The domain name game is filled with a bunch of dorks. “Domainers” talk in a different language. The language used to be like Klingon to me, but i think i’m becoming one of those guys. Blogging is dorky, but domainers might be dorkier. I don’t know what it is, but i feel myself falling in love with domain names. I think the whole idea of it is amazing. Maybe it’s because my background is in real estate. Investing in domain names is like investing in real estate. It’s like flipping houses, except you don’t have to invest large sums of money, or put your credit on the line. I think investing in and developing domain names is a great way to make money online. You have to be careful tho, cause it’s hard for a noob in the domain kingdom. You could end up buying a bunch of useless domain names.
I now have around 200 domain names in my portfolio. I bought a few for around a thousand dollars each, but most were under a hundred dollars. I now realized that around 50% of my domain names are pretty useless. It’s cause i got a little too over zealous. If I invest the time and energy to set up a small site on each domain, i could always pull out my initial investment. So i’m not too bummed about my off purchases. But i wish i did a little more research about investing in domain names. Here’s a brief overview of what not to do.
Recognizing a good domain name seems easy. But it really isn’t. There are a lot of things to consider. First off, you have to think about selling the domain. Who are you going to sell it to? Secondly, you have to see if popular keywords are part of the domain. And lastly, only buy dot coms. I visit a lot of different websites every day. What i notice is that most people have really crappy domain names. Sometimes the keys to success is not spotting the good, it’s about avoiding the bad. Here is a list of why your domain name sucks.
1. It’s your name. I know a lot of you are johnchow wannabes, but come on! Why would anyone other then you want a domain name with your name on it? And don’t be so vain, your name ain’t special.
2. It’s not spelled properly. Remember the first movie Tom Hanks directed? It was called “That thing you do” Anway, there is a scene in the movie where the record producer changes the spelling of their band. They were called “the Oneders.” One ders. But most people were calling them the Oh Nee Ders. It not clever and very corny. And, can’t spell it. That’s why the record producer guy changed it to the proper spelling, “Wonders”
3. It’s got numbers in it. I know that some successful sites have numbers as part of their domain, but you usually want to avoid that. As a general rule, domains with numbers mixed in with letters, are a hard sell. “Payu2blog, money4blogs, 4bloggers, money4u” all of these examples are lame. It looks unprofessional. Scratch that, it looks childish. I don’t want to learn how to make money online when you spell your “to” with the number 2. And it’s too much work to move my middle finger that extra inch. Leave the digits out of your domains guys.
4. It’s too long. Like tech gear, the smaller the domain, the cooler it is. No body wants to carry around a big 1980’s style cell phone. It’s huge. It won’t fit into your pocket. Same thing with domain names. I don’t want to type an essay to get to your site. Keep it short and sweet.
5. It doesn’t give me a clue about your blog. I visited a blog recently that was called (i forget what it was called, but it sounded like) colorberry dot com. I went there expecting a site about design, or colors, or berries. Something that matched the sound of the domain name. But i was surprised to find a right wing, pseudo politico religious blog. It left a very sour taste in my mouth. Set up a domain that matches the content of your site. Don’t buy a domain name like xxxgirl dot com and set up a bible study blog. Or worst the other way around. (actually the first one is worst…i don’t wanna be in a porn mood and find myself reading the book of Solomon)
I could go on and on but i’ll stop here. I hate long posts. Guys, domain names are great investments, but before you make the jump, research a little bit. Hit up the auctions and forums to get a feel of the current state of the domain industry. It may look easy, but it can be really tricky. The difference of one letter in a domain can determine if it will cost $10 or $10,000.