I really do wish that when I first started to learn all about buying websites for passive income that there were more available sources on website investing for beginners.
Because without knowing much about how websites work or earn money, website investing for beginners is tough. There is so much to learn even just in theory before we go out and start putting it all into practice.
Along my journey from a total rookie up to where I am at now, teaching people how they can wisely invest in websites. I have 5 top tips on website investing for beginners. Tips that we can continually practice to become a far better website investor even after years of experience.
To be honest, these top 5 tips are all things that I am practicing and putting into action for myself still to this day and I will to continue to do so. The reason I do this is because I know that the more I practice, the more I learn and the more I learn the better I become as an investor in this field.
So never think you are too advanced or skilled, these tips can be applied to website investing for beginners all the way up to someone who has been investing in websites for years. I tell you this because believing you know enough is when you close your doors to becoming better at whatever it is you wish to be good at. In this case buying websites for passive income and earning more money.
For now though, let me cover these tips and if you have anything to add that you have picked up along your own journey through investing in websites, please be sure to add your knowledge by commenting below.
1. Educate Yourself
I love to use this quote from one of the richest men in the world, Warren Buffet because it is something we should all remember if we want to make more money. Which is “The more you learn, the more you earn”.
Which means if you are wanting to earn more money or an additional income through investing in websites or any other means. Continuing to learn more is the only way you are going to achieve this and by practicing these tips on website investing for beginners even if you have been investing for a while now is going to allow you to keep learning.
There are also so many other resources available now for learning about investing in websites, from reading other great blogs like this one. Reading books, listening to podcasts and looking at an array of website properties for sale and dissecting how they work, how they earn money, what tasks need to be done to run it and a whole massive list of things you can pick up on just from reading a websites prospectus.
2. Learn The Different Types Of Websites
Again as a rookie I knew that there were different ways websites could earn money, although I didn’t know what they were or how they worked. For example what is a drop shipping website? how does it even work and earn money?
As a true beginner to investing in websites, these were all things I had to learn. So my advice is to start learning about all the different types of websites, form how they work and earn money. By understanding these you will eventually be able to spot a good website investment and from a bad investment.
3. Stick To What You Know
Back when I was in your shoes learning website investing for beginners. I already had a little bit of knowledge on how drop ship websites worked because I tried to build a website business myself using this method although I failed miserably, which was a great lesson. I also knew a little about how blogs worked and because I knew just a few things about these types of websites, what I did was stick to what I already had some knowledge in.
Which meant looking for drop ship websites to buy that I could also blog on to gain more free traffic. And because I knew a little about these types of websites it made it a little easier for me to learn more about how the other websites worked too.
For those of you who are total beginners and don’t know anything about how a website works that is totally fine too. As a beginner what you want to do as you start to learn some of the different types of websites, is to first start off by sticking to the type of website you understand best.
What I mean by this is, if you understand how a membership website works and makes money better than any of the other types of websites. Maybe it is best for you to first invest in a website like this as you continue to learn more about the others.
4. Practice Due Diligence Over & Over
This tip on website investing for beginners is something that you should quickly become very familiar with. You want to get good at due diligence because out of all these tips on website investing for beginners all the way up to experienced investors is something you should be and will be spending most of your time on.
I urge people to learn as much as they can and to continue learning about website due diligence. The more knowledge you have and practice in due diligence the better you will get at picking up what good and bad traits websites have and whether or not they are a worthy investment for you.
As a total newbie to website investing, what I would do is to perform due diligence on websites I knew I wasn’t even going to buy. Just so I could get better and better at it. I knew that the more practiced due diligence, the better I would be for when I was actually going to put my own money down to invest and would know for sure if what I was investing in would be a good investment or not.
So please practice due diligence more than any of these tips on website investing for beginners, it is something you will not regret when you find the right website business to buy.
5. Talk To Sellers
Lastly I found it very nerve racking getting on the phone and talking to sellers when I first started learning. But what I realised was the more that I got on the phone with sellers and talked to them, the more confident I got in talking to sellers and other people about investing in websites.
I too have learnt so much from sellers because they are expecting you to ask questions. By being on the phone you really open yourself up to learning so much about many different types of websites from people who want to sell their websites.
I highly suggests getting confident on the phone with sellers, obviously don’t waist their time by continuing to ask questions if you are not buying their website. Though the more people you do talk to about websites, buying them and investing in them the more you are going to learn which helps really you to become a better website investor.
Now I hope these 5 top tips on investing in websites for beginners helps you on your website investing journey and please be sure to add some of the lessons you have learnt from website investing in the comment box below.