Do you know you can earn a 5-figure amount by selling your blog? Yes, it's true. People have done it before, and they are doing it now as well. You will find many avenues to make money online, but if blogging is your forte, then don't just limit yourself to writing blogs. Go all the way to sell your blogs and make thousands on every deal. Considering you have a large fan base who read your blogs regularly, how will you get into the process of selling your blog? Here's everything that you need to know.
1. Act as if you are a media company
While selling your blog, always keep in mind that you are a businessman. You are not selling your blog to a friend that you can give it away at a low price. Investors show interest in media companies, not personal blogs. And so, you should act or call yourself as a media company. Apart from writing articles on your blog alone, you should also hire professional writers to contribute to the articles that you post on your blog. This helps to build strategic partnerships.
2. Find a partner before a buyer
The best way to monetize your blog is to find a partner first. Strategic partners can help earn millions that lemon-model websites can't. Yes, selling your blog on one of the websites is indeed more comfortable, but you wouldn't get as much money as a buyer would offer. Instead of relying on these directories, try to find a partner who can extract a premium amount for your blog.
3. Take time in negotiating
Don't just blurt out any price that comes to your mind. Your blog may be more valuable than you think. Make sure you are the first one to name the price. It keeps you in an authoritative position to dictate the deal. Try to follow the price anchoring rule. It means you need to stick to your price instead of giving the buyer an upper hand on bargaining.
Moreover, always set a higher price than what you are willing to sell for. For example, if you are ready to sell your blog for $100,000, set an asking price of $150,000. This gives you enough room to bargain with the buyer. If you start at $100,000, the price will go down, and you may not get the value that you expect.
4. Keep papers ready
It would help if you were as professional as possible when it comes to selling your blog. Even if it's the first time, you should keep all the paperwork ready. Most buyers audit the financials before writing the cheque. Some buyers also go to the extent of letting their lawyers handle everything. This usually extends the selling process. Make sure you set up an asset purchase agreement. If you don't already have one, hire a lawyer to do it.
Once both parties are satisfied with the documentation and the price, you can sign the final agreement and hand over your blog to the buyer.