By: Raymond Hackney
Over the last couple days a few people asked me for opinions on new marketplaces they want to start. There are a couple people with threads on Namepros asking for advice on a name to pick for an auction site.
My advice is don't do it !
I never try to dash the entrepreneurial spirit of anyone, we need more of that imo not less. The key is to put your time, energy and money into something with a better potential return and fulfills a need not being serviced.
You may not like Sedo or Afternic which is a very common remark on forums, but these marketplaces have intellectual capital, human capital and a lot of other resources behind them. There are also boutiques out there with their own marketplaces like Hunting Moon and Brand Bucket to name a couple.
This business needs more buyers, more ways of qualifying buyers, generating leads. The dilution of the industry with tiny marketplaces that don't have the marketing and advertising dollars to establish any significant reach is just a fools errand in my opinion.
Of course my opinion is just one in a world of seven billion and I am certainly not saying someone cannot make a go of it, but you better have a plan, you better have capital and you better have an advertising program that consists of more than just posting on domain forums and spamming domain blog comment areas.
Think about areas that are under served in the domaining space and come up with an idea to serve it, that would be a better way to make money in my opinion.
Please leave your opinion.