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...]

 

[Kate]

Yes, but at least employees get their check at the end of the month regardless of actual performance

 

[Silentptnr]

I personally have witnessed the concept of buying and selling domain names for profit take shape over the years and it continues to develop and evolve. "Domaining" as a speculative investment has been and is, just that, speculative investing. The amount of money that a buyer is willing to pay for a domain name is dependent on a wide range of factors that also continue to evolve.

As with any investment, there is risk, there will be losses, there will be great gains for some. I am continually surprised by domains that sell and the prices they sell for. I have yet to find a pattern though, that I could see having much, if any, bearing three, four or more years from now.

Rick definitely has experience with domain transactions far beyond probably 99% of people that invest money in domains. I would not have expected Rick to say anything other than what he said. Honestly, I think I know what Rick would say, what Shane would say, what Andrew would say, what Michael Cyger would ask , and so on.

Bottom line is if this was a competition, right now Rick would probably win. As for the future, who knows. But it's not a competition, it's investing. I listen, analyze, and make my decisions. I always appreciate the sharing of insights. At the end of the day, each investor makes their own decision. This is just stuff that makes investing interesting.

 

[Kuffy]

Were I to start again, I wouldn't start from here - I'd go back a few years.

 

[karmaco]

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

 

[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

 

[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

 

[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!!!

 

[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.

 

[biggie]

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.)

i'm in line with this philosophy

i'd rather just let the names drop, so any interested parties can bid for them thru backorder.

imo....

 

[outsof]

don't let success go to your head ..

 

[Nice Guy]

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

Didn't Bill Gates talk Warren Buffet and other billionaires to give all their money away now? Thought I heard something about that a while ago....

 

[Nice Guy]

http://www.domainking.com/

Wow...not for nothing, and being new and all at this, but looking on his list of recent acquisitions, I suddenly found hope in my list of 600 unregistered domain names and certain that I have some gems now. If the "King" is purchasing "NoOneCares.com" then I know my list is pretty darn good!

Glad I read this...many of the names I come up with are not that far off from what he is actively purchasing. It also further confuses me about all this talk about "if nobody registered it by now, you have to ask yourself why..." kind of stuff. I have at least ten (and probably many more) names that blows NoOneCares.com away.

Thanks for the reading

 

[fatter]

why drop them,so I can reg them in the future again, Ive actually done that with qiuete a few names,
Joe T

 

[Lox]

If the "King" is purchasing "NoOneCares.com" then I know my list is pretty darn good!

NoOneCare .com is paying zilch-attention to its slogan "No One Cares, but we do".

Good guerilla marketing example.

 

[Jurgen Wolf]

It is a very unprofessional comment, why should a domain investor who has spent a lot of time and money selecting and managing the domains, drop all the domains

I think, it is a message for holders of 2/3-word domains...

 

[platey]

Didn't Bill Gates talk Warren Buffet and other billionaires to give all their money away now? Thought I heard something about that a while ago....

Yes which would make investing pointless if giving nearly all of it away but then again if it wasn't nearly all being given away etc how much of it could they keep if they wanted to keep all of it? Barely 50% I'd have thought but I reckon it could achieve much more at the b+m g foundation

 

[lock]

Could say that about any career choice there are lots of people that are crap at their job.

 

[cipcip]

Who is Rick Schwartz and why should I listen to him?
If a guy was lucky enough to buy a domain in 1990's and now be rich because no one else registered it then, doesn't make that guy a good domainer.
I don't know if this is the case, buy buh-bye you are nothing to me, maybe me to you as well, but I don't care

 

[BrandSac]

from my point of view and with my all respect to rick schwartz, this is the worst advice can someone give to domain business, simply if you drop 90% of names the market will drop 90% in short time because lot of similar domains will be available to hand reg.

 

[projack]

I only been domaining for a few years but I find my self to be in a recycling process all the time weeding out what to keep drop or liquidate. its always a good idea to go evaluate your portfolio every few months. Skills get better with time. I don't know about people 90% of domainers starting over but if your not making money it maybe time for a evaluation on your portfolio.

Definitely true. Every month I review/renew my domains about to expire in the coming month and decide whether to renew or drop. I set a goal for this year to drop at least 10% every month. I am easily exceeding my goal