Admit it, you own a ton of domains and you've got 2 websites. Oh... I wish I were GoDaddy! Beyond the practical reasons for buying and owning a domain, we entrepreneurs and business owners buy domains not for what they are, but for what they could be!
There are over 2 billion (that's 2-0-0-0-0-0-0-0-0-0) websites with only about 400 million that are active. That means 1.6 billion ideas are waiting to hatch! Amidst all of those websites, there are more than 350 million domain name registrations and this number is growing. Of those domain registrations, a whopping 70 percent of them are not being used. And there's the rub!
The allure is simple. The domain name is cheap. If ideas are a dime a dozen, the domain name is relatively expensive by comparison. But you say: "An idea is worth it's weight in gold!" And that's what you need to understand! An idea weighs NOTHING and it's value is worthless without execution. And so too are the domains you and I have been sitting on year after year after year.
But you just can't let go! The domain name is the beginning of an idea. Forget that you haven't thought the whole thing through; right now, the domain name is a space holder for that idea to develop into your next million dollar venture. The domain is a dream that you can buy for about $15 per year! If only reality were so cheap! But you don't own a dream, the dream owns you.
It's 2021 and you are sitting on a bunch of domains. I wouldn't go as far as to suggest that you let them go. Afterall, they are your dreams. I pose this challenge! Review the set of domains that you own and PICK ONE! Follow through this year with one of those ideas, and embark on a journey to grow an idea into something real. It doesn't matter if it is not that million dollar idea... it could be or it might not be - so what! In the end, the domain is worthless until you make something with it. Once you discover how relatively easy it is, you can do it again and again. You may fall in love with the process. That alone is worth the value of a domain. As you become better at the process, you learn what it takes to develop an idea into something real and if it's a pot of gold on the other side of the rainbow that you're looking for, go get it. It's right in front of you and it's all encapsulated in that domain name that is waiting to bloom.