If you are like many other domain investors, you probably have quite a few domain names with an idea of how to develop each of them – or a thought about what type of website each could become. As mentioned on this blog and on other blogs, development is difficult. If you are strongly thinking about developing (and not just contemplating), I would like to offer a few suggestions to help you decide which name(s) to develop and how to plan it out.
1) Review your portfolio and identify your best domain name – either the category killer name or a great niche name. Determine whether you think this name is worth spending between $5,000 – $100,000+ for a functioning website (depending on how well-functioning you want it). IMO, to spend money to develop a domain name, you either need a great new idea for your website to attract visitors or your domain name is the category killer name that people type-in expecting to find information on the subject. Honestly, if you don’t have either, you probably shouldn’t spend a lot of money developing the name. Don’t fret – just spend the extra money to buy one of these names instead of 500 fresh registrations!
2) Write an outline of how you see the finished product.

Just like professional sports teams allow corporate sponsorships of their stadiums and various elements of the stadium, Lowell.com will have many sections that can be sponsored by businesses in Lowell. By allowing local businesses to sponsor areas of Lowell.com, we are building great unique content while giving added value to visitors of the website.
There are many different areas that can be sponsored. By tailoring this to local business niches, we can generate revenue for Lowell.com while<!–more–> offering valuable brand marketing for the local businesses. These sponsors will be viewed as experts in the area they sponsor, which will help them attract visitors and hopefully convert them to paying customers.
There is more to read about this on the Lowell.com blog, and I hope you will check it out when you get an opportunity.

While I expect the enhanced directory listings, homepage advertising, and affiliate deals will generate the majority of revenue for Lowell.com, it is important to think about ways to generate incremental revenue as well. Using a website like Cafe Press to produce various branded items, I can generate revenue and brand awareness. Whether I end up purchasing the majority of the products or if others decide to buy them as well, this is a great opportunity to encourage people to visit Lowell.com.
On my Lowell.com blog today, I discussed the revenue opportunities of creating an online gift shop, and I also discussed the legal ramifications of using the logo I revealed here not too long ago for commercial purposes. Please check out the Lowell.com blog for the full details.