It Looks Easy...

TekkFolio said:

Welcome to namePros! @itlookseasy

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itlookseasy said:

I really need to figure out how to sell most of all. So far it's a bit daunting, and I still need to make my first sale. It's like I'm scared of the outcome good or bad.

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Silentptnr said:

Struggle reminds us to appreciate what we have and what we have earned

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itlookseasy said:

Hey guys,
Been lurking for a week or two, and haven't really had many questions I couldn't find the answers for (great forum). There is so much to know about this business, and just like my handle, it looks easy (but it's not).

I was first interested in domains about 10 years ago, but life got overwhelming and I unfortunately let everything expire and gave up on the dream. Well, life has been a ride since then to say the least, and now I'm in a transition. Financially I'm at an all time low ( I made $0.00 last year), I sleep on a cot, and live primarily on PB&J and water. (Don't judge me haha) I've managed to get a couple broken old thinkpads off craigslist and fix them, took some youtube tutorials, and started designing and selling vector graphics online. I'm now taking the very little bit of income I get from that, and investing in domains with my hammy-down laptop. Luckily I eat cheap and my cot is portable. I hope one day I can thank some of you in my future success story

I'm trying to be picky with the names I hand register since my whole life is starting from literally ZERO, but I'm sure I'm already making mistakes. I have a book with around 1600 available names I found in the last week or so. I really need to figure out how to sell most of all. So far it's a bit daunting, and I still need to make my first sale. It's like I'm scared of the outcome good or bad. What I really need is a mentor. Or someone to say, look at this, this is how we make money. If only it were that simple.. HA

Anyway, time to cut the novel short. Thanks for reading, and I hope to meet some of you creative geniuses in the future.

Some coms I registered in the last week: Deadful, RiffClass, PVTinvestigate, Motocroz, Namefam

-William

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itlookseasy said:

Ok here it is, all my hard work finally -paid off.

Drum roll please.............................................................

My first sale:

Domain: CurrencyCrypto ● cc
Venue: NamePros Auction
Sale Price: $10
Paid: $9.85
Gross Profit: $0.15
PayPal Fee: $0.74
Profit Loss: -$0.59

This doesn't include my time to search, hand register, list on NP, bump, communicate with buyer, and transfer.

I'd say that's 20 minutes. I charge no less than $50 per hour for my time, so that calculates to:

20 minutes x 3 = 60 minutes

$50 pr hr ÷ 3 = $16.67

-$16.67 + -$0.59 = -$17.26

So in my mind it is a total loss of -$17.26

But I'd rather say it's a course in how not to sell domains for the bargain steal of $17.26

What am I learning?
From now on I will factor my time into the starting bid, choose better domains, strategically choose bump time, and choose a more appropriate platform to sell the domain (auction, make offer, bin). I like NamePros, and love that the auctions are free, but from what I gather it's best used as a place to liquidate domains. I might be wrong, and please correct me if there is anyone using namepros to extract maximum value (as far as selling to resellers) and making a full time living selling on this platform. I'd love to see what it takes to do that here (if it's even possible).

Namepros auctions are a great place to get your feet wet, and that's exactly what I did (wet with tears).
However I did gain a +1 on my trade rating here which is probably worth at least $1, being that I can sell a domain for $1 and get a positive rating.

I can say, the push process on dynadot is amazingly straight forward and smooth, and so far that is my registrar of choice for a few reasons: Affordable pricing and renews, bulk transfers, great UI, and a few other features I really like.

I've learned a bit, but need to keep trading before I really even begin to figure things out.

If anyone has any advice or input, please share.

That's it for now.

Thank's to everyone who has been friendly, helped me so far, given me confidence, sent me links, and bid on my auction of a crap domain with slight potential.

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