‘The Website Investor’ is just the introduction I needed before buying a website!
The Website Investor exposes the financial potential of website ownership to everyone who ever wanted to own their own business and work from home. Whether you want to earn $500 per month or $5 million, there is already a website for sale doing just that.
Savvy businesspeople know never to start from scratch. The Website Investor reveals how to find websites with existing profits and existing customers so you can take advantage of someone else’s hard work.
This book provides a really good overview of the different steps for anyone thinking of buying a website.
The book is relatively short so can be used as a guide. There are a number of case studies which bring what the author is saying to light.
One of the key themes in the book is how to avoid being scammed. Apparently there are lots of people pretending to sell websites or mis-selling websites. This shines a light on the fact that going into this business is very unregulated compared to other types of investments. That being said, the author highlights a lot of ways to protect yourself against this. For example, paying for a website via escrow. This means using a middle party which holds the money (from the buyer) and content (from the seller) until both parties are satisfied that they will get what they expected. In this case, the buyer gets to have the website for a short period of time to review and make sure it is as advertised. Once the buyer is happy (within an agreed time period), only then the money which is held in escrow gets transferred to the seller.
Lastly, there is also a great section on how to value a website. Seems like some very attractive returns can be made!
Buying a website is unlikely to be a passive investment at outset
The author is quite open about the fact that once you buy a website there is still probably a lot to do. You need to think about how to maintain the site, improve traffic, renew ad placements and review SEO (Search Engine Optimisation). This can take some time to understand and implement. The good thing to know is that a lot can be outsourced. The pros of outsourcing should be considered before you buy as that will of course reduce your potential profit. The good thing for me is that I’ve learnt a lot about website management from building this blog. This means owning another website is not as daunting as it was when I looked at buying a website over a year ago. Don’t get me wrong, I’ve still got a lot to learn!
Is there anything that I can take from ‘The Website Investor’?
Yes. One of my actions I said I would take in my blog ‘Trying to become a Rich Dad‘ was to build a business. I feel that buying a website could be a great place to start. I could buy a relatively small / cheap one to learn. Once I got comfortable and more experienced, then I could build or buy bigger website businesses. I could link the different businesses together over time to share the traffic. This is a point raised in this book.
The chapters in the book about finding out as much about the websites before purchase and how to value a website are critical to ensure you don’t get scammed. I’m would re-read these chapters again and follow them point by point before I bought anything.
The books also references some useful market places to buy websites. The main one being Flippa.com. I’ve just opened an account so I can start my research into what websites are available to buy. I’ll keep you posted on my research in future blogs. Make sure you subscribe so you don’t miss out!
Would I recommend ‘The Website Investor’?
Yes. If anyone is thinking of buying a website then I would definitely recommend that they read this short book first. Buy it now, via Amazon.
Joy of reading = 7 (out of 10)
Thought provoking = 7 (out of 10)
Money making = 7 (out of 10)
Read again = Definitely
Overall score = 7.0