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August 27, 2012

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Five Years in the Making - Domain Pioneer Marc Ostrofsky Tells Us About His Book Get Rich Click! That Hits Stores on Monday 

Marc Ostrofsky was one of the first people I heard about when I entered the domain business in the spring of 2002. He was already a legendary figure in the industry, known worldwide (as well as in the Guiness Book of World Records) for his 1999 sale of Business.com in a deal valued at $7.5 million (Marc had purchased the domain for $150,000 just two years earlier!)  

Naturally I was delighted when I had an opportunity to meet Marc in person and over the years I've spoken with him many times and always come away from those encounters feeling like I have learned something new. 

Not long after we first met, Marc told me he was working on a book about how to make money on the Internet that would be called Get Rich Click!  That was several years ago and every time I saw him after that he was still working on and excited about the book project. 

All of his hard work finally comes to fruition on Monday (May 2, 2011) when Get Rich Click! will be officially released (you can order it from a number of locations now and have the book in yours hands next week - I'll tell you more about that at the end of this article). Having read several chapters already, I can tell you it was worth the wait.

Marc Ostrofsky
Author, Get Rich Click!

For more on the book and the path Marc followed to create it, I hooked up with him for the interview below:

DN Journal: Marc, I don't recall exactly when you first mentioned the book project to me, but I know it was several years ago and that you have been pouring your heart and soul into it ever since. How long have you spent creating Get Rich Click!

Marc Ostrofsky: Ron, I've been working on Get Rich Click! for 5 years. Yes, 5 years! The idea started out as a simple book but evolved into a real project where it's more than a book. There are 100's of ways entrepreneurs are making money online and the more I researched, the more I found. Leaving out great ideas isn't in my DNA....so I kept adding to the book.

DN Journal: Five years is a big chunk out of anyone's life and you didn't need the money, so why did you decide to write it in the first place?

Marc Ostrofsky: I wrote Get Rich Click! because I am always asked "how can I make money online?  You keep doing it, can you tell me how I can too?"  So, I decided to do exactly that.  My own sites all have a different business model.

1. SummerCamps.com - One person working from their home selling ads on the site. The site is the #1 site for the keyword Summer Camps and lets parents match their preferences to help find the right camp for their child.  If they want archery sites in Chicago, put that into the site and a list of sites that match your requests will pop up.

2. Blinds.com - #1 on the search engines - and the largest site selling window blinds and window coverings. But we have ZERO inventory. ZERO warehouse. No products at all. Everything is outsourced and drop shipped...the business model is just amazing.

3. CuffLinks.com.  #1 on the search engines also. We sell cuff links.  The internet is made for niches...that is, "Riches are in the Niches" and CuffLinks.com is the poster child for that statement.

4. eTickets.com - I simply point the traffic to a site that sells tickets. They populate the site with great data about concert, broadway and sports event tickets, they sell the seats and give me 10% commission for everything sold.

5. Domain Names.  Buy, sell, lease, etc.

6. Affiliate marketing.

The bottom line was that it became apparent that just a little research to look for the "highest and best use" of a domain name was a successful and easy way to make money. Add to this, 100's of other ways to profit and you have a winning combination.

DN Journal: You've been in this business for a long time and I know that you have been involved in a lot of business endeavors in addition to the ones you just mentioned. Tell us about some of those and how those experiences helped you hone the strategy you wrote about for making money online.

Marc Ostrofsky at the 
2006 Domain Roundtable 
conference in Bellevue, Washington

Marc Ostrofsky: I have been here a lot longer than most of my contemporaries. I'm going to be 50 years old this year! I was in the private pay phone industry back at the time of deregulation. There were a lot of new markets evolving at that time (similar to the many opportunities now with the internet). I was involved in creating magazines and trade shows in pay phones, long distance service, 900 numbers, 976 numbers, voice mail, voice processing, telecom opportunities, prepaid phone cards, prepaid cellular and a host of other new opportunities tied to deregulation. Take that information and knowledge gained and apply it to the internet - and we have a lot of winning bits of data that, when put together, prove there are a lot of ways to profit in this market.

I have done 100's of interviews of successful entrepreneurs and asked how did you make so much money online. A firm called "Clickbank" was a common response. This firm is like a digital 

Amazon where all of the products are digitally based (audios, videos, written words, etc.) and each product for sale offered a high commission (up to say 70%). So if you create and maintain a mailing list of 50,000 people and you try to sell that list a $30 item with a 70% commission and only get a 2% response, you are looking at 50,000 x 2% or 1000 people with a $21 per sale or a profit of $21,000 to you.

DN Journal: From the beginning you told me the book you were writing would be about much more than domains and the final product shows that. But that being the case, why should the domain community have a special interest in a book that has a much broader focus?

Marc Ostrofsky: I'm a domainer at heart. But there are SO MANY ways to make more money online that I felt compelled to write this book from the point of view of a domainer. What really got my blood going was this fact. Take MutualFunds.com. I see major firms spending big bucks with Google to buy the keyword that I own the domain name of.  They spend a lot of money and I get half. Why don't these firms buy the name MutualFunds.com, get 100% of the viewers from the site, stop spending more money on the site, keep 100% of their competitors off of the site and write off the purchase of the website!?   Seems logical but corporate America just doesn't get it.

DN Journal: This business is constantly changing. What do you think are the best ways to make money today?

Marc Ostrofsky at the 
2008 T.R.A.F.F.I.C. West 
conference  in Las Vegas.

Marc Ostrofsky: The truth is, it depends upon how much time and money you have. But selling affiliate products with a high commission tied to your keywords seems like a brilliant way for people  to make more money with domain names.   

DN Journal: Not having a lot of money available to invest is a problem for a lot of people. You have a chapter called "How to Make money With No Money." Tell us about that.

Marc Ostrofsky: This is my favorite way to make money (for the masses) - Find a product you THINK you can sell. In fact, find many such products that you find cheap enough that you think you might be able to sell them online - say on eBAY. List the products for sale - with a minimum price that includes a small profit for you. Sell the products and maybe make a few more bucks on the shipping charge.
Collect the money. THEN - go buy the product and fulfill it.

Bottom line...you don't need to buy it, finance it, warehouse it, then wait to sell it. The internet allows you (and say Blinds.com) to sell it THEN buy it.  Sell it first, THEN buy it.  It is simple and it works!

DN Journal: Thank you Marc and best of luck with the book.

Some of the other topics covered in Get Rich Click! include: 

* Comparing Domain Names to Real Estate

* Turning domain names into websites

* How to make money with Social Media including Facebook, Twitter and YouTube.

* Making money with Affiliate Marketing, Lead Generation and more

* Hundreds of other money making ideas and case studies that are working for others 

Places you can order Get Rich Click! now  include Amazon.com, Barnes & Noble and at GetRichClick.com (GetRichClick.com will also let you download two free chapters to sample before you buy. The site is also giving buyers $500 worth of free advertising coupons on sites including Google, Amazon and MySpace).

(Posted April 29, 2011) 

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