How to Build a Home for Your New Startup

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2010-05-22 06-05 Schweden 0980 Sollentuna

Photo credit: Allie Caulfield 

It’s a frightfully familiar scenario.

Smart, motivated people work hard on their new startup. They have the idea, the business model, and even the capital to get their project off the ground.

There’s only problem. They don’t have a domain – a home they can call their own.

Enter Melbourne-based entrepreneur Michael De Wildt and his new business Influx. I’ve followed Michael’s domain journey from the start, and it’s been a bit of a bumpy ride.

Here’s his story.

Finding a Domain Name

You finally got yourself a domain name. That wasn’t an easy journey. What did you learn in the process? 

“I made this mistake of trying to find a name before the domain, which was a very bad idea,” Michael explains. He tells me how he would come up with all these cool domain names and then rush off to see if they were available.

“It turns out the cool names are usually taken, and for good reason.”

To avoid the disappointment, Michael suggests you opt for a domain-first approach. It can save you a whole lot of sleepless nights, laboring over unavailable domain names.

What did you look for in your domain name?

Funnily enough, Michael doesn’t fuss about aged domains. ”I couldn’t care less,” he says. “It’s not whiskey.”

The most important thing for Michael was that the domain name is fit for purpose. Short, memorable, and brandable domain names were also high on the list. According to Michael, you need something that can “carry the message of the company”.

But finding that perfect domain name for your startup is not always a walk in the park.

Don’t Get Stuck in Search

Is there something that surprised you about your domain search?

“The whole process is just slow,” Michael warns. “There’s a lot of back and forth.”

Unfortunately, slow progress can kill the momentum of any startup. For many entrepreneurs, the domain name can be their biggest roadblock. It’s very easy to get stuck in the search, without actually moving forward with your business.

To save time, you could always use Flippa’s advanced search to narrow your scope.

Practice Your Negotiation Skills

What advice do you have to other entrepreneurs who are looking for a domain name? 

In the end, Michael says that it boils down to a bit of luck and some good negotiation skills. After all, that’s how he got hold of his domain name, Influx.com.

“It’s a bit like buying a house,” Michael says. ”Find something that you’re happy with. You’ll make it work”.

So, remember to widen your options. Instead of just looking at one domain name, try to search for a few alternatives. This “house” approach will also help you at the negotiation table.

And as soon as that domain name is yours, you can start building the home that will serve you and your customers for many years to come.

Conclusion

There’s no way around it. If you’ve got a new business, you need to get yourself a domain name. Don’t put it on hold. You never know how long it will take to secure the domain name that’s right for your startup.

Are you hunting for a domain name? Why not start your domain search right here on Flippa? Please let us know your thoughts in the comments.

P.S. When you’re looking for a domain name, make sure you’re not making any of these mistakes: “7 Domain Name Mistakes That Make You Look Dumb“.

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Comments

  • Antonio

    well, now there is plenty of new gTLDs to choose from… [sarcasm]

  • Olle Lindholm

    Hi Joseph,

    You’re raising an important point here. “Entrepreneurs/business owners don’t have to do it alone”. True to that. There are many useful tools and places where you can go to find your domain name.