- Impact
- 30,422
That doesn't mean it's not making money for me. It is. But it's not record-breaking stuff. Though it has better ROI than some other stuff I have currently.
That doesn't mean it consumes a ton of my time. It doesn't - or at least not anymore. I've streamlined stuff. I can get away with as little as 15 minutes a day if I want to. OR take 2 weeks off - completely if I want.
That doesn't mean I won't be holding domain names anymore. I will - some, my best ones. The others? I'd probably either clear or let them drop.
As one of the most frequent posters in the sales thread: You didn't see this coming from me, right?
But there are reasons I'm considering it. I'm sharing my thoughts, please change my mind. Or not.
What is currently changing my ideas:
- I don't like the current status of the market. I've never seen summer days so empty - in the sales thread. And in my own sales.
I'm making a good ROI, was expected to go past 100% soon (edit: might be there already) and past 100K profit per annum - next year. But it looks as if it doesn't get there. The world is going south - economically.
Edit: 100% annual ROI is not very good in business. Stock size vs. earnings I mean It means your stock rotation time is 6 months, which is not great. Say I have $50k in domains, I make $100k in sales, pocket $50k, that's 100% ROI and 6 months rotation.
- It does require investment. Money you keep locked in your names.
So for example with Dotible (my recent project in the sig) I have low costs and high margin - just like most tech startups would do. Domains aren't that. To make $100k you probably need $50k -$100k in assets (unless you are one of the older top domainers who have very good names).
I'd rather swing my investment towards less risk, more reward areas. Such as tech projects as the aforementioned one.
- It's a positive-feedback business, economically. That's not good right now. What I mean here is: If the economy prospers, you get more money; but if things go south, less domains are being sold. That's the positive feedback. And the downtrend has been already visible in 2022 although the business is still working and some are going quite well. But not everyone.
Things are going south worldwide as you know. I can see the writing on the wall.
In such times, good business is either 1) corporate that is solid and won't probably be touched, 2) small business but with very small cost and overhead, you just simply go ahead, or 3) negative feedback ones.
Example for 3: Repairs, pawn shops/loans or whatnot - anything a person would need in times when cash is low so they need to save or borrow etc. Domains are not of this kind.
I'm thinking of cutting a lot of the overhead, keep a minimal portfolio, have it automated... then off to new things and especially one meeting above criteria: negative feedback business OR high margin / in demand stuff, or catering to enterprise customers that would continue to be just fine in such times.
So what do you think? About what I posted above. Feel free to approve it, or criticize this, or maybe offer me some ideas (hopefully) and most importantly share your thoughts. They will be appreciated nevertheless.
P.S. Oh, and please note I'm also not scared or a quitter or whatnot. I do have good planing in general in business, and my instincts and experience tell me this is a turning point. Now. End of August 2022.
That doesn't mean it consumes a ton of my time. It doesn't - or at least not anymore. I've streamlined stuff. I can get away with as little as 15 minutes a day if I want to. OR take 2 weeks off - completely if I want.
That doesn't mean I won't be holding domain names anymore. I will - some, my best ones. The others? I'd probably either clear or let them drop.
As one of the most frequent posters in the sales thread: You didn't see this coming from me, right?
But there are reasons I'm considering it. I'm sharing my thoughts, please change my mind. Or not.
What is currently changing my ideas:
- I don't like the current status of the market. I've never seen summer days so empty - in the sales thread. And in my own sales.
I'm making a good ROI, was expected to go past 100% soon (edit: might be there already) and past 100K profit per annum - next year. But it looks as if it doesn't get there. The world is going south - economically.
Edit: 100% annual ROI is not very good in business. Stock size vs. earnings I mean It means your stock rotation time is 6 months, which is not great. Say I have $50k in domains, I make $100k in sales, pocket $50k, that's 100% ROI and 6 months rotation.
- It does require investment. Money you keep locked in your names.
So for example with Dotible (my recent project in the sig) I have low costs and high margin - just like most tech startups would do. Domains aren't that. To make $100k you probably need $50k -$100k in assets (unless you are one of the older top domainers who have very good names).
I'd rather swing my investment towards less risk, more reward areas. Such as tech projects as the aforementioned one.
- It's a positive-feedback business, economically. That's not good right now. What I mean here is: If the economy prospers, you get more money; but if things go south, less domains are being sold. That's the positive feedback. And the downtrend has been already visible in 2022 although the business is still working and some are going quite well. But not everyone.
Things are going south worldwide as you know. I can see the writing on the wall.
In such times, good business is either 1) corporate that is solid and won't probably be touched, 2) small business but with very small cost and overhead, you just simply go ahead, or 3) negative feedback ones.
Example for 3: Repairs, pawn shops/loans or whatnot - anything a person would need in times when cash is low so they need to save or borrow etc. Domains are not of this kind.
I'm thinking of cutting a lot of the overhead, keep a minimal portfolio, have it automated... then off to new things and especially one meeting above criteria: negative feedback business OR high margin / in demand stuff, or catering to enterprise customers that would continue to be just fine in such times.
So what do you think? About what I posted above. Feel free to approve it, or criticize this, or maybe offer me some ideas (hopefully) and most importantly share your thoughts. They will be appreciated nevertheless.
P.S. Oh, and please note I'm also not scared or a quitter or whatnot. I do have good planing in general in business, and my instincts and experience tell me this is a turning point. Now. End of August 2022.
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