Tuesday, 13 December 2011

Ten Ways To Make $10k Part 5

TARGET Other Marketers

 So far, we’ve talked about different ways to make $10,000 per month which mainly (although not exclusively) focused on selling directly to consumers.

But another way to make a lot of money fairly quickly is

by focusing on other marketers.
That’s because people will pay handsomely if you can give them what they need to make even more money.

And one way to do that is by flipping websites (i.e., selling or reselling websites).

There are two ways you can build a business flipping websites. You may focus on either way exclusively, or you may combine them to grow your business. Here are the two models:

a) You build niche websites and sell them directly to consumers. Within this overall model, there are a few different ways you can build these sites:

• You can create exclusive websites and sell one site to one customer for a higher price.

• You can create a template site, load it with private label content, and sell it to multiple customers (provided these customers know it’s not an exclusive, unique site).

Some marketers who sell exclusive sites simply create the site, load it with content and sell it directly to other marketers based on the traffic and profit potential. If you have a system for building sites very quickly, this can be lucrative.

Other marketers choose to spend a few months building the content, traffic and income – and then selling the site at a much higher price. Since the site is pulling in traffic and a profit (even if it’s a small profit), it commands a higher price because there’s proof that it’s profitable. People are now buying into proven profits rather than profit potential.

b) You buy poor-performing niche websites, tweak them, and resell them for a higher price. The second way to make money flipping websites is by scooping up cheap, under-performing websites, tweaking them, and reselling them for a tidy profit. Here’s how:

• Search places like eBay, SitePoint.com, DNForum.com and similar marketplaces for low-priced, low-profit websites where you can clearly see how to boost profits. You can usually pick them up for a few hundred dollars.

• Tweak the sites. Improve the sales process, monetize the site better and start driving traffic.

• Once you have better conversion numbers and the site is making a proven profit, resell it for around 6-12 month’s worth of profits. For example, a site making just $100 per month could sell for $600 to $1200 (or even more, if you find the right buyer).

• Reinvest some of your profits into buying more sites. Rinse and repeat until you’re making at least $10,000 a month!

For more information about how to turn this simple idea into your own personal $10,000 a month cash cow, click here.

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