SideProjectors is also a great place for sellers to go to list those projects that they put a little bit of time and effort into but didn’t totally build out into a fully-fledged business so they can get a little bit of a return on their investment. Never leave a side project abandoned again, just use SideProjectors to transfer the assets and operations to someone willing to pick up the task.
If the due-diligence process is new to you, and you've never bought a business before, then online marketplaces and auction sites may not be the best options for you. On the other hand, even if you do have a great deal of experience with the sale of online businesses, there are times when working with a broker is still the smartest thing you can do.
Online businesses go far beyond building a Website. It’s not an: "if I build it they will come" business. Sure, you can have clients worldwide, but they have to find you before they can buy your goods and services. If not, it would be like Wal-Mart opening a new store with more products at deeper discounts, then locating it ten miles offshore in the ocean. Even if they offered a 50% discount off every item, nobody would make the trip to the store. You need to figure out how to get people to the store (the Website). In other words, you need to market the business and figure out how to get the store to the land where all the people are (translation – how to get people to your site).
Personally, I love the online business model. My company now does business in over 70 countries. The business has no inventory, no receivables and a handful of employees; we outsource nearly every key function except customer service and support. I have absolutely no technical expertise. The entire business is automated and it’s incredibly profitable. An ideal business model, isn’t it?
Hey Maria, why not do both? Having a blog to attract traffic, improve your SEO, build trust, and demonstrate your expertise is a perfect companion for a freelancer site. You could offer your services and also make the blog a centerpiece of your web presence. In addition, you are honing your writing skills and can use those for guest posting on other health/fitness for increased exposure.
If you’re selling products, either hire a freelancer to do the job right or invest in the equipment that you’ll need to take and edit high-quality photos. If you’re not sure you can afford professional images, check with local colleges to see if there are students looking to learn and build their portfolios that cost less than well-established professionals.
Pay-per-click advertising is the easiest way to get traffic to a brand-new site. It has two advantages over waiting for the traffic to come to you organically. First, PPC ads show up on the search pages immediately, and second, PPC ads allow you to test different keywords, as well as headlines, prices and selling approaches. Not only do you get immediate traffic, but you can also use PPC ads to discover your best, highest-converting keywords. Then you can distribute the keywords throughout your site in your copy and code, which will help your rankings in the organic search results.
Evaluate the pros and cons. The fact that your customers will have to visit the third party to buy from you has benefits and drawbacks. If you are interested in renting out your vacation property, using Airbnb’s platform means that it will probably be easier for anyone to find you when they search for lodging in your area because of Airbnb’s growing popularity.
Some businesses need to set more than one target audience because different groups of customers will have different goals with regard to their product. If this is the case, you can focus your marketing on the biggest and most promising group of customers. Or else, you can try to find where these groups intersect and try to produce one-size-fits-all solutions. The second approach seems better to me. What do you think?
It’s possible to set up a website yourself, but unless you’re a designer or Web developer, you can expect a pretty steep learning curve. If you have the budget, consider hiring a professional to help you with some or all of the following: configuring the site to look the way you want and include the features you need; creating and inserting a logo; optimizing the site for search engines; and creating text and images. For more information, read this guide by Foundr with a detailed explanation of what it takes to setup website and develop it.
The online business should have a track record of sales and profits you can see before you buy the business — always check out the financials. Don’t rely solely on what the seller tells you. One thing to keep in mind is that you shouldn’t buy an online business for sale solely because it is a big moneymaker. That’s important, of course. You should have an interest in the niche too.