advice 90% of domainers should start over

[equity78]

Rick Schwartz made a pretty interesting tweet yesterday that I think will bring about a great deal of conversation. Rick stated that 90% of all domain investors should look to reboot. Drop everything and start over again. 90% of every domainer should drop ALL their #Domains and start again! They are so far off the path that it is sad to see. #gtld #Startups — @Rick Schwartz … [Read more...]

 

[Want2learn]

It is difficult to argue with the sentiment that @Rick Schwartz shared. I think when folks come out just to troll gets old quickly. I know we all have our boiling point, maybe Rick had enough of the trolls. Here is the other thing that I think many people miss . . .when you are in the public eye, everything you say or do comes under scrutiny. Imagine we all posted something like this, I think that 90% of domainers or beginning domainers need a reset. 90% of their portfolios are probably not worth their reg fees. Now it is out there for the public to consume and criticize. Is it 90% that need a reset? I seriously doubt that he literally means 90% need a reset. It may be higher or lower But the principle regardless is there are some terrible portfolios. I know. I have over 100 domains I will not renew. And I just started December 2016. Yikes! So now I am working like a mad man to find homes and minimize losses!!

The only thing I would say is ignoring trolls and taking the high road comes across much better. I know we all have our places of no return Say what you want about Rick, he has sustained success and he is one of the players that can move the needle! Nitpicking over tiny details in a tweet or post is a recipe for ungraciousness. If we had every move scrutinized, we might also have moments of frustration!

 

[bruhne]

I agree with Rick to an extent. It’s easy to pick up garbage and think it will sell as gold. I have a lot of garbage names myself, and I can’t wait for them to drop. I really just want to delete them now, but that doesn’t make much sense when dealing with a numbers game. However, a reboot or mass shedding (deleting) would be very beneficial and refreshing to my psychology. Truth is, I’m somewhat of a minimalist, with the exception of cash and equivalents. I don’t like to own a lot, but what I do own is quality. That’s my style of living, and that’s what I’m working to make my portfolio reflect… I’m now working to only pick up names that I really really like and find attractive. If it’s good, but unappealing to me, it now has no place in my portfolio. I’m a collector, and I want to enjoy my gems unemcumbered by dirt. It’s gotta be beautiful.

Furthermore, if people will shed their shit, the marketplace will be much more appealing. I’m tired of seeing platforms saturated with bs names at premium prices… If people would adhere to what Rick is implying (quality over quantity), which makes a portfolio a hypnotic attraction, then the marketplace would reflect such intention…

If it doesn’t turn you on, don’t touch it.

 

[karmaco]

He would likely grab our good names if we all started over. Not buying that theory.

 

[hawkeye]

I will also add that selling a domain name for $1 is better than just dropping it. Even giving it away is better. Drops are fine, but if you can make $1 it's better.

Personally I disagree with this. I put too much time and effort in researching the validity of regging a domain, that if it can't sell it for at least $20-$30 here on NP or somewhere, then I'll just drop it. If someone thinks it's worth them having it, they can pay the $60-70 drop fees to grab it then. (Just my views on this, others may digress.)

 

[4pm]

the more crap is regged the higher prices quality names can command
my every crap name lets your jewels shine brighter... so do yours... symbiosis

...and if you drop 90% your turnover rate would be 10% rather than 1%.
is not that a good thing indeed?

 

[platey]

Yeah, if you don't you may not move forward. I did this twice.

Now I only buy domains that pass my stress tests.

For the new entrants:

• Don't overpay for a domain, there will be a cheaper one tommorow. Cash flow is everything in this business.
• Domaining is very similar to two industries: the stock market and the real estate market. You want to study 'academically' concepts, principles and frameworks in these markets.

Somebooks and scholarly papers you should read:

1. The intelligent investor - Chapter 1, and the commentary. (basic principles) - Here you learn the difference between and investor vs speculator.
2. Markets in profile - James Dalton
3. Research papers on domains by Thies Lidenthal of Sedo
4. Psychology of the stockmarket - Selden

You need to develop a habit for research and reading. It has helped me the most and it is the best advise I can offer.

Isn't the intelligent investor one of Warren buffetts favourite books? He being one of the world's best investors

 

[platey]

Much of what Rick says is spot on but he is an investor in premium dot Coms and can afford to be choosy and be able to buy the best domains in the industry etc

But domain name investing strategies vary from one investor to another etc and each investor will over time find and develop a domain name investing strategy that works for them

Each to their own

The best domain investing strategy is the only e that generated your last sale

 

[Casey L]

I did something similar a couple months into my domaining journey - I stopped wasting money on new extensions, dropped everything, and started over with realistic expectations. Best decision I've ever made as it has paid off handsomely over the last two years.

If you looked at all of the domains for sale on namepros then 90% might actually seem generous

 

[Robert G]

Don't overpay for a domain, there will be a cheaper one tommorow. = BAD ADVICE

tell that to the guy/girl buying nnnn.coms and nnnnn.coms a few years ago.

 

[Premiums]

He's got a blue check mark

 

[JayT]

I think it's at LEAST 90% domainers need to drop their domains. Most them shouldn't even keep trying :P He does act like a 15 year old on an internet chat room 15 years ago though.

 

[Premiums]

Hello @Rick Schwartz

, not using your own domain name for blogging is like building content and links for someone else...

twitter

 

[Abdel]

Ok Rick!!! I will start with dropping all my of 4L.Com's.

 

[creataweb]

Ok Rick!!! I will start with dropping all my of 4L.Com's.

I'll save you the trouble, just transfer to me I'll take your burden.

 

[korganian]

I would guess it's more like:

90% of domainers would be better off dropping at least 20% of their domains

50% of domainers would be better off dropping at least 50% of their domains

30% of domainers would be better off dropping at least 70% of their domains

 

[Mister Funsky]

he wants us to drop names so he can cherry pick them.

BINGO!!!

 

[guilty]

More like 90% of the reg fee domains should be dropped. All you can do is visit the thread " Your reg. of the day" and you'll see some great examples.

Unfortunately, some people who are new to domaining see the big domainers' large domain portfolios and think that to succeed in domaining, you have to have a large portfolio. They think if they reg many domains and have a large portfolio, there is a higher chance that an end-user will contact them about a domain at least once a month. If the ones who reg domains like there is no tomorrow pause for a second and calculate how much money they're spending on worthless domains, they'll find out that instead of making money, they're losing money.

 

[wot]

I guess being in the right place at the right time helps.

Perhaps Rick could drop his and try again and see how he gets on perhaps?

 

[lock]

Well if you only ever going to sell 10% of your inventory then it is technically right.
You get a statistic and use it that is the job of the salesperson.
He doesn't clarify that the remaining 10% will sell all their entire portfolio.
The idea is to be able to sell 10% of what you have Rick stays on top of the game by spruiking it in a more controversial way.

 

[frank-germany]

yesterday I recieved the first inquiry on a .de I registered more then 10 years ago