Always keep your eyes open (how I sold my social network)
Hello Warriors!
I've been checking out Warrior Forum on and off for a few years. I have no idea why I took so long to join, as I've been a member for years at the other webmaster, IM, domain forums.
So while I'm a new member here, I'm not new (but always learning!) to this world. I have tons of great tips and stories to share, as well as upcoming products and programs you might be interested in.
Let's start with my first words of advice!
Less than 2 years ago I came across, what I thought to be, a great deal for a complete social network. It was completely custom, had tons of registered users, a great domain, and was once a hopping website. The negatives? The site was no longer as hopping as it once was and the category the network covered was very niche. The owner simply just didn't have the time, so it was basically a firesale.
After a little bit of talking, we made a deal and spent a bit setting things up together. From there, I worked on fixing the site up a bit. Nothing major, just some maintenance, bringing back members by letting them know changes were coming, etc.
However, I had no intention of keeping the site when I bought it. I intended to find a buyer. After posting on various buy/sell website forums, I received a number of very interested parties. The most serious party (and ultimately the one who ended up buying the site)? An employee of a well known company who found the one post I put...on Craigslist.
Patience is the most important key to selling a large website or dealing with a bigger company. After a month of negotiations, another 2-3 months of no interaction, and than another month of more serious negotiations, a deal was signed and made official. The website was sold.
Morale of the story? Always keep your eyes peeled. If you're buying, you never know what deal you'll come across. If you're selling, don't ever count out a way to make the sale.
-Matt
I've been checking out Warrior Forum on and off for a few years. I have no idea why I took so long to join, as I've been a member for years at the other webmaster, IM, domain forums.
So while I'm a new member here, I'm not new (but always learning!) to this world. I have tons of great tips and stories to share, as well as upcoming products and programs you might be interested in.
Let's start with my first words of advice!
Less than 2 years ago I came across, what I thought to be, a great deal for a complete social network. It was completely custom, had tons of registered users, a great domain, and was once a hopping website. The negatives? The site was no longer as hopping as it once was and the category the network covered was very niche. The owner simply just didn't have the time, so it was basically a firesale.
After a little bit of talking, we made a deal and spent a bit setting things up together. From there, I worked on fixing the site up a bit. Nothing major, just some maintenance, bringing back members by letting them know changes were coming, etc.
However, I had no intention of keeping the site when I bought it. I intended to find a buyer. After posting on various buy/sell website forums, I received a number of very interested parties. The most serious party (and ultimately the one who ended up buying the site)? An employee of a well known company who found the one post I put...on Craigslist.
Patience is the most important key to selling a large website or dealing with a bigger company. After a month of negotiations, another 2-3 months of no interaction, and than another month of more serious negotiations, a deal was signed and made official. The website was sold.
Morale of the story? Always keep your eyes peeled. If you're buying, you never know what deal you'll come across. If you're selling, don't ever count out a way to make the sale.
-Matt
Ask...Because you never stop learning.