- Impact
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“A sale of a domain name with dot ORG extension was all I need to get suck in into domain purchase and sell” said Elie founder of Naming Journal.
“In 1998, I registered a domain name with a dot ORG extension. I leased the domain to a faith-based organization that I started. I cannot disclose the domain name or the name of the name of the organization that purchased the domain name; however, the following is how I met the buyer. I wrote a standard introduction letter and sent it via email to 20 prospective buyers (nonprofit and faith-based organizations). In the letter, I told the prospect that their current domain names did not reflect their organization objectives. Moreover, I used the letter to introduce them to the domain name I was selling. For close to four weeks I did not hear from these prospects. Suddenly, I got a response from a prospect. The prospect sent me an offer that was ridiculous. I responded to his email and respectful decline his offer. There was a three weeks silence between the first and the second email. Then I got a second email with an offer that was still below my asking price. To cut the story shot, the prospect finally send me an offer that was good (I cannot disclose the amount due to the term of the sell), but I can assure you it was in the thousands.”
You have heard people say, “All the good names have been taken.” In my own opinion, the domain squatters are partially to blame for the shortage of good domain names. Domain squatter (DS) usually buy domain name in buck, speculate and them resale the domain for few bucks. The sad part to this whole ordeal is that if you happen to buy the domain name recently dropped by the squatter you will soon discover that it is going to take time for you to bring the domain name back to life as a different product (cooling off period).
Speculative Domain Investors
More than 85% of all Americans ask the advice of friends and family when shopping for services. However, when it comes to information about domain names people rely on bloggers, DN forum and domain auction websites. Domain squatters frequent this place either to speculate or take advantage of trends.
Prudent Domain Investors
However, the good news is that you can still find good domain names if you work smart. Like in the financial market, smart investor never bet the bank on a single sector/stock. Never should a prudent domain investor invest in speculative names. Instead, they diversified portfolio by investing in domain names that are local, national, and international especially in emerging markets like India, China, EU, etc.
The truth is the more domains you have in your portfolio the less time you will have for each purchase. However, if you make few domain purchases and take the time to develop each into a brand, well you know the rest of the story. What you have is a valuable and powerful brand.
These are my thoughts. Please share yours.
Source: Elie Eweka – www.NamingJournal.com
“In 1998, I registered a domain name with a dot ORG extension. I leased the domain to a faith-based organization that I started. I cannot disclose the domain name or the name of the name of the organization that purchased the domain name; however, the following is how I met the buyer. I wrote a standard introduction letter and sent it via email to 20 prospective buyers (nonprofit and faith-based organizations). In the letter, I told the prospect that their current domain names did not reflect their organization objectives. Moreover, I used the letter to introduce them to the domain name I was selling. For close to four weeks I did not hear from these prospects. Suddenly, I got a response from a prospect. The prospect sent me an offer that was ridiculous. I responded to his email and respectful decline his offer. There was a three weeks silence between the first and the second email. Then I got a second email with an offer that was still below my asking price. To cut the story shot, the prospect finally send me an offer that was good (I cannot disclose the amount due to the term of the sell), but I can assure you it was in the thousands.”
You have heard people say, “All the good names have been taken.” In my own opinion, the domain squatters are partially to blame for the shortage of good domain names. Domain squatter (DS) usually buy domain name in buck, speculate and them resale the domain for few bucks. The sad part to this whole ordeal is that if you happen to buy the domain name recently dropped by the squatter you will soon discover that it is going to take time for you to bring the domain name back to life as a different product (cooling off period).
Speculative Domain Investors
More than 85% of all Americans ask the advice of friends and family when shopping for services. However, when it comes to information about domain names people rely on bloggers, DN forum and domain auction websites. Domain squatters frequent this place either to speculate or take advantage of trends.
Prudent Domain Investors
However, the good news is that you can still find good domain names if you work smart. Like in the financial market, smart investor never bet the bank on a single sector/stock. Never should a prudent domain investor invest in speculative names. Instead, they diversified portfolio by investing in domain names that are local, national, and international especially in emerging markets like India, China, EU, etc.
The truth is the more domains you have in your portfolio the less time you will have for each purchase. However, if you make few domain purchases and take the time to develop each into a brand, well you know the rest of the story. What you have is a valuable and powerful brand.
These are my thoughts. Please share yours.
Source: Elie Eweka – www.NamingJournal.com
