How dangerous is it? I say very!

[jacal1]

I think that these boards are unbelievably helpful if you know what you are doing. I can't belive how much helpful info I can get here, and its probably doubled my ROI literally. A wholehearted thanks to NP.

That said, these boards can also be dangerous. There are few voices of dissent, or at least devil's advocates. We all want to make money and be sucessful so badly we sometimes enjoy agreeing with each other when we have similar domains or strategies. If I chose to reg "crapiest-domain-ever.com" and someone posts "what do you think of "crapiest-domain-of-all.com", what do I say? "Great domain!!"

Some of you LLLLers know that I have been vocal about the fact that I think the bottom 10-12K LLLLs will have very poor ROI on average over time. Its not my point to have a thread debating that though. My point is that my dissent is now lost in a sea of everyone encouraging one another to buy some remaining LLLLs.

In this example, if you know what you are doing, you know what your business plan is. However, if you are relatively new and come to NP, I think you could be tempted to buy a bunch of LLLLs in a sort of get-rich-quick idea after browing the board. (I've seen people with less than 50 posts say things like "I just regged wvxr and I think it will sell to Xray techs in West Virginia")

The LLLL thing is just an example. Again I'm not looking to debate that. I'm just commenting on the "dangerous" nature of these boards. Its almost like we should all find one person with an MBA or advertising degree who thinks domain investing is not worth it and encourage them to post as long as they agree to be thoughtful and do their homework. Okay, that's not possible I'm sure, but you get my point?

Thoughts?

(Feel free to dissent or play devil's advocate )

 

[-NC-]

Its not my point to have a thread debating that though. My point is that my dissent is now lost in a sea... ...The LLLL thing is just an example. Again I'm not looking to debate that.

And the topic has become.....

 

[.X.]

NamePros is with out a doubt , the best place to learn some do's and dont's in this industry. The domain industry is no different than any other, people will make mistakes while learning the industry, those mistakes will cost the investor money.

A trend i have seen in the last year or two, the vast majority of new domainers come into the industry wanting to make money right away. With little to no experience. so they are setting themselves up, to take losses on the domain investments.

It is how hard a person is willing to work, is to how successful they will be, that in any thing we do , in my opinion. Being motivated and eager, isn't enough to come into this industry and start making money immediately, You must have contacts in this industry, to obtain those contacts, you can not push your way in, you have to earn it. "It's not what you know, It is who you know" can be a large a asset to any domainer, but is especially important to some one who is new to this industry.

LLLL.coms are a good investment, But ONLY if they are mid to high level domains, So following "Domainer Trends" isn't the best way to go, And that is where i have seen many domainers loose money on their investment. I have seen these trends come and go, LLN.com's , LLLL.coms , the ever popular CVVC and ect .coms, End users don't have a clue, and could care less if a person has a 1000 CVVC.coms, because if they do not have the correct four letters, that the end user needs, It doesn't matter.

The best approach to take in the industry, In my opinion, read - read - read these forums, go as far back as you can, Take the knowledge you receive and put it to work for your self, Find your own niche, and began building your portfolio, Do not come into this industry with dollars signs in your head, take it one step at a time and have patience.

Do not ever rely on any appraisal , be it from the appraisal forum, automated appraisal or ect. do your own appraisals based on the facts of the domain name.

The forums job is to promote healthy discussion - Having different opinions is always a good thing - calling someone a name for disagreeing with you is downright childish.

Very Well Said....Spade