Home Domain Flipping entrepreneurship Making money online 9 Mistakes keep Away from when Flipping Domains
As many look up to earn online from home domain flipping is always available as an option. This involves buying and selling domain names. With many poeple into the business it has some challenges Being aware of this challenges does not make you the best. his is very common with newbies in the flipping business. Once you get in there are many things you have to do in order to make sales . However there are some mistakes you need to avoid when flipping domains. In this post we will see mistake #1-#9 and you will contribute in making the tenth mistake or correcting it. Some common mistakes you can make as a domain flipper includes:
1. Buying many domain names for the start.
You need to research more for the start than buying more domain name. Get one to five and hold tight to them while hustling.
2. selling domain at a lower prize
This is very common even with the pro fliipers. You have to be strategic when making a deal. For example if someone contact me for a domain deal, my prize will be higher than the prize i would have proposed if am the one who contaced the person. Equaly make sure yoou get to know the person who wants to buy the domain .
3. keeping your domains ‘’idle’’.
What I mean here is that some people keep their domain waiting for the buyer without making use of it.
4. Lack of proper marketing strategies
In an effort to market your domain. You might become a victim of spamming since you are eager to send bulk emails.
5. Expecting sales
I understand how eager you might be to make your first deal. Well, don’t be expecting that. Focus on the best strategies and selling a domain name will be something normal to you. It is not what we call in my country ‘’Buyamsellam’’. There is some work to do to make conversions.
6. Need Big Cash
Hey, my friend doesn’t put the prize of your domain at $7000 because Ali Zandi made 58,000 dollars profits on 8 domains. His strategies, domain age and others might not be the same like yours. Cut your coat according to your size. If you cannot set good prizes for your domains they might end up renewing your domains forever. Selling many domains can also give you big cash than focusing on getting thousands of dollars on a single domain. If , you can sell ten domains at lets say 100 dollars each, then $1k is at hand with an investment of about 100-150 dollars. That is good business bro. Rome was not build in a single day.
7. Buying irrelevant domain names
As a domain flipper you should be aware that people know where to buy domain names. Avoid buying long domain names such as myvillagemycountrymytown.com.
Very few people might be interested in such domain names.
Another irrelevant domain type will be domain with hyphens. The only selling domains names with hyphens are domain names that contain key word.
For example : learning-english-online.com can be a good domain
But bill-consulting-group.com might not be a good name to buy.
In order to be on the safe side avoid domain names with hyphens, till you understand the rules of the game. If not you might just end up sharing some bucks to big names like Goddady and Namecheap in the name of domain flipping.
8. Allowing domains to expire
When I started blogging, I was using the free .blogspot.com domain. Someone purchased my domain name domain name ransbiz.com when he noticed my blog was doing well. I noticed this domain name was actually on sale but was scared to contact this person because it will raise awareness and cost me more cash.
I decided to wait for a whole year to see what this flipper will do. Unfortunately for him, he allowed the domain to expire which I happily bought on Godaddy. Can you get my point?
As a domain flipper try to increase your risk. The moment to make the big cash might just be near.
9. Being an Anonymous Seller
In today’s generation everyone likes to know a little about the person he or she is doing with business. When you send business email to potential customers it is always necessary to have a social media presence which will permit them to get more information about you. Make sure your profile are updated and ‘’rich’’. If possible attach links to your social media profiles when contacting potential clients. This equally gives the buyer some confidence in making a deal with you. Don’t be known as ‘’Mr Paul Nkwetacha ‘’ in your email that cannot be found anywhere online. It just like ending a quotation with ‘’anonymous’’.
10. what mistake can you add ?
Do you know the advantgaes of Flipping a domain? Check this write up