These 2 Domain Entrepreneurs are Rich

December 10, 2006 at 8:21 am Leave a comment

These 2 brothers are rich because they had foresight .

David said, “If you have the money, purchase the best domain name you can get your hands on.  But remember the golden rule: a domain name is only worth what you can do with it. We’ve turned down $5,000,000 for PalmSprings.com and didn’t think twice about it because we’ve monetized it so well.  However, in someone else’s hands, PalmSprings.com could have been parked or less developed and worth nowhere near as much. If you have the talent and vision to develop a generic mega-domain, please give people like us a call.

“Whatever you do, learn to trust your instincts. I will always be grateful that in the music business you have no choice but to trust your instincts. Way too many sharks in those waters. If you truly believe in something, go for it and let no one dissuade you. And if you’re wrong, so what!? Learn from your mistakes like everyone else. And if you’re right, there’s no greater satisfaction. Go for it. Otherwise, you’ll always be one of the sheep!” David declared. 

David offered another secret of their company’s success. “We generate almost all of our revenue using static advertising rates. Static advertising is how traditional media makes their money. Magazine and newspapers charge a fixed rate based on ad size/placement and radio and cable charge a fixed rate based on time/placement. In 1997, I didn’t want to reinvent the wheel and the whole CPM/click-through method seemed like pennies on the dollar. I simply looked at traditional media and said, “These guys have it made. Why can’t we do that?”  Of course, everyone said I was crazy. But I persisted and that is the method CCIN utilizes today on its city sites. It is also the reason why the front page of PalmSprings.com alone generates nearly a million dollars a year in pure advertising revenue.” See the article  http://www.dnjournal.com/cover/2006/december.htm

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Entry filed under: Internet Startup.

Steve Jobs Speech – You have to watch this What Top Domains Are Selling For ?

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About Biz News

My Name is Bisi and this is my blog This blog features stories that I have read that I think are interesting . I usually bookmark the stories that I find interesting but they are getting too many . I have decided to catalog and share them on this site . I am not really promoting the site so you might have accidentally stumbled on it . Thanks for visiting .
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