opinion Is Domaining based on pure luck

Riz M. said:

Disagree... i am newbie and i earned handsome money in last 4 months...Total time i am in this business since 9 months... so dont discourage newcomers please....Yes they should read before investing... we can say that

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Possible for you $100-200 which you earned is great money but for the most it's average daily spent.

Argentum said:

Possible for you $100-200 which you earned is great money but for the most it's average daily spent.

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may be 200-300 usd is handsome for you...
if i mean handsome its actually handsome... you are always discouraging everyone... grow up

There was that quote « The harder I work, the luckier I get » and I think it applies here too. Anything can be based on « pure luck » if you want to and then you can sit around and wait for life to happen and if it doesn’t turn out the way you wanted to - blame it on « bad luck ». Or you can work for it. To expand on what @Eric Lyon already said - you learn, practice, experiment - then you get luckier (odd that, hey). You learn from mistakes, there is no other way, it can be the mistakes of others, it can be your own mistakes. But knowledge comes with a price in all cases.

« is it on luck that a buyer may find you… » - short answer? Yes, if you are waiting for the buyer to find you. I’d ask why are you waiting though?

It's not pure luck.
(1) do your market research (industry, economics, demands)
(2) look for short-term and long-term investment opportunities

I will say
80% Explosure
20% Domain

kam said:

I will say
80% Explosure
20% Domain

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Well said

"Is Domaining based on pure luck"

Domaining is definitely not based on pure luck.

Pure luck plays a little bit of a factor. Maybe 10%.

Domain Names are anything you want them to be. A tool. A collectible. A cheap investment. A high priced investment. A beautiful piece of art. A pc of crap. Something that makes you laugh. Something that makes you cry. A liquid fast trade. A long term generational valuable retirement asset, etc.

Buying and selling of domains are one of the most complex things you can do, or it can be one of the easiest things you can do if you have a huge bankroll. Most dont have that luxury so have to think hard about each dollar invested. Here comes the talent.

How you are playing the game shows the true talent.

Do you have patience? Do you want to renew that domain year after year? Do you have the money to renew that domain year after year? Do you do outbound sales? Do you wait for inbounds only and have the upper edge on that sale? Do you use a broker to sell that name? Do you pay for some marketing to push the sale of your name? Did you buy correctly, at a wholesale level? Or did you buy at a retail level/end user price? How badly do you need that money invested in your domains today?

All of these factors come into play when domaining. None of those involve luck. Its knowledge, passion, intuition, financials and balls.

I have domains i have owned for over 10 yrs that i have had offers on but have always quoted a high price on. Lets say i sold one at a low price here at auction. You win then you sold it for a high price. Ok little luck involved but you still had to bid against others to get that domain. You had to have the money. You had to list it somewhere where it could be found, etc.

Very little luck is involved in domaining. Lots of time involved though. Time is money.

It is amazing but many people do this for a living. Some people pay all of their bills solely off of domaining. I respect anyone who does so because i know how hard it is sometimes. I know sometimes even the big dogs lose money to keep the lights on. But then they keep churning and burning. Then there is that magical immediate no haggle sale that you have to accept from a broker on the phone right now in the airport right as you are getting on a plane because the buyer wants it so bad. Was that luck? No, Its all about everything you did to get to that point.

Pure Luck does not exist in domaining. If it did, i guarantee you that person who relied on a pure luck sale once or twice is broke as hell now.

In domaining, you have to work very hard to create your own, once in a blue moon lucky moments.

The "hard work" mantra is inaccurate because the hardest working people are often the poorest. The biggest money makers in domaining are the people with the best domains. Most of which were bought many many years ago.

Well, simply working hard doesn't necessarily make you wealthy, but I haven't seen an exception to the mantra that hard work is needed to become wealthy (unless, I suppose, if you inherit it, or hit the lottery). Whether you come up with Instagram or MSFT, still it takes hard work to make the vision happen and build it up.

So let's just say that you must work hard to be successful, but working hard doesn't necessarily make you successful.


Soo...those of us who have the better domains from years ago we did put some work into it at some point, we didn't just pick randomly a bunch of names without any research thought or time/effort put in, no matter how long ago.

Are you feeling lucky tonight?

"Luck is quite predictable. If you want more luck, take more chances. Be more active. Show up more often." - Brian Tracy, Canadian-American motivational speaker




Save time? They were big in Europe and ~~~ almost famous in the USA
Save time? They were big in Europe and ~~~ almost famous in the USA







Chance favors only the prepared mind?
Chance favors only the prepared mind.
````
More than a century ago, Louis Pasteur said, "Chance favors only the prepared mind." By this he meant that sudden flashes of insight don't just happen— they are the products of preparation. Preparation, therefore, is the key to a successful and fulfilling scientific career....
www.asbmb.org/asbmbtoday/asbmbtoday_article.aspx?id=6314

You are lucky to get so many opinions too...

WingMan said:

Some people were "lucky" to have discovered domaining 15-20 years ago when all the good names were available for cheap. Some domainers were not born then or were too young to have participated! But in general, domaining needs a lot of hard work. You need to interact with other domainers and really need to spend the money when necessary. That said, some domainers are naturally more talented at spotting great names than others and there isn't much anyone can do about it.

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Well, I can assure you even 20 years ago all the best domains were taken. It took hours upon hours of work to find something of 'perceived value' even then it would be more likely something related to future technologies, Sure there was more chance that you would come across a hidden gem but they were few and far between.

What you could do though, is be inventive particularly with two word combos - Not many had gone there. Telling somebody, family or friend you were investing in domain names and they would discuss you mental state in your absence.

Good luck requires you to seize opportunities, then let time and belief deliver its judgement. Bad luck just requires you to sit and do nothing

Domainig is about developing the right skills and learning the insider info that can put one ahead in this game, but I agree that there could be instances of pure luck involved at certain times and with certain domains and when that happens you yourself will be the first one to know it. IMO

imadoer said:

I was having some bad luck last week. A friend of mine who was making sales lent me some luck as soon as he did boom offers and sales started coming in this week I must have sold like 8 domains and have 2 pending since the luck was borrowed I will give it back eventhough I dont want to

True story

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Any more of that luck to loan out ?

Yes.


But it is cut with other products to deliver a profitable mix. Some days my 2FA logins seem to deliver lucky codes and I think wow today is a lucky day. One day one six digit code started with 888 but nothing happened that day, recently the logins all looked good and Ping a five digit BIN sale hit my inbox. You really do have to think about luck when you wait for an unknown buyer to hit the lucky buy button.

In case you think I'm nuts, I'm not yet, I just get lucky enough times to stay in the game.

Luck is the drug and I need to score...

Luck plays a role in any business. (How long the domain is waiting before an order matching happens)

Domaining is a combination of several factors like
o Intrinsic value of the domain(3 letter, 4 letter)
o End user value of a domain(For example I own livelocation.net. This domain has lot of value for a
Startup or a grownup who develops a navigation app.)
o Pricing strategy
o Holding period
o Working capital levels
o Inflation
o Recession
o Bid-Ask spread

Its just like any other investment business...

No It is not pure luck. If a random newbie domainer was to look though my list and decide if they would own any of my domains chances are they would but I went though their lists I would be wasting my time trying to find anything to market. I don't think it is luck. Domaining is finding a precedence in keywords it is finding a niche most importantly It is motivating the end user to negotiate and making an effort.

imadoer said:

I was having some bad luck last week. A friend of mine who was making sales lent me some luck as soon as he did boom offers and sales started coming in this week I must have sold like 8 domains and have 2 pending since the luck was borrowed I will give it back eventhough I dont want to

True story

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Can you borrow me that "luck" for only 30 days, I want to sell my Netsol .com names for more. I am tired of selling them cheap.

MasterOfMyDomains said:

For some yes. 100% because they have no clue what their doing.

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That what it comes down to. It is clueless people who see it as luck, person who registered sex.com was not lucky, he saw something no one else did.

Furquah said:

Can you borrow me that "luck" for only 30 days, I want to sell my Netsol .com names for more. I am tired of selling them cheap.

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After that high five me with the luck i promise to pass it on.

The luck is in finding domains, but skill is knowing which domains to find and how to close deals.

kam said:

I will say
80% Explosure
20% Domain

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Exactly, and look at all the names Mike Mann is pushing -that guy could sell ice-encrusted ice cream cones, cooled by ice cubes, and all placed a hand-crafted ice box, to the Inuit. And they'd ask for seconds.

People forget that exposure and salesmanship are both key.

Domaining is primarily trade and domainers are actually traders. If you traded something before domains you would easily understand the nature of trade, domaining isn't different. Luck is the greatest determinant in trade regardless of expertise level. Nothing is based on pure luck. but nothing you can do will have a greater effect than your luck or misfortune.

Life is made of 80% luck, 20% of conscious efforts.
80-20 rule.

Based on pure luck? Definitely no. But imo with hard work, right skills, good strategy, systematic and a bit of luck then you'll make it well perhaps with shining colors. It all depends on you.

Luck can help


https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-684#post-7098280