(image source)
Following on part I, Why Domaining Sucks, here’s a general list of why I also believe Domaining rocks:
1. Extremely cheap barrier to entry
With registration fees at approximately 7$ per domain name not many can say they cannot afford to get in the domain game. Back in 2000 we stumbled on an expired domain, one that no one really wanted. It sounded OK to us and as we bought many, we decided to spend 12$ back then and purchase it as well. Since then this one domain has made over 1 millions US$ in PPC revenues, and is still going strong.
2. Residual income
Unlike traditional jobs where one gets paid by the hour, our work lasts longer. If you found a domain that gets type-in traffic you are most likely to reap the rewards for as long as it receives traffic.
3. We can do our work from anywhere
All that is required is a computer and an internet connection. Hack, you don’t really need your own computer, many cybercafes/public libraries will do.
4. Knowledge is everywhere, and mostly, for free
While I cannot include all (apologies in advance!), here is a quick rundown of free popular forums, groups, blogs, and publications in the domain space: NamePros, DomainState, DN Forum, groups such as Geo Domainer, Synergy Domain Club, Facebook Domain Name Network, blogs such as The Domains, Domain Name Wire (my new favorite domain publication), Domain Name News, Michael Gilmour’s blog, DNXpert, Dot Weekly, publications such as Modern Domainer, DN Journal, and of course this list could not be even remotely complete without an honorable mention of Francois’ Domaining.com.
5. We’re open for business 24/7
Self explanatory. In addition, we have very little overhead as most of the work, once a domain has been acquired and set correctly is automatic and falls on parking providers or affiliate partners, rather than us.
6. Businesses want what we have
The basis of commerce is when one wants what you have and is willing and able to trade something for it. Sorting through the tens (and sometimes hundreds) of offers we receive unsolicitedly daily I am certain that if you own the right domain name, prospects, while mostly not offering the value which you want, do recognize some value in them.
7. The internet is growing, and relatively, our core business is as well
Since all generic domain names are essentially search keywords with the additional extension, as consumers continue to search more frequently, relatively speaking, type-ins and the value of traffic, as more businesses compete for it, will increase.
8. We’re in a business comparable to Natural Resources
People may like or hate the domain industry but as long as domain names produce potent traffic which is responsible for sales and branding, it is here to stay.
9. We’re constantly learning
In many instances while going over domain lists or browsing auction sites such as Sedo, Afternic, or SnapNames, while at times some terms received significant bids I still did not know what they meant, why they are important to many. It is the need to understand their values which is responsible for constant learning experience. A place I have never heard of before, a fruit which grows in the Amazon, and even a foreign language. All thanks to domain names.
10. As in the previous post, would love to hear your thoughts on this as well as additional points.
Have a great weekend!
Sahar
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Nice post but I wish you keep this to ourselves.
Heck, we have to be selfish sometimes.
Am not showing you where the goldmines are…..do you?
BullS Depends on where you are in the cycle. If you are down in the mineshaft still mining, you want to keep the big secret. If you are selling the gold or the actual mine you want EVERYONE to know where it is. Everyone comes to a point in time where they want everyone else to know the secret because the increase in demand increases prices and there’s nothing better than increased prices when you are selling.
Great article! I need to post this link up today on my blog, lol.
10)
No one really understands what exactly we do online and “why” we make money with advertisements.
Secrecy is the best, and when trying to pick up a chick, you can make domaining sound like rocket science. Can’t wait for those Christmas parties!
Targeted keyword domains present tremendous opportunities….in the right hands. All of the potential that exists is just waiting to be unleased……in the right hands.
Domainers unfortunately currently aren’t able to make the most of the “natural” resources available. It takes a lot of time and effort and many investments over and over again in order to establish a profitable business.
A travel domain earning $1,000 or $5,000 per month from clicked ads is great as it requires no work but why not take 15 minutes of your time and set it up with http://www.hotels.com for example via commission junction (cj.com) and get 5% off each booking… A few month’s down the road you will see that you are earning 2x or 5x or even 10x more. Why not take even more of your time and develop a custom whitelabel site and get repeat visitors… Why not even promote it and re-invest back in your business…?
So many opportunities… So little time..
Ahhh.. Madness!
Best,
Mike
http://www.wannadevelop.com
Sorry, can’t tell you the secrets.
wannadevelop—agree with you, developed site is the best strategy so the public knows what it looks like.
My developed sites earn 20x more than parking and more offers to sell.
What I do for a living?
A part time McDonald cashier but drives a convertible BMW to drive thru.
Coke or domains…Sir!
@BullS - competition is good in long term, so let other hear about domaining
There’s plenty of opportunities for everyone.
Here are a few more I could think of:
10. You can work from anywhere in the world with an Internet connection.
11. Cheap barrier to entry true but also cheap operating costs as well. You don’t need expensive software or equipment to operate the business, and take courses to learn to use them.
12. You can grow your business at your own pace. You can start with a few domains, and grow at a pace you can handle.
13. Anyone else?
Yes, I like to sell the gold but not telling them where the goldmines are.
#13:
Domain is cheap to register, hosting is cheap or free, content can be bought or stolen and web designers can be hired real cheap, wifi is free so is the use of PC(at library). wifi is free too from neighbors!!
Thank You my desperate Housewives neighbors.
All you need is……….CREATIVITY!!!
As you can see, I love domain names that are funky, catchy and easy to remember and best of all, everyday normal common usage of the words.
I loveeeeeeeeeee Domains!!! and
One domain name can make you RICH!!domains can buy sex/food and fun.
Hey Sahar,
Can you please open a new post to discuss this topic…I hope it is exciting enough for all of us.
Internet/Domain is such a new thing, maybe 7-9 yrs old and still in an infancy age just like a kid with high testosterone
What the future like in 3 yrs, 5 yrs or 10yrs…
All I know is it is getting stronger very second.
What your thoughts?
thanks
.
Very Nice articles.
When I started in this industry last year wasn’t knowing which name will worth and how do i able to get good one.
But now i m fully satisfied with my huge almost 1000 names portfolio.
Our portfolio lies here http://www.adomaindeal.com/portfolio and http://www.dotasiadeal.com
We are getting almost many offers in month for some of our good names which will cover cost of whole big portfolio.
Many names are gold mine with ebay and amazon traffics.
The very fact that there are only so many letters in the alphabet and you can actually lease and control these letter combinations is a historic first.
Being involved in this business allows you to create your own niche or brand. Early in the evolution of our business the single word domains caught the most attention. Lately more defined or branded two to three word combinations are moving to the front of the class.
The potential for success in this business still remains, regardless of what you may be hearing from the so called experts. The greatest opportunities lie in the .com extension, for obvious reasons. If you are going to create, create in the extension that people will actually visit.
Sahar’s Blogs Rock! A positive outlook always helps in whatever one is pursuing.
Nice Post.
I’m using http://DomainTyper.com for finding the right domain name, and it’s working very well for me. Nice and easy.