Today, many internet startups create new names to describe the products and services offered by their businesses. They create new names due to the fact that there is a scarcity of good domain names that are available. This, however, is incorrect. There are many good domain names available, but most require a price as they’re owned by someone or some entity that invests in domain names. Many describe these investors as “domain squatters”, which is a misnomer since domain investors are no different than real estate investors. Typically, those who throw out the term “domain squatters” are simply bitter since they lacked the foresight to secure the domain rights that would be ideal for their current business idea.
Great domain names, even the coveted one word domain names, are available for a price. Unfortunately, many entrepreneurs today choose to “make up” a new brand name, often a word which comes from the english language minus a few vowels. What’s interesting is that many entrepreneurs choose this path as they feel paying a so called “domain squatter” is ridiculous, even if the domain name naturally represents their product or service. Instead, they create a new brand name, work to secure venture capital, then spend millions branding their new brand name.
Now ask yourself this question, say someone is selling widgets.com for $10,000. An entrepreneur and his/her team has developed a disruptive new widget which has resulted in the team securing $3 million dollars (for example), and they’ve named their new company wdgts.com. Typically, the newly funded company will spend thousands (if not millions) marketing wdgts.com. Now wouldn’t it have been more practical, cost efficient, and much more intelligent to purchase widgets.com which would have risen organically to the top of search results on all of the search engines? This would substantially lower search marketing costs for potential customers searching for widgets, while enabling the new company to get better use of its’ $3 million dollars in funding. Doesn’t this make more sense?
Search engine optimization should be the starting point for all entrepreneurs seeking to build a viable business. For every one google.com or yahoo.com, there are thousands of mowsers, edgeios, meevees, boos, floozes, and zozas. There are great keyword domains available for purchase, ones that expire each day, and those that have never been registered. Granted, the one word keywords will likely have to be purchased, but there are many GREAT two letter keywords which drive strong traffic organically. Smart entrepreneurs should roll up their sleeves and find these gems. This is a better solution than taking an investor’s money and blowing it on wdgts.com.
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