The digital economy in its short span of existence has surpassed many traditional companies in terms of reach, wealth, and influence. The digital economic model has revolutionized the way we live, communicate, move from one point to another and even the way we project and plan for the future. If you take Uber’s “digital economy” transportation model, for example, and compare it to New York’s traditional “yellow cabs” transportation model, your conclusion will only be left for your imagination to fathom. The same can also be said for Facebook, Google, Twitter, Wikipedia, as they have all dramatically revolutionized the way we access information, learn new skills, and understand the world around us.

There is no profit stating the fact that we may not all have everything it takes to build the next Facebook or Google, but there is no question that there are millions and one of the ways to make a profit by taking advantage of the digital economy. One of the ways to achieve this is through domain names. Do you know that you can get benefits with domain names?

If you want a simple strategy for making money from a domain name, here’s an idea that 99.9 percent of domain name owners overlook.

The ways you can benefit from a domain name include, but are not limited to, the following:

1. Sell it: You can sell the domain name for a profit.

2. Rent it: You can rent the name or the name traffic to a company that is willing to pay for the traffic or even rent email addresses attached to the domain name. For example, if you own the domain name http://www.lawyers.com , you could charge the attorneys an amount for your [email protected] and generate long-term recurring earnings and it will cost you nothing to do this.

3. Take advantage of it: You can create a website from the domain name and benefit from the traffic or services offered by the website.

4. Rent it: You can rent the domain name to a company that wants the name and associated traffic. A domain is like real estate, which can have different tenants, cash flow, and owners.

5. Park It – When you have a domain name but don’t want to set up a website until the time is right, you can “park” it with a parking service. A parking service works with Google, Yahoo, and some other parking service companies to sell advertising or clicks that lead a potential customer of your domain name to an advertiser’s website. The parking service places a parking page on your domain and then pays you every time someone enters your site and clicks on a link. This is a good strategy, especially for sites with a lot of direct browsing traffic.

For those of you who watch the market, watch trends, and pay attention to new words, concepts, ideas, and market changes, there will be a domain name that will attract web traffic. And that generates income.