There is not doubt that when you buy any investment you need to conduct some research and I have found that through my experience there are 3 very common website due diligence mistakes that are easy to make.
Website due diligence mistakes that even as a pro website investor can go right over your head and be completely forgotten about. So when you are looking to invest in websites, be sure that you can cover these website due diligence mistakes that a lot of people neglect.
1. Sticking To Your Goals
I have said it many times and will continue to do so. If you don’t have goals you will never get to the places you want to go or achieve the things you want to achieve. Meaning many website investors will have goals, although where this can turn into one of those website due diligence mistakes is, they forget to go back to the beginning during their due diligence to see if the business is still going to help them achieve the goals they want.
By failing to do this and double-checking the investment is something that will take them over the path to where they want to go or not. May lead them to buy a website that doesn’t align with their goals or help them at all.
2. Asking The Seller The Right Questions
The industry of buying and selling websites is extremely prone to dodgy and fraudulent sellers. Meaning you should never take the information you receive online (where it is listed for sale) at face value. Instead getting on the phone to the seller is an absolute must before purchasing any online business. By doing this you can ask the seller various questions and verbally learn from the seller the ins and outs of the business.
Whilst many people will call the seller and chat to them as a part of their due diligence. They can still make one of those website due diligence mistakes where they may not ask the right questions.
You see a lot of people may ask the seller questions about things that are more obvious to learn and a lot of those questions may probably even be things you could find the answers to yourself. So instead of asking easy questions, poke holes at the business, put the hard word on the seller and understand why they are really selling the business.
Once you know this, you can work on it and understand if the business is still worthy or not and that is a big mistake many people make. By not asking the right questions to receive answers they could never get anywhere else but from the sellers mouth.
3. Utilizing A Website Due Diligence Checklist
After all your website due diligence is done, there is one last thing you need to do which is the very last line of defense. Meaning it should be the strongest or at least the most crucial website due diligence step that needs to be made.
However, many website investors don’t ever go back and double check over their due diligence and cross off their checklist of things they need to cover before being completely confident enough to purchase the business.
In one case I actually forget to do this myself and it can be an easy thing to do. However by remembering my website due diligence checklist and checking it off, it actually saved my life. Which is a story in itself where I nearly made the worst investment mistake ever, no sorry the worst mistake I could of made in my life (which was betting ‘the farm’, or all my eggs in one basket).
Thankfully I turned to my trusty due diligence checklist and put myself in place so I could make the right decisions. So be careful, this is one of those website due diligence mistakes anyone can make no matter how experienced you are. Always check off your website due diligence checklist before making your decision to invest is a must!
I hope you found this post helpful, and if you did please before sure to leave a comment in the chat box below, or if you would like to add some of your own value to this post please be sure to leave comment also.
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