.Com Strategies Podcast where you will learn key insights into valuing, marketing, brokering and selling your domain names.
In today’s episode I talk about understanding the value versus budgets.
Why this $100,000 domain name offer was no beuno
POINT #1: What does your cleaning crew offer you?
- Chris points out the fact that most companies don’t pay attention to the long-term value of a domain name.
- Don’t let the initial price tag scare you; do research to understand the long-term value of a clean interface to get across to your customers and consumers. investor said that it was not worth the price and their current domain name was good enough.
- Chris made the point that when a bigger company looks back at the price of a domain, it could be around the price they pay for a cleaning crew or janitor, and what over all value does a janitor give to that kind of company?
- Looking at it like this, does it not make sense to add irreplaceable value to your company for the price of an office cleaner?
POINT #2: How much you have vs. How much you can afford?
- The question here isn’t how much you have, it is how much you can make through this investment.
- How much can this investment make you long and short term?
- What is the difference between what the domain is worth to you and what you can spend?
QUESTION OF THE DAY:
Are you doing the research that is necessary to see how important a domain name investment is worth to your business now? In a year from now? In five years from now?
QUOTE OF THE DAY:
“That all that we have and that’s all that we can afford; that is two different conversations.”