I am going through with the domain sale. After calling the sales rep in charge, they sent me an offer of just over half of what they originally quoted – $2500. I have accepted the offer. I think some people will think that it is a lot of money, but I see conferences costing much more than this. One of my female friends spends $400 in make-up a month. Sometimes it is hard to calculate and value what something is worth. As I said before, something only sells if there is a buyer prepared to pay that price of the goods or service.
Like anything it is going to be hard at first to get traffic to the site. The domain should get a very small amount of type-in traffic. A dot net name already exists, so I should get some people who type in dot com by mistake.
Once I quit my job, I will be 100 per cent reliant on my internet income. Unless I am making big dollars, I probably won’t be buying random domains, or buying scripts/templates unless it is absolute necessary. I enjoy spending money on my sites, probably not unlike what a woman spending money on buying new clothes.
To establish any credibility on the web sometimes you need to take some risks. The success or failure of an investment often brings in some nice traffic. My prediction for my latest investment is that it will perform fairly average. I am going to need to get a bit creative to lift traffic.
My real aim though is to create a community type site, which I can then promote my own business interests. Most competitive sites I have seen look fairly nice, but they are probably paying a lot for traffic/advertising. My idea is to first create a community type site, which I can then advertise for free.
I think it is an interesting strategy which is probably very underutilized.