The digital revolution has opened up a whole new set of possibilities for earning money. Online business ventures don’t require a huge upfront investment, but they can reap tremendous rewards. Blogs are also great ways to make money, if you can build up an audience and use your influence in the right way.
But there are other ways to earn money online. For example, you can sell your blog. There are people out there looking to invest in successful blogs and businesses, and you can make a good bit of money if you play your cards right.
However, not everyone should sell their blog. But here are some reasons why you should, and some steps you should follow to make the
sale a success.
Why you should consider selling your blog
One of the most important things to remember when considering selling your blog is:
Do not sell your blog just for the money
If the only reason you can think of is that you’d like a little extra cash, think again, because if you are like most bloggers, your site is more than just a job. Giving it up so that you can pad your bank account will lead you to regret losing something you truly loved doing. It will likely be a while before you can get a new project up and running, and you’ll always be left with that “what if” feeling.
However, there are other reasons to sell your blog, and if you can identify with one of these, then this might the right move. For
- Yours is taking up so much of your time you can’t focus on anything else in your life, consider selling it.
- You don’t have the same level of interest or passion in maintaining it, the time to sell has come.
- There are other projects you’d rather be working on but just don’t have the time for, selling your blog can free up your schedule so that you can pay attention to other things.
How to Sell your Blog
So now that the seed has been planted, let’s go over some things that will make the sale of your blog a success.
Know What Your Blog is Worth
For many, the very fact someone is willing to pay you for your site is an exciting prospect on its own. But this doesn’t mean you should
jump on the first offer you receive.
Remember, your blog is more than just a pet project; it is a valuable piece of digital real estate.
The general rule of thumb is that your business is worth 2.5 times its yearly revenue, but there is a whole process to determining the value of your business and selling it.
Familiarize yourself with it, as this number will go up or down depending on a few factors:
- Consistency of these numbers—if you’re trending upwards and expanding, expect to be able to ask for more
- Efficiency—the less work someone has to when taking over your blog, the better.
- Branding—if you can demonstrate yourself as an authority in the field, you may be able to command a higher price.
- Risk mitigation—showing future investors you’ve foreseen risks and have a plan for them will help make your blog worth more.
Get some help
Just like in traditional real estate, trying to navigate the market on your own is a good way to end up getting less for your blog than
what it is worth.
You can sell it on your own—websites such as Flippa make it very easy—but these are not great places to sell. Why? Because the buyers on Flippa and other domain exchanges are looking for a deal. They want to buy something cheap that they can then flip for a big profit. Typically, these buyers want to get something for less than it is worth. You don’t want that.
Instead, consider selling your blog through a business broker. These people or organizations function the same as real estate agents/agencies. They take on your blog and then use their network to help find you a buyer who will pay the right price.
This may make the process take a little longer, and you will need to pay a commission, but it’s worth the wait.
It’s tempting to want to jump at the first big offer, but if you are sitting on something holding real value, resist this temptation. Trust in the valuation and be patient. You spent all this time and energy building the blog, the least you can do is get what it’s worth.
Selling your blog is a great way to close off one project and get started on another. But it isn’t a process to be taken lightly. Take
your time to determine your blog’s worth and then don’t give out until the time is right.
Have you ever considered selling your blog? If so, what questions do you have? If not, what’s holding you back?
About The Author
Jock has always had an interest in working and doing business online. He started as a blogging entrepreneur, then transitioned to digital marketing and is now working to help others find new ways of making money online and building the life they’ve always wanted to live. He is the owner and Founder of DigitalExits.com.