Maybe I will sound pessimistic, but I always try to have in mind the worst case scenario when I do any kind of business online.
If in a certain month, I am doing espasically well selling websites on Flippa, for example, I always say to myself:
“That’s great that I am doing well NOW, but what will happen tomorrow?”
I feel that one should ask himself / herself the same question, and not say:
“Well, I will cross the bridge when I get there”
This same logic of course doesn’t apply only to Flippa, but it applies to any kind of business you do online.
I remember that for a long time there were many successful eBay sellers that were making a lot of money selling digital eBooks on eBay, then one day, eBay decided to change its rules, and from that day onwards didn’t allow sellers to sell digital eBooks on their marketplace at all.
Some sellers adjusted their business to the new rules (by selling their eBooks on cds) but others who didn’t want to to adjust themselves or couldn’t have lost their entire successful eBay business overnight.
This is why, as the old saying goes, you should never put all your eggs in one basket.
Maybe if bankruptcy wasn’t an option I would speak differently, but as well all know businesses close their doors (for many reasons) all the time – small business can close their doors, and gigantic business can close their doors as well.
This is why you need right from the start to build your business correctly.
The best way to build your Flippa business correctly is simply not to treat it as your main business, but rather as a:
BUSINESS CARD
I see many sellers (veteran as well as new) aim on making a lot of money for each website they sell, meaning, they build a website, put it on auction, and hope to get the best price possible, and that’s it
Yet, I feel that they should have a different mentality altogether.
What happens DURING the auction, and AFTER the auction is much MUCH MORE IMPORTANT than the ACTUAL SALE of the website.
It’s very much like when you have a grocery shop where you sell newspapers.
The profit is not in the newspapers, but rather the profit is from the money that people spend after they buy the newsletter.
The newspaper, milk, etc.. is just a tool to get people to the store, but not the primary income of the store owner.
The websites you sell on Fippa are no different than the newspapers, milk, etc..
The aim of the websites is just to get you exposed to people who are looking to spend money.
Yes, that’s it.
I will say this again it again in different words because it is so utterly important.
The aim is to not the amount of money you earn from selling the website, but rather the aim is to be where the buyers are.
So many website sellers are getting this wrong.
Let’s take just three simple examples of what you can achieve during and after the auction:
1) If you have followed my Flip Course you have a link to an optin box under your name, and in your auction’s comment box where you collects emails of website buyers who want to be notified whenever you release new website packages. So, during and after the auction you can collect email addresses, and next time when you have a website to sell you simply send an email to the people on your list about your new auction. You can repeat the same process for years.
2) Website buyers can contact you during and after the auction, and ask you if you can create sites for them off auction. If you decide to do that or hire a person who will do that for you, you can make extra money without paying the Flippa fees.
3) After the auction ends, and your buyer pays you, you can make more than $300 (per customer) just by recommending him / her other services (which you sign as an affiliate for) that can help him/ her, for example, hosting, a mailing service, a traffic course, and putting the site on Clickbank, you can watch this for more information.
So, as you can see the money is really in the backend (in the upsell) and not from the front end offer (the website).
Hope this helps, and I would love to read your comments below!
{ 14 comments… read them below or add one }
Amir, I agree with the points you made in this post. Too many people focus on the instant gratification of the sale and not the possibility of the long term value the customer offers.
If more people focused on the value they can offer their past customers and the value of those customers, more IMers would be more successful in their efforts.
Thanks for the reminder.
Nancy
Hi Nancy,
This is why I always say to people who want to build any kind of online business:
Build a mailing list right from the start.
A good autoresponder, for example, is one of the basic tools you need to have to increase the long term value the customer offers.
Many people try to avoid the cost of a good autoresponder because they want to make money now, and they see the autoresponder as a new monthly expense which will not effect their sales.
Yet, it is the other way around. If you are serious about having an online business for the long run you really must have an autoresponder to make more sales.
Thanks!
Amir
I must say, you have given me something I never thought about before. I know with internet marketing, the real money is in the backend. Never thought about it before on Flippa.
I think it’s a brilliant concept which I plan to implement immediately (as soon as I make my first sale : )
Much Thanks and Best Wishes
Carl Willoughby
Hi Carl,
I am very happy to hear that I have given you something new to think about.
Good luck with getting your first sale!
Amir
Very true. Makes a lot of good sense. Thanks for reminding me of this. You point out the full potential that might otherwise be missed.
Hi Terry,
Yes, you should always try to get the most value from every sale.
Thanks,
Amir
Hey Amir,
Thanks for the great information I learned some new stuff here today.
To Your Success
Regards
Zora
Hi Zora,
I am happy to read that.
Thanks!
Amir
Great advise Amir ..don’t worry I am listening and taking it all in
keep it coming my friend
Thanks Al, I will.
Hi Amir,
You are exactly right about making the most money off of backend sales, but you didn’t mention a crucial point in your post (probably out of modesty). Most buyers are willing to spend that extra money for extra products ONLY when the first product they’ve bought from you was a quality product.
I just bought your Blog flipping course, your flipping course, and your advanced flipping course. I thought you did a great job. You promised that you would teach “baby steps” and you delivered. The information in your products was exactly what you promised and were the missing steps that have been keeping me from flipping websites.
Because of your courses, NOW I finally have the complete information that I need to begin doing this. Many others make promises and don’t deliver. You delivered.
So… with all that said, you can bet I’ll be happy to sign up at HostGator and Aweber using your affiliate links and also any other products you produce.
The lesson here is: Always have affiliate products that buyers can sign up with so you make money on the backend, but deliver quality and what you promised first. If someone makes a promise and doesn’t deliver, I will not only not use their affiliate links, but will also never buy one of their products again.
Great job, Amir. I REALLY appreciate it!
Hi Debbie,
Wow, it is so nice of you to say this. Thank you!
Yes, the money is really in the backend.
I think you are 100% correct when it comes to selling digital products (like ebooks, video courses, audios, etc..)
Yet, when I contact my website buyers seconds after they complete their payment for the website they bought from me on Flippa, and offer them to go via my affiliate link to purchase hosting, autoresponder, traffic couse, etc.. they still don’t know how well the website they just bought from me will preform for them.
Again, thanks for your very kind and detailed comment!
Amir
Nice post Amir,
It’s good to be reminded of this stuff now and again
Keeps you on your toes
Cheers
Arthur
Thanks Arthur!