Make Money With Domain Names : 10 Steps to Success (Part 1)

dotcom

In one of the richest deals ever in domain reselling, www.cellphones.com was sold for USD$4.2 million in cash. The original owner paid USD$90 for the name in 1996

Why are domain names such big business?

“The secret has to do with what’s known as type-in traffic, or, in Wall Street jargon, direct navigation. Though it may seem odd in the era of powerful search engines, it turns out that millions of Internet surfers don’t use search at all. Instead, they type what they’re looking for right into the top of their Web browser.

Looking to buy candy? Type in Candy.com, a name Rick Schwartz bought in May 2002 for USD$108,000. A page filled with links to candy-related products comes up. Click on one of the ads and the advertiser pays Google, which in turn sends a share to Schwartz and the company that runs Candy.com. Some days Candy.com makes Schwartz USD$300 in profits; the site paid for itself in a year and a half. “ – via Business 2.0 CNN Money

Let me start by saying by no means am I a professional at domain speculation, but I have made a few quick investments, and have reaped some nice rewards including a recent sale of PotteryCourse.com for USD$200 (which I registered for USD$7)

I would also say that domain speculation is one of those online money making activities you can try for fun, but the risk is high, and success rate is relatively low, so don’t expect to quit your day job anytime soon.

In case you want to try your hand at this, here are a few quick tips.

1. Do the research:

You will want to get a feel of what’s selling on the market and for how much. Check out prominent domain resale and discussion sites such as DomainState & Namepros for a start. I found this this forum thread on Namepros to be particularly useful as it serves as a compilation of names members have actually sold, with their respective amounts.

2. Pick the name:

When deciding on the name you want to pick keep in mind these tips:

  1. Keep the name short and simple. Use as few words as possible
  2. Do not use separators in the domain name
  3. Buy the generic product category names
  4. Buy a .com whenever possible
  5. Don’t infringe another company’s trademarks

For more details you may want to read the full article on Critical Considerations for Picking Business Domain Names.

Another way to determine how popular your domain name might be, would be to check Overture’s free keyword suggestion tool – which tracks how popular a search term is, or Google’s own search results to see if your domain contains a highly indexed (and probably highly demanded) keyword.

3. Go Hunting:

Most registrars offer some form of a domain hunting tool to let you know if your desired domain is available. Some even provide suggestions for you if they are not. My favourite however is still Instant Domain Search which checks domain availability – as you type. They’ve even come up with a widget which I have embedded in this post so you can search for domains right from this page. (RSS/email subscribers – please click through if you have trouble viewing the widget in this post.)

4. Pick a registrar

  • Picking who to buy from isn’t always about who’s the cheapest.
  • Good support, to answer any questions you may have
  • Ease of transfer is important to avoid any delays when reselling the domain
  • Track record is important. Search the web to see what people are saying about them. Sites like WebHostingTalk and BestHostRatings offer reviews as well. If they don’t have good support for hosting, they probably won’t have good support on domains either.

Oh yes, avoid iPowerWeb like the plague. My short experience with them was nothing less than horrible.

5. Find discounts

Coupon Codes are codes that enable you to receive discounts, and a great way to purchase domains without having to pay full price.

Check out domain related forums, and members will sometimes disclose coupon codes to help the community in general. GoDaddy.com for example, publishes coupon codes openly on podcasts. If you plan to use GoDaddy.com you can type in Chris1, Chris2, Chris3, or Digg in the coupon code section to enjoy great discounts.

Coming soon…

Now that you’ve dealt with purchasing your domains, check back soon part 2 where we deal with selling your domains. Speaking of which – What other things do you looks for when reselling domains?

684 Responses to “Make Money With Domain Names : 10 Steps to Success (Part 1)”

  1. Kl?¤ranlage says:

    “I’m not sure exactly why but this web site is loading extremely slow for me. Is anyone else having this problem or is it a issue on my end? I’ll check back later on and see if the problem still exists.”

  2. Hello friends, how is the whole thing, and what you would like to say regarding this article, in my view
    its genuinely amazing for me.

  3. “Hi there. I found your web site by way of Google even as looking for a related topic, your web site got here up. It seems to be great. I have bookmarked it in my google bookmarks to come back then.”

  4. I do not even know how I ended up here, but I thought this
    post was good. I do not know who you are but definitely you are going to a famous blogger if you are not already ;) Cheers!

  5. Klaus says:

    Saved as a favorite, I love your web site!

  6. Leilani says:

    Can I simply just say what a comfort to uncover somebody
    who actually understands what they’re discussing on the net.
    You definitely know how to bring a problem to light and make it important.
    More and more people must read this and understand this side
    of the story. I was surprised you’re not more popular since you definitely have the gift.

  7. Wow, this post is pleasant, my younger sister is analyzing such things, thus
    I am going to convey her.

  8. Please let me know if you’re looking for a article writer for your blog.
    You have some really good posts and I think I would be a
    good asset. If you ever want to take some of the load off,
    I’d love to write some material for your blog in exchange for a link
    back to mine. Please shoot me an e-mail if interested.
    Thank you!

  9. Every weekend i used to pay a visit this web page, for the reason that i wish for enjoyment,
    since this this site conations really nice funny information too.

  10. I’m curious to find out what blog platform
    you’re working with? I’m having some minor security problems with my latest website and I’d like to find something
    more safeguarded. Do you have any recommendations?

  11. Google says:

    Below you will come across the link to some web-sites that we think you should visit.

  12. Sheila says:

    What’s up mates, its fantastic post concerning
    cultureand fully defined, keep it up all the time.

  13. It’s actually very complex in this full of activity life to
    listen news on Television, so I simply use web for that
    reason, and take the latest news.

  14. Charlotte says:

    Hi, I do think this is an excellent web site. I stumbledupon it
    ;) I am going to come back yet again since i have bookmarked it.
    Money and freedom is the best way to change, may you be rich and
    continue to guide other people.

  15. I constantly emailed this website post page to all my contacts,
    since if like to read it afterward my links will too.

  16. I’ll right away seize your rss feed as I can’t find your email subscription link or newsletter service.
    Do you’ve any? Please allow me realize in order that I could subscribe.
    Thanks.

  17. Incredible story there. What happened after? Thanks!

  18. Why people still make use of to read news papers when in this technological globe the whole thing is available on net?

  19. Fine way of explaining, and nice article to get data concerning my presentation topic,
    which i am going to convey in institution of higher education.

  20. Terrific article! That is the type of information that are supposed to
    be shared across the internet. Shame on the search engines for no longer positioning this publish upper!
    Come on over and visit my website . Thanks =)

  21. Gwendolyn says:

    This site was… how do I say it? Relevant!! Finally I have found something that helped
    me. Cheers!

  22. My brother recommended I would possibly like this web site.
    He was once entirely right. This submit truly made my day.
    You can not believe just how a lot time I had spent for this info!
    Thanks!

  23. That is a great tip especially to those fresh
    to the blogosphere. Simple but very accurate information… Thank you
    for sharing this one. A must read article!

  24. I enjoy what you guys are up too. This sort of clever work and
    exposure! Keep up the terrific works guys I’ve incorporated you guys to my personal blogroll.

  25. Maybelle says:

    whoah this weblog is fantastic i really like studying your
    posts. Keep up the good work! You realize, many people are hunting round for this information, you can help
    them greatly.

  26. Anglea says:

    Great blog here! Also your web site loads up very fast!
    What host are you using? Can I get your affiliate link to your host?
    I wish my web site loaded up as quickly as yours lol

  27. Taren says:

    Hello There. I found your blog using msn. This is a really well written article.
    I will make sure to bookmark it and come back to read
    more of your useful info. Thanks for the post.
    I will definitely return.

  28. Hugo says:

    I read this article completely concerning the comparison of most
    up-to-date and earlier technologies, it’s remarkable
    article.

  29. Someone necessarily lend a hand to make severely posts I might state.
    That is the first time I frequented your web page and to this point?
    I surprised with the analysis you made to make this particular put up incredible.

    Great job!

  30. here are some links to internet sites that we link to since we believe they’re really worth visiting

  31. the time to read or pay a visit to the content or web-sites we’ve linked to below the

  32. What’s up to all, how is everything, I think every one is getting more from this web site, and your views are good designed for new
    viewers.

  33. Chauncey says:

    My relatives always say that I am killing my time here at web,
    but I know I am getting experience every day by reading thes good articles.

  34. the time to study or stop by the content material or web sites we have linked to beneath the

Leave a Reply