Sounds pretty obvious I know, but in my experience it’s not!
Websites have the capacity to be profit centres in their own right.
I repeat that.
Websites have the capacity to be profit centres in their own right.
So when I’m approached about selling an “online business”, I will always ask about:
- the traffic
- the database
- the profit
Usually the answers come thick and fast about the first two and only muffled silence on the 3rd.
If your website is not making money in its own right, is it really an online business?
What invariably happens is that the online part is the front end, the marketing channel but it still has a manual backend.
Which means the Business Owner may have mastered the art of generating traffic and building a database but the fulfilment component and the collection of dollars are done in the more traditional ways.
So it’s not really an online business at all.
What Business are you building?
