Jim Stroud’s The Recruiters Lounge

It has been awhile since I announced that my blog was sold and its way past due for an update. Well, here is the update… the deal fell through and I am no less off because of it. As I make these confessions about what happened in front of and behind the scenes, it is my hope that the lessons I learned benefit other bloggers who may wish to follow behind me.

More or less, this is how it happened…

Ring-ring

ME: Jim Stroud, its your quarter - talk.
THEM: Hello Mr. Stroud, nice blog you have there.

ME: I like it.
THEM: And its quite popular I understand.

ME: At least 10 people read it every week.
THEM: (Chuckle)

ME: So how can I help you Mr. ..?
THEM: My name is (anonymous) and I work for (anonymous).

ME: Well, that’s a name I know.
THEM: We were interested in buying your blog, your content, traffic, all that…

ME: Really? Its not even for sale.
THEM: If you were to sell it, what would the price be? Think about it and get back to me. And come what may, we trust you to keep this matter discreet. No need to awaken our neighbors.

(Click)

My thought process…

Initially, I think that it’s a joke, but I call the company after hours, check the extension and they do indeed work there. So maybe, its legit’. Wow. I did not plan on selling my blog, but the offer is there (or at least the interest). Wow. Somebody wants to buy my blog? Its been a labor of love for so long, I did not even see it as a property that could be sold to someone else to run. Well, I did sell 2 other online properties I created and popularized (“Jobseekers Revenge” and “The Jada Pages”), so why not this one too? Hmm… what if I did sell JimStroud.com? Would people still support it? If not, would the buyer be all upset at me and think I ripped them off? Wow. I want to be fair, so… I know. I will ask the blogosphere for advice.

So publicly and privately, I ask players in the game for their advice. I start off with a blog post – “Is Jim Stroud a sell out?”

Some people said: I read Jim Stroud for Jim Stroud, no Jim Stroud, no me. (Which I felt was very flattering.)

Other people said: Don’t sell your name! It takes forever to build a rep’ and nothing to ruin it. But if you do, give us the gory details.

In retrospect, the most valuable advice came to me from Jason Davis who has been a supporter of my site from way back. (Thanks Jason!)

So I go back to THEM and say…

ME: Hey guys, in consideration of your offer, I respectfully request X as I want to raise the bar for the other bloggers out there and pay off a lot of bills. I have no problem with your non-compete thingy, provided we make a few alterations. I want to keep my domain name, but have no problem transporting all of the content to your site and re-directing all traffic from my site to yours for an extended period of time.

THEM: Not unreasonable, I will be in touch.

ME: Umm… okay.

Some time passes and my friends want the scoop…

FRIENDS: Dude!
ME: Dude! Can’t say…

FRIENDS: Dude!
ME: I made a pinky swear not to say who or what, no matter the outcome.

FRIENDS: Dude? When?
ME: Soon…

Time passes, I hear nothing, so I call…

ME: So… do we have a deal or what? Everybody wants to know, but especially me.
THEM: All your demands are met, go ahead and announce it. Check is in the mail.

I announce that I am taking the money and running. I do a happy dance.

ME: Yay!
FRIENDS: Yay! Who?
ME: They want to announce it first. I said okay.
FRIENDS: Dude!!!!
ME: Sorry…
FRIENDS: When?
ME: Soon…

More time passes.

ME: Hello? Anybody home? No check in my mailbox.
THEM: Yeah, about that…
ME: Dude! You said…
THEM: It was all a misunderstanding. Timing is not right, perhaps next year?

(Click)

Sigh…

LESSONS LEARNED

1. No matter the name and reputation of a buyer, do not announce anything until you first have it in writing.

2. If you think that you will ever sell your blog, do not give it your personal name. Name it “Bloggy” for all intents and purposes if need be; it will be less of a headache should you sell it in the future.

3. Always know the value of your blog. Your asking price may seem high to you, but you could be swindling yourself and not realize it until after the deal is made.

4. Do not be afraid to be transparent enough to share your deal with others, no matter how embarrassed you may be if it does not work out. (If you had no initial intention of selling your blog anyway and someone pitches a deal to you that does not work out; what have you really lost?)

5. Once you get a revelation of how influential your blog is (or could be), do not be afraid to accept help in taking it to the next level; even if that means removing yourself from the equation. After all, if someone wants to buy it now, someone else will want to buy it later when its worth even more. (Great advice JD!)

YOU: Dude, what now?!
ME: Time will tell.