As a new domainer,
.5, Patience. It's a virtue, but also the key to surviving the domain game.
1, read the NamePros legal section FIRST! it's too easy to fall to the temptation of registering a name that actually is trademarked by someone else.
2, Either have a broad understanding of internet/domain dynamics or pick your niche(s) that you're well versed in. Why? Because in your area of expertise, you will know future developments, trends and product launches. This level of knowledge can give you a comfortable head start.
3, End User is KING!
4, Unfortunately, this industry is HIGHLY competitive. While NP has a great community, at the end of the day, everyone is striving to protect their interest, so don't expect anyone to share knowledge just because your name/NP ID is cute. (To this day i'm trying to figure out how some people are doing it: Spade, NameTrader, Yofie - just to name 3 that came to mind first...)
4.5, If you have "deeper" pockets, familiarize yourself with the Domain Auction Houses, such as Snapnames, TDNAM, Sedo, etc. and be on the lookout for drops - which is a science in itself....
5, PPC or Development. Never let your domains sit there and generate money for the likes of GoDaddy, etc. Once you own the domain, IMMEDIATELY park it until you get to develop it. While development should ALWAYS be the goal, there are some domains that are better being parked.
6, If you don't have these skills already, GET THEM! ASAP!! Which skills? Oh yeah, development (the evil word) ! It's vital, it's essential, it's your golden egg in the basket that you don't own just yet. Basic HTML, .php, JavaScript. Then there's the graphic aspect. Photoshop (Fireworks), Flash, etc. You don't have to be an expert, but you should be knowledegable to a certain extent, it's going to make your life easier.
6.5; You do have options then: Own domains for PPC. Develop domains for the long term. Buy undervalued sites and spruce them up for flipping. No one said that Flipping is restricted to Real Estate.
7, The most convenient solution for domainers: Domain Tasting. There's quite some controversy about this topic, I for one absolutely am in 100% favor of this practice. Make use of it with every domain you register. Some registrars are charging a small fee for tasting, which in the end will still save you tons of money. Register > Park: you realize that the domain you registered is insufficient in self support through parking > cancel the domain.
8, Network. Network and while you're at it, Network some more. It's all about who you know, how well established you are, your reputation, honesty, ethics, etc.
9, Read first, then ask. While new domainers are quickly forgiven when they ask redundant questions or questions that have been answered a billion times, nothing is more questionable than seeing the same question 10 times when the answer is sitting in the thread that's just one click away. If you read the threads and the answer is still not clear -> Ask as much as you can. Contradictory? Not really. Just Read > Then ask
and the final #10, Be Persistent. Domaining as opposed to Stock Trading is not a business of dynamic. It's asking for a steady hand with sometimes long term vision.
That's my 10cents of domainer's knowledge. I should adhere to most of these points myself. But as always, it's easier to preach than to actually do.
IB
