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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.

Is It Too Late to Make Money in the Domain Business? Ask the Guys Who Just Sold Meet.me for $450,000 

One of the questions I am most frequently asked is whether or not it is too late to make money in the domain business? Obviously, I thought the answer was "no, it's not too late" when I entered the field in 2002 (a time when a lot of others were getting out).  Over the past decade my answer has always remained the same. Despite the amazing number of twists and turns we've see in this industry over the years there is no business I would rather be in than this one right now.

The opportunities may not be in the same places they were ten years ago but there are still endless ways to make money with domains - in fact I would say there are considerably more ways to do it now than there were when I came in. The latest case in point came today from three well-known industry veterans who branched out from their .com roots to make a killing with the sale of a single .me domain they co-owned.

Three years ago Rick Schwartz, Michael Berkens and Ammar Kubba pooled their resources to invest in a handful of high quality one-word .me domains, including Meet.me - a name they paid $5,890 for. They just sold it for the astounding sum of $450,000

Clockwise from top left: Michael Berkens
Rick Schwartz and Ammar Kubba

Berkens provided the details on his blog today and noted how gratifying it was to prove (once again) that the success he, Schwartz and Kubba have had (and continue to have) is due to far more than being among the "lucky" ones who got into the game early. They continue to make money from the new opportunities that crop up with every turn in the domain road. That's the mark of successful serial entrepreneurs - not people who lucked out by simply being in the right place at the right time on one occasion a long time ago. 

In fact, luck has very little to do with it. It takes a  lot of hard work - often years spent gaining the kind of experience that allows you to recognize opportunities that others miss. But if you are willing to put in the work, do the research and take the calculated risks that all entrepreneurs have to take - you can make it in this field too and I continue to believe your odds are better here than just about anywhere else in today's economy.   

One other note today, Kevin Murphy has an important story at DomainIncite.com that shouldn't be overlooked as it could portend of some trouble ahead for ICANN's widely publicized new gTLD program that is scheduled to ramp up in 2012. Kevin's article is about CRIDO, an imposing new group that includes some of the world's largest corporations who are all bent on stopping the ICANN plan in its tracks. At this late stage of the game that will be a tall order but the firepower this group could bring to bear shouldn't be under-estimated by anyone who has an interest (favorable or unfavorable) in the rollout of an unlimited number of new gTLDs.

(Posted Nov. 10, 2011)


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