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A Unique Deal Teaches Me the Benefits of Humility in Business & The Financially Sweet Taste of Humble Pie

I had an experience over the last couple weeks that I hope by me sharing others will be able to learn from.

With my focus on selling my FBA business other unique sales opportunities have presented themselves.

Let me tell you a story about what happened with one (eventual six figure deal)…

An opportunity came up to sell one of my affiliate sites strategically with the idea that they(startup company) would improve the site and based on the strategic nature of the purchase would be able to increase the value of their business significantly.

After some initial discussions it was clear the amount of cash available in the business was too low to be able to acquire the site at market value (let alone the premium that usually goes with strategic acquisitions).

Deal Dead?​

It would have been had I not been recently working with some clever private equity types who had been looking to creatively structure FBA acquisitions.

So what deal can we strike when the business will be worth more in the hands of the acquiring company but the acquiring company doesn’t have funds to purchase the site?

Our clever solution was…A domain/website lease agreement which included a modest % of any increased earnings paid to me with the purchase of an option to buy the site in 1 year for a premium price, along with an agreement on minimum standards for the site and a few rules about what they couldn’t do to the site. The domain and website stay in my control until the option to purchase is exercised.

Benefits to Me:

  • Premium purchase price for an affiliate site (30x)
  • If option isn’t exercised I will still own an improved website
  • Upside % during lease agreement

Benefits to Purchaser

  • Use their knowledge and connections to greatly improve monetization of site
  • Able to show revenue growth with minimal capital outlay (increase value of their business greatly & raise funds at a greater valuation)
  • Able to grow total size of business (increase value of their business greatly)

How Not Being Humble Almost Cost Me Six Figures!

I GREATLY overestimated my skills! With this site I spent minimal time on it but thought it had been reasonably well set up from a monetization standpoint.

The one way the deal wouldn’t make sense to do is if they were unable to improve its earnings then I would get none of the upside and it would take away their incentive to exercise the option to purchase the site.

I contemplated not doing this deal because I doubted if the improvements would make a meaningful difference – I WAS WRONG!

How Did They Improve The Site?

  • Better looking layout
  • More focused on the primary offer
  • Pop-Up to take visitors to the primary offer
  • Improved usefulness of the content

Bottom line – nothing crazy was done and I had to eat some humble pie that even with some pretty straightforward changes they were able to make substantial improvements to the click through rate and eventual earnings of the site!

Why Share This Story?

I think it was a unique deal and the more times people can read about unique solutions to problems the more likely they will be to recognize when a unique solution may exist.

Plus, I like to share all my failures and wins…although this is certainly a win it is very clear I had failed at monetizing this site to the best of its ability!

What Did I Learn from This Deal:

  • Creative deal structuring can make deals happen when simple deals aren’t possible
  • Strategic sales make the pie bigger!
  • Being humble and knowing that no matter what you think you know everyone has something they can do better than you and learn from them.
  • There are areas in my business if I spent more time would result in substantial earning improvements!
  • I need to improve my monetization skill set

Hopefully me sharing this deal will help you consider different solutions on problems in the future.

3 Step Authority Website Traffic Growth Plan – SIMPLE

Not everything about growing website traffic and building a profitable authority site needs to be complicated! (even though I often do a good job of making things complicated – see my attack plan document).

If you are looking to grow traffic to a website and you execute this simple 3 step process without wavering from it for a few months I would guarantee you will increase your search traffic 99% of the time! Continue reading

One Year Six Figure Challenge Update – Systems Saved My Ass

This post will include an update on my website for my six figure challenge I launched last year, the process I used to build up the site and my

  1. The Six Figure Challenge History
  2. Results
    1. Traffic
    2. Income
  3. My Activities
    1. Month by Month (posts, guest posts, PBN, 301 Building Blocks,
  4. How You Can Follow The Same Formula

Although I certainly failed on turning this site into a six figure business I did manage to “achieve” the goal of building a six figure business after starting in September!

 

Six Figure Challenge History

Reason Why:

This website was founded as a case study for me building up an authority site in the student loan space which has continued to make thousands of dollars a month since 2012. Building and sharing the journey is a lot of fun and the reason AuthorityWebsiteIncome.com exists. For that reason I made the goal of building a six figure value website within the year in 2015…meaning if it was making $5k/month it would be worth $100k.

The Idea:

My plan was going to be a little unique and that was to have a group of people with the same goal work through the process with me.

The Team:

Having over 80 applicants in under 48hrs was impressive! But even more impressive was the quality of the applicants! Many with exceptional experience and success to date.

The team I selected had a great mix!

It was a lot of fun working with this group of impressive individuals, many of whom went on to have huge successes in 2015!

Our Process:

We met a couple times a week on Google+ hangout at the start and then weekly after that. We went through my Authority Site Attack plan document (sign up in the opt in box on the side to access it).

Meetings Died Off:

100% my fault but after a few months I got into a very busy period at my day job and both the additional work I was putting into the site and our weekly meeting started to die off. Many of the people continued to meet and help each other through the process.

For me I really enjoyed the mastermind format as a group working together to build something. I was certainly not comfortable anytime I was to be the “authority” and “teach” something. But in general the group made the experience fun and held everyone accountable to progress.

VERY BIG THANK YOU TO EVERYONE IN THE GROUP!!

 

Six Figure Challenge – Results

The nice thing about this project was that although it did not achieve the goals I was after with it, it certainly achieved success!

Traffic Results:

As you can see from the curve below the site was on a very steady climb week over week for much of the sites existence with the highest traffic week being just last week!

6figre-traffic-weekly

Income Results:

Definitely an area for improvement both in terms of actual results and my effort in this area to improve the monetization!

  • Jan – (-$855) net income
  • Feb – (-$964) net income
  • Mar – (-$130) net income
  • April – $107 net income
  • May – $158 net income
  • June – $162 net income
  • July – $142 net income
  • Aug – $258 net income
  • Sep – $453 net income
  • Oct – $521 net income
  • Nov – $554 net income
  • Dec – $612 net income

Growth & Other Stats

  • The first six months the growth average over 100% each month
  • The second six months the growth of the site averaged over 20% each month
  • Value of the site now should be in the $10k ballpark with lots of opportunity to improve conversions (I really need to get on!)
  • Net Income over the year positive by only $1,050
  • Growth trajectory stable and promising

Six Figure Challenge – How Did I Build & Promote The Site

So what was the strategy I used to start building out my site? Well you can signup to see the exact attack plan I have used for this and other sites in the sidebar opt-in, however I quickly adjusted my plans when I had to re-prioritize my hours in March.

To show you exactly what I did and when I did it to build up this moderately successful authority site have a look below.

I believe you will be surprised at how few items I focused on and how few hrs I worked on this project…

6figure-sequence 6figure-stats

Notes about stats & the sites activity:

  • Positive growth in every month except Dec (with the last two weeks being holidays!)
  • Expenses were a little lower for me since I already had a moderately relevant PBN to generate some of the links from
  • 301 building block strategy was used extensively at the start to get the site moving well!
    • 301 Building Block details here & here
  • Revenue has not grown at the same rate as the traffic to the site (more work needed)
  • Lots and lots of quality posts were created!
  • Consistency with the strategy of keyword research, content creation and quality link creation was key to sustaining momentum
  • Invested only 96hrs in the project (working on the site) more with the weekly meetings at the start
  • My hours dropped off to 0 at times
  • Assuming the business is worth 20x at $500/month my hrly rate of return was $114.47/hr (20x $500 + sum of net income to date)

 

#1 Most Important Take Away – Have a plan and consistently execute the plan!

Although the results are not what I wanted they do show the value of a system.  Often we struggle with too many unfinished projects when a competing priority takes over some of our time. This project had all the makings of a project that could follow that path…in Jan/Feb I put in good effort and then in March when my time got a little too stretched I dropped this project like a bag of bricks!

If it had not been for my system of ongoing content creation and automatic link generation my site would have died a slow all to common death!

Although my systems are what kept the site moving the key reason I believe I didn’t achieve larger success and meet my goal was my inability to get the right people in place to execute the higher level outreach work! White hat links are great however they take a higher level skill set that involves more hands on involvement usually from myself…so far I have been unable to systematize higher level outreach/link building beyond simple blog commenting and guest posting.

If anyone has figured out a way to perform high level outreach as part of building an authority site that doesn’t involve their own input please share in the comments!!

 

How Can You Follow The Same Formula?

Even if you want to have a much greater success you can still use the same strategy easily using the six figure attack plan spreadsheet I share by signing up to the email form below…

Best Black Friday and Cyber Monday Hosting Deals 2015

​UPDATE - Promotion extended for both Black Friday through to Cyber Monday with unlimited Domains available!!!

Every Black Friday I have my team scour the internet for the best Black Friday Hosting deals so we can add more popular hosts to our PBN hosting network. 

​This year is no different with several great hosts offering unbeatable pricing today!

BLACK FRIDAY AND CYBER MONDAY HOSTING EXCLUSIVE BONUSES!!


If you signup for a hosting deal using one of the discount links below I will offer you a special promotion

Limit of 5/Person!​

Only Applies to NEW Accounts (you can't already have an account at this host)​

  • Premium Domain ($75 value) (Unlimited)
  • Use My PBN - LightningRank Link ($64 Value) (10 More Available)
  • PBN Site ($109 value) (10 Available) (All Gone!)

To take advantage of this bonus...

  1. Sign up at a hosting account using a link below
  2. Send jonhaver11 (at) gmail (dot) com your order confirmation & which bonus you want
  3. I will send ​you your bonus!
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#1 - SiteGround - 70% off - starts from $2.95/MO.

SiteGround is one of the best web hosting services we use. It is very secure and fast. with 70% off I rank it no.1

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Excellent web hosting plans with 80% discount!

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      Another very inexpensive hosting option. Huge discount for BlackFriday! 

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          We have used IPage for years. Not always the fastest but has been a reliable host for us.

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              We had tried Eleven2 last two years and they have the BEST customer service out of all hosts we use!!

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                DreamHost is a solid host for

                Dreamhost has been a solid host for us. I have used it for 4 years with no problems of any sort.

                • Host Unlimited Domains
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                • SPECIAL PRICE: $4.95/mo.

                BLACK FRIDAY AND CYBER MONDAY HOSTING EXCLUSIVE BONUSES!!


                If you signup for a hosting deal using one of the discount links below I will offer you a special promotion

                Limit of 5/Person!​

                Only Applies to NEW Accounts (you can't already have an account at this host)​

                • Premium Domain ($75 value) (Unlimited)
                • Use My PBN - LightningRank Link ($64 Value) (10 More Available)
                • PBN Site ($109 value) (10 Available) (All Gone!)

                To take advantage of this bonus...

                1. Sign up at a hosting account using a link below
                2. Send jonhaver11 (at) gmail (dot) com your order confirmation & which bonus you want
                3. I will send ​you your bonus!
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                2 Improvements to Increase Your Websites Performance and Income with One Hour of Effort!

                As always I have been busy doing multiple things over the last few weeks. One activity that has kept me hoping lately is purchasing websites.

                When I take ownership of these sites I don’t like to make too many changes right away I just change out the affiliate links/adsense, add some more content and setup analytics.

                Lately I have added two additional steps to instantly improve the sites performance.

                Whether you have purchased a site or have a neglected site here are a couple great activities you can execute to improve your site in 1hr!Continue reading

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