ASK a number of Australia’s best-known entrepreneurs for tips about earning extra cash and they are generally prone to tell you to obtain flipped.
Don’t be offended. It can be 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 same in principle as renovating a residence before putting it back out there at a higher price, only without 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 add value to property, you want 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 off their sites or enhancing the overall appearance for little cost.
”That result can be a significant rise in value.”
Jenyns, the dog owner of MelbourneSEOservices.com, made large numbers of dollars online through make money flipping website and ”domaining”, buying keyword-rich domains, stuffing them content suited to internet search engine optimisation (SEO) and selling at a profit.
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Among his testimonials is forextradingstrategies, which he bought for $10 and sold for $10,000 after spending $100 to obtain SEO-friendly articles written for your 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 every domain contributing to $150 to setup the accompanying websites.
”Flipping provides the lowest barrier to entry compared with virtually 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 in the MCG as memorabilia.
”You only need to be able to view the diamond inside the rough and have a plan of how to unveil it,” he says.
”Even if you haven’t got the technical know-how, you are able to engage a freelancer from the freelancing site, who makes it happen.”
Award-winning Australian entrepreneur Matt Barrie, among Australia’s brightest digital stars, runs this kind of site, freelancer, a source of freelancers for the digital projects essental to flippers, such as logo design, website programming and Facebook app development.
Freelancer.com is one of the biggest flips in recent history. When Barrie bought the web page in 2009, at the time called getafreelancer, it looked, in his words, ”grey, utilitarian and horrible, such as a high-tech Ukrainian prison”.
Nearly 3 years later, sporting a revamped interface and new name, it has registered over 2.8 million employers and freelancers and the plethora 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 within the jungles of Africa needing a poster built to extol the virtues of saving a rare type of hippopotamus.
In fact, many of Barrie’s freelancer.com staff of over 100 come from the site, a scenario he says represents a ”seismic shift in the world’s labour markets”.
”It’s never been so easy to start out an organization and it’s never been more cost-effective,” says Barrie, whose own flip turned over over $US40 million ($38.6 million) this coming year and has dispensed about $100 million ever since the original site opened in 2004.
Barrie came upon the getafreelancer.com site while constructing a shop site.
Needing 1000 items of data applied for a spreadsheet, he was unable to find anyone to make it happen and reluctantly placed the work on getafreelancer.
Within three hours, he had 74 tenders including $2000 to $100 from the team in Vietnam.
He picked the Vietnamese team along with the spreadsheet was returned three days later.
”It was perfect,” says Barrie, who realised the world’s labour-market model was potentially on the verge of dramatic change and immediately set about creating a similar site before discovering getafreelancer was available for purchase.
He sought funding, bought the web page, tweaked it and managed to make it more friendly to Western users. ”The site’s revenue doubled in one day when we changed the graphics and, after a while, we’ve incorporated other changes, including rebranding and renaming that old 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 and now they are able to jump internet and earn in a day what they would earn in the month and why shouldn’t they?” Barrie says.
”They are merely as smart as us, in the same way motivated and wish employment as much as we do.”
Barrie cites the example 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 each year creating small $65-$100 websites and selling those 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 a lot more than $60 million in website sales and hosts more than 1000 potential sellers and buyers of domains and websites every minute.
Although the digital offerings on Flippa range from $1 domains to 6-figure websites, a lot of them are flipped websites that sell for less than $10,000, generally 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, 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 nevertheless it, too, started as being 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 current year made his debut on the BRW Young Rich List with an estimated great deal of $40 million.
”I was buying advertising space on his website for some software I found myself selling and, eventually, he asked me should i may help him with all 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, chose to partner Harbottle as well as the duo spent the following year rebuilding and rebranding as sitepoint.com, which quickly was a popular place to sell websites, particularly flipped ones.
After achieving several years of 150 % growth, the pair, still located in different hemispheres, decided to spin 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 just last year.
”I had no idea whether it was going to be 90 days or 3 years once i started but today I recieve to perform a few things i love and also this whole experience has allowed me to complete lots of cool stuff, especially helping others with great ideas,” Harbottle says.
”And all this started with a $400 investment within a little Canadian website.”
1 Until you would just like a fairly site or to build muscle your digital portfolio, don’t just invest in a site for the reason that you like it. Be sure you consider the trouble to perform your homework before handing over any cash and see if it is effective at turning revenue. Check the site’s Alexa ranking, look at the revenue and potential revenue, along with what technology your website is constructed from. If it’s in a obscure language so you won’t be able to find people to code it, there’s little point.
2 Choose premium domains. You could always fix the information but if the domain is worthless or irrelevant, you’ll have to work doubly hard. Domains that include natural keywords are the best.
3 Investigate the excellence of the user base, the amount of users (and what number of them are active), where they’re originating from and the way they are being acquired.
4 Pay money for quality content to get written for your site (should you can’t try it for yourself). Then you can utilize these articles to share to other sites in exchange for links for your site. This may markedly increase the SEO on your new site.
5 Be sure you ask the vendor your questions before sending the funds: precisely what is included (every one of the code, original, editable graphics) and what is not included (installation, changes); are you gonna be selling this website or possibly a site as if it again; why are you selling; may be the content unique to the site or created especially for dexopky60 site?; simply how much ongoing support will the seller supply?
6 Start small. There’s a great deal to learn and you also won’t have the capacity to learn it through just reading about it. Purchase a small website with just as much money as you can manage to lose and also a play. Use a $50-$100 site and learn about the things that work and what doesn’t. Go through the selling and buying of being adventurous, what 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 want to understand more about flipping, YouTube is definitely an invaluable teaching tool. Have a look at Google’s Webmaster Channel specifically for search engine optimisation basics (and a few advanced tips, too).
Take the time to master Google Analytics (or any alternative analytics you may choose to use). In the beginning it will look like gobbledygook but once you learn what each of the numbers and squiggles mean, you’ll learn to see throughout the haze and learn what folks want on your sites.
A Wonderful resource for anything with regards to the world wide web and websites in addition to marketing. On the list of 15,565,000-plus posts, techniques to almost anything you could potentially ask already are there – and when they’re not, just ask certainly one of their 492,000-plus members. See forums.digitalpoint.com.