Getting the first sale...

[Maestro88]

How long were you actively involved in domaining before the first sale came along, big or small?

What is the best way to start as a newbie, aim to make a small supplemental income daily by flipping decent domains asap - or building sites/mini-sites and building traffic and taking a more medium term view with each domain? Or a combination or both approaches? I know it is best to read the relevant websites and download the usual shows and I have done that for a year or so, but...

I have a numbe of domains listed on GD, mostly .coms and all short and very brandable - but they seem to get very few 'views' never mind any bids.

Tks

 

[cocaseco]

There is no single "right" way to be successful in domaining. Some people do like you said and start with second tier domains they hand reg and then flip them for small profits making maybe $10 or $20, then reinvesting that over and over until you can fund first tier domains. If you have the skills to do the development, you can almost never go wrong doing that and building traffic or revenue. Especially on second tier domains that likely will not sell on their own without work. Once you are up to buying first tier products, then you will find more customers and a wider audience of buyers, including unsolicited bids. I'd say the three most important factors in my opinion are to first, leverage what skills or knowledge you have. For example, if you know about archery, focus on domains that you know archers would use and market on the forums and other places that you know they read. Second, don't be discouraged by unsupportive people or comments. Almost every domain has a value to someone, the challenge is for you to find them. We often get tunnel vision on what we know and how we do business, but their are billions of people online , each with a different background, different interests and different goals, keep an open mind to new ideas. Lastly, don't spend the rent money. Its easy to buy a lot of domains, but its hard to sell a lot of domains. Everyone will seem like a great deal and that you have to act now or it will be gone. Truth is, there will be another if that one gets away. Even if you have deep pockets, set some limits.

 

[biggie]

Hi

i think there are waaay too many distractions for newbies.

your experience seems like other entrants who read articles and watch videos, then register and list.

afterwards, they question why their names don't get traffic, earn any revenue or get any bids.

when in fact, most of the "learned expectations" are higher, than reality can provide.

it takes a while to learn what to expect, or to not expect anything, while still making purchases when you can afford it.

"brandable" names, in their broadest sense, have to be seen as such, by a potential.

therefore that market is limited and is largely predicated on an emotional tie to a domain, unless it's a unique fit for a particular biz model.

so stacking your deck with them initially, reduces liquidity, which creates slow sale cycles and breeds discontent.

buy into what's moving, and take smaller margins to rapidly build capital.

then spend profits on renewals and speculations.

imo...

Good Luck!

 

[Maestro88]

Very informative and useful advice, thanks Cocaseco.

 

[Maestro88]

Thanks Biggie - yes, I plan to start developing a couple slowly but surely whilst seeing what others can be moved for a small profit. Starting small and not putting all the eggs in one basket appears to be the best bet.

 

[Plato]

How long were you actively involved in domaining before the first sale came along, big or small? Tks

Hello and welcome!

Well, it depends on many, many, many factors...
Back in 2009 I had my first end user sale in 3-4 days after I handregged one of my very first names ( it was a dropped domain).

What is your expertise?

I have a numbe of domains listed on GD, mostly .coms and all short and very brandable - but they seem to get very few 'views' never mind any bids.

Tks

Maybe you can list here a few of your brandables to get some feedback. Brandables get usually no traffic

 

[Maestro88]

Thanks Domaineus - I didn't know anything about the industry until about a year and a half ago - I can't even remember what particular piece of news I read but I think it involved a high profile domain sale to which I wanted to read more and after browsing the web a lot I registered my first handful of domains - a couple of which I have now let expire as they were rubbish, and a couple of which I renewed. I have registered a few more this year, brandables, some of which I'll try and post later when I get a chance. Couple were hand-regs and a few were dropped.

I have toyed with website builders and managed wordpress and think putting a site or two up will be a good start just to learn more and get a feel.

I am in no rush as I am only early 30s but don't know enough and maybe still at the stage I think it is not possible to become a success at this - we all dream of giving up the 9-5 slog but only lot of hard work and a bit of luck may make that possible!

 

[biggie]

- we all dream of giving up the 9-5 slog but only lot of hard work and a bit of luck may make that possible!

for most, the 9 to 5 gig pays medical/dental and sometimes educational benefits, and perhaps time to browse the internet.

if you can keep that stability and still dabble in the izz-art of domaining... life, will seem better.

as you make transactions and get the feel of how it goes, the leverage shifts in your favor according to the successes achieved, then the 9-5 can become a tool, to do domains.

imo...

 

[NameFit]

Hi there, @Maestro88, I would say - click and click and read what people are saying. I would point you to some excellent threads that address the same topic (I would not have expected anyone to find these) - read every post on it and do not get lost

https://www.namepros.com/blog/its-never-too-late.859231/#post-4866783
https://www.namepros.com/threads/how-to-sell-domains-fast-marketplace-or-own-site.857905/
https://www.namepros.com/threads/even-experts-are-investing-in-new-gtlds.858240/
https://www.namepros.com/threads/79...-a-name-for-your-startup.857739/#post-4856731

Personally I can definitely suggest that a particular name would be a good investment or not.

Best

 

[Jasonn]

took about a year before i made my first sale but i was never trying to sell, they just emailed me and wanted to buy it, sold it for 3k and eventually they let it expire and it remains unregistered. it wasn't a good domain. i got lucky on that one.

 

[Willox Perez]

Like many others have said it really depends on a lot of factors when it comes to making your first sale. For me the interesting part was that I gave it to a broker to send it to his list and it worked. The only down side was the huge commission I had to pay but I still was pretty happy about making my first sale especially since it was a Godaddy Closeout.

When it comes to getting started and being new to the industry, you simply have to give yourself time to test out different approaches and see which one works out best for you. It is not fair for me to point out a path I am good in when that may not be your bread and butter.

But...

Definitely be open to all the information out there get good at analyzing what is good information and what is just simply distractions. The one thing you don't want to end up doing is not having a clear focus on your goal or plan of action and get caught up chasing every new method or technique.

Find your balance, find your way and be consistent.