Many people start out in this site flipping business but they do not realize that they are making tons of mistakes along the way that will jeopardize the future of the site flipping business. I want you to use this guide here to make sure you build your foundation to site flipping success correctly.
Overpricing Your Sites
If you just started in site flipping and start to price your sites so that you can make more profits, you are making the biggest mistakes ever. I’ve seen so many new site flippers pricing their sites that looked like a $50 site for $200 to $300. When I first started out, when I started to get serious in this site flipping business, my average sites’ prices are $80 to $100. And i can do several of these a week. I sometimes do 10 of these in a week and it takes no time at all. Remember, i am a college student and do this in my spare time. You want to establish yourself first and then start to improve things along the way. Once you get better in site flipping, you can always increase your prices and add in more features to your sites.
No Reserve
I personally think this just doesn’t make sense. Not setting a reserve is too risky and I wouldn’t do that. Setting a reserve means that setting a benchmark bid that bidders need to bid past in order for the site to be eligible to be sold. Never, never attempt not to set reserve price unless you have some tricks up your sleeves.
Bad Sales copy
By bad sales copy, I actually meant sales copy that is either lack of important information or a sales copy template that is stole from other sellers. Firstly, you should always ensure that your sales copy covers the information that you need others to know. Secondly, never, never attempt to steal someone else’s sales copy as a “guide” or “template”. You will also want to be honest in giving details to your potential buyers. This makes you look unprofessional. You want to be building a good reputation online as a reputable site flipper.
Not Selling a Complete Site
I noticed some people are actually selling non-complete sites. If you can easily check if the site is complete by checking every links and if everything is working fine. I see a LOT of site flippers making this mistake. For example, there are a few site flippers who did not categorize their blog posts.
Not Making Money of Your Previous Customers
The customers that you sold the sites too are very valuable. You can sell them affiliate products, hosting and much other great stuff and surprisingly they are more willing to buy from you! Here is a list of things that you can sell to them:
– Web hosting
– Articles
– Graphic works
– Affiliate products
You can also keep a list of your previous customers and sell them more sites in the future! By building a list of your previous customers, this will help you in the future because these customers who already bought from you already trust you and love your service (if you provided them excellent service). You can easily keep contact of your buyers by using an autoresponder service such as Aweber.com
Listing Start-up Sites for Far Too Long
Start-ups are not meant to be listed for a long period of time. If you are selling a start-up blog for example, always list it for 3 to 7 days. You want to create that sense of urgency and mentally force your potential buyers to hit that BIN bid.
Let the People You Outsourced Control You
When you are paying them to write articles or design stuff, make sure you always get good quality stuff. If you are paying them, make sure they are producing what you want. Always demand for high quality products!
There you have it! Now go to your favorite site flipping website and start making some money! I prefer Flippa, but there are numerous other ones out there as well to try out! Good luck.