Michael Wong Blogs Again After 2 Year Break
It's been almost 2 years since my last blog post and I think it's time to resurrect the blog.
It's also that time in my life when I feel the need to buy a house for my family. Renting has its advantages, but the landlord could take the house back at anytime. So I need a more permanent home. Buying a house requires a lump sum for the deposit, stamp duty, legal fees, etc. And saving has never been my strong point.
As such, I need to increase my income dramatically within the next 6-12 months. And I've decided on a new strategy to help me achieve this. Will the strategy work? Who knows. But it will be fun seeing if it does.
My new strategy is to build up my online real estate. The way I see is that the more virtual real estate one owns, the more nets I have to catch targeted visitors. And more targeted visitors equals more money.
I've come across some amazingly successful dot-comers and one common theme to their success is that they have dozens, if not hundreds, or even thousands of domains. I "only" have about 16 websites at the moment. Some have been very successful, while others have only achieved moderate success. So I've been thinking about the idea of expanding my virtual web empire.
There are pros and cons to this strategy.
The main benefits are:
- New "non-commercialized" (at least in the beginning) websites are independent of my commercial websites. As such, more people are likely to link to them.
- It's a lot easier to sell text links on 100 different domain homepages, than to sell links on 100 webpages on a single website.
- I have the option to sell off individual domains any time I want to raise cash.
And the main drawbacks are:
- It will take longer to dig each site out of the Google Sandbox and gain PageRank for it.
- I have to pay $8 a year for the domain registration, which could get costly if I end up building thousands of websites. But then again if I can't make at least $8 a year from each domain, I might as well quit this business.
I think the benefits outweigh the drawbacks so I've decided to give this strategy a try. New websites will be announced in the coming days and weeks.
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