advice Being a domainer is a constant hustle; we grind day in and day out.

[S-B]

I would argue that buying and selling domains is the best way to make money online that doesn’t require a large financial risk upfront. Yes, I’m saying it’s relatively low risk for the educated. We can invest a modest $100 and turn it into $1,000 without much effort. It’s absolute madness when you compare it to the 6% return the U.S. stock market posted in 2015.

With that being said, it’s a constant grind. Those who think they’ve mastered the trade will quickly get left behind. We are forced to learn every-single-day. There’s also a steep learning curve. Those to jump in without floaties will quickly sink.

2015, was my first year doing this full-time. It was scary, fun, and scary. I also had ups, downs, and in-betweens. For those of you who want to make a living buying and selling domains, I have one piece of advice: learn to budget.

I heavily reinvested during 2015, which was fine and dandy until I stopped auctioning and started selling to endusers. That change had many implications that I did not realize at the time. My new strategy required patience. Unfortunately, I did not budget appropriately so I was forced to liquidate over the summer, which evidently is the worst time to be a domainer.

Always remember, money comes and money goes in this industry, often unexpectedly. Be prepared.

 

[Michael R.]

Thanks for the advice and the interesting point of view Shane. I agree with these words, even if I'm (very very) far from being a full-time domainer.

 

[imadoer]

i completely agree with you. i am on a constant hustle from morning to night buying selling flipping mining im happy to say my current strategy is working well. But I am prepared for a bumpy road. As you said things change daily so we have to focus and try to be a few steps ahead and be prepared for anything

 

[joro001]

Great post and refreshing honest as well.

We all need to learn from this, this is not easy if you want this to be a full time business.
Many if not most people in business have cash flow issues of one form or another at some stage no matter how successful they are.

It's a learning curve for us all.
Have a great 2016.

 

[daj]

Domaining isn't easy if you don't have the starting capital to truly buy good assets and invest in domains that sell like hotcakes. I've never been able to make it a full-time endeavor and I imagine most are in the same boat.

I would focus more on buying a good domain to build a business on that you're passionate about. Go on google and type: "income reports" and look at the various blogs/sites who're transparent about how much they make and publish monthly income reports. Let it inspire you to do the same.

 

[Mahogany]

Same advice for playing poker full time... You can't use your entire bankroll in one month. There are ups and downs.... Budget is key...

 

[Wannabean]

Have you got any particular stories you'd like to share Shane? Maybe one up and one down?

 

[saoirsetech]

I would argue that buying and selling domains is the best way to make money online that doesn’t require a large financial risk upfront. Yes, I’m saying it’s relatively low risk for the educated. We can invest a modest $100 and turn it into $1,000 without much effort. It’s absolute madness when you compare it to the 6% return the U.S. stock market posted in 2015.

With that being said, it’s a constant grind. Those who think they’ve mastered the trade will quickly get left behind. We are forced to learn every-single-day. There’s also a steep learning curve. Those to jump in without floaties will quickly sink.

2015, was my first year doing this full-time. It was scary, fun, and scary. I also had ups, downs, and in-betweens. For those of you who want to make a living buying and selling domains, I have one piece of advice: learn to budget.

I heavily reinvested during 2015, which was fine and dandy until I stopped auctioning and started selling to endusers. That change had many implications that I did not realize at the time. My new strategy required patience. Unfortunately, I did not budget appropriately so I was forced to liquidate over the summer, which evidently is the worst time to be a domainer.

Always remember, money comes and money goes in this industry, often unexpectedly. Be prepared.

Amen Brother :P

 

[DomainVP]

True story Shane. Money comes and money goes in the life of every entrepreneur, until they hit that one success that puts them well over the top.

Keep grinding!

 

[redesignunit]

great article always thanks.

 

[greggb]

I would argue that buying and selling domains is the best way to make money online that doesn’t require a large financial risk upfront. Yes, I’m saying it’s relatively low risk for the educated. We can invest a modest $100 and turn it into $1,000 without much effort. It’s absolute madness when you compare it to the 6% return the U.S. stock market posted in 2015.

With that being said, it’s a constant grind. Those who think they’ve mastered the trade will quickly get left behind. We are forced to learn every-single-day. There’s also a steep learning curve. Those to jump in without floaties will quickly sink.

2015, was my first year doing this full-time. It was scary, fun, and scary. I also had ups, downs, and in-betweens. For those of you who want to make a living buying and selling domains, I have one piece of advice: learn to budget.

I heavily reinvested during 2015, which was fine and dandy until I stopped auctioning and started selling to endusers. That change had many implications that I did not realize at the time. My new strategy required patience. Unfortunately, I did not budget appropriately so I was forced to liquidate over the summer, which evidently is the worst time to be a domainer.

Always remember, money comes and money goes in this industry, often unexpectedly. Be prepared.

That was so incredibly inspiring, Shane Belowknee, that I'm about ready to puke up the cold garlic bread I just ate.

 

[S-B]

Have you got any particular stories you'd like to share Shane? Maybe one up and one down?

Well, I'd consider getting my own office as an up.

As for a down, I had 1 sale over the summer (3 months).

Sorry for being so brief. I'm prepping the office for a paint and am typing on my cell. Internet isn't up yet.

 

[Wannabean]

Well, I'd consider getting my own office as an up.

As for a down, I had 1 sale over the summer (3 months).

Sorry for being so brief. I'm prepping the office for a paint and am typing on my cell. Internet isn't up yet.

Looks pretty sizable congratulations!

 

[S-B]

Looks pretty sizable congratulations!

It's 850 SQFT with a private bathroom.

Thanks!

 

[Asfas1000]

Nice post Shane.

Even when we buy something of value, there is a drawback : our funds are now gone, and we may be deprived from a better yet opportunity.

I stopped auctioning and started selling to endusers. That change had many implications that I did not realize at the time.

Could you elaborate on this ?

 

[wurdd]

Office!!! You've now lost your grinder status.

 

[Wannabean]

It's 850 SQFT with a private bathroom.

Thanks!

A bathroom? I dunno if it's a good or bad thing but I guess you can sleep at work now!

 

[rockefeller]

I've been doing this full time since 2007, yes, its a daily grind but I couldn't imagine doing anything else.

 

[LaunchUp.com]

Well, I'd consider getting my own office as an up.

As for a down, I had 1 sale over the summer (3 months).

Sorry for being so brief. I'm prepping the office for a paint and am typing on my cell. Internet isn't up yet.

This is inspiring/motivation.. Thanks for sharing.

 

[rockefeller]

It's 850 SQFT with a private bathroom.

Thanks!

I also had my own office from 2008 until late last year when I moved to another state. Doing this full time is possible, I do it every day, I also mainly sell to end users but have domainer contacts I sell to from time to time. Set monthly goals and do everything you can to reach them, that's my best advice.