I take part in a weekly podcast with my good buddy Mark Thompson Wp Goldmine where we talk about all kinds of wonderful things. Mostly related to Internet Marketing but we do wander round the houses as well so it is an informative and fun listen.
On one of the podcasts we asked what would you do with $1k and then never really said much more, this week someone on the forum asked about it and I decided to actually give it a go rather than talking about it.
I had initially said I would hire a copywriter and do a product or maybe I would hire some designer to do something. That is great for me as I have a list and have more than a little experience with putting products together, but it isn’t realistic for most of my readers.
I wanted to do something that everyone could follow along with and hopefully it would spur people to do something of their own. I will do my best to keep track of it all on here, I have even done a video for today which you can see at the bottom of the post.
If you don’t have a grand kicking about don’t worry!
I am not going to spend all of it if I can help it and I am not saying you should go into debt to do this. I think this is more of a way to push for concentrated action. I chose 20 domains as an arbitrary number, there was no science behind the number 20 and I promise it isn’t some crazy test to see if you know why the plane crashed on THAT island.
So whether you can buy 5 domains for 25, it doesn’t matter as long as you move forward.
Where possible I will share the free way of doing things as well as the paid ways of doing them.
Step One:- Find Niches
I bought 20 niches from The Domain Concierge – or Niruka as she is known on the WPG forum.
I bought them from her because I suck at finding niches quickly, I am too much of a worry wart and get sidetracked far to easily. I start looking for niches and end up finding that I have spent 3 hours, have 20 firefox screens open, 2 different programs and not decided on any.
If you don’t want to buy ready to go niches then you will have to find your own, you can use tools to help you narrow down the choices or do it manually.
Manually – It has been a long time since I did any niche research manually but basically you would need to spend some time with the Google keywords tool – finding keywords that have enough searches, then you would need to look at the adwords tool to see what the ad costs are, or check for products you could sell.
Then you would need to find out if a domain name is available. If there isn’t a domain name available (and i only use the keyphrase with .com/.org/.net) then you have to start again.
You can see why the software options exist and you can surely see why The Domain Concierge was my choice.
Step Two:-Buy the domains – I used namecheap as they charge $9.69 for .com/net/org and then you can get discounts to bring it down to $8.81. I did look at godaddy as they advertise things like $4.99 domains and 25% discounts. The $4.99 was only good for one domain and they charge $14+ for .orgs so even with 25% off it wasn’t a bargain.
If you are only buying a few domains at a time then it probably isn’t a big thing, but when buying 20 it was worth looking at.
Step Three:-Hosting – If you already have hosting you can use that but for the sake of this experiment I decided to open up a new hosting account at Reseller Zoom - $6.95 a month for hosting for 20 domains. If you buy from them please use firstname.lastname@example.org as the referrer (it isn’t mine but he is the guy who recommended the hosting to me).
Once they set the account up then I will have to do all the DNS stuff which will of course take some time. I normally use Hostgator who have it all set up so it is instant, I don’t mind waiting a little while as it means I have time to write this post and make a video!
The next step will be setting up some of the sites, I will do some with WordPress, some with HTML
Ordering of content for some sites – I will mention what I want for content in the next post.
Expenses So Far
Domain Concierge = $160
Domain Names = $176.20
Thanks for reading this far and please come back soon!