Before I start with this post, I must admit one thing: I really like blogging! Since I’ve always wanted to write a book and make a living from my writing, blogging has been a great opportunity to test my writing skills and creative stamina ;-).
So why am I selling? I actually need money to fund other projects within my online company. I didn’t expect to sell this year, in fact it wasn’t in my plan at all. I really like my blog and I didn’t want to sell it. However, when you have a good offer on the table, you should consider every single option. Sometimes, the best time to sell is when you don’t want to.
Oh! I forgot to tell you which blog I am selling 😉 I’m selling Gather Little by Little (gotcha!). To be honest, I don’t think I would be able to sell The Financial Blogger, it is now part of my daily life and I really like what it has become overtime ;-).
Blog flipper? Nah! I’m a business man, that’s all!
Some people will surely call me an opportunist or blog flipper since I am selling GLBL not even after a year its acquisition. But the truth is that I am a businessman and I know when I see a good offer on the table. When we first bought GLBL, we first thought about growing our blog portfolio with a great and well known blog. We never thought a second about selling this website (or any of our other websites either!). We are currently a money making machine that will continue to have a positive cash flow on a monthly basis. So we want it to grow, not to sell the best parts and generate less revenue!
This was an amazing learning experience
Being on the other side of the transaction felt kind of awkward; I learned a lot negotiating from the selling side (finding good points about my site instead of trying to reduce the price of a blog I was purchasing). But unlike the case when I sold my house, I didn’t have any emotions attached to the website (besides TFB, of course!). Therefore, negotiating was purely doing business.
I won’t disclose the identity of the new buyer nor the price. If you want to find out, do your research and ask the new owner ;-). In fact, I am not exactly sure what we will be doing with this money. We surely want to invest it wisely.
Don’t want to spend it all
Money is easily spent. I don’t want to become the next GM of the New York Rangers if you know what I mean. I want ensure we make smart investments that will help grow our business. This is a very interesting step that we are taking as it is the very first time that money won’t be an issue to do a project (unless we increase the size of our original projects!).
Only a few months ago, buying Green Panda was not an easy decision to make as we had limited resources. While we are far from being rich, we now have more latitude to make moves.
We will be taking a weekend off in order to work on our “annual plan”. While big companies do it to “look good”, we actually do real planning and apply our plans once it done. We have taken moments like this in the past in order to establish our direction and it worked pretty well (remember when we took a full week off to work on our online company? We had a blast… and we are making much more money today!).
So I’ll be soon posting about our new projects… as soon as I know what they are 😉
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