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You Think Flippa Sucks, You Are Doing It All Wrong

Discussion in 'Making Money' started by BassTrackerBoats, Apr 15, 2017.

  1. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    So, a year or so ago I bought a site on Flippa for under 1K that was not setting the world on fire as it was something that I thought I could turn around.

    I sort of did but did not hit it our of the park but the money was well spent and the site is earning on a regular basis via PPC advertising on Bing. Again, nothing huge but earning nonetheless.

    In that I owned that site in that niche I joined forums related to that niche and shared ideas, asked questions and generally got a little involved in a few of them.

    That helped me understand the market and made it easier for me to sell the products (it was an ecommerce site).

    Today I sold the site for a $ figure significantly higher than I paid for it.

    I advertised the ecommerce site for sale in forums that deal with content in my local area... well a 100 mile or so radius, using my signature all the while contributing here and there as I wanted to be able to meet face to face with any prospects so I could sell them on what I had to offer. Selling online is 100% fine but if I am face to face I can see expressions, read body language and respond accordingly. I've done a fair bit of selling face to face in my day so there is a little experience there.

    I spoke to a handful of people in the process and ended up with a meeting early this week with a person that has an IG following of a little over 16K which is all natural and legit followers + their account is in that niche. That made for some easy sales "content" as we talked about the site, how to market it, what is involved in running it and how the value of what they would be getting is well over the asking price.

    Yesterday, I got a text:

    [​IMG]

    Part of this was luck I am sure but part of it was being sure to do a few things that built trust and value.

    The buyer was a female so our initial meeting I brought my wife. I never meet with females the first time without my wife or some other female and I rarely meet with them after that without an accompanying female. I do that to instill trust that this is not some dirty old man and to show that I respect the female enough to be sure she is 100% comfortable.

    Having my wife there was particularly helpful as she had a baby with her and my wife was able to keep the baby entertained while I shared what was being offered.

    I over share what they are getting and then I over give what I over shared.

    I prepared a bullet point PDF of everything they would get and went over it line by line so they knew what each point was and how it would help them in their business.

    Then, I did the Columbo thing, I said I did not add in the following things and went through those and hand wrote those on the printed out PDF.

    The value added by sharing every minutia of what you are offering is huge when selling anything and can actually be "This guys is nuts giving all of this with this deal" when in reality it is what any decent normal human being would do.

    She'll be much more successful with the site than I was as it truly is a passion for her and I was only in it for the buck.

    She will also catch on real fast as she is quite smart and gets some of the technical aspects of the IM industry but has not really put anything into play because she sees but does not know how.

    I offered support for a period of time but to waylay a lot of unnecessary emails/calls/skypes/text messages, I made a series of Videos that she can access to learn how to do this and what to do here. That is one thing I do whenever I sell a site so that I am not having to deal with some of the easier tasks.

    She will still get all the support she needs as well as encouragement as I want her to be successful. Only a jackwagon would think differently.

    One other thing, I brought along a present for her daughter at the closing and gave it to her at the onset so that if she had cold feet she would think differently due to the gift.
    • Buy something you think is undervalued and can build.
    • Find different ways to generate revenue from it.
    • Market it for sale in places that make sense to you and others.
    • Over promise and then Over deliver on the promises.
    • Be super thorough in making the prospect understand what they are getting.
    • Make it easy on yourself and the buyer by preparing instructional info/videos.
    • Have the attitude that you want the buyer successful and follow through.
    So if you think Flippa sucks, you are doing it all wrong.
     
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    Last edited: Apr 15, 2017
  2. bonerlicious

    bonerlicious BANNED BANNED

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    I've thought about buying from flippa but so many scams and I don't really want to put in any effort on a site I didn't build myself

    How long from the time you bought to sold did it take you to build it up to make a return profit?
    I don't expect you to say how much you sold it for, but can you give a ballpark percentage? Like 400-500% or something like that?
    ETA: what type of money was the stie making when you bought it?

    I worked for a guy that turned a site around and sold it for six figures after about 2 years, so it happens. That wasn't his profit, but he started at 0.
     
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  3. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    Problem with the sites I've been seeing on Flippa and other well known brokers is the multiples. They're selling for 35X and above. WHAT? Three years to see a profit in this business that can change overnight? No way.

    But this is an excellent post. What BTB did here is what made Warren Buffet rich! He used to buy stocks in companies just to improve them and build them up then sell the stocks for hundreds more. He did that to some of the biggest co's out there.

    Nice share BTB. Gave me several ideas.
     
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  4. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    I bought it around a year ago and got my money back inside 6 months taking into account the amount I spend for the site, the changes to the site I paid for + the advertising expenses.

    The site was not making very much at all when I bought it but it looked to me like a decent product line and even if I lost every dime on the purchase at least I would have learned something.

    If I give actual dollars/return this turns into a bragging thread and that is not my intention.

    My intention is to share a way for others to bank using a site that most of us think is crap.
     
  5. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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    My exact vision for sharing.
     
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  6. bonerlicious

    bonerlicious BANNED BANNED

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    That's a nice turnaround time to make money.

    I've browsed flippa and I am sure there are gems, but a lot of it is junk. I guess that's kinda like what they say at Upwork and I do just fine there. It just takes understanding the system and people. Flippa I imagine is the same.

    I have a few ideas and my budget was $1000 and flippa was one. I'm lazy af but on point with my work (which is what affords my laziness hehehe), so it takes me a long time to commit to anything. I'll have to take a look again.
     
  7. ZlatanTheGod

    ZlatanTheGod Jr. VIP Jr. VIP

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    They said Flippa is dead.
    [​IMG]
     
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