19th November 2008
Entrepreneur tells rags-to-riches domain name success story
Domain name news brought to you by DescriptiveDomainNames.com
One of the domain name industry's leading figures has told the story of how he turned around his career to emerge at the top of his profession.
Michael Gilmour turned to investing in domain names after his ISP business went from boom to bust "almost overnight".
He had to lay off 22 staff and close the business. Then, with his last $100, he invested in a domain name - which grew in value by 50 cents a day after the purchase.
"I was over the moon! I'd hit the jackpot! What I saw was the fact that I'd earned 50 cents with no effort after the initial investment," he explained to DN Journal.
After that, he and his wife began selling belongings purely to create funds to spend on domain names, which he then sold on - and soon, they were able to cover their living costs and reinvest the rest.
Those looking to replicate the success of Mr Gilmour might like to invest in generic domain names.
According to Sedo, generic domain names Invest.com, Tell.com and Tees.com have been among the biggest sellers this year.
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