Several years ago, a friend of mine shared a website that he built based on a particular type of geographic + keyword domain name. I thought it looked like it would be a money maker because of the slick design and what I saw of the monetization, and I went out and inquired about a few domain names that I thought I could use in order to replicate what he was doing in a different market.
To make a short story short, I never got around to figuring out how his website works, and I never made any money with the 2 domain names I bought. They weren’t large investments, but they weren’t really valuable undeveloped.
Sometimes a project looks easy to replicate, but in reality, there were countless hours spent developing the engine that operates the website. Additionally, there are deals that need to be cut with advertisers and affiliate companies, and that doesn’t even include the time it takes to find those potential partners in the first place. Just because it seems like it would be easy to replicate the success of someone else does not mean that it will be easy for you for a variety of reasons.
Ultimately, this is not just some advice about development or building a business based on a success story you’ve read about. This can be related to any type of investment you make. Even if someone you know has done well with a particular investment, it doesn’t mean you are going to have the same level of success. Behind most success stories are countless failures and hours of work that may be unknown when the finished product is revealed.
Whether you are buying a domain name, starting a business, buying in stock or real estate, or doing some other type of investment because you saw someone else doing it, you should think twice and look at all aspects. What works for me may not work for you. Heck, what works for me (DogWalker.com) may not even work for me again when I tried to replicate it (DogGroomers.com)!
What triggered this thought was an email I received regarding a domain name I inquired about when I was interested in building a website in that geographic + keyword niche. Thankfully, I didn’t buy that domain name, too.