When it comes to development, Rick made a good point yesterday. One of my biggest obstacles when it comes to development is myself. With domain sales down for me, I have been spreading myself thinly in an effort to build revenue generating businesses on my domain names.
- In the last two years, my company has built Lowell.com, Burbank.com, and Newburyport.com into full-fledged businesses, which require frequent updates, client meetings, sales calls, and time devoted to city research.
- I have my domain blog, which I update every day with news, advice, and commentary. This takes a considerable amount of time, but it’s a good outlet to share and learn.
- I am in the process of building out Torah.com into a fully operational website, which will have a whole host of features that one would expect to find on a website of this nature.
- I have a bunch of mini sites, which don’t take a whole lot of time to manage, but they do take some time adding content, testing layouts, researching topics…etc.
- I spend time acquiring good domain names and looking to make deals to sell other domain names.
I find myself going in circles sometimes because it’s not easy to manage all of this. Building businesses takes time and effort, and I am finding myself having less time to do the things I enjoy. There is a fine balance between spending the right amount of time building a solid business and spending too much time getting few things done.
I completely disagree with Rick about his belief regarding search engine traffic, and I can’t understand how his domain names would lose traffic with mini-sites, because one would imagine the type-in traffic would at least stay consistent, however, that’s a topic for another day.
If you are a domain investor, you need to figure out what you want to do with your domain names before you do it, especially if they may be difficult to re-sell quickly. If you are planning to develop them into a business, it might be best to focus on one and make it into the best business possible before you start another project. Staying focused on one project is difficult, especially when you are working alone.
Take it from me, buying and selling great domain names isn’t difficult. Building a business on a domain name is a completely different story, and while I don’t regret any decisions I’ve made, I am finding it much more difficult to gain traction with some of my projects, since I can’t always focus on one project at a time.