The Next Big Thing for Domainers is..
Contrary to what many domainers believe, the next big opportunity isn’t in developing sites and services, not because there isn’t money there (there definitely is a lot of money there!) but because it takes a different kind of skill-set than acquiring domains and quite frankly, just as being a medical doctor or a test pilot is not for everyone, running a full scale business operation isn’t either. What does it take to develop a business? here are few posts written by RMG associates to read from the archive:
Recall Media Group CEO Darren Cleveland On Development
From Voodoo To Real Science, By Allen Gabriel (Recall Media Group)
Creating and Maintaining a Residual Revenue Stream, By Jerry Poole (Recall Media Group)
Tom Keesee “The Art Of Rapport”
So what is the next big thing? Familiar with the sentence “If you can’t beat them, join them”? So let me adjust it a little to fit here:
- If you can’t do it, invest or partner with those who can.
I believe the next big thing is finding those who can execute, those who know how to build businesses, driven, unstoppable, “change the world” and “take over the world” attitude, and invest or partner with them. You as a domain owner may have two things going for you:
1. Domains
2. Cash flow
1. Domains: Some of you may have domains that may fit someone’s business model (In RMG’s case, top notch directory-type domain names such as FuneralHomes.com ). If you do, it is worth exploring partnership opportunities with the right company. Before you do that though, focus on finding the right partner. The right partner is more important then the right business plan, as business plan is bound to change, as the true measure of a business isn’t a business plan, but adaptation to market conditions, persistence, and execution skills (to name a few).
2. Cash flow: Many of you have cash flow from your parked domain names. Reinvesting in domains isn’t always as lucrative as it used to be. If thinking in terms of ROI or in terms of diversification, there may be better (or other) places to invest your money. Your job: Investigate with who.
How to find the right partner? How to find who to invest with? That my friend is for another post.
Source: Posted on TheConceptualist by Sahar Sahid – Reprinted with permission – March 28, 2008