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Want to Build a Side Business? Just Buy Great Domain Name

deepsouthventures.com

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Re: Want to Build a Side Business? Just Buy Great Domain Name

#151

Post by joshstrange »

Descriptive URL's like "BikeTours.com" convey the opposite to me. It's going to be swimming in ads and malware and full of BS reviews hoping for some affiliate link clicks.

Also buying domain names ("great" or not) is a bad way to get started. There are a million things that need to happen to launch a side business and a domain is literally one of the least important things. You can always buy getX.com, Xapp.com, Xnow.com, etc and buy X.com when, if, you make it big. Buying domain names is fun, I used to do it regularly but it just gives a short rush where you play through different scenarios and then you forget about it until you get the notification to renew it a year later. You want to build a side business? Then build a side business. Want to fantasize? Buy a domain.

Re: Want to Build a Side Business? Just Buy Great Domain Name

#152

Post by dmoney »

prawn wrote: post #117
dmoney wrote: post #75

I like the idea of using expiring domain names to generate business ideas (especially domain names that are fetching a good price). But what if, instead of buying the domain name, you... didn't buy it? What if, instead of dropping $5K on an exact match, you spent $10 on a B+ domain name, where you can set up a landing page to see if there's interest in the business idea you've generated? That way, if you are getting…

"I like the idea of using expiring domain names to generate business ideas (especially domain names that are fetching a good price)." Personally, I think buying domains that seem good, and then brainstorming ideas for them is risky. You're more likely to end up with a questionable foundation ("Maybe it could be a site about dogs with funny socks?") or something outside your area of interest/expertise. IME, it's bette…

> Personally, I think buying domains that seem good, and then brainstorming ideas for them is risky.

Your ideas have to come from somewhere, but I think it's risky too. That's why I suggested buying a cheaper domain to vet the idea before buying an expensive one (if at all).

Re: Want to Build a Side Business? Just Buy Great Domain Name

#153

Post by dmoney »

eightturn wrote: post #107
dmoney wrote: post #75

I like the idea of using expiring domain names to generate business ideas (especially domain names that are fetching a good price). But what if, instead of buying the domain name, you... didn't buy it? What if, instead of dropping $5K on an exact match, you spent $10 on a B+ domain name, where you can set up a landing page to see if there's interest in the business idea you've generated? That way, if you are getting…

author here.. all I can say is, buy a B+ domain name, expect B+ results. I prefer buying an A domain (not A+, not A-), and speed the process up, whether it fails or succeeds. If it fails, eh, cost of doing business.. move on..

> all I can say is, buy a B+ domain name, expect B+ results.

Fair enough. I guess the expense could be justifiable if a good domain name really helps. I'm just wondering about quantifying the risks/costs.

If it fails, you can resell it, but how often do domain names increase vs. decrease in value?

Also, how often do you end up not using an expensive domain name, or find out it was a dud?

Re: Want to Build a Side Business? Just Buy Great Domain Name

#154

Post by seirim »

azdle wrote: post #7

Maybe it's just that I lack follow through, but I disagree. I have a horrible habit of buying domain names thinking that I have this great idea, I play with it for a day or two and then abandon it. Actually, in the spirit of this article, if anyone here is interested in any of these, let me know: addressauth.com -- Was going to be a physical address verification service using lob.com's postcard sending API. atomicthi…

Your Internet of Things domain names are quite... catchy, so to speak! I started a blog recently on Internet of Things that I think I chose a unique name and url for: http://iot.salon/ let me know what you think if you have a chance.

Re: Want to Build a Side Business? Just Buy Great Domain Name

#155

Post by overcast »

hrayr wrote: post #8

I sometimes buy domain names on my phone, late at night, in my bed. Usually after hours of laying in bed building out a business in my mind and iterating over and over to see where it leads. Buying the domain name seems to be the last step in the processes, it helps me sleep. I look at the list of my domains every once in a while and pick ideas to work on, but sometimes I have no idea what drove me to buy them, like…

Good lord, my rainy day project domain purchases is a mile long at this point. So many transactions done just before falling asleep in bed.

Re: Want to Build a Side Business? Just Buy Great Domain Name

#157

Post by voltagex_ »

audleman wrote: post #57
vtlynch wrote: post #3

>I immediately gravitate towards the keyword descriptive dotCOM. It instantly exudes trust & authority Strongly disagree. As a result of this type of thinking, I find that the majority of "keyword descriptive dotCOM" domains are usually click-bait or shady content marketing. Sites like "VacuumReviews.com" are almost always full of content focused on SEO not quality, and questionable financial motivations. But I guess…

Agreed. Descriptive.dot.com domain names are the equivalent of generic cereal boxes. I want to go to Amazon for my books, not books.com. I will never go to food.com, or glutenfree.com, or anything of the like. Amy's Kitchen on the other hand sounds compelling. I trust my pets with rover.com, but dogsitting.com? No way.

>I want to go to Amazon for my books, not books.com.

Funny that, books.com seems to be owned by Barnes & Noble. I wonder what that domain cost them originally and how much traffic goes to it.

Re: Want to Build a Side Business? Just Buy Great Domain Name

#158

Post by ClayFerguson »

slavik81 wrote: post #85
ClayFerguson wrote: post #80

It speaks volumes about human psychology. The fact that sometimes all it takes is a catchy name to build a company from nothing that has not one single innovation. Just look at one of the most hilarious examples: "meundies.com" It has a cute little name that people like, so it's gaining traction. Is there anything innovative or good about the product or business model? Nope. The catchy name is all.

Probably more important than the name is that I hear countless ads for meundies. I assume they're spending a fortune on advertising.

Right, and if it was called what it is: "Online Polyester Underwear" their sales would be precisely zero units so far.

Re: Want to Build a Side Business? Just Buy Great Domain Name

#159

Post by diego_moita »

xapata wrote: post #146
diego_moita wrote: post #120

Wrong, very wrong. Generic names say that you are generic, not special. Al Ries[0] describes this as the "The Law of Generic": a brand dilutes itself when it tries to refer to a generic category because it doesn't distinguish itself from competition. He gives 2 examples. There was a company making biscuits that called themselves National Biscuits Company. They abbreviated that to Nabisco and became a brand. There was…

That hypothesis is difficult to falsify and therefore difficult to believe. Can you give an example company that can serve as a proxy for the counterfactual National Biscuit Company that never changed its name?

> Can you give an example company that can serve as a proxy for the counterfactual National Biscuit Company that never changed its name?

If I could then it would be an evidence that the thesis is false. Look around, among most successful sites and companies in the world which one as a clearly generic name?

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