Goran Duskic is the owner and founder of several software companies, has raised hundreds of thousands in Venture Capital for his projects, and owns and invests in websites that make him thousands a month, all while living in Croatia where the cost of living for a family is around $1,000 a month.
His story is incredibly interesting, and below he shares how he got into making passive income from websites.
Dreaming of Passive Income?
If your dream is to start a business, you probably have a ton of excuses.
Hence, it is still just a dream.
Some of the most common excuses are time, money and other factors close to these two.
In the end, excuses are just excuses, and if you want something badly enough, you will go for it, no matter your circumstances.
For me, entrepreneurship started with a borrowed computer in a post-communist country. I had little experience, and I worked like my life depended on it.
Now I know there’s a better way.
Starting a new business is super hard, and you have probably heard the statistics on how often fledgling businesses don’t make it.
But, at the same time, looking for shelter behind the image of a “safe job” is not the answer either!
Long commute, putting up with people you don’t like, “doing as they say, not as they do”… Is this all there is to life?
In case you’re wondering, yes, there is definitely more to life, and if you keep reading I’ll share my journey to finding more in life.
How I Stumbled into Website Investing
Fast forward from my “borrowed computer” situation; my VC backed business was struggling. I was quickly joining the trend, and I was running out of ideas.
We were not going under, but we hadn’t lived up to the Silicon Valley high valuation either. It was early 2017, and Bitcoin was approaching its $1000 value.
I had some money saved up and wanted to create my first passive stream of income.
After reading and talking with some of my peers and mentors, I skipped the whole crypto-craze and decided to go back to the roots. Websites!
My first business was a web design and web hosting business. There I learned how to create a website and later how to advertise on Google and Facebook.
We started in 2006, so Facebook wasn’t around, and AdWords wasn’t a thing in Croatia.
I had heard about affiliate marketing, but I had clients to work with, and to be honest, I didn’t know any better. Lucky for me, I learned a lot, and it came in handy when I started buying revenue-making websites.
So, in 2017, I made a smart choice. Instead of running after the latest craze, I looked into acquiring my first website.
Well, technically, it was my second purchase. I got burned on a scam back in 2014, but that’s a long story for another time. More on how to avoid getting burnt, keep reading.
The important message here is that I gathered the courage to try again, and I am very glad I did.
Otherwise, I wouldn’t have been able to buy my new lovely small apartment, on an island, within 5 minutes walking distance of an incredibly beautiful beach.
I bought my first website for $500. Second for $550. Third for $2200. The rest is as they say history.
Those first few websites I bought have already made 100% on their returns.
So now I know I am not crazy, and I want to help others join the ride.
I would rather not disclose publicly how many investments I have made. I can share the numbers for those first 3 investments I already mentioned.
I still own all 3 websites.
|Date Purchased||Site Number||Site Cost||Site Revenue||Site ROI|
|March 2017||1||$1,000, Bought for $500 invested additional $500||Revenue $855||Return 85%|
|June 2017||2||$935, Site 2 Bought for $550 invested additional $385||Revenue $734||Return 76%|
|July 2017||3||$2,275, Site 3 Bought for $2,200 invested additional $75||Revenue $2,685||Return 120%|
Editor’s Note: Goran also owns another website not described here that makes him around $5,000 a month.
Why 85% and 76% when I just said they had 100% returns?
Well, once they had 100% returns, I invested more money into those websites. I am tracking website lifetime value, not immediate gains and losses.
Websites are an investment that continue to return income and grow over time, not one-time profit loss machines.
6 reasons why you will love revenue-making websites
- You can be wherever you want.My fiancee and I bought this place on an island because we would like to be there. We are not digital nomads per se, but we could be.Two weeks in Florence, Italy, followed by three weeks in Alicante, Spain?No problemo!
Please don’t be mistaken, we still have to work a lot, but we can work wherever we want.
- You can pick your projects.Gaming was an old passion of mine, so I bought a website around games. I am vegan, so I bought a website that’s making money with affiliate commissions for selling products to vegans.I am super passionate about website investing, so my company built software that helps website investors.See how that goes?
- Revenue is mostly profit.The cost can be so low compared to other businesses that most of it is profit, especially if you handle the work yourself like writing, graphic design or SEO.Depending on the website, there have been occasions where I haven’t worked on the website at all, and it still gives good monthly returns 24 months later.
- Low headcount.A friend of mine runs a ten-person agency. He has so much payroll, responsibilities, projects, office maintenance and he is still not making any money. That’s with 10 people, imagine a 100.And then you know how companies go on a retreat?Let’s face it, most people would rather be somewhere else.
- Easy to maintain, solid returns.Compared to a restaurant and many types of businesses, websites are easy. Compared to stocks, websites are easy. Compared to real estate investing, websites will probably have a better risk-reward ratio.Before my fiancee and I bought this place, we rented an apartment for €270. If you wanted to buy a similar apartment (same skyscraper), it would cost you €70,000.If I bought a website for €70,000, I would expect my money back within 40 months at the latest, not 260!
- Choose your work hours.I could have said “make money while you sleep”, because the websites are running 24/7, but working whenever you want is more realistic.It comes with a real challenge to motivate yourself to work.Yes, the money comes even if you sleep. However, it is you who has to push yourself to work.
You have the option to pick when it’s most convenient for you, that’s the difference.
How to Avoid Getting Scammed When you Buy your First Website
When I bought my first site, everything was going great. Traffic looked realistic in Google Analytics, and clicks were flowing in my Google AdSense account.
One month later when I was approaching the $500 mark I opted for my first AdSense payment.
A couple of days later my account was banned and with it completely shut down. I was so devastated that I completely gave up on those 2 web sites.
Google didn’t tell me why they banned and shut down my Adsense account, but I think the site was built by scammers who fabricated the site traffic and Adsense clicks.
I consider myself a website expert, so I was really hurt when I figured out I had been tricked, and lost money in the process.
It took me years to recover mentally and try again. Back then money was really scarce and I was going through enormous challenges with my business.
Like Stacy Caprio said in her own website buying case study on the Her.CEO site, you have to do serious due diligence before you make the purchase, and don’t invest in fads or you could get burned.
Let’s build upon that.
What I like to do is understand where exactly the traffic is coming from, and how good are my skills at containing it.
I like websites that rely on search engine traffic, and for me, it’s not enough to see a verified listing or verified Google Analytics account. I don’t even look at the Google Analytics account.
I use tools that show me the list of keywords for which this website ranks.
That way I can see that the website I am considering for buying, is in fact at the top for a particular keyword.
I use another tool that gives an approximate number of searches, so I know if that keyword could bring a lot of traffic or no traffic.
Why revenue-making websites are perfect for passive income
So don’t chase the latest get quick rich scheme. Make sure the opportunity (income stream) is the one that suits you most, and then dive deep.
Doing this is what has allowed me to live my dream life with my fiancee, in our gorgeous beachside Croatian apartment. Without risk there is no reward, and I wouldn’t have it any other way.
Good luck, and see you on the other side!
If you’re interested in following in Goran’s footsteps and buying a website for yourself, you can sign up for Stacy’s Her.CEO website investing waitlist using the form below to receive our occasional, vetted site for sale emails: