ASK a few of Australia’s best-known entrepreneurs for tips on earning extra cash and they are more likely to inform you to get flipped.
Don’t be offended. It really is sound advice because ”flipping” – buying rundown websites, sprucing them up then selling at the profit – is, apparently, where it’s at.
This is the digital equivalent of renovating a home before putting it back in the marketplace at a higher price, only with no back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping property, it’s very easy to add value to websites,” Melbourne flipper David Jenyns says. ”To increase the value of real estate, you should do something significant, labour-intensive and, usually, expensive, like developing a new bathroom.
”But with websites, you may make small changes including link building utilizing sites or increasing the overall appearance for little cost.
”That result could be a significant surge in value.”
Jenyns, the property owner of MelbourneSEOservices.com, has created large numbers of dollars online through improving website for flipping and ”domaining”, buying keyword-rich domains, stuffing them content fitted to online 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 get SEO-friendly articles written to the site.
The Jenyns domaining repertoire includes wrestlingmoves, that was sold for $2000; WoodWorkingProjects.org ($1495) and fireplace-design.org ($997). He paid $10 for every single domain and about $150 to create the accompanying websites.
”Flipping gives the lowest barrier to entry in comparison with practically any other business on the market,” says Jenyns, who in 2001, aged 19, produced a term for himself – and $70,000 – selling bits of the previous Ponsford stand from your MCG as memorabilia.
”You only need so as to view the diamond in the rough and also a plan of how to unveil it,” he says.
”Even when you haven’t got the technical know-how, you can hire a freelancer from any freelancing site, who will make it happen.”
Award-winning Australian entrepreneur Matt Barrie, among Australia’s brightest digital stars, runs this type of site, freelancer, a supply of freelancers for your digital projects essential to flippers, like logo design, website programming and Facebook app development.
Freelancer.com is probably the biggest flips ever. When Barrie bought the web page during 2009, at that time called getafreelancer, it looked, in the words, ”grey, utilitarian and horrible, such as 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 the plethora of people earning money, either by selling their services or hiring them, is diverse, from programmers and graphic designers to, last week, a scientist from the jungles of Africa needing a poster made to extol the virtues of saving a rare breed of hippopotamus.
The truth is, many of Barrie’s freelancer.com staff in excess of 100 range from site, a scenario he says represents a ”seismic change in the world’s labour markets”.
”It’s never been simpler to get started on an enterprise and it’s never been more cost-effective,” says Barrie, whose own flip turned over more than $US40 million ($38.6 million) this year and possesses dispensed about $100 million because the original site opened in 2004.
Barrie came upon the getafreelancer.com site while developing a shop site.
Needing 1000 items of data entered a spreadsheet, he was struggling to find anyone to do it and reluctantly placed the task on getafreelancer.
Within three hours, he had 74 tenders ranging from $2000 to $100 from the team in Vietnam.
He picked the Vietnamese team and also 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 building a similar site before discovering getafreelancer was on the market.
He sought funding, bought the internet site, tweaked it and managed to get more friendly to Western users. ”The site’s revenue doubled in 24 hours after we changed the graphics and, after a while, we’ve incorporated other changes, including rebranding and renaming the existing site,” he says.
And what of arguments in regards to the West exploiting Third World labour, albeit digitally?
”A substantial part of the world’s population live on $10 each day or less now they could jump internet and earn in just one day whatever they would earn in the month and why shouldn’t they?” Barrie says.
”They are just as smart as us, equally as motivated and wish a job just as much as we all do.”
Barrie cites the demonstration of a young woman in the Philippines who now makes $400,000 each year turning out logos for businesses and websites around the world.
Freelancer.com’s top freelancer earns a whopping $1 million annually creating small $65-$100 websites and selling those to companies that want quick and affordable web presences.
Another spectacularly successful flip is purchasing expired domain names, the king from the internet’s domain-flipping destinations.
The 2-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.
Even though the digital offerings on Flippa range between $1 domains to six-figure websites, many of them are flipped websites that sell for less than $ten thousand, generally about $2000 a pop.
Flippa a year ago hosted the sale of FaceMash.com ($30,000), Mark Zuckerberg’s Facebook predecessor, famously created throughout his time at Harvard University, in addition to Retweet.com, which was sold for $250,000, and BlogTopSites, which went for $117,000 in April this past year.
Flippa may certainly be the world’s biggest website marketplace nevertheless it, too, started like a flip.
”I’d found this little site, called webmaster-resources.com, run by way of 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 by having an estimated wealth of $40 million.
”I was buying advertising space on his website for a few software I had been selling and, eventually, he asked basically if i might help him using the site’s promotion and marketing.
Despite a $500,000 offer of sale from a third party, Mickiewicz, a 16-year-old working from his bedroom, made a decision to partner Harbottle as well as the duo spent another year rebuilding and rebranding as sitepoint.com, which quickly became a popular spot to sell websites, particularly flipped ones.
After achieving a few years of 150 per cent growth, the pair, still living in different hemispheres, chose to spin out of the website sales arm into Flippa.
Today, Flippa as well as its three allied websites (99designs, sitepoint and learnable) employ 110 people on three continents and hosted about 20,000 website sales last year.
”I had little idea if it would be 90 days or 36 months when I started but today I recieve to accomplish what I love and also this whole experience has allowed me to perform plenty of cool stuff, especially helping others with great ideas,” Harbottle says.
”And all of it started having a $400 investment in the little Canadian website.”
1 Unless you simply want quite a site or even to build muscle your digital portfolio, don’t just purchase a site mainly because you like it. Be sure to go ahead and take trouble to do your homework before handing over any cash and learn should it be effective at turning a nice gain. Check the site’s Alexa ranking, consider the revenue and potential revenue, as well as what technology your site is constructed from. If it’s within an obscure language and you also won’t locate individuals to code it, there’s little point.
2 Select premium domains. You can fix this content however, if the domain is worthless or irrelevant, you’ll ought to work doubly hard. Domains that include natural keywords are the best.
3 Look into the expertise of the user base, how many users (and what number of them are active), where they’re originating from and how they may be being acquired.
4 Pay for quality content to become written for your site (should you can’t do it yourself). Then you can use these articles to post with other sites in exchange for links for your site. This will likely markedly raise the SEO on the new site.
5 Be sure you ask the seller your questions before sending the cash: what is included (all the code, original, editable graphics) and what exactly is not included (installation, changes); are you selling this page or perhaps a site want it again; precisely why are you selling; is definitely the content unique on the site or created especially for dexopky60 site?; just how much ongoing support will the seller supply?
6 Start small. There’s much to learn and you won’t be able to learn it through just reading regarding this. Buy a small website with just as much money as possible afford to lose and also a play. Use a $50-$100 site and find out about what works and what doesn’t. Experience the buying and selling of how to become expert adventurer, what exactly is involved, whatever you get and whatever 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 understand more about flipping, YouTube is surely an invaluable teaching tool. Have a look at Google’s Webmaster Channel particularly for search engine optimisation basics (plus some advanced tips, too).
Take the time to understand Google Analytics (or any alternative analytics you might want to use). In the beginning it will look like gobbledygook but once you learn what all the numbers and squiggles mean, you’ll start to see with the haze and learn what folks really want on the sites.
A FANTASTIC resource for anything related to the internet and websites and also marketing. On the list of 15,565,000-plus posts, solutions to most situations you could potentially ask are actually there – and in case they’re not, just ask certainly one of their 492,000-plus members. See forums.digitalpoint.com.