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Nairaland Forum / Nairaland / General / Business / What To Do To Make Money Online? (3776570 Views)
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Re: What To Do To Make Money Online? by AMZYMAYO(m): 1:30pm On Apr 07, 2020 |
I also have a big question for domainers. How much do you reinvest into your domain business if you're into it full time? I sat down and was doing my calculation. I was investing 30% back into the business while the other 70% for Tithe (10%) and upkeep. Yesterday, I realized that 30% (if I was able to make less than 4m) will lead to a big loss at the end of the year. Here is my breakdown: Starting with 3m 3000000 - 20% domain (600,000) =2,400,000 2,400,000 - 10% Tithe (300000) = 2,100,000 2,100,000 - house rent (300000) =1,800,000 1,800,000 - miscellaneous (300,000) = 1,500,000 1,500,000 - cloth (150,000) = 1,350,000 1,350,000 - general expense at 100k per month (1,200,000) = 150,000 So, I'm still left with 150,000 (just 150,000) And that 150,000 can still go for other unbudgetted expenses. What's your say on this? 5 Likes 2 Shares |
Re: What To Do To Make Money Online? by ikhalyfah(m): 1:34pm On Apr 07, 2020 |
AMZYMAYO:That is why MAJORITY of domainers worldwide are not into it full-time. It takes a big plan and a lot of sales monthly to become a full time domainer. Or then u have to minimise your expenses. And for the above breakdown u didn't even include the time one will spend. Your time counts! And u made this calculation base on say we are in Nigeria, in a much expensive country the story will be different 1 Like |
Re: What To Do To Make Money Online? by 2sexycom(m): 1:39pm On Apr 07, 2020 |
AMZYMAYO: You are on point. The best way to turn this around is to develop some, rank it with help of SEO, wait for some months and sell it to end users in that niche. They will always be inclined to buy the website because of the traffic and you get almost zero resistance with a minimum of $1000 as sales price. In some heavy niches, you could sell it for $5000-$10,000 or more. Websites actually have more acceptance rate than just domains if it has traffic. 8 Likes 4 Shares |
Re: What To Do To Make Money Online? by viktor88: 1:42pm On Apr 07, 2020 |
AMZYMAYO:Nice calculation but from my side it will be less expenses. The 300k for tithe will be kept into fixed deposits to make more money for money. Then 150k will pay my rent here. The only domainer that know who is full time in it, is that guy based in Malaysia, most of them have their main job. |
Re: What To Do To Make Money Online? by ElonMosque(m): 1:53pm On Apr 07, 2020 |
Hmm... This analysis got me thinking. Everything in the expense column is negotiable except the investment percentage and tithe. Rerouting some money to developing some domains like 2sexy suggests could be the solution. Just my humble opinion. 1 Like |
Re: What To Do To Make Money Online? by Promxy94(m): 1:56pm On Apr 07, 2020 |
AMZYMAYO: Guy your expenses are similar to what am having, even when domaining isn't a full time business, it's better than some regular jobs, of 6-6. Now add car expenses if you have one, and fueling, I haven't seen light for almost a year 6 months because of bad transformer so buying fuel is a consideration. Although it's a though one, but domaining is Bae, just to look for another side hussle and add to it.... As for those people that end up registering similar names to sell, after someone has reported a sale, I wish them good luck, because, from my own point of view it's not the best thing to do. That's all I can say. My GOD LIVES.... 7 Likes 1 Share |
Re: What To Do To Make Money Online? by Promxy94(m): 2:00pm On Apr 07, 2020 |
ElonMosque: Developing a domain name to a website, is good for someone that has that time. And know that the ability for the website to still sell is based on probability.As for someone like me, domaining is something that I might leave someday, to face destiny. 2 Likes |
Re: What To Do To Make Money Online? by ElonMosque(m): 2:08pm On Apr 07, 2020 |
Promxy94: Now that's the not-so-fun part. Maybe the odds will be better in hot niches. |
Re: What To Do To Make Money Online? by Geofavor(m): 2:08pm On Apr 07, 2020 |
AMZYMAYO:What kind of website will this domain be used for? A restaurant directory? A restaurant's website? |
Re: What To Do To Make Money Online? by AMZYMAYO(m): 2:14pm On Apr 07, 2020 |
Promxy94: I burn fuel like tomorrow no dey too. I've pegged all that in my monthly expense of 100k (which, most times, I still exceed). Domaining is Bae, but a side hussle, like you said, is needed |
Re: What To Do To Make Money Online? by AMZYMAYO(m): 2:14pm On Apr 07, 2020 |
Geofavor: The name says it all bro |
Re: What To Do To Make Money Online? by AMZYMAYO(m): 2:15pm On Apr 07, 2020 |
Promxy94: Not even a fan of the website building. Go to flippa and see how they price website like tomato. What people still need, to splash a lot of income on a website, is the traffic data. How many people are visiting per day, in a month, in a year? How much I can I generate from Google absence? These are some vital questions buyers ask. |
Re: What To Do To Make Money Online? by AMZYMAYO(m): 2:17pm On Apr 07, 2020 |
viktor88: Lol. Tithe money na business money ![]() May God help us 1 Like |
Re: What To Do To Make Money Online? by Reality11: 2:20pm On Apr 07, 2020 |
Buyer replied me "how do I know you own it" What is the best way to go about it. Should I send him to the marketplace? And explain to him how it works? |
Re: What To Do To Make Money Online? by Promxy94(m): 2:22pm On Apr 07, 2020 |
Reality11: Best thing is to go to your registrar, and screenshot the domain in your portfolio and send to him. That's what I normally do if asked such question. That guy is a buyer... And am 65% sure he will pay if you handle it well. 1 Like |
Re: What To Do To Make Money Online? by fasa199(m): 2:24pm On Apr 07, 2020 |
grandstar: Thanks you boss |
Re: What To Do To Make Money Online? by ElonMosque(m): 2:25pm On Apr 07, 2020 |
AMZYMAYO: You can start domaining tutorial ![]() |
Re: What To Do To Make Money Online? by AYORICH: 2:26pm On Apr 07, 2020 |
AMZYMAYO:Nice calculation guide but the truth is that domaining is not "a get high profit margin" biz every year after expenses , some years can b smooth while some might be rough . To me I sat and analyzed that domaining might not be a longtime Hustle for bigger funds especially just only selling names without adding value to it . we just have to start adding values to domains. 2 Likes |
Re: What To Do To Make Money Online? by Reality11: 2:38pm On Apr 07, 2020 |
Promxy94: Thanks I hope he buys. |
Re: What To Do To Make Money Online? by Floyd45(m): 2:46pm On Apr 07, 2020 |
AMZYMAYO: Considering the times we are in right now, it is quite clear why the aforementioned domain will sell. People are obviously looking for restaurants that will deliver food to their door steps. 4 Likes |
Re: What To Do To Make Money Online? by grandstar(m): 3:01pm On Apr 07, 2020 |
fasa199: You are welcome |
Re: What To Do To Make Money Online? by GentlePEACE: 3:14pm On Apr 07, 2020 |
I need coupon codes of 1usd from any registrars pls I'm a newbie and I have some names I want to register asap |
Re: What To Do To Make Money Online? by UrVillagePpl: 3:26pm On Apr 07, 2020 |
Promxy94: I experienced the same thing not too long ago. Not all cases ooo. After going back and forth in trying to convince the buyer that I'm the legitimate owner. He concluded by saying. ' Good to know, we will just pass on this one'. All the best anyways |
Re: What To Do To Make Money Online? by ikhalyfah(m): 3:28pm On Apr 07, 2020 |
UrVillagePpl:I tell u this white people ehnn ![]() ![]() See na only grace go continue de do am for us! 1 Like |
Re: What To Do To Make Money Online? by asfrankasf(m): 3:32pm On Apr 07, 2020 |
nkeona:You are so lucky that's what I went for immediately I saw the list. Good luck 1 Like |
Re: What To Do To Make Money Online? by GentlePEACE: 3:37pm On Apr 07, 2020 |
I got a coupon code for porkbun 2.90usd and I've been trying to register a name, it keep saying my card has been declined. I used GTB and Ecobank. Who can put me through pls |
Re: What To Do To Make Money Online? by UrVillagePpl: 3:42pm On Apr 07, 2020 |
ikhalyfah: ![]() ![]() ![]() ![]() ![]() I was quick to screenshot having in mind that I was about registering another sale.. This white folks are sometimes annoying ![]() ![]() |
Re: What To Do To Make Money Online? by UrVillagePpl: 3:43pm On Apr 07, 2020 |
GentlePEACE: I guess you should use PayPal. That will save you all this stress |
Re: What To Do To Make Money Online? by ElonMosque(m): 3:44pm On Apr 07, 2020 |
GentlePEACE: Just calm down. |
Re: What To Do To Make Money Online? by GentlePEACE: 4:06pm On Apr 07, 2020 |
Re: What To Do To Make Money Online? by GentlePEACE: 4:07pm On Apr 07, 2020 |
UrVillagePpl: I'm trying to register a Lesotho account now. I hope to do that successfully |
Re: What To Do To Make Money Online? by 2sexycom(m): 4:24pm On Apr 07, 2020 |
AMZYMAYO:lol... what section of flippa are you viewing? Certainly the starter site without traffic. The emphasis is traffic bro. One of my sister (not biological but same state) reached out to me a week ago and showed me impressive adsense stats. She makes $1000 a month from a 6 months old website and was about to sell it but we had told her to make it 1year or one year plus before flipping it in order to command the kind of money she wants. How much does she wants? $35,000 But these kind of sites require lots of work. 5 Likes 1 Share |
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