Many people who pursue a career online start as service providers. In most cases, this is in the form of a digital service provider, helping clients solve any challenges they face and making a profit out of it. While this is a great way to make money and friends worldwide, it is not the only way through which people make money online.

Some are fortunate enough to learn about the various money-making avenues that the internet offers; they pursue these dreams rather than trading their time for money and essentially still being employed by a client. In fact, digital employment, the kind that a freelancer is after, is often more dangerous than a fixed, physical job.

The main drawback is that clients are looking for a solution for a specific problem, once that is resolved, the job is complete and there is no further need for the freelancer. In some cases, their work is an ongoing activity, for instance, someone who is providing telephonic customer support for a client will likely be doing this for as long as the client needs that service, and this can be a long time.

On the other hand, there is a way for you to make money without having to actively work for it. While you will have to put in some effort in starting this system, you are building something that can not only sustain itself in the future but can also pay you back consistently over time. For example, if you are a content creator and you are getting paid by the platform through which you publish your content, or you are getting paid by advertisers who market on the pages on which your content is displayed, you only have to create that content once and it willing consistently pay you back as long as it is published.

An even more effective way to make money is to sell the platform you have created. If your platform is profitable, even if it is just a small blog that focuses on a very niche subject, it can be sold. Often, the worth of these money-making assets will be decided on the basis of what that asset will be able to generate in a matter of years. Here is how you can do this.

1.  Evaluate The Business

The first thing, and often the most challenging, is determining what your business is worth. While your monthly earnings are a good indicator of this price, it is not the only thing that you need to consider. Different online assets are built in different ways, and this impacts their overall value. Prices for certain kinds of assets that earn the same amount of money in a year will vary greatly. You need to price your asset right to get the best return. For instance, the value of an e-commerce store earning $1000 per month will be very different from an app that earns the same amount in the same time period. The market, assets, and clients are different. So, you need to look at the specific metrics of your digital asset and set a price accordingly. Getting a professional to help you out in this regard is a great idea as the price you set now will determine the final payout that you receive from the buyer. By using proper financial methods, you can get the best price for your asset.

2.  Look For Buyers

No matter how niche your business is, as long as it is profitable, someone will be interested in purchasing it from you. The challenge is to find the right person. If you have a profitable e-commerce store, a blog or an affiliate website, you will come across many people willing to buy it from you, but they won’t be giving you the best price. This is mostly because they don’t have enough knowledge and experience about how they can take an online business and scale it even further to eventually turn it into a success. The right buyer is someone who not only knows and understands the current worth of the business but also has the skills and resources to take it to the next level. A great example is YouTube that Google bought for over $1.5 billion. YouTube founders were facing challenges in expansion, and Google knew they could take the business to new heights. You can use several websites to list your assets and find a buyer. The main factor is that you choose a suitable platform for your kind of product and the selling conditions are something that will also benefit you. Browse a few different options to get an idea of what they offer and what will work for you.

3.  Streamline For The Sale

The sale of a business, whether physical or digital, is never an easy process. Luckily with digital assets, there isn’t a lot of physical inspection required. However, getting the asset in a shape which the other person can use can be challenging. Even for a buyer who knows the business and the platform, adjusting and getting accustomed to something made by someone else isn’t easy. Also, these sales can be priced high, so be ready for different payment options that sellers might offer. Keep your options open, whether the seller is offering an earn-out, a deposit, or some other financial instrument in exchange for the asset. There is no problem with having your own requirements, but there are certain industry norms that you should be aware of, especially if it is a high-value sale. Similarly, for digital assets, you might also have to reassign some of the controls in the back end, such as changing ownership of the domain, the hosting, and working out the finer, more technical details. If you have any patents or trademarks, be sure to address these as well.

For most businesses that are traded online, there is also an interim period where you might be sharing responsibility and ownership with the new owner. This is the time when the new owner is getting accustomed to the solution, and you might even need to spend some time with them in teaching them the basics and how they can go about developing the solution further. Factor in these purchase problems and interim problems into your price when looking for the right seller.