There are three main ways to make money as a domain owner: Development, Traffic and Sales.
What should we all be doing? Everything ” with a concentration on some things.
Buy some, Develop some, Sell some. Be opportunistic. Don’t always look for the brass ring but shoot for the stars”.. Balance.
Take money off the table “.. reinvest most of it in growth.
Selling Traffic? Try and do all of it: CPC, CPA, CPM, CCC, CPL, ” anything.
Selling Domains? Legacy sales portals, human processes, automated processes, auctions, registrar distribution, domain brokers “”try everything, concentrate on what works.
Fabulous have tried almost everything that is available, we innovate to create things which have never been tried, we concentrate on what has been proven to work and be profitable.
Return on Investment (ROI), Risk Aversion, Liability, Legal Issues - think of everything - ignore or gloss over nothing.
Be strategic, buy, sell, develop, move traffic around and auction it off - try everything, do anything, don’t ignore facts, innovate.
Concentrate on what makes money today, take some money off the table and grow your business.
The ying and yang of business is about balance of simultaneous actions and projects which may seem in conflict but are in harmony.
Sell domains - does not mean sell all your domains
Buy domains - does not mean buy at any price
Develop - doesn’t mean that cost is not a consideration
Park - does not mean part everything
Strategy - is not just a buzz word
“”do everything.
Yet another comment well worth a post of its own, by Dan Warner, COO Fabulous.com.
Great post there for domain name owners (use your creative mindset for INOVATION).
Mr. Warner really hits the nail on the head with this one. So many of us get stuck in a rut trying to do only one aspect of this industry when we need to understand that it can all be interrelated.
This is a great quote from Dan Warner. As someone new to the domain industry, understanding the three different approaches makes domaining “less scary” instead of thinking that the only way to make money is parking or flipping domains.
David