Are you considering buying an established website or online business on Flippa, a website forum or through a broker? Buying a website can be a great investment or you can quickly lose your cash if you don’t know what you are doing. It should be treated seriously and the purchase should be well researched. But how do you know when you have done enough research and can go ahead and bid for a site?
How do you know that you have covered all aspects of buying a site and you haven’t forgotten a small detail that could mean the difference between a site that makes money into the future and one that collapses in a heap in a few weeks after you have bought it.
I’ve been researching and buying websites since 2008. I spent hours looking at each site and doing research. If it was a site I liked I would do more research. But I always had a fear that I had forgotten something and would lose my money. So I would do so more research and on it would go. Soon the auction would come to an end and I would either bid without feeling totally comfortable about it, or let it go because I hadn’t finished my research. I missed out on a lot of potentially great money making sites.
I soon came to the conclusion that I needed to put some structure behind the investigation. If I did not, it could go on for days. I decided I needed to work out what was important and define how I was going to record what I found and then I… Read more…