Every business venture incurs some costs. Some of that cost is financial and the rest of the cost is in time spent. I truly believe that time is money and I try to use my time wisely. My online empire initially cost me about $100.00. I purchased a hosting plan and bought a slew of domain names that fit my niche. I have a few topics I am interested in so I did some research on keywords and purchased domain names from GoDaddy that were easy to remember and could hold some clout with some minor SEO tweakage.

Over time I purchased more domains and have a pool of about 30 now. I look at domain names like immature companies. Each domain name is a potential business venture that I plan on exploiting.

I reccomend getting more than one domain. Only simple minded business people or bloggers buy one domain. If you want to create an online empire you need at least 5-10 to get started. Most companies buy 4 or 5 with the intent of keeping one as the corporate identity and the rest for marketing and other resources. You should look at these as investments and as you work with each of the domains you will see that some make you more money online than others and you will use that online revenue to make more mini companies and collect even more money.

But it all starts with a few dollars and a domain name.

Check out what other bloggers are saying about choosing the right domain names.

• The Importance of buying the right domain names | Don’t let your brand get hijacked online
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• How to Find Money-Making Domains

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