ASK a number of Australia’s best-known entrepreneurs for advice on earning extra revenue and they are generally very likely to explain to you to have flipped.
Don’t be offended. It is actually sound advice because ”flipping” – buying rundown websites, sprucing them up then selling at a profit – is, apparently, where it’s at.
This is the digital same as renovating a property before putting it back in the marketplace at the higher price, only minus the back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping property, it’s easy to increase the value of websites,” Melbourne flipper David Jenyns says. ”To increase the value of real-estate, you must do something significant, labour-intensive and, usually, expensive, like creating a new bathroom.
”But with websites, you could make small changes for example link building from other sites or improving the overall appearance for little cost.
”That result might be a significant rise in value.”
Jenyns, the dog owner of MelbourneSEOservices.com, has created hundreds of thousands of dollars online through buying and selling website tips and ”domaining”, buying keyword-rich domains, stuffing these with content designed for online search engine optimisation (SEO) and selling with a profit.
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Among his testimonials is forextradingstrategies, that he bought for $10 and sold for $ten thousand after spending $100 to obtain SEO-friendly articles written to the site.
The Jenyns domaining repertoire includes wrestlingmoves, that has been sold for $2000; WoodWorkingProjects.org ($1495) and fireplace-design.org ($997). He paid $10 for each and every domain contributing to $150 to create the accompanying websites.
”Flipping offers the lowest barrier to entry in comparison with just about any other business around,” says Jenyns, who in 2001, aged 19, created a reputation for himself – and $70,000 – selling bits of the existing Ponsford stand from your MCG as memorabilia.
”You only need in order to see the diamond inside the rough and have a plan of methods to unveil it,” he says.
”Even if you haven’t got the technical know-how, it is possible to employ a freelancer from the freelancing site, who makes it happen.”
Award-winning Australian entrepreneur Matt Barrie, among Australia’s brightest digital stars, runs this sort of site, freelancer, a way to obtain freelancers to the digital projects essential to flippers, like logo design, website programming and Facebook app development.
Freelancer.com is amongst the biggest flips ever. When Barrie bought the website in 2009, during the time called getafreelancer, it looked, within his words, ”grey, utilitarian and horrible, just like a high-tech Ukrainian prison”.
Nearly 3 years later, sporting a revamped interface and new name, it has registered more than 2.8 million employers and freelancers and the range of people creating wealth, either by selling their services or hiring them, is diverse, from programmers and graphic designers to, the other day, a scientist within the jungles of Africa needing a poster designed to extol the virtues of saving a rare type of hippopotamus.
The truth is, many of Barrie’s freelancer.com staff in excess of 100 come from the site, a predicament he says represents a ”seismic shift in the world’s labour markets”.
”It’s never been easier to start a company and it’s never been more cost-effective,” says Barrie, whose own flip turned over over $US40 million ($38.6 million) this season and possesses dispensed about $100 million because the original site opened in 2004.
Barrie came upon the getafreelancer.com site while creating a shop site.
Needing 1000 items of data applied for a spreadsheet, he was struggling to find anyone to make it happen and reluctantly placed the position on getafreelancer.
Within three hours, he had 74 tenders ranging from $2000 to $100 from the team in Vietnam.
He picked the Vietnamese team along with 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 developing a similar site before discovering getafreelancer was available for sale.
He sought funding, bought the website, tweaked it and caused it to be more friendly to Western users. ”The site’s revenue doubled in twenty four hours when we finally 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 large portion of the world’s population survive $10 each day or less and today they can jump internet and earn in one day whatever they would earn in the month and why shouldn’t they?” Barrie says.
”They are only as smart as us, in the same way motivated and wish a job nearly as much as we do.”
Barrie cites the instance of a young woman inside the Philippines who now makes $400,000 per year turning out logos for businesses and websites worldwide.
Freelancer.com’s top freelancer earns a whopping $1 million a year creating small $65-$100 websites and selling these to firms that want quick and affordable web presences.
Another spectacularly successful flip is how to flip domain name, the king in the internet’s domain-flipping destinations.
The two-year-old Melbourne-based digital marketplace will this month clock up over $60 million in website sales and hosts greater 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, the majority of them are flipped websites that sell cheaper than $10,000, on average about $2000 a pop.
Flippa last year hosted the sale of FaceMash.com ($30,000), Mark Zuckerberg’s Facebook predecessor, famously created during his time at Harvard University, in addition to Retweet.com, that has been sold for $250,000, and BlogTopSites, which went for $117,000 in April last year.
Flippa may certainly be the world’s biggest website marketplace but it really, too, started as being a flip.
”I’d found this little site, called webmaster-resources.com, run from a guy named Matt Mickiewicz from Canada,” says co-founder and former Sausage Software programmer Mark Harbottle, who this current year made his debut about the BRW Young Rich List with an estimated great deal of $40 million.
”I was buying advertising space on his website for several software I had been selling and, eventually, he asked basically if i will help him using the site’s promotion and marketing.
Despite a $500,000 offer of sale from a 3rd party, Mickiewicz, then this 16-year-old working from his bedroom, chosen to partner Harbottle as well as the duo spent the subsequent year rebuilding and rebranding as sitepoint.com, which quickly became a popular place to sell websites, particularly flipped ones.
After achieving many years of 150 per cent growth, the pair, still residing 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 just last year.
”I had no idea whether it would be ninety days or 3 years after i started these days I recieve to accomplish a few things i love and also this whole experience has allowed me to do a great deal of cool stuff, especially helping others with great ideas,” Harbottle says.
”And everything started by using a $400 investment within a little Canadian website.”
1 If you do not would just like a pretty site or bulk up your digital portfolio, don’t just invest in a site due to the fact you like it. Make sure to use the trouble to perform your homework before handing over any cash and discover when it is competent at turning a return. Look into the site’s Alexa ranking, consider the revenue and potential revenue, in addition to what technology your internet site is produced from. If it’s in a obscure language and you won’t manage to find people to code it, there’s little point.
2 Select premium domains. You could fix this content however, if the domain is worthless or irrelevant, you’ll need to work doubly hard. Domains that have natural keywords are best.
3 Look into the excellence of the user base, just how many users (and how many of these are active), where they’re provided by and just how they can be being acquired.
4 Buy quality content to be written for your personal site (when you can’t diy). After that you can start using these articles to share for some other sites to acquire links to the site. This will likely markedly raise the SEO on your new site.
5 Be sure to ask the owner your entire questions before sending the amount of money: exactly what is included (all the code, original, editable graphics) and exactly what is not included (installation, changes); will you be selling this website or a site as if it again; why are you selling; is the content unique towards the site or created particularly for dexopky60 site?; exactly how much ongoing support will the vendor supply?
6 Start small. There’s much to learn and you won’t be able to learn it through just reading about it. Invest in a small website with just as much money as you can manage to lose and have a play. Try out a $50-$100 site and understand the things that work and what doesn’t. Enjoy the selling and buying of how to become expert adventurer, precisely what is involved, the things you get and everything you didn’t.
THE world’s No.1 marketplace for digital goods is crammed with over 100,000 potential sellers of flappable sites and buyers of flipped sites.
IF THERE’S anything you want to find out about flipping, YouTube is surely an invaluable teaching tool. Take a look at Google’s Webmaster Channel particularly for internet search engine optimisation basics (and a few advanced tips, too).
Take the time to understand Google Analytics (or any alternative analytics you may choose to use). In the beginning it will look like gobbledygook but once you understand what every one of the numbers and squiggles mean, you’ll begin to see from the haze and learn what people want on your sites.
An Excellent resource for anything to do with the web and websites in addition to marketing. On the list of 15,565,000-plus posts, answers to just about anything you might ask already are there – and if they’re not, just ask one of their 492,000-plus members. See forums.digitalpoint.com.