8 Tips for selling your online business on Flippa

Flippa recently published my interview and in the article I included some tips for Flippa sellers. Here they are with some extra additions and clarifications for the Steemit sommunity. Hopefully you'll find this helpful if you plan to sell your web business on Flippa, or considering to try your hand at flipping websites for profit. This is based on my 38 completed deals on Flippa with total value of $282,810.

1. Start preparing upfront, at least 3 full months ahead before you plan to sell. Make sure to setup google analytics and other tracking software. Set up unique channels and tracking ids for your website in the affiliate and advertiser accounts. Get your finances in order and optimize profit, reduce unnecessary expenses, so you can show comprehensive data to potential buyers.

2. If you know some website buyers, or your competitors who might be interested in purchasing your business, it’s always worthwhile to contact them first to check if you might be able to sell directly, or just see what they can offer. If your website is big enough, with substantial profits, you can also consider contacting online business brokers

3. Always use a reputable escrow service, like Flippa escrow, Escrow.com, or another reputable third party, unless you’ve done business before, or trust the buyer. Beware of the common paypal scams - where a buyer would pay with paypal and after receiving the website fill out a chargeback.

4. If you decided to try your luck with Flippa prepare a very detailed listing. Be sure to explain the business operation, finances, include all the screenshots, try to have visual proofs for all your numbers. Use Flippa tools to verify GA and Adsense, and make a video for showing your revenues. For a higher revenue website utilize Flippa’s managed listing services or account managers.

5. If your website makes substantial revenue buy Flippa upgrades for more visibility. The more people see your auction, the more bids you will have, the higher price you will usually get.

6. Promptly answer all comments and questions, and update your listing with new screenshots. Buyers will quickly notice if you're not being upfront or trying to hide important information and immediately lose interest.

7. If a bidder has no activity on Flippa yet and no feedbacks, no connected social profiles, you can contact them to ask for some extra information, to make sure they are a serious buyer. Sometimes new buyers change their mind, or simply do not have the funds available, so it’s best to check before approving a potentially winning bid.

8. Provide good after sale support, keep up with the buyer to help grow the website further. He will appreciate it and be happy to buy more websites from you next time.