iI first got into online assets when my friend Mike Awada told me he had bought the domain name newshq.com at auction for $300. I couldn't believe spent that much on a domain name in 2015. You can buy new ones for $8 or even less. He told me he thought it was valuable because it was short and could stand for 'news headquarters.'
Sure enough he sold it for just under $10,000 I believe about a year later.
Fast forward that day to a few years in the future, and I myself own over 300 domain names, and own almost 50 live websites, and plan to launch many more. I've been to the domain name industry conference, NamesCon twice now, and plan to go again in January.
Anyway, here's my strategies I recommend for entrepreneurs investing in online assets. Disclosure: This stuff is really hard guys, expect to not make money off of 90% of your investment, and make sure the other 10% are setup to make up for all of that and more.
1. Do what you're already doing to make money, online.
A personal website is usually a great start to make more money online. Whatever it is that puts food on the table for you now, talking about it online will only help. It will make your job, startup, freelancing, service, or product easier to share or show off to others.
Or, you can simply put an affiliate link of one of your favorite things to buy on Amazon. The possibilities are endless and this is a great way to start if you don't have a clear vision right now.
My website, Book Matt Holmes to Speak, I'm using right now to increase my ability to secure my first paid speaking gig. The website might help me close that deal at $5,000 instead of $3,000 due to the increased credibility.
2. Buy a domain name to park it.
Look on auctions for a previously owned domain. Any domains related to high paying keywords are often able to pay for themselves. I mentioned in my previous blog Domains and Startups, where to start, that I use ParkingCrew.com right now, but parking has slowly declined over the last several years.
3. Build a 'small website' with an website on it.
Let me tell you about this one. I made $450 on the 1st of this month off of fococoncrete.com, and plan to make $800 on the 1st of next month.
-complete site with images, content, and update the SEO meta tags, page title, etc.
-register in directories
-it will start to get phone calls if the competition isn't too high, then call a contractor and offer to send them all of the phone call and email leads for a price :)
Other Examples we have clients paying us for:
-Fort Collins Concrete Contractors
-Pueblo Concrete Contractors
-Boulder Window Tint
4. Spend some dough ($50-300) on a 'brandable.' Flip it.
Check out sides like sedo.com for auctions and it might be hard to find something as low as $300 that is good, but sadly, it's quite likely that you'll not be able to make a profit in your first purchases. Here some of the domains that I sold.
sexysnapchats.com, bought for $8, sold for $500.
maxholmes.com, bought for $8, sold for $1900.
nealholmes.com, bought for $8, sold for $150.
These have been my most popular strategies people are using today. It all makes sense if you think of the domain names as 'land' and the industry as 'real estate.' There's money in land, and there's money in real estate.
I'd like to invite you to join me to the NamesCon Conference on January 28-31, 2018. Or contact us with questions about your online goals here.