InternetTycoon launched a new program. I thought it worth checking out so I headed on over and took a peek. My comments below. Would be great to get your feedback.
The program claims to offer a "Step-by-Step Process That Lets (sic) You Buy High Value Websites At Rock Bottom Prices". They'll also teach you, they claim, how to "'Flip' Those Sites To Hungry Buyers For Big Profits!"
This is where I started getting a bad feeling. But I was on the site so I clicked the play button. The site promises information and tools to assist, fair enough and, "most importantly, a vibrant and inspirational community..." Ah, a competitor forum! And it's vibrant already? Fantastic! The video does all the classic, text book sales routine. You know the drill - by inflating the opportunity and the obstacles you can make your help in removing those obstacles seem more valuable.
I haven't been off the scene and, no, Kenny, I haven't noticed this.Unless you've been off the scene for a while you'd have noticed that All Internet Marketers Are Buying Up Websites and Domains like they are going out of fashion
So many that you have more time talking this nonsense than buying those goldmines up?Now is the time to start because there are so many undervalued goldmines out there
I've known about Kenny Goodman from InternetTycoon for a while. I was quite surprised to see he has been joined by Justin Gilchrist (flipfilter on these boards) of Flipfilter.com. I hadn't previously associated Justin with that kind of MMO marketing. Kenny's refers to Justin elsewhere as "The King of Website Trading" and says, "there isnít anyone on the planet who knows more about this Market than him." (I did listen to a bit of the interview and Justin, I must say, does come across as genuine and a lot more realistic while Kenny plays the BS expert. Apparently, the whole industry is lacking in "three pillars" e.g. "genuine information" ... and Kenny will provide them for you).
I've probably spent more time doing this than both of them put together. And I don't hold down a day job in a B&M business to be on the safe side. Long before they even got into this market, I've been doing it full time. I don't see what they see. They're either some very smart visionaries, or I'm losing my touch. But, if they have so much experience, I'm surprised they aren't aware thatBoth Justin and Kenny are the 'real deal' - people who have spent over a decade combined immersed in their field - buying, renovating, flipping and leasing 'Internet Real Estate'
1) There is massive more competition in the market to buy sites. Literally thousands of new buyers have entered this space as a result of numerous previous such courses. It is difficult to overstate just how many new buyers there are hunting for good buys and that severely reduces opportunity
2) The number of worthwhile new properties coming up for sale - across all prices ranges - has increased, if it has, by a tiny miniscule number in comparison
3) Cold calling/emailing webmasters with feelers to see if they'll sell is becoming less and less effective as most of them have already been emailed numerous times by others with similar pitches
4) The same with other non-Flippa routes to independent contact
5) As for Flippa itself, it has seen a massive drop in volume. Flippa is facilitating less than 50% of the dollar value of sales they were doing last year. This is a big deal - you've got thousands more buyers chasing a pool of websites for sale that's less then 50% of what it was a year ago! Flipfilter is the stats man, I'm happy if he proves me wrong.
Or are they fully aware and misleading their readers just so they can sell some product?
The site ends with the classic low entry offer - $1 for a week and if you forget to cancel, they'll automatically bill you $99 for every subsequent month. It's a legitimate marketing tactic, I suppose, but I can't help feeling there's an element of exploitation with any business using this method as marketers know that some people will forget to cancel their recurring charge after the first $1 payment.
Some of the tools look like they could be useful - and it may be worth signing up to test them - but the claims, including that there are "millions of hidden gems out there" and that there's still plenty of opportunity to flip sites for a huge profit, claims similar to those made by the so called "Internet Investment Summit", make me a bit nauseous.
A forum like this, the premier forum for discussion on website buying and selling, stands to gain from increased interest in the subject so I should be supporting all these new products, right? But, unlike these marketers, I'm not interested in making a quick buck so I can call it like it is:
That ship has sailed, guys. Aren't you conning the gullible now?!
Reader, what's your take?