Women are known to be more compassionate and understanding than men. Therefore, online marketplaces specifically designed for women might just become a lucrative business venture.
“In the near future, I foresee a world where women can truly be their own boss and make their own decisions,” said Elle MacLeman, Founder and CEO of MyDomaine, the domain brokerage company. “The opportunities are endless.”
The idea behind MacLeman’s company is to make owning a domain easier. Many people, especially those who have been unable to fully participate in the digital world because of lack of technical skills or familiarity, might just see this as an inviting opportunity.
“You can’t put a price on being able to participate in the decisions that affect your life,” MacLeman said. “I want every woman to have that freedom and be able to own the domain that represents them.”
The Rise Of The Sharing Economy
New technologies like the internet and mobile phones have changed the way we interact. Thanks to platforms like Airbnb, eBay, and Etsy, the sharing economy has taken shape. People are trading goods and services directly between themselves, often without ever having to leave the comfort of their homes.
One area where the sharing economy has emerged is domain trading. Through platforms like GoDaddy’s Domain Authority, which allows users to track the performance of selected domains, or MyDomaine’s proprietary analytics tool, any aspiring entrepreneur can pinpoint the value of a domain and determine whether or not it’s a viable investment.
In the case of Elle MacLeman’s company, she saw an opportunity to create an alternative to the traditional domain registration process, which can be cumbersome and time-consuming. Before establishing her business, MacLeman saw how important it was for women to have an easy and affordable method of owning a domain. What’s more, she wanted to provide a platform where women could connect with other entrepreneurs in their area, encouraging them to become their own boss and make their own opportunities.
Why Domains Are Popular As Investment Vehicles
Domains are a popular choice among early-stage investors due to their digital nature and relative inexpensiveness. For instance, the average domain name registration is around $13 a year, which is a fraction of the cost of a similar quality web host. Plus, people can own a domain with virtually any extension they choose, including.com,.org, and.info, so investors don’t have to limit themselves to just.com domains.
According to ICANN, the nonprofit organization that oversees the resolution of domain name disputes, around 72 million domain names have been registered so far. In 2021 alone, there were around 12.8 million new domain names registered. If current trends continue, then in 2027 there will be around 24.7 million new domain names registered each year.
How To Establish Your Own Online Store
If you’re looking to invest in a domain, then the obvious choice would be to establish a website. However, if you’re looking to establish an offline business, such as a shopify store, then there are several advantages to this route.
Firstly, you’re limited by the number of visitors the internet can deliver. For example, if you have a shopify store focused on selling womens’ shoes, then you’re limited to the number of people who are searching for that type of product. However, if you have a physical shop nearby, then you can take advantage of the fact that people will actually come into your store and buy what you’re selling.
Secondly, the world is a digital place. People are more likely to research products and compare prices online before making a purchase. In the age of the internet, information is easily accessible and almost free. Unless you have a physical shop, then you’re losing an opportunity to educate potential customers about your products.
Thirdly, a website can be easily accessed from anywhere. If you have a physical shop, then you have the added advantage of being able to engage with customers face-to-face. Even if they don’t live nearby, people can visit your shop in the comfort of their home.
How To Establish Your Own Etsy Shop
Etsy is the world’s largest platform for small businesses. You don’t need a large amount of investment to start a shop on Etsy. In fact, you can get started for free. Once you’ve set up an Etsy shop, you can choose to upgrade to a premium account, which will remove the transaction fees for your goods and let you track your sales more accurately. You’ll also be able to take advantage of the platform’s various features, such as product searches and custom ordering.
What Is Domain Flipping?
Flipping involves buying a domain with the intention of selling it for a profit, either by itself or in the form of another popularly recognized brand. The most common type of flipping, known as domain flipping or cybersquatting, occurs when an investor buys a top-level domain, such as.com or.net, with the intention of reselling it at a higher price. This is typically done for the sake of creating a quick and easy method of making money online, without too much effort. The risk of investing in domains is that the value can fluctuate significantly, with some domains increasing in value by several million dollars and others declining in value by the same amount. If you’re fortunate enough to secure a lucrative domain that you plan on keeping for the long term, then this might just be the perfect opportunity for you to make some serious cash.
How To Establish Your Own Blog
Starting a blog can be an affordable way to establish your expertise, build a brand, and make money online. You don’t need a large amount of investment to get started with a blog. You can simply purchase a.com domain and use WordPress to launch your site. WordPress offers several free plans, so you don’t have to spend a dime until you start making money from your blog. From there, you can scale your costs according to your own preferences.
Blogging As A Business
There are several different ways to monetize a blog. While many people use their blogs to simply inform their readers about new content, others see it as a full-time job. Those individuals, known as professional bloggers, monetize their blogs as a sideline, supplementing their income with other platforms. According to Forbes, around 120,000 professional bloggers earn more than $25,000 a month from their websites.
The chances of becoming a successful, full-time blogger are relatively high, as long as you can secure a reliable following. Platforms like Google Adsense make it easy to monetize a blog through online advertisements. You don’t need to have a large amount of traffic to garner meaningful engagement with advertisers. To really boost your odds, you can write about topics that are of interest to your audience. For example, if you’re passionate about female empowerment and entrepreneurship, then you might consider starting a blog about those topics. Having a wider appeal will make it easier for you to connect with advertisers, generate revenue, and scale your blog. Plus, with so much competition, the easier you make it for people to discover your content, the greater your chance of success.
Recommended Reading
If you’re interested in learning more about domains, then the following books might just be what you’re looking for. They’re all available on Amazon, and you can even find some on Kindle Unlimited if you don’t have a physical copy.
One of the first books you might want to check out is How to Invest in Stocks Without Breaking the Bank by Richard Fitzgibbons. This is an essential resource if you’re looking to get started with domain investing, or if you’re already a seasoned investor and want to learn more about the ins and outs of domain ownership.
Then there’s the classic, The Millionaire Real Estate Investor by Richard Quest. If you want to know how to become a millionaire real estate investor, then this is the book for you. It’s all about identifying lucrative investment opportunities and investing small amounts of money in a way that can generate serious profits.
The last but not least, One Door Closes, Another Door Opens by Mike Hodel. This is a guide to successful real estate investing, updated for the modern era. It’s filled with invaluable information, including tips on how to make the most of limited resources, reduce risk, and find the best mortgage products for your needs.
There’s no question that the future of work is going to be incredibly challenging. Thanks to emerging technologies, like AI and machine learning, the world of work is rapidly changing and evolving. New platforms and businesses are emerging as a result of these changes, offering exciting new opportunities to those willing to look for them.