Cooldomainideas
Established Member
- Impact
- 135
To sum it up. The same reason people fail in domaining is the same reason why they fail in stocks, hitching, forex, freelancing,, starting a business etc.. No one wants to wait. Which is normal. Any decent hand-reg imo should be worth at least $100. If you buy for $8, renew 2 times(8 +8 + 8), you will profit 100-24=76. But then the question becomes who wants to wait 3 years for 76 dollars?
The trick I've learned is you don't "wait" per say. You place it in motion (purchase the domain,list for sale) and then don't anticipate the sale. Almost as if you could care less if you made a profit(although that is the goal). I sold my first domain 60 days after I hand regged it. Granted if I didn't receive the sale, I wouldn't be as optimistic. But it made me optimistic enough to continue and learn more.
In 2018 or so, I started learning about stocks and invested in chegg. If I stuck to plan and stayed with chegg and let it sit for years, I would be up. But I was too excited to trade, so I kept buying and trade. Fortunately I loss is only in the hundreds and it was money I was willing to lose.
Which goes on to the next point, when you are using money you are willing to lose, you can be more patient and relaxed. If you are gambling with your rent money, then you're going to be a bit more tense.
Domaining should be placed as a secondary goal when starting off and then primary once you have a proven strategy. If you need money right away, you should find something else to invest in and buy 2 hand regs a month.
The trick I've learned is you don't "wait" per say. You place it in motion (purchase the domain,list for sale) and then don't anticipate the sale. Almost as if you could care less if you made a profit(although that is the goal). I sold my first domain 60 days after I hand regged it. Granted if I didn't receive the sale, I wouldn't be as optimistic. But it made me optimistic enough to continue and learn more.
In 2018 or so, I started learning about stocks and invested in chegg. If I stuck to plan and stayed with chegg and let it sit for years, I would be up. But I was too excited to trade, so I kept buying and trade. Fortunately I loss is only in the hundreds and it was money I was willing to lose.
Which goes on to the next point, when you are using money you are willing to lose, you can be more patient and relaxed. If you are gambling with your rent money, then you're going to be a bit more tense.
Domaining should be placed as a secondary goal when starting off and then primary once you have a proven strategy. If you need money right away, you should find something else to invest in and buy 2 hand regs a month.
