So I talked with a friend who was hoping to live the internet marketing dream, but instead found himself the owner of 20 websites that make no money. Does this sound like a familiar story?
He told me what he had done, and the mistakes were obvious to both of us. First, he started new websites when he could have used Prosperly principles to find and buy ones that would have saved him the years of ramp up time to start getting real traffic. Second, instead of spending his time and money as a beginner on a couple of sites, he bought 20!
Now I’m not saying that having and running 20 websites is impossible. I’m just saying that you should start with a couple, fix them and automate them, and once they are profitable then buy a couple of more. It would have been better for him to have focused his time and money on developing a couple of performing websites versus 20 do-nothing websites.
Think of it this way, if you were flipping real estate would you rather buy a couple of TLC-need properties and put your time, money, and work into building assets that you could rent or sell? Or buy 20 vacant lots and construct a shell of a property that would be way too much to manage?
I always tell those who ask, especially beginners, that it is better to simplify than to go with the shotgun approach to see what sticks. I understand that since you don’t know what will make money the temptation is to do a ton of websites and hope one does become successful.
In the beginning there is too much of a learning curve. Since there are 4 stages (Buy, Fix, Run, Sell) of the website flipping process you should only be acquiring new websites when you have moved the websites into the Run stage.
This means they are out of the Buy stage and Fix stage. Try to have only 1 or 2 in Buy and Fix stages at all times.
Keep this in mind when you are looking for a site. Don’t become the owner of vast digital wasteland. Build slowly and grow your internet empire the right way.