The Lazy Way to Build a Profitable Portfolio
  • Hey guys,

    For those of you who are happy buying sites and holding on to them for a while, it can get quite daunting managing 100s of sites on your own - even outsourcing can be risky unless you know what you're doing.

    If you're in it for the longer term - it can be better to have a nice portfolio that you can flip when you need to.

    Here's a really simple way to do it if you are short of time/lazy :)

    Pick ONE platform of site. Blogs, forums, ebook sites, micro-niche sites or whatever.

    I personally like forums. Once started, they build themselves exponentially with a decent member base. They also sell for some really nice premiums on Flippa.

    You want to look to buy forums that are quite active, with a number of posts and "real" members. Your job will be a lot easier if the forum is already seeded and it has some members. You can pick some BARGAINS up on DP with forgotten forums.

    Once you buy it - spend some time monetizing it. Redesign if necessary. Now it's time to email all the members. Introduce yourself as the new owner and say you are looking for a paid moderator to run the site. Often, you'll get a ton of replies from interested people. At this stage I'll offer them a profit share (it's important NOT to offer them OWNERSHIP, just PROFIT share from the operations) to run and promote the site. Have one mod you choose and then let him/her select other mods. Now I basically leave them to it. Give them some tips if they are inexperienced. Some people spend their life on forums - use these to your advantage. They can grow your business for you full time and all you'll need to do is split the profits.

    You can very quickly scale up a portfolio in a few months. I could EASILY go onto DP right now and buy 5 suitable forums for under $2k. Get them running with people on profit share, and you're laughing. You'd be surprised how easy it is to sell a forum for $2-10k on Flippa.

    I prefer offering people commission over paying them a set amount. You're far more likely to get better performances if they get a cut.

    Obviously you make less money splitting profits, but I'd rather have a 50% cut from 10 sites than a 100% cut from 2 sites :)
    Post edited by Unknown User at 2011-11-13 12:15:56
  • I seem to have developed a habit of hitting thanks to your posts again and again but can't help it :D
    Another great post meathead ;) I just love the info you give.
  • nice ideas, i wonder how many ppl work for your's forum in the past, lol
  • Just a quick question if we say I choose something different than a forum. How would I go about putting it on autopilot?

    I guess I can outsource content creation and promotion or get somebody to be a regular guest blogger or something like that.

    Btw. When I buy a forum if the Vbulletin license isn't included how will I go about running it?

    I mean a Vbulletin license doesn't come cheap. And also which free forum platforms do you like?
  • [quote="chockfactor"]
    Just a quick question...
    When I buy a forum if the Vbulletin license isn't included how will I go about running it?

    I mean a Vbulletin license doesn't come cheap. And also which free forum platforms do you like?


    You might want to look at MyBB. I ran across it doing research relating to the website giveaway. It's open source / free and it apparently handles conversions from the major forum applications like Vbulletin. Some good reviews for it show up on the search engines.
    Ron
  • [quote="ramurphy"]
    You might want to look at MyBB. I ran across it doing research relating to the website giveaway. It's open source / free and it apparently handles conversions from the major forum applications like Vbulletin. Some good reviews for it show up on the search engines.
    Ron


    Yes. I love myBB (FlippingNetwork runs on it). I persuaded Bryan to use it as I've owned a number of forums running it and I think it looks awesome.

    IMO Vbulletin is too expensive unless you're playing with sites $2k and up.
  • [quote="Thomas"]
    [quote="ramurphy"]
    You might want to look at MyBB. I ran across it doing research relating to the website giveaway. It's open source / free and it apparently handles conversions from the major forum applications like Vbulletin. Some good reviews for it show up on the search engines.
    Ron


    Yes. I love myBB (FlippingNetwork runs on it). I persuaded Bryan to use it as I've owned a number of forums running it and I think it looks awesome.

    IMO Vbulletin is too expensive unless you're playing with sites $2k and up.


    Arh nice then I will use that and also it sounds extremely good it can be used if I buy a forum built on Vbulletin, but the license doesn't come with it.
  • Great idea Thomas, although I'm new to the game it seems pretty clear that its quite important to define your strategy and stick with it until you start to see results.