Being Safe When Receiving Payment When Selling a Website

Now that you have learned a little bit more about selling your website, hopefully you will eventually find a buyer for your website (at a price that you are happy with). Once you find a buyer, one big thing to think about is the actual payment.

Yes, it seems easy enough – you sell your website and then you get paid. However, there are many things to think about when actually receiving this payment.

How will you actually exchange money for the website? The buyer can pay via cashier’s check or a money order as one option. I do not recommend a personal check from the buyer unless you have dealt with them before and you know that they are trustworthy.

Being Safe When Receiving Payment When Selling a Website

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Handling Online Payments

Of course, in the world of buying and selling websites, most people get paid and pay for online activities online, and not through the mail. Many people use PayPal when buying and selling websites, however there are many things to think about if you accept PayPal for payment as a seller.

One problem that some online freelancers have experienced is that a buyer will send payment for the website through PayPal, take the transfer of the website, and then file a dispute of the transaction through PayPal. This was most likely their plan from the very beginning, to take the website and get it for free. PayPal then refunds them for their purchase, and you in the end have nothing to show for the sale of the website.

However, PayPal is not always bad. If you trust the person who is buying your website, then this is an easy to receive payment for your website. If you are dealing with an unknown person or a high amount of money is at stake, I would consider other means to receive your payment.

You can also use an online escrow service. They will hold the buyer’s money until the buyer receives the website, and then you can get your payment for the sale. Using an escrow service can be a way to keep you safe.

 

Related posts: 

How to Price Your Website

Negotiating When Flipping a Website

Finding Private Health Insurance When You’re Self-Employed

Freelancing Options

 

Whichever way you decide to receive your deserved payment, there are some other things that you can do to make the sale more secure. Some will ship the site on DVDs so that you can trace the package according to PayPal. You can also ask for half of the payment upfront to protect yourself even more.

Have you ever sold a website? Have you ever encountered a problem with receiving the actual payment?

 

Pricing a Website to Sell Part 2

Selling your website can be difficult, especially if you have never done it before. Websites and blogs haven’t been around for very long, so there are not many experts in the industry of buying and selling websites and how to exactly price them. Many people who try to sell their websites have varying ideas of how they should be priced.

Just take a look at sites such as Flippa, where you can buy and sell websites. You will quickly see the vast differences in pricing, which can be very confusing. When pricing a website, you should not just place a random number on it and hope that it sells. There should be some logic behind it, and the thought process should be laid out because the buyer will most likely want to know how you reached your number.

Pricing a Website to Sell

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If you are similar to most website/blog sellers, then you have might have put a good amount of time into building your website. You might put only 5 hours a week into it, or you might be working 40 hours a week on it and treating it like a full-time job of yours. This is where pricing a website can be more difficult, because you have put so much time into it that you may feel that a higher price is deserved. You might also be very emotionally connected to it, which makes you think that selling it for a high price is justified. Don’t worry, sometimes your thinking is correct, but there are also many other factors to think about when pricing your website as well.

So, how does a person determine what to sell their website for? What are buyers looking for?

The answer? Think about supply and demand. What a buyer is willing to pay is all about their demand for it.

 

Don’t forget to read Part 1 of How to Price Your Website.

 

Related posts: 

Negotiating When Flipping a Website

Finding Private Health Insurance When You’re Self-Employed

Freelancing Options

Advantages of Becoming a Virtual Assistant

 

Your Operating Costs

Usually websites are very cheap to maintain and run, however it is something to think about.
The lower your site’s maintenance costs, in either time or fees, the more attractive it will be, and the more you will be able to earn from the sale.

The Quality of the Website

There are many websites out there for sale that are not of good quality. Low quality websites obviously do not sell for as much as high quality websites. Be honest with where your website stands, as you can sell your website much more quickly if you price your website correctly.

The Domain of the Website

Some domains are the sole reason for why a person may buy a website. Do you have a fantastic and catchy domain name that many people are looking for?

The Niche of the Website

What niche is the website that you are trying to sell in? Is it a website about blogging, personal finance, traveling, lifestyle, parenting, or something else? Different website niches are priced differently and this needs to be thought about as well. You can compare the pricing for similar websites in the same niche as you in order to get a good idea for what websites in your niche go for.

Have you ever tried to sell a website? What factors above matter the most to you?

 

Pricing a Website to Sell Part 1

Selling a website can be difficult. Websites and blogs haven’t been around for ages, so there are not many experts in the industry of buying and selling websites. Many people who try to sell their websites have varying ideas of how they should be priced. Just take a look at sites such as Flippa, where you can buy and sell websites. You will quickly see the vast differences in pricing, which can be very confusing.

If you are like most website owners, then you have probably put a great deal of time into building your website. You might put part-time hours into it, or you might be working 40 hours a week on it and treating it like a full-time job.

This is where pricing a website can be tricky, since you have put so much time into it. You might be very emotionally connected to it, which makes you think that selling it for a high price is justified. Don’t worry, sometimes your thinking is correct, but there are also many other factors to think about when pricing your website as well.

So, how does a person determine what to sell their website for? What are buyers looking for?

The answer? Think about supply and demand. What a buyer is willing to pay is all about their demand for it.

 

Related posts: 

Negotiating When Flipping a Website

Finding Private Health Insurance When You’re Self-Employed

Freelancing Options

Advantages of Becoming a Virtual Assistant

 

Your Site Statistics

Your site’s statistics are important to think about. Many website buyers will look into this, as they want to know what kind of website they are buying, and what type of readership engagement there is.  Site statistics such as Page Rank, Moz, Domain Authority, Page Authority and so on are also good for website buyers to know about because these numbers may interest potential advertisers as well.

  • Page views – How many page views do you tend to receive each day? How about each month? How many have you received in the past year?
  • Unique visitors – Page views are important, but how many unique visitors do you receive as well?
  • Number and quality of backlinks – A high number of backlinks may sound great, but are these of good quality?
  • Visitor demographics – Who visits/reads your blog? Women, men, young adults?
  • Page rank – There hasn’t been a Page Rank update since February of 2013, but this is still important.
  • Organic and direct traffic – Show numbers and percentages for these.

 

Your Annual Revenue

How much does your website already make? You should list out the different ways your website makes money, and how much comes from each area. Sometimes buyers buy websites between one to three times of their websites’ annual revenue. However, many people do not count direct advertising as a part of this since it is not sustainable, so you need to think about that as well.

Have you ever tried to sell a website? What factors above matter the most to you?

 

Negotiating When Flipping a Website

Flipping a website can be a new way for you to make money. However, there are not a lot of rules when it comes to flipping a website, so there are some things that you should know.

Are you beginning to negotiate with a serious buyer for your website? Below are a few things that you should try to remember.

 

Related posts: 

Building your Reputation as a Freelancer

Finding Private Health Insurance When You’re Self-Employed

Freelancing Options

Advantages of Becoming a Virtual Assistant

 

Valuing a Website.

Valuing a website can be difficult, since the item is not tangible and websites haven’t been selling for that long. However, there are other websites that have sold that you can compare yourself to. Do not undersell yourself. Do research and determine what the best price is for you, but still be realistic. Having a website is not always a money-maker. Even though you may have put 30 hours a week into your website for a full year, it does not mean that you will make a sale similar to a 30 hour week salary. Some websites only sell for a couple hundred dollars.

Negotiating When Flipping a Website

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Being Honest.

When selling a website, make sure that you are completely honest. Do not make up fake income reports for the website. Also, do not fake your website statistics.

Be sure to mention the standard operating costs of running the website, such as any hosting fees that you pay, licensing, and other expenses that you pay weekly, monthly or annually.

Offer Your Services.

When flipping a website, sometimes the new owner may still need your help. You can offer your services in the sale package, such as saying that you can stay on and help the new owner for a week, month, or so on. You may also be able to charge an extra price, such as 50% of all revenues while you are helping. Yes, I have seen this happen, so it is possible.

During the transition process, the person or company who bought your website may also have questions. Make sure that you are available during this process.

Final Tips When Flipping a Website.

If you are unsure about who your buyer is, make sure to look them up. You may be able to find information about them. Also, make sure to get all of the details of the website transition and sale in writing, and sign a contract.

Have you ever bought or sold a website? What do you wish you would have known?

 

Advantages and Disadvantages of Becoming a Website Flipper

As a blogger, website flipping does intrigue me a little bit. If you can find a quality website or a website that you can morph into exactly what you want, then money can be made most likely.

Positives of being a “Website Flipper”

Working in the world of website buying-and-selling has its many advantages, such as:

  • Choosing your own hours. You can create your own schedule and determine what works best for you.
  • You are your own boss. Can it get much better than that?
  • Effectively monetized sites will start to bring in some income even before they’re sold. You can sometimes make money off of direct advertising, affiliate income, Adsense and so on. You might be able to make the amount of money that you paid for it back, and then still sell it and make money as well.
  • The ability to determine your income by the amount of time and effort you’re willing to spend.
  • Relatively low initial investments. The website you flip does not have to be a ton of money. You can buy websites on certain websites such as Flippa for $50.
  • The ability to enter a business in which your effort is all that matters–not your age, appearance, disability, or other factors.
  • The convenience of working at home–or anywhere you can find WiFi. For me, this is a huge positive.

 

Advantages and Disadvantages of Being a Website Flipper

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Negatives of being a “Website Flipper”

Of course, there are also some downsides to flipping websites…

  • You’re at the mercy of the market; if supply exceeds demand, which it might as the notion of flipping as one of the great money-making ideas becomes popular, prices will fall. No one really knows how websites should be priced, so you may be overpaying. And you need to know how exactly the website currently makes money, as sometimes that can change day-to-day.
  • It’s difficult to juggle what can at times be a time-intensive job with your work and family life. How much time do you need to dedicate to website flipping?
  • Although the initial financial outlay is less than, say, getting started in real estate or a restaurant, it is still a substantial one for many. Some quality websites sell for hundreds of thousands. How much are you willing to spend? The cheaper it is, the more time that is most likely required.
  • If you’ve never worked on websites before, you may have a steep learning curve. HTML and websites are not for everyone, as there is a lot to learn.
  • You’ll need to stay aware of hidden costs, such as hosting or any outsourcing you may choose to do. Will you hire someone to create articles or to fix old articles on the website? There may be broken links or broken pictures.
  • There is risk.

Have you ever thought about buying and/or selling a website?

 

A quiet night in: an exercise in frugal saving.

image1As much as any couple, family or group of friends might like going out, it’s never cheap. Whether it’s fine dining or going out to your local bar or restaurant, these are costs that add up all too easily. They may seem cheap once in a while but once you start doing it on a weekly or semi-regular basis, it becomes a larger and larger chunk of your expenses.

In contrast to this, understanding the benefits of a quiet night in can prove useful. More than offering something different and relaxing it can demonstrate a way to stay cheap and cost effective whilst still enjoying the usual perks of life.

Food

If you go out to eat, you should know how much this can cost. Cooking for yourself is usually the cheapest but there are still other options. For instance, if you have the urge for Chinese food, it may be cheaper for everyone to pool money together for chinese takeaways than visit your local restaurant. It’s much cheaper and doesn’t have the added costs of additional drinks and restaurant prices and other service charges that are often forgotten about.

Entertainment

Likewise, if you’re not going out, there is nothing to stop you from being social. Your home can prove entertaining enough with the right company. Cheap entertainment can be anything from a movie rental (if you’re only going to watch it once, don’t buy something you don’t need) to various games, which offer entertainment again and again. These are all cheap, whether you use it once or buy it to use again and again. This is another lesson to be learnt in saving, by understanding the real value of something.

If you come across some movies that you and your friends love, it makes sense to purchase the DVD so you can all watch it whenever you like. Luckily, you can save money by ordering your DVDs online, so you do not have to worry about breaking the bank. To make things more interesting, consider having each person purchase a DVD online and then choosing between your favorites every time you gather.

Additional expenses

Hopefully the two areas above should highlight how easy it is to cut down on those little costs for every social occasion but there are always other areas to look at. Take your appearance, for instance. If you don’t go out to an expensive restaurant you might not need to risk your best shirt or shoes. It can also save on other expenses, such as getting a taxi home late if you’ve been drinking or other travel costs.  So, next time you think you might go out, suggest staying in to the others and see how much can be saved.

Freelancing Options

 

To me, freelancing is my perfect world. I have dreamt of it for a long time, and my dream/reality is finally here. Working for yourself has so many positives. Not everything is perfect, and there are almost downsides to everything, but to me working for myself very much outweighs working for someone else.

Freelancing isn’t for everyone though. Some prefer to work for others. If you work for someone else, you can most likely go to work and then go home, without the stress of being an owner and having an unstable paycheck.

If you want to become a freelancer, then you have to have some sort of skill. Not everyone can be a freelancer because there has to be some sort of market for the services that you want to offer.

via http://www.flickr.com/photos/smemon/5730523107/

Don’t worry everyone, freelancing doesn’t mean that you can only be a writer. It’s amazing how many people consider freelance writing as the only form of freelancing in the freelance market. There are so many things out there that you can do:

  • Writer – of course I have to add this one.
  • Website/graphic designers – This is something where it really takes talent. I would be a horrible designer! There are website designer, logo designers, and so on.
  • Translators – Do you know more than one language? Maybe you can translate a language. Another idea would be to teach others a new language.
  • Editors – There are so many websites out there. They all need to be managed somehow!
  • Virtual assistants- As a virtual assistant, you can help others with their website, manage emails, help with online conferences and so on.
  • Customer service representatives – There are many companies that hire for customer service representatives where you work from home.
  • Photographers – Same with website and graphic designers, talent is needed if you want to become a freelance photographer.  Many also go to school for this as well.
  • Interior designers – Do you love to decorate and come up with floor plans? Then interior designing would probably be perfect for you!
  • Wedding planner/consultant – Planning a wedding can be a lot of fun, but also stressful. You can help a bride plan her perfect day

 

 

Do you want to be a freelancer? Why or why not?

 

The Flip Side of Flipping a Website: 5 Critically Important Factors to Consider While Selling a Website

You bought a website, stripped it to the virtual studs and made it the best it could be. Now it’s monetized, traffic is coming in, and you’re fairly pleased with yourself. What next? If this is one of your money making ideas, obviously the next step is to sell this baby–for a good profit. As you enter the final phase of your flip, here are some things to consider:

Are You Really Ready to Sell?

“Why, of course I am!” you say meekly. Because you are thinking… You really do like creating new content–writing those weekly articles on collecting owl figurines. You’ve made some great contacts on that site, even a few you would consider friends. Your ads are profitable, and you’re continuing to climb on Google. Perhaps…you’ll keep this one.

Here’s another scenario: you’ve had it up to here with this website! You can’t get it to look, act, or monetize the way you want it to. You’re ready to let it go and try another one. You type “Flippa” into your browser so hard that the “l” key pops right out of the keyboard.

Money Making Ideas: Selling a WebsiteNeither of these incarnations of you are ready to sell. In the first, you’re enjoying that particular site, and making money from it. You can obviously renovate a website, so keep the one you like, and flip another. In the latter scenario, you’re having a hard time with one site, but want to keep flipping in general. Don’t make the mistake of putting an inferior product on the market while expecting to remain in business; you’ll hurt your reputation and future money making ideas go right out of the gate.

Of course, you may have realized that web-flipping is not for you. If that’s so, it’s all right to throw your fixer-upper online and take what you can get for it–but then you’ve probably already done that, and are not reading this article. Your final answer? When you’ve created a well-designed, effectively monetized site with quality content, that you are not too attached to, you’re ready to sell.

Setting the Price

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Using an Online Escrow Service to Buy or Sell a Website

It’s time to buy. Or maybe, it’s time to sell. No matter which position you take in this website flipping business, you’ve got a lot on the line.  If you’re the seller, you need to know that you’ll be paid–that the purchaser’s money is good and will stay in your account, no charge-backs or refunds in the offing. If you’re the buyer, you need to know that you’re getting what you paid for and, if there are any problems, you’ll be able to resolve them satisfactorily. You’re both dedicated to pursuing your money making ideas, and they’re not cheap. An online escrow service could be the perfect way for both of you to protect your interests.

What is Escrow?

You’re probably familiar with the term “escrow” from your mortgage. In this version, a portion of your house payment is held apart in a special account to insure that your insurance and property taxes are paid. In other instances, an escrow account can hold a deposit or a payment, until all parties are satisfied, upon which the money is released. Auction sites like eBay employ escrow to hold the purchase price until the goods are received, upon which time the money is given to the seller. Online escrow services are ideal for big-ticket items where no one can afford to lose–expect to see them in sales involving cars, jewelry, domain names and, yes, websites.

How Escrow Works

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Five Basic Mistakes Most People Make While Picking Keywords (and End Up Crippling Their Income Significantly)

So you’ve picked out your niche based on fantastic money making ideas. You’re sure it will attract swarms of traffic and catapult you to the top of Google in no time. All you need to do is throw in some content, put up some ads and wait for the cash to roll in, right?

Well, not quite. How are people going to find this terrific site of yours?

They just type in Google what they’re looking for and my site will pop up, right?

Not quite.

The thing is, you can’t take the risk that someone searching for something in your niche will find your site, informative as it is, “magically”. You need to pave the way for this to happen by making sure you have used the right keywords to attract the right kind of traffic. Keywords (or keyword phrases) are the terms people type into Google and other search engines when they need information. How can you be sure that your content contains the right ones?  The key is to do a little bit of keyword research before your build your site.

Here are some of the mistakes most people make when they build a website. Avoid them, and you will increase your earning potential significantly.

Mistake #1: Building a site around a keyword or phrase that you think is “obvious” or “great”

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