In today’s web-centric world, the right domain name has never been more valuable, offering serious business advantages like online visibility, professionalism, and brandability. But with over half a million new websites being registered every day, companies are often unable to secure their first choice domain, forcing them to either go for something else or pay above the odds to take it off the owner’s hands.

The demand for premium domains—and the money that can be made from them—has given rise to the practice of domain investing. Many speculators are now spending money on what they deem to be potentially valuable domain names with the hope of making a future profit. Some domain names are known to fetch tens of millions of pounds, and many are regularly selling for tens to hundreds of thousands, so it can certainly be a viable investment route—as long as you know what you’re doing.

1.    Put quality over quantity

Domains are typically pretty cheap, so you could probably register hundreds or even thousands of them without breaking the bank. A lot of people do just this, in the belief that they will strike gold with at least a few of them. But does owning so many domains give you a realistic shot of turning a profit? Probably not.

These domains are often cheap for a reason—perhaps they’re just unimaginative or have an undesirable extension (more on that later). Whatever the reason, this means that people will be unlikely to spend the big bucks on them in the future, making them a poor investment choice. This strategy is also inadvisable due to the hidden costs involved. You will not only have to pay fees to use auction sites in the first place but will also end up paying registration fees for any domains you do register. So, instead of buying a high volume of random domains in an attempt to make a profit, focus on carefully selecting a few, good quality domains.

2. Consider brandability

Arguably the biggest measure of a domain’s quality is the brandability—in other words, how it conveys “the character, values, or qualities of the brand, product, or service”. A brandable domain doesn’t even have to indicate what a business is actually about, although this requires a long-term strategy. Take Amazon.com, for instance. While the domain doesn’t tell users exactly what Amazon does, it is certainly not generic and was chosen to evoke scale, considering the size of the Amazon. This fits in perfectly with what the business does, with its ethos of becoming the “earth’s most customer-centric company”.

Generic sounding domains like ‘popcorn.com’ or ‘computers.com’ probably won’t become in-demand any time soon, unlike unique domains which could easily become the next big brand name. Generally speaking, the shorter the better, as brandable domains should be catchy as well as unique. If you have to repeat the name four or five times before somebody understands or remembers it, chances are it’s not brandable.

If you’re struggling to think of inspired names yourself, a great shortcut is to consider some domain generator tools. Take brandable domain company Novanym, whose business name generator is aimed specifically at prospective business owners. The generator takes the user’s inputted keyword, business sector, and selected name style—with options including dynamic and corporate names—and gives them a selection of relevant domain names, as well as their prices. This makes it a useful way of gauging the cost of different domains, which can inform your purchasing choices, and investments, further down the line.

3. Avoid overhyped extensions

Another mark of domain quality is its extension, also known as a Top-Level Domain (TLD) and is what comes after the dot at the end of its URL. The king of TLD’s is .com, and as one of the first extensions to be created, it is trusted by internet users across the globe. Just under half of all websites use a .com suffix, while it also gives brands perceived value, with 99% of Fortune 500 companies holding .com domains.

Although you may be tempted to go for cheaper domains, you’re less likely to profit from them in the long run. As many as 67% of marketers admitted that they were less likely to trust quotes from a website with a .insurance extension rather than a traditional TLD. This can then affect your click-through rates, which has a knock-on effect on your SEO and rankings. As the majority of the public trust a traditional .com domain, we recommend sticking with this TLDs.

With so many global investment opportunities available, there are a number of countries which can get easily overlooked. The Commonwealth of Dominica, for example, not to be confused with the Dominican Republic, rarely attracts significant attention from entrepreneurs. Yet, for those who wish to explore it, the nation actually has a great deal of untapped investment potential.

1. Economic diversity

Dominica’s economy was once dependent on agriculture, especially bananas. However, as a result of Hurricane Maria in September 2017, much of the sector was destroyed, along with a great deal of damage being caused to the country’s transportation and physical infrastructure. Luckily, Dominica’s economy was able to get back on track thanks to funding acquired through its citizenship by investment program. This scheme offers applicants the chance to obtain Dominican citizenship in exchange for a sizeable donation to the country’s Economic Diversity Fund (EDF), which supports both private and public sector development projects throughout the nation. Alternatively, applicants can invest in government-approved real estate.

This foreign investment has enabled many industries to flourish, providing ample opportunities for investors to profit. The most significant of these is tourism, with Dominican officials reporting a 6.2% increase for 2018. This cements the island as the top Caribbean tourist destination, responsible for 20% of all travel to the area that year. The government also tries to promote sustainability through its Ecotourism Development Programme (ETDP), where community-based projects have helped improve some of the country’s top attractions such as Scotts Head and the Botanical Gardens.

Green energy is another key industry to benefit from citizenship by investment. Approximately 28% of the country’s electricity is generated from hydropower and wind—more than any other Caribbean Community (CARICOM) state. The government also aims to complete construction on Dominica’s geothermal power plant by 2020.

2. Thriving workforce

Investing in Dominica gives business owners access to a skilled and educated workforce. In addition to a high 92% literacy rate, Dominican workers are often considered to be the country’s “greatest economic asset”, and are known as a hard-working and trainable demographic.

It’s also notable that the government is committed to developing future generations through the

Dominica Youth Business Trust. This teaches all-important business skills by working with institutions and donors to deliver “an efficient package of services to young entrepreneurs”, who will hopefully go on to establish sustainable businesses in the country.

Dominica’s official language is English, which means British investors won’t have any problems communicating with their employees. This also enables workers to speak confidently to any English-speaking customers or clients throughout the world. Sharing a language will also simplify the creation and sharing of any documentation required for a business to run smoothly.

3. Connections to foreign markets

Not only is Dominica is a member of CARICOM, which is currently exploring the prospect of integrating all of its states into a single economic unit and eliminating tariff barriers in the region, but it’s also part of the Organisation of Eastern Caribbean States (OECS). This is dedicated to economic integration, and allows the free movement of citizens across all full member-states. These institutions give investors the opportunity to make the most of decreased trade barriers, as well as an abundance of potential employees within the area.

Away from the Caribbean, Dominica also benefits from the CARIFORUM-UK Economic Partnership Agreement (EPA), which was signed in March 2019 and eliminates tariffs on any goods imported from the island nation into the UK. Similarly, the Caribbean Basin Initiative (CBI) gives Dominica duty-free access to the US market for the majority of goods. Dominica is also a member of the Commonwealth.

In terms of transport, Dominica is only a two-hour flight from the closest US port, while it takes just 15 minutes to reach the French Overseas Departments of Martinique and Guadeloupe. This provides easy access to Europe, while there is also regular sea and air transportation running to many other global markets.