Boost your domainer income!
It’s no secret that despite the hard work of the current administration, we are facing a bad economy.
What can domain investors do in order to boost their domain income and preserve their domain revenue stream through the perils of the pre, during and post election days?
Here is a short guide, that aspires to be an astrolab for domain transactions in 2013 and beyond:
- Acknowledge your failures: clean out the slate and drop those crappy domains. If you need help identifying them, you don’t need to be a domainer in the first place.
- Adjust your asking prices: if a domain didn’t sell since its 2002 registration date, it’s unlikely that it will sell now. Cut your losses, offer it at a substantial discount – unless it’s profitable.
- Domains that don’t make their reg fee in a given year, must either be dropped or you should lease, sell or point them to some revenue stream asap.
- Use social media to communicate your message: they are there to enhance your reach to a larger audience.
- Don’t sit on your laurels: Those domains in your portfolio that make money, should be carefully examined in order to improve their performance.
- Network with domain investors, not with domain flippers. On the other hand, domain flippers are a good source of domains with potential, at an affordable price.
- Received offers in the past and turned them down? Swallow your pride and pump up your wallet instead. If those offers were made at Sedo, you can set a BIN price to those domains; previous bidders will be notified of the domain opportunity.
- If you haven’t formed a corporation yet, do it. You will receive considerable benefits from it, including deductions for business expenses.
- Hire a CPA for your taxes, that’s another deductible business expense; focus on your selling part of the business and let the finances be taken care of by a professional.
- Forge alliances with organizations that will allow you to relay your knowledge and skills. Volunteer part of your time to charity work, it will clear up your mind and help the lives of others. Positive karma is good.
- Organize your time: schedule, plan, draft and keep track of your daily, weekly and monthly program. You will be able to achieve more and track your progress.
- Read DomainGang daily. We are here to make your life easier and more fun.
