Being lazy can cost you money

There are many things essential to being successful in domaining, after we get past having the financial ability to purchase domains, one of the  most important is consistency.

Domaining is a 365 days a year business, there are auctions on weekends and holidays. There are things going on in every timezone.

Consistency is important because you don’t want to have random luck in finding names and opportunities. If you don’t search names daily but every other day you may miss out on a name that is one you are looking for at a cheap price, or maybe for a development project.

There are times when I have not been and being busy with other things I missed a domain. I focus on certain kinds of names, one of them being domains ending in media. I have always tracked all the llmedia.com names, they are all registered and rarely drop. A couple years ago XLMedia.com dropped and was hand regged, it was sold  for $6,000. Not bad for a less than a year hold on a hand reg.

I remember not keeping up with my lists and tracking names back then, I had seen XLMedia.com the day after it dropped and was regged, now I don’t know I would have gotten it, but I would have jumped through a lot of hoops to try if I had been doing the usual work I do for those kinds of names.

Of course you get busy and other things can take priority, you may not be able to scan everything but at least you a couple tools to consistently be on top of your favorite niches.

Consistency on Domain Forums

You never know what is going to show up on a domain forum sales thread, a lot of the times you are frustrated, asking who thinks this is premium ? It can be a boring day in and day out exercise. Then you find a name that someone either needs to move cheap or they don’t know what they own, you pick up a domain for $20 that you sell for $1000 within a week. You need to look everyday to find the gems that could appear on one particular day.

Being lazy can cost you money

I am talking to myself here, I have had a few episodes where being lazy or procrastinating has cost actual dollars.

MissionMark.com was a domain name list for sale in the bargain bin section of Namepros. The seller was unloading hundreds of brandable domains. He was lowering the price every couple days, $20, $18, $15, so I kept looking at MissionMark.com and I liked the name, but I was complacent thinking no one is really buying these names, there were a few sales, but no one is going to pick out the one I am eyeing.

I go back to writing and check the thread a couple days later and now the names are $5 if you will buy 50 in bulk. I think to myself cool, I will get MissionMark.com and some other names.

But, alas MissionMark.com was not on the list, it was not sold but removed. I buy 50 other names and that bulk buy has been successful, I have gotten some of the names approved on BrandBucket. I flipped 4 of them for $25 each, sold another for $300.

I am reading the chart on DNBolt.com last month and I see MissionMark.com sold for what I think was $2,195 I don’t remember the exact but that’s close. I thought damn, you lazy idiot, all you had to do was post sold at $15.

Texting.io was a domain I picked up for $58 on Name.com, I knew there was one place to sell it and that was Flippa. I kept saying I will get around to it and before you know it, the domain is getting ready to expired. Did I really procrastinate close to a year ? Yes ! So I put it on Namepros and get $100.

I see a few weeks later the buyer sold it for $500 on Flippa. Now it turns out the sale did not go through but there were other bidders over my sale price of $100. So again being lazy I believe cost me a much higher sale price.

Those are just a couple of examples of mine, I also see it on Namepros where people don’t run their auctions for maximum effectiveness.

I did write a guide to sell better on Namepros which you can read here.