Word of Advice Thread

TargetNames said:

Lastly, register what you would "love" to develop, whether or not you choose to do so. When you realize that you will have to monetize one of your domains, trust me, its best if it is a subject that you enjoy and that you can develop successfully.

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Nezam Uddin said:

I saw many of the members suggesting developing the domains. I want to know how do they monetize with that? Ads

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NPKJB said:

Without question, this is the best advice to live by if your a newbie. I sure wish I would have read this thread before I registered 50 domain names in the first week! I would have saved myself a pretty penny.

I've now learned to calm down and think rationally. DO YOUR RESEARCH! Don't just buy a name because you think it sounds cool. Cool sounding names don't guarrantee success in this business. Also, try to register names that have a high CPC rate. I get some traffic on a few of my domain names but only cash in on .5 per click. Believe me, that's not good!!

I wish everyone the best of luck. After my rough start, I sure could use some of that luck myself. :hehe:

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• 253,000,000 Google Search
• 38,600,000 Google Search
• 1,060,000 Google Search
• 327, 000 YouTube results

firefly said:

don't be afraid to ask a silly question.It's better than making a silly mistake :imho:

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simon johnson said:

Marbles21: I must admit I really don't post on forums that often - too busy making $$$. However, I thought I'd share this with you:

Find yourself a niche, get to know exactly what people are looking for and give them what they want. Spend time doing your research (it will save you $$$ in the long run) and focus. Once you build up a small portfolio in that niche, then diversify.

Best of luck - its a great industry to be in.

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• start slowly
• be realistic
• emphasize quality over quantity
• always be clear on a list of potential users/purchasers for each domain name
• join NamePros (ok you have already done that, good!)
• list many places (but BIN only at one!)
• specialize on niches that you know (while also maintaining some diversification)
• always keep learning, formally and informally
• think about return on investment (ROI) in a quantitative probabilistic way
• pricing is important - get it right!
• learn to use NameBio in a sophisticated way, and always research each name extensively
• be alert to savings opportunities and keep costs down
• follow up sales properly
• be professional, always

• Idefine and express a personal brand (in one sentence, who are you as a domainer)
• keep a domain diary of ideas, thoughts, reflections, etc.
• set domain professional development goals for the year
• consider adding a second gig that will help even out your income
• decide if you are in it for a job (yes or no is ok, but it changes the math re ROI)
• even if you don't plan to share it with potential purchasers, have a detailed 'sales sheet' for each domain name that should have a wealth of data on the name
• before you acquire a domain name, have a clear exit strategy - at what price would you sell, how long renew without inquiries, etc.
• know your risk tolerance and take that much, but not more, domain investing risk
• be alert to domainer addiction, and some ideas for helping control it
• maintain a healthy balance in your life, and dealing with depression and elation
• 'hang out' with domain smart people (and I list a dozen or so)
• use social media, but smartly and in a limited way
• learn to use automated tools but also be alert to their limitations and biases
• prioritize your time
• don't be greedy, particularly for first domain sale

Bob Hawkes said:

I must admit I just found this thread and should have earlier. Full of great heartfelt advice for those new to domain community, or those looking to get better. Thank you to all.

The last little while had been working on advice re domain investing. It is in a (rather long!) post at my blog (see bottom for link) but here are some of the main points....

Echo advice you will hear a lot, because it is true! Things such as:

• start slowly
• be realistic
• emphasize quality over quantity
• always be clear on a list of potential users/purchasers for each domain name
• join NamePros (ok you have already done that, good!)
• list many places (but BIN only at one!)
• specialize on niches that you know (while also maintaining some diversification)
• always keep learning, formally and informally
• think about return on investment (ROI) in a quantitative probabilistic way
• pricing is important - get it right!
• learn to use NameBio in a sophisticated way, and always research each name extensively
• be alert to savings opportunities and keep costs down
• follow up sales properly
• be professional, always

I also included some things that I think are important but less often said

• Idefine and express a personal brand (in one sentence, who are you as a domainer)
• keep a domain diary of ideas, thoughts, reflections, etc.
• set domain professional development goals for the year
• consider adding a second gig that will help even out your income
• decide if you are in it for a job (yes or no is ok, but it changes the math re ROI)
• even if you don't plan to share it with potential purchasers, have a detailed 'sales sheet' for each domain name that should have a wealth of data on the name
• before you acquire a domain name, have a clear exit strategy - at what price would you sell, how long renew without inquiries, etc.
• know your risk tolerance and take that much, but not more, domain investing risk
• be alert to domainer addiction, and some ideas for helping control it
• maintain a healthy balance in your life, and dealing with depression and elation
• 'hang out' with domain smart people (and I list a dozen or so)
• use social media, but smartly and in a limited way
• learn to use automated tools but also be alert to their limitations and biases
• prioritize your time
• don't be greedy, particularly for first domain sale

These are some of the highlights, but there are 46 items in total, some of which are in the following image for you pictorial people.

The link to the full post, which I will periodically refine, is here:

https://agreatnameforyou.blogspot.com/2018/08/advice-to-domain-investors.html

Thanks for reading!

Bob

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domeen said:

Why?
list many places (but BIN only at one!) ??
I say, BIN everywhere.

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FUN4MEE said:

Saving Domains?????

Hello Everyone,
I was surfing the web and came across this site. I am new to this and wanted to ask which site you would suggest I look at for typos and where should I save them? I have used the typo feature on DomainTools.com and it seems to work very well.
If I save the domain on that site do you know if there is any additional charge to put a landing page up? Where would you guys and gals save the names for the best value. I am going to save several hundred names and I want to make sure I do it at the right site.

Thank you for any help you can provide.

Dave

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Mike said:

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

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