Thread: Buying an e-business

I'm interested in owning a business on the internet but I have no web design skills and I also have a limited budget ($2k). Would it be effecient for me to find a web site that already profits money and purchase it? Then I can look at all of the financial statements and find out the ROI and if its a good deal. This also reduces risk for me. Does this sound like a good idea? Are there web sites that have ads for web sites for sale?

Thank you

Because you have so little startup capital, I think it's unlikely you'll find a profitable business that would be willing to sell to you (unless you were very creative in terms of financing, that is).

That said, do you have a specific idea you'd like to try? For the most part, designing a website is not very difficult, and if you have any computer experience at all, you could probably figure it out with a little help and a lot of reading. Pick up a good book on websit design and HTML, and play around for a little while. It's really not that tough for most people.

I would also recommend finding a hosting provider for your site that provides the basic components of an online business (for example, one that provides free Wordpress blog installation, a free shopping cart, free bulletin boards, etc). It generally costs a few extra dollars for hosting, but makes it much easier to set up your site.

If none of that made any sense, let me know, and I'll try to recommend some places to start...

That was a great post. Thanks JScott.

I was originally going to create a web site to sell my book and a blog that went along with it that I would have to keep updating. But now I'm reconsidering that and I'm possibly going to make it an ebook instead. This would make it "more passive," and I wouldnt have to keep boxing and shipping out printed books. I could also keep up a blog that would bring in advertising revenue and I could even find bloggers to post for free.

I also really want to try and create a web site that offers a service, so its completely passive. I have alot of involvement in the auto racing and automotive industry, so I may decide to choose an avenue like that. Now I just have to create a service that would fit that criteria.

I've tried learning web design a couple years ago but I failed miserably, but I'd like to try it again. Does anyone recommend any web design books that are good for COMPLETE noobs like me? Thank you.

You don't need books when you have the internet. The internet will get you more up-to-date information anyway.

Google "html reference" and start there. Once you're comfortable with that, google "css reference", that's the next best thing to learn. Then you can start googling stuff like "dhtml reference", "javascript reference", and "php reference".

If you are just starting out I would recommend looking at www.w3schools.com. It teaches the basics really well. After that you will need to find some advanced tutorials on whatever specific tasks you are trying to accomplish.

I recomend you read the ebook "Getting Real" by 37signals, is not about web development really.
Its focus is about how to make it happen. I really enjoyed

http://gettingreal.37signals.com/

Bump for w3schools.com and 37signals. Some useful excerpts in each for beginning to intermediate aspiring webeneurs.

I like the phrase, "underdo your competition." I see this a lot where people assume the phrase "out do" means more flashy, techyish (even a word? lol), etc... Back to some of the highest converting desgins found on the web are often the ugly, the simple, and the boring ones IMO. But you can't fight what works. Well, nothing stops idiocracy.

I would take a page out of the Blogger Unleashed handbook. Buy 300 .99 cent domains, buy hosting @ $8.00/month, and BANS which is another $100.

For $300 you have 100 BANS stores. The rest is all about link building and driving traffic which you can do for free. It won't be quick, easy or passive at all. But it can put some money in your pocket if you work hard.

I'm 150% convinced if you want "easy and passive income", there's about a 98% chance you're going to fail.

Like the kid that paid $10K for the blog One Mans Goal. It a blog that makes no money at all and only has 200 visits per day. He just wasted $10K. He could of got that for free.

Originally Posted by Z5 FILMS

I would take a page out of the Blogger Unleashed handbook. Buy 300 .99 cent domains, buy hosting @ $8.00/month, and BANS which is another $100.

For $300 you have 100 BANS stores. The rest is all about link building and driving traffic which you can do for free. It won't be quick, easy or passive at all. But it can put some money in your pocket if you work hard.

I'm 150% convinced if you want "easy and passive income", there's about a 98% chance you're going to fail.

Like the kid that paid $10K for the blog One Mans Goal. It a blog that makes no money at all and only has 200 visits per day. He just wasted $10K. He could of got that for free.

Hmm. I've never tried BANS. Why not just build your own sales pages? I'm sure they make it a bit easier, I have just never been drawn to selling affiliate products from ebay. It would seem that market is saturated like a mofo.

But, not my specialty, so who am I to say. As it's been said, the riches are in the niches!

Now I wouldn't mind developing a system like "BANS" for other people to use....now that sounds like a good time!