Can you tell me what mistakes you made in domain investing

[andrewwilliams54323]

Can you tell me what mistakes you made in domain investing because mistakes teach us a lot?

Thanks

 

[D Haynes]

I think probably the biggest mistake I've made in the past and maybe still make today is buying names that I like but almost nobody else would want.

We have to remember that the whole point of what we're doing is to sell names to someone else for more than we bought them so when buying we need to think "would someone build a business on this name?", "yes it's a popular saying but is it too negative to do anything with?".

Another mistake which kinda ties in with the above is not knowing when to let go of a name. Been renewing it for 5-10 years with zero interest? Maybe don't keep renewing it?

 

[Acroplex]

I once listed a LLL .com on eBay without reserve.

 

[forge]

In retrospect, my biggest mistake was getting into domain investing.

 

[johnn]

I never made any mistakes. I checked with my wife before doing anything.

 

[LucidDomains]

I had offers on domains I should have accepted but passed on at the time.

 

[VivifyDomains]

Selling domains at wholesale for $75 that I wasn't planning to renew.

Roughly 15 domains in total so far, and almost half of them turned out to be to end users (sites developed now) who probably would have easily been able to pay at least $499 for these.

I've now raised my floor prices to $499 since even if I sold 2 instead of 15 I would have made roughly the same money, if I sold three I would be way ahead.

Painful

 

[BrandMaker]

My bog mistake is that i stick to squadhelp and it took very long time with no income .

 

[DanSanchez]

• Buying domains and forgetting about them for months.
• Not implementing a monthly (sometimes weekly) audit on pricing.
• Buying too many domains in a single day.
• Not renewing the domains for 2x - 3x years that are long-term keeps.
• Trying to build a massive sales site to save 20% commissions.
• Not liquidating before expiration.

 

[Sperry8]

Biggest mistakes were:
1- Buying anything other than .com.
2- Renewing domains too long after years of no interest.
3- Holding too large of a portfolio
4- Not being selective enough when registering domains or picking up drops.
5- Bidding too high when drops when into auction against others (thinking they knew something I didn't)

 

[Paperhand]

- not being way more restrictive with purchases: put 10 on the shortlist, get 2, max 3 after sleeping over it. Especially when riding a trend, or when trying getting ahead of it, which still is the same thing.

- not getting the right ones onto the shortlist, but I guess that won’t change. I recently checked up on my saved for later domains, and I stopped after the first 20, 30: too many serious projects have built on a couple of them. (I do mostly handregs)

- trying to beat the market with xyz regs. LOL it’s a small part of my portfolio, but still LOOOL

- taking dopamine hits from visitor's stats.

- not asking well enough for answers, and not moderating my threads well enough in this forum. Or not nearly as well as you on your first days. no irony here, I like your way. Domaining is mostly a single player’s game, you have to get an edge to be ahead of the pack. However, this forum has still quite a good balance imo ego vs. team spirit wise.

 

[pb]

The biggest mistakes that I still remember are not buying or renewing wrong domains, but passing on some cool domains that I literally had sitting in my cart. I'd take wasted money over wasted opportunities any time.

 

[GoKaizen]

1. Selling at the wrong time.
2. Not sticking to my price.
3. Buying at the wrong time.
4. Holding domains for too long.
5. Not accepting offers I should have.
6. Buying into trends.
7. Not keeping accurate records of domain financials.
8. Needed to learn to drop domains.

 

[topakins]

Joined NP in 2014. I was reading everything to learn but at one point, I got discouraged and left. I only came back fully last year and I've made 2 sales.

 

[nononsense123]

going too wide instead of deep.
If I had to do it again, my domain count would never approach 500. It would be 10 or 20- none of them handreg- all of them acquired.

 

[VadimK]

Thanks a lot for telling me about your mistakes and I learn from your mistakes

Not to worry about that part, you'll make plenty of your own, regardless.

 

[SixFigures.ltd]

Like Spider.xyz

At first I chuckled a bit, but than I think It might have sense and sounds nice as a name for web crawler for example or other IT stuff, I would hold it

 

[Jannes]

Buying and even renewing rubbish names and other usual mistakes are par for the course, but my greatest mistake has been selling too cheap and thinking that I could make it up in volume (profitwise). I was trying to be competitive (which is pointless when you're selling unique assets) and concentrated on not losing a sale because of a ”high” price, not realizing that I could also lose a sale by pricing too low. Price signals value and quality, especially to some people and to some extent (I’m not talking about moonshots here).

 

[BaileyUK]

At the beginning believing, My Country code .co.uk, and .Net and .Org, .info .biz made for good .com substitutes. I was picky and careful about the wording + extension pairings but the market just wasn't interested

 

[SixFigures.ltd]

I'm lazy to do more outbound, I do understand that end users don't even know about domain marketplaces and they don't have a clue how to use them, so I should kindly promote myself more often.

 

[BrandBoogie]

Buying premium Xyz domains at premium prices without realizing I'd have to pay those premium prices every renewal. I ended having to drop a lot of them. Lost a lot of money.

 

[Mkt Sales Leads]

I had registered a lot of cheap .xyz domains one time. They were single word keywords, but now it has no sense to me. Like Spider.xyz
Some such names are selling for 50k$ today, but again, to me they have no sense.

I suspect Spider.xyz would sell if in the hands of Swetha

 

[Bob Hawkes]

Thank you for sharing such a complete answer. Superb advice in this one post:

1. Selling at the wrong time.
2. Not sticking to my price.
3. Buying at the wrong time.
4. Holding domains for too long.
5. Not accepting offers I should have.
6. Buying into trends.
7. Not keeping accurate records of domain financials.
8. Needed to learn to drop domains.

Sometimes learning what to drop, and actually doing it, is the most important part of staying profitable, I think.

While some have made a lot on trends, I suspect that overall more people lose money than make money on every trend.

-Bob

 

[GoKaizen]

Yup, happens all the time.

While some have made a lot on trends, I suspect that overall more people lose money than make money on every trend.

 

[johnn]

I once listed a LLL .com on eBay without reserve.

You should ask your wife before listing.