Domain Names & Websites Being Virtual Real Estate
Look at domain names & websites as virtual real estate. The domain name is the raw parcel land. No building or house, just the land.
Real estate is about location, same goes for digital real estate.
The more the world transitions into the digital world, the more valuable this virtual real estate becomes.
Having a good domain name on the internet is like having real estate in a highly sought after location.
What makes a "good domain" name?
The best names are the short ones related to a niche. Other good ones are searchable keywords or short keyword phrases.
What can you do with these domain names?
1) You can either hold the domain name and have it a "parked domain name"
2) Flip the domain name.
3) Develop the domain name into a website; Affiliate website and earn passive income.
Websites - Now when it comes to websites, you can look at the website as a completed furnished building. Commercial building, single family home, multi unit complex.
On the virtual side we have :
Affiliate Website, eCommerce, Dropshipping
Remember when I said look at this from a real estate point of view. When we buy the land, which is the domain name.
Now we are doing to build the structure. We need a foundation and frame, this is the website hosting. You need website hosting to hold all your website's information and content.
You can use website hosting companies such as GoDaddy or HostGator.
Now you have to decide what type of building will it be. Decide which website business model you want use: Affiliate Marketing, eCommerce, or DropShipping.
This also goes into the design of the website
Each has its pro and cons as we mentioned in a previous post.
For this example, we are going to build an affiliate marketing website. Where we promote other people's/business product (affiliate product) and get a percentage when we make a sale.
Once you have your building established, we need to furnish the building. This is where we create content for our website, related to the affiliate product we are promoting.
Next step is to market and drive traffic to your website.
Now once we have our website completed, we can either keep the website to create passive income. Or we can sell the website as it is.
Keep in mind, that It is more attractive to sell a website that is already established making revenue.
The Wrap Up
Those were two digital asset business models to create passive income. This is just another arsenal to add to your hustle. It checks the mark of asset ownership and creating multiple income streams.
I hope this blog post sparked thought, so you can take action and live that financial freedom