How to sell your website Selling your website or online business might seem like a complicated process. When you add in steps to try to maximize the value pre-sale, things get even more complex. Below, we outline a 7-step process that will help you navigate this challenge.
1. Diversify Your Traffic Sources If your business is currently relying primarily on paid traffic and ads, you should diversify your traffic sources before considering a sale. In particular, you want to focus on increasing your organic traffic. Organic sources of traffic have higher profit margins, but that’s not all. Experienced buyers and brokers put a lot of value on long-term stability and ease of management.
2. Create Processes and Use Third-party Services Some types of websites and ecommerce stores require more involvement than others. If you are running an ecommerce store and are currently fulfilling your orders yourself, you should change that before selling the business. You must minimize your involvement in the business as much as possible before selling it. Potential buyers who have the capital to buy a business for a flat fee of tens of thousands of dollars aren’t looking for another full-time job. They are looking for ready-made investment opportunities. That typically means a business that’s automated and requires very little hands-on work.
3. Get Your Financials and Traffic Reports in Order Nobody is going to invest in a business that doesn’t have evidence of its finances and assets. If one of your online business assets is organic traffic or a social media following, take steps to document this properly. Keep in mind that marketplaces and brokers require months of verified financial and traffic reports. So make sure that you have installed Google Analytics or an alternative on your website. Sales reports can typically just be exported from any ecommerce tool and are less of an issue.
4. Choose the Right Marketplace or Broker Once you’ve dotted your i’s and crossed your t’s, it’s time to move on to the selling part. The first part is choosing the right place to sell it.
5. Know Your Potential Buyer and Customize Your Sales Page When you’re creating a page to sell your website, you need to know who your prospective buyers are and what they are looking for in a website. Watch this interview Empire Flippers did with a buyer and listen to his priorities and his fears.
6. Prepare Your Team or Virtual Assistants for the Sale Once you’ve decided to sell the business, you need to prepare everyone involved for the potential transfer of ownership. Ensure all the stakeholders understand the situation and that the core members are ready to help the buyer transition into the role of owner/operator.
7. Know What Your Site is Worth To avoid losing big, you need to know what your website is worth. Before you pull the trigger and sell your website, you should have a rough idea of what it could bring in.
Article by patrick matthew for Cox Business News
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