discuss Domain Microfinance Program

[Rob Monster]

As some folks here know, I am a big fan of Digital Empowerment projects that scale.

Over the last year, I have seen lives transformed by people becoming successful domain investors on a bootstrap.

I have been discussing with a few folks about introducing a Domain Microfinance program for emerging economies and for young entrepreneurs.

This could be a Digital Empowerment strategy for helping people to bootstrap domain portfolios. The idea was inspired by a discussion with a young Angolan.

The idea is this:

- People apply to get a microfinance grant. To get the grant, they have to verify their identity. This is done in order to prevent repeat applicants.

- Domains registered are limited to .com. With a budget of as little as $30, right now that is about 5 .com domains at a promo rate of just $5.49.

- The domains are powered by an SSL powered landing pages which domain owners can optimize and then use to sell or lease.

- Once the grant participants generate a certain level of sales or leases, e.g. $100, they can request an interest-free domain loan based on their portfolio.

 

[oldtimer]

I wonder if any of the Elites in the domain Industry are willing to donate any domains or time and resources toward this cause.

 

[Rob Monster]

"Would you like to be a domainer? (Yes/No)"






Just kidding...

Good start -- keep 'em coming!

Here is my initial input for the intake questionnaire in terms of questions with form validation:



Introduction

The domain industry is an exciting part of the digital economy. At Epik, we are excited to introduce more people to the various ways to learn how to become a successful domain investor. If you are accepted into this Digital Empowerment program, we'll even help you get started with a grant. Once you have had some initial success, we will be pleased to extend the possibility of securing an interest-free domain loan for investing in .COM domains, the leading domain registry of the world.


Page 1

Email address

Name

Country

Birth date

Twitter handle: <field validate>

LinkedIn handle: <field validate>

Facebook handle: <field validate>


Page 2

How long have you been investing in domains? <1 to 10+ years>

How many domains do you own currently? <number up to 100,000>

Have you ever sold a domain name? <drop down from 0 to 10+>

Page 3

How large a grant are you seeking? <number up to $5000>

If you were to become wildly successful as a domain investor, what would you do with your wealth? <textbox>


Page 4

Are there any additional comments you wish to add about why you believe you can be effective as a domain investor? <textbox>


Run automated eligibility script to detect if eligible:

- MaxMind check
- Speed check to detect implausibly fast completion time


Page 5

If not eligible:

Thank you for application. Unfortunately, we are not able to accept your application at this time.

If eligible:

The last step is to complete Identity Validation. Please look in your email for instructions.



###

 

[SuperBrander]

I too think that DNAcademy should be the way to do this, rather than give people money (unless the money is the second part of the process). People who don't speak/read English well mostly suck at domaining. One look at the % of horrendous domains listed in the 'Buy Domains' section is evidence to that. So many domains demonstrating terrible grammar, zero understanding of what's considered commercial etc. If Epik would finance DNAcademy for people in order to give them a shot in life, that would really be the equivalent of teaching a hungry man how to fish instead of giving him a fish. Once a person's commitment and knowledge are established (with a test or using some other method), then Epik could give people some money to experiment with. Without an initial training period, it would just be money down the drain 99.99% of the time, IMO. Even after DNAcademy, most people will likely fail

 

[Kassey Lee]

should be possible to do well, by doing good, and to do good by doing well

Well said. I do it regularly and it adds meaning and fun to domain investing. I often find domains at the garbage dumps that I don't need but are perfect match for a church, a club, etc, I just send them a LinkedIn message to let them know. My latest one is the name of an American actress (not big name).

I wonder if any of the Elites in the domain Industry are willing to donate any domains

Do some investors simply drop their expiring domains instead of selling them on NP for xx when considering the time and effort involved? I do. If there is a way to easily push the domains to Epik, then we can donate unwanted expiring domains to Epik whose team can select those with potential.

 

[Blitzpotz]

When this thread opened I voted losing your butt in an impulse thinking of Epik and Rob. What are they able to add to their working days?

Widening the horizon such a program is without alternative if you think beyond domains but think of development aid. In Europe we read daily reports about African refugees - Rob initially spoke about African entrepreneurs - who are drowning in the Mediterranean Sea on their way to Europe. These guys migrate because they don´t see a chance to exist humanely in their homeland, of infinite reasons.

Every additional chance for these people in the Third World to survive in their homeland is absolutely to support.

 

[Rob Monster]

When this thread opened I voted losing your butt in an impulse thinking of Epik and Rob. What are they able to add to their working days?

Widening the horizon such a program is without alternative if you think beyond domains but think of development aid. In Europe we read daily reports about African refugees - Rob initially spoke about African entrepreneurs - who are drowning in the Mediterranean Sea on their way to Europe. These guys migrate because they don´t see a chance to exist humanely in their homeland, of infinite reasons.

Every additional chance for these people in the Third World to survive in their homeland is absolutely to support.

Digital Empowerment is the most cost effective economic development engine I can imagine. I think helping folks to buy and sell domains is a fine starting point, but ultimately it extends to the full stack of tools that these folks will need to compete in the Digital Age. I believe Epik can help there but I have no illusions of grandeur there. There are many people doing amazing things these days. We all can do our part.

As for my work capacity, no worries there, I am keeping up fine. I lived in Europe for 5 years so I do get that it is hard to imagine that people can get this much done and still have fun doing it. Trust me, I am having a blast, have high energy, and a clear mind. There is a theme and connecting thread to these projects. It may not be obvious yet, but let's see how it unfolds.

 

[Rob Monster]

Well said. I do it regularly and it adds meaning and fun to domain investing. I often find domains at the garbage dumps that I don't need but are perfect match for a church, a club, etc, I just send them a LinkedIn message to let them know. My latest one is the name of an American actress (not big name).

Do some investors simply drop their expiring domains instead of selling them on NP for xx when considering the time and effort involved? I do. If there is a way to easily push the domains to Epik, then we can donate unwanted expiring domains to Epik whose team can select those with potential.

Domains are a great way to make new friends. Celeb domains are a good example and worth owning just for that reason, even if you make nothing. I had an inquiry today for DonCheadle.com from a guy who claims to be Don Cheadle the actor. If so, great. Let's see if he calls.

A for donating domains, it is a great question. I think that is where a non-profit needs to be set up to basically allow folks to paste in a list of domains with auth codes, and get a valuation on the domains that are taken, and then it generates a valid non-profit tax receipt. We need a non-profit lawyer for that one.

 

[Blitzpotz]

Do some investors simply drop their expiring domains instead of selling them on NP for xx when considering the time and effort involved? I do. If there is a way to easily push the domains to Epik, then we can donate unwanted expiring domains to Epik whose team can select those with potential.

I would take part with my expiring names listed in my signature, adding. I don´t list these just to earn 10 or 15 or 25 bucks when members discover names with value for them. It´s a community thing and makes me feel better if a name doesn´t drop into Nirvana but in a member´s name bucket. However, I am aware that the big majority of expiring names of a faithful domain collector like me is worthless.

For newbies in a Domain Name Development Aid Project there should be a filter deleting the real crap from such donation lists. The aim should should be to enable new namepreneurs in the Third World starting with a quite good domain as their seed capital.

 

[oldtimer]

Page 3

How large a grant are you seeking? <number up to $5000>

If you were to become wildly successful as a domain investor, what would you do with your wealth? <textbox>

Rob how many people are you considering to help with these grants, it might add up to be a huge sum if there are 100 or more participants in the program. But if you gave them access to a pool of donated domains that have been refined by you to make sure that they have potential for resale then it would be in effect the end-users who are going to provide the grants once they buy a domain and there wouldn't be any financial burden on you and that can also make the program more self sustaining so that it can continue longer.

Also as far as asking what they are going to do if they became successful perhaps you should ask for a pledge as to how they are going to empower others in their community with their new found knowledge and wealth. IMO

PS: people should not donate their worse expiring domains that have no potential for resale, they should donate domains that can give the participants a reasonable chance for making a sale (and it doesn't hurt to renew them before donating them either), if everyone donates just 5 domains that have good potentials it's probably better than sending hundreds of domains that you didn't want to renew and that might be worthless.

IMO

 

[Rob Monster]

I would take part with my expiring names listed in my signature, adding. I don´t list these just to earn 10 or 15 or 25 bucks when members discover names with value for them. It´s a community thing and makes me feel better if a name doesn´t drop into Nirvana but in a member´s name bucket. However, I am aware that the big majority of expiring names of a faithful domain collector like me is worthless.

For newbies in a Domain Name Development Aid Project there should be a filter deleting the real crap from such donation lists. The aim should should be to enable new namepreneurs in the Third World starting with a quite good domain as their seed capital.

Well, I took @Blitzpotz on his offer. I went to buy one of his domains, but he donated it instead. More here:

https://www.namepros.com/threads/fi...r-less-per-domain.1151475/page-2#post-7403766

Also, my friend Nathan Schneider reached out. He is connecting me to an attorney that specializes in coops and non-profits. We'll see if we can get a proper entity in place for tax-deductible donations of domains.

 

[bmugford]

Domains are a great way to make new friends. Celeb domains are a good example and worth owning just for that reason, even if you make nothing. I had an inquiry today for DonCheadle.com from a guy who claims to be Don Cheadle the actor. If so, great. Let's see if he calls.

Squatting on celebrity domains = great way to make new friends.

That is some awful advice, especially from someone who operates a registrar.

Brad

 

[Rob Monster]

Squatting on celebrity domains = great way to make new friends.

That is some awful advice, especially from someone who operates a registrar.

Brad

Domain Stewardship is not the same as Domain Squatting. Case closed.

 

[bmugford]

Domain Stewardship is not the same as Domain Squatting. Case closed.

Cool. Good luck with that pathetic defense when it comes to a UDRP or lawsuit.

I can't believe someone who wants to be taken seriously in this field is endorsing squatting on celebrity domains.

Brad

 

[Rob Monster]

Cool. Good luck with that pathetic defense when it comes to a UDRP or lawsuit.

Brad

With me, it never comes to that. Why? Because I would hand over the domain. I have met some nice people in Hollywood simply by connecting the dots. And, by the way, you are off topic. Start your own thread.

 

[bmugford]

With me, it never comes to that. Why? Because I would hand over the domain. I have met some nice people in Hollywood simply by connecting the dots. And, by the way, you are off topic. Start your own thread.

I am off topic by responding to a comment you made in this thread...Sure.

Brad

 

[Rob Monster]

I am off topic by responding to a comment you made in this thread...Sure.

Brad

Ok, you win, let's go there.

If some guy in Nigeria picks up a .COM that is the name Balewa.com, which happens to be the last name of the first Prime Minister of Nigeria, is he squatting? I say no. Could he do someone a solid by handing over the domain to the PM and perhaps scoring a meeting. I say yes, very possibly.

How about the Nigerian singer, who calls himself Davido? 145 million views on this one:

You have a problem with a Nigerian guy picking up the domain name Davido.com? I don't.

 

[bmugford]

Ok, you win, let's go there.

If some guy in Nigeria picks up a .COM that is the name Balewa.com, which happens to be the last name of the Prime Minister of Nigeria, is he squatting? I say no. Could he do someone a solid by handing over the domain to the PM and perhaps scoring a meeting. I say yes, very possibly.

How about the Nigerian singer, who calls himself Davido? 145 million views on this one:

You have a problem with a Nigerian guy picking up the domain name Davido.com? I don't.

The example you gave, Don Cheadle is clear squatting IMO. He is a well known actor, that you are clearly aware of, with an obscure name. The domain only exists because of that actor.

From the website HowManyOfMe.com -
There is 1 person with the name Don Cheadle in the U.S.A.

I can't see any legitimate defense to owning a domain like that.

You would have more of an argument if the name was not so obscure and shared by thousands of people like Bill Smith or something similar.

As far as other examples. They would need to be looked at on their own merits.

I am pretty sure Davido.com or DavidO.com would have been registered for many years with our without a Nigerian singer. There are clearly almost endless end users for a domain like that compared to DonCheadle.com.

Brad

 

[Rob Monster]

The example you gave, Don Cheadle is clear squatting IMO. He is a well known actor, that you are clearly aware of, with an obscure name. The domain only exists because of that actor.

From the website HowManyOfMe.com -
There is 1 person with the name Don Cheadle in the U.S.A.

I can't see any legitimate defense to owning a domain like that.

You would have more of an argument if the name was not so obscure and shared by thousands of people like Bill Smith or something similar.

As far as other examples. They would need to be looked at on their own merits.

I am pretty sure Davido.com or DavidO.com would have been registered for many years with our without a Nigerian singer. There are clearly almost endless end users for a domain like that compared to DonCheadle.com.

Brad

If Don Cheadle himself shows up, the domain is his for free. Hasn't happened yet.

By the way, that is a very nice tool:

http://howmanyofme.com/

Dropcatchers like @Gube should take note of this tool.

Unfortunately it only seems to work for the US. I am surprised there are only 122 Monsters in the USA....

 

[Samer]

If Don Cheadle himself shows up, the domain is his for free. Hasn't happened yet.

By the way, that is a very nice tool:

http://howmanyofme.com/

Dropcatchers like @Gube should take note of this tool.

Unfortunately it only seems to work for the US. I am surprised there are only 122 Monsters in the USA....

Show attachment 129605

Seriously love this. Thank you. I didnt know it existed
On a side note, Rob, This is my favorite project.
Sorry, TrustRatings. More Looking forward to this

 

[oldtimer]

the premise of vetting and teaching as being critical is 100% valid and duly noted.

Rob, as far as teaching and training goes, you yourself can write a crash course on domaining (with some help and input from the more experienced members here) to get the participants started on the right track, remember that they don't all have to become experts on day one just teach them the basics and give them a little time to learn the rest, as we all know somethings they can only learn once they start to interact with other domainers here and only after they have done a few sales on their own. Perhaps NamePros can make a special section for this project so that participants can ask questions and interact with some volunteer experienced domainers. As some of the more talented participants become more experienced you can use them to supervise and guide the rest. As I have mentioned before it's very important to make the program as self sustainable as possible both as far as education, finances, and supervision so that way the program can continue indefinitely as new participants join in in the future.

As far as vetting the applicants goes, as already mentioned you want to give first priority to honest, smart, motivated, and productive people who have a better chance of succeeding so that way they can help lift others out of poverty in their community, but as a devout Christian as you are lets not forget to also give a second chance to those who might have been caught in a bad situation due to the circumstances and the environment that they had to grow up in, so also give a chance to those who are willing to repent and help them make a fresh start in their life.

IMO