Day 7- Develop one of your namesMike Sullivan
Now’s the time to put your money where your mouth is. You have some domains and you even think some of them are pretty good based on yesterday’s exercise. Well, develop one and see how it goes. This probably isn’t something you’re going to do in just one day, but you can start.
My point in this exercise isn’t necessarily for you to create a revenue generating cash cow from one of your names, but if that happens, please send your “thank yous” in the form of cash. The point is to get an understanding of what goes into developing a domain. Now not all domainers are in the habit of developing, but many are and most likely your ideal end user is as well. In fact, you may find it easier to flip a domain if you have a site developed on it. Even easier if that site is generating some income. Take a spin through a Flippa.com and see what some developed sites are going for. It could take your domaining efforts in a new direction.
I can tell you, developing a website on even the most precious premium domain name does not guarantee high traffic volumes, high search engine placement, or high profits. It can happen more easily on some domains than others, but keep the idea firmly planted in your mind that if you want this site to grow and be successful, you are going to have to put a lot of work into it. It also doesn’t hurt to put money into it as well (in the form of AdWords, professional design, SEO, etc.). DISCLAIMER: Don’t pour your entire life and savings into this exercise, unless you want to. I suggest just dipping your toe into the water to get a feel, live the experience. I could do without your significant other tracking me down telling me that I’ve ruined your lives because you’ve locked yourself away and have been working on this site, spent all your money, forgot to feed the dog, and haven’t showered in 3 weeks.
This will help you understand your end user better. You’ll be able to speak intelligibly about the effort that lies ahead, maybe make recommendations and suggestions. In essence, you’ll be able to provide some additional value based on your own experiences.