In the life cycle of nearly every Internet Business, there comes a time when selling your website makes more sense than carrying on with it.
Perhaps you are in that position.
Maybe you have lost passion for your brand…
Or the business is struggling to make a profit
Or you have found a new project of interest,
Or you simply want to cash out!
When to Sell Your Website
The benefits to selling your website are many but the key to making the most of the transaction is to consider your timing and motivation.
- While it is not always possible, the best time to sell your site is when it is profitable.
- Potential buyers are more likely to offer maximum value when they can see signs of sustained growth and profit.
- Strong revenues allows buyers to imagine their own profit margins which motivates their purchase.
In short, your buyer needs to easily see how they can add value to the website and profit from the purchase.
So focus on that when offering a website for sale.
A good question to ask when selling a website and constructing an offer is…
Why Would I Buy This Website?
Answering that question will allow you to find more potential buyers.
But selling your website can do so much more than just pad your bank account…
It can renew your passions and improve your life as a whole.
If you have been thinking about selling your business but have been too afraid or uncertain, it is time to take a step back and consider all the ways that selling your website can be more profitable, and beneficial to you, than keeping it.
Selling your website right now may not be the direction you envisioned for your business – but don’t underestimate the value your hard work and brand will have to someone else.
Start by getting a website valuation.
Once you know what your site is worth to a potential buyer, you can make an informed decision about whether or not it is still worth it to you.
For some tips on getting the most cash for your website check out this post.
And if you want to start increasing your website value – prior to selling it – take these action steps!
4 Reasons For Selling Your Website Right Now!
#1 Cash In Hand
Selling your website gives you a near instant infusion of cash. Whether your business is profitable or experiencing a bit of financial stall, selling can give you months or even several years worth of income at one time.
Maybe you are in a jam, maybe you are tired of investing everything back into your business, whatever the reason for needing money, selling your site is a way to make that happen with relative ease.
You have done the hard part and built an attractive business – could now be the time to reap the rewards?
Cashing in on your hard work could well be your next best move.
#2 Free to Try New Things
Selling your website frees you up to follow other business interests.
This exit strategy can be particularly useful if you have lost interest in, and passion for, your current business. Sometimes what started as a dream can become a complicated, costly nightmare.
If you do not love what you are doing, you will find it very difficult to turn a profit.
By selling, you are able to walk away from a ‘job’ you no longer love while securing a little or even a lot of money in the bank.
Sometimes selling a business is not about having a lack of interest in what you are doing but about having more interest in doing something else.
If you have an idea for a new business, or have found one you would like to purchase, the money you make from the sale of your current site can help you move forward with these new projects. Elon Musk is a great example of an entrepreneur who sold businesses he started to turn around and immediately start another business.
Elon Musk didn’t waste the $22 million he got from Zip2’s sale on expensive cars and luxurious mansions. He reinvested — and risked — everything to build his second company, X.com, which would lead to PayPal. The sale of PayPal to eBay would net Musk $180 million, which he would then use to fund SpaceX, Tesla and SolarCity.
Could you be the next Elon Musk?
#3 Freedom from Control
Sometimes, you have done all you can do for your business and it may well take a new owner to take your website to the next level!
That is not a bad thing.
You will hopefully get well rewarded for your Big Idea and the new owners have the hard job of taking the website to the next level.
In any case, if you are struggling to get to that next level, it could very well be that you have reached the end of what you can do within your particular skill set.
When growing and nurturing a new business it is easy to become protective and try to do it all yourself. Success requires a wide number of skills such as customer service, design, marketing, programming and copywriting to make a real go of it. And even if you have these skills, when your perspective is the only perspective, your business may become limited in scope and resistant to change.
Outsourcing is a valuable tool for enhancing proficiency in areas where you come up short but not everyone is willing to handover that much control to a third party.
For some, investing time and money into finding the right outsourcing partner is simply not worth it. Instead, it makes more sense to just sell the business than to incur the risks associated with involving more people in the project.
If you are someone who has reached the end of the line, selling may be a way to be compensated for your work while watching your creation grow and continue to flourish.
Did you really do all that work just to watch the business plateau?
Let go of the reigns!
It is someone else’s turn!
#4 Reclaim Your Time – take that long promised vacation!
Selling your website can give you back your life.
Running a business can be a time consuming task. It can eat up all your spare time and pull you away from some of the finer things in life.
Yes, it is great to make a profit and invest time in your business – but it is also nice to have you life back!
When you sell, you are free to pursue hobbies. Free to see your family. Free to take a long, deep breath followed by another and another. You are free to relax and decompress.
From here, what you do next is entirely up to you. You can retire, travel the world, follow new passions or a different career path.
Maybe, as mentioned above, you will decide to start an entirely new business.
Really, the time is yours to fill as you see fit!
Before You Sell Your Website
Obviously you can benefit, both personally and financially, from the sale of your business but before you jump into the process of selling your site, it is important to slow down and consider a few things first.
Why are you selling?
Before you begin the preparations necessary to sell your site, you should consider why you are doing it?
If you have lost genuine interest, have found another business opportunity you would like to explore, or are facing a personal emergency that requires you to step away, your reasons are solid.
But, if you are planning to sell as a knee jerk response to a few bad months, you might want to reconsider for two reasons:
One: All businesses have ups and downs that can be caused by any number of things.
Maybe there has been a Google update or a shift in the marketplace that requires an equal shift in your marketing strategy. Maybe you are experiencing seasonality. The emotional response to cut and run is quite understandable, but it is not necessarily an appropriate response – and not a good way to realise the best value for your website!
If there is a long term dip in your profits, you might consider selling but if you have only experienced short term losses or a weak quarter, stick things out a little while longer to make sure the changes are not just an anomaly.
Two: Before you sell your site, no matter your reasons for doing so, you need to get things in order.
To make your site as attractive as possible to potential buyers, try to make it as profitable as possible. If you have been on shaky ground for a while, try to solidify things before you sell.
A business that demonstrates a clear path to growth, or potential for success, will fetch a higher price than one that has been in steady decline for months or years.
If you are going to sell, you will obviously want to get the best price possible. Optimize your traffic and make it easy for the potential new owners to see themselves turning a profit.
And while it will not be possible in every scenario, in most cases, you will want to ensure that you get a return on your investment. Sometimes you can recoup amounts that are well beyond your investments, other times, you will only see a partial return on those funds.
Either way, it is worth taking a step back and looking at the big picture. Is this the best time to sell? Is the current expected sales price as high as it might be?
Consider things like seasonality.
Some products and services have peak sales seasons and if you can position the sale around one of these seasons, you give the buyer a clear path to a quick return on their investment which will make them a more enthusiastic and motivated buyer.
Anything you can do to improve your site before you try to sell it is worth doing. Yes, this may mean extra effort, but it can also mean extra profit at the time of sale.
Owning a website can be hard work and it is much easier work, at least when it comes to enjoyment and satisfaction, when the website is profitable.
Unfortunately, things can happen in life and business that can impact your profitability. Maybe you have experienced a personal crisis that requires a quick infusion of cash, or maybe the market has shifted and you do not have the marketing skills to compete.
No matter what has prompted the consideration, there are lots of instances where selling your website is more profitable than keeping it.
Whether you are looking for a big payday, to free some time, or to pursue other business ventures, selling your website can improve your bottom line and your life!
Selling Your Website Resources:
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