Before we ever get to selling domain names, the first question one has to ask oneself in 2019, is Why? Why do I want to be a domain investor?
Possible answers are:
- I think it’s easy (It’s not)
There is a low barrier to entry and startup costs can be minimal. (That can be a plus and a minus) - I am well versed in linguistics and this just seems like a natural fit.
- I love to name things, I am the person that named the family business, I have given friends names for their product or service, I really enjoy doing that.
- I just believe in the growth of the Internet and believe it still has a long way to go. (maybe investing in Verisign or GoDaddy would be a better opportunity).
But you really need to have a firm answer and understanding of your answer as to why you are doing this.
Many people have no understanding of branding, linguistics, marketing, negotiation skills, etc…
There are millions of names that should have never been registered in any extension, and is just an endless cycle of a domainer hamster on a wheel going nowhere, but damn those little legs are moving, giving off the impression that things are moving. They are not.
I also believe some investors think they are at another level than what their portfolio quality, experience and bankroll are.
Many times someone who I know is broke, has told me “I am playing it like Rick, I don’t even reply to the first couple offers.” To which I always ask, do you own names that are the same quality as Rick?
Can you afford not to make a sale? Because Rick can afford to never sell another domain name.
There is a lot that goes into an assessment of one’s experience in domaining, many times the focus should be on the micro not the macro.
Is domaining harder? Of course it is, when 20 times the amount of people participate in something as opposed to the former number, competition is ratcheted up.
Bottom line this is not a sexy business, the early days when few people knew you could resell a domain for big money was the sexy time, when Frank Schilling was having people send him $1,000 per name when he thought he made a bulk sale for $1,000, that was a sexy time.
This is grinding, like Fantasy Sports, Poker, Affiliate Marketing, you better have a work ethic, be a hustler, have a better formula than others, or just plain get lucky.
But to walk in and say “Hello domaining, I don’t know why I am here but I heard this was easy.”
That horse left the barn a long time ago.
RaTHeaD says
some people see a portfolio of bad domains and ask WHY?
i OWN a portfolio of bad domains and ask WHY NOT!
BullS says
I get into domains because it is a “BullS” BS hobby and makes money!!
Easy peasy.
Mark Thorpe says
Because domain names are online real estate.
Because there can only be 1 registered owner per domain name.
Because the Internet leveled the playing field and offers unlimited potential.
But is domaining easy? Nope, far from it.
You’ve got to have an idea what’s going to be in demand.
Buy tomorrow, not today or yesterday.
BullS says
@Mark- sorry to hear that you find domaining hard for you, maybe it is the Canadian air.
For me, it is easy peasy.
Anthony Edward Mitchell says
The worst thing that ever happened was for me to sell a bunch of domains right off the bat in 2003-4. It fooled me into thinking that I knew what I was doing, and that I could ignore advice provided by others. The second worst thing was to price my domains too high, believing that they were more valuable than they really were, or that they were even valuable at all, which most were not. The third worst thing was to change too slowly when it became obvious that I was doing it all wrong. Maybe I’m still doing almost everything wrong. After all, I’m holding onto too many over-priced nTLDs.
Jose says
Starting in the domain market is very complicated, I always be a strategy in sales, advertising and logistics 24/365 delivery products sold and the most important thing for me to find the keyword so that the advertisers sold more before there was no Call to Action
I have learned more from domains and domaining with Rick than with my mentor each having different forms of business one being a pioneer and the second invested in domains before investing in Subprime luck not pure logic.
The domain inverters are made over the years and many times you want to end because this has changed and you do not make so much money in parking domains now all the ads of a keyword = domain go with Artificial Intelligence this last AI created by the brain of a human intelligence, because to describe this, for example very beast with AI, I have http://www.cr7body.com/ if you search on Google is a soccer player who has played on these teams Manchester United, Real Madrid and now with Juventus and in National Selection of Portugal because Portuguese nationality.
If you see in the calf there is no “CR7 body” nor is it having such artificial intellect is a dilapidated system Steam, Barça (Club that has never played CR7) Nike Steam the shoes of CR7 1 – 2 is the result in the web template with ads I will not have any click if searching CR7 million fans this player does not fit the keywords to make money on parkingcrew.net considered best for domainers as it says at the doors of Dictionary Keywords online.
I will end up asking a question and answer how many Domain Investors are equal to Rick, I think that very few of what he has written currently has 6500 domains (.com) and he finds investors who buy and sell new extensions in his blog describes them as stupid I invest in gtld because selling with profitability I consider myself a No!
Nor can I consider stupid domain investors to make speakers and talk about their purchases in domains (.xyz, .cars, .hosting ……. in the 1st annual asheville domain investor organization domain by Rick Schwartz I think that This person as a Domain Investor must have listened to music in a separate room or has the best not and then it has not been published to have some high words like doing with Frank Shilling in public.
After this bitter surprise of domain investor in Asheville I believe that we are all the same, we fall into the temptation of a rotten apple to make money a lot or a little.
Andrew says
Minor detail; Frank sold names for $10,000 each when he thought the deal was $10,000 total 😊