Help Please

[penuthead]

Hello,

I am very new to the world of Domain infact on discovered it about.... 5 hours ago.... After 5 long hours of constant read i am going to take the plunge.
Could someone take me under their wing and help me out please

Many thanks

:D

 

[Sparhawke]

First piece of advice, read all you can for about 5 months...5 hours is nothing

It is not enough to stick pins into a list of names and hit the jackpot, you will need to know business, politics, geography, languages, psychology and a whole other multiples of "ologies" and that is just for starters

For example, if you are targeting the UK extension today you will have to know what kind of business the you are targeting, how much they spend on advertising and their local competition, you will have to know the particular language nuances (Yorkshire dialects are different to Lancashire), how people work and what they are likely thinking and also how it fits in with the rest of the world as a whole.

I must've read the CIA page hundreds of times by now...

Anyways, if you are adamant about trying this, stick to exact product names to start, they will give you your best chance at making money..."baked beans" are definitely superior to "bakked beans" in any of the major extensions of .com, net, org, co.uk, de or even info.

 

[penuthead]

thank you
How much money can realistically be made from this industry?

 

[mhdoc]

My guess would be that less than 10% actually recover their costs of registration and renewal.

Good advice above.

 

[Sparhawke]

thank you
How much money can realistically be made from this industry?

That is a question that can never be answered, some people like to stick to certain types of domains which are easy to find and bring in a little money and some of us like short domains of 2-4 characters which get astronomical prices bid on them sometimes, some of us are big hitters who think nothing of throwing $100,000 down on a bid and some of us do not have 2 $10 notes to rub together. Some of us like to build out our own domains before selling them and some like to hold on to them for years.

It is the same as real life, you will only get out of it what you put in but it is in no way easy, for every generic single word domain you find a business owner will find a 1000 excuses not to buy...including many alternatives.

Just whatever you do, spend a few months figuring out how things work and how all the little pieces fit before spending your mortgage on a few thousand domains, I can almost guarantee you will lose if you do the latter (For instance, many people will say you should never consider any other extension than .com, I disagree, sometimes .com can be the worst choice when you are a local business or when you are trying to lend an aura of respectability, who here would ever visit cancer.com?)

I still make odd choices, and everyone here will admit they do too...it is about limiting those random brainfart moments to times when you are away from the keyboard and can think clearly :p