Should you develop a premium domain?

[Shane]

Hey all,

I've put together an article on Domainer.com.au about whether or not you should attempt to develop a premium domain.

http://www.domainer.com.au/should-you-develop-your-premium-domains/

I'd be keen to know what people think, as I know some are against it whilst others are keen to try it.

Cheers.

 

[neddy]

Shane - you write really well!

 

[AlexRav]

Interesting article Shane, Thanks for the read, some good food for thought there

I've always contemplated purchasing a solid domain and developing it with the intent to try create a meaningful income but have yet to pull the trigger, I've always felt the best chance at success for a task like this, for someone inexperienced, would usually mean making sure the domain revolves around a topic the person has either a great interest, passion or knowledge of.

 

[Shane]

I've always felt the best chance at success for a task like this, for someone inexperienced, would usually mean making sure the domain revolves around a topic the person has either a great interest, passion or knowledge of.

Absolutely! Having either knowledge or passion (preferably both) will make development far easier and success more likely.

It can be done without, but then you need to replace knowledge or passion with a whole lot of motivation.

 

[AlexRav]

It can be done without, but then you need to replace knowledge or passion with a whole lot of motivation.

Ha, yeah definitely, the difference for me when developing a site that I have a passion in or not, can be a matter of enjoying or hating the work, money always being the motivating factor at the end of the day.

 

[findtim]

nice article, i added my twist as a comment

 

[snoopy]

Wouldn't do this unless you have a passion for the area and are willing to to work at it full time. Most of the time development involves a lot of wasted time and money.

 

[Shane]

Wouldn't do this unless you have a passion for the area and are willing to to work at it full time. Most of the time development involves a lot of wasted time and money.

Passion can be replaced with motivation, and plenty of successful businesses have been started on the side.

As the post pointed out, development is not for everyone and/or every domain.

 

[findtim]

what people do not do mosttttttttttttttttttttttttttttt times is count their hours into the final profit $ figure.
they go "wow, we made $10K on that hand-reg build and promo but at the end they spent 600 hours promoting it, $4k building it
so they really didn't make good money.

i watched some interesting new shows last night (monday) on channel "9 life"
flip or flop
masters of flip
fixer upper

all relative to this subject i think

 

[findtim]

another mention, when we do a dev job here for a client we also look at our names list and see how the layout may suit one of our names, this way we basically zero our dev cost.

we do of course make sure our domain is in a different vertical or targeting a completely different area of australia, eg hornsby nsw could be used for a suburb in perth.

tim