discuss Domain Investor Stress, Balance and Wellness: Input Sought

[Bob Hawkes]

I am researching the topic of mental wellness for a future NamePros Blog article.

Domain investing can lead to stress. I am interested in how you deal with that, and tips for achieving balance and wellness in your life.

Are there great online resources that you recommend?

If you do not wish your comments to be potentially quoted in the article, please indicate that.

Thank you in advance for your input.

Bob

 

[buydomainnames]

Stress is about emotion, its created by our motion. We can manage our stress by changing our focus to invest more in ourself, cause there is no one care when we should lost anything in our life .

Think more on what we want to be like a funny kids,cause they are always happy. Learn more from successfully domainers, listen to their great advice and adopt it based your reasonble condition with real action .

 

[jedaprin]

Maybe domains are the collaborative works of peoples subconcious combined together

Kinda like that movie transcendance

 

[MadAboutDomains]

Take the opinions of others with a pinch of salt. Not everyone's going to believe in your vision. As long as you're honest with yourself about the prospects of selling your domains then that's all you need... Ensure that your prospect is born in reality and not in the hope that your investments will eventually become the flavour of the month and bring you riches because of reasons outside of your control, that will lead to stress.

Don't over invest and don't invest too quickly.

Don't sit looking at lists of domains all day it will send you crazy.

Diversify... Don't put your eggs into one basket. This will help with my point about people's opinions, you'd only really care if you're all in on one particular niche or type of investment and have a lot to lose.

Go for a walk every now and again.

Open the curtains, have a shower (a wash) in the morning and get dressed.

Build a website instead of just sitting on domains. I've had great successes with building websites, it occupies time, it's fulfilling and challenging. Every bit of knowledge you pick up and every time you work on it you are building something that is tangible that you own. Domaining can be an up hill struggle that can yield little results, so make use of your ability to acquire nice domains and put them to work. Like domaining it takes a lot of time and concentration, but you gain a bit of control when you turn what you have into something that people find useful.

Just some thoughts.

 

[jhm]

@Paul NamePros weekly yoga session, via video call (help our stress, balance and wellness)

 

[King]

Take breaks, breathe, exercise. Have some fun. That easy.

 

[Mkt Sales Leads]

Here are my tips.

Have the right expectations:

If you came straight from a YouTube video that told you how sex.com sold for millions and how you would be raking in millions in no time from domaining, then stress is bound to set in when you discover it isn't so. Having the right expectations will definitely keep your stress level down.

Read, study and learn. Then rinse and repeat:

With domaining, you can't skip the learning process. The more you learn and apply, the more results you'll get and the more confident you will become. So, channeling your frustrations into learning is a better use of your time.

Own your journey and be content in it:

No two domainers' journeys are the same. Find contentment in what you have. Change what you don't like. Instead of being stressed by the success of other domainers, be inspired by them. Emulate them if you must but find your own path.

Like @DN Playbook already stated, only spend what you can afford. Don't get addicted:

Money is a big stressor for many people. Domaining on the other hand can be addictive for some people, especially hand-regging (see the meta thread as a prime example). Don't go on a spree thinking that the next domain might be the one. That's just going to cause you unnecessary stress.

Take a break:

Taking a break once in a while is good for your mental health. You always gain some perspective when you put some distance between you and something. Same works for domaining.

Stress can stem from misplaced expectations and often these arise from YouTube/other social media/news headlines sensationally proclaiming how some highschooler made $80 million selling Greyhoundcrypto.horse
Because of potential euphoria setting in (cue pound/dollar/euro signs in eyes), it helps to have a detached, unemotional outlook when starting out in any moneymaking venture.

 

[Eric Lyon]

High impact stress and anxiety happens in every industry and seems to be more of an impact the closer to the grindstone or level of involvement you are.

You can bounce back for months, years, even decades, and then one day, you just can't motivate to bounce back again.

Total niche or industry burnout.

Can one recover? Sure, but it may require an event to take place to restore the proverbial fire.

Events might be: A confirmed sale, unexpected parking revenue, a reputable inquiry on one of your long-hold premiums, new consistant high-traffic indicating one of your niches got popular, etc...

What ever the event might be for each individual, it generally has to be generated from within the industry itself to recapture the attention and spawn more motivation.

Now, how does one trigger an event after a burnout with zero motivation? I think it's very difficult and speculative to try figure out each individuals ignition trigger. Some, may never be found, while others was easier than realized.

An event catalyst to initiate a trigger could be as simple as a fellow investor, family member, friend, coworker, etc... creating the event to assist with reigniting the flame.

But, what if you don't have anyone around you that thinks about trying to remotivate you? A solution may be to pick a motivational partner involved in the same industry you are, or were.

Your partnership will only be to provide motivational support to one another.

Perhaps, the above could be the beginning of a constant motivational cycle that helps with releasing stress and anxiety in the industry.

The whole "positivity attracts positivity" (Law of Attraction) may apply.

That's just my opinion anyways. What works for one may not work for others.

At the end of the day, a domain is only worth what a buyer and seller agree on.

Perspective also helps with stress.

 

[biggie]

A confirmed sale, unexpected parking revenue, a reputable inquiry on one of your long-hold premiums, new consistant high-traffic indicating one of your niches got popular,

Hi

how did you know

imo...

 

[Eric Lyon]

Hi

how did you know

imo...

For me, this time around, new consistant high-traffic indicating one of my niches got slightly more popular and active.

 

[Name Trader]

OK. I finally got the final piece of the puzzle. when I upgraded my Windows10, I magically got my Windows10 main user account from before, which was expressed as being there, but wasn't on the boot menu. So I got about 3 months of a horrible mess to clean up. But nothing in the way ahead to stop me. Yippie!

 

[jhm]

Don't get stressed by buying domain names. If you can afford good quality, hold it. Maybe more stressful if you're buying borderline stuff. I go to what people above have said: Don't be so serious about this, have fun

 

[Bipul]

For me , Take breaks!

 

[mubashirgodha]

Some Newbies may be stress when they see other people sell names quick or with good prices and wonder how can they do the same thing.
I saw a lot of same questions which lead to no answer: How and where can I sell my names quick.
So instead of spending the time to market them they keep reading the wrong answers and even listed them here for appraisal which will lead to nowhere.
- BB, SH listed
- Search Volumes
- EMD
- How many extensions were taken.
There is only one buyer for your name so don't think too much.

In order to reduce stress you need to consider some simple thinking:
- Quality names will sell - quantity is not matter if you bought/register crap names
- Do not believe in appraisal - you can sell the same name to small company for $5,000 and big company for $50,000
- List them everywhere: Sedo, Afternic, Godaddy, Dan, etc...
- The landing page looks has nothing to speed up the sale but the reputation of the company will.
- Simple thinking when buying the name: If you will develop the name to a website, will people come?

And last but not least NEVER ask your wife about her opinion.

How much time will NamePros take to sell a domain with the Gold Account or any other upgraded account?

 

[NameBuyer.com]

- Do not believe in appraisal - you can sell the same name to small company for $5,000 and big company for $50,000

And sometimes it's reverse, so don't stress about that either, but prepare by setting your prices and expectations in advance after some accurate thinking. In the last couple years I've had a small startup company of just a few people purchase a name for $15k, and a company that does over $13 Billion (with a B) per year in revenue, not want to spend $15k for one of their new brands (siips(dot)com and instead went with siipsmilk(dot)com). Not including bots, it is now leaking 300-350 customers per month to siips(dot)com, that were never visiting my site before their launch.

In the future, for great names, I think I'm going to do what Rick does to some extent for businesses that look promising. I'm just going to stick to my price and offer an alternative of doing a 1-2% share at the time their company is acquired by a larger company. I feel doing a profit share is unrealistic unless you have an exceptional name, but doing a 1-2% when their company is acquired is a definite option, because it is funny money (that doesn't exist) and would only exist if their dream is realized (by growing to such a size).

Offering the 1-2% at time of being Acquired will do 4 things for me/you:

1. Help you realize there's an objective price and a subjective price to all your names. A small company may want to buy plum.com at $5k, but that isn't going to happen no matter who is selling the domain. That's because there's an objective price to Ultra Premium domains, and even some Super Premium domains. At the beginning, price your domains based on the perceived objective price, then learn how to extract value based on the subjective price.
2. Weed out the large corporations trying to buy domains cheaper (yes, I've had a corporation that we all know tell me they were starting up a "blog" from a yahoo account). These will be weeded out because a decent size company would rather pay for the domain rather than agree to a percentage based deal in the future.
3. Help small startups buy great domains. There are times where I'd like to see a domain go for a decent price, but really don't want to give it away. This also removes sellers remorse. I don't know about you, but the last thing I want to see is my domain being part of a large Google purchase in the future and with me just thinking about how I only received $5k for the domain. If they don't make it big, that is fine. If they do, see number 4 below.
4. Create several high dollar lottery tickets for you. You are basically exchanging the additional $10k-70k that you would have received upfront for the domain for a small "chance" that the company is acquired in the future. The scenario in number 3 above is exactly what happened for the domains fitbit.com and vivint.com. They both sold for $5,000 each. Fitbit was acquired by Google for $2.1 Billion and Vivint was acquired by Blackstone Group for $2 Billion and the domain sellers couldn't even figure out how to get $1 million. In these scenarios, at just 1%, the sellers would have received $20-$21 million. A windfall for anyone.

 

[NameBuyer.com]

How much time will NamePros take to sell a domain with the Gold Account or any other upgraded account?

I think this is part of the misconception he is talking about. When I was new I came on here and offered a handful of my low-value domains that I thought were high-value domains. I priced them at $200-$1,000 each and they never sold.

But you have to realize where you are posting this. To other domain investors. They want to pay close to what you paid for the domain, not retail prices.

You really need to just point your domains to a landing page with a price, and list them on Afternic (premium network option) to start off and just wait for a sale.

An easy check for anyone new, if your domain is a dotcom and there has never been any type of business, hobby, product, or service that has been called by the same name, you have a much lower chance of selling the domain and in most cases you should drop the domain, if you like (or would like) making money by selling domains.

For example. I have the domain fluux(dot)com. If you do a search for the term fluux, you can see there are many businesses, current and past, who have used that term. Because of that, this domain, as a dot com, will have value associated with the domain and demand for the domain. In contrast, the domain fluul.com is available (at the time of this post). If you do a search for that term, there are no businesses, current or past, who have used that term. That domain will most likely have little or no value and will likely not sell in any venue.

 

[Mkt Sales Leads]

Don't get stressed by buying domain names. If you can afford good quality, hold it. Maybe more stressful if you're buying borderline stuff. I go to what people above have said: Don't be so serious about this, have fun

Domaining's fun if one doesn't overspend on bad names, nor frets over renewals.