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Domaining - work from home and be the boss!

What could be better than...
    working whenever you want...
       from wherever you want...
          using a bit of creative thinking...
             in a hi-tech industry without a need for high-tech skills...
                where women possibly have an edge over men...
                   and making some good money while doing it?

Welcome to the world of domaining! Buying internet domain names and profiting from online advertising or selling them on at a higher price. Before you think, "I don't how to do that", then read on because all it really requires is some good creative thinking and a bit of intuition. Almost all of the techie stuff is handled by other companies so it really is as simple as thinking up useful names, buying them, parking them and waiting for the money to roll in.

What is a domain name and how does domaining work?

Examples of domain names are example.com and daisy.co.nz. Domain names are not the same as websites - think of a domain names as pointers or addresses to websites. You can buy a new nz domain name for as little as $30 and it remains yours indefinetly so long as you pay the yearly renewal fee (also about $30).

It can help to think of domain names as a little bit like real estate:

  • there's a limited supply in good areas and that means that prices can go up
  • parking a domain name gives ongoing profit a bit like collecting rent
  • there are many small-time investors and individuals involved
  • knowing when, where and what to buy can lead to making a nice profit

So how can I make money by domaining?

Second hand domain names can sell for hundreds, thousands or, in rare cases, millions of dollars which is where much of domainers' profits come from. Of course many of the best names were snatched up long ago so you're unlikely to pick up a million dollar name these days for just $30. You either have to be savvy and buy an underpriced second-hand domain name, or brainstorm a bit and think of interesting combinations of 2-3 words that have a commercial or buzz appeal. e.g. many people make travel related purchases online so travel domains definetly have a good commercial appeal. Premium domain names like travel.com and hotels.co.nz were taken long ago so be a bit more inventive (use your crossword skills!) and try out things like KiwiCampingTours.co.nz or DeluxeHotels.co.nz (these names might also be gone, but hopefully you get the idea!)

The other way of making money is by parking your domain names with a pay-per-click parking provider. All you do is sign up with a company like NameDrive, add your domain names to their list and point them to their site (following their instructions). Now whenever anyone visits your domain names they'll be greeted by an automatically generated website full of links and information for products or services related to the domain name. You get paid a commission whenever anyone clicks on one of the links on the page. Wow, your own revenue-generating website without needing to know anything about making websites!

Can I also lose money?

Domaining is a business and like all businesses it is possible to lose money. But the most you can lose is the amount you paid out to buy your domain names. Stick to shortish, commercial domain names that don't violate trademarks and you should do alright. It's not hard to understand that something like MarthasPuddingAndCakeRecipies.co.nz isn't likely to attract a lot of buyers!

Where can I learn more and how can I get started?

There are a number of useful articles and tips on domaining at www.DomainMarket.co.nz. Spend a little time browsing the site, especially the domaining newbie's corner then play around with registering a few domain names, park them at NameDrive or somewhere else and list them for sale. Who knows, you could be the next domainer millionaire!

By cyan 26-Aug-2007
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