I was talking to my friend Matt Coddington and he told me he has listed his blog, Net Business Blog, for sale at the Sitepoint Marketplace. The current bid is $5,100 and there is a $20,000 BIN in case you want to take it right now.
All this got me thinking about the exit strategy. At what point do you cash out? Net Business Blog has been up for only five months but in that short time, Matt has build it into in a $1,500 per month revenue generating machine. Matt says the blog has no expenses (other than his own time updating) so all income is profit. If Matt sell the blog for the $20,000 BIN price, it would be a very good return for five months of work.
I am not sure if Matt started NBB with the intention of selling it down the road. He tells me he wanted to work more on his personal blog. This is not the first time Matt has sold a site. He seems to be following a model of build it and sell it. I have never sold any sites that I’ve created. I don’t have an exit strategy for this blog because I don’t plan to exit. This is why I run the blog using my name – that makes is pretty much impossible to sell. What’s a John Chow dot Com without John Chow?
I wish Matt good luck on the sale. I hope the new owner continues to deliver the quality content that Matt pumps out on a daily basis. Do you have an exit strategy? At what point do you sell and how much would you sell for? If you had sold a site, I would love to hear how the site is doing now.