ASK a number of Australia’s best-known entrepreneurs for tips about earning extra money and they are generally likely to tell you to have flipped.
Don’t be offended. It is 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 home before putting it back on the market with a higher price, only with no back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping real-estate, it’s very easy to add value to websites,” Melbourne flipper David Jenyns says. ”To add value to property, you should do something significant, labour-intensive and, usually, expensive, like constructing a new bathroom.
”But with websites, you may make small changes like link building using their company sites or enhancing the overall appearance for little cost.
”That result can be quite a significant increase in value.”
Jenyns, the owner of MelbourneSEOservices.com, makes thousands and thousands of dollars online through make money flipping website and ”domaining”, buying keyword-rich domains, stuffing these with content designed for internet search engine optimisation (SEO) and selling at the profit.
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Among his success stories is forextradingstrategies, that he bought for $10 and sold for $10,000 after spending $100 to obtain SEO-friendly articles written for that 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 offers the lowest barrier to entry in comparison with practically any other business on the market,” says Jenyns, who in 2001, aged 19, crafted a name for himself – and $70,000 – selling bits of the previous Ponsford stand from your MCG as memorabilia.
”You only need in order to see 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 may work with a freelancer from your freelancing site, who makes it happen.”
Award-winning Australian entrepreneur Matt Barrie, certainly one of Australia’s brightest digital stars, runs this sort of site, freelancer, a supply of freelancers to the digital projects essental to flippers, including logo design, website programming and Facebook app development.
Freelancer.com is amongst the biggest flips ever. When Barrie bought the website in 2009, during the time called getafreelancer, it looked, in the words, ”grey, utilitarian and horrible, like a high-tech Ukrainian prison”.
Nearly 3 years later, sporting a revamped interface and new name, it offers joined a lot more than 2.8 million employers and freelancers and the plethora of people making money, either by selling their services or hiring them, is diverse, from programmers and graphic designers to, last week, a scientist from the jungles of Africa needing a poster created to extol the virtues of saving a rare breed of hippopotamus.
In reality, several of Barrie’s freelancer.com staff of more than 100 range from site, an issue he says represents a ”seismic change in the world’s labour markets”.
”It’s never been easier to start an organization and it’s never been more cost-effective,” says Barrie, whose own flip turned over a lot more than $US40 million ($38.6 million) this coming year and has dispensed about $100 million since the original site opened in 2004.
Barrie came upon the getafreelancer.com site while creating a shop site.
Needing 1000 items of data applied for a spreadsheet, he was struggling to find anyone to make it happen and reluctantly placed the job on getafreelancer.
Within three hours, he had 74 tenders including $2000 to $100 coming from a team in Vietnam.
He picked the Vietnamese team and also the spreadsheet was returned 3 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 building a similar site before discovering getafreelancer was on the market.
He sought funding, bought the site, tweaked it and made it more friendly to Western users. ”The site’s revenue doubled in twenty four hours after we changed the graphics and, as time passes, we’ve incorporated other changes, including rebranding and renaming the old site,” he says.
And what of arguments concerning the West exploiting Third World labour, albeit digitally?
”A large area of the world’s population live on $10 per day or less and from now on they can jump on the web and earn in one day whatever they would earn within a month and why shouldn’t they?” Barrie says.
”They are simply as smart as us, in the same way motivated and want a task nearly as much as perform.”
Barrie cites the example of a young woman in the Philippines who now makes $400,000 annually turning out logos for businesses and websites around the globe.
Freelancer.com’s top freelancer earns a whopping $1 million per year creating small $65-$100 websites and selling these to firms that want quick and affordable web presences.
Another spectacularly successful flip is domain name flipping tips, the king in the internet’s domain-flipping destinations.
Both the-year-old Melbourne-based digital marketplace will this month clock up greater than $60 million in website sales and hosts over 1000 potential sellers and buyers of domains and websites every minute.
Even though digital offerings on Flippa vary from $1 domains to 6-figure websites, the majority of them are flipped websites that sell cheaper than $10,000, typically about $2000 a pop.
Flippa a year ago hosted the sale of FaceMash.com ($30,000), Mark Zuckerberg’s Facebook predecessor, famously created throughout his time at Harvard University, in addition to Retweet.com, which was sold for $250,000, and BlogTopSites, which went for $117,000 in April this past year.
Flippa may certainly be the world’s biggest website marketplace but it, too, started being a flip.
”I’d found this little site, called webmaster-resources.com, run by way of a guy named Matt Mickiewicz away from Canada,” says co-founder and former Sausage Software programmer Mark Harbottle, who this season made his debut in the BRW Young Rich List by having an estimated lot of $40 million.
”I was buying advertising space on his website for a few software I used to be selling and, eventually, he asked me if I could help him together with the site’s promotion and marketing.
Despite a $500,000 offer of sale from a third party, Mickiewicz, then this 16-year-old working from his bedroom, chosen to partner Harbottle and also the duo spent another year rebuilding and rebranding as sitepoint.com, which quickly became a popular location to sell websites, particularly flipped ones.
After achieving several years of 150 % growth, the pair, still surviving in different hemispheres, made a decision to spin out your website sales arm into Flippa.
Today, Flippa and its particular 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 little idea if it would be three months or 36 months once i started these days I get to do the things i love and this whole experience has allowed me to perform lots of cool stuff, especially helping others with great ideas,” Harbottle says.
”And all of it started by using a $400 investment in a little Canadian website.”
1 Except if you simply wish quite a site or even to get buff your digital portfolio, don’t just purchase a site for the reason that you prefer it. Make sure you consider the trouble to do your homework before handing over any cash and find out if it is effective at turning a profit. Look into the site’s Alexa ranking, glance at the revenue and potential revenue, as well as what technology your internet site is produced from. If it’s in a obscure language and you won’t be able to find individuals to code it, there’s little point.
2 Choose premium domains. You can fix the information however if the domain is worthless or irrelevant, you’ll need to work doubly hard. Domains which contain natural keywords would be best.
3 Check out the quality of the user base, the amount of users (and what number of these are active), where they’re originating from and how they are being acquired.
4 Pay money for quality content to become written for your site (when you can’t do-it-yourself). Then you can begin using these articles to publish with other sites in exchange for links in your site. This can markedly improve the SEO on the new site.
5 Make sure to ask the seller your entire questions before sending the money: what exactly is included (every one of the code, original, editable graphics) and what exactly is not included (installation, changes); are you selling this site or even a site like it again; precisely why are you selling; will be the content unique on the site or created specifically for dexopky60 site?; exactly how much ongoing support will the owner supply?
6 Begin small. There’s much to learn and you won’t be capable of learn it through just reading about this. Invest in a small website with all the money since you can afford to lose where you can play. Use a $50-$100 site and understand the things that work and what doesn’t. Feel the buying and selling of professional adventurer, exactly what is involved, everything you get and what you didn’t.
THE world’s No.1 marketplace for digital goods is crammed with over 100,000 potential sellers of flappable sites and buyers of flipped sites.
IF THERE’S anything you want to find out about flipping, YouTube is an invaluable teaching tool. Check out Google’s Webmaster Channel in particular for internet search engine optimisation basics (and some advanced tips, too).
Take the time to master Google Analytics (or any alternative analytics you may choose to use). At first it will look like gobbledygook but once you discover what all the numbers and squiggles mean, you’ll begin to see throughout the haze and learn what individuals really want on the sites.
An Incredible resource for anything concerning the web and websites as well as marketing. One of the 15,565,000-plus posts, answers to just about anything you can ask are already there – of course, if they’re not, just ask certainly one of their 492,000-plus members. See forums.digitalpoint.com.