The theory is as follows: if I develop twenty websites and make $1,000 per month per website then I can rake in $20,000 per month, right?
The reality is: it’s not that easy. It is better to focus on one website and make $5,000 per month then to try and monetize 20 websites aimed at $20k all at once. Not only are your funds dispersed between these 20 websites but so is your focus.
If you think of running a website similar to running a business then it doesn’t make sense to focus on 20 businesses at once, right? (Unless you truly have the fund and time to delegate.)
So, what should you be doing instead?
Do your homework and carefully weigh the options
Development is NOT the only method to monetize a domain name. Besides parking, you can join an affiliate program, lead capture, sell to end users, use a platform and so on. The more experienced of a domainer you are, the more you figure out what works best for which type of domains.
Experiment around until you find something that works to your advantage. Sometimes you have to try many different options but never go full force with development until you explore all options first.
Create a roadmap before diving into domain development
Ask yourself: why am I developing this particular name instead of parking, selling or exploring all the other options? If the only reason for development is because you have hope that a little green payday leprechaun will visit your Paypal account on a daily basis: this isn’t good enough.
Your website has to fulfill a demand of some kind, in some fashion in order to be monetized. You cannot slap $2 articles purchased from some stranger who lives in a dark alley, paint on the Adsense and except to quit your day job over this.
Stear clear of Project ADHD
Even I catch myself jumping around from personal projects from time to time but some domainers get crazy with it! What happens when you build 50 sites that barely monetize? The same as if you had 5,000 sites that barely monetize: a pile of wasted internet air.
Concentrate on one project at a time and do it until you have successfully monetized it. Use the success of this one project to launch your next one and so on, so forth.
Don’t be afraid to invest in this (1) vision and create a realistic business plan
A great development plan for (1) website beats out 20 poorly executed websites any day. That’s why I never got into the whole “bulk development” trend or “minisites” because I don’t want to be involved in projects where a solid strategy isn’t in place.
Not to say that minisites don’t have their place. I think they can be a great alternative to domain parking.
But if you want to utilize domains to either quit your day job or live off domaining or fund other major developments then focusing on one website at a time will help you get there.