Ten years ago, George Todorov was in a labor-intensive job he knew wasn’t the right fit for him. Intrigued by Search Engine Optimisation (SEO), he self-taught himself through online resources like Moz’s Whiteboard Fridays. He began freelancing and then took a year-long role at Semrush. However, he realized that the 9-5 grind wasn’t for him and decided to leverage his skills and knowledge by investing in a new business adventure.
Launching Thrive My Way
In August 2021, George invested $50,000 from his savings to start his own website, Thrive My Way. The website is designed to serve as a comprehensive resource platform, offering valuable tools and information to help entrepreneurs successfully generate income online.
He designed a robust strategy for the website, starting with exhaustive keyword research and creating preliminary article drafts and outlines. With these foundational elements in place, he engaged a team of 20 content writers to expand these drafts into several hundred articles.
George delegated the articles to his virtual assistants to further optimize the website content for SEO. The assistants followed George’s detailed processes, which were structured to be so intuitive that even those with no prior SEO experience could implement them effectively.
The result was a remarkable growth in organic traffic. Within eight months, Thrive My Way surpassed 100,000 organic website visits.
But the journey was not without its challenges and fluctuations.
- By May 2022, George was on a roll, with a strong track record of published articles. However, he lost motivation after May and stopped producing new content. This lack of activity set him up for a significant downturn come September.
- A Google core update halved his site’s daily clicks from 6,000 to 3,000.
- A second Google core update in December dealt another blow to the website’s traffic. Despite these setbacks, George rallied in early 2023 by putting a concerted effort into content improvement and updates.
- His hard work was rewarded in March 2023, when another Google core update led to a resurgence in traffic, boosting daily clicks to more than 10,000.
Explaining his recovery strategy, George said “I had the professional experience, the confidence, and I knew that if I wanted to compete with those big websites, I have to put money into that.”
Deciding to Sell
Originally, selling the website wasn’t part of George’s plan. However, he admitted, “When I lost motivation, I knew the best thing I could do is to sell it, cash out, and start something else.”
This pivot was fueled by George’s preference for initiating new projects rather than scaling existing ones. “For me, it’s important to have satisfaction from what I’m doing, so I chose that,” George said.
Regarding monetisation, George was pragmatic and diverse in his approach. He first capitalized on display ads, then integrated affiliate links and sponsored posts. More recently, he introduced a digital course as an additional revenue stream.
Navigating the Sale
Initially, George planned to sell through Empire Flippers, citing personal connections and high recommendations. However, after a disappointing valuation for his website, George reconsidered.
That’s when he turned to Flippa.
After talking with Aswin from Flippa, he was advised that he could list his website for at least $160K. “I said, Aswin, Are you serious?’ He said, ‘Yes, I’m very confident,'” George recalled.
He opted for Flippa’s premium service to make sure he stood out among the many listings.
Closing the Deal
George received 205 enquiries about his website listing, thanks partly to Flippa’s premium package and additional promotion through newsletters.
Among those interested was a buyer who immediately enquired about payment methods. In other words, he was ready to buy. After a brief period of silence, this buyer returned with a substantial offer.
George valued the buyer’s straightforward approach, and there wasn’t a lengthy due diligence process, which other interested parties required.
The website sold for $102K at a 2.2x annual profit multiple, significantly more than Empire Flippers had estimated.
The buyer’s extensive transaction history on the Flippa platform added to George’s confidence in proceeding with the sale. The transaction was completed quickly and efficiently, meeting his expectations for a no-hassle selling experience.
Future Plans & Key Takeaways for Sellers
George plans to focus on online entrepreneurship for his next venture and partner with Flippa as an affiliate.
George’s advice for future sellers: “Think about selling it from day one,” he advises. The choice of domain and brand name is important. “If it’s myname.com, it’s not flippable at all,” he said, suggesting that sellers should be strategic right from the point of registering the domain.
The preparation for a sale should encompass every aspect of the website—from the type of content created to the methods of monetisation.
His specific advice for prospective sellers is to keep operational expenses low. “Net profit is what makes the multiples, not the revenue,” he explains. “You should be efficient in your spending on developing the website.”
What’s next for George?
George has acquired the domain Createandgrow.com—where he will share actionable first-hand strategies about growing your blogging business through SEO.
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