Advice

When it comes to domain investing and domain investors, there are quite a few different business models to make money. Each business model requires a different strategy and different tactics that are often divergent. Choosing a strategy or multiple strategies is an important decision to make, and a domain investor’s strategy can change over time.

Some people have small portfolios of exceptional domain names with high prices to match. They may sell infrequently and are content to wait for the ideal buyer. Some people have huge portfolios of names that churn sales regularly. They use the cash flow to grow their portfolio. Some people don’t focus on selling but they monetize their domain names in various ways. Some people have hybrid business models.

A little over ten years ago, I saw that a small business near where I grew up did not have its brand match .com domain name. It had a unique name, so I thought that was strange. A visit to the brand match name showed me why – someone in another country owned the domain name and displayed links in another language.

Since this local business is definitely the only company in the world with this particular name, I monitored the domain name via GoDaddy. Within a couple of years, the domain name expired and deleted. Because I grew up shopping at this business and appreciate what they do I backordered the domain name and won it.

Making money is the most important driver in a domain investment business. It is, after all, a business for most people. When I accomplish something special – like closing a big deal – I like to celebrate it. Making money is the goal, but doing something small to reward myself for an achievement is important.

No matter how great the achievement, I usually do something relatively small as a way of celebrating. I might open a nice bottle of wine with my wife or go out to a special dinner. When I achieve a more notable accomplishment, I might buy something to mark the occasion. I am not really a flashy person, so it might be a purchase I’ve put off for a while.