The barrier to entry for domainers is nil to zero–great if you’re low on funds but bad because the competition is stiff. In a market where Fund.com sold for $9,999,950, iReport.com for $750,000 and even 248.com for $175,000, you can see why so many people are viewing this as the latest gold rush.
“You can definitely do it part time, and, in fact, I think that’s the best way to start,” Jackson says. “This business is open to people from all financial backgrounds. A domain costs less than $10 most places, so you can start with very little. Those who already have a lot of money can afford to buy more attractive assets right away, but others can certainly build up to the major player level. Over the years, I’ve seen many people become millionaires.”
To just leap in is to risk wasting your money and time, however. Much research is required if you’re going to be successful.
In order to increase the values of domains the domain industry should constantly target new players, new money. This article, in a prominent Entrepreneurial magazine, is in the right place, the right time, interviewing the right people, and is quite easy to grasp for the small business owner.
Nice post there - straight to the point.
Good one Ron Jackson.
Thanks Sahar
Positive Mindset Long Term goals = SUCCESS
Agree that it’s great for our industry generally; though it would have been nice for the author to include information from end users who happily paid $10k-$1,000,000 to own the best .coms; which they then built into successful enterprises.
Now that would have really demonstrated to their well-targeted readership the value in buying/investing in aftermarket domains…