L.A. Randle
Imminentstartups.comEstablished Member
- Impact
- 99
You've decided that you want to step into the world of domaining. And hopefully, you are in it for the long haul. Hopefully, you've bogged yourself down with tons of information and dedicated your free time to learning as much as you can learn about this Industry.
There are some people who will tell you it's the easiest money you will make online, while others will tell you that it takes hard work.
Anything worth having is worth working for. And you will be putting in some work. So before you go running to purchase your first domain name, understand that it's not going to sell itself. It's very rare a domain name sells for thousands within a few days or months or even years of investment.
Doesn't mean that it doesn't happen, it just means it's rare. There are people out making a serious living selling domain names, I'm one of them. But I also developed my own system that I have yet to find another domainer use; which keeps me ahead of the game.
Work smarter NOT HARDER!
With that being said, you need to find a lane and ride that b*tch until the wheels fall off. Take advice from people who are moving the industry to new heights, and be ready to invest in your own knowledge pertaining to the game. There are so many people throwing free advice, and most of it isn't even worth listening to.
Transparency only goes so far. Investors never tell their secrets, and if they do it definitely isn't free.
With that being said let us take a look at 6 things you should keep in mind as a new domain investor.
1.Have discernment
Domain investing can deliver high rewards if you are patient and willing to learn about what people really need. Find the problem, and deliver the solution. Having discernment will keep you from making whack-ass investment choices, and it will also keep you from buying boatloads of domains that suck. Cybersquatting is a terrible method of domain investing, especially if 70% of your portfolio sucks. You're just wasting money. You're throwing away money. Have discernment.
2.Take Baby Steps
Take your time, and step outside of yourself and find out what people are looking for. The web is content-based, and searches, as well as social media, will tell you what people are looking for. Just because you think it's good and will garner interest from a potential investor, doesn't mean that it will.
We have to push our own arrogance to the side. And I've talked to many arrogant investors who haven't sold one domain in the last 2 months. But yet they want to act like they know where the end of the rainbow lies.
Humility will allow you to learn from people who are actually seeing results from their efforts. Focus on selling one domain, not a thousand.
Create a marketing plan for your domain name. Don't just depend on aftermarkets. You are going to have to get in the trenches and grind.
I've helped people sell their domain names faster by helping them understand that it's about being smart, it's about developing a plan and then executing. It's about knowing where to go and how to present your domain name.
Take baby steps.
3)Read
I spent thousands of hours reading, reading, and reading. Late nights were spent reading, mornings were spent reading. Spare time was spent reading.
Reading is going to help you understand the industry you're in. Do your homework. Find loopholes. Figure out what's working and what's not.
4)Value sells Domains name
People have hired me to comb through their portfolios to see which ones were valuable. And most people's portfolios are garbage. People get domain happy. And they go out and invest in these domain names without any analytical research, without any brand or marketing research. That isn't how this is done.
And many successful domainers won't even tell the newbies this.
But domaining has also changed. You can't just go out and buy a domain name and think you are going to sell it within a matter of weeks.
No, no, no. Unless that domain is a hell of a domain name, it's not going to happen.
You're going to have to find value or create value around your domain name. PERIOD. This became a system I personally developed for my portfolio. It helped me sell my domain names FASTER and for a higher price.
Find value, or create value. If you can show the value of your domain name to a potential buyer, your domains will sell like hotcakes.
5) Figure out your market
A lot of people who invest in domains tend to look for other investors to sell to. And depending on your goal, this could be a terrible mistake. Selling to other investors will undercut the value of your domain name. Investors are looking to get the best deal possible. So unless you're strapped for cash, I wouldn't advise it unless they are willing to pay what you believe the domain is worth. That rarely happens.
Find out who your target buyer is and aim to get your domain in the face of those potential buyers. If they need it they will buy it.
6) Stop Half ass investing
Most people want to make a quick buck, so they go in and buy any old domain name thinking they are going to sell it quickly. Selling it quickly depends on a lot of different factors.
If you aren't willing to sit down and spend a serious amount of time investing and researching the data for a potential domain name, this game isn't for you. If you don't have the time, then hire someone to help you. If you're already investing then you have the free capital to invest in domain consulting.
They will put in the hours to help you find the domains with the most potential so that your portfolio isn't becoming a liability. And most people's portfolio isn't doing anything but eating away at their pockets. That's not what this game is about.
This is a business, and you need to treat it like such. And if you are unsure about a decision, then work with people who can lead you in the right direction.
Nobody wants to dish out more money than they're making. So don't put yourself in a predicament that most investors put themselves in. Avoid the ditches, so you can get the riches.
There are some people who will tell you it's the easiest money you will make online, while others will tell you that it takes hard work.
Anything worth having is worth working for. And you will be putting in some work. So before you go running to purchase your first domain name, understand that it's not going to sell itself. It's very rare a domain name sells for thousands within a few days or months or even years of investment.
Doesn't mean that it doesn't happen, it just means it's rare. There are people out making a serious living selling domain names, I'm one of them. But I also developed my own system that I have yet to find another domainer use; which keeps me ahead of the game.
Work smarter NOT HARDER!
With that being said, you need to find a lane and ride that b*tch until the wheels fall off. Take advice from people who are moving the industry to new heights, and be ready to invest in your own knowledge pertaining to the game. There are so many people throwing free advice, and most of it isn't even worth listening to.
Transparency only goes so far. Investors never tell their secrets, and if they do it definitely isn't free.
With that being said let us take a look at 6 things you should keep in mind as a new domain investor.
1.Have discernment
Domain investing can deliver high rewards if you are patient and willing to learn about what people really need. Find the problem, and deliver the solution. Having discernment will keep you from making whack-ass investment choices, and it will also keep you from buying boatloads of domains that suck. Cybersquatting is a terrible method of domain investing, especially if 70% of your portfolio sucks. You're just wasting money. You're throwing away money. Have discernment.
2.Take Baby Steps
Take your time, and step outside of yourself and find out what people are looking for. The web is content-based, and searches, as well as social media, will tell you what people are looking for. Just because you think it's good and will garner interest from a potential investor, doesn't mean that it will.
We have to push our own arrogance to the side. And I've talked to many arrogant investors who haven't sold one domain in the last 2 months. But yet they want to act like they know where the end of the rainbow lies.
Humility will allow you to learn from people who are actually seeing results from their efforts. Focus on selling one domain, not a thousand.
Create a marketing plan for your domain name. Don't just depend on aftermarkets. You are going to have to get in the trenches and grind.
I've helped people sell their domain names faster by helping them understand that it's about being smart, it's about developing a plan and then executing. It's about knowing where to go and how to present your domain name.
Take baby steps.
3)Read
I spent thousands of hours reading, reading, and reading. Late nights were spent reading, mornings were spent reading. Spare time was spent reading.
Reading is going to help you understand the industry you're in. Do your homework. Find loopholes. Figure out what's working and what's not.
4)Value sells Domains name
People have hired me to comb through their portfolios to see which ones were valuable. And most people's portfolios are garbage. People get domain happy. And they go out and invest in these domain names without any analytical research, without any brand or marketing research. That isn't how this is done.
And many successful domainers won't even tell the newbies this.
But domaining has also changed. You can't just go out and buy a domain name and think you are going to sell it within a matter of weeks.
No, no, no. Unless that domain is a hell of a domain name, it's not going to happen.
You're going to have to find value or create value around your domain name. PERIOD. This became a system I personally developed for my portfolio. It helped me sell my domain names FASTER and for a higher price.
Find value, or create value. If you can show the value of your domain name to a potential buyer, your domains will sell like hotcakes.
5) Figure out your market
A lot of people who invest in domains tend to look for other investors to sell to. And depending on your goal, this could be a terrible mistake. Selling to other investors will undercut the value of your domain name. Investors are looking to get the best deal possible. So unless you're strapped for cash, I wouldn't advise it unless they are willing to pay what you believe the domain is worth. That rarely happens.
Find out who your target buyer is and aim to get your domain in the face of those potential buyers. If they need it they will buy it.
6) Stop Half ass investing
Most people want to make a quick buck, so they go in and buy any old domain name thinking they are going to sell it quickly. Selling it quickly depends on a lot of different factors.
If you aren't willing to sit down and spend a serious amount of time investing and researching the data for a potential domain name, this game isn't for you. If you don't have the time, then hire someone to help you. If you're already investing then you have the free capital to invest in domain consulting.
They will put in the hours to help you find the domains with the most potential so that your portfolio isn't becoming a liability. And most people's portfolio isn't doing anything but eating away at their pockets. That's not what this game is about.
This is a business, and you need to treat it like such. And if you are unsure about a decision, then work with people who can lead you in the right direction.
Nobody wants to dish out more money than they're making. So don't put yourself in a predicament that most investors put themselves in. Avoid the ditches, so you can get the riches.
