I think that every domain investor (and people in other businesses) should have an “end game,” or at least be working on establishing an end game as their business develops. What are your ultimate goals for your domain business? I think it’s very important for people to set goals – both business goals and personal goals. Everything that you do should be related to achieve your end game in some way. Whether it is an acquistion, developed website, or a sale, everything should be done to bring you closer to achieving your end game.
Part of my personal end game was outlined in a post I made a few months ago. Essentially, I want to have 2 fully developed geographic domain names that are generating advertising revenues. I also want to have 2 product/service related websites that are generating revenue from advertising or inventory sales. Whenever I acquire a domain name, I analyze whether it can become a part of my “perfect portfolio” or whether it will help me to get to the perfect portfolio by selling it for a profit. I am building new mini-sites that can be grown into full websites and continue to acquire new domain names (PrenuptialAgreement.com and LastWillAndTestament.com last week).
While I think I am on my way to achieving my 5 year goal, I also need to think about the end game, which I certainly hope isn’t in five years. What is my end game right now? I really don’t have a clear vision right now, but it is something that has been evolving. I think it’s something to think about as you continue to grow your business.
Last week’s purchases were probably sparked by upcoming thoughts about marriage. Which is why on Madison Ave the new buzzword is not demographics, but “life stages”. That’s why grandparents.com is exploding with advertisers like J&J sponsoring a search ad within the site “search for things you can do with your grandkids this weekend. It’s an interesting trend.