Starting with a plan is always the best way - whether you name your exit strategy early or plan on handing it on to your team its good to know which way your going to take each business you enter.
Good successful business strategy however is not what the mass markets achieve. If you take buying and selling online - websites. The bricks and mortar of the internet, a huge proportion of them are started as hobby sites, sites to just be there - you don’t get houses that were built just to be there!
But then I suppose online sites don’t need to be business’s. They can be cost effective hobbies - great for the hobbyist that likes his anonymity and interior situations. But when it comes to exiting their beloved site what happens? they sell it - but because the internet is a sea of sharks and pirates with very little stable ground chances are the site with mediocre visitor rates and ad turnover will sink to the depths of coding coral. But alas this doesn’t have to happen, clever entrepreneur’s and semi-pro pirates can offer a reasonable price.
To be honest - why shouldn’t they? The problem as I see it is that the mass democratisation of the tools that power the internet mean that it houses both business, sharks and kids - all in the same pool. The business’s want their slice of the cake, the sharks want all the cake and the kids just want to view the cake on youtube.
So pay attention entrepreneurs, because theres money in hobby sites, especially as you can get them for next to nothing! - Subscribe now to hear how I turn a range of hobby and small niche sites into a profitable base for my main projects. Some call it flipping, I call it flipping awesome.