There are tons of different ways to make money on the internet, and one of my personal favorites is flipping websites. This business model allows you to create a solid product and sell it for cold hard cash that is immediately deposited into your bank account. There's no waiting around for an affiliate payout or for Google to cut your Adsense check every month. However, as with any business model there are certain essential steps you need to take to avoid website flipping failure.
The first and most important step in creating a website to sell or buying a website to improve upon and then sell is market research. Without proper market research you will inevitably find yourself the owner of a website that no one really wants. My favorite place to gather accurate data is Flippa.com (Flippa is an auction website solely for buying and selling websites). Here you can sort buy "just sold". Take a look at the kinds of sites that have sold and that have gotten a good number of bids. Take notes and if you're feeling thorough make a spreadsheet to track the data you collect. After a few hours searching through Flippa and taking note of the popular websites you will have a very good idea of what kind of site you should create or purchase and improve upon.
If you don't put together a product with quality content don't expect to bring in the big bucks when flipping websites. It's really easy to just throw some PLR content in your site and call it good but that will bring the value of your site way down. Additionally, if you've done your market research you'll have probably found that the sites with unique, original content will dramatically increase the selling point of your website. To avoid website flipping failure always populate your websites with original content.
Once you've done your market research and created unique content for your website the next step is actually selling the website. People have made millions solely on their copy writing skills, that is, there ability to write persuasive sales letters that convert well. I would highly recommend reading The Ultimate Sales Letter by Dan Kennedy to get a basic idea of how to write persuasive copy. Although you're sales letter isn't a part of your actual website it is just as or more essential than everything else combined. Don't just write a plain explanation of your website and hope it sells well. Study up on effective sales copy writing.
Last of all you need to make yourself very available to your prospective buyers. You can have everything else right and if people can't get in touch with you they'll only get frustrated and find the next best offer. Not only will being a good communicator sell websites but your reputation will spread as you sell more and more websites.
Follow these basic steps and you will no doubt avoid website flipping failure.