Trading domains for fun and profit can be a great way to start on the road to making money online success. But while many people are doing it with supreme results, few tell you how it can be done. Perhaps they are too busy enjoying the lucrative side of the business to bother with instructions for those who might be interested. If so, don’t worry. There are many ways to get started right away and start seeing the earning potential almost as quickly. First, you need to start buying and/or creating domain names. What makes one successful? Where does the value come from? How do you add value if it doesn’t already exist? The answers to these questions are ahead.
How can you find a good domain name for sale in the first place? The most common way people do this is by looking at businesses and trying to act on them and get the domain that would make perfect sense to “name” a business, or at least brand it properly. This requires a degree of research to understand the internal culture of the company, as well as its strengths and weaknesses. What have you done so far to promote your business? What things within the company can you “play” with to create an interesting domain name? Along with this, you can try simply creating your own domain first for a particular industry. Get creative before you take it to market, though.
The next thing you need to do is add value to the domain name you bought or created. Many times this means making it a somewhat successful site in its own right. Get quality content, play the search engine optimization games, and then when you’re at the top of Google’s pages, approach an interested buyer with a plan to buy the domain at a price you set. The reason many domain conversion companies fail is that people tend to underestimate the level of work involved. Particularly when it comes to adding value, they hope to simply put up a “for sale” sign and the money will flow. But there’s a lot you need to do behind the scenes for domains to be successful owners.
Last but not least, price plays a big role in your success. With domain switching, you might be tempted to take a low offer because it’s the only one on the table, but don’t rush into it. The more you earn from each sale, the better chance you have of being successful. Don’t sell yourself or your products down one bit.
