How to Become a Media Mogul by Buying (and Selling) Content Websites

STEPS TO BECOMING A CONTENT WEBSITE MOGUL

Let’s face it; the world has changed a whole lot in the past 100 years. It used to be that starting a media empire required really deep pockets (or in lots of cases, parents with deep pockets). Nowadays, buying and selling existing content websites is a strategy used by more and more media entrepreneurs. While sites like Flippa and Empire Flippers make it easier than ever for a would be e-entrepreneur to get started, building and monetizing a fledgling audience into a prosperous empire will still require good business sense. But with the right know-how, buying a site with existing presence can be a great way to launch your own media empire.

A significant advantage of buying a site is skipping past the initial efforts of designing, establishing domains, establishing an initial audience, and indexing within search engines. Additionally, if you do your homework, you should be able to identify sites with existing revenue streams and good potential for growth. For new or young entrepreneurs, another appealing aspect will likely be the fact that this method requires less start up dough. You may be able to snag a high potential content site for something like a few hundred to a few thousand bucks.

By following these 3 simple tips, you could put yourself on the fast track to becoming a future digital media mogul.

1. 
   

   BUY A SITE WITH HIGH ADVERTISING REVENUE POTENTIAL

   
   
   

The website you buy will be the “anchor” of your media empire. If you’re lucky, you may find that a blog, e-newsletter, podcast, webinar, or videos might be included with the site. Nowadays, any good media site is likely to also come with existing presence on social media platforms such as Facebook, Twitter, LinkedIn, Google+, Instagram, Pinterest, Vine, and YouTube etc.

If you are able to acquire a site with these in place, you’ll be able to focus your efforts on increasing the amount of traffic and improving the performance of advertisements on the site. This can be done by developing the existing brand in three key ways: 1. Making it more authoritative (being seen as an expert source); 2. Making it more visible (dominating SEO through content volume and quality); and 3. Making it more engaging (building an engaged community around the brand. Consistent, incremental improvements in these three areas will go a long way in growing your traffic and your empire.

2. 
   

   FOCUS ON INCREASING THE QUALITY AND QUANTITY OF CONTENT

   
   
   

If, for instance, you have acquired a site with a readership of 10,000 per month and want to grow it to say 1 million per month, remember one tried-and-true principle – content is king! Most established media moguls will tell you the secret is to emphasize quality as well as quantity. Bottom-line, you’ll need to figure out a manageable way to create an insane amount of quality content. Here, you’ll have a few options.

One method would be for you to try to produce it yourself. This will require you to have strong knowledge and passion for the particular subject area. Another option is for you to pay content writers whom you’ll definitely be able to find for very cheap rates online. Both sides have drawbacks. If you try to produce the content yourself, it may be good at first but not really sustainable in terms of quality or quantity over the long term. (Plus, as an nascent mogul, your time is very valuable and likely better spent focusing on managing your growing empire.) So, realistically, your job will be to find the best content writers you can for the money. Just keep in mind that the entrepreneurs who can generate the most relevant, unique and creative content that their readers can get actual value out of will be the most successful!

3. 
   

   LOOK FOR YOUR NEXT VENTURE

   
   
   

Once you have a prosperous and pretty well-established website generating consistent advertising revenue, it’s time for you to consider the next step in building your empire. One approach would be to use some of the money you’re making from the initial venture to re-invest in purchasing a second content site. This would be a Warren Buffet or Rupert Murdoch like “buy-and-hold” strategy. This way, if you could successfully repeat the process of building the sites into authoritative, visible, and engaging brands; over time you would end up owning multiple high-value assets. Alternatively, since now your first “anchor” site will likely be worth significantly more than you paid for it, you could sell it and flip the profits into a second venture at an even larger scale. Instead of buying a site for a few hundred dollars, you may now be in a position to invest much more in a more well-established content site with a high volume of existing traffic. This could be called a “rinse-and-repeat” strategy.

Really want to know what it takes to become a leading internet age media mogul?

Well, my friend, the best tip is to just get started!