Imagine being stuck in a job you don't like, dreaming of something better. That's where Georgi Todorov was before he decided to start his own blog and online business. With $50,000 from his savings and lots of determination, he created Thrive My Way, a website to help other entrepreneurs.
Georgi didn't have all the answers at first. He learned about Search Engine Optimization (SEO) from online resources and hands-on experience. This knowledge became the foundation for Thrive My Way. He launched the site in August 2021, focusing on valuable content to attract visitors through search engines.
The journey wasn't easy. Georgi faced big challenges, like when Google changed its algorithms, causing his site's traffic to drop. Instead of giving up, he adjusted his strategies and worked harder. His resilience paid off, and the website came back stronger than ever.
Georgi Todorov
Changing paths
Georgi's journey to becoming an entrepreneur began when he realized his current job wasn't right for him. Determined to carve out his own path, he focused on learning Search Engine Optimization (SEO). He used online resources, like the Whiteboard Fridays series from Moz, to teach himself the ins and outs of SEO, giving him a solid foundation.
With his new SEO skills, Georgi started working as a freelancer, which allowed him to practice and enhance his abilities. He then spent a year at Semrush, further developing his expertise in SEO.
However, even with all this valuable experience, Georgi realized that a regular 9-to-5 job wasn't his true calling. He knew that to truly thrive, he needed to launch his own business venture.
Launching Thrive My Way
In August 2021, Georgi decided to take a big risk. He invested $50,000 from his savings to start his own business, Thrive My Way.
Georgi's goal for Thrive My Way was to create a comprehensive resource platform. The website would provide entrepreneurs with the tools and knowledge they need to successfully generate income online.
Georgi's approach to building Thrive My Way was very thoughtful and strategic. He started by doing extensive research on keywords. This helped him identify the best opportunities to attract organic traffic to the website.
With a clear plan in place, Georgi then created initial article drafts and outlines. This laid the foundation for Thrive My Way to become a content-rich website.
Scaling content creation
To make his vision for Thrive My Way a reality, Georgi built a team of 20 talented content writers. These writers took Georgi's initial drafts and turned them into hundreds of high-quality articles. The articles covered a wide range of topics that were relevant to online entrepreneurs.
Georgi's investment in creating great content was a key reason for Thrive My Way's rapid growth and success.
But Georgi didn't stop there. He also used virtual assistants to further optimize the website's content for search engines (SEO). Georgi created clear processes and detailed documentation. This allowed his team to implement effective SEO strategies, even if they didn't have prior experience. This approach enabled Thrive My Way to successfully compete with other established websites in the same niche.
Explosive growth and challenges
The results of Georgi's hard work were incredible. In just 8 months, Thrive My Way reached over 100,000 organic website visits. This is a milestone that often takes years for most online businesses to achieve. Georgi's strategic planning and execution were a big reason for Thrive My Way's meteoric rise.
However, the journey was not without difficulties. After an initial burst of content production, Georgi's motivation started to decrease. With less new content being added, Thrive My Way became vulnerable to changes in Google's search algorithm.
In September 2022, a major Google algorithm update had a significant impact on Thrive My Way. The website's daily traffic was cut in half, from 6,000 clicks down to 3,000. Then in December, another Google update further compounded the problem.
Monetizing the website
Georgi used two main strategies to monetize the website:
- Paid ads
- Affiliate marketing
The site has multiple ad placements with ads from Mediavine, however, its main monetization strategy is affiliate marketing. Georgi placed affiliate links to various tools and software that help the students in making money online. From web hosting platforms, website building tools and many more.
He actually dedicated a full section of the website called “Best deals” that lists all the useful software tools for his students and their discounts.
Rising from the challenges
Despite the challenges, Georgi remained determined to turn Thrive My Way around. In early 2023, he focused his energy on improving and updating the website's content. His professional experience and confidence in his abilities fueled his recovery strategy. Georgi knew he needed to invest time and resources to compete with the more established websites in his niche.
Georgi's hard work paid off in March 2023 when another major Google update happened. This update propelled Thrive My Way to new heights. The website's daily clicks soared to over 10,000, surpassing its previous peak. This remarkable resurgence demonstrated Georgi's resilience and ability to adapt in the face of adversity.
The decision to sell
Even though Thrive My Way was doing well, Georgi felt stuck. His passion was in starting new things, not growing existing ones. He didn't feel motivated to keep expanding Thrive My Way. So, he decided the best thing to do was sell the website, take the money, and start a new project that would get him excited again.
Georgi had made money from Thrive My Way in lots of different ways. He started with display ads, then added affiliate links and sponsored posts. He even created a digital course, making the website attractive to potential buyers.
Navigating the sale process
At first, Georgi thought about selling Thrive My Way through Empire Flippers because of personal connections and recommendations. But their offer was lower than he expected, so he looked for other options.
That's when Georgi found Flippa. After talking to Aswin from Flippa, Georgi was happy to learn his website could be listed for at least $160,000. With this encouraging valuation, Georgi chose Flippa's premium service to get the most visibility among potential buyers.
The response was overwhelming. Thrive My Way got 205 inquiries thanks to Flippa's premium listing and targeted promotion. One buyer, in particular, showed interest in purchasing the website right away.
Closing the deal
Georgi appreciated how straightforward and efficient the buyer was. While other interested parties wanted lengthy evaluations, this buyer stood out for being decisive and requiring minimal due diligence.
In the end, Thrive My Way sold for $102,000 at a 2.2x ARR multiple. This far exceeded the initial valuation from Empire Flippers. The buyer's extensive transaction history on Flippa also gave Georgi confidence to proceed with the sale. The deal was concluded quickly and smoothly, providing Georgi with the hassle-free exit he had hoped for.
Lessons learned and future plans
Georgi's time with Thrive My Way offered some great lessons for aspiring entrepreneurs and website owners. He stresses the importance of thinking about a potential future sale right from the start, like choosing a brandable and easily transferable domain name.
He advises future sellers to keep costs low and focus on net profit, not just revenue. Being smart with spending while developing the website can really boost the final sale price.
Looking forward, Georgi has already bought the domain CreateandGrow.com. He plans to share his strategies for growing a blogging business through SEO there. He's still committed to online entrepreneurship and looks forward to working with Flippa as an affiliate.
Reflecting on his experience, Georgi knows that SEO is always changing and it's important to diversify traffic sources. While Thrive My Way relied heavily on SEO, he understands that depending only on Google isn't a sustainable strategy anymore. With his new venture, Georgi plans to explore other channels like podcasting and LinkedIn to build an engaged audience and promote his content.
Conclusion
Georgi Todorov's success with Thrive My Way shows how powerful it can be to learn on your own, plan carefully, and work hard. In just two years, he turned $50,000 into a successful website that got 300,000 monthly visitors and sold for over $100,000.
Georgi’s journey is a great example for anyone wanting to start their own business. It shows how important it is to spot opportunities, create high-quality content, and keep up with changes in the digital world. His way of handling problems, bouncing back from setbacks, and making tough choices reveals the toughness and flexibility needed to succeed online.
As Georgi moves on to his next project, Create and Grow, he takes with him what he learned from Thrive My Way. His focus on getting traffic from different sources, trying out affiliate partnerships, and building his own brand shows how he’s grown as an entrepreneur and is ready for new challenges.
