Today I ran into an old friend of mine. He picked up an entrepreneurial quest and has begun creating his own product. Keeping with times his product is a website powered with some cool technology behind the scenes. He described me the challenges he had in narrowing down a domain name and obtaining the same.
Boy! it is tough to get a good memorable .com address. He did find a few sites that were hoarding the domain names to resell at a higher price. Gone are the Adam Smith's (The Wealth of Nations) days of 17th century when folks hoarded grains to resell at a higher price during famine. Now it is the domain names, movie tickets, and electronic gadgets that merit the high price tags. My friend was resourceful and patient. He worked on the word list from his GRE days to pick suitable pairing of words that can be memorable and eventually found used good negotiations to obtain his favored domain name. He does not want to tell the name till he gets his stealth startup into beta stage.
Another thing that I learnt in the conversation is that the domain name sale is such a profitable business and filled with negotiations that it has given new life for used car salesmen :) The seller on call basically wants to sell the domain name in 10 minutes - they quote a price that is valid for 10 minutes after which there is no guarantee on what the new price might be. Forget the fact that no one would have chased the same domain names. Still it is fun to dangle a price in front of the buyer to entice the buyer to make the commitment rather than walk away to his or her second choice.
Anyways, I should remember that the domain names are pricey!
Boy! it is tough to get a good memorable .com address. He did find a few sites that were hoarding the domain names to resell at a higher price. Gone are the Adam Smith's (The Wealth of Nations) days of 17th century when folks hoarded grains to resell at a higher price during famine. Now it is the domain names, movie tickets, and electronic gadgets that merit the high price tags. My friend was resourceful and patient. He worked on the word list from his GRE days to pick suitable pairing of words that can be memorable and eventually found used good negotiations to obtain his favored domain name. He does not want to tell the name till he gets his stealth startup into beta stage.
Another thing that I learnt in the conversation is that the domain name sale is such a profitable business and filled with negotiations that it has given new life for used car salesmen :) The seller on call basically wants to sell the domain name in 10 minutes - they quote a price that is valid for 10 minutes after which there is no guarantee on what the new price might be. Forget the fact that no one would have chased the same domain names. Still it is fun to dangle a price in front of the buyer to entice the buyer to make the commitment rather than walk away to his or her second choice.
Anyways, I should remember that the domain names are pricey!
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