I've been cooking that idea the whole week. Here is what I'd do to improve it:
- Get a reseller deal with godaddy so you can sell domains and get some extra cash to keep the business going from day one.
- Divide the screen in two sections: one to auction domains, the other one to ask for domains based on a business idea.
- So if I want to start a business about toys, I can poll the audience for toy related domains. People make money, you make money, the user gets satisfaction.
- Spice up the auctions. We all know auctions on ebay get hot in the last minutes only, so set up the auctions to last just two minutes and use the latest websocket technology to broadcast the auction in real time.
If you are interested in a partner, or if anybody wants to set up such a business, let me know by replying here.