Can I get some advice
10 comments
I'm in the middle of purchasing a site from someone in your exact same position. He felt that the site could make double what it's currently making with some TLC. So we agreed to a profit-sharing agreement where he gets a cut of the money I make off the site. I get a lower risk for loss if the site under-performs, and he has the potential to make a lot more money. It's something worth considering.
Personally, I'd say that #3 gives you the best option to open up a new lifestyle for yourself. $3k profit is nice, but $30k would allow you to travel the globe while still being able to work on the website when you needed to - you and your partner both, likely. Work from the south of Spain or France, then head over to Hong Kong for a visit. Just take your laptop.
The other options leave you static in lifestyle - or at best, without personal growth.
Of course, #3 is likely the most risky as well, because you'd need to find an honest and reliable partner that complements what you put into the business well.
I've done (and still do) PM work, so I know what you mean by needing such skills to direct one's vision.
Best of luck - take advantage of your website creation! Use it to build up an envious lifestyle! ;)
The other options leave you static in lifestyle - or at best, without personal growth.
Of course, #3 is likely the most risky as well, because you'd need to find an honest and reliable partner that complements what you put into the business well.
I've done (and still do) PM work, so I know what you mean by needing such skills to direct one's vision.
Best of luck - take advantage of your website creation! Use it to build up an envious lifestyle! ;)
1. If you can make a compelling case that there is more revenue with a little more work, then you should be able to get a higher valuation.
Even a shack is worth a million bucks if it's in down town Manhattan. It doesn't matter what YOU are doing with it, it matters what you both know they can do with it.
Even a shack is worth a million bucks if it's in down town Manhattan. It doesn't matter what YOU are doing with it, it matters what you both know they can do with it.
It's as simple as that: Hire People; since the website makes a lot of money, you can hire coders and designers and they'll do the work. Contact me, (find email in profile) I can be helpful.
BTW: If you wrote down the URL of the website, you would get more help
BTW: If you wrote down the URL of the website, you would get more help
Royalties is the word you are looking for.
Sell the site for a nominal cost. Take a percentage cut of all sales/profits whatever as per negotiation.
Low risk for buyer, you get to be lazy and reap the rewards of your site's full potential.
Sell the site for a nominal cost. Take a percentage cut of all sales/profits whatever as per negotiation.
Low risk for buyer, you get to be lazy and reap the rewards of your site's full potential.
I'd go with 3. It's always better to increase the value of the site, and I mean....if you need any help, I'm sure you'll find someone from the Hacker News community.
...if anything, I'd be glad to help you out! :)
...if anything, I'd be glad to help you out! :)
"my tech people to get the ads implemented." - Ad Server, like openads or even a service like buysellads would probably save you a ton of time & hassle.
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care to post the url to the site? i think it would be easier to find a partner that could take care of the technical side if they were also interested in the content of the site.
I cannot devote myself to the site wholeheartedly until the revenue allows me to quit my job.
$3,000/month isn't enough to quit your job?
How long would it take to get it to an income where you could quit your job?
$3,000/month isn't enough to quit your job?
How long would it take to get it to an income where you could quit your job?
I have a list of 50+ things that need to be done with the site, changes, additions, writing etc... and I just can't seem to focus on getting them done.
I have people contact me to advertise all the time and I just tell them we are not accepting new advertisers right now, because I am too lazy to deal with yet another contact, and going back and forth with my tech people to get the ads implemented.
I have absolutely no technical skills and I outsource all of the work on the tech side overseas. The trouble is that I hate being a project manager and walking people through my vision.Also, good help is hard to find.
I also have a well-paying full time job and a growing family and I cannot devote myself to the site wholeheartedly until the revenue allows me to quit my job.
Some of my options as I currently see them are:
1. Sell the site. I have been approached several times by very good and well known acquirers about selling to them. I said no because I know there is so much revenue to be unlocked with a little bit of work that I just can't let it go at a much lower valuation.
2. I could just continue along as I have been, making minor improvements very slowly and just leave some money on the table.
3. I could look for a partner to help actualize my vision and unlock the potential.
Any thoughts or suggestions are greatly appreciated.