Investing in domains can be both financially rewarding and fun. But if you don't take your investment strategies seriously, then you could easily run into trouble.
If you're new to investing in domains, or can't seem to make your portfolio profitable, here are 10 questions to ask yourself immediately:
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If you're new to investing in domains, or can't seem to make your portfolio profitable, here are 10 questions to ask yourself immediately:
- 1) Do you have cashflow?
- 2) When was the last time you looked at your balance sheet and profit and loss statements?
- 3) Do you have a clearly defined business model for each of your domains?
- 4) When was the last time you cleared out non-performing assets?
- 5) Does your accountant know how to treat domain names?
- 6) Why is tracking both the purchase and the sales price so important for your business?
- 7) What is the return on your investment and could you gain a better return elsewhere?
- 8) How much do you value your time in your business plan?
- 9) When was the last time you seriously considered outsourcing to free up your time?
- 10) Do you understand the difference between cash and profit?
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