Day 6 Quick Start Guide

Day 6 Quick Start Guide to Buying and Selling Websites

Ant Quick Start Guide

Dolphin Quick Start Guide

Dragon Quick Start Guide

Day 6 – The Ant Quick Startup Guide

Step 1: Prepare to Sell the Site

Put together a website prospectus for any sites you’d like to sell.  Include in the prospectus verifiable stats for traffic and revenue, along with what you would do with the site if you were to keep it.  You’ll also want to answer the question: Why are you selling? Buyers always want to know the reason.  A very good reason is the truth.  In this case you build sites to sell.  You don’t hold sites, that’s your business model.

Look in the Tools and Resources section for a template Prospectus to use.  One question we often get at this point is “Do we really need one of these?”.  The answer is ‘No’.  However, by having a professional document you can send a potential buyer at any time without having to gather information on the spot, saves times and potentially will make a sale for you.

Video Training to Watch: Ant Formula Module 9 – Selling Sites

  • Preparing a Site to Sell
  • Determine What the Price and Terms Should Be

Step 2: Determine Where and When to Sell the Site

Knowing when to put the sites you build up for sale is a personal choice.  As buyers we don’t buy new sites.  We look for sites with a minimum of 12 months age to them and some proven method of traffic or monetization.  That being said, there are buyers for new sites.  These buyers are either first time website owners looking for a business to build online or they are savvy internet marketers who don’t want to bother with building a site.  All they want to do is market it.

So it’s you choice if you wait a few months or years or sell right away.  However, you’ll likely earn more money the longer you wait.

When it comes to ‘where’ to sell, this can be a tricky one.  Again, it depends on the quality of the site.  If you can get a website broker to take on any of your sites, you are likely to get a pretty good multiple on the revenue numbers.  Most brokers don’t look at new sites though.  So you are probably going to look to sell on sites like Flippa.com, Ebay or look for website owners in your space and send them an email to see if they’d like to buy a new site.

Video Training to Watch: Ant Formula Module 9 – Selling Sites

  • Where to Sell the Site
Video Training to Watch: Ant Formula Module 10 – Next Steps
  • Setting up an Auction
  • Communicating with Buyers

Step 3: Market the Sale of the Site

Once you have your site up for sale, market it.  Have a website for your business where you post sites for sale and link to wherever you list the site.  If you post the site on Flippa.com, create a page on your site with links to the listing.  Market the site on social media, Twitter, Facebook, Google+ or LinkedIn.

One great resource is to post the site for sale in the BASW Network forum or list the site officially with BASW buy filling out the For Sale page.

Step 4: Get it Sold and Transferred

Once you’ve come to an agreement, get a contract signed with the buyer.  You can find sample agreements in our tools and resources area.  (we are not lawyers or providing legal advice, so check the agreements out with a legal professional).  Then collect the money and transfer the domain and website.  That’s it.

Video Trainings to Watch: Ant Formula Module 10 – Next Steps

  • Payment Methods – Which are Best
  • Transferring the Files

Day 6 – The Dolphin Quick Start Guide

Step 1: Make Offers or Bids on Auctions

Now that you’ve tracked down several sites, run due diligence scoring and valuations on each, it’s time to make an offer.  There are plenty of bidding strategies and negotiating strategies out there that people teach for any kind of sales or auctions.  So use those to determine the best approach for you.

Video Trainings to Watch: Dolphin Module 3 – Negotiating

  • Negotiating the Best Deal for Dolphins
  • Payment Methods – Which are Best
  • What Comes First – Money or Site Transfer

Step 2: Negotiate the Deal

When you negotiate, we believe creating a win-win situation is best.  Don’t every try to take advantage of a seller, after all, sellers are you customers.  Think about it, if you take advantage of a seller and the later realize what a bad deal they made, they won’t likely do business with you again in the future.  Who knows, maybe they had 20 other sites they’ve built that they could have sold you and now won’t.

Once the deal is negotiated use the agreements in the tools and resources area to write up the agreement.  No matter who you are doing a deal with, always have an agreement written up.  If for nothing else, clarity is king in any transaction.

Step 3: Transfer the Site

Use the easiest method possible for transferring the domain and hosting.  Keep in mind, if you plan on selling this again relatively quickly you don’t want to do a bunch of transferring around just to save a couple bucks per month.  One easy way we’ve found is to take over the domain or hosting account of the seller.  Yes, there is an extra monthly fee to the hosting account, but again if you are selling the site quickly who cares.  It also makes it easier for the next buyer to take over the accounts as well.

Video Trainings to Watch: Dolphin Module 9 – Private Buyer

  • Transferring the Files

Step 4: Choose Where and When to Sell

How long do you wait before selling?  It can be as quick as a few hours or as much as a couple of years.  It really depends on your goals and how prepared you were going in.  If you already had a buyer in place you could sell the site in just hours, but if you find a site that needs a lot of work to market or monetize it before selling, then you’re looking at a few months or even years.

We would recommend against selling the site in the same place you bought it.  Flippa has a tracking system and sets a warning button next to any auction showing the previous auctions of the site that were on Flippa. So if someone bought the site six months ago for $25,000 and they are trying to now sell it for $250,000 you will see it.

Video Trainings to Watch: Dolphin Module 10- Selling to the Public

  • Setting Up an Auction
  • How Long to Wait Before Selling

 

Day 6 – The Dragon Quick Start Guide

Step 1: Make Offers or Bids on Auctions

Now that you’ve tracked down several sites, run due diligence scoring and valuations on each, it’s time to make an offer.  There are plenty of bidding strategies and negotiating strategies out there that people teach for any kind of sales or auctions.  So use those to determine the best approach for you.

Video Trainings to Watch: Dragon Module 4 – Doing the Deal

  • Bidding and Offer Techniques
  • Negotiating the Best Deal for Dragons
  • What Comes First – Money or Site Transfer

Step 2: Negotiate the Deal

When you negotiate, we believe creating a win-win situation is best.  Don’t every try to take advantage of a seller, after all, sellers are you customers.  Think about it, if you take advantage of a seller and the later realize what a bad deal they made, they won’t likely do business with you again in the future.  Who knows, maybe they had 20 other sites they’ve built that they could have sold you and now won’t.

Once the deal is negotiated use the agreements in the tools and resources area to write up the agreement.  No matter who you are doing a deal with, always have an agreement written up.  If for nothing else, clarity is king in any transaction.

Step 3: Transfer the Site

Use the easiest method possible for transferring the domain and hosting.  Keep in mind, if you plan on selling this again relatively quickly you don’t want to do a bunch of transferring around just to save a couple bucks per month.  One easy way we’ve found is to take over the domain or hosting account of the seller.  Yes, there is an extra monthly fee to the hosting account, but again if you are selling the site quickly who cares.  It also makes it easier for the next buyer to take over the accounts as well.

Video Trainings to Watch: Dragon Module 5 – Transferring and Cleaning up the Site

  • Transferring the Files

Step 4: Layout Future Growth Strategy

Some sites you buy can be low maintenance, while others require daily work.  Either way, don’t ignore the asset you just purchased.  Even with sites that require little maintenance, it’s important to keep them up to date.  Developing a growth strategy for the site will include: How to increase traffic, how to increase conversions and how to increase revenue.

It’s time to map out the strategy of building the site even bigger now.

Video Trainings to Watch: Dragon Module 7 – Growth Strategy

  • How to Add Value & Revenue to a Site