It seems that everyone wants to get into the domain investment business. All it takes is internet access, a good idea and around $8.00 and you can buy yourself a great domain name! Shoot – you don’t even need a great idea to register a domain name. Come on, everyone has a few of those alcohol-induced purchases, right?
The point is that it’s very easy for people to register domain names and become involved in the domain business. One thing I’ve noticed is the diverse backgrounds of people I know in the domain industry. There are marketers, lawyers, doctors, techies, professors, salesmen…etc. The list of professions is deep, to say the least. This is because the domain industry spans every single profession and industry, allowing those with a strong background in a particular field to have an advantage over others.
Take my friend Ben for example. He’s a finance guy who knows that business well. After many discussions about the domain industry, my friend decided to get his feet wet and register a few domain names that jive with his finance background. Although he won’t be able to retire on most of the names he purchased, he did acquire some pretty good names in YuanInvestment.com (Yuan is the Chinese currency), MarginInvesting.com, and YenInvestment.com (BTW, if you are interested in acquiring these, drop me a line!).
Although he may not even realize it until reading this post, I think the most valuable domain name that he owns is his own first/last name in the .com. He is now in control of his name on the Internet, which will be important once he really makes a name for himself. Ben is a smart guy. When the domain industry really comes from under the radar, Ben will probably be managing billions of dollars, and he will have a leg up on everyone else. Shoot, maybe Ben will be the financier that helps propel the domain business forward.
Back in 2001, I registered my full name (with maiden-married last names); at that time, I didn’t even know what domaining was, but I knew that “owning” my name on the internet would be important. I later regged my maiden name and then just my married name (easier for my students to remember).
Later, someone regged the .net of my full name and tried to sell it to me for some horrendous price. I didn’t bite, of course: I already had the .com. The domain was later released. Someone else regged the .org, but now it has been released as well. It’s a very long awkward and oddball name and absolutely no use to anyone else but me (or someone who has the same name–not too likely).
I’m not a famous person, nor am I rich, so I see no need to own my name in all TLDs.
Domaining looks like easy money; while that might be true for those who got in early, it’s hard work for latecomers. I’m not complaining, but potential domainers should set realistic expectations and goals and be prepared to work hard and spend money on good domains…
And don’t mix alcohol and domaining; otherwise, you may end up with inventory like cabanamama.com.
Now if I pour a drink for myself, I turn off my computer.
😉
Ms Domainer
I suggested to a few friends of mine a few years ago (Stock Traders) that they really should register their fullname.com just in case they became well known on the internet for their trading products/services. One of them actaully resisted for about 6 months or so and after some nagging finally gave in. They are semi-famous in the trading world now and use these domains for their sites. It’s so cheap you have to wonder why anyone who may become known to the public in their field would resist.
I have a couple of friends who are probably going to be involved in politics in a few years, and I’ve advised them to register their names, too. It’s much cheaper now than if someone else registers it in the meantime.
Yes one should register his full name domain to avoid having it snatched by someone else. But what amazes me is the fact that many companies leave their company-related domain name out there. The fact is, nowadays checking for your domain name should be done even prior to registering a new company!
Cheers,
Pat
I am giving fullname.com domains as gifts for Christmas this year. Any suggestions on how to give as a gift? I am thinking about just registering and hosting myself and if they want to take full control I will transfer it to an account they create. Otherwise, I’m not sure how to register in another person’s name easily (have to create and verify whois info for them and setup payments for them, etc.).
You wrote, “This is because the domain industry spans every single profession and industry, allowing those with a strong background in a particular field to have an advantage over others.”
Excellent point. Don’t buy domains all over the map. Specialize. If you’re a techie and you follow all the latest technological trends, buy quality domains in that field. Because of your experience you know what to look for and what makes sense, so be discriminating.