I have come to the conclusion that the longer I hold something the more it is going to be worth. Just look at three-letter .com's, .net's, .org's, .us's, and .biz's. There are zero left "out in the wild" to be registered. (Three letter domains I am talking about here, not three-character domains, though all three-character .com's have been registered as well).
These three-letter domains always go for, well, let's just say much more than the registration fee. regardless of the extension.
As the value of good generic names keeps increasing, there is very little reason to sell your domains names at this stage at the game. Yet, people do. You would do well to learn one thing concerning the domain name market very early:
PATIENCE. If you are eager to spend money then there will be sharks salivating and lining up, happy to take it from you. The point is, that you don't want to spend money just to spend it, you need to make sure the buys you are making are quality buys.
However, if you do come to a time and place that you want to sell your domain name, you need to keep a few things in mind.
If you are going to make a business out of domains and you are going to open your own company, you need to make enough to pay any taxes that may be incurred. This is a big area of debate and I'm not a tax expert, so consult your tax adviser.
You obviously need to make enough to cover the original purchase price, but you may also need to factor in other expenses such as renewal fees, how much PayPal, escrow fees (sedo or other escrow company) are going to take from you when you make the domain sale.
Can your domain names make more money if you wait a bit longer for a different person who may want this more?
Is there a big enough market to where other people would be willing to buy this name so they had an "edge" on the competition?
Or are you selling to a "reseller"? (a person just as yourself who is buying the name to hold and resell later).
Is it really the "right" time to sell your domain, if you wait will the product/service/etc become more widely known or will the domain bring in more traffic?
Do you really even "need" to sell or do you just want to? You may need money for other ventures, but if you don't, then what is the point?
Is it an offer that you just cannot refuse?
I have had offers on domain names that I could not refuse before, it's not common but it happens. I had just registered about 20 .us domain names and shortly thereafter someone got a hold of me and offered $500 off the bat for one of them. Considering that I just registered the domain name, and the mere fact that the .us market has really not picked up, it was probably a good decision to sell. I sold him the domain for $500 total. That sale paid for the purchase of the other 19 .us's and also the renewal fee for them along with some money to spare.
In a case like the above, unless what you just registered is a true gem, there is probably no reason to decline the offer. But before you sell make sure a transaction will even be worth your time. If the same guy came to me and said he would have given me $40 for the domain name (and that would be as high as he would go), then there would have been very little reason for me to sell.
Remember, your time is worth money too. However, if you are a "time" person, then these are the types of sales you need to target and you need to target them over and over again until you reach a healthy base with domain name parking revenue. Once you become a "money" person, these types of things are not worth your time at all in the slightest. Remember, you want to become a money person as soon as possible.
So if you decide to keep your domain names or not which is completely up to you. Just be sure to make a well thought out decision.
If there is one thing that can make or can break an online business, it's the domain name. That little www.YOURWEBSITE.com name is going to help guide customer to you and to your business, but only if you spend some time thinking about the perfect way to 'light' your business' door. There are three steps that can help you choose the right domain name for you, your business, and for the curiosity of your customers.
Name Your Business or Your Product
It only makes sense that you need to name your business before you can think about choosing a domain name. When you are choosing your business name, you want to remember that overall goals of your business as well as the audience you are looking to attract. For example, if you are trying to target children and their parents, you can choose something that's a bit more whimsical. But if you are trying to draw in a proper, business crowd, you need to choose something that makes you seem professional. It's best to start by listing possible business names, in order of how much you life them. If you can also incorporate your product into this name, that's all the better.
Now, with the list you have, you will want to find a few that are really working well for the image you want to create. But for a domain name, you need to make sure it's not too long for your customers to remember. What names can be either shortened or area already short without losing the information you wish to covey? Those should be your front runners.
Check Out Your Competitors
Of course, it never hurts to look at your competition to see what they are using for their domain names. While you won't be able to copy them directly, you might be able to get an idea of their format. For example, if you are looking to create a doll business, you might see that the competition is 'The Doll Business' and yours could be 'A Doll Business.' While they're still conveying the same information, they're slightly different. It can be a little tricky to choose a name in this way as there are many potential issues with copyright (especially when your business is similar to a really big corporation), so when you're in doubt, check with a copyright lawyer or the copyright office. In the end, it can be difficult to show that someone tried to copy someone else intentionally, but since you're probably going to be the smaller of the two businesses, it is sometimes better to play it safe.
Think About Domain Names You Already Like
In your current internet account, you probably have a list of the Favorite places you like to go. By looking through this list, check to see what site names you like best and then think about why. Often, these website names will be so easy to remember that you won't even have to look at your list to recall them. These domain names are usually short, branded names, and aren't strangely spelled. You should follow these examples.
In addition, your domain name needs to be something that is not already picked - but this can help you even more. When you go to a domain registrar, you can type in the names that you want to use, see if they're available, and if not, you might be able to see other similar names that are. This will help you further refine your domain name choices, while also helping you see whether you have a competitor with a similar name.
Your domain name is the signpost on the 'outside' of your online business - what message are you conveying to your customers? And what you want people to think?
Both Sean Stafford & are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Sean Stafford has sinced written about articles on various topics from Computers and The Internet. Sean Stafford is a recognized domainer and author of just released book "Domaining - Tapping the Online Mines".For more information on . Sean Stafford's top article generates over 1000 views. to your Favourites.
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