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I just wanted to take a moment to guide new investors based on the patterns that I see in the domains sent for appraisals. While new domain investors bring a new perspective to the business, to the market, to the industry, sometimes, they also make the mistake of investing in the 'not so good places' which is why I wish to write this. I hope you find this useful:
1) Do not buy any names in your first 15 days - Read, read and read
2) Figure out a game plan - Short term, medium term, long term
3) Put some easy metrics - For example, sell 1 domain in the next 45 days, own 25 domain names in this extension, and experimented with 3 categories by this date
4) Capital requirement - Figure out what capital you are willing to invest, and what can be done with that money. For example, someone starting off with $200 may go one way than someone else starting with $2,000
5) Liquid vs less liquid vs illiquid domain names - Some names are more liquid than others (L, LL, LLL, LLLL, and so on) are more liquid than say, 2 word .COM names and so on. See what comes in your budget, how can you sell that, how do you build-up and so on.
6) When starting off, stick with some extensions which are more liquid - .COM, .ORG, .CO, .IO may be more liquid than .one, .tech and so on
While fresh investors come with their own perspective and can do really well in an area which no one else may have figured out, the important part is to get the first few moves right. I am here to help you get that right (or rather avoid the pitfalls). For example, I see a lot of investors going for extensions that have 2-3 sales a year. That reduces your chances of success in that extension. Use Namebio to check these.
I am not going to spoon-feed coz I don't know a lot of things myself, plus I would be limiting you in terms of what you can do if I guided you more.
Wish you all the very best in your journey. Do comment here and I/other amazing members will be there to help.
1) Do not buy any names in your first 15 days - Read, read and read
2) Figure out a game plan - Short term, medium term, long term
3) Put some easy metrics - For example, sell 1 domain in the next 45 days, own 25 domain names in this extension, and experimented with 3 categories by this date
4) Capital requirement - Figure out what capital you are willing to invest, and what can be done with that money. For example, someone starting off with $200 may go one way than someone else starting with $2,000
5) Liquid vs less liquid vs illiquid domain names - Some names are more liquid than others (L, LL, LLL, LLLL, and so on) are more liquid than say, 2 word .COM names and so on. See what comes in your budget, how can you sell that, how do you build-up and so on.
6) When starting off, stick with some extensions which are more liquid - .COM, .ORG, .CO, .IO may be more liquid than .one, .tech and so on
While fresh investors come with their own perspective and can do really well in an area which no one else may have figured out, the important part is to get the first few moves right. I am here to help you get that right (or rather avoid the pitfalls). For example, I see a lot of investors going for extensions that have 2-3 sales a year. That reduces your chances of success in that extension. Use Namebio to check these.
I am not going to spoon-feed coz I don't know a lot of things myself, plus I would be limiting you in terms of what you can do if I guided you more.
Wish you all the very best in your journey. Do comment here and I/other amazing members will be there to help.
