We’ve all heard it: the failure rate of startups. Stories of individuals taking a chance and founding their own online business only for them to fail shortly afterward.
Right or wrong, many people see the web as ground zero for failed businesses. Indeed, Chris Dixon of Andreessen Horowitz went as far to say, "the default state of the startup is failure."
What if you want to make a clean break? What should you do with a website you put time, money and effort into? Here are five signs it might be time to move on from your project, and what you can do about it.
Every day at Flippa, we see examples of people bucking the trend with their website or online business: they live on after they've failed. You see, there’s a remarkable demand out there for websites and businesses with the beginnings of success; this could just be an idea or concept and a basic website. It may be simple, but buyers are looking for it.
A minor change to the product or direction of the business can make the difference between failure or success. And you’d be surprised what a fresh set of eyes and new energy can achieve!
Signs it may be time to sell
Your House is Clean. Speaking from experience here, whenever there’s a task I desperately want to avoid, I’ll magically find myself doing chores I’d normally move heaven and earth to dodge. If you find yourself doing something similar and avoiding pressing work on your website or project, what’s the point of keeping it around?
Unsure if you still love it. A lot of websites and projects are done on your own time: after your day job and and once the kids are in bed. If the enthusiasm has dropped, and you dislike working on the project or even the project itself, it might be time to move on.
Have you put the project on pause? If the project has been on "ice" for a while (months, years) you’ve probably had time to assess your feelings about it. The fact you’re not back working on it says everything.
You’re out of ideas. You may have simply taken the website or project to the end of its life under your ownership. Things are flatlining, and you’re not quite sure how to fix it. As we previously discussed, new owners with a fresh set of eyes may be just what the project needs to give it a new lease on life!
A buyer, not a seller? Use SEMrush to make educated purchases on Flippa. Once you’ve purchased something from Flippa, you can then use SEMrush to take your new acquisition to the next level by analyzing competitors ads, reworking keywords and much more.
First steps as a seller
You’ve made the decision to sell. Awesome! You’ll be getting some extra cash and more free time soon.
Listing on Flippa is a simple process. Once you have an account, you just need to build a listing page. I always recommend new users take a look at some popular active auctions on Flippa to see how they’ve presented their auction. This normally includes writing a snappy listing description, uploading all the revenue and traffic information you might have, and completing ownership verification. Once that’s done, you select the duration of your auction and it’s ready to go live in front of tens of thousands of buyers!
Parting ways with a website or online project is a difficult thing to do. But it doesn’t mean the curtain has to be drawn.
Selling it via an auction, rather than a private sale, maximizes the potential value of your website or project. Flippa gives you this and an established marketplace system and an industry leading product. In the last couple of weeks, we’ve seen Elevated.com sell for $20,000, host24.com sell for $3,200 and FindPoker.com.au sell for $40,350. What are you waiting for?
Tim Cooke is the digital marketer and content manager at Flippa. Tim has studied politics, journalism, Australian history and Indonesian at Monash University. Prior to working at Flippa, Tim interned at the Australian Broadcasting Corporation, Channel Nine Perth and Sky News Australia. You can follow Tim on Twitter.