Hi, and Welcome to domaining, here's some starting advice..
In the beginning. You will get very excited and get 'stars in your eyes' at the potential $$$ in domaining. It's the truth. For all of us. C'mon where else can you pay $10 for something and sell it for $2,500 or more. Plus have the attraction of a puzzle game and a lure of our intelligence. (
...yes, yes.. you think ..I know they say that not many make the big sales in domaining ...but I will be different. I am smarter than the average person. My smarts will enable me to choose the winners ..over the 1,000s of domainers who came before me.) We all think this.
Here's the interesting thing, each year, you will look back at your earlier domain choices and what you would buy now, and you realize that you have developed as a domainer over the past year and you might not buy some of them with your todays head. That should tell you something about learning more, before rushing to buy domains before you learn.
The best advice I have to a newbie in domaining is - "Look, don't lose your excitement for the hunt for domains. And you don't have to stop the pleasure of looking. BUT don't buy. Put them in 'To Buy' Lists. Like to Do Lists. Don't get scared of losing them, if you don’t buy them instantly, as more will come available, as it is a business of dropping domains, that recirculate. Also there is the new gTLDs, which bring new possibilities in the future. i.e. we are not stuck in a stagnant non changing industry. Domains drop. People get used to new TLD extensions. Things change, and where there is change there is opportunity. So make your LISTS. While you learn domaining. Research the names on your Lists. Look at namebio.com and dnpric.es for equivalent sales. NEVER buy on excitement. NEVER buy same day. Sleep on it. With your new eyes and new head, in the morning ..look again. Then buy.
You may not think the price is high ($9 invested in buy for a possible return of $2,500 ...c'mon C'MON lets buy it now!!!) But even at sales times of prices at $2 per domain, when you start buying all the ideas and names on your lists, even just the TOP lists end up being $80 - $120 at checkout. It adds up.
So don't buy as a newbie. Learn, learn learn. Read all the posts from domainers here at NP. Some members are incredibly generous with their knowledge, and have been domaining for 10 -15 years. There's gold nuggets in many threads, ..a comment here, a comment there.... And NamePros has been going for a long time. Its an incredible resource. So the key is 'Learn ..to Earn'
Learn from others mistakes. My old man used to say 'learning a lesson the hard way is a good way to learn, as then you never make that mistake again" I say buggar that, I would rather see
someone else bump their shin on the table painfully, and learn from their lesson, than bruise my own shin, learning a lesson of where not to walk. Same thing in domaining ..read the threads on others lessons. They have learned the lesson the hard way. So you dont have to. You can learn from their bumped shins.
Then in a few months, when ready.. look back at what you would have bought before learning from these threads. See how you feel different about them. Then choose with your
new domain knowledgeable head, the valuable domains that you know can sell at sedo, 4.cn or BB… and buy.
So Learn, make List… and
when you are domain smarter… then ...you Buy.
There's more.. ..but that will do for now. Its the most important lesson for newbies anyways, I think.
