Category — Business Ideas

I never understood why anyone in his or her right mind would spend thousands of dollars on a single domain name.

It just never really made sense to me. I would understand the need for a simple domain name like car.com, if this was still the mid 1990’s where people had to type in a domain name directly. However, with the invent of Google and Yahoo, nowadays it is borderline insane to pay anything more than a hundred bucks for a domain name.

I recently found a published a list of domain names and how much each sold for.

The highest selling names:
cameras.com
flowers.mobi
forclosures.com
mortgage.net
vb.com
sailboat.com
sexeducation.com
creditcards.net
own.com
university.org
hb.com
fun.mobi
credits.com 95000

Thats just crazy!

Hold on one sec for those of you with dollar signs in your eyes! Not to sound pessimistic but you are probably about 7 years too late and lack deep enough pockets to purchase enough good domains to get any kind of ROI.

Now that your back to reality I can tell you that there is a better way to come up with domains.

What really sets domain names apart today is how memorable they are.

I repeat. What really sets domain names apart today is how memorable they are.

How do I come up with a better domain name?

You can either try coming up with a domain name yourself or you can pay a company to do so.

Coming up with one yourself?

Combine two simple words
Take a look at YouTube. Two simple words with the tag line “Broadcast Yourself” which is golden because of its implied meaning and connotation to the words Tube and You.

WordPress is another one. When you think of press you think “publish,” so WordPress must mean that I can publish something.

Change the spelling a bit
A googol is the number one followed by a hundred zeros. Google wanted to organize the worlds information online. So they changed the spelling and Google.com was born.

Use an acronym
Yahoo stands for “Yet Another Hierarchical Officious Oracle.” Pretty geeky, huh?

One of my favorite startups, Meebo, used this method even though its the acronym for an older project that the founders were working on and has nothing to do with instant messaging. “Mouse Exonic Evidence Based Oligonucleotide” in case you were wondering!)

Algoco, the service lets you make money from surfing the web, stands for “A Global Community.”

Still can’t think of anything good and available? Pay people to come up with one.

I’ve done both and have noticed that large web design firms usually charge a boat load for only 2-3 people who work for the company to generate a few domain names for you to pick from. Another rip-off if you ask me.

If you are going to pay someone to come up with a domain name, I would recommend a service like Clever Site Names where you submit a description of your website and a whole community of people generate custom available domain names for your business. Its usually pretty cheap and best of all if you don’t find a domain name you like, they will refund your money.

As you can see, you have many options when coming up with domain names besides paying thousands for a parked domain.

Simple, one-word domain names do not necessarily perform better. What matters more is that your website is useful and has a memorable name.

Why do people keep paying thousands for domain names then? The answer is beyond me.

-E

(sources Moniker, Freewebs, Meebo, WebRankInfo)

Technorati Tags: algoco, yahoo, google, meebo, parked domains, domain names, website names, business names, coming up with names

If you think your simple solution to a simple problem cannot be made into a successful business, then think again…

For instance, the expense of taxi fare prices in cities such as New York influenced entrepreneurs to come up with a creative solution. Their business called Hitchsters.com, connects people traveling to or from the airport to share a taxi ride. You even get to select whether you prefer a male or a female.

Have you ever wanted to buy a designer hand bag for a special event but couldn’t justify the cost of the bag for only one use? Your solution may be with a company BagBorrowOrSteal.com who rents out designer bags for either a monthly rate or a one time rental.

Coming up with a available domain names for new websites is becoming more difficult since domain investors buy many of the easy-to-remember domain names, then try to sell them for thousands of dollars more. CleverSiteNames.com worked out a solution for website and business owners to come up with more clever domain names. For a flat, refundable fee, you can list a description of your site or business on the site for others to offer up suggestions of available domain names. If you don’t receive a name that you like, they refund your money.

Ever have a rainy day or rainy month ruin your outdoor business. Worry no more with this company that provides weather insurance to businesses that rely on good weather.
Or you could take this concept a step further like WedSafe.com did, to insure that your wedding day goes as planned, rain or shine.

What if you didn’t get much sleep last night and you have an important meeting today. Need a quick power nap to recharge your batteries and clear your mind? MetroNaps.com has your solution since they offer power naps to professionals in the city.
If you move around a lot but never have a place to store those cardboard boxes,
BoomerangBoxes.com may be just want you need. The company primarily reuses cardboard boxes and disposes of unusable ones properly. It may sound like a silly idea but Boomerang Boxes sales are expected to exceed $750,000.

This young man made a million dollars simply by selling pixels for advertisements on a web site located at MillionDollarHomepage.com. His newest venture, charge $2 per pixel, then give away half of the profits randomly as a lotto.

This company sells large bows for large gifts such as cars.
This novel writer turned her hobby of writing into a successful business. She creates personalized novels where you can chose yourself to be the star of the book.
These real businesses are proof that your simple idea, too, could be worth millions.

-E

YouTube Video - Voted best beer commercial of the year 

Technorati Tags: Simple Business Ideas, Make Money Online, Business Ideas, Cool Business

Over the past couple of years, I’ve noticed a trend of odd but legitimate businesses arise.

For instance, if I would have told my parents that for a living I wanted to sell pixels on a web page or create a million dollar brand with a catchy phrase and no products, I probably would have been institutionalized. Let these crazy stories prove to you that no idea is too unusual to profit from.

Bobble headed toys of famous characters and people

A unique way to notify your friends and family of a pregnancy

Those smiley faced antenna balls

Selling used mannequins

Use your vacation to test out your unusual dream job

Sell cuff links on EBay

Creating unusual party hats for corporate events

A Record Company for musicians who play in subways

CPR dummies for practice on…Dogs?

Who ever thought an ecosystem in a bottle could be so profitable

Do not let anyone tell you that your business idea is stupid.

-E

How to spot a millionaire 

Technorati Tags: Business Ideas, Stupid Business, Unusual Business, Unique Business, Online Business, Make Money Online

Although I have only attended the 1st semi-annual Startup School, I can honestly admit that the advice I received there is priceless. Below you will find summaries of the Startup Schools that have taken place so far. Guest speakers at these events include Steve Wozniak, Paul Graham, Chris Sacca, Chris Anderson, Tim O’Reilly, Om Malik, Mark Zuckerberg, Michael Mandel, and the list goes on. The advice you will receive will include Intellectual Property, C Corporation vs. S Corporation, best way to start a business, and how to strike business deals.

October 2005 Notes

2006 Notes part 1

March 2007 Notes and Via Scribd

-E

The Amazing Blindfolded Pianist That Plays A Medley Of Mario Brothers Music. Truly Amazing Video!

Technorati Tags: startup school, y-combinator, Steve Wozniak, Paul Graham, Chris Sacca, Chris Anderson, Tim O’Reilly, Om Malik, Mark Zuckerberg, Michael Mandel, businessweek, harvard, silicon valley, young entrepreneurs, start a business

Heres an idea. Especially if you live in one of these cool cities.
Take a business office that is near a popular night time hangout and transform it to house live music concerts on the weekends.

That is what Affinity Lab did. Their building is a collaborative startup business office by day, live music venue by night.

Do they profit from this? That I do not know.

Could they profit from this? Absolutely.

-E

Technorati Tags: business idea, revenue stream, popular cities,

Forbes has an interesting article and slide show of cities that have thriving college campuses and recommends those cities for starting new businesses.

View the slide show of Top IQ Campuses

If you are looking for a good place to start a business, check out Cool Town Studios, where you will find many useful articles on places to start businesses.

Also, check out these Top Tech Towns.

-E

From the article:

“20-year-old Phillip Tapia is the Founder and President of a new & unique company he calls, Tray Display Advertising Inc. This young man has transformed an ordinary 8 ½�? x 11�? regular piece of white paper and turned it into a full time business.

Phillip Tapia launched Tray Display Advertising Inc. into a business in 2004 from the basement of his home. Tapia designed and developed a new advertising concept that turned trash into cash. Tapia has agreed to sell advertising space on the tray liners (placemats) , that Wendy’s use to serve all dine-in customers…”

In May of 2006 Tapia expanded his business and started advertising on a Colorado Springs Little Caesars pizza boxes.

Source: Business Opportunities

Technorati Tags: Business Opportunities, 20 something, twenty something, business idea, biz idea, Little Caesars

As the old saying goes, “don’t put all your eggs in one basket” (no Easter pun intended), is still true today with regards to making money online. The internet changes so fast that what may be a excellent income stream today, may be gone tomorrow with little notice. That is why I recommend using the following tips to grow your online business presence.

Think Simple. Simple ideas are, well, simpler, both to implement and maintain. Leave the big ones to the big guys. Take the new domain naming service CleverSiteNames.com, for instance. Simple idea, endless possibilities.

Take each idea, feature, and business step by step. As Tina Seelig says, “You can do it all, just not all at once.” Break down your problems and solve them bit by bit, not as a whole. Your results will come much quicker.

Automation is your friend. Automate anything that can be automated. Software like WordPress has gazillions of plug-ins - feel free to take advantage of them, in fact, feel like your getting the bad end of the stick if your not using them. It will save you time and frustration. This is especially true if you are running multiple popular websites and/or online businesses. There are only so many hours in the day. Wouldn’t you rather be spending time with family, doing a hobby, or starting another business anyway?

Traffic is King, but the content which dictates traffic is Queen. Its like the saying goes “getting initial customers is expensive, getting sustained customers is where the money is.” (I’m just full of sayings today!) The same rule is true on websites, even if you are not selling anything per se. Without great content, it is difficult to get anyone to return to your site more than once.

User driven and constantly changing sites give people a reason to return. I’m not talking about layout, though. Change that rarely or you will probably piss off a lot of people and prevent them from coming back. I’m talking about content. Update and add new content often. You may not notice immediate effects, but in the long run, your traffic is likely to expand as your content grows.

-E

Technorati Tags: Multiple, Online, Business, Traffic, User Driven, Content, Wordpress, CleverSiteNames.com, Domain Name, Naming, Easter, Simple, Automation, Simple Business Idea

KISS - Keep It Simple, Stupid!

Most business are founded on a simple, direct, principal statement or idea (i.e. Google “Organize the worlds information”). Although the solution is not always so straight forward. So keep it simple. There are always more challenges that one originally sees even in simple concepts, therefore you must assume that more complex problems are bound to have more complex solutions.

Act Fast

I guarantee your not the only person in the world that has had your ideas for a new business. People are surprisingly more similar than we like to admit. Whether you like it or not, if you don’t act on your impulses, others surely will. Remember, its not he who has the first idea that wins, its the first to execute that idea. For instance, my newest venture was up and running in less than seven days from having the idea to a full working business. I’m not saying that all business can be up that fast but you get the idea.

You Have To Be Smart, Not Brilliant!

People start companies to solve problems, fill voids, and capitalize on niches, not to prove how smart they are. If you want to prove your intelligence, go get multiple degrees.

Always Move Forward, No Matter What Speed
Keep your business moving once you start, no matter how much or how little time you can devote. Keep on your toes and active.

Listen Before You Reply

From what I have heard, this is the number one reason that businesses either fall apart or succeed. Since the founder in a startup is usually the jack-of-all-trades within the business, they often get so wrapped up in their ideas that they forget to listen to what the customer really wants. So always make it a point to listen before you execute.

Test Your Hypothesis ASAP

Whats the point in spending hours thinking about and building a business if there is no market for your business. Therefore, you should test your hypothesis as soon as possible to test the waters for your idea. For example, if you can, give out samples to a target market and ask for feedback. You’ll probably be surprised at what you find out.

-E

Technorati Tags: Work From Home, Online Business, Internet Business, Ideas, Test Concept,   Good Listener, Move Forward, Act Fast, KISS, Keep It Simple

In short, ideas for businesses and inventions come from current problems.

I’ve heard of many entrepreneurs and visionaries who keep a problem log. I’d recommend the same to you.

Anything that annoys you. Anything that can be improved upon. Anything that doesn’t exist that would make peoples lives better or easier. Write them down, read through it, and revise often.

If you are aware with your surroundings, pretty soon you will have so many ideas that you will need to filter the ones that you will attempt to solve.

-E

UPDATE 4/10/07: Check out Trendwatch for Global Consumer Trends, Ideas, and Insights.

Technorati Tags: Business Ideas, Invention, Entrepreneur, Inventor, Problems, Solutions, Problems Log