Idea Ownership Cost is the cost of owning the domain name that will host your future project that is only an idea in your head.

For example, let’s say that you have the idea of a shiny new SaaS project - EasyFriday. Usually, you’d want to have the relevant “.com” domain name. So, if you buy easyfriday.com on the basis that one day you may build that idea of yours, your “idea ownership cost” will be paying for the domain name for about 3 years on average. Also bear in mind that renewals are more expensive than registration (in most cases).

My rough estimate is that the average idea ownership cost will be about $50 ($12 + $18 + $18).

I’ve come with this term so that I’m aware what’s the price I’m paying for generating project ideas and buying the relevant domain names. I believe I’ve lost a considerable amount of money in this process due to buying domain names and never finding the time or follow up enthusiasm to build the projects.