Aged Domains and ODYS and the Story Behind Them | Podcast with Alex Drew

Last updated: Jun 21, 2023

The video is a podcast interview with Alex Drew, discussing the story behind ODYS, a marketplace for aged domains, and their plans to expand into other services such as hosting, affiliate websites, and mentoring.

The video is a podcast interview with Alex Drew, discussing the story behind ODYS, a marketplace for aged domains. The founder of ODYS explains that he started the marketplace because he was tired of selling domains through a spreadsheet and wanted to create a platform where people could easily buy and sell domains. The marketplace also offers additional services such as hosting, done-for-you affiliate websites, and mentoring. The founder also talks about the team behind ODYS and how they have progressed and faced challenges over the years.

  • ODYS is a marketplace for aged domains, founded in 2017.
  • The marketplace was created to increase the perception of value of a domain.
  • ODYS plans to expand into other services such as hosting, affiliate websites, and mentoring.
  • ODYS recently launched the Cellular Domains initiative, allowing users to sell their unused domains.
  • ODYS initially had a team in India that the founder personally trained.
  • ODYS started as a word-of-mouth business before becoming a marketplace for aged domains.
  • ODYS found that having an office led to an agency mindset, where the goal was to deliver something for the sake of delivering, rather than getting results.
  • Managing remote staff is tough, but strong leadership is essential.
  • ODYS plans to become a one-stop-shop for entrepreneurs looking to start an online business.

Aged Domains and ODYS and the Story Behind Them | Podcast with Alex Drew - YouTube

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Background and Motivation

  • ODYS is a marketplace for aged domains.
  • The company was registered in 2017 and the first version of the marketplace went live in 2019.
  • The founder got tired of selling domains through a spreadsheet and wanted to build a great company.
  • The marketplace was created to increase the perception of value of a domain.
  • ODYS plans to expand into other services such as hosting, affiliate websites, and mentoring.
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Additional Services

  • ODYS recently launched the Cellular Domains initiative, allowing users to sell their unused domains.
  • The marketplace plans to expand into other services such as hosting, done-for-you affiliate websites, and mentoring.
  • ODYS launched hosting not to compete with other companies, but to provide a trusted option for users who don't want to deal with other companies.
  • Mentoring services will be available for users who need help launching a website or bouncing ideas off someone.
  • ODYS wants to encourage people to do their own thing and provide resources to help them succeed.
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Team and Scaling

  • ODYS initially had a team in India that the founder personally trained.
  • The team has remained intact and the founder is proud of their loyalty.
  • Scaling has been a challenge due to unexpected life events.
  • The company plans to continue growing and expanding its services.
  • The founder is actively involved in promoting the company and speaking at events.
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Aged Domains and ODYS and the Story Behind Them | Podcast with Alex Drew - YouTube

Initial Setup and Expansion

  • ODYS started as a word-of-mouth business before becoming a marketplace for aged domains.
  • The company was incorporated in Estonia and later expanded to Romania.
  • ODYS partnered with an expert in domain acquisition to handle the domain investing part of the business.
  • The company is expanding in two directions: partnerships and scaling the marketplace through technology and inventory.
  • ODYS has a remote team and is transitioning to a fully remote setup.
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Challenges with Office Setup

  • ODYS found that having an office led to an agency mindset, where the goal was to deliver something for the sake of delivering, rather than getting results.
  • The company is a product company and needs to sell to finance salaries and growth.
  • Having an office led to laziness and lack of motivation among employees.
  • ODYS is moving towards a format with a core team of no more than 10-15 people and individual contractors who are paid based on performance.
  • The company aims to avoid any lazy behavior and ensure that everyone knows what to do and what's in it for them.
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Managing Remote Staff

  • Managing remote staff is tough, but strong leadership is essential.
  • Setting goals and letting employees work towards them is important.
  • ODYS keeps its Indian staff motivated by providing strong leadership, setting goals, and offering a stable salary.
  • ODYS is transitioning to a performance-based payment system for individual contractors.
  • The company believes that a performance-based system will keep contractors motivated and ensure that they are paid based on their results.
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Future Plans

  • ODYS plans to expand into other services, such as hosting, affiliate websites, and mentoring.
  • The company aims to become a one-stop-shop for entrepreneurs looking to start an online business.
  • ODYS is also exploring the possibility of expanding into other markets, such as the US and Europe.
  • The company believes that there is a huge potential for growth in the online business space and is committed to helping entrepreneurs succeed.
  • ODYS is constantly looking for new opportunities and ways to improve its services.
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Building Strong Systems

  • Creating systems with no single point of failure.
  • Strong leadership and goal setting.
  • Delegating tasks to team members.
  • Allowing team members to create their own systems.
  • Providing autonomy to team members.
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Finding Good Developers

  • Hiring agencies through recommendations.
  • Working with independent contractors with skin in the game.
  • Setting goals and tasks and paying for them.
  • Avoiding monthly wages to prevent laziness and delays.
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Expanding Services

  • Plans to expand into hosting, affiliate websites, and mentoring.
  • Exploring new opportunities and services.
  • Continuously improving and evolving the business.
  • Adapting to changes in the market and industry.
  • Staying ahead of the competition.
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Lessons Learned

  • Allowing team members to create their own systems can lead to success.
  • Delegating tasks and providing autonomy can lead to better results.
  • Monthly wages can lead to laziness and delays.
  • Setting goals and tasks and paying for them can lead to better outcomes.
  • Adapting to changes and continuously improving is crucial for success.
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Challenges in Building the Platform

  • Building things has always been a huge challenge.
  • Investing in building the platform gave them an advantage over competitors.
  • Many competitors still use spreadsheets.
  • The ODYS platform is simple and easy to use.
  • Encouraging developers to work faster by offering a bonus is a good suggestion.
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What Works in Promoting a Marketplace

  • Networking and partnerships work well in the SEO domains and niche sites community.
  • Exposing yourself by networking makes you more accountable and responsible for your business.
  • Being out there through partners has worked well for ODYS.
  • Partnerships are important for growth and exposure.
  • Facebook ads and other paid advertising did not work as well as recommendations and introductions.
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Lessons Learned from Building a Marketplace

  • Investing in building the platform gave ODYS an advantage over competitors.
  • Networking and partnerships are important for growth and exposure.
  • Exposing yourself by networking makes you more accountable and responsible for your business.
  • Recommendations and introductions work better than paid advertising.
  • Partnerships are important for growth and exposure.
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Future Plans for ODYS

  • ODYS plans to expand into other services such as hosting, affiliate websites, and mentoring.
  • They want to create a one-stop-shop for all things related to SEO domains and niche sites.
  • They are also planning to be more proactive in promoting themselves.
  • They will continue to invest in partnerships and networking.
  • They believe that exposing themselves through networking makes them more accountable and responsible for their business.
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Partnering with Other Businesses

  • Choosing partners carefully is important for success.
  • Testing partnerships is necessary to see what works.
  • Randomness can sometimes lead to surprising success.
  • Partnerships are part of the overall Partners project.
  • Relationship building events and podcasts are important for networking.
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Sponsoring Events

  • Sponsoring events is part of the Partners project.
  • Events can be a good way to build relationships and network.
  • Choosing events to sponsor should be based on the quality of speakers and potential audience.
  • Sponsoring events can be like investing in startups.
  • Testing different events can lead to surprising success.
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Cost Accounting vs. Throughput Accounting

  • Cost accounting only looks at the cost of a project, while throughput accounting looks at the overall profit.
  • Throughput accounting has changed the mindset of the business.
  • Testing partnerships and events is necessary to see overall profit.
  • Randomness can sometimes lead to surprising success.
  • Partnerships and events are part of the overall Partners project.
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Diversifying Business Services

  • ODYS plans to expand into other services such as hosting, affiliate websites, and mentoring.
  • Diversifying services can lead to overall growth and success.
  • Expanding into new services requires careful planning and testing.
  • Networking and building relationships are important for success in all services.
  • Randomness can sometimes lead to surprising success in new services.
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Importance of Branding and Sponsorship

  • Branding is done through word of mouth and positioning oneself as an authority.
  • Investing in partnerships and sponsorships requires thinking about the bigger picture and the long-term benefits.
  • Brand awareness is important even if there are no immediate sales.
  • Events that may not seem like a good fit can still be beneficial for brand exposure.
  • Targeting events and partnerships that align with the company's focus is important.
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Expanding the Marketplace

  • The marketplace is transitioning from a shop to a true marketplace connecting buyers and sellers.
  • Hand-picked domains and extra services like mentors will be added to the marketplace.
  • Tools like a domain comparison tool and a redirect tool are being developed to add value for buyers.
  • The marketplace will continue to focus on high-ticket items like domains.
  • The goal is to become a one-stop-shop for all things related to website development and growth.
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The Importance of Aged Domains

  • Aged domains have more authority and can help with SEO and website growth.
  • Investing in aged domains can be a better strategy than relying solely on ads.
  • The average price of a domain in the marketplace is around $3,000.
  • Investing in aged domains requires a long-term strategy and patience.
  • ODYS focuses on finding high-quality aged domains with potential for growth.
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The Future of ODYS

  • ODYS plans to expand into other services like hosting and affiliate websites.
  • The company is also considering offering mentoring services to help buyers grow their websites.
  • The goal is to become a comprehensive platform for website development and growth.
  • ODYS is constantly looking for new ways to add value for buyers and sellers in the marketplace.
  • The company is committed to providing high-quality services and building long-term relationships with customers.
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Section 1: Success with Aged Domains

  • Azadine is a successful user of aged domains who makes a lot of money.
  • He doesn't believe in buying links and instead uses the power of aged domains and an aggressive content strategy.
  • Consistency is key, and Azadine is very consistent in going after his niche and not settling until he gets results.
  • He bought 25-30 domains at full price from various marketplaces and knows what he's doing.
  • Many people procrastinate and overthink things, but Azadine is a doer who takes action and gets things done.
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Section 2: Alex Drew's Speaking Engagements and Personal Brand

  • Alex Drew was surprised by the turnout at a recent workshop he did, with 30-50 people showing up.
  • He enjoys speaking and is a big fan of community-driven businesses.
  • He has used people like Diggity and others to promote ODYS and is comfortable speaking in front of an audience.
  • He believes in failing quickly as a way to success.
  • He is open to doing more podcasts and going more technical in the future.
  • He is approachable and open to answering any questions people may have about ODYS.

Watch the video on YouTube:
Aged Domains and ODYS and the Story Behind Them | Podcast with Alex Drew - YouTube

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