There is only one chance to make a first impression! A domain is the first thing that users will see and learn about your business.
As much as possible, Krutal suggests to have a domain that pertains to the business. The best traffic is direct traffic. Make it as easy as possible for searches to land on your site. Other quick domain tips: look for older domains, get sites that ends in .com, avoid names that are hard to spell, and use hyphens only when key words are questionable.
Doing some domain homework should include researching domain history, measuring customer response early on (before even acquiring the domain), and weighing alternatives.
In the negotiation and acquisition stage, Krutal recommends honing negotiation skills buy doing mock bids on domain sites like namepros. That way, when it comes time to really buy a domain, there is a smaller margin for error to getting what you want.
In approaching a seller, Krutal says to try and understand the domain owner’s background and their industry experience. Building a positive relationship early will become important during acquisition time and beyond.
If the startup is serious about the domain it really wants, it’s not a good idea to put down a low-ball, non-serious offer when negotiating a bid price. At this stage, its important to use a comprehensive approach to put down an aggressive, realistic offer, based on some of Krutal’s tips mentioned here and in the podcast.
After acquiring a domain, there are a couple payment options. Paying in cash is the most common method, but there’s also the option of giving equity, and leasing the domain. A good rule of thumb is to use an escrow service for domains over a grand. Lastly, read and understand domain transfer principles.
Krutal dishes out plenty more tips on how to find, negotiate, snap up, and test the best domains in the podcast.
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