Develop online business to sell or keep?

[smallbusinesstoolkit]

Hi everyone, If you can develop new online business and prove in the short run that it can give more profitable ... would you prefer to auction/sell it (site/blog) for a good profit ? or keep it and develop a new one with the short run revenue you made?
Any ideas?

 

[Fredrick]

Sell it and make many times more...that is one
of the strategies successful people make..

 

[Nytshade]

Keeping it can be really frustrating at times, especially if the traffic and sales drop. So selling is a good option. But I don't sell everything, I keep the ones that are always growing, cheap to maintain and easy to market.

So do both, it's a lot of fun

 

[immechanic]

Keep it and scale it up. It's a learning process I'm sure you'll find more things to improve on it. Your goal should be to automate it so it can run on minimal supervision.

Once it's running like that you can then branch out and build another company using what you've learned.

 

[oldnickb]

When starting any business one of the most important points is planning your exit strategy.

If you plan to sell it's important not to brand the business with your identity because you don't want you being the asset. That is one of the most important reasons to use pen names. Set up your business as a limited company, with it's own bank account, Paypal, Clickbank etc then selling is simply a matter of transferring shares and logins.

The way wealthy people do it is to never spend income that a business generates, but invest that income and live off the returns from their investments. May take a lot longer to get that dream house and dream car but when you do it's not dependent on business income, so the pressure is off.

 

[JOSourcing]

JOSourcing

^^^^ This! This! And This again!!!

 

[Jyothi Aniruddha]

First of all I would like to run that new online business and after running it few years or few months, if we enhance the new business then I would definitely like to keep it and develop it with a new run in very short revenue.
Before a starting any new business first thing one has to do is a perfect business planning for your ecommerce ventures, after a business plan the next most important you have to keep in mind is the proper marketing of the product or business you want to start. You should also research on more ways which are very important to start a business.

 

[RDO Servers]

If your business is successful, keep it and build it!

 

[MikePNV]

I agree that you should keep it and get it to be as successful as you can get it. Then start a new one and possibly sell that one once you are ready to.