In anything we do, sometimes we have to learn a lesson the hard way. But it isn’t something that should discourage you. As a matter of fact, as you may know from your past business experiences, adversity even helps you be stronger. Here is an experience of a website flipper who undersold her website — in effect, a $14k-mistake!
To make a long story short, she let go of a site for a measly $1,850 to a website flipper, who in turn, made an enormous profit by selling it for $16,000 just four months after. Painful, I know, but a lesson just the same.
You may be thinking that the site completely improved in such a short period of time, but not really. The error was made when the original seller didn’t track the revenue of the site prior to selling it. On the Flippa auction, she indicated that the site profited $200 within the last couple of months. When the site sold however, it was closer to earning $1,000 monthly. That was definitely a major bargain for the buyer.
But rather than dwelling on her bad business move, she moved forward learning from this mistake and looked for more profitable opportunities.
Other than flipping websites, she enjoys income from affiliate marketing. In her years of being in internet marketing, she was able to develop a formula to which she attributes her success. Her formula is: research for a frequently searched keyword, know and investigate the competition, consider the profitability for the niche, and find a product within the niche that consumers will wish to buy.
Also, for her core strategy, she uses generating organic search traffic. She seeks out consumer-oriented items that are a bit on the pricey side to get the higher affiliate commissions. Moreover, she opts for niches that she is interested in she gets to enjoy the work while making a living.
Finally, this experienced website flipper has some smart advice for buyers. She suggests that you learn all you can about the niche before buying. If you can identify what you want from the beginning, you’ll be able to use the most suitable methods to fix up and promote the site. And never forget to “enjoy the ride!” while you are knowing your way around the website flipping biz.
