NameSilo

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

Labeled as advice in General Domain Discussion, started by S-B, Jan 31, 2016

Replies:
29
Views:
2,685

  1. S-B

    S-B Account Closed

    Posts:
    3,502
    Likes Received:
    5,694
    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.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Michael R.

    Michael R. Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,130
    Likes Received:
    867
    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.
     
  3. imadoer

    imadoer Top Member PRO VIP

    Posts:
    5,119
    Likes Received:
    5,177
    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
     
  4. joro001

    joro001 Top Contributor VIP

    Posts:
    1,753
    Likes Received:
    1,859
    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.
     
  5. daj

    daj Top Contributor VIP ★★★★★★★★★★

    Posts:
    1,434
    Likes Received:
    419
    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.
     
  6. Mahogany

    Mahogany Top Contributor VIP ★★★★★★★★★★

    Posts:
    2,650
    Likes Received:
    1,089
    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...
     
  7. Wannabean

    Wannabean Top Contributor VIP

    Posts:
    1,489
    Likes Received:
    877
    Have you got any particular stories you'd like to share Shane? Maybe one up and one down?
     
  8. saoirsetech

    saoirsetech Established Member

    Posts:
    370
    Likes Received:
    29
    Amen Brother :P
     
  9. DomainVP

    DomainVP DomainVP.com VIP

    Posts:
    3,577
    Likes Received:
    12,836
    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!
     
  10. redesignunit

    redesignunit Established Member ★★★★★★★★★★

    Posts:
    410
    Likes Received:
    548
    great article always thanks.
     
  11. greggb

    greggb Established Member

    Posts:
    446
    Likes Received:
    445
    That was so incredibly inspiring, Shane Belowknee, that I'm about ready to puke up the cold garlic bread I just ate.
     
  12. S-B

    S-B Account Closed

    Posts:
    3,502
    Likes Received:
    5,694
    [​IMG]

    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.
     
  13. Wannabean

    Wannabean Top Contributor VIP

    Posts:
    1,489
    Likes Received:
    877
    Looks pretty sizable congratulations!
     
  14. S-B

    S-B Account Closed

    Posts:
    3,502
    Likes Received:
    5,694
    It's 850 SQFT with a private bathroom.

    Thanks!
     
  15. Asfas1000

    Asfas1000 Top Contributor VIP

    Posts:
    2,478
    Likes Received:
    2,687
    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.


    Could you elaborate on this ?
     
  16. wurdd

    wurdd Restricted (15-30%)

    Posts:
    883
    Likes Received:
    728
    Office!!! You've now lost your grinder status.;)
     
  17. Wannabean

    Wannabean Top Contributor VIP

    Posts:
    1,489
    Likes Received:
    877
    A bathroom? I dunno if it's a good or bad thing but I guess you can sleep at work now!
     
  18. rockefeller

    rockefeller Established Member ★★★★★★★★★★

    Posts:
    568
    Likes Received:
    530
    I've been doing this full time since 2007, yes, its a daily grind but I couldn't imagine doing anything else.
     
  19. Rory Ivey

    Rory Ivey Top Contributor VIP

    Posts:
    3,345
    Likes Received:
    4,633
    This is inspiring/motivation.. Thanks for sharing.
     
  20. rockefeller

    rockefeller Established Member ★★★★★★★★★★

    Posts:
    568
    Likes Received:
    530
    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.
     
  21. brandnow

    brandnow Selling hotcakes VIP

    Posts:
    1,867
    Likes Received:
    1,280
    I read this thread and I can thoroughly recommend this read to the next user.
     
  22. Skyvisum

    Skyvisum Top Contributor VIP

    Posts:
    1,412
    Likes Received:
    2,874
    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 -----Shane Bellone

    This is why I love domaining Shane.I am not doing it full time as I learn every day.Thanks for the write-up and hoping to read more about your hustle and those of others and then mine;).
     
  23. Skyvisum

    Skyvisum Top Contributor VIP

    Posts:
    1,412
    Likes Received:
    2,874
    One step at a time.Good job Man.
     
  24. Nattydomain

    Nattydomain Reuse Domains VIP ★★★★★★★★★★

    Posts:
    3,419
    Likes Received:
    956
    I agree with you 100% BUT I really dont see the need for an outside office. Unless you are getting into web design or SEO where you want to talk with clients then all can be done from home. I assume maybe then you are trying to get out of the house but with domaining it is all computer work with 2-3 monitors and really no face to face contact unless at a conference or something.
     
  25. S-B

    S-B Account Closed

    Posts:
    3,502
    Likes Received:
    5,694
    We all start somewhere. Just keep moving and you'll ge there. :)

    I'm not sure it's possible to be prepared. I just try to adjust as quickly as humanly possible.

    Cash flow is key. I am looking to diversify this year.

    I hope you also have a geat 2016!

    I started with $500-$1,000. It's possible but it takes patience.

    Hah. I do not envy poker players. :P

    ;)

    Well said. Here's to hoping we all find that homerun this year!

    I appreciate it.

    Well, I've always kept a smart portfolio, usually 100-200 names. Passive sales at that size just don't happen often. Go figure. ;)

    So I had to figure out a strategy to grow. I obviously am not willing to share what I found out but I can say it will take at least a year to achieve.

    Ouch. Harsh. ;(

    With as much as I've been working, a bathroom is mandatory.

    Neither could I.

    Thanks for the tip. :)

    Thanks. I really appreciate it. :)

    An office isn't 100% really required to domain but I'm starting a new company this year.

    Fish Stick

    ;)
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
biix
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...