How does a domain investor grow his business? The biggest challenge facing many domain investors is branching out once success is found in the business of buying a selling names for a profit. This is especially difficult if the person has a good business acumen but lacks the technical know how to develop his domain names.
I have had the good fortune of being involved with some nice domain sales. I also have the good fortune of owning some top quality domain names (such as Devices.com, FlightDiscounts.com, and a recent acquisition that will be published next week). The biggest challenge I am facing right now is growing this from a hobby into a business.
In my opinion, there is still time left to buy good domain names at reasonable prices and make money selling them for a profit. Eventually, this market will dry up, and it will be difficult to be successful with this as the primary business plan.
I believe that the best way to grow my company is by developing some of the gems I own. Building an actual business is the key to development (as Darren Cleveland posted on Sahar’s Blog). Instead of using our domain names as parking lots, we are going to have to start building apartment buildings, stores, houses…etc
The challenge will be finding the right partners (web architects, if you will) to help me build some of my parking lots into beautiful virtual businesses. I have my eye on a couple of domain names that I want to buy. I have the business plan in place if I can reach an agreement with the owner. Now, I just need to find the right team.