Where the BIG Money is Made Online

Source link.

I cant stress the value of what Im about to inform you enough. If you look at business owners who have made fortunes– I mean SERIOUS wealth– in practically every case the cash came not from inside the business, however from SELLING the service.

Youve heard numerous newspaper article of web companies selling just 1-3 years after their preliminary start-up. And the services you find out about sell for 7, 8 and even 9 figures.
If this sounds out of reach today, picture this circumstance: You start a company today, and in 6 months to 2 years you sell it for 6 figures. Would that make a great payday for you?
Now you may be believing that offering your service is something you dont need to stress about up until long after you start it. Not so.
You ought to also be considering your exit method if you are starting an organization right now. After all, you might get bored with what youre doing and desire out. Or possibly you require fast money. Or you choose to go in an entirely various direction. So you decide to sell your company.
You must be able to sell rather quickly and for a very good price if youve laid the foundation.
Heres what you need to understand:
Think of it as offering a BUSINESS. Thats due to the fact that purchasers do not desire a site.
What they do desire is a ready to go, money-generating cash-cow organization, so make your plans appropriately.
— Make your service transferable from Day 1. Every item must be its own entity– after all, a single item can in fact be an entire business.
Give it a site of its own, its own list, its own customer base, its own affiliate program and affiliate list, etc– Dont brand name it solely with your name. Its fine to connect your name to your XYZ product, however dont call it “yournameproduct.”.
Simply put, “Bob Smiths Traffic Gorilla Mania Course” is fine. “Bob Smiths traffic course” is not. In the first case, the item is Traffic Gorilla Mania, a name that anybody can offer. In the 2nd case, the item is Bob Smiths Traffic, a product forever branded as coming from Bob Smith.
Imagine youre Bob Smith, and you sell your traffic course organization to another person. That individual then offers the course. Who do individuals ask for aid? You. After all, your name is on the course.
Lets state the purchaser modifies the course and now it stinks. Who will individuals blame? You. Now you see why your name needs to be entirely separate from the product name.
Yes, its a bit unusual to consider your exit method when youre just beginning a company. However when it comes time to sell, youll be glad you did.
Another thing– what if you have a partner?
Write into your contract what will happen if you offer. Simply take a look at the possibilities and settle on how it will play out if among you desires to sell to the other, or if you both wish to sell to a 3rd party.
You can make a good amount of cash by making each of your services as stand-alone as possible, and then offering them when the time is right. In fact, selling your business can potentially earn you more than you made running the service.
Plan ahead, and make sure you are developing your business-selling exit strategy straight into your business itself!

You choose to offer your company.
Think of it as selling a BUSINESS. In the very first case, the product is Traffic Gorilla Mania, a name that anyone can offer. Imagine youre Bob Smith, and you offer your traffic course business to someone else. That person then offers the course.

Recent Posts