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A Domain Name is Great… BUT

Having the category defining domain name for your field or industry can put you many steps ahead of your competitors, but in order to have a successful business, you need more than just the domain name. A solid business plan is important for any company who wishes to do business on their category defining domain name.

A prime and relevant example of this was exhibited on DNW yesterday.   In December of 2008, The Parent Company and nine of its subsidiaries, trading on NASDAQ under the quote “KIDS” filed for Chapter 11 bankruptcy. According to DNW, the company owned some category defining and/or premium domain names, including Toys.com, ePregnancy.com, Birthdays.com, Hobbies.com, and eParties.com.   Apparently owning these great domain names wasn’t enough to survive.

A category defining domain name can help enhance a company’s presence online, but it can only do so much.   If a company brings on employees, office space, inventory, technology, debt, and other overhead, they can fail just as any brick and mortar company. There are plenty of brick and mortar businesses in great locations failing every day for a variety of reasons, and a business with a great domain name can succomb to market conditions.

Owning an industry or category defining domain name can make a good business better, but it isn’t a panacea.

Some New Domain Registrations

In the past couple of months, I’ve registered a few “new” domains. Some were expirations and a few were fresh registrations.  

CigarEnthusiasts.com
HeatingOilDelivery.com
Frengles.com (French Bulldog & Beagle Hybrid – I have a Puggle)
DrinkKoozie.com
DrinkKoozies.com
ThreeIn1CreditScore.com
ThreeIn1CreditReport.com
DeepSeaFishingTour.com
TripleCreditWatch.com

Passive Aggressive Approach to Selling Domains

When you attempt to sell a domain name, you are generally in a weaker position than when someone sends you an unsolicited email to buy a domain name. In the first situation, you are trying sell a domain name on your terms, and you need to find a buyer who can meet them. In the second situation, you hold the domain name that someone else wants, and you can choose the terms. This can make a big difference when negotiating.

When you want to sell a domain name, but you would rather not start out in a weak position, I recommend attempting a passive aggressive sales approach. One idea to do this is to reach out to a domain owner who has a similar but different domain name, and ask him if he would sell his domain name. In your email, you should mention that you own XYZ.com and you would like to buy ZYX.com from him.

If you receive a reply to your request, there are generally 4 possible versions:

1) Yes, the price is $
2) Yes, make me an offer
3) I won’t sell XYZ.com, but will you sell ZYX.com?
4) No. I am not interested in selling

You can then make a sales pitch responding to each of these replies.

For the first option, if the price he names is higher than the price at which you would sell your name, you can reply, “That’s a good price, but it’s out of my price range for this name. Would you be interested in buying ZYX.com, a very comparable domain name, for the same price?”

With option two, if you reply with an offer, you should be prepared to buy his domain name if he matches your price. Assuming he says no, like 99.9% of domain owners who would say no to the first offer no matter what, then you can turn around and let him know you would sell yours, a similar name, for that price if he is interested.

For the third option, you have moved into the drivers’ seat, as you are now in a stronger position with him asking you to buy your domain name.

Although the final response isn’t always appreciated, it does show you that the domain owner is alive and answering emails. You could tell him that you had hoped to acquire XYZ.com to enhance the value of your name, ZYX.com, but since he won’t sell, maybe he would be interested in acquiring yours.

I have not sold a domain name in this manner before, but I have had the third option happen to me in the past. I was not inclined to sell the domain name, so I turned down a significant offer for it. Unsolicited domain sales via a variety of methods can be more difficult than fielding inquiries, but that’s how I sell a majority of my domain names. This is one more tool to add to your cache.

Obviously the one caveat is that your name is of equal value or better than the person who you email.

What He Said…

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I am sure most of you read Mike Berkens’ blog, but in case you missed it today, please check it out

Thanks for the Suggestion!

A few weeks ago, Rob Sequin suggested that I install a widget on my blog allowing visitors to subscribe to the comments, allowing them to know when others posted.   This a good way for visitors to track any follow-up comments that they left, since there are so many things going on in the life of the average domain investor.

After upgrading my blog, my developer was able to work out a kink in the subscribe to comments feature, and it should now be working.

Rob – Thanks for the suggestion!

WorkOpportunities.com Now For Sale

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With America’s work situation getting worse, now is a good opportunity to buy a job-related domain name.   I am selling WorkOpportunities.com for $7,800. Of course the name JobOpportunities.com is a better domain name, but I also think that is easily a low to mid 6 figure domain name. People are looking to find work as the unemployment rate creeps higher.   In fact, according to CNN today, unemployment is up in 98% of cities across the US.

Using the Google Adwords Keyword Tool, you can see there are about 60,500 searches per month for “work opportunities” and slightly more than 7x the number of searches for “job opportunities” at 450,000. Pretty good numbers if you ask me, and I priced it under $10,000 to move it even faster.

Additionally, there are 1,840,000 Google results for the exact quoted term “work opportunities.” There are also plenty of advertisers for this phrase as well.

I am going to list this in a couple of other spots, and as always, the first person to tell me they want it will get it.   I don’t think this deal will be around very long before someone grabs it.

One idea for the site is to do build a white label automated job search site, similar to what I did on Lowell.com and Burbank.com.