domain pencil.tv and pencils.tv

[blackjack21]

I have just purchased these 2 domains.

Pencil.tv and Pencils.tv.

As some of you know I am hoping to start an online diy business, which will be financed by the sale of my house (shortly, hopefully).

However, I realise that I am taking the biggest gamble of my life so far in doing this, and if I get this wrong, it will be (bad times for me).

The reason I have purchased other domain names, such as the above 2, is to hedge my bets, in case I have got it wrong with diy etc.

I choose pencils, because there are so many people who use them, particularly the young market.

I did not realise there were so many manufactures out there for pencils.

I did visit a pencil supplier in the “lake district”, many years ago, and I have always liked the concept of a pencil.

I always found the story of the American space programme amusing, when they spent millions of dollars, developing a pen, which could write upside down in space.

The Russians took a pencil up with them. :hehe:

Has any one any views about these 2 names.

All input greatly received.

BJ. :santa:

 

[GoneWalkabout]

I am hoping to start an online diy business, which will be financed by the sale of my house (shortly, hopefully).

NO! PLEASE!

No business should ever be financed from the sale of your home. EVER.

If selling DIY items is what you want to do online, then, yes, I can see the names you have acquired being of use. However, you really don't need the proceeds of a house to get it off the ground.

If a business is to work, it should be able to finance itself immediately.

IDEAS:

site; do a share-scheme with designer OR phase payments of the site 'design and build' over 24 months - so no big hit at the start - AND your designer will ALWAYS take interest in your site working well.

product: affiliate, click-through rather than onsite product OR get good terms with suppliers.

filming: get product makers/suppliers to give you film or pay you to make film of their products

promotion: do NOT advertise, use PR, which just costs your time and creativity.

staff: do not pay anyone unless they bring results

We are most definitely going into a double dip recession but there are still many opportunities for people in the online space. However, now is NOT the time to be selling a home to finance anything.


As for pencil and pencils - they are mostly throw-away prices these days, so I hope you are catering to the specialist or high volume markets with your plans.

 

[DnEbook]

i guess any product can be sold with visual assistance but the above post is pretty close to the mark , baby steps at first , then grow and learn

i once read the best business is the one you can afford , dont sell a house for an online venture , start small and learn as you go and keep the roof over your head ( i am a renter)

 

[mitok]

Uhh, i just noticed at this moment that pencils .tv is not mine any more I was pretty sure that i still own it :D

Anyway, good luck with it.

 

[blackjack21]

Thanks Jimbo for your feedback, and yes you are right, this is not the best move.

However, my situation is rather complicated, and therefore the only way I can think of financing this project is with my own dosh.

I’ll be honest with you, I am not the kind of businessman who can get anyone else to back me, (I’m just not that good with persuasion), and I cannot think how to get this business off the ground without some money somewhere.

I do intend to set up the web site myself, so therefore I should save some money.

As for pencils etc, I thought there might be some demand out there, and I noticed, that pencils.com and pencils.co.uk might be able to give me some advice.

Just slightly off topic, did you know that the Derwent Pencil Company played quite an interesting part in the 2nd world war? (That’s to see if any one can guess what it was?)

I do not want to sell my house Jimbo, but the ball is now rolling, and I have been working on this for the last 8 years, so I guess I have to go for it.

I know what you mean by the double dip, and my timing could not be worse, alas, I have no control over my destiny, and hence roll with the punches.

Thanks again for the feedback and I will keep you all posted.

Thanks Evir as well for your feedback and thanks to you Mitok for letting the domain go, although I am beginning to wonder if I might have put my foot in it again.

Take care all.

BJ :wave:

 

[speedaccu]

Black Jack.... if you decided than go ahead, but DON'T empty your pot. You have planned, but just be a little more cautious.

I had gone through your situation and still having hard time.... all because decision made when desperate.

Anyway, my best wishes for your venture.....and what's life without taking some risk.

Just..... save some for unknown times.

Regards,

MANO

 

[m4c]

Hi,
I can only concur with Jimbo - I can tell you from very painful experience that putting your house up to develop a business is NOT worth the risk - unless you also have a separate, GUARANTEED income coming in from another source that can service any debt you take on.

If I had to sell a house now and had equity I wanted to safeguard, the ONLY thing I'd do with the money for the next 2-3 years would be to buy physical silver / gold!

If the deal is good enough, business people / suitable investors will get involved - if you need to 'persuade' them of the opportunity - then its not right / ready yet...

Do you believe that if you walked into the Dragon's Den - they'd back you? If not, ask yourself why? they've more money than they can ever hope to spend themselves - they're LOOKING to give it to the right person / business, but if they'd say no - ask yourself why!

and 8 years sounds a long time to be working on an online project...

lastly, re: pencil - getting a single word domain to rank in Google when there's 30 million results is a feat in itself, without even considering conversions / sales - if you have the skills to do that great, but you might want a higher value product / return for your effort than a $1 pencil...

alas, I have no control over my destiny, and hence roll with the punches.

- but if you know ahead of time the punch is going to come, it's a really smart move to get out of the way, or take some boxing lessons!

All IMHO

(PM if you want more opinions )

 

[snoop]

As some of you know I am hoping to start an online diy business, which will be financed by the sale of my house (shortly, hopefully).

Sounds like a very bad move. Successful online business typically start with minimal costs, not by selling your house.

 

[blackjack21]

Thanks Speedaccu, for your feedback, and yes I will take care and try to be more cautious.

I quite agree with you “what's life without taking some risk”. Let’s hope my risk pays off.

Thanks M4c for your feedback, this is why I like the online forum’s to see the different views on life and the different approaches people take towards money, health etc.

Gold and Silver sound interesting, and I do follow the “stock markets” as it happens. Do you ever use the ADVFN forums, as they are very interesting, and when a share is in full demand they get people posting every few seconds, so this can be quite exciting. The Ftse 100 forum is a very interesting one to watch.

Anyway back to my venture.

Would The Dragon’s invest with me?

I seriously doubt it.

Would I invest my idea with the Dragons?

I seriously doubt it. (I’m a greedy sod, and like Mr Branson, I like to be 100% owner). Stupid maybe, but I know myself well, and it would never work with anyone else.

As it happens, I did approach “Theo Paphitis” a few months ago, but this was about something totally different to what we have been discussing.

He graciously declined my offer, by the way.

Yes, 8 years is a long time, however, it is amazing what life’s punches can teach you, and however often I think I can see them coming, I never do.

I suppose the “Wisest teacher up there”, always knows what’s coming, and makes us take them on the chin, whether we see them or not.

As for pencil and pencils, yep, that was a strange one for me to buy, although, I am not totally convinced, they all sell for $1.

Hopefully the artists out there can let me know?

Getting a single word domain to rank well, in a sea of 30 million, certainly does challenge me and any so called seo techniques I have learnt.

I will let you know if I manage to do this.

Thanks snoop for your feedback, and yes, I agree, it does sound like a bad move.

However, I am committed now (or should be committed, he,he), so I will still have a go, (that is if the one up there let’s me.)

Just out of interest, does anyone on here know of a successful online business that started with minimal costs and if so, how much money are they making, and what was their start up cost.

Take care everyone and keep up the good work.

BJ :wave: