+ Reply to Thread
Results 1 to 5 of 5

Thread: What skill sets are required to make money flipping web sites

  1. #1
    Top Contributor
    Join Date
    Jun 2011
    Location
    Florida
    Posts
    895
    Thanks
    1,988
    Thanked 1,436 Times in 692 Posts
    Rep Power
    39

    What skill sets are required to make money flipping web sites

    New business-people wanting to make money flipping websites may have an incorrect perception of the level of difficulty for the process, and the amount of knowledge needed, when entering into this business model.

    Although flipping is often seen as a single concept, flipping is not a single skill, it's an extensive series of skill sets. What skills would you suggest be included in the curriculum of a class on flipping web sites and Why are these needed?

    Also, what questions do you need answered based upon your experience?

  2. #2
    Dormant Account
    Join Date
    Oct 2010
    Location
    Cotswolds
    Posts
    786
    Thanks
    175
    Thanked 739 Times in 373 Posts
    Rep Power
    24
    Business skills - and the ability to delegate / bring in others where you have no skills...
    content / marketing / coding / design skills

    Alasdair

  3. #3
    aka "meathead1234" Thomas is a Premium Member
    Join Date
    Apr 2010
    Location
    UK
    Posts
    1,160
    Blog Entries
    8
    Thanks
    154
    Thanked 498 Times in 260 Posts
    Rep Power
    24
    Depends what sites you buy and where you want to add value.

    Personally, I have no design/technical skills so I would never look to buy a site and increase value that way.

    I tend to focus on sites where I can improve the monetization and get more out of the traffic that already exists. It's amazing how many sites are hugely under-monetized, so often it's not that hard to double revenue on an established site.

    The only pre-requisite is probably negotiation and general business skills. If you can't negotiate a good deal when buying/selling, you're not going to be profitable.

  4. #4
    Administrator Clinton is a Premium Member
    Join Date
    Jan 2010
    Location
    Essex, UK
    Posts
    7,564
    Blog Entries
    30
    Thanks
    4,192
    Thanked 2,972 Times in 1,660 Posts
    Rep Power
    107
    Skills:

    #1 Being able to sift through the mountains of junk, preferably using some automation, to find potential buys
    #2 Being a cynical, suspicious sod as you have to see through all the sellers' gloss
    #3 Having experience monetising sites in the sector / niche you're considering and in the monetising methods used by the sites you're considering
    #4 Being able to form an educated guess on the main risks faced by your prospective buys
    #5 Being able to quantify those risks and adjust for them in the price determination
    #6 Being able to do DD on traffic, on revenue, on time required to run the site, on everything
    #7 Having the ability to negotiate the deal, agree contractual terms, complete the transaction safely, transfer the site to your hosting a/c
    #8 Having the skills to add value to the site via your existing contacts, via access to content, via owning other sites in the niche etc.
    #9 Knowing where and how to list your site for sale and how to conduct a sale to get maximum price rather than simply listing on Flippa
    #10 Last but not least - having common sense and good business acumen. For example, if you put a zero value to all the time you invest yourself in the whole buying and selling process, a cost most siteflipping ebooks and courses are strangely silent on (because it would invalidate all their claims about the vast profits to be made), is dumb.
    Show your support - Like us on Facebook

  5. #5
    Trial Member
    Join Date
    Nov 2012
    Posts
    3
    Thanks
    1
    Thanked 0 Times in 0 Posts
    Rep Power
    0
    I think that having basic business common sense is a good start.

    Whenever I look at businesses to buy (whether online or offline), I normally like to see the last years worth of income (along with other information). I am always amazed to see websites that have sold for thousands of dollars that don't even have 2-3 months worth of income verification. Some don't even have 1 month worth of income proof.

+ Reply to Thread

Similar Threads

  1. How do you find web sites to purchase and improve
    By KenW3 in forum Site Flipping
    Replies: 2
    Last Post: 31 May 2012, 9:15 am
  2. Replies: 0
    Last Post: 29 September 2011, 2:40 pm
  3. FP - Making Money Flipping PLR Sites
    By Thomas in forum Site Flipping
    Replies: 32
    Last Post: 30 January 2011, 12:21 pm
  4. 600 government sites for sale. Opportunity to make money?
    By 3Six in forum Making Money Online, Monetization
    Replies: 5
    Last Post: 4 September 2010, 6:33 am

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts