- Defining the Niche
- Defining The Technology
- Defining the budget
- Using Search tools and Alerts
- Putting it altogether
The first step in buying a website is to define yourself—to be clear about your skills, desires, expectations, available resources, and other factors we’ll discuss in the coming pages.
Once you’ve clarified these aspects, you’ll be able to narrow the focus of your search for the perfect site. You’ll save time, effort, and money, since you’ll know that the sites you’re considering meet the criteria you’ve defined. In this chapter, we’ll look closely at those criteria, including:
■ your motivations for buying a site
■ the topics that interest and excite you
■ your technical skills
■ your marketing skills
■ the time you have available to spend on the site
■ the amount of money you have to spend
■ the payback timeframe you’re anticipating
■ your exit strategy
The world of buying websites is fast-paced, exciting, and heady. It’s all too easy to get carried away on the spur of the moment and regret your actions later. In this chapter we’ve outlined a series of factors the astute buyer will define before
searching for websites to buy. By working through the points we’ve discussed here, you should end up with:
■ an understanding of your motivations for buying a site, and topics that interest you
■ an understanding of your technical and marketing strengths and weaknesses
■ time and financial investment limits
■ a payback timeframe for the investment
■ a timed plan for exiting your involvement with the site
You can see how each of these considerations plays into all the others. You can also see that this knowledge can help you to set specific, measurable, attainable, realistic, and timely (SMART) goals by which you can gauge the success of your efforts to run and develop the website you buy.
Rarely will any one of these factors be a deal-maker or -breaker. Most commonly, it’s a combination of elements that will propel you to purchase a certain website, or eliminate it from your considerations. But knowing what you want, and why, can smooth the path to finding suitable candidate sites, and reduce not just the time you spend researching sites, but also the risk you take in making a purchase.