Why You Should Consider Selling Your Website Now
Have you ever wondered what you would do if you wanted to sell your online business, or where to begin if you’ve already given it some thought? In this week’s podcast, guest Colin Ma shares the steps he follows on how to sell a website as well as some additional, helpful tips to get you started.
Picture this: you’ve established a well-run, profitable online business which resulted from your hard work, dedication, and creativity. While you’re proud of all that you’ve accomplished, you feel like its time to move onto bigger and more exciting projects. So, you decide to sell your website, only, you’re not too sure of how to navigate the complexities of doing so.
Luckily, Colin Ma has all the tips and tricks on how to sell a website. By making sure your website is in prime shape for sale as well as making sure there’s some profit for you to obtain, selling your website can be a smooth-sailing experience.
EPISODE 028: WHY YOU SHOULD CONSIDER SELLING YOUR WEBSITE NOW
About Colin Ma
Colin is a problem-solver who loves developing creative solutions rooted at the intersection of technology, marketing, and strategy. He first started his career as a Technical Consultant where he developed his Software Engineering and Client Management skills, and has built web and mobile applications for Fortune 500 companies.
He has bought, managed and sold multiple digital businesses across various sizes, including high 5 and 6 figure deals, even prior to joining Domain Magnate. He founded Makujin Media, a digital marketing and asset holding company that provides SEO, Social Media and Sales strategy consulting services helping its eCommerce business clients convert more leads to customers.
In his spare time, Colin can be found dancing around Southern California or cooking up a storm in the kitchen.
Beginning Steps On How To Sell A Website
Colin Ma has been an SEO and content creator for various websites for the past six years. He finds the time to work with clients and analyze websites for sale by finding a balance between his personal and work life. Also, he thoroughly enjoys what he does, so to him, its not really work.
According to Colin, the idea of “how to sell a website” starts with a blogger running their website like a portfolio and outsourcing content creation. Doing this frees up more of your time so that you can focus on the more important aspects of your blog, such as SEO.
To hire others to begin outsourcing your content, you should create processes/procedures for them to follow when working with your website. This helps to highlight what you expect from your employees as well as helps you determine where an an employee can best help in the development of your website. Its really important for small businesses to be involved in the hiring process to ensure you’re building a good team culture as well as picking the people best suited to help your website grow. Outsourcing itself should be done as soon as possible in order to guarantee website growth. Doing it early also provides you with a projection of your ROI.
In addition to outsourcing, there are a few tasks you should do while managing your website. The first is creating a list of additional tasks you perform and how long it takes you to accomplish them. This is important in determining how much help you need to further develop your blog and how long a specific task might take for an employee to accomplish. Also, it lets you know how much you need to pay them for their time. SOPs (Standard Operating Procedures) are also great to have and use. They act as a guideline for employees to follow by when working on your website.
“Start building “know, like, and trust” with your community.”
Determining Website Value
Determining website value begins with developing your brand and reputation amongst your audience. Bloggers should really focus on creating valuable content for their audience including answering any questions that they may have. This helps to develop a sense of trust between you and your audience.
SOPs can increase your websites overall value. If your website has these, it makes it that much more attractive to potential buyers. New owners can better understand how to run your website with the help of your SOPs. Keeping a monthly PNO also helps because it demonstrates a wide documentation of your whole site. It also shows where and on what a buyers time needs to be spent on running your website. Lastly, document all of your decisions, even when you switch up your website’s theme, host, etc., This is important just in case your website experiences an error- you can show a potential buyer where it came from and how to fix it!
Determining when to sell your website involves making sure you are able to obtain a profit for your site. You can use said profit to fund future projects or ideas. Buyers look to see what the page view count of your website is. If all views only go to one page, they most likely won’t buy it. Keep an eye on this to make sure page views are evenly distributed. Make sure you don’t overprice your website. Yes, you put so much valuable time and energy into your page but, unfortunately, buyers don’t take that into consideration- they just want a fair deal.
Also, talk to a broker before selling your website! They can help guide you through the process and offer you advice on how to fix up your website for sale. Lastly, don’t wait too late to sell your site! If its not doing too well, its not a great idea to try to sell it. Instead, wait for your website to be doing well before you entertain buyers.
How To Increase Website Worth
Knowing how to increase website worth before the point of sale begins with a matter of priorities. Fixing a website, if it isn’t doing too well, takes a lot of time. Make sure you are actually able to set aside this time if you’re promising buyers that you will fix it. Potential buyers look at your website’s profit numbers and trends while making the decision to buy it. Even if your website has potential, making sure these are in order is a good idea to increase its worth.
Make sure most of your traffic stems from Google. While traffic from other sources, such as Pinterest is great, most buyers turn to Google to run websites because its more manageable. Social media profiles and email lists are also a way to attract buyers and increase a brand’s value. They provide extra sources of traffic and networking.
To make sure your website has potential worth, from the very beginning make sure you outsource your content. It really helps your blog to take off in a positive direction. You also get a better ROI which can be flashed in from of potential buyers to make them want your website.
“Whether you’re selling or not, [entertaining the idea] is not time wasted.”
You can connect with Colin Ma at [email protected]
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