If you start selling products and services that are in demand, you can almost guarantee that competition will spring up quickly. Some people say you have to think of a completely original idea to become successful. Yet, that isn’t always the case. If a product or service is needed, then there is usually plenty of room for many brands and businesses to differentiate and profit, even in the same industry.
If your business starts to grow, you will have to expand. Perhaps you started out locally, but now you’re preparing for a global market. If you have started with a country-specific domain, this means you need to establish a more generic one. You will also need to have country-specific domains for each of your target markets.
Even the world’s most successful entrepreneurs have experienced failure. It can often be one of the best ways to learn a lesson. Sometimes, it can be as simple as your company name not resonating with your targeted audiences. So, why not come up with a few alternative names you like, and buy all of the domain names now? It is much safer to be prepared than to be stuck and unable to get the domain name you want. Say your business falls flat, and you want to reinvent yourself — why not pivot along with a new brand?
When you are promoting different products and services, you might want a domain name specifically for that promotion. Think of Twitter. Whenever a new TV show or movie comes out, it gets its own new Twitter account. If you have distinct advertising strategies for varying markets, you might want more specified domain names.
Read MoreEven if you only have one brand or online identity, it’s beneficial to your business to register several domains, for various purposes, including warding off potential competition, running focused marketing campaigns, and even just holding on as a backup...
