Initially, I built out my business and content on a website, but recently I had a big opportunity to solidify my name as its own brand.
In business, you want to get your own name as a .com if you can. Of course, there are going to be many people with the same name as you, but there are many benefits to having your own .com name for your brand. Going forward, you have your business and its own brand, but you also have to think about yourself as an individual and personality in terms of brand building.
For example, I have my own brand of Simon Lovell, but I also can extend my brand with a business branch called Fitpreneurs. This allows you to leverage your own positioning because, in reality, people invest in you when they do business with you. As you grow and establish credibility for yourself and your own brand name, you can start to transfer and carry that credibility over to the other brands you have created alongside.
This all depends on how big you want to grow.
Often, people ask if they should build their personal brand or if they should build things under their business. This all depends on what your intentions are.
If you are looking to sell your business, you are going to approach this solution differently than if you want to create long-term growth and continue to see how big you can grow the company.
Personally, I am wanting to build up myself and allow people to follow my journey and the different things I am doing through my life. Because of this, I am building my personal brand and then leveraging my credibility to my other brands to help propel them forward.
The Investment in SimonLovell.com and Myself
With all of this being said, how much did I end up paying for the right to my own name as a .com?
This may seem like a lot for my own name, but compared to what I would have paid for it, this was a steal. There was no negotiation or delay when I was told this offer. How much would I have paid for this domain to help my personal branding?
I would have paid $10,000 because it is an investment. I know that by creating and building my own personal brand is going to be hugely valuable later on and will eventually become a massive asset to me as my brand builds.
If you believe you are going to do something huge and you believe you are going to take action on it, you have to secure the brand surrounding it by investing into it. Some people cannot afford $10,000, or $750, but even investing $5 into your business will pay itself back in the future. The more money you generate and reinvest, the bigger things you can do in the future.
The takeaway here is that I have purchased domains in the past for $20, but I did not take action with them. Buying SimonLovell.com would be a piss-poor investment if I wasn’t going to do anything with it. So many people buy tools and domains but do not build anything upon them. I paid so much for this domain because I know the things I am going to be doing next year are going to bring a massive return on investment.
– Simon Lovell