ASK some of Australia’s best-known entrepreneurs for recommendations on earning extra revenue and they are generally more likely to explain to you to have flipped.
Don’t be offended. It can be sound advice because ”flipping” – buying rundown websites, sprucing them up then selling with a profit – is, apparently, where it’s at.
It is the digital same as renovating a house before putting it back in the marketplace in a higher price, only without having the back-breaking labour, dust mite-infested carpets and massive cash outlays.
”Unlike flipping real estate, it’s an easy task to add value to websites,” Melbourne flipper David Jenyns says. ”To add value to real estate, you must do something significant, labour-intensive and, usually, expensive, like developing a new bathroom.
”But with websites, you can make small changes for example building links from other sites or enhancing the overall appearance for little cost.
”That result can be quite a significant increase in value.”
Jenyns, the homeowner of MelbourneSEOservices.com, has created hundreds of thousands of dollars online through make money flipping website and ”domaining”, buying keyword-rich domains, stuffing them with content suited to search engine optimisation (SEO) and selling at a profit.
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Among his testimonials is forextradingstrategies, that he bought for $10 and sold for $ten thousand after spending $100 to possess SEO-friendly articles written to the site.
The Jenyns domaining repertoire includes wrestlingmoves, which was sold for $2000; WoodWorkingProjects.org ($1495) and fireplace-design.org ($997). He paid $10 for each domain contributing to $150 to set up the accompanying websites.
”Flipping gives the lowest barrier to entry compared with virtually any other business around,” says Jenyns, who in 2001, aged 19, produced a term for himself – and $70,000 – selling components of that old Ponsford stand through the MCG as memorabilia.
”You only need to be able to begin to see the diamond from the rough and also have a plan of methods to unveil it,” he says.
”Even when you haven’t got the technical know-how, it is possible to employ a freelancer through the freelancing site, who makes it happen.”
Award-winning Australian entrepreneur Matt Barrie, among Australia’s brightest digital stars, runs this type of site, freelancer, a source of freelancers to the digital projects required by flippers, for example logo design, website programming and Facebook app development.
Freelancer.com is probably the biggest flips of all time. When Barrie bought the internet site during 2009, at the time called getafreelancer, it looked, in his words, ”grey, utilitarian and horrible, just like a high-tech Ukrainian prison”.
Nearly three years later, sporting a revamped interface and new name, it has registered greater 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, a week ago, a scientist in the jungles of Africa needing a poster made to extol the virtues of saving a rare type of hippopotamus.
The truth is, several of Barrie’s freelancer.com staff in excess of 100 range from site, a scenario he says represents a ”seismic change in the world’s labour markets”.
”It’s never been simpler to get started on a company and it’s never been more cost-effective,” says Barrie, whose own flip turned over over $US40 million ($38.6 million) this year and contains dispensed about $100 million considering that the original site opened in 2004.
Barrie came upon the getafreelancer.com site while constructing a shop site.
Needing 1000 components of data applied for a spreadsheet, he was unable to find anyone to do it and reluctantly placed the work on getafreelancer.
Within three hours, he had 74 tenders starting from $2000 to $100 from the team in Vietnam.
He picked the Vietnamese team along with the spreadsheet was returned 72 hours later.
”It was perfect,” says Barrie, who realised the world’s labour-market model was potentially near dramatic change and immediately set about creating a similar site before discovering getafreelancer was for sale.
He sought funding, bought the website, tweaked it and caused it to be more friendly to Western users. ”The site’s revenue doubled in round the clock once we changed the graphics and, with time, we’ve incorporated other changes, including rebranding and renaming the existing site,” he says.
And what of arguments regarding the West exploiting Third World labour, albeit digitally?
”A very large area of the world’s population survive $10 every day or less now they may jump online and earn in a single day anything they would earn within a month and why shouldn’t they?” Barrie says.
”They are just as smart as us, just like motivated and desire a task as much as perform.”
Barrie cites the demonstration of a young woman within the Philippines who now makes $400,000 each year turning out logos for businesses and websites all over the world.
Freelancer.com’s top freelancer earns a whopping $1 million a year creating small $65-$100 websites and selling these people to firms that want quick and affordable web presences.
Another spectacularly successful flip is purchasing expired domain names, the king of the internet’s domain-flipping destinations.
The 2-year-old Melbourne-based digital marketplace will this month clock up over $60 million in website sales and hosts a lot more than 1000 potential sellers and buyers of domains and websites every minute.
Although the digital offerings on Flippa range from $1 domains to 6-figure websites, most of them are flipped websites that sell cheaper than $ten thousand, normally 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, as well as Retweet.com, which had been sold for $250,000, and BlogTopSites, which went for $117,000 in April this past year.
Flippa may now be the world’s biggest website marketplace but it, too, started like a flip.
”I’d found this little site, called webmaster-resources.com, run by a guy named Matt Mickiewicz out from Canada,” says co-founder and former Sausage Software programmer Mark Harbottle, who this coming year made his debut in the BRW Young Rich List with an estimated great deal of $40 million.
”I was buying advertising space on his website for some software I had been selling and, eventually, he asked generally if i might help him with all 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, decided to partner Harbottle along with the duo spent the subsequent year rebuilding and rebranding as sitepoint.com, which quickly became a popular location to sell websites, particularly flipped ones.
After achieving a few years of 150 % growth, the pair, still living in different hemispheres, made a decision to spin the 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 this past year.
”I had no idea when it would be three months or three years after i started but today I have to accomplish what I love and also this whole experience has allowed me to accomplish plenty of cool stuff, especially helping others with great ideas,” Harbottle says.
”And it all started with a $400 investment in a little Canadian website.”
1 If you do not simply want quite a site or perhaps to bulk up your digital portfolio, don’t just get a site simply because you want it. Make sure to use the trouble to complete your homework before handing over any cash and discover should it be capable of turning a return. Check the site’s Alexa ranking, check out the revenue and potential revenue, along with what technology your website is constructed from. If it’s inside an obscure language and you also won’t locate customers to code it, there’s little point.
2 Select premium domains. You can always fix the information but if the domain is worthless or irrelevant, you’ll need to work doubly hard. Domains which contain natural keywords work best.
3 Investigate the quality of the user base, just how many users (and what number of options are active), where they’re from and exactly how they are being acquired.
4 Pay money for quality content to get written for your personal site (if you can’t do-it-yourself). You can then utilize these articles to publish for some other sites in exchange for links to your site. This can markedly improve the SEO on your own new site.
5 Make sure to ask the owner all of your questions before sending the amount of money: what is included (all of the code, original, editable graphics) and exactly what is not included (installation, changes); are you gonna be selling this website or possibly a site as if it again; why are you selling; may be the content unique towards the site or created specifically for dexopky60 site?; exactly how much ongoing support will the vendor supply?
6 Begin small. There’s a lot to learn and you also won’t be capable of learn it through just reading regarding it. Purchase a small website with the maximum amount of money as possible afford to lose where you can play. Consider using a $50-$100 site and understand the things that work and what doesn’t. Go through the selling and buying of tips to become an adventurer, what exactly is involved, the things you get and everything you didn’t.
THE world’s No.1 marketplace for digital goods is crammed using more than 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. Take a look at Google’s Webmaster Channel in particular for google search optimisation basics (and a few advanced tips, too).
SPEND the time to perfect Google Analytics (or any alternative analytics you might want to use). Initially it may be like gobbledygook but once you understand what each of the numbers and squiggles mean, you’ll start to see with the haze and learn what individuals truly want in your sites.
An Incredible resource for anything concerning the net and websites and also marketing. One of the 15,565,000-plus posts, solutions to just about anything you could ask are actually there – and when they’re not, just ask certainly one of their 492,000-plus members. See forums.digitalpoint.com.