The Internet is a fountain of possibilities, and that includes money making. There are a lot of ways to make money, and one way is through domain names. If that doesn’t sound right to you, take the case of Mike Mann, a domain speculator who rocked the online world after going out on a domain-buying spree last month. In a period of a mere 24 hours, he registered a total of 14,962 domains costing him a little under $100,000. If spending $100,000 for domains doesn’t mean anything to you, I honestly don’t know what else to say.
Domain Naming – This probably is not a route a traditional domainer would take, but if you haven’t enough experience yet, domain naming, in my opinion, is a good springboard to jumpstart your career with domains. PickyDomains.com is a crowdsourcing site where clients go for their domain naming needs. By registering as contributor, you get to know what kind of domain names, slogans or brands people are usually on the lookout for. After which, you get to pitch domain suggestions, and if your suggestions get picked, or even just liked, you actually might have the knack for domain naming. If your suggestions get picked and then registered by a client, depending on the order type and your status as contributor, you receive 40% to 60% commission. That averages around $25 to $75 per order.
Domain Parking – A registered domain that’s not being used can be monetized. Also referred to as parked domain monetization, with domain parking, a domainer takes advantage of type-in traffic to the unused or slightly developed website. Sedo.com is a parking platform that offers revenue sharing through ads and lists displayed on your parked website. However, it is important to keep in mind that if you’re not getting lots of natural traffic to the parked domain, your chance of getting a big pay check is very slim.
Domain Resale – In domain resale, a domain with no website – also referred to as a naked domain – fetches the slightest revenue. If you add a website, your domain’s value goes up. If the website goes up in rank and generates a decent amount of traffic, the value goes up some more. If the website is profitable, expect serious bidders. Flippa.com is an online platform for domain buyers and sellers. If you’re intending to buy, before you get into thinking you’ve hit a pot of gold by simply browsing through the bids and offers at the site, do your due diligence. Don’t be taken for a fool. If you know how to weed out scammers, you’ll eventually find a winner.
Domain Leasing – If you have a dynamite or premier domain, domain leasing can be a lucrative business. Leasing a domain isn’t like leasing real estate. With real estate, if something gets broken within your property’s premises, like faulty plumbing or leaking roof, you’re obligated to get it fixed. With domain leasing, all you need to do is ensure the site’s registration is maintained. LeaseMy.com is a place where domain owners and lessees meet. LeaseMy acts as intermediary, broker and agent between both parties.
Domain Brokering – Domain brokering is the process of acting as third party or middle man between an entity needing a premier domain and somebody who has one. You negotiate a percentage with both, and if successful negotiations ensue, everybody’s happy. This way, you don’t need to own a domain. The only thing you need to own is the power of persuasion.
As a final note, if you do your homework, if you understand the risks involved, if you do what needs to be done before you take the plunge, who knows, you just might be the next domainer superstar.