Many entrepreneurs enter the domain industry with high hopes, only to be confronted with endless paths and options, which can make becoming successful incredibly difficult if not pursued carefully. For many, domain name speculation is not as easy as it seems, despite appearances from the outside.
While this doesn’t necessarily mean failure is impending, it does usually mean that you’re not likely to succeed as fast as the expectations that you set for yourself.
How you define your success or failure will go a long way as you begin your journey. For instance, a disappointment for some may simply be not ending negotiations as anticipated. Yet to others, a sale may still be considered an overall success. While turning domain names bought for registration fee and selling them in excess of $1000 are an obvious examples, there are many ways to perceive your own success.
Everyone is looking for a successful direction in their career, whatever that may be. Nevertheless, we sometimes need to cut losses in order to reach that goal. Because we’re all human, we learn and grow from our mistakes, which we will inevitably make. These mistakes don’t have to define us or our ability to triumph in the end.
“DO IT!!” and “DON’T QUIT!!” are attitudes that you should have to live by in this world, and how you use them as you embark will demonstrate your ability and understanding of the domain industry. In turn, they will help tremendously, guiding and propelling you towards success.
As suggested, there are really only two options in domain speculation: going for the gold or going broke in doing so – the difference between giving up, and giving in. Neither is an out. You simply don’t have the option to give up, rather sometimes give in, if you want to make this a career. Anyone who has made a name for themselves can attest to the power of this mantra.
Personally, I have the DO IT!! attitude, but there has been more than one occasion that it’s caused me some strife.
Once, I bought into a very lucrative niche, but it just so happened that I had no idea what I was getting myself into. On this particular project, my initial investment was in the mid-four figure range, not to mention the additional monthly expenses consisting of thousands spent on AdWords and other marketing campaigns to maintain my meager presence low on page two of Google. But with little to no profit, it came to the point where I realized quitting and walking away was better than losing it all.
At the time, this was a failure. Yet, looking back, it was success in guise. If I had chosen to unwisely continue to invest in a niche I was unfamiliar with, I would have undoubtedly lost my shirt, wasting more time and energy in mastering something I was unprepared for.
In a time like this, the success is knowing when enough is enough. Becoming an intuitive domain investor and sticking with what you know is key. In the end, I decided to DO IT!!, moving forward to open myself up to other opportunities that awaited.
We’ve all heard the famous saying, “choose your battles.” This sentiment holds especially true while speculating on domain names. There will be many times you are faced with similar difficult situations, and choosing your battles will be the defining factor between a profit or a loss. You will always be more successful if you avoid or walk away from situations that aren't panning out the way you had hoped, especially when you have no interest or expertise in them.
Live and learn, then repeat – But never quit.
While this doesn’t necessarily mean failure is impending, it does usually mean that you’re not likely to succeed as fast as the expectations that you set for yourself.
How you define your success or failure will go a long way as you begin your journey. For instance, a disappointment for some may simply be not ending negotiations as anticipated. Yet to others, a sale may still be considered an overall success. While turning domain names bought for registration fee and selling them in excess of $1000 are an obvious examples, there are many ways to perceive your own success.
Everyone is looking for a successful direction in their career, whatever that may be. Nevertheless, we sometimes need to cut losses in order to reach that goal. Because we’re all human, we learn and grow from our mistakes, which we will inevitably make. These mistakes don’t have to define us or our ability to triumph in the end.
“DO IT!!” and “DON’T QUIT!!” are attitudes that you should have to live by in this world, and how you use them as you embark will demonstrate your ability and understanding of the domain industry. In turn, they will help tremendously, guiding and propelling you towards success.
As suggested, there are really only two options in domain speculation: going for the gold or going broke in doing so – the difference between giving up, and giving in. Neither is an out. You simply don’t have the option to give up, rather sometimes give in, if you want to make this a career. Anyone who has made a name for themselves can attest to the power of this mantra.
Personally, I have the DO IT!! attitude, but there has been more than one occasion that it’s caused me some strife.
Once, I bought into a very lucrative niche, but it just so happened that I had no idea what I was getting myself into. On this particular project, my initial investment was in the mid-four figure range, not to mention the additional monthly expenses consisting of thousands spent on AdWords and other marketing campaigns to maintain my meager presence low on page two of Google. But with little to no profit, it came to the point where I realized quitting and walking away was better than losing it all.
At the time, this was a failure. Yet, looking back, it was success in guise. If I had chosen to unwisely continue to invest in a niche I was unfamiliar with, I would have undoubtedly lost my shirt, wasting more time and energy in mastering something I was unprepared for.
In a time like this, the success is knowing when enough is enough. Becoming an intuitive domain investor and sticking with what you know is key. In the end, I decided to DO IT!!, moving forward to open myself up to other opportunities that awaited.
We’ve all heard the famous saying, “choose your battles.” This sentiment holds especially true while speculating on domain names. There will be many times you are faced with similar difficult situations, and choosing your battles will be the defining factor between a profit or a loss. You will always be more successful if you avoid or walk away from situations that aren't panning out the way you had hoped, especially when you have no interest or expertise in them.
Live and learn, then repeat – But never quit.
