Hi, I'm New Here. Advice for a newbie?

[Matthew Wellington]

Hi everyone,

I'm new here and just wanted to introduce myself. I'm new to domaining (in that I own 20-30 domains but haven't sold any yet).

Question for everyone is:

If you could give a newbie one bit of advice, what would it be?

Where is the best place to sell domains? What criteria to buy? To disregard godaddy/estibot valuations completely (or may they have some sustinence to them if considered with logic)?

Thank you everyone!

 

[M Usman]

Thats the biggest mistake new domainers make. The problem is new domainers dont understand domain value yet so cant pick a good hand-reg yet, that comes with experience.

Scroll through this forum for a few weeks and see the hand-reggged names. Even better, have a look at hand-regged names from 2, 4 or 6 years ago and see where they are now? Expired and available again. The issue is new domaienrs dont often buy 1 or 2 names and try sell them, they fall into the common reg frenzy and end up with 50, 100, 500 or even 2000 names and then they sell 1 name and think theyve made a profit, add up the renewal costs of all the names and you are way behing in $$$

Its a much better tactic to spend the say $500 you start with on 2 or 3 decent names that will at least have a chance of selling, rather than 20 hand-regged names that will expire in a year or 2. Much better profit margain, which means more money to reinvest. If you hand-reg a name for $10, then sell it for $35, the profit is $25, thats provided you can sell it in the first year before the renewal comes along, which most of the time doesnt happenm because most new domainers doing usually do outbound, they hand-reg a name and put a "For Sale" on it and think it will sell for x,xxx?? Domaining doesnt work like that.

Try hand-regging a name and selling it for a decent amount in the first year. Its not that easy. Just advice after seeing it happen over and over again on Namepros.

Got your point. According to the newbie's Mindset

 

[Future Sensors]

I agree with all that's been said by @gilescoley but also think you can learn a lot from making your own mistakes in the beginning, even if you're losing some money. But you have to make progress fast, otherwise you will never make any profit at all.

Quote by Thomas John Watson Sr., IBM: “Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. “No”, I replied. “I just spent $600,000 training him – why would I want somebody to hire his experience?”

 

[gilescoley]

I agree with all that's been said by @gilescoley but also think you can learn a lot from making your own mistakes in the beginning, even if you're losing some money. But you have to make progress fast, otherwise you will never make any profit at all.

Quote by Thomas John Watson Sr., IBM: “Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. “No”, I replied. “I just spent $600,000 training him – why would I want somebody to hire his experience?”

Totally agree, we all lost money at the start and we all learn from that. I guess I am trying to help limit those losses while learning. Don't go out and buy 100 or 200 names thinking you will sell them all or even half of them, you wont. Thats why you play a low risk game by starting off by buying 5 or fewer names, and try and sell them before reinvesting. If you cant sell them, work out what you are doing wrong before buying more names.

 

[Future Sensors]

Totally agree, we all lost money at the start and we all learn from that. I guess I am trying to help limit those losses while learning. Don't go out and buy 100 or 200 names thinking you will sell them all or even half of them, you wont. Thats why you play a low risk game by starting off by buying 5 or fewer names, and try and sell them before reinvesting. If you cant sell them, what you are doing wrong before buying more names.

Indeed

To all new domainers: The Bank Always Wins.

(you may replace 'Bank' with 'Registrars', 'Registries', and 'Marketplaces' here, since they are the ones making the most profit in this industry)

 

[MustaAras]

Better to spend first 2-3 weeks just read and track on this platform before taking any serious actions. As a newbie i have regret to not do that

Good luck with you !

Olcayto

 

[TauseefKhan]

Hunt down smart domain names. https://tldjournal.com/tips/choose-smart-domain-names

 

[slader23]

Welcome @Matthew Wellington!

Advice to newbies: Study, study and study!

Best place to list domains? Everywhere i.e Dan, Sedo, Afternic, Uniregistry.

Valuations: As you learn and experience domaining you will build your own set of specific criteria to value domains. Your goal for now should be to find 10 data points that you believe are critical to domain value (do this yourself) by reading and researching domain sales. Use these 10 criteria as a foundation for every purchase and continue to add to those criteria/evolve them to suite specific domain niches as you grow your breadth of knowledge. It's all about being consistent in your approach.


Take your time. Domaining is a marathon not a sprint.

 

[xynames]

Halloa.

 

[Zilla]

Welcome...find your own way....your learning curve, your pocket, your skill of emotion control, your skill of budgeting control, your skill of negotiation, your overall knowledge, your language skill, your sense of New trends, your style and taste, will define your own way of domaining...good luck...

 

[Omar.]

 

[LUP]

Hi everyone,

I'm new here and just wanted to introduce myself. I'm new to domaining (in that I own 20-30 domains but haven't sold any yet).

Question for everyone is:

If you could give a newbie one bit of advice, what would it be?

Where is the best place to sell domains? What criteria to buy? To disregard godaddy/estibot valuations completely (or may they have some sustinence to them if considered with logic)?

Thank you everyone!

Welcome to nP!

Slow down, you can read it from this forum.

 

[MHExplorer]

I am newbie as well. Just a couple of years only. Great suggestions have been given to you here. As a newbie, let me tell you that, spending and making mistakes is going to help you more. So don't worry about spending a little bit. I don't agree with some experts who say that only spend once you have knowledge. So my advice would be to go for some hand reg, keeping in mind that they will only teach you that these are the types of domains you want to avoid. I also stayed with .com only after getting suggestions from here and now after two years of starting, i have started playing with .org. It takes time to understand so many things.

Best of luck.

 

[Bertrell]

Welcome!

 

[FolioTeam]

Better to spend first 2-3 weeks just read and track on this platform before taking any serious actions. As a newbie i have regret to not do that

Good luck with you !

Olcayto

More like 2 to 3 months

 

[Bob Hawkes]

Start slow, be patient, do the research, make the very best effort to find a value for a domain name you are considering (no one knows precisely) and don't overpay for it. Avoid over-simplified rules. Have fun.

OK that is more than one!

Welcome to NamePros @Matthew Wellington I am sure you will find this community of great value. We look forward to your contributions, and this thread, with all the replies it generated, is an excellent contribution you started.

Best wishes for success.

Bob

 

[Oskar P]

I don't want to discourage you, but domaining is very hard. It can take years to master. For beginners it's much easier to make profits in crypto. With little prior experience I doubled my portfolio in a few months.

 

[matt3214]

Hello, welcome.

You can read this thread: https://www.namepros.com/threads/popular-beginner-resources.844937/ . That's a lot of important information you'll need

 

[Samuel Adebo]

Welcome to the Great NP Family @Matthew Wellington

The domain industry is very vast and requires lots of research and patience to be productive in the space.

I'll suggest you go through Domain Graduate Handbook to get additional information to your library on domaining. You can get the handbook on Domaingraduate.com. it's free.

Cheers

 

[iAdam]

Welcome to NP

You are in the right place.

There's almost everything you might need to know in NamePros, read and search.

Good luck