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This week I sold an asset on @microacquire @agazdecki for $20,000.
I& #39;ll tell you the entire story. During the early pandemic, I had some spare time and read a blog post by @searchbound about domain names and their inherent business value.
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I& #39;ll tell you the entire story. During the early pandemic, I had some spare time and read a blog post by @searchbound about domain names and their inherent business value.
I decided on a product niche and used @ahrefs to find the best keyword to target and @searchbound style I bought the exact domain of the keyword.
Set up a quick @wordpressdotcom with @WooCommerce and we were off to the races. No inventory yethttps://abs.twimg.com/emoji/v2/... draggable="false" alt="😬" title="Grimasse schneidendes Gesicht" aria-label="Emoji: Grimasse schneidendes Gesicht">
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
Set up a quick @wordpressdotcom with @WooCommerce and we were off to the races. No inventory yet
Since I didn& #39;t know if it was going to work I decided to get 10 customers before actually finding a supplier, warehouse, fulfillment, etc. I could always say sorry and refund the customers.
The EDM (exact domain match) instantly started sending traffic to the website.
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The EDM (exact domain match) instantly started sending traffic to the website.
I bought another domain that had some backlinks and 301-redirected it to our main website and the traffic increased again.
The first couple of orders, I managed to fulfill (very expensively) by buying the products retail and shipping through @FedEx.
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The first couple of orders, I managed to fulfill (very expensively) by buying the products retail and shipping through @FedEx.
As traffic slowly increased, I found a wholesale supplier and got a 3PL @TheShipMonk by recommendation of @moizali - Thanks! https://abs.twimg.com/emoji/v2/... draggable="false" alt="🙌" title="Erhobene Hände" aria-label="Emoji: Erhobene Hände">
The whole thing was now, more or less, automated.
All sales came organic and there was little to no customer service required.
https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
The whole thing was now, more or less, automated.
All sales came organic and there was little to no customer service required.
However, wholesalers were expensive and the product was expensive to ship, so the margins weren& #39;t great.
My main project starting picking up significantly as the pandemic came under control.
I had tons of ideas on how to improve margins, but no time.
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My main project starting picking up significantly as the pandemic came under control.
I had tons of ideas on how to improve margins, but no time.
So, what do you do? I decided that someone could 10x or 50x the project with some dedicated work. It was better off in other hands.
Enter @microacquire @agazdecki
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Enter @microacquire @agazdecki
I listed the asset on @microacquire at the end of February with the following numbers:
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> $30,360 in ARR
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> $12,320 in TTM revenue
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> $2,494 in TTM profit
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> $2,530 in revenue last month
https://abs.twimg.com/emoji/v2/... draggable="false" alt="✅" title="Fettes weißes Häkchen" aria-label="Emoji: Fettes weißes Häkchen"> $379.50 in profit last month
Asking $20,000.
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Asking $20,000.
Tons of requests to review data and questions, but no one was really serious until the end of March, where two interested buyers emerged. Both offering the asking price.
I did a video call with one of the buyers and explained the above story.
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I did a video call with one of the buyers and explained the above story.
We used @Escrow_com to transfer the funds and after providing the buyer full access the funds were released yesterday.
It was a small win in terms of the monetary value, but it& #39;s wild how easy a sale of an asset has become.
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It was a small win in terms of the monetary value, but it& #39;s wild how easy a sale of an asset has become.
Next up - Software.
I learned how much easier it is with recurring revenue compared to one-off purchases. The problem I discovered was margins.
I& #39;m likely going for recurring with high-margin = Software next.
We shall see - out!
I learned how much easier it is with recurring revenue compared to one-off purchases. The problem I discovered was margins.
I& #39;m likely going for recurring with high-margin = Software next.
We shall see - out!
