When it comes time for renewal on my names, in many case it involves a lot of humming and hawing, should I or shouldn't I. The decision to renew really comes down to affordability and sensibility. These are the key factors I look for when it comes time for renewal:
1) Is the domain making money in it's current state? If not, is there good reason to believe it will make money in the future?
2) Do I want to keep the name as part of my collection/portfolio?
3) If this was a fresh registration, is this a name I would register? Am I as excited with this name as I was when I first got it?
4) Would I purchase this name from another seller if it was theirs?
5) Is it worth my time to move this domain elsewhere for a cheaper renewal?
If you answered "yes" to Question 1, it should be a no-brainer. But if your name isn't turning a profit, yet you think it might someday, that really isn;t a valid enough reason to keep the name. I think if you can answer a solid "yes" to at least two more of thos questions, then go ahead, bulk up and renew away.
When you're managing in the hundreds or thousands of names in your collection, it might seem overwhelming to think about criticizing each and every one of your names in this manner. But if you set aside a couple days each month, filter out your expiring domains and focus on renewals, it doesn't have to be so tasking. Scan through the list and factor in your "yes" parameters. There! All done, you're good for another month.
Chances are you already have a system that works, but I wanted to share what I use; it's easy to fall into a trap of just blindly renewing away on a whim. I used to grind myself into a frizzy trying to make the "right" decision. Setting yourself some boundaries can soften the blow.
So what about you? Are there more factors one should consider when deciding to renew? Please feel free to give your thoughts.
- Hotkey
1) Is the domain making money in it's current state? If not, is there good reason to believe it will make money in the future?
2) Do I want to keep the name as part of my collection/portfolio?
3) If this was a fresh registration, is this a name I would register? Am I as excited with this name as I was when I first got it?
4) Would I purchase this name from another seller if it was theirs?
5) Is it worth my time to move this domain elsewhere for a cheaper renewal?
If you answered "yes" to Question 1, it should be a no-brainer. But if your name isn't turning a profit, yet you think it might someday, that really isn;t a valid enough reason to keep the name. I think if you can answer a solid "yes" to at least two more of thos questions, then go ahead, bulk up and renew away.
When you're managing in the hundreds or thousands of names in your collection, it might seem overwhelming to think about criticizing each and every one of your names in this manner. But if you set aside a couple days each month, filter out your expiring domains and focus on renewals, it doesn't have to be so tasking. Scan through the list and factor in your "yes" parameters. There! All done, you're good for another month.
Chances are you already have a system that works, but I wanted to share what I use; it's easy to fall into a trap of just blindly renewing away on a whim. I used to grind myself into a frizzy trying to make the "right" decision. Setting yourself some boundaries can soften the blow.
So what about you? Are there more factors one should consider when deciding to renew? Please feel free to give your thoughts.
- Hotkey
