Step 1: Calculate an Estimated Value and Reserve Price – While you are the only person who knows the exact potential value of your blog, you still need to set a selling price. The most common way to define this price is to calculate the total average revenue of the last six months. When it comes to setting the reserve price, remember that it should be set up to the minimum value you will accept for your website to be sold at.

Step 2: Choose a Marketplace – You need to choose an online marketplace where there will be enough users who take interest in your auction. I personally prefer Flippa and DigitalPoint. If you have never visited either of these online marketplaces, here is what you need to know about them:

Flippa - Because it’s not free and they take a fee on successful listings, you need to ensure that you at least have a decent blog to sell here so you can cover their fees and still come away from the sale with money in your pocket. Although I covered more information in my detailed Flippa review, the biggest advantage to keep in mind is that the fees involved mean that there are only serious webmasters here who won’t waste your time.

DigitalPoint - While it has been pretty lame recently as a result of all the new members who have flooded to the site, it’s still free and very easy to create a new sales thread.

Step 3: Write a Sales Description – Never write a long sales description, as potential buyers will get bored and move on to another listing. Your short description should get to the point by providing revenue details, screenshots, traffic proof and monetization methods. If you have good stats related to backlinks, Alexa rank or other popular metrics, be sure to include them as well, as it will boost interest among potential buyers.

While many sellers don’t display Google Analytics data because it shows less traffic than AWStats from the cPanel, most potential buyers are aware that the Analytics stats are more accurate. Therefore, if you have decent traffic, you can gain positive attention by including your Google Analytics data. Also, let people reading your description know if your content is original or your design is custom, as these factors add extra value to your blog. Finally, don’t forget to include where the domain name is registered and the types of payment you accept.

Step 4: Prepare For Transfer – You need to change your blog’s password, as well as backup the database. You can backup your blog’s database by using phpMyAdmin or the WP Dashboard. Next, copy the wp-content file. Finally, zip the files so that they are ready for easy transfer.

Step 5: Transfer the Files After Receiving Your Payment – Although most people are honest buyers, there is always a chance that someone is trying to scam you. Therefore, make sure you receive your payment before initiating the transfer of the domain name. Once you have successfully received it, you can initiate the domain transfer, as well as email the files and password to the buyer.

Step 6: Reinvest and Repeat – While it may be tempting to take your profits and spend them on a night out with your friends, the best business decision to make is find a new blog where you can reinvest your money, add value and then repeat the process over again!