Welcome to Cubicle Hell Dot Com, and so starts a new blog. As some of you have noticed, I have not moved over all the content of the old site, and most of it will more then likely not follow. While I was happy with the .ca domain, I could not pass up the chance to own the .com domain. There has been a very active thread over at DNforum.com about the Canadian domain market, but I still do not believe that it is ready for prime time, but that is a personal belief. That does not mean that I am not buying .ca domains, since once .ca hits it big it will already be too late to by the generic domains.
Google AdSense is one of the easiest ways to generate a stream of income by cashing in on the Pay per Click market. How large a stream of income depends on your website?
The concept is relatively simple. Google sells advertising known as Adwords. Website owners allow Google to display the ads on their sites in the hopes that web surfers will click on the ads. Each time an ad is clicked on, Google pays the site a share of what Google receives from the advertiser.
Google has created its own proprietary technology in order to determine the content of each and every page of your website. This allows Google to deliver ads that are contextually relevant to your audience.
Because the ads are related to what your visitors are looking for on your site — or matched to the characteristics and interests of the visitors your content attracts — you’ll finally have a way to both monetize and enhance your content pages.
Simply put if your site is about hamsters, you are not going to see ads for Insurance. Which is great for the owner of the website since the more relevant the ads, the better your click rate will be.
But you ask. Can people make a living by just displaying ads on their site? YES, it is possible to make a living by displaying Google AdSense on your website. The question is how long will it last? I personally think that it is here to stay in one form or another. As long as people surf the web, there will be advertisers who want to advertise on those websites.
As I mentioned in my last post, there have been a number of articles written in the main stream press about domainers. The article in Business 2.0, “Masters of their Domains” shined a light on the domain market, and how people are using domains as a passive stream of income. Quotes like:
…it’s all about the income stream. A single good domain name–Candy.com, Cellphones.com, Athletesfoot.com–can bring in hundreds of dollars a day, in some cases while the owner hardly lifts a finger. Schwartz, for instance, directs his traffic to one of the many small companies that serve as go-betweens with Google and Yahoo, the two giants that make this all possible. The middlemen, known as aggregators, do all the heavy lifting, designing the sites and tapping into one or the other of the search engines’ advertising networks to add the best-paying links.
Sounds easy right? Wrong! While it might be nice to make some easy money, good domains are getting harder and harder to come by. I am not saying that they are impossible to find, it is just that the days of registering great keyword domains with a .com extension off the top of your head for the price of the registration fee seem to be a thing of the past. Most are now picked up on the drop, or thru private sales. Which means that each domain you are looking at picking up has to be evaluated are to its revenue potential before you make an offer or place a backorder. This can be very time consuming, and unless you have deep pockets there is a good chance that someone who is willing to pay more will grab the domains you are after, but don’t let that discourage you from learning more. Domaining can definitely create a stream of income.
The term Domainer has been in the news a lot lately and since I seem to have a growing collection of domains, I thought I would explain the difference between a Domainer and a Cyber Squatter. Since most people wrongly believe that they are one and the same, I will start with the definitions of what a Domainer and a Cyber Squatter are.
Cyber squatting is a derogatory term used to describe the practice of registering and claiming rights over Internet domain names that are, arguably, not for the taking. The cyber squatter then offers the domain to the person or company who owns a trademark contained within the name at an inflated price, an act which some deem to be extortion. [http://en.wikipedia.org/wiki/Cybersquatting ]
A domainer is an entrepreneur making his or her fortune in the field of domain names by offering domain-name related services to clients; or by investing in individual domain names for resale or development (domaining). [http://en.wikipedia.org/wiki/Domainers]
Now that we have an understanding of the differences between a Domainer and a Cyber Squatter, we are better propared to discuss how to make money in the domain market.
Whether we realize it or not, we all have at least one stream of income. For most people that is all they will ever have and it comes in the form of a job. But what if you were to lose your job tomorrow, would you still be able to survive? If you only had the one stream of income, and it dried up how would you replace that income? Could you replace it tomorrow, next week, or even next month? Do you have enough saved up to cover your expenses till you are able to replace that stream of income or would you be forced to take the first job that was offered in order to make ends meet? That is where multiple streams of income come in. Each stream helps to provide a little more security so that if one stream dries up we are not left high and dry so to speak and in today’s world having a little security can go a long way.
Ok, the first part of this post if very figurative, but what does it really mean and how can people achieve “multiple streams of income”. One of the easiest ways to add another stream is to just go out and get another job. Then you would have two streams, which is what we want right. No, not really. While it would provide a stream of income, it is an active stream since we have to actively be working at it for it to flow. There are only so many hours in the day for us to work at growing out active streams. I am reminded of an Amway parody a couple of years ago that kept referring to a “JOB” as “just over broke”, and there is no way for anyone to retire early if they are not part of Amway. It was a cute parity, but had a lot of truth in it. Not that I am suggesting anyone join Amway. While we want to create more streams of income, there are only so many active streams that we can work at. The type of streams we want to create are passive streams of income, but what is a passive stream of income?
A passive income stream is one that is achieved with as little effort as possible. That is not to say that it will require no effort, but that the majority of the effort will be required up front to get the stream flowing and once it is flowing it will continue to provide a passive stream of income. Hopefully forever!
The dream is that one day our passive streams will provide us with enough income that we can eliminate our active streams, and still maintain our standard of living.
Well I guess I should stop looking for an open window, since in the last two years I have not been able to find one. The building I work in has 31 floors of windows, and not one that opens. You would think at least one would open. As you can probably guess I work in a cubicle. By cubicle standards it is a great cubicle. It measures eleven or twelve by nine feet, has a work and meeting area. I am even one of the lucky ones who was able to snag a bookshelf. But that is another story. Even with it being a great cubicle, it is still a cubicle and I think, no I know, it was not where I was meant to be. Which is a view that is not shared by all my colleagues. Not that I should not be here, but that they think there is nothing wrong with our lot in life, and they are probably right. Maybe with time, I will lose my desire to do something constructive with my life, but for now I am trapped. I work for a large organization that offers good wages, decent benefits, and a Defined Benefit Plans. A Defined Benefit Plans is almost unheard of nowadays, and I am able to retire in 2028 with a full pension. In 2028 I will be 58 years old, and have no idea what I will do when I retire. As you probably guess, I work for the government. Makes you wonder why I am always looking for an open window doesn’t it.
I guess I should clarify the “open window” reference, before you think I am referring to suicide. I am not. The “open window” is a metaphorical reference to my escape. Escape from my cubicle; escape from the 9 to 5 so to speak, hence the name of the domain I have chosen. I guess I am not alone since the .com and .net tld’s of the domain are taken, I decided to grab the .ca domain for my blog. It really made more sense since I am Canadian, and the blog is not going to be a commercial venture for me. I plan on using it more to outline the ideas I have, and how well I implement them in my quest to find my open window.