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Last Updated on June 30, 2021 by Tyler Clark
Buy it Now
This may be obvious to a lot of people in the entrepreneur world and the business community but there are still some who don’t consciously think about this.
You must buy your domain name for your website now.
A website is a living, breathing piece of real estate that can be turned over, cultivated, updated and grown to incredible size.
It blows the doors off of any piece of land and the improvements on it are incredibly cheap.
The domain name alone is of incredible value.
If you have a good domain name in mind, buy it now even if you never plan on using it.
Here’s why..
Always Sell it When You’re Done!
Also, make sure you sell it when you’re done.
Many of the website names I’ve come up with and have since stopped using are now being used by other companies!
Remember collective consciousness? If you’ve thought of it, chances are someone else has too.
One of the first names I used for my business in the health and fitness field has now been bought by a large drug company (the domain name). Had I put that site listing for sale, I could’ve cashed in on selling it.
Another company name I came up with (which I can’t disclose) is being used by one of my old partners as his DBA name. Turns out that he still likes using it 8 years after we dissolved the original company name. Your brain is dreaming up money ideas like this all the time and it’s important to realize their value.
Never give away a domain name!
What Makes a Website Valuable Real Estate?
Value #1: A website is valuable because it’s an online journal of content and thoughts. A site will help you focus your thoughts and log them. Remember, thoughts in your head are content. If you’re not ready to start putting your face all over your blog, that’s ok. There are many many mediums out there you can go with instead. If you’re in the midst of your journey, it’s ok to start there too. Just start writing things down on the site. Thoughts, posts, content, whatever. Just start logging.
Value #2: The destroy and rebuild value. In real estate, when they knock down a house, they often say, they’re just going to “scrape it”. Scraping and rebuilding a piece of land is a major operation. In contrast, if you want to pivot with a website, it’s nothing short of a click of a few buttons. Sure you may have to get a developer to help you with some things along the way but it’s not like it was before.
Value #3: Easy to build on. You can build your site on beautiful templates that are $50 dollars! They’re literally ready to go and there’s lots of functionality with changing colors, widths and styles. It’s actually a lot of fun.
I remember having to send $50 to my web developer to add a paragraph on my about page. Gone are those days! Now you can do it yourself and it’s really easy. I urge you to get your feet wet.
Value #4: Another bonus of a website is that proximity doesn’t matter, changing conditions don’t matter, floods, fires and insurance claims don’t matter. Your site will handle them all with ease and you can put something on there now or in ten years and it will be as fresh as the day you thought of it.
Value #5: Carrying costs. Unlike a regular piece of real estate that has many associated carrying costs, your website is really cheap to maintain.
First, it doesn’t age. I just can’t point out how valuable that is.
Second, costs are still really low in this day in age. the average site costs $10-20 dollars a year for the domain and $3+ dollars a month for hosting.
If you get one client, or run a few ads or build a member site, you’ve paid for it in no time. If not, the costs won’t change a thing and for the cost of a cup of coffee, your future idea is safe.
Grab Your Social Website Real Estate Too
Make sure that if you have a great name that you go and pickup the names on all the social media spaces too. If you ever go to sell all this stuff down the road, you’ll have control of this platform across the net. This is very valuable to have.
So get out there and start making some online real estate acquisitions while you still can.
In today’s world, currencies, bitcoin and real real estate is still fluctuating greatly. One area that still tends to be a good bet is your website.
Get out there and buy it today.
Best of Wealth,
Tyler
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