To Buy & Develop or Not…
I have an opportunity to buy a great domain name that is the name of an industry and profession (not Internet-services related). I am around these types of people often, and there is an abundance of them in my area, as well as throughout the country. Many of them advertise on a variety of websites, including their own, but there is no industry leader.
The domain name is expensive, and the price I pay would probably be considered more of an “end user” price. However, I would not be overpaying by so much that I couldn’t recoup the investment should my business plan not go as well as I believe it can. In other words, it might sell for a loss if I had to liquidate it.
The problem is that I have several projects on my plate right now (including the blog), and I am not sure the smartest move would be to outlay a handsome sum of cash to acquire the domain name and create another project for myself. There are competing websites that do what I would like to do, showing that there’s a market – but also showing that there’s competition.
Decisions, decisions… What would you do?
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