Thursday, November 5, 2009

Buying and Selling Domains - How the Business of Names Can Help You Earn Profits

So you're ready to get a website live on the Net, eh? And you have the perfect business name, right? Well, now it's time to secure a meaningful and relevant domain name for your new website.
Domain name registration can be as simple as naming your business, or as difficult as naming your child. You want a domain name that's similar to, and ideally matches your business name. It needs to be as short and sweet as possible. Of course, most of the short domain names are already registered. But, there is no need to toss in the towel. You can still find a relevant domain name for your business.
Where do you begin? You perhaps don't consider yourself an internet guru, but you know that without a domain name, you can't have a website. A quick search on Google or MSN for the keywords "domain name" or "domain registration" will return a plethora of sites literally begging you to register your new domain name with them. Which one should you go with? Let me help you.
I've been developing websites for years for businesses and organizations around the United States. I've tested domain name and web hosting companies from California to North Carolina. Some are excellent in what they do, while others are downright unprofessional. And, I always kept coming back to one company . . . GoDaddy.com
GoDaddy.com is arguably the best web hosting and domain name registrar available anywhere in the world. I currently have about 350 domain names registered through them. They are inexpensive, trustworthy, and professional. Moreover, they have 24/7 live phone support. In addition, GoDaddy.com offers plenty of free features when you host your website with them. The first indication of this is a $1.99 domain name if you purchase one of their already low-cost, feature-rich hosting plans to go with that domain name. You're going to need a hosting account anyway if you want to see your website live on the Net. So, why not keep it in the same place as your domain name?
What's in a Name?
What name should you choose? You've no doubt heard that the shorter the domain name, the better. It will be easier for people to remember, and more importantly, easier to physically "type" from the keyboard. It should reflect your business name, contain nothing but letters or numbers, and absolutely should be a .com or .org name. The length of your domain name can vary.
You will probably find it difficult to register your domain name since it may already be taken. In this case, if you can't keep it short, try to keep it simple. For example, if you want to register the domain, "xyzrealtor.com" (where xyz represents the name of your business), you may find that it was registered by someone else long ago. Instead of adding a dash, like www.xyz-realtor.com, add an "s" to the end, like www.xyzrealtors.com.
You can even just spell out your business using a combination of your name and the type of business you have, like www.smithrealtors.com. If that doesn't work, add "inc" to the end of your preferred domain name, like www.smithrealtorsinc.com (if you are incorporated, of course). But, the most important element in securing a good domain name is that it must be short, and it must be simple to remember.
If your business is called, Ernie's Fabulous Emporium of Recycling and Waste Management Processing, Inc., you will clearly want to try to find a domain name such as "Ernies.com" or "ErniesRecycling.com". Choosing a domain name that has your physical name combined with your primary purpose of business is always better than a 10-syllable domain name.
Another route would be to choose a .Org name. Ideally you should be a non-profit organization before you use the .Org extension. But that hasn't kept ordinary people from registering a domain name with the .org extension.
Never use the .Net, (extension) unless you have a very popular keyword or phrase. Most are already taken, of course, so you will have a tough time in securing any of them anyway. Many search engines consider .Net domain names as link farms. Unless you will be updating your website with useful content on a regular basis, stay away from .Net.
Many people believe it's important to buy up all the possible domain name/extension combinations. I think it is usually a waste of money. If you have a trademarked business name and it is a quite popular business you are running, it may make since to register all possible extensions with your domain name. But, if you are just starting out and don't expect to turn millions of dollars your first year in business, I would recommend you bypass offers for the other extensions.
How to Register
To register your domain name means to "secure" it for your personal or professional use. You can usually register it for up to 10 years, but I would recommend no more than a couple of years. If you like what you have, and your website is providing a return that's of use to you, then you can always add more years to your account.
To get started, go to http://www.godaddy.com/ webssite free website template, and I'll be in touch.
Who would have thought that money could be made from names? With the advent of the Internet, industry regulars slowly realized the gold mine sitting literally under their fingertips in the form of domain names. These days, buying and selling domains has become a real business, with some highly sought-after names selling for five-digit figures. The domain name ClearDay.com, for example, reportedly sold for $60,000 while Mercury.com made a lot more -- $700,000. Think there's a market out there for your domain name? Here's how you, too, can make money from a name:Find domains that you can sell later on.Generally, people who buy or 'grab' domain names don't really have industry-specific monikers in mind. If you like jewelry, for example, you don't have to stick to buying domains such as PreciousGems4U.com or SparklingJewelries.net. You can pretty much pick any name that strikes your fancy and then buy it.However, paying for names that won't sell later will considerably drill a hole in your pocket if you're not careful. You could buy dozens of names for a small fee but if you're not going to use them or can't sell them later, what's the point of grabbing them, right?Do a search on domains that have a potential or those that have shown some sort of following in the past few months. Use the Alexa toolbar to find out which domains or sites are these. Look for names that have registered a minimum of 1,500 to 2,000 hits 30 to 60 days prior to your search. If you're willing to pay more, look for domains that have registered five-figure hits because that's an assurance that these domains already have a strong following. You can either sell the domains back to their former owners or have interested parties bid on them. Either way, you'll profit from your efforts.Automatically bid on domains.You can't always spend hours online searching for domains to buy. Try online grabbing systems that let you automatically bid on domains you're interested in. Sites such as Pool.com and Snapnames.com are just two of these sites. You'll pay them a fee if they successfully grab the name on your behalf.Get your domain name listed.Before you can sell your domain, you have to be registered. That's how you can be 'legally' recognized. Getting the name registered also bestows upon you the right to claim it and if you so wish, sell it later.Registering a domain name may be done for a limited period of time, usually as short as 12 months to as long as 10 years. Beyond the chosen period, the registration expires and you can choose to renew it and continue to claim ownership over it. Or, you can choose not to; at which point the domain name will be made available to another buyer. This is where you can sell the domain.Register a potentially valuable domain.Many people scour popular shows and events to try to find out which personalities, events or gadgets are developing a following. If you've been watching shows such as American Idol, for example, and you check out sites that register domains, you'll find a few that are familiar. This is because some people will try to register a name of some rising star who will potentially become famous enough to want to build his own website someday. Since his name is already registered, he will want to buy it back and thus earn the investor a nice profit.If you don't mind speculating, this may be a good route to take. Just remember, though that it can go either way in which the domain name gets sold or it gets ignored.Build traffic to your domain.If you want to take this route and build your domain from scratch, prepare to work. If you have a domain name that you created by yourself or bought, you need to make it valuable to potential investors. Offer high quality content, build a reputation, link up with quality sites, allow your visitors to interact using your website. Once you start appearing on major search engines' radar and gain a good following, you raise the value of your website and your domain. When the time is ripe, you can then sell that domain for a nice, fat profit.

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