222 – How to Cash in On Those Old Websites that You’re No Longer Working On

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Finally, our lastest podcast is up! It’s been a couple of weeks since the last episode so my apologies for the wait. Russell’s been out with the flu for the last week and a half, so I went ahead and recorded a show this past week so all of our listeners wouldn’t think we dropped off the map.

time2sell

This past week, my good friend David Dutton of Marketing Matters Podcast sat down with me for a “podcast chat”. David lives in the Nashville area, and I travel over that way every other week.

He and I usually get together at a local coffee shop to chat and share ideas. I thought our conversation this past week would make a particular good podcast topic, so I recorded it with the Zoom recorder.

Selling Those Old Web Assets
So maybe you have some old websites that are bringing in a moderate amount of monthly passive income, but you have no interest in working on them any longer.These are probably sites that you saw tons of opportunity when you first created them. You knew it was a great niche based on the keyword research.

I’ve created my share of those. If you have enough of these, they can make a nice monthly residual income.

But what if you’re no longer interested in working putting the work into them? The whole notion of “set it and forget it” is fading away.

With Google’s latest updates in their effort to clean up the search engine landscape, sites models like this are losing their positioning as quality resources in their eyes.

So if you have like sites this, it might be a good time to check the open market and see what yours may be worth. David has cashed out on one or two of his sites and has been made a generous offer for one of his others.

We’ll be chatting about factors that make a website valuable in the minds of potential buyers. It’s not always just how much income that site is bringing in on a monthly basis. There are are other factors like the site’s name, the email list, the potential it has with going viral in the social media realm.

A prime example is a mutual friend of David and myself. This guy created an inspiration website that consisted of nothing but videos that could be shared on Facebook. The site was not really keyword specific; it just had a lot of videos that people like and tend to share with others.

After 10 months of creating this site, he sold it for $40k. That’s right $40,000 for a site that was not super targeted when it comes to search engine traffic! The key there was potential.

We’ll be discussing how anyone can use his method for building and selling these sites. David does very little hands on work when it comes to launching a new site. Of course, he conceptualizes it and mind maps it out. That’s the biggest part of the process. But David hires out people to put everything in place. He created one of his most popular sites CoolestPlacestoVisit.com without ever writing a word himself.

David’s a project manger; not project worker. He embraces the whole concept of working on your business instead working in your business.

You’ll here all this plus, I’ll be taking more questions at the beginning of the show.

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  • http://www.dailybreadgivers.net henrystellen

    Not only restoring websites is a good idea, but showing a successful short track record is more than enough to convince a buyer to spend a good amount of money to get your website

  • wesleytanger

    I keep looking into buying and selling websites, but have no experience in web design, but was thinking about hiring out a web designer to work with me so I can be a middle man. Is that a good idea?

  • http://www.dailybreadgivers.net stacypeterson

    Yes Wes, there is a great advantage hiring out someone else to do the work, especially if it involves being the middle man.

  • http://www.fiverrbucks.homestead.com rileyfranks

    I am wondering if websites will be a thing of the past and apps will take over. Not sure.

  • http://profitablesunrise.homestead.com mikestenson

    Apps are great, but I believe we will always need a website,  because where else are the people going to go to after viewing the app?

  • http://www.dailybreadgivers.net marytalbat

    I am a big website guru, always loved creating them and selling them, but I believe that you can always come up with a high niche website with a good web designer to save time.

  • http://www.dailybreadgivers.net marygilbert

    Can you guys head me into the right direction to find some web developers to make websites for me, because I have the vision, but not the skill to do it.

  • http://www.dailybreadgivers.net margieweston

    Yea Mary you can try Freelancer.com or odesk.com, there are many web developers who are willing to get you a good deal on their bid to do your website job.

  • http://www.homebizcustomizer.com katiekristy

    I like odesk, but you can also privately find a freelancer cheaper than those sites over seas. But you will have to do a little more searching in forums and other resources.

  • http://www.dailybreadgivers.net jerryweek

    Thanks guys for all the info, I am a real newbie at this and you are making me feel like  I am a pro now.

  • mandyallenemail

    I’ve often thought about flipping sites, and I’ve certainly had a few that could have been sold on, I’m sure but I didn’t do it and now I do wish I had! 
     
    Enjoy the journey.
     
    Mandy

  • eds_garage

    I have honestly never thought of that, I just leave them sitting dormant in my godaddy account. Thanks for the heads up!

  • Freyya

    I have a handful of websites that are just sitting there. I had the best of intentions when I initially set them up, but I’ve moved on. The reason why I’m yet to sell them is because the process seems a tad cumbersome to me (writing a good sales pitch for it, figuring out the site value, trusting a potential buyer, transferring the site, etc.)I might have to rethink that though after listening to the podcast. I’m basically leaving money on the table with those dormant sites.