Experiment – Snap up 10 domain names and sell them exactly 10-years from now.
Background – Tons of domain names expire every day as a result of owners who’ve forgotten to pay the renewal fees, or who never got around to building their site. Most of these domains are horrible of course, but there are a few gems in the rubble. Pizza.com went under the hammer for $2.6m, and since then I’ve quite fancied having a punt on some domains.
Methodology – Employ Dnxpert.com to identify recently expired domains. After you’ve applied every coupon you can get your hands on, each domain comes in at $7.15 (for 1-year of registration) with GoDaddy.
Hypothesis – The hopeful result is that one of the domains might just about cover the registration cost for all the domains for 10-years.
Here are the candidates:
Update: Okay, okay, I got a little carried away. The domain count now stands at 12, which is a pity since it ruins the catchy title.
Update #2: I wasn’t really making a penny from hosting the domains with Sedo, so I’ve now redirected all the above domains to this blog post. So if you’re reading this and are interesting in purchasing one of these domains – please send me an email to begin negotiations (to give you an early ballpark, each domain will go for a couple of hundred dollars).
Update #3: First domain sold! I created a wee mini-site to showcase the domains instead (keithmander.com/domains).
A spate of articles have recently popped up on the topic of virtual real estate, also referred to as site-flipping.
On the one hand, top-class publications have helped legitimise the business model; whilst on the other, it brings it a heap of attention (which may in turn bring unwanted competition).
Spot any other articles? Please let me know.
Update: Sitepoint published an excellent ebook called “Flipping Websites: For Fun & Profit”. Thanks to a partnership with Flippa, you can download it for free. It makes for a superb starting point for learning about this space.
Continuing on from my eBay Tips ‘n Tricks post, I figured I’d share some titbits on effective outsourcing (ala “best practices” and all that yucky corporate spiel).
I’ve generally had good experiences with outsourcing, although there have been some occasions where things have been lost in translation, or where the output wasn’t quite what was in mind. The main stumbling point is that it’s all too easy to assume that the other person perfectly understands what you’re on about.
I’ve found it a real boon to use screen capturing software to record videos that explicitly demonstrates exactly what it is that I would like done. Here is an example video that I recently used (I’ve sped it up to mask my voice):
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Here are some other tips & tricks:
- Essentially anything that can be performed on a computer can be done by someone else (design, coding, and data entry are firm favourites). The only thing that cannot and must not be outsourced is activities that draw on your our own expertise.
- By all means use a NDA if you’re concerned about disclosing trade secrets. However, be aware that it’s likely to put off potential bidders. Plus, are you really going to take action against anyone who breaches the agreement? You’re best bet is to skip the NDA and instead be deliberately vague in your project brief, only then to divulge the specifics to the chosen contractor.
- If you’re not sure who to pick, then pick them all. Have a group of contractors work on a sample part of the project (eg. 1-2 articles for a 50 article site). This will become cheap and highly effective screening process.
- When posting a project on an outsourcing platform, state that the project is quick and easy to complete. This helps set expectations to bidders, driving down the price.
- If you’re clueless about programming and worried about the quality of the work produced, why not hire another party to perform a QA of the code.
- Always make sure you have a clear agreement in place that spells out how owns the finished output and what the rights are for the contractor.
- After working with someone for a while, begin to hire them from outside the platform. They’ll appreciate bypassing the commissions paid to the platform, and you’ll benefit from more dedicated attention.
- Once you’ve found someone super good, keep your hands tightly around them so that they’re kept busy and don’t drift off. Even consider putting them on the payroll so that they’re not tempted to work for someone else.
- Another top tip that I’ve recently had great success with is to not only use video to train your freelancers, but also ask them to provide you with videos when they’re performing the task. This way, you can QA their work and provide feedback before they commence on larger parts of the project.
- If you’re getting a coder to upgrade an existing script, consider using a version control system (such as Subversion) to help track changes made – allowing you to see the quantity of changes made.
- If you ever get to the stage where you’re using multiple freelancers, consider hiring a team leader. Then you’ll only have to deal with one person who can take ownership of delegating tasks and managing multiple relationships.
- Consider using an open ended brief for one of the early tasks with a new freelancer; this way you can test their creative freedom and see if they can add value to your business beyond just what you’re able to envisage.
Update: Another tip added.
Update #2: Another tip added.
Update #3: More and more advice has been added. Consider this to be a ‘living’ document.
A buddy has just launched EYESTAT - a nifty tool that depicts statistics with groovy-ish graphs. The site sucks in data from sources like OECD, then does some stuff I don’t understand with the graphs API from Google to serve up the interactive graphs. Will be interesting to see how this develops.
▪ Tags: Internet ▪ Published:
7th September '08
Whacked out a very limited print run of exclusive BusSongs tees for the people who’ve helped out with site over the past couple of months. Might as well also make them available to my beloved blog readers and the nursery rhyme fanbase, albeit for a nominal sum of €13 (plus P&P). Enquire within.
▪ Tags: Business ▪ Published:
7th September '08