Domaining is an intense process of contemplating, buying & selling great domain names. In this seemingly simple, but actually highly complex realm, acquiring and marketing your domain is a sophisticated process. Want to know how to be a domain professional? Firstly, you need to decide if you are going to create a short domain of one to two letters and such. Then you must evaluate if you should create a more specific longer phrase domain name that actually means something and is perhaps the name of a company or process. Next you have to buy it at the right price, which is not always the lowest cost. Since after you purchase the domain it will be locked with a registrar for sixty days and during that time period you will need to rely on the service and customer support of the registrar. Therefore, you will want to buy from a dependable seller who will assist you once you have bought the domain. Particulars such as functionality of an e-mail address and domain forwarding are considerations that you will want to take into account before you pay for your online address.
Secondly, how marketable is your newly acquired domain name? Can you resell it for more than you paid to buy it? If so, by what markup? Who is your intended demographic for sale? What sale price is reasonable? When listing your domain for sale it is a good idea to have a comprehensive concept to match the domain. Otherwise, unless the domain is ultimately catchy as a key phrase, no one will want to buy it for more than you spent to purchase it. Once aware of the domain name, a prospective purchase might opt to buy the same domain name with a varied extension, such as dot.org, dot.biz or others. Therefore, you should buy all of the possible extensions for your domain at the initial time of purchase or definitely before marketing your domain.
Thirdly, it is important to know if your domain name has value. There are websites that evaluate the worth of a domain. But it is more important to know the inherent value of the domain name to your intended buyers. Now that close to seven hundred new extensions will be released worldwide, having a great domain has never been easier. Many domain registrars are pre-registering customers for their dream domain name. At last count, one such registry had nearly two million pre-registrations. You should consider the best extension for your domain by utilizing part of your domain name as the extension itself.
Lastly, in this rigmarole of domaining, having the right budget is the key to being successful. After you have pre-registered for countless names, you will have to pay for them once they become available. Also, after you have purchased many domains, you need to be sure you will have enough money to buy more domains and to meet your general expenses. Having a reserve account for expenditures, in addition to investors and partners is a good idea. Even though you will need to share the potential profits, you will have more cushions on which to rely. It is important to note that the governing organization for domains has recently created a trademark clearinghouse. Therefore, it is wise to research the current usage of a phrase before buying it to avoid infringing on the intellectual property of someone else.
Originally posted 2013-09-17 17:03:38.