Everybody always asks me – How did you wind up becoming a skilled website investor travelling the world and living life on your own terms?
Truth is it wasn’t some shortcut through a random alley way instead of going all they way around the block. As a matter of fact I did go around the block and several blocks at that, and the roads were not always easy to navigate but alas after years of testing, learning failing and picking myself up I eventually through experience became a skilled website investor.
And I know you would love to hear me blabber on more about my story and the struggles I went through to get here. However what I want to do in this post is outline just what I had to do and what you can do yourself to become a skilled website investor too.
Knowledge – In the beginning what is takes is a whole lot of learning, which means reading blogs, articles, books and listening to podcasts. You need to spend a lot of time learning how websites make money and how they all operate. This is something I learnt from my experience as a travel blogger which is what got me started making money from websites in the first place.
However if you don’t know anything about blogging or how websites work, just like myself when I decided that a travel blog would get me out of the rat race (which it actually didn’t). You can jump on Google and learn everything you need to know, because Google is the smartest and wisest professor of all! If you have a question Google has an answer and for every question you ask, is another piece of valuable knowledge you will acquire on your quest to be a successful and fully skilled website investor.
Just remember, there is no shortage of knowledge out there, so find a few great blogs to read on website investing (wink, wink, nudge, nudge!) and start asking Google about how websites work and earn money. Literally most of my education on how websites work is all from Google and I owe much to that search engine because it has changed my life in amazing ways and can do the same for you is you use it as tool.
That is the big difference between dedicated entrepreneurs and investors, we use Google as an educational tool and not just an entertainment source.
Learn & Perform Due Diligence Regularly – Again I never really new before buying an online business that I would have to learn to break down every little thing about a fully functioning website business. Which includes learning different aspects of the business like SEO, it’s finances, to social media accounts and marketing. These are all things I had to learn which you to need to know about to become a successful and skilled website investor.
Not only do you need to learn how to perform due diligence on websites though, but you should also be practicing those skills and performing due diligence quite regularly. I remember when I first started out I would pick a few website per week from Flippa and start to perform a super thorough due diligence check on these sites even if I didn’t intend to buy them. Flippa is great for that as you can get most of the information you need for due diligence right off the website.
By doing this, it helped me greatly where I could start taking notes and creating my own due diligence checklist that I have reviewed over and over and over again so I know what to look for when conducting due diligence. It’s like anything, the more you practice something like this the better you will be able to see what is a great investment and what websites you should not waste your time on.
Practice – I mentioned just now that you need to practice performing due diligence over and over again to get good. However, it’s not just due diligence you need to keep learning and advancing your skills. On top of that you should be learning new and different ways websites can earn money, diverse marketing techniques all the way down to how to create great content for a website you may soon invest in.
Honing in on those skills and learning more as you continue to grow through practicing the better you get. Just like Michael Jordan, he used to be horrible at many sports. Yes, including basketball! But because he practiced more than anybody else did, he became one of the most successful sportsmen to ever live. He is a true testament to why practice is important if you want to be successful in anything.
Hunger – Not everybody is cut out to be a skilled website investor, just like not everybody can be a professional golfer. It takes more than just learning and practicing, it takes hunger. Like I say to anyone, you’re never going to get the results you want unless you want it bad enough.
And to know if you want to be a successfully website investor you need to ask yourself one important question and answer honestly. By asking yourself this question it will help you to understand your “why”. Your “why” is your reason for wanting to be a skilled website investor in the first place.
So ask yourself, why do you want to be successful at investing in websites? Is it to make a ton of money, is it to have more time with your friends and family. Or are you like me, where I wanted to learn a way to travel and make money?
Once you know “why” you want to be a successfully skilled website investor, this is going to help you keep hungry every time you wonder or second guess why you are spending so much time educating yourself and practicing to be a great website investor.
Remembering why you want to be successful will provide you the fuel to keep on the right track.
Hustle – Last but not least on the list of things you need to do to become a successfully skilled website investor, is to hustle. What I mean by hustle is keeping busy, always be on the look out for a new website for sale that has just come to market, continue studying due diligence and performing due diligence.
Even if it is on a website you know you are not going to buy, the more you do this the more problems you will learn about that other websites could have. Problems that you may not of even known existed if you hadn’t practiced so much due diligence on other website whilst learning.
So keep busy, call sellers, ask them questions about their business. Read articles, listen to podcasts. The more you learn the better you will become and the more you practice the easier it will be for you to confidently find great investments which can help you achieve your goals.