Should I sell or should I keep domain name I bought/.
I am looking at investing $6,000-$8,000 in expanding my business of building website to include specific SEO services. Iíve already picked up $200 a month residual income in the last few months just offering this to existing clients and as an add-on service. This could be a whole topic in itself. The purpose of this post is about the DBA and domain name I bought.
It is SEOElves.com Short 8 letter two word domain name that is easily branded. Branding would be done with a hard working elf, not a Keebler type elf to give the feeling of working hard and maybe a bit of mystique.
Someone mention, that because of how little I have in it and thought it may be a high value domain name, I would be better off to sell it and use those funds versus pulling out of my own pocket for the start up cost.
I understand it is not something that would happen fast and short of a paid appraisal, I was wondering what people thought the value of a domain name like this is would be? Or is it just goofy and I should stay on track by keeping it.
More questions than answers
Four Questions (I'm better at questions than answers and sometimes questions are better answers than declarative statements in any case.)
1st Question: how could it be worth more to someone else than it is to you?
2nd Question: if you have the money to spare, and knowing it is OK to use it to expand if you choose, what expansion costs are there that would require the expense up front in money rather than in work and time? (Of course this comes from my perspective as a control freak. Personally I would invest a certain percent of profits into expansion as the money is needed in any case. Unless you are purchasing a lot of specialized programming and the like, I usually find that I can't learn how to use my tools faster than I can afford to buy them and it doesn't pay to have a fancy camera or whatever sitting in the closet or a program on my computer that I do not know how to use.)
3rd Question: what makes anyone think that or any domain name is worth that kind of money? I guess people do pay for unused names just because they are reserved, but the big money people pay for domains is rightly based on the reputation they have, proven income, established link source etc. If you are talking about an unproven name what gives it any real worth to anyone but an uninformed newbie?
4th Question: do you have an alternative name that you think would work just as well and will you be happy with it five years now if you see someone else thriving with the "treasured name" you sold off even if you got a good price?
Website: Success With Money
"People will forget what you said, people will forget what you did, but people will never forget how you made them feel."
First of all, you cannot go wrong with keeping a nice little .com domain. They can only increase in value. Secondly, it is difficult to value a domain like that. You can put it in auction with a reserve price if you like. If you don't get the money you want you can keep it.
Well, I just spent another $12,000 expanding the business. A bit nervous and excited at the same time. I am also getting an intern and considering a possible part time employee. I have been trying to avoid employees, but I find it is limiting my time and income if I do.
So, I am keeping the name because I think it is a great name and the better it is the better I should be able to brand myself. I do not know how many people follow existing posts, but here is a sneak preview of my elf. I have designed in multiple poses.
Last edited by Bill the Builder; 03-26-2014 at 10:02 AM.
I like it. It is fresh and welcoming. Good luck.