Hello people...
I wish to point out a lot of things when you start a domain name business. Here is how you can reduce the learning curve and jump on the bandwagon early:
1) Belief: The very first thing when starting out is the 'belief' that this business is for real and to make a sale or two 'yourself'. When I started out, I had a doubt whether it was at all possible to make money online.
If it was, whether it was possible for me to make it? That was a doubt that I had until my first sale. Then I knew it was a combination of hard and smart work that will get it going.
2) Research: When appraising domain names in the appraisal section, I find a lot of newbies going for distant cctlds, .biz, .info etc. Which I personally think is the wrong way to start off. These don't sell easily and you end up losing hope and giving up on those dreams and this business altogether.
STICK WITH .COM when starting out.
3) Geo-domain names: When starting out, one of the things that has a high chance of working, is going for geo-domain names. Geo domains consists of a geography(City/Country name) + a niche(maybe a profession/product) etc. This is by far one of the easiest ones to flip than any other domain names(that's my opinion and it may differ from person to person). Example, TexasPhotobooth.com and similar names.
If it has worked for myself and some others, chances are, it might work for you too.
4) Reach out: When starting out and going for spamming a FB group/a whatsapp group or some other place with a sale post 'hoping' to make a sale, go for outbound. Ask for appraisals, take suggestions and then go for email outbound. Try different strategies, timing, email template. Experiment and improvise. Look for what is hot and selling.
Check out this section of post to see what's selling
Have a holistic and in-depth picture of what sells and what not. Once you are there, start buying and maintaining a cash flow, building a portfolio and putting up a game plan.
5) Once you make a sale, set up a plan: Having a plan is very very necessary. Once you are into it and doing it in the form of business instead of a 'hobby', work hard and smart. Set up a plan on the investment, cash flow and how big you wish to make a portfolio, the quality, sales prospect and everything else. Having it on paper makes it a lot more easier and clearer in your own mind.
6) Improvise: Everything will not go as planned. Learn to improvise along the way. As they say, "A great Entrepreneur is someone who jumps off a cliff and builds a plane along the way."
If you have any other suggestions or doubts or queries, you may put forth in comments.
This post is for everyone who is new to the domain business or for someone who thinks it's not working out for them in this business.
Remember, "No one said it would be easy. They just promised, it would be worth it"
I wish to point out a lot of things when you start a domain name business. Here is how you can reduce the learning curve and jump on the bandwagon early:
1) Belief: The very first thing when starting out is the 'belief' that this business is for real and to make a sale or two 'yourself'. When I started out, I had a doubt whether it was at all possible to make money online.
If it was, whether it was possible for me to make it? That was a doubt that I had until my first sale. Then I knew it was a combination of hard and smart work that will get it going.
2) Research: When appraising domain names in the appraisal section, I find a lot of newbies going for distant cctlds, .biz, .info etc. Which I personally think is the wrong way to start off. These don't sell easily and you end up losing hope and giving up on those dreams and this business altogether.
STICK WITH .COM when starting out.
3) Geo-domain names: When starting out, one of the things that has a high chance of working, is going for geo-domain names. Geo domains consists of a geography(City/Country name) + a niche(maybe a profession/product) etc. This is by far one of the easiest ones to flip than any other domain names(that's my opinion and it may differ from person to person). Example, TexasPhotobooth.com and similar names.
If it has worked for myself and some others, chances are, it might work for you too.
4) Reach out: When starting out and going for spamming a FB group/a whatsapp group or some other place with a sale post 'hoping' to make a sale, go for outbound. Ask for appraisals, take suggestions and then go for email outbound. Try different strategies, timing, email template. Experiment and improvise. Look for what is hot and selling.
Check out this section of post to see what's selling
Have a holistic and in-depth picture of what sells and what not. Once you are there, start buying and maintaining a cash flow, building a portfolio and putting up a game plan.
5) Once you make a sale, set up a plan: Having a plan is very very necessary. Once you are into it and doing it in the form of business instead of a 'hobby', work hard and smart. Set up a plan on the investment, cash flow and how big you wish to make a portfolio, the quality, sales prospect and everything else. Having it on paper makes it a lot more easier and clearer in your own mind.
6) Improvise: Everything will not go as planned. Learn to improvise along the way. As they say, "A great Entrepreneur is someone who jumps off a cliff and builds a plane along the way."
If you have any other suggestions or doubts or queries, you may put forth in comments.
This post is for everyone who is new to the domain business or for someone who thinks it's not working out for them in this business.
Remember, "No one said it would be easy. They just promised, it would be worth it"