NameSilo

$50 to $5k journey of 2 years

Labeled as report in General Domain Discussion started by rohitgoyal, Oct 3, 2018.

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  1. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Hi All,

    Today i have completed 2 years into domaining. I started of with domaining on 3rd October 2016. I was aware about domaining since 2012 but finally ventured into the same in 2016.

    Investment was never an issue but i have done multiple online ventures in the past and suffered heavy losses in the same. So i have decided in very beginning that domaining would start with 0 investment for me and would continue only if i make income out of it.

    Luckily during that time bigrock.com was running a promo offer of $.2(Rs. 12) for .net domains . I invested $50 and purchased 200 .net domains during the promo offer. Instantly made 10x within a month and made a net profit of $450. In reality i got into domaining seeing the sales figure of old timer domainers and felt i too would make millions in very short span of time and soon realized what a fool i was

    Soon i realized that domaining is not a get rich scheme and majority of guys are struggling to even cover their renewal expenses , leave aside earning millions.Being from India I purchased lots of .in domains from namepros as well as hand registered but at the end of the year i dropped most of them and realized that .com is the safest and best investment. Somewhere around end of December 2016 I came to know about namepros.com and joined the same. Namepros is goldmine of information but it is difficult for newbies to learn and take guidance as too much of information and variety of thought process are there in namepros.

    Around march 2017 i started reading daily recommendation of @Avdomains and that was a game changer for me. I picked up around 100 .com domains as per suggestion of @Avdomains during promo offer of Nettigritty.com for $3. There was no sales between April 2017 till October 2017 and i decided to give up domaining. In meanwhile i learned about the concept of outbound and developed interest in the same. I personally tried outbound for 3 months but didn't achieve much success as too much of manual work was involved and it was much more difficult than it was projected to me. In the initial phrase there was no one to teach me or guide me regarding outbound so naturally it was hell of a journey.

    I decided to give a final shot and finalized to hire a team for outbound. I earlier had a back office operation so i had office and computer set-up available. Finally hired 3 team members and started off with outbound. There was no response for first 30 domains and received price inquiry on 31st domain but the deal didn't close. 20 days passed and there were no sales. Finally on 21st day i received price inquiry for my 51st domain. Domain name was isbnbarcode.com. I was happy to sell it even for $99 as just wanted to experience my first sale but randomly priced it for $499. Luckily client agreed and deal closed on the same day which was sort of unbelievable for me as i acquired the same for only $3. After that i didn't had any sale for next 10 day.

    Finally had few sales in first week of December and i was relieved from the tension of paying salaries to my team members. In December i opened account at namejet.com even though i applied in July itself. In December i had few sales in Namejet.com and i was relieved. I made a blunder and listed few domains of my friend in my namejet.com account which was a big mistake. 10 domains totaling $4k sold via namejet in January , out of which $3k was for my friend's domains. After the closure of auction namejet team contacted me and asked me to transfer domain to enom which i happily obliged and transferred all my domains to enom. However my friend had some other motive and he didn't transfer his domains and blocked me from all sort of communications. As a result namejet suspended my seller account and it was big set back for me. Though after 3 months they again activated my account and took commitment from me that i would post only those domains which are there in my account. In April i again made $1000 sales at namejet which i hand registered in June 2017

    Anyways i continued with outbound and used to have few sales but not much. I had a team of 5 and for 6 months i somehow managed to cover my expenses only . Outbound was much different and difficult than i initially imagined and was making lots of mistakes. Slowly and gradually started learning tricks of the game and did some automation in the outbound process. I was interested in hand registered names as it assured good return and had almost negligible chance of loss at-least via outbound. Though hand registering for $8 was not a viable option and needed to find out a much cheaper and better solution.

    May was the turning point when i cracked the code and started getting .com domains for $3-4. Since may the process has completely evolved and i started having sales every alternative day. From June onwards i started having $5k revenue via outbound on monthly basis which can easily be increased to $10-20k per month with a bit of innovation and planning.

    So domaining journey which started in October 2016 with $50 is presently providing me excess of $5k monthly revenue and have a portfolio of over 1500 domains.

    Couple of pointers which i wish to highlight which i learned during these last 2 years:-

    1. Its better to have $100 in pocket right now rather than visualizing to have $1000 somewhere in the unforeseen future.

    2. The only rule in domaining is that there are no thumb rule. Different strategy and different niche work for different people.

    3. Do not blindly run after screenshot or reported sales as a lot goes behind the picture.

    4. Yes one can make good money in domaining however one can loose money easily as well.

    5. Have a mentor in domaining , it helps a lot. However there are no free lunch in the world , if someone teaches and guides you than you have to give something in return either in terms of money or friendship or some other way.

    6. Domaining is just like any other business and requires same amount of hard work , luck , talent and investment. It is not a get rich scheme.

    7. Unfortunately luck is a very important factor in domaining as you never know when or how sale would happen. You may have sale for the domain you least expected and may not ever sale a domain which you were sure of selling.

    8. Domaining is not suggested as a full time profession. It should never be your only source of income at-least in the initial stage.

    9. Yes we do need huge investment to survive in domaining in today's time however with hard work and dedication , one can achieve success with minimal investment as well.

    10. Domaining courses and events are good for nothing , they just show you rosy picture. Though networking and building connection with right set of people is very important to survive and succeed in domaining.
     
    Last edited: Oct 3, 2018
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Rinkuji

    Rinkuji Active Member VIP

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    Congrats for completing 2 years and making good profit. I wish you best luck for more success in future. (y)

    Very True!
     
  3. Sumeeth

    Sumeeth DomExpert VIP

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  4. Haroon Basha

    Haroon Basha IZUQ.COM Gold Account VIP

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    @rohitgoyal, thanks for sharing your fantastic experience in Domain business. Congratulations.
     
  5. elevator

    elevator DnCombo.com VIP

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    Yeeh! That is domaining for you. Learning matters in every business one wishes to emback upon. Facinating story. Congrats for the sucesses
     
  6. Haykay2005

    Haykay2005 Active Member VIP

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  7. mike2100

    mike2100 Established Member

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    this is really motivating

    Thanks a lot for sharing and being open
     
  8. J Sokol

    J Sokol Established Member

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    Thank you for that detailed account of your domaining history @rohitgoyal. It contains lots of useful lessons for those of us who are new to this. I admire your persistence - it goes to show that it is possible to "crack the code" of domaining. Congratulations on your success.
     
  9. BUL

    BUL Established Member

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    Congrats for the successes, Best of luck
     
  10. saj110

    saj110 Established Member

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    Congrats @rohitgoyal on your Rollercoaster ride 😉, I thoroughly enjoyed reading every bit of your post 👍 and the added bonus was the lessons and motivation that came with it. Keep up the good work and thanks for sharing your amazing journey.
     
  11. rathish

    rathish Established Member

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    Hi @rohitgoyal , very inspiring post...

    Would you mind sharing how many outbound mails you will send for each domain name ?
    Which software you use ?
    and how will you get the mail id of the users for the outbound process ?
     
  12. FolioTeam

    FolioTeam Established Member

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    Congrats and more grease to your elbow.
     
  13. korganian

    korganian Active Member VIP

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    "May was the turning point when i cracked the code and started getting .com domains for $3-4."

    Would you kindly share how you do that?
     
  14. Primary Names

    Primary Names ****** xXx ****** VIP

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    @rohitgoyal You forgot this pointer.

    11. Never involve a friend in business. :xf.wink:

    I have been watching your progress since last year. I remember you kept pushing the outbound when everyone else was doubtful. You deserve the success.
    Congrats.
     
    Last edited: Oct 4, 2018
  15. Domains - Wanted

    Domains - Wanted Active Member VIP

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  16. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks ... Just shared my personal.experiences so far
     
  17. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks @Sumeeth
     
  18. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks
     
  19. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks completely agreed... learning matters a lot and most important is to take necessary steps based on learning
     
  20. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    ThAnks
     
  21. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Yes it happens with every venture. One has to be clear about the target and take necessary actions. Though my journey is not a great or very profitable one but personally I enjoyed it
     
  22. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks...
     
  23. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Thanks
     
  24. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    Well keep looking for promo offers and all the possible hacks you can do...
     
  25. rohitgoyal

    rohitgoyal Upgraded Member Gold Account VIP

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    I disagree with that.... it depends upon the friend and the kind of understanding you have with him/her... having a friend as partner do help make the journey comfortable and memorable
     

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