Where have all the Ideas Gone? + Acquired New Site
I was just thinking the other day that my brain has suddenly been void of many ideas. Comparing myself to last year, I found that in the summer I had 3-4 projects on the go which was keeping me busy. Now I know my schoolwork is taking a priority this term, but I’ve found that I havnt thought of any cracking ideas that will help me on my mission to become a first-class internet entrepreneur.
That’s why I’ve decided to go hunting for established websites and trying to do a quick flip. In case you don’t know what site flipping is, its the concept of buying a poorly-run site which has a lot of potential (for say $100), spending a few days/weeks tidying it up and making it more presentable and trying to effectively monetize it, and then selling it after a bit for $200. Of course these are all hypothetical numbers, but if you can do a good job of sprucing up a website (or blog) coding-wise or in another way then flipping does become quite fun and easy (almost exactly like flipping real estate).
So after my drought of ideas, I thought I’d better expand my internet portfolio a little, so I teamed up with another famous blogger and bought a semi-established site. At the moment I can’t reveal any names or website details, but this blogger has close to 1000 RSS Subscribers, which along with my 200, gives our site a nice platform to launch off.
Quick Tip: When purchasing a site, don’t be put off by high numbers that the seller may be quoting. Be honest and give your lowest affordable price and in most cases, they will come down to your price range instantly. And don’t be embarrassed to ask for a discount either – every dollar saved is good work!
Our aim is to have this site run-off autopilot with others doing the hard work for us. I suppose you could call it an AIS eventually, except that at the beginning, a lot of hard work is needed to give the site high rankings in search engines and lots of organic traffic to work on and to monetize.
Anyway, I just wanted to give you guys an update – it seems like the days of GolfChum and ChipandChat are long behind us! As a sidenote, those two sites and their concepts never got developed, but I’ll spend another post talking about those!
How are your projects/websites going? How have you managed to expand your internet empire? Please respond in comments so we can all share our growth stories.