NameSilo

Domain Microfinance Program

Labeled as discuss in General Domain Discussion started by Rob Monster, Sep 19, 2019.

Replies:
242
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11,108

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What do you think of the idea of a grant and microfinance program?

  1. Brilliant idea - Go for it!

    53 vote(s)
    42.7%
  2. Good idea but you are in for a tough run

    19 vote(s)
    15.3%
  3. Long shot but it just might work

    22 vote(s)
    17.7%
  4. You are going to lose your butt on this one

    30 vote(s)
    24.2%
Total: 124 vote(s)
  1. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    I can you missed it -- I did hire @Abdullah Abdullah. He got a pay raise.

    As for the topic of giving out Digital Empowerment grants, and seeding private domain portfolios with a kickstarter, we'll try not to break the bank. However, as we see donated domains sell, I think we'll be sure to put that money to work.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    Congrats @Abdullah Abdullah ,

    Maybe NamePros mods aren't such bad guys after all. :)

    Rob, how many people have you hired due to your recent projects, and how many more are you planning to hire in the near future, It looks like you are already empowering several people even before the project has started. :)
     
  3. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    There are no particular hiring slots. We just look for amazing people that feel called or inspired to come work with us and where there is some compelling basis for sustainable win-win. @franka46 is actively scouting but mostly it will be driven by whether talent shows up for which we can derive some projectable ROI beyond what it costs to sustain their cost. We'll be largely promoting from within but we'll be on the lookout for middle management candidates that we know well enough to have confidence that they would be a good fit. We are about 30 people now, and I would not be surprised if we are 300 in 2 years. However, that is just a guess, and it will be driven "talent meets opportunity" rather than a set hiring plan.
     
  4. franka46

    franka46 Established Member

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    I think there is more to it then just ''micro financing”. It's about giving young people — boys and girls -- a chance to develop their skills . We are mainly targeting developing countries where the chance for young entrepreneurs to improve their lives are very difficult .For them to be able to own a domain name and develop or sell it would boost their self-confidence. Some comments were made that $30 of domains would not be enough, better $300 they say .. But these people earn $100 per month, if lucky enough to have a job, and so $30 is a lot of money and they will have a chance to double it, not lose the money.
     
  5. JB Lions

    JB Lions Top Member VIP

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    What skills? If they had already existing domaining skills, they already would be making money. What happens to their self confidence when they don't get sales? Again, they'll be using hand regs or domains other domainers couldn't sell. Is this going to be a case where Epik buys some of these early domains, prime the pump, getting people excited? It still doesn't address all the issues brought up.

    Again, domains that domainers couldn't sell but magically will start being sold by somebody completely new to this?

    While I'm here, this nonsense:

    Not once have I said he was a bad guy, very dishonest posting on your part. I actually think he's a good mod from what I could tell. I said registrar employees shouldn't be mods, across the board.

    Again, if you truly want to help somebody, try something considered a bit more steady. Like a job, a trade. Not investing in domains.
     
    Last edited: Sep 22, 2019
  6. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    @JB Lions - Here is what you either don't get, or are deliberately overlooking for reasons I don't know.

    Two points:

    Many of these folks live in countries where there is not just poverty. There is also extreme wealth. There are successful business owners. They need .COM domains too. Who will bring them to them? Well, why not locals. If a new 5-star luxury resort hotel is being permitted in Bali, would you know that? I wouldn't. A local might. Well, that local can secure the perfect domain and bring it to the resort operator's attention. Win-win.

    The rate limiting time for finding domain buyers is often time -- time to pore over drop lists, and time to see who is the logical buyer for these domains. With 100,000 .COM dropping every day, there are plenty of domains that are being dropped and not picked up. There are also plenty being dropped by the big dropcatchers because they got no traction for $3000 or whatever. Buy for $5, sell for $100 or whatever.

    This is a story of crawl, walk, run. If that bores you, so be it.
     
  7. JB Lions

    JB Lions Top Member VIP

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    This is more nonsense posting.

    They need .coms...........then they can buy them now. They can't buy them because they were never sold by poverty stricken folks that never sold a domain in their life? What? And people who buy 5 star luxury hotels don't know about buying domains? Having a site?

    Then people completely new to this are going to find gems in those 100,000 that actual experienced domainers can't? And what is stopping them now from doing that? Again, people from those countries are already doing that, some already posting in this forum.
     
  8. lolwarrior

    lolwarrior Founder, Brands.International VIP

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    Seems like the poll is very polarized atm ... half of the people think it is good idea, half of the people think the very opposite.

    I am trying but honestly still do not understand how can $30 (or $300) in domaining change someone's life ...if that would be other field of human activity (let's say someone needs to plant their fields and just need those initial $30 to buy first seeds, from which they will have crop and thus new seeds to repeat the process, etc, I would understand that.

    But domaining does NOT require initial capital, it requires time, effort, drive and energy to study.

    If someone is without funds, they can BROKER already existing portfolia ... and they can get commision if they make a sale.

    So why do you guys want someone to take your $30, and to register some names, for which (because they will be handregs) they will in average get let's say $400 IF they ever resell them? In the same time, with same effort and same energy someone can (with $0 capital required) broker some of my names (for example) .. and if sold succesfully, they can get MUCH MORE then anything they could ever get from those $30.

    But that would require lot of study, lot of energy, and focus on non .com names imo (why non .com ? Because for premium .com names we already have enough brokers, competition is huge there, while even my grandmother can broker name like hotel / com and achieve 7 figures for it, it is not a miracle). But to actively sell new gTLDs let's say via Linkedin is much much harder (it requires knowledge, end users will be asking many things), and this is where I see potential for future, because competition is still very low there, so even new people can enter there quickly and have success ..

    So I would forget the $30 idea, and I would better focus to train people to be domain brokers, that will have much more value longterm, both for you and them ... just my 2 cents :)
     
  9. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    We'll have to agree to disagree. I was providing illustrative examples that reflect two patterns: (1) local market knowledge, being applied to tap local excess wealth, and (2) labor arbitrage from countries where labor is far cheaper than western economies. Of course this makes too much sense. Cheers. The majority think you are a spoilsport. I agree.

    upload_2019-9-21_19-37-28.png

    Nevertheless, keep with the specific outlining of pitfalls, and we can try to work through them. However, if the agenda is simply subversive, we'll just ignore you.
     
  10. JB Lions

    JB Lions Top Member VIP

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    Have you also seen the poll on how many people are hobbyists vs. how many do this for a living? So quoting that poll is pretty pointless. And if my points being brought were nonsense, you would have taken them apart by now, you can't.

    lolwarriors's post makes more sense. Give them a job, train them to find leads for domains. Federer does that I believe, Uniregistry brokers I believe all take the DNacademy course. You want to bring them into a high failure business instead? Trying to sell hand regs and domains other domainers can't sell?
     
    Last edited: Sep 22, 2019
  11. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    You bring up a few good points and then out of nowhere you make a comment that sounds a little strange, I didn't even remember what you had said when I made that comment about the Mods.

    Why is everyone at each other's throat in the thread. You can't a even make a little joke when congratulating someone. :xf.frown:
     
  12. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    That's a good idea that perhaps can complement this project at some point in the future, but I believe that if they start by selling out of the donated domain pool to begin with is a better way to train them. Everyone assumes that the domain pool is going to be made up of domains that have no value that people just threw away, so why not conduct a poll to see what kind of domains people here are willing to donate as far as quality and value, before making any judgments. Remember people don't have to donate hundreds of domains, just 2 or 3 good ones that have some resale potentials, considering the large number of well off domainers on this forum even if each person donated one good domain that can add up to be a big pool.
     
    Last edited: Sep 22, 2019
  13. franka46

    franka46 Established Member

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    JBL ,,I have been domaining for about 12 years ,99.9% handregistered ,I like to do things my way ,use my gutfeeling to find domains that sell .I have never made a fortune but at 72 years of age ,my enthusiasm and selfesteem is still sky high and I have managed to sell some domains too .I have over 1000 now and I know what you going to tell me "" if you had invested that money in a proper domain [$10k +] you would have made more money .I dont need to make more money ,I enjoy ""'The Thrill of The Pick "" use your own imagination in chosing a domain that sells .We are not all 'Loaded';
    But like with every domain forum ,there are always people who know everything ,fail to see the big picture ,dont see things from another person's view .
    If young kids cannot handle not being able to sell a domain and they give up ,then they have a problem .
    I have been motivating young people in Bali for 10 years ,in China for many years ,all loved to listen to my stories without feeling patronized by me.
    I always tell them to remember the 3 L's "Look Listen and learn "
     
  14. JB Lions

    JB Lions Top Member VIP

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    Great, except yet again, doesn't touch any of this:

    $30 to people who are broke, in poverty, where English isn't their native language, in a business where:

    $30 isn't enough money usually

    high failure rate

    hand regs or other domainer's leftovers, names they want to drop, will be even harder to sell, than let's say an aftermarket pickup

    most names will probably never get an offer, or could take years

    It seems people just want to jump all around that with a lot of rah rah stuff but not taking an honest look at those issues. I don't think anybody has taken apart each point. How do you get past the high failure rate? How are they supposed to sell domains, other domainers can't? You guys very well know some domains will never get offers, some it might take years. Hand regs, other people's leftovers, the odds even worse.

    -----------------
    Give them a job. They can take money earned and try their hand at domaining. I wouldn't suggest these people try their hand at buying stocks, crypto etc. either.

    "I have over 1000 now and I know what you going to tell me "" if you had invested that money in a proper domain [$10k +] you would have made more money ."

    I've never spent that much myself on a domain, it's rare I even go over $1,000. You find what works for you. I would have suggested instead of 99.9% hand regs, jumping in the Aftermarket and getting names a few hundred and under and selling them for 4 figures and up. That's very doable.
     
    Last edited: Sep 22, 2019
  15. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    You are right about buying at few hundred dollars in the Aftermarket and selling for four figures to end users being very doable, many people here are doing it everyday.

    How many members here with large portfolios do you think will be willing to donate a two or three hundred dollar domain to the pool that can be sold by the participants in the program for double or more, that's what we need to find out, and if you say that no one is going to donate even one domain then I guess the domain Industry is not what we all thought it was.
     
  16. JB Lions

    JB Lions Top Member VIP

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    The domain industry is about buying and selling domains. Anybody in this world can jump in. Your idea makes no sense. You want people to donate domains they paid two or three hundred dollars, when new people can get started just like everybody else. Put in the work, whatever money you can afford to lose or want to invest, make good choices, learn from your mistakes etc. BTW, this is yet another post that has failed to touch any of the real issues brought up. Dancing all around it, doesn't make it go away. You can go ahead with this project, you will be dealing with these issues at sometime.
     
    Last edited: Sep 22, 2019
  17. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    New people in developed countries yes, but we are taking about helping impoverished and disadvantaged people who have the ambition to move up but are caught in some bad situations that condemns them to a life of poverty.
     
    Last edited: Sep 22, 2019
  18. JB Lions

    JB Lions Top Member VIP

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    So you want to get them into something with a high failure rate? With hand regs and domains that other domainers can't sell? That doesn't make sense, sorry. You keep trying to play this emotional angle, instead of having a real conversation on this. Still not touching any of the points.
     
    Last edited: Sep 22, 2019
  19. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    You didn't say why we can't create a pool of donated domains, like one domain by each member that are in the two or three hundred dollar range and you keep reverting back to the participants having to deal with worthless or leftover domains, please address this precisely without any diversions.
     
  20. JB Lions

    JB Lions Top Member VIP

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    Please tackle my points you keep skipping post after post.

    How many $200 and $300 names have you donated so far? I never said you couldn't. Nobody is stopping anybody from doing anything.

    No, I'm not giving my names to people who have no idea what to do with them. They can do what everybody else does, what I already mentioned. Again, we have people from all over the world, all levels of income in this business. Put in the work.

    Don't have much money? Grab a coupon, get to it - https://www.namepros.com/forums/domain-coupons-and-offers.358/

    Get your hustle on.
     
    Last edited: Sep 22, 2019
  21. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    And that's fine if you don't want to donate any domains, are we allowed to find out what everyone else in the forum is willing to donate, and till then any more objections to this project will be baseless. IMO
     
    Last edited: Sep 22, 2019
  22. Ategy.com

    Ategy.com NameCult.com Gold Account VIP

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    The biggest challenge facing any potential emerging market domain investing system, is the significantly increased relative registration and renewal fees vs the purchasing power of potential local businesses.

    I enjoy success because Western buyers are able to value domains at a significantly higher dollar amount than in emerging markets. It allows me to sell domains that cost me under $20 at closeout for 100x and above ... when considering the 1.5% average sell-through (I'm actually at less because most of my names aren't priced or listed, but I'm still profitable because some of my sales have been over 100x). So that effectively gives me about 50% return on investment ... but move that same sell-through rate over to an economy operating at 1/10, and suddenly you're operating at a huge loss .. SIGNIFICANTLY distant from anything close to breaking even.


    This is what I feel is the tragedy with the lifting of pricing regulations on the old gTLD's like .org and even .com ... the argument is being made for existing organisations . .which is fine .. but the real losers are the developing nations who have not yet reached anything close to digital market saturation .. they will be the HUGE losers.
     
  23. JB Lions

    JB Lions Top Member VIP

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    What's baseless is this rah rah stuff, pretending issues don't exist, and dodging them every single post. And when people do bring up potential issues, your typical response is basically a, oh, you don't care about the impoverished. Try being real.
     
  24. Xabial

    Xabial Established Member

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    Sounds like you’re counting them out, when I believe — the best is yet to come.
    You see “rah rah stuff”, I see intelligent discourse.
     
    Last edited: Sep 22, 2019
  25. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    I think having a poll to see how many members here are willing to donate at least one good domain will settle all arguments and points us to the right direction, the right answers will come after the poll is running for a week. Until then going back and forth is useless.
     

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