Be Prepared to Sell Your Business!
Laura's article as an intermediate-to-advanced article for Site Flippers. The focus of her articles is sharing advice on good business management practices that increase the likelihood of a sale, and the value a web site will sell for.
Laura starts by mentioning advanced stats tracking.
Treat Your Records – Traffic and Otherwise – Like GOLD. What is it, exactly, that you own? Your online real estate is totally virtual. It could go -poof- into thin air in the blink of an eye. So, too, could your traffic stats, financial records, and other virtual data. Do you back up your website? You should be backing up everything, all the time.
In that same vein, make SURE you have a long trail of traffic stats. [..]
Next, she shares sound advice on managing your accounting:
Does Your Bookkeeping Hold Up? How many forum owners treat their forum like a business? Whether that means hiring a virtual assistant to do your books, or simply using a program like QuickBooks to do it yourself – it needs to be done.
I won't quote anymore, because it would just be spammy. But all in all, Laura makes the great point that you're managing more than just a site. Your traffic, accounting, deals with other site owners etc. are part of managing your business. Therefore, be ready and prepared to sell you web site business by following proper management technique!
Related articles are archived in the topical categories website appraisals, buying a site, flipping a website/home improvement, selling a site, negotiating, flipping tips, site flipping case studies, newsletter, Site Flip News, website markets, domains and domain names.