In the amount of research I’ve compiled, it never ceases to amaze me when I stumble upon a new idea to make money online. While it involves a small but manageable financial investment, if you’re smart about it, the return can be quite impressive. Hosting reselling, although gaining popularity, remains a relatively untapped resource in work from home environments.
The concept involves purchasing domain names that are expected to become highly sought-after. In fact, there are many companies that specialize in this type of marketing mania, buying up simple web names in the hopes that someone else will come along and offer them a significant amount of money to assume ownership of the name. It may sound complicated, but it can be a valuable source of income if you use the right line of thinking.
For example, a couple of years back, I was looking for a way to waste time online in between writing projects. I typed www.bored.com
in my toolbar and, alas, there it was – a site filled with games and mindless activities that actually alleviated the boredness (if we pretend that’s a word). Perhaps the person who created the site purchased this domain name for $3.00, like many others, but maybe the name already belonged to another individual who bought it with the sole intention of cashing in on the deal.
Think about a name like “newyork.com”, which the New York government or tourism sector would love to get their hands on; in reality, the name belongs to an Internet-based media and tourism site. Yes, the focus is placed on events and attractions within New York, but think about the amount of hits such a simple name would incur within the run of a day, and how well-suited that simplicity would be for the official New York tourism website, “iloveny.com”. If you were traveling to the Big Apple and wanted some quick info, which name would you be more likely to try on a whim?
This type of endeavour takes nothing more than brainstorming, an account to purchase domains, and a few dollars. One popular domain provider is GoDaddy, who offer many .com names for less than $20.00 per year, along with monthly hosting packages. Setting up an account is easy (and usually free) and most sites offer search tools that allow you to determine the availability of a domain name within seconds. Even better, many of the same search engines will provide alternatives if your first choice is taken, which can actually serve to do the dirty work for you.
So, you think you’re ready to give it a try? Come up with a list of somewhat obscure, yet obvious names and perform a few searches. You’ll find that most names are taken, but it’s often easy to come up with similar or closely related domains that would be of great benefit to the right person or company. I remember creating a website for my cousin that was based on teacher recruitment in Korea and it took us months to come up with an available domain name. It seemed as though everything was taken. Unfortunately, most of those names were “parked”, meaning they had not been turned into real websites and were instead linked to “click here if you want to buy me” offers. If money had not been an issue, we would be the proud owners of one of those names.
Take a stab at it and see how far you can get. You never know, it may prove to become a great money-making scheme that doesn’t require an abundance of time or money – a rare find indeed.