Saturday Musings - Whizzbangsblog's Upcoming Anniversary

Saturday Musings - Whizzbangsblog's Upcoming Anniversary

Last night we invited a couple of friends around for a barbeque. It’s a quintessentially Australian thing to do and no, we didn’t have a shrimp on the barbie (besides, we’d have prawns). I find there’s nothing quite as relaxing as sitting outside watching the sun set while you feel the cool refreshing breeze on your face.

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It was then that it hit me….I’ve been blogging for nearly ten years! After checking the whois on whizzbangsblog.com I found the actual ten year anniversary date is the 7th April! Time flies when you’re having fun!

One of the things I most cherish is hearing from you, the readers of whizzbangsblog. Each comment spurs me on to keep writing and digging into all the possibilities that business and domains represent.

I don’t think I’ve ever asked it before but I would love to hear from you about whether you find the articles helpful, challenging, funny or something else altogether. Also, it would be great if you could let me know which articles you have enjoyed reading the most.

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How to Sell a Domain to Your Target Market?

How to Sell a Domain to Your Target Market?

There’s a great discussion taking place over at the domain forum, NamePros, where one camp is asking why businesses don’t buy domains for thousands of dollars well another group is suggesting that is way too much money. The fundamental question that needs to be asked by a domain seller is, “Who am I selling to?”

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The vast majority of businesses in the world are small not large. These are often the family owned firms that may be running the local pizza shop or printing company. They may or may not have a website and given their clientele are within a few miles of their business they often have little need nor desire to expand to the rest of the world.

A successful small business is often one that allows the owner to pay themselves a salary. Remember that 80% of small businesses fail in the first couple of years largely due to lack of capital.

To ask a small business owner to put their hand in their own pocket and buy a domain name worth $10,000 plus dollars is a huge step. They are likely to decline the opportunity because they would rather buy a car or take their family on a holiday instead. One of the reasons why most domains sell for $1500 is because this large market has individuals within it that are prepared to risk smaller amounts of money.

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Why Are Companies Reluctant to Spend Money on a Good Domain?

Why Are Companies Reluctant to Spend Money on a Good Domain?

The last article on “Underpinning Domain Sales” sparked an interesting discussion on the domain forum, NamePros. One of the respondents asked the question, “Why are companies reluctant to spend money on a good domain?” In this article, I hope to answer that question.

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In my opinion, the dominant reason businesses don’t spend money on domain names is because of ignorance. On the whole the domain industry has not been able to mobilise itself and communicate cooperatively to businesses about the importance of domain names. I’d like to unpack this a little further.

The biggest problem has always been the question of whom should put up the PR/Marketing money to generate interest and understanding in domains. Some people point to the registries, others the registrars while others say the current domain owners should all chip in. These discussiona often degenerate into name-calling and a lot of inaction.

What domain investors need to appreciate is that once they have purchased a domain name the registries and the registrars have effectively done their job. There is NO incentive for them to try and market on behalf of existing owners to increase the demand for already registered domains so the price goes up. That’s an almost impossible job.

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Do the Domain Sales Numbers Stack Up?

Do the Domain Sales Numbers Stack Up?

I thought that I’d take a break from the series on “Building a Business” and examine what underpins the domain sales market. There are a huge number of domain investors that have bought into the market purely to sell their assets onwards…..so is this a sensible thing to do?

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In my investigation into the domain sales space I thought I’d first of all outline the two fundamental domain sales business models.

Domains as Stock Items

Stock item domains are those that sell for sub $2,500 and represent around 87% of domain sales by volume. The goal here is to move greater numbers of domains and NOT necessarily increase the sales price. The business focus is therefore to increase the stock-turn from 0.3% to say 0.6% of your domains per year….it’s all about speed and automation of transactions.

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Saturday Musings - What's Your Goal?

Saturday Musings - What's Your Goal?

My wife Roselyn and I have fallen in love with New Zealand and more specifically Queenstown which is situated in the mountains of the South Island. Looking around the incredible vistas is like stepping into The Misty mountains from “The Lord of the Rings” middle earth.....it's stunning.

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While walking around the township we discovered a hiking business that takes people on a five day walk from Queenstown, across the mountains and down into Milford Sound. For those of you unfamiliar with Milford Sound, it’s one of the most picturesque, unspoilt places on the Earth with waterfalls cascading thousands of feet into the ocean, wales, dolphins, and soaring mountain ranges. All good!

We’re pretty excited about going on the hike in just under two years’ time (we’re doing a lot of other already planned travel this year) but there’s one problem. We need to get a LOT fitter. To paraphrase Borimir from Lord of the Rings, “One simply does not walk into Milford Sound through the mountains. There’s ups, downs, river crossings and a host of other obstacles in the way.”

So we have a goal…..lose weight (which is a good thing) and get a lot fitter. Goals can be like New Year’s resolutions that are forgotten after the first week or you can choose to take them seriously.

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