Archive for January, 2013

Lord Sugar started his business empire with £50. Or did he ?

Lord Sugar is forever telling us that he started his business with just £50. What he fails to mention is that was in 1968 and £50 back then would be worth approx £715.50 today according to the ThisisMoney inflation calculator (can be seen here)

Lord Sugar

Whilst I admire Lord Sugar for his achievements, I feel a comment like that is totally misleading to his ‘Apprentices’ and in particular his ‘Junior Apprentices’.

Maybe in this years series of ‘The Apprentice’ and ‘The Junior Apprentice’ he should inform them of that minor detail he seems to have left out previously. A true entrepreneur knows that attention to detail is critical to success, and it seems rather silly to leave out such a crucial fact like that.

Question time with Frank Paul – Talk to Frank !

Happy New Year everyone ! I hope you are all looking forward to 2013 and are creating opportunites for yourselves to enable a better quality of living and give yourselves more freedom.

I get asked questions all the time both in person and via email, asking what I do, why I do it and how I do it (amongst other things !), so I thought I would publish some of the questions I get asked and share the answers on my blog so all my readers can benefit from the knowledge.

Question Time

Since I done my interview with Siteopia last Friday (link here), I have had quite a few emails from people who had read the interview and wanted to know more. If you would like to ask me a question about ANYTHING then feel free to contact me via my domain website 34 or drop me an email frank@34.co.uk and I will publish the best ones along with my answers on my blog. Rest assured that some questions I will spare your blushes and not publish who actually asked me the question if you prefer.

Here is an email I received from Ian Vaughan who happens to live less than 10 miles from me, asking some questions about domain names :

What sites do you find best to sell your domains ?

I don’t find any sites ‘best’ to sell my domains to be honest. I seldom use Sedo (only a small handful of my names are actually listed on there) and have only used Domainlore.co.uk a few times over the years, and that was usually to offer names I was selling to donate the proceeds to charity. I just let people find me and contact me direct about a specific domain I own and go from there, and also my main domain selling site 34.co.uk usually helps people find me too. This is the best way for me personally and something I am currently doing to aid people in finding me easier is creating a specific landing page on each domain informing them that the domain name is available for sale or lease and my contact details to get in touch.

What sites do you use to value your domains ?

I don’t use any sites to value my domain names as there is no such thing as an accurate ‘machine’ calculation for the value of any specific domain name as there are too many factors to take into place, not to mention the most important one – someone who wants to buy your domain will only pay a maximum price they want to pay and what it is worth to them, regardless of what any machine says. I value my domains on a number of factors, which is coupled with experience of the domain business along with the size of the market of that individual domain and what I feel the domain name is personally worth for me to let go of the domain and the opportunity. Every domain I own has the potential to be turned into a real money earning business and sometimes it is hard to let go of specific domains I have become personally attached to because of this.

Do you develop your domains into actual sites and monetise them with affiliate partnerships, lead generation or adsense until they sell or just park them on the likes of SEDO and wait for a buyer?

There is no one answer for that question as I do a combination of all of them. Some names I develop into actual sites and monetise them with lead generation, ecommerce, affiliate marketing or even a ‘real’ business and other names I will do nothing with until either a). I get around to developing the name OR b). someone wants to purchase the domain name from me.

What do you look for when buying domain ? a recent post mentioned looking at a high CPC but I would look more toward exact traffic volume and low competition

I never look at the CPC when buying a domain. I can spot a good domain a mile off and if it whets my appetite in the first 3 seconds of me seeing it, I will then begin to assess it further. I go through a mental ‘tick box’ scenario such as “How big is the industry”, “Does the domain have multiple uses”, “Are there lots of others who could be interested in this domain”, “Could I monetise this myself and how”, “Does it get lots of searches” etc.

Hope that helps Ian and good luck in 2013.

One other question I thought would be fun to add to this first post, was from someone who will remain anonymous :

I notice from the pictures I have seen of you, that you have Jedward style hair – is that intentional ?

Lol nice question ! I can assure you it is not intentional and I had never even thought of this until you asked me. Thanks for the question though, hope that satisfies your curiousity :)