in the business of web properties your WHY ? contains the key elements of selling time of your business, buying the business and the budget .We are clear about min of 6 months to 12 months concept. e.g i decide that i will sell my blogging business if i start earning $200 per month for 12 months for $5000.In selling you need to know which business you are going to sell. If you define it in advance you can work more effectively on it.We have covered the following business with reference to web-properties.
- domain business
- website sales purchase business
- themes and plugins
- software business
We have discussed it with reference to Licencing in the last webinars. For those who are new in online business the best option is buying the business if you have business resources available. We can think about the scenario in which we have $500 and we are to select in which business we want to invest out of the following: Domain sales, themes and plugin ,GPL,blogging and licensing. can you decide In which business you can enter as a buyer and why. you need to workout this.
The better option and affordable and cheap one is to start from licensing information product . If you go in with the White Label Rights with a bit of investment then you can earn even better. the software business is good and client pay good price for it if the product has value and you are able to demonstrate it to them and they understand it.
In case of plugins and themes business there is lot of competition in the market .you need to modify GPL according to the market needs that needs lot of investment and good know how about it. In case of themes you need services of professional designer.
website business requires lot of time to be successful. in case of licensing business you buy the product, bring traffic for it and make sales .
Then you need to build trust in your brand and have good relationship and effective marketing to make it success story.
Depending on your budget ( key element ) you need to know where it is suitable for you to invest.
you must always think to what level you can take your potential business and earn good revenue.
one can find the blogs that are earning $100 to $150 per month after a lot of search and competition if you have $500 investment in your mind.very difficult to find the blog with ever green niche in $500.
the question arises where can my $500 investment will be effective. you can buy tools for $300 and spend $200 on traffic an build your buyer list.
you can use agency licenses , developer licenses to sell additional service to your freelancing clients. the best way to find about different services is to search in the platform like fiverr. The best example is the PRBUZZ service used to submit the press releases , a very good candidate for starting your own business and invest your $500 in it.
Always keep one thing clear in mind that if your product has value, it solves the problem of the client and you are to demonstrate it and client is convinced you product will have sales. the product must relate to your audience having trust relation with you and they have the capacity to buy your products.
you can buy tools to benefit your business that align with your business road map. most of the time people buy website business but do not have a plan or road map that how they are going to run the business in future. As a result the business goes down. when you try to buy a business , create a proper plan , how you are going to get benefits from it. Do think about the future and how fast you will recover your investment,and how much other investment required to run and grow the business. We as buyer miss the running cost angle. buying business is one thing but the actual thing is ability to run and grow the business. You need to understand the ins and outs of the business else you will have to face scam.
your road map will be effective when you know different stuff that is related to your road map. it will add strength to your business road map.you need to do research if you want to grow .
The domain sales and purchase business is not reliable since one cannot do anything about it. We have to wait and see what happens. It all depends on chance. and luck However there are people out there who are earning lot of money from this business but it requires time research and analysis and investment. . you can see the platforms like sedo and godaddyauction for the domain sales and purchase. Sane people start buying domain names for newly created business , societies and keep analyzing the market and thus get results. if you want to earn from domain business you will have to invest time and work hard for it , no magic wand.
We must take calculated risk related to our existing business and have new learning experience and don't be afraid of it. do not take foolish risk on big level and face failure without having road map well tested and worked out based on analyses and stats. our road map is growing strong it has sale element and time element. If you understand you business , see potential in it, it is clear to you and road map go and take calculated risk