Domaining is a method in which you acquire a domain,
hold it for a period of time and sell it. Acquiring a domain could mean registering a web name you formulated under your name, it could also mean purchasing a web name from its original owner to transfer the registration to your end, and last it could mean purchasing a web name from the domain auctions. These are the different ways on how to acquire a domain. Now, let’s dig deeper into how one can master the art of domaining.
The best way to master domaining is by familiarizing yourself with unfamiliar things or terminologies. By joining domain forums, you will encounter words new to you. You can then start researching it. Start conversations and learn to ask the right questions.
Through this way, you will gain a lot of insight beneficial in mastering the art of domaining. Aside from joining forums, you can also start reading books that will give you the needed knowledge about domains.
Formulate a Strategy
In any business, may it be online or not the strategy is an essential factor to succeed and the same goes for domaining. You should create a strategy that will serve as your guideline.
You must question yourself about the goals you plan to achieve; would you like to earn fast? Would you like to earn slowly but surely? Which market do you want to explore? These are a few of the questions you need to answer to layout your domaining strategy.
Register Numerous Worthy Domains
Because beginners tend to be over-excited, they usually forget to register domains that are worthy of buying.
Registering domains is not just simply registering it, you must do some research; ensure you know what are the types of domains that can be bought and those that can’t be. Once you feel that you know a lot about domains, it’s time for your first purchase.
When choosing the right domain, you must see to it that it can be resold for a higher amount than what you paid for. For example, if you registered a $5 domain name you have to resell it twice its value at $10. This way, you earned $5 from your registered domain. Some of you might wonder why I prefer a small number of domains, simply because if ever you made the wrong move the damage is still reversible.
Registering numerous worthy domains at small amounts may be questionable to you, however, please note that this method is all about “volume”. Register 10 worthy domains at $5 each and resell them at $10 each will give you a $50 profit. As a beginner, a 50% profit is not bad at all!
Join the Broker Sites
Broker sites mean websites that have a huge amount of traffic and are usually checked by internet marketers or fellow domainers who are in search of sale domains. Websites such as snapnames, the sedo, and afternic are the highly visited sites. As they call it, these sites are the so-called brokerage firms.
These are a few of the things one should do to master domaining however the listed things above once done can help you start your domaining career on the right foot. Be aggressive if you plan to enter the domain business, do your research, and be patient for, in the end, your hard work will be paid off once you’re starting to earn.