03/05/2021
Common beginner mistakes to avoid while starting out.
Typos
Typo domains can be very tempting when you first start out flipping domain. They are easy to find unregistered and it’s easy to convince yourself that Reebok is going to buy the domain Reeebok.co.uk from you for £10,000. Honestly, they probably won’t. Most people navigate to sites using search engines and typo domains are becoming increasing irrelevant.
This crosses into a niche called “Typosquatting” where a typo domain is bought with the prime objective of redirecting the user through affiliate links or adverts. (e.g. Reeebok.co.uk being redirected to an affiliate site selling Reebok trainers) This is a slightly dodgy area to operate in and I can’t imagine this will be a very long-term income stream.
American spelling
I have fallen for this on a few occasions. You start by seeing a great domain that is coming-up for suspension and drop. It ranks highly for search traffic and keywords. You register it quickly and soon realize you have bought the American spelling version of a .co.uk domain. (e.g. Theatre.co.uk vs Theater.co.uk ). It’s always worth double checking before pulling the trigger on a domain purchase.
Trademarks
Please don’t be tempted with Trademark domains and always check for trademarks before purchasing a domain. If you start registering trademark domains you can quickly find yourself getting legal letters or Nominet disputes landing on your desk. Take my advice – it’s not worth the hassle.
Dashes/hyphen domains
Hyphenated domains may look tempting at first glance. They can tick a lot of boxes. Full of juicy keywords and usually free to register, but they’re free to register for a reason. Nobody really wants them for their business. Don’t waste your time or your money trying to flip domains with hyphens in. Simple.
Going on a buying spree.
The euphoria of registering every thing you could lay your hands on out there, most times leaves you with crappy domains with no resale value
For a beginner, it's best to start slow, buy a few, try selling them. Then gradually ease yourself into it.
Target prospective buyers based on their perceived economic status, without any insight into the industry you’re targeting. “Lawyers seem to do well,” you think, “maybe I should start selling names to them.” So you rush out and buy a bunch of domain names you think would appeal to the law firms you’ve identified as potential buyers.
Without knowledge of the space, you may not know that the American Bar Association and other industry-specific organizations set rules that govern some aspects of legal advertising. You’re not going to strike gold selling names your target buyers can’t use.
Understand your audience, and the sales will eventually follow.
There is always a learning curve in buying domains with the purpose of reselling them. What you have here is just a snippet. To learn more, visit Uthmandomains.com
