If you are just starting out in the domain name industry, I’ve managed to write down some important points to follow in order to do well. I’ve had multiple requests since my yesterday’s Facebook status post, so here we go:
1. Stick to .com extension for quick ROI (return on investment) until you have figured it out.- Other extensions (including New gTLDs) sell as well, however, you may have to spend some time reading, learning and trying to figure that out.
2. Thorough research required before buying or hand registering a domain name – There are hundred’s of opportunities around in the form of future-tech, current trends, expired/dropping keyword domain names etc eyeing your hard earned money, pick and choose wisely. Make sure of looking into each domain name, research well, and think why an end-user company would ever want to use your domain name as part of its brand.
3. Keep a close-watch and manage your cash flow – Domain Name Investing (business) is definitely not a stable full-time source of income. A recent poll conducted by Namepros.com showed that 52% of domain name investors made a loss, merely broke even or earned below $1000 in the year 2017. Regular cash-flow is a must in order to sustain the domain name industry.
If you are well-researched about your domain names, renewal bill next year won’t be too heavy and you will get cracking with some decent domain name sales. Happy Domaining!