Buying Dropped Domains: Aye or Nay?

Those who are in the business of buying websites or starting their own from scratch will know that getting a domain is one of the most important decisions you could ever make. However, I dare say not everyone knows everything there is to know about buying dropped domains. In this post, I shall give a brief overview about the issue of purchasing dropped domains and the pros and cons of doing so. 

Firstly, let me define the meaning of dropped domains. Simply said, dropped domains are domains that have expired either by choice or by accident. If a domain owner did not renew his or her domain, then you can snap it up immediately which can be VERY beneficial to YOU. 

How so? Let me illustrate this better by using the following scenario. Mr. A owns a PR 5 domain with a very nice list of backlinks. His domain contains a pronounceable keyword, all 5 letters of it too! To top it off the keyword has rebrandable value and sounds very Web 2.0. Problem is, Mr. A is quite the domain tycoon and has no less than 108 domains to his name so naturally he can be quite forgetful and eventually forgot to renew said domain. Along comes Mr. B and voila, he sees the dropped domain that used to belong to Mr. A and “inherits” it in a flash! All Mr. B did was search for dropped domains at sites like this and that, pay for the domain and he gets everything Mr. A has worked so hard for. Unfair but things like these happen.  

However, buying dropped domains is not entirely a bed of roses. You may get scammed in the process, especially if you signed up with shady looking sites that promises you ongoing lists of dropped domains for a “a minimal, montly fee”. Also, unscrupulous sellers will try to peddle you dropped domains that boast of high PR but in actual fact, have 0 PR and was just created yesterday. All they did was redirect the domain from another similar site to make you believe that the site you will be paying top dollar for is a high PR domain. 

So you see, buying dropped domains has its own pros and cons. My tip is to weigh them out properly and use your common sense when posed with the question whether or not to buy dropped domains. Good luck!

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12 Steps To Constructing an Awesome Business Name

Creating a business name can be challenging, but with some hard work in choosing the right one, you should be able to reap the rewards later on.  Remember, a good business name is a good brand.  It should be memorable, not too short, not too long, and pronounceable.  Here’s a short list on how to create an awesome business name, and how to make sure it isn’t already a business.

1. Brainstorm.  You need to think about how you want your potential customers or clients to feel when they hear your name.  I recommend that you write these words down, and then organize them by their primary meaning.  Use bot ha dictionary, and thesaurus for this, as both will be able to show you how your words are related, and may even give you name ideas.
2. Relate your words even more.  You’ve already gone through the dictionary and thesaurus and related your words, no look up the Greek and Latin translations.  This will help you find out what other types of things such as colors or animals relate to your words.
3. Experiment.  Make a list of words, combined words, and two word names from the words, and translations you researched.  Now is not the time to judge them!  I can’t stress this enough.  You might just fall in love with a name you didn’t really like, and would have scratched initially.
4. How does that make you feel? No, you don’t have to go to a counselor for this step, but you do have to read your words and see how they make you feel.  Try seeing how they make you feel when you say them in your head versus when you say them out loud.  Is there a difference?  If so, it’s probably not a good choice.
5. Ask A Friend.  Here, you’ll be using one of those “Who Wants To Be A Millionaire?” lifelines by asking your trusted friend which names makes sense, and which ones he or she likes.
6. Prioritize, prioritize, prioritize.  You’ll be doing a lot of this with your business, so you might as well start with your business name.  Throw the ones out that just don’t work, and prioritize the rest in a nice list.
7. Check trademarks.  Make sure anyone else isn’t using any of the names on your list, if they are throw them out.  Yes, you can use the same name if you are in completely unrelated fields, but that might create confusion between the names, and no one wants that.
8. Check domain names.  If there isn’t a suitable domain name available for your proposed company name, I recommend throwing that out as well, as you will most likely be needing a good, relevant domain name in order to contact many of your customers and clients in today’s world.
9. Use Google.  Even if there isn’t a trademark or a domain registered, it doesn’t mean someone else isn’t using the name.  Google should help you find out if anyone is.  Now, in this case, it’s a judgement call whether or not to throw the domain out.  My rule of thumb is, if they don’t have a website, they don’t matter, but there are some little businesses that run completely off forums, or something because they don’t have need for a website.  If this is the case, I normally try and find out how many clients they have, and this will give me a good idea of whether or not to throw the domain out.
10. Check some more.  You are going to need to check company names, and assumed names.  In the U.S., you can check with the Secretary of State about company names, and your County Clerk about assumed names.
11. Claim It! Now that you’re sure your name is available, grab it before someone else does.  File all your paperwork with the appropriate places, and start using Trade Mark or Service Mark right away, as these don’t have to be registered, at least not in the U.S.  You should also register your domain name.  I recommend getting at least the .com and .net TLDs.  Others you might want to look into getting are the .info, and .us, if you are in the United States.
12. Buy It! Buying a Service Mark or Trade Mark costs $325 in the U.S., which is nothing compared to the court fees you could potentially spend defending it in a lawsuit.

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