- Forgetting which email is listed as the owner
- Indecisiveness on whether to renew the domain name or not
- Ignoring the notification email from the registrar
- Missing out (due to the spam box or other reasons) on the registrar notification email
- Person that was responsible (and his email) left the company
- Domain owner doesn’t control the email listed as the owner
- Domain owner forgets completely that he owns the domain (could be he/she registered with a registrar he/she doesn’t usually use)
- Owner forgot to renew the domain where his email was on (the email can’t work without the original domain name)
- Owner forgets to set up email forwarding from “email on WHOIS” to “email he/she reads”
- Domain owner doesn’t have an “auto-renew” option on the domain name
- Credit card on file is expired, so the “auto-renew” never takes place
Another great way of decreasing the chances of domain expiration is by registering the domain name for the next ten years. If you are serious about your business $100 shouldn’t pose a great expense, and the risk is reduced significantly in the next 10 years.
Recently I mentioned Ray Dalio’s “All weather investing strategy”. In case you haven’t heard of him or his strategies, don’t worry, neither have I until couple years ago. But that doesn’t mean we can’t learn from the guy whose company manages about $150 billion in global investments for approximately 350 of the largest and most sophisticated institutional clients.
So, here’s what the all weather investing strategy says about a simplified diversified portfolio. Last week I shared a video where I read a book about gold.
According to Ray Dalio, gold should be a 7.5% part of your portfolio. You know what else should find 7.5% in your portfolio? Commodities! Some of you may be asking, OK, what’s a (good) commodity? I, like many, drink coffee every day. So coffee is one commodity. You need fuel to drive your car, like many, so oil is another commodity.
Coffee and oil have been around for a while, and so have most of other commodities, however in the past 20 years, world has changed a lot, and Internet became ubiquitous. Also when it comes to commodities, it’s good to find those where you have some industry knowledge and experience. According to Investopedia, domain names are a hot commodity!
With people like Paul Stahura and Frank Schilling leading the new domain extension program, you don’t have to worry about domain names dropping out of this category for at least another decade. My recommendation for good domain names, buy and hold. In 10, 20 or 30 years, some of those will be worth a fortune.
I am putting money where my mouth is, so recently I started building my domain portfolio. Should have done it earlier, but like many, I feel into the trap of “it’s too late”. This is me building my domain portfolio http://duskic.com/domains
Back in 2012 I though it would be a good idea to invest in old and short domain names. I bought 3 of them (four letter .com domains) for about $2000. It was a lot of money for me at the time, but I thought it was a wise investment. To my great disappointment, this isn’t one of those stories where the post ends with thousands of dollars in profit. I am just starting! But if you stick long enough, who knows! As for the 3 domains I bought in 2012 I was able to liquidate really quickly in early 2014 when I needed the cash! Although I didn’t make a ton of money, I also didn’t lose money! Which is great if you want to liquidate assets quickly.
Fast forward to today I started building a real domain portfolio. Few things fall into place. We were able to finish the development of several tools at WhoAPI (like WhoAPI domain checker), domain manager and domain monitoring! Second thing that happened was that I fell in love (happens to the best of us) with an amazing illustrator, so I am able to combine spectacular logos as a bundle with a domain name. Thirdly, Michael Cyger launched DNAcademy (affiliate link) where I learned a lot in a very short period of time about domain investing. And last but not least, I have more spending money then prior years, so I decided to invest instead of spending it on toys.
One domain name I mentioned already in one of my recent posts (sslgrid.com) I found with WhoAPI domain checker, but there are some I was able to purchase at various auction sites, and for some I negotiate a discount from other domain investors. Soon I plan to release a website where my entire portfolio will be available, after which I can go into details on every domain.
Is it really exporting if it’s done over the Internet? If you ask the law, yes it is, and you get all sorts of benefits. What if the product is digital? Again, the law that was created ages ago, doesn’t recognize the difference. The law says “it crosses the border, via the wire”. LOL
Selling a digital product like a .me domain or a an book overseas is easy like selling a lemonade on a stand in your street. So the second most exported product in a small country of Montenegro are domains. Could other countries do it as well?
Being competitive in a world’s economy is getting harder and harder, or easier and easier, depending where you sit. Will the law interfere? Will everything become so digital, that customs will have to change the way they look at things?
Will the currency become so digital that we won’t feel the impact of a strong dollar or a weak Kuna, or other currencies that are being used by only a few million people? I don’t know. What I do know is that .me is a great exporting opportunity for Montenegro that could have easily be copied in other countries, but it hasn’t.
Back in 2011 Marc Andreessen said that “Software is eating up the world”. Isn’t it about time we all jump on that wagon and focus on creating digital products? I would go further and say that it’s not software that’s eating up the world, it’s digital products! Kids these days don’t sell lemonade, they create videos and make money from ad displays. They develop simple games and software. Seniors write eBooks and sell them across the globe. As long as the digital product is providing value to the marketplace, and solving a problem, people will buy it.
So I am telling you, find a way to provide value and go digital, few people in Montenegro have, and they are creating that dent in the universe.