We here about those who have succeeded; maybe we have bought tickets to their seminars or listened to their disks. For every one who succeeds, there are millions who fail. Here are descriptions of one great way to build wealth online.
Buying domain names and selling them for a profit is a venture that can be started with only a few dollars. Imagine a domain name as a property, and if you are the first to buy this property, which can be as low as a few dollars, a tremendous profit can be made. Turn a few nickels into millions, not quite. This is a very competitive market in which success can be dictated by research and even a little bit of luck.
Many of the words ‘premium’ domains have been snatched up, but that doesn’t mean that they are not for sale. Everything is for sale.
In recent times, people have achieved success by buying up acronyms and being a few steps ahead of the game. You may come across ridiculous pricing, for a domain name that may seem worthless. You are probably right. The market is saturated with people trying to sell their product, and hoping to find a buyer who is stupid enough to pay top dollar.
Anything that starts with ‘i’ is pretty much inflated to the point of being absurd. Many domain buyers run into the issue of hoarding, which also can run you through cash, very-very quickly. Keep in mind that every domain you think of, and is available, is probably worthless. So keep an eye open for: budding celebrities’ names, catchy sounds which are 5 letters or less, acronyms, and slang.
Keep abreast of business news and ask yourself these questions: Are these companies merging? What new ventures are on the horizon? What would a good nick-name be? The main draw to the domain-game is start-up cost. However, a 99 cent domain is still a loss if no one wants to buy it. You can build wealth online buying domain names and selling them for a profit.
Posted on behalf of Adam Ginsberg by the Adam Ginsberg Team
Adam Ginsberg would love to work with you on getting you started with your business on the web. So, drop him a line or check out his website for his eBay tools and resources. You could also read his book, “101 secrets of an Auction Millionaire” for some inspiration.