Ukrainian prison”.
Nearly three years later, sporting a revamped interface and new name, it has signed up a lot more than 2.8 million employers and freelancers and all the different people earning money, 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 built to extol the virtues of saving a rare breed of hippopotamus.
The truth is, most of Barrie’s freelancer.com staff greater than 100 range from site, a predicament he says represents a ”seismic change in the world’s labour markets”.
”It’s never been easier to begin an organization and it’s never been more cost-effective,” says Barrie, whose own flip turned over over $US40 million ($38.6 million) this current year and has dispensed about $100 million since the original site opened in 2004.
Barrie came upon the getafreelancer.com site while constructing a shop site.
Needing 1000 components of data entered into a spreadsheet, he was unable to find anyone to get it done and reluctantly placed the position on getafreelancer.
Within three hours, he had 74 tenders ranging from $2000 to $100 coming from a team in Vietnam.
He picked the Vietnamese team and the spreadsheet was returned three days later.
”It was perfect,” says Barrie, who realised the world’s labour-market model was potentially near dramatic change and immediately set about developing a similar site before discovering getafreelancer was on the market.
He sought funding, bought the web page, tweaked it and managed to get more friendly to Western users. ”The site’s revenue doubled in twenty four hours when we finally changed the graphics and, after a while, we’ve incorporated other changes, including rebranding and renaming the old site,” he says.
And what of arguments in regards to the West exploiting Third World labour, albeit digitally?
”A huge area of the world’s population survive $10 each day or less and today they can jump internet and earn in one day what they would earn in the month and why shouldn’t they?” Barrie says.
”They are simply as smart as us, just like motivated and need work as much as we do.”
Barrie cites the illustration of a young woman in the Philippines who now makes $400,000 each year turning out logos for businesses and websites all over the world.
Freelancer.com’s top freelancer earns a whopping $1 million annually creating small $65-$100 websites and selling these people to businesses that want fast and affordable web presences.
Another spectacularly successful flip is buy and sell domain name, the king from the internet’s domain-flipping destinations.
The two-year-old Melbourne-based digital marketplace will this month clock up more than $60 million in website sales and hosts more than 1000 potential buyers and sellers of domains and websites every minute.
Although the digital offerings on Flippa range from $1 domains to 6-figure websites, many of them are flipped websites that sell for under $10,000, normally about $2000 a pop.
Flippa just last year 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, that has been sold for $250,000, and BlogTopSites, which went for $117,000 in April last year.
Flippa may now be the world’s biggest website marketplace nevertheless it, too, started as a flip.
”I’d found this little site, called webmaster-resources.com, run from a guy named Matt Mickiewicz away 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 a few software I found myself selling and, eventually, he asked basically if i might help him with 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, made a decision to partner Harbottle and also the duo spent the following year rebuilding and rebranding as sitepoint.com, which quickly became a popular spot to sell websites, particularly flipped ones.
After achieving a long period of 150 % growth, the pair, still located in different hemispheres, decided to spin out your 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 last year.
”I had not a clue if it was going to be 3 months or three years when I started however nowadays I become to accomplish the things i love and also this whole experience has allowed me to perform a lot of cool stuff, especially helping others with great ideas,” Harbottle says.
”And everything started with a $400 investment inside a little Canadian website.”
1 Except if you simply wish a pretty site or perhaps to get buff your digital portfolio, don’t just get a site mainly because you enjoy it. Be sure to consider the trouble to perform your due diligence before handing over any cash and find out when it is able to turning revenue. Examine the site’s Alexa ranking, glance at the revenue and potential revenue, as well as what technology your internet site is produced from. If it’s in an obscure language and also you won’t be able to find customers to code it, there’s little point.
2 Go for premium domains. You could always fix the information however, if the domain is worthless or irrelevant, you’ll have to work doubly hard. Domains that include natural keywords are best.
3 Look into the quality of the user base, how many users (and what number of options are active), where they’re originating from and exactly how they can be being acquired.
4 Pay money for quality content to become written for your site (when you can’t try it for yourself). You may then utilize these articles to publish to other sites to acquire links in your site. This will markedly improve the SEO on your new site.
5 Make sure to ask the vendor all your questions before sending the money: what is included (each of the code, original, editable graphics) and what exactly is not included (installation, changes); are you selling this page or perhaps a site as if it again; precisely why are you selling; may be the content unique for the site or created especially for dexopky60 site?; exactly how much ongoing support will the vendor supply?
6 Start small. There’s much to learn and also you won’t be capable of learn it through just reading regarding it. Buy a small website with the maximum amount of money as possible afford to lose and also have a play. Try out a $50-$100 site and find out about what works and what doesn’t. Enjoy the selling and buying of how to become expert adventurer, precisely what is involved, what you get and the things you didn’t.
THE world’s No.1 marketplace for digital goods is crammed using more than 100,000 potential sellers of flappable sites and buyers of flipped sites.
IF THERE’S anything you wish to learn about flipping, YouTube is surely an invaluable teaching tool. Look at Google’s Webmaster Channel particularly for internet search engine optimisation basics (and a few advanced tips, too).
SPEND the time to master Google Analytics (or any alternative analytics you may choose to use). At the beginning it may be like gobbledygook but once you learn what every one of the numbers and squiggles mean, you’ll start to see through the haze and learn what individuals want on the sites.
An Incredible resource for anything concerning the world wide web and websites along with marketing. On the list of 15,565,000-plus posts, strategies to just about everything you might ask already are there – of course, if they’re not, just ask among their 492,000-plus members. See forums.digitalpoint.com.