In a recent episode of the Niche Pursuits podcast, Brock McGoff shares his experience of successfully selling his menswear websites, The Modest Man and The Slender Wrist. With both brands earning around $30,000 in monthly profit, Brock outlines the strategies he used to grow his sites through SEO tactics, branding, and building relationships with brands. He highlights the importance of quality content, diversifying revenue streams, and removing himself from day-to-day operations in order to prepare for the sale. Throughout the interview, he provides valuable insights into the selling process, the significance of building relationships with brands, and the benefits of brand building for sustainable business growth.
Brock’s journey began about 10 years ago when he started The Modest Man, which he later expanded by purchasing The Slender Wrist. Quality content and SEO played key roles in the success of his websites, with content creation involving personal updates and hands-on product reviews. Revenue was generated through display ads, affiliate programs, and digital products. In order to sell the sites, Brock diversified his income streams and removed himself from the business, recommending the importance of forming relationships with brands and using broker services for a successful sale. The interview offers valuable insights into website building, growing affiliate earnings, and the decision to sell, making it a must-listen for aspiring entrepreneurs.
The Modest Man and The Slender Wrist: A Successful Sale Story
Selling a successful website can be a lucrative opportunity for entrepreneurs who have put their heart and soul into building and growing their digital platforms. Brock McGoff, the founder of menswear websites The Modest Man and The Slender Wrist, recently sold his brands for an average profit of $30,000 per month. In this article, we will explore his journey and delve into the strategies and factors that contributed to his success.
Building and Growing the Websites
Starting The Modest Man and The Slender Wrist
Brock McGoff started The Modest Man website about ten years ago, initially as a solution to his own fashion journey. Recognizing the need for content that catered to men of smaller stature, he saw an opportunity to create a platform that would provide style advice and product recommendations. Later on, he acquired The Slender Wrist website in a private sale, broadening the scope of his digital presence in the menswear industry.
SEO and Branding Strategies
To drive traffic to his websites, McGoff implemented strategic search engine optimization (SEO) techniques. By focusing on high-quality content and using relevant keywords, he was able to improve his sites’ visibility on search engine results pages. Additionally, he prioritized branding, creating a cohesive and recognizable image for both The Modest Man and The Slender Wrist.
Utilizing Individual Product Affiliate Networks
McGoff found success with individual product affiliate networks, leveraging the power of targeted promotions. By partnering with brands and recommending specific products, he was able to increase conversion rates and earn higher commission rates. This strategy allowed him to monetize his websites effectively.
Negotiating Better Rates with Brands
Building strong relationships with brands was a key aspect of McGoff’s revenue growth strategy. Instead of solely relying on standard affiliate platforms like Amazon, he actively negotiated better rates and terms by forming partnerships with brands. This approach not only increased his revenue but also created a more sustainable and attractive business for potential buyers.
Diversifying Revenue Streams
Importance of Diversification
To prepare for the sale of his websites, McGoff understood the importance of diversifying revenue streams. By relying on multiple sources of income, he reduced his dependence on a single source, thereby minimizing risks and increasing the overall value of his brands.
Removing from Day-to-day Operations
To make his websites more attractive to potential buyers and to pursue other opportunities, McGoff gradually removed himself from the day-to-day operations of the business. By hiring a team to handle formatting, content management, editing, and writing, he was able to focus on strategic decision-making and growth.
Revenue Sources: Display Ads, Affiliate Programs, and Digital Products
The revenue of The Modest Man and The Slender Wrist came from various sources. Display ads, strategically placed throughout the websites, generated a significant portion of the income. Affiliate programs, both standard and individual product networks, provided commissions for product recommendations. Finally, digital products, such as e-books and online courses, contributed to the overall revenue.
Hiring a Team for Support
Recognizing the need for support in managing and growing his brands, McGoff hired a team to handle various aspects of the business. This team consisted of professionals who were responsible for formatting and publishing content, managing affiliate partnerships, editing, and writing. By delegating these tasks, McGoff was able to focus on higher-level strategic decisions and scale his websites.
Importance of Building Relationships with Brands
Moving Beyond Amazon and Affiliate Platforms
McGoff realized the limitations of relying solely on platforms like Amazon and other standard affiliate networks. To increase brand partnerships and secure better rates, he emphasized the importance of building relationships directly with brands. By showcasing the value his websites provided to their target audience, he was able to establish mutually beneficial partnerships.
Benefits of Partnerships with Brands
Building relationships with brands allowed McGoff to secure exclusive deals and negotiate higher commission rates. Additionally, these partnerships brought added credibility and authority to his websites, further establishing his brands as trusted sources of information within the menswear industry.
Private Sale vs. Using a Broker
Initial Attempt to Sell Privately
McGoff initially tried to sell his websites privately, exploring the possibility of finding a buyer without the assistance of a broker. However, he soon realized the complexities and challenges involved in navigating the sale process independently.
Deciding to Use a Broker
After his private sale attempt, McGoff made the decision to enlist the services of a broker. This choice provided him with guidance and support throughout the sale process, ensuring a smooth and successful transaction. The broker helped with the listing, attracting multiple offers, conducting due diligence, and negotiating the terms of the sale.
Factors Buyers Considered
Content Quality and Business Stability
Buyers were particularly interested in the content quality of The Modest Man and The Slender Wrist. McGoff’s emphasis on providing valuable and engaging content not only attracted a loyal audience but also positioned the websites as valuable assets in the eyes of potential buyers. Additionally, the stability of the businesses played a crucial role in their attractiveness.
Presence of a Dedicated Team
The presence of a dedicated team further highlighted the value of the websites. Having professionals managing various aspects of the business ensured that operations could continue seamlessly even without McGoff’s direct involvement.
Standard Operating Procedures
McGoff’s implementation of standard operating procedures (SOPs) demonstrated the efficiency and professionalism of his business. Buyers recognized the importance of having clear processes in place, contributing to the overall appeal of the websites.
Separating the YouTube Channel
Keeping the YouTube Channel Separate
During the sale process, McGoff made the decision to keep ownership of his YouTube channel separate from the transaction. This allowed him to retain ownership of the channel, which had its own value and audience.
Benefits of Maintaining Ownership
By maintaining ownership of his YouTube channel, McGoff ensured the continuity of his personal brand and the ability to leverage the platform for future endeavors. This decision provided a win-win situation for both the buyer and himself, as it allowed him to pursue new opportunities without compromising the value and integrity of the websites.
Topics Covered in the Interview
Site Building and Starting a Menswear Website
McGoff shares insights into his journey of building The Modest Man and The Slender Wrist. He discusses the challenges he faced and the strategies he employed to establish his brands in the competitive menswear industry.
Growing Sites as a Side Hustle
Many entrepreneurs begin their online ventures as side hustles, balancing their regular jobs with building and growing their websites. McGoff provides valuable advice for those looking to follow a similar path, offering tips on time management, prioritization, and leveraging available resources.
Generating High-quality Backlinks
Backlinks play a crucial role in SEO and improving a website’s visibility. McGoff shares his approach to generating high-quality backlinks, providing actionable strategies to attract authoritative links and increase organic traffic.
Defining Quality Content and Hands-on Reviews
Content is at the core of any successful website. McGoff explains what sets quality content apart from the rest and shares his approach to creating valuable, engaging, and informative pieces. He also emphasizes the importance of hands-on reviews, providing firsthand experiences and insights for his audience.
Breakdown of Revenue Streams
McGoff explores the various revenue streams that contributed to the success of The Modest Man and The Slender Wrist. He discusses the role of display ads, affiliate programs, and digital products in monetizing his websites and maximizing their profitability.
Growing Affiliate Earnings and Brand Partnerships
Affiliate earnings and brand partnerships played a significant role in McGoff’s revenue growth. He discusses strategies for increasing affiliate earnings and offers insights into the benefits and opportunities that come with forming strong partnerships with brands.
Utilizing Premium Ad Networks
To maximize revenue potential, McGoff utilized premium ad networks to display ads on his websites. He shares his experiences with these networks and explains how they contributed to his overall revenue growth.
The Selling Process and Benefits of Brand Building
McGoff provides a comprehensive overview of the selling process, sharing his experiences with listing, attracting offers, conducting due diligence, and negotiating the terms of the sale. He also highlights the benefits of brand building and how it contributes to the overall value and attractiveness of a website.
Publishing and Updating Content
Keeping a website up to date with fresh and relevant content is crucial for success. McGoff discusses his approach to publishing and updating content, emphasizing the importance of staying consistent and providing value to the audience.
Decision-making Process to Sell
Finally, McGoff discusses the decision-making process that led him to sell his websites. He shares his personal reasons for pursuing other opportunities and explains how he prepared his businesses for the sale.
The Success Factors of the Websites
Quality Content and SEO
The success of The Modest Man and The Slender Wrist can be attributed to the emphasis on quality content and SEO. McGoff’s commitment to providing valuable, well-researched, and engaging content helped establish his brands as trusted sources of information.
Personal Updates and Product Reviews
McGoff’s personal updates and hands-on product reviews added a personal touch to his websites. By sharing his own experiences and insights, he built a loyal audience and solidified his brands’ authority in the menswear industry.
Revenue Sources: Display Ads, Affiliate Programs, Digital Products
The revenue of The Modest Man and The Slender Wrist was diversified across multiple sources. Display ads, affiliate programs, and digital products provided consistent income streams, contributing to the overall profitability of the websites.
Insights and Lessons Learned
Importance of Quality Content and SEO
McGoff’s success underscores the importance of quality content and SEO in growing a website and attracting the attention of potential buyers. By prioritizing these aspects, entrepreneurs can establish their brands, build credibility, and create valuable assets for potential sale.
Mitigating Risks for Potential Buyers
Diversifying revenue streams, removing oneself from day-to-day operations, and implementing standard operating procedures are key steps in mitigating risks for potential buyers. By demonstrating stability and scalability, entrepreneurs can make their websites more attractive and valuable to potential buyers.
Brock McGoff’s journey in building, growing, and selling The Modest Man and The Slender Wrist showcases the power of strategic decision-making, quality content, and strong brand partnerships. By following his strategies and insights, aspiring entrepreneurs can learn valuable lessons and increase their chances of success in the competitive world of online business.