“Domaining basically means to invest in Internet Domain Names. In other words, it is the business of making money by buying, selling, and trading domain names. It has gained immense popularity in its early years; domaining made people millionaires by earning money from the registered domain names, but now things are not as simple as they used to be. If you are looking to get rich overnight, domaining may not be the thing for you. However, having said that, there are still a few opportunities for the new domainers.
Getting Started:
There are various ways in which the domains may earn money, but the most common way is through selling domain names. It is advised to start by investing less. You can buy a domain name for as little as 3 dollars and with proper bargaining skills, sell it for hundreds, thousands and even million dollars.
Domain Conferences:
Attending the domain conferences is highly recommended. It helps you learn about the domaining industry directly and meeting top participants can be really beneficial for you. The exposure will not only inspire you to improve, you also may pick up some interesting new ideas. Do not hesitate to participate in discussions and ask questions. These conferences can be very beneficial.
Invest Smartly:
Once you have the general idea, you can start investing. Do not go on buying expensive domain names at the start! Invest wisely. Start off with buying low cost domain names, and then later selling them with high prices. This way you will understand domaining better without fearing to lose a lot of money if things do not work out for you.
It is better to have only few good domain names rather than having a pile of trashy ones that might never find a buyer interested to develop them.
Select Wisely:
How to choose a good domain name? A good domain name is usually short and also easy to remember. It is not hard to spell and should have the tendency to attract a potential buyer. Choose a brandable domain name with a pleasant pronunciation. Avoid investing in the domain names containing hyphens or numbers as they do not sell well comparatively.
Domain Name Value:
One of the trickiest things in domaining is understanding the domain name value. Every domain name has a different value to each investor. Once you have registered for a specific domain name and there are buyers ready to invest, ensure to get the most profit. Bargain smartly and keep your options open. Use your marketing instincts.
These tips should be enough to give you a general idea. Once you start domaining, new ideas will come to you and eventually, you may succeed.
