Morning Folks!!
Such a cop out! "If we don't sell the domain we will develop it". Get real! Slapping some crap on a domain is not developing a business. A business needs product or information. A business needs a cash register. I don't think some know the difference.
Ricksblog.com is developed, but it's far from a business. HallofShame.com is developed, but that too is far from a business. On the other hand, Francois's Domaining.com IS a business. He sells things. He has a cash register. He takes in money. He has customers.
Point is developing is for feeling good or a cop out for buying a questionable and possibly worthless domain name. But it's something that really goes nowhere. It's not a business with a full circle idea that results in PROFIT. It's closer to art. A business needs a way to pay you and that happens with a cash register. Maybe it's time to start with the cash register and work backwards. Not the first time I have brought this up.
But how many of us have pissed away money on silly mini-sites and other "Development" that resulted with no results? A business starts with an idea, a product or service and a way to pay.
But be careful with opening a business. Many folks create work but don't create a profit and have a formula that will never allow them to make a profit. Sorry, but profit is the only way you stay in business and any fool can create work.
Personally, I don't want to be in a business again where I have to ship product, have inventory or fulfill orders. I like selling and shipping information. Cost is low and everything can be fully automated with little to no customer service.
The curse of domainers is many times we have too many good domains. Too many shiny objects that we actually own. But it's hard to focus and pick just one. When I started, I always believed there was a time to collect domains as fast as you can, and I did, and a time to sort them out and decide which ones could run the most profitable businesses or to focus on just one domain. I have yet to get to the last step!
But when I look to the "Next BIG Thing", it seems to always start with a domain name.
Rick Schwartz
Francois
Smart advice and more when is mich more hard to sell a domain when there is a site above.
Rick Schwartz
I have found out the same thing.
I lease out Luv.com. It’s not a good site but they pay the rent for years.
I seldom if ever get an interest since they see a site is up.
So while folks think a mini-site or even a full site helps, it’s likely the opposite.
Francois
And if it was not enough, when you have a site above and you succeed to have a lead then people want to buy it for the site value (traffic, link popularity, income, …) not for the domain value, even for premium domains.
Mark Thorpe
I agree, you need to be all in on developing a website for a domain name. If not, just park the domain.
Pablo
Developing a domain and hoping it turns into a business, simply because the domain is there, is not the way to go. I can’t imagine doing that.
I have sites for offline businesses and got the domains and development work done after the businesses were registered. As the years went by upgraded to better domains and redesigned the sites every 2-3 years- which I still do till this day.
If there are domains which were always marked as inventory, and which would be a great fit for a new business- then sure I would use such a domain, but if not, I wouldn’t waste my time/energy on mini-sites or developing domains hoping it’ll magically turn into profitable business.
Green Jobs
Currently working on building out a great domain name into a business, not just to develop. :)
Rashed
You will be lost along the way if you are not a programmer or/and designer. Also, choosing the right team is the hardest part of establishing a business.
Larry Scott
I whole heartedly disagree. You can develop a website and make money off of affiliate marketing or with an advertisement platform like Adsense. You are making money and putting your domain to good use but its not necessarily a business because you earn money. On the other hand if you have a full fledge content business like Carwale making thousands per day with Adsense, then yeah its a business. Your website should be making money regardless. Whether you say you develop a websites or have a website business, its potato, patato, who cares? The end game is to make money or whatever purpose you registered the domain for. As a passionate website developer and website business owner myself, I would encourage each individual to make their own personal decision whether to develop a website or start a business. One dimensional way of thinking is not good.
Larry Scott
Dumb.com is an example of a developed website, thats earning around $1,000 a month (i believe) and is not a business. I don’t think anyone would argue against an extra grand a month.