You have some spare $5k? Today I will learn you how irreversibly get rid of it in very stupid way. As everyone most easily learn on examples I will present you a one. You know that in website flipping industry (buying and selling websites) is a lot of money. Just to make you sure flippa have just announced on twitter that they have beaten a new record by selling websites worth $2M in March! So it looks that if you want to get rid of $5k you may buy a website!
But you have to be really careful when buying a website! As by mistake you may buy some really great money maker! And you won't be able to loose your $5k!
First check the market and competitors...
So first make sure that website you are going to buy
- is not unique,
- is very easy to reproduce,
- have no any traffic,
- is not well positioned,
- there is no easy way to make money from ads as people who use the site will visit it no more than once...
So here is a master piece in loosing $5k:
I have promised you to give some great example. So here it is. Yesterday I have retweeted this message from flippa (with my little comment at the end):
You may think WOW! Complete start-up for $5k! Probably they got a lot of traffic...! Or maybe it was some great unique idea that the seller had? You will be totally surprised! Seller just got a lot of luck in selling it!
I know you really want to get known what site I am talking about... So now I will give you a link, see it by yourself and then come back to read rest of this post - http://alertx.com. And here is the auction on flippa.
What is it really worth...?
It may have nice design and nice domain (not a killer anyway). But it is all that may be valuable on this project. What about the total website value?
First would be the idea. It is not unique at all. There are hundreds of free services that monitor uptime of your website for free! By myself I have even written some time ago a 5 lines long bash script that ping my website and send me the email when it is down! That would be all about the "awesome and unique" software part!
You may ask what about 60 subscribers that this website have? I will tell you... They will never come back to visit this website! They have set up alerts and they will just get an email once per year or so that their website is down... what for should they visit this site again??? So no ads revenue...
What about their huge traffic...? They have 90 uniques visitors per month! So it is 3 visitors per day... I guess these are some spam & search engine robots... LOL =)
But design and domain is looking nice - and this complete script...
Design is not bad. Same for domain. But you may get any domain for less than $9 on namecheap. Just spent an hour or two to find some free and good name ideas.
And what about the script and the design...? You may be really surprised but you may get such for no more that $100 per each ($200 in total on GetAFreeLancer or similar website...).
So in total this website may be worth no more than $300 (additional $100 for good - but not killer one - domain name).
Want to loose your $5k...? Find similar website & buy it =)