It’s a low-effort, low-risk business
Less effort is always good…
If you’ve ever been involved in any other form of online business, you probably already know that many potential moneymakers have one big drawback. Whilst there are plenty of opportunities to profit, there is also a lot of work involved and effort required as well. For example, if you build a website to sell a product or service, it is necessary to populate it with content, and that content must come from somewhere.
If you’ve ever sat down to write 20 or 30 articles, I don’t need to tell you how much work there is involved. The fact is that with most online business models, the money you generate is almost always in proportion to the amount of time and effort you sink into getting that business off the ground. This should not necessarily deter you from following your ambitions but at the same time, you must understand that it takes effort and hard work to succeed in most businesses.
This is not however true of domain flipping. This is a business based on learning to recognize potentially profitable opportunities before ‘investing’ in them. After this, it’s a question of locating a willing buyer – which should not be difficult once you know how to pick a likely ‘winner’ – before selling the domain to them at a profit. Thus, there is a learning process involved (which starts here) but apart from this, flipping domain names is an almost zero-effort business. And what could be better than this?
It’s also low risk…
The attraction of the domain name flipping the model doesn’t end with the minimal effort that is required to make money however. You can add the fact that it’s also a very low risk business to the list of attractions as well. There are several reasons why this is the case. To begin with, you don’t need to risk a lot of capital to get started in this business.
Instead, you can buy domain names for around $15 each and sell them for two, three, four, even ten times what you paid for them as long as you have bought wisely. In effect, no matter how little money you have available to get started, you have enough to get the ball rolling. But even if you occasionally buy a domain that you cannot sell – and it may happen, particularly in the early days – you’re only a few dollars down. If you’ve ever been suckered into paying hundreds of dollars for socalled ‘online business training materials’ that were ultimately worthless, you’ll no doubt appreciate that with just $15 ‘risk money’ at stake, this genuinely is a business that you can start with almost nothing.
Ultimately, the thing that sets domain name flipping apart from almost any other online business model is the ability to utilize almost unlimited leverage in your daily marketing activities. Here’s what I mean. By following the advice and ideas that you are just about to access, it’s not difficult to pick up an attractive niche targeted domain name for $15 that you subsequently sell for $30 or $40. Now you can buy a $40 domain that sells for $150 after which you can buy a $150 that sells for…well, I’m sure you get the picture. Alternatively, you might buy two $20 domains with your $40 in an effort to ‘spread the risk’ or three $50 domains with your $150. Again, it’s up to you, dictated by your personal approach to the business, your attitude to risk and how much of your growing ‘pot’ you want to withdraw from time to time. Nevertheless, no matter how you approach this business, it’s one that you start off as small as you like and grow as big as you want. And let’s be honest, there’s not many businesses where this can be said with any degree of truth or conviction.