Labeled as discuss in General Domain Discussion, started by ReallyBigIdea.com, Apr 28, 2021
Design is not critical.
Even Bodis is enough if domain is good.
Shoud I drop the domain business? am I on the wrong way? because I spending too much time on domaining but it's not profitable for me - making money and spending them to renewals are not profitable business...bad business model.
I am not a crypto trader neither stock investor but found that people who moved to cryptos like btc, doge and stocks like gamestop or tesla make millions.. everyday I reading the news such as
Dogecoin investor says he became a millionaire in 2 months after Elon Musk inspired him to pile into the meme currency
90%+ drop it within 1 or 2 years.
And only very minority becomes a PRO.
I tried Afternic landers no stats, no info about visitors and buyer requests, not loading for Russian buyers and Ukrainians without vpn.
I like the DAN design and usability but sometimes i got the error "oops something went wring etc" as a domain visitor. it hurts the sales.
Some platforms has issues with Chinese, Russian, HK, visitors. Google is worldwide with 100% uptime. I have deep stats, it helps me understand about the interest rates thats why I choose an independent platform. I have a WordPress hosting in UK with dedicated IP but Google works much better and faster. I have massive traffic from US and HK.
You only hear about the success stories, everyone pumping every "investment" like they are Warren Buffet.
There are a limited amount of people who just fall ass backwards into a fortune. You don't hear about the majority that lose money in the fields.
There is a lot dumb money chasing every overhyped asset at the moment. You might get rich doing it, but I personally don't invest based on the greater fool theory.
Some of these coins like Safemoon are literally a pyramid scheme that was created a few weeks ago so people could hype it on social media and leave others holding the bag.
Domaining is certainly not a get rich quick business, if that is your expectation.
Sounds like you suffer from the propaganda noise that domaining is easy money. If it is it is not a heck of a lot. Domaining is a great business because it allows you to work from anywhere and decide how much you want to invest in terms of time and money. However, if you want to make it a significant source of income, you need to invest time to learn, and be ready to lose money, at least at the early stages.
You can quit domaining and go into another business. But it won't make things easier. You will still have to work just as hard or harder with any venture you undertake. I read somewhere that most people quit just before they make a breakthrough. It can be that domaining is not for you. Only you can decide that. No one can make that decision for you. It is not a fair question.
Losing money on bad domains can be chalked up to money you spent on learning. As long as you learn.
May be you spent too much time to learn too much about something that will not benefit you.
I am simple and don't care about EMD, exact match, appraisal, and all other nonsense statistical information.
I buy the name if it makes sense to me and I can find buyer to use it for a website.
You only have one buyer for one name.
And also stay away from specific niche ̣̣̣(bitcoin, NFT or Geo), mispelled....
This will make your life easier. Also cheap names are not good and good names are not cheap.
I normally buy names here and sell them somewhere else.
To be more clear - the purpose (how much attention <> engage-able)
One of my employees spotted an empty cyberspace in .com and reg.: Micro Self Care and Dual Escrow. Nothing big or maybe?
Not reg. in any other extension,
no potential end-users,
CPC is +,
... but both domains can be a great way to hook the attention of the target audience - in Health & Crypto/FinTech sector.
Once I own that particular cyberspace (2x $7) and before I start to think about anything related to sales, I have to dig deeper and learn more about the niche / sector, business culture, cashflow, etc - 5W - what, why, where, when, who.
& I have to be ready to give up anytime and without getting my 2x $7 back.
I always try and emphasize that the domain industry has many streams of revenue .. most have to find which niche or niches within the industry they are able to have success in .. if you have lost interest ... you either need to stop for now and resume domaining at a later time ... or walk away and be done with domaining .... in my opinion.
My friend, I suffer from the same thing right now. I have about 260 domains that I registered in about 2 or 3 months.
But I am determined to make this work a primary source of income for me.
Since joining this forum, I have reduced my purchases and started to learn more, although I have not improved yet, but I feel that I am on the right path now.
I wish you good luck and everyone who reads my response
It's a bad time right now; and it is depressing for you - which is normal.
You invested a lot (time and effort). How about relaxing for a while and simply letting those sales in. That's what I do when I feel the same (have my moments). BTW I very much believe in law of attraction, and not by simple "belief" but because my entire life was yelling it at me. If only I could stick to this method more often (I forget it then always re-discover it). Anyway, back to the point.
When I have a bad stream of no sales, I check if something I did wrong. Maybe I messed up prices. Or landers. Anyway. If not, I just do the above method. Next day, sales pop in.
Your portfolio is still very small. You can't tell by what you did so far. I have days often when I buy or liquidate more (than your entire portfolio) - and not necessarily straight hand regs. Anyway domaining takes time and not a quick rich method. But by all means, it can be a wonderful and lucrative field if you do it right.
I've started 2-3 years ago and been killing at it. On fast track to mid-6 fig in a couple years, projections but I have a lifetime of doing that so I know exactly where this is going. Been profitable right after first year. It's just that I know from experience that no business works without an edge. I seek my edge first; and once I identify it I build around it. In domaining, I have more than one edge. See my posts to learn more as to how. You need to find yours.
It's way too early to give up. From what I've seen you seem on the right track. It's just that you get depressed and it's normal in such cases. Market is quite weird right now. Top sales are however booming. Top guys know to keep their chill. And do their research and pinpoint accuracy buys and sales. Edit: Even if they haven't sold any in several months. Keeping chill is part of the business.
You need to take your skill and knowledge to V 2.0. My V1.0 was similar; but I did not expect else. One cannot win from the first draw. You need to learn the game first. It's called mastery, and it usually needs in the range of at least half a decade. Or more.
Momentary suggestion, try reducing prices a notch. Not a ton though. If something sells, you'll feel better. Pricing is fluid and a smaller price might get some customers which on the short run can be better. A $200 sale for example can cover quite some renewals for you. The good ones.
Good luck and final note: Rome hasn't been built in a day. Or an year. The same is a business. It's an empire and takes many years to build.
I have a large portfolio now that generates steady inquiries and sales, but it has been a grind for years.
Buy - Sell - Reinvest. Rinse and repeat.
I am getting paid now for work I did years ago.
I think the current get rich quick mindset and social media has kind of created a toxic mix when it comes to expectations.
The average person, works an average job, for decades and never gets rich. Money is not normally that easy.
You have to be extremely fortunate and/or take extreme risk to get rich quick. Otherwise it takes a grind.
I understand FOMO can be a powerful thing. Everything looks good in hindsight.
Everyone misses the boat on something. Instead of worrying about that, look for the next boat.
Also my method:
I tried everything out there. Including my own landers. (not anymore)
I simply use Afternic now, and Dan. My Sav domains point at Afternic cause Dan doesn't accept them anymore. Everything else points at Dan.
I also list everything on Sedo. Sedo sells not like Afternic, but constant = profit.
So simply list on Afternic and Sedo would be enough. Dan is not necessary; but it converts lander clients for me better and at a lower cost = personal pick.
Keep your gig simple. It always tries to get more complicated. And it shouldn't. Own landers, different website, other marketplaces, spending too much selling on NP? = LOSS.
Clean up, simplify. Focus. Work less, but smarter.
Each sentence here is gold. Hear, hear.
Well said, Brad. If only everyone else would see it.
My motto is (and I'm sure I am not the first one to say this), if you can't give 100% to a project, don't even bother starting it. I have given up on certain projects because I was too thinly spread and other projects would suffer. Domaining is a unique business because you can let it incubate. As long as you have other source(s) of income. You cannot rush domain sales. If you try, you will be frustrated.
There are different strategies in domain sales. Sell a lot of domains at low profit, like a fresh reg for 20-60 dollars. Or go for major sales from x,xxx to xxx,xxx. In either case, time and work are involved.
But beyond that, you need to develop an eye for names that will make good businesses and brands. That is the key. That is both a skill and an art. The skill comes into play to identify domains that pass the radio test, are short, easy to remember, make sense, yada yada yada. The art comes in play where a domain excites you. Has a lasting emotional impact. Not the kind of spur of the moment reaction. But one that can motivate you to create a business on it and keep motivating you. If you can tap into that then there will be others who will respond the same way to your domains. And that's where the ideal buyers are.
Lots of wise words and advices. I learned something new. Thx NPs
I also have to say that "never give up" is often the worst advice IMO.
Sometimes something just isn't working. There is no shame in giving up and coming up with the better plan.
Everyone is not going to succeed at everything. Failure is part of life and the ability to learn and move past it is a good trait to have.
I'd say "never give up" is too broad of a term. In the words of Albert Einstein, "insanity is doing the same thing over and over again and expecting different results". So you may not want to give up in your goals, but you may need to change the way you get there.
It's not investing because you can't hand-register undesirable names for $8 and sell them for $10?
It sounds like you're gambling, so I think you are correct that what you are doing is not investing.
I think you should slow down. You have some decent names. I looked at your page and I sense desperation in your pricing.
I'm sending you a pm. I want to buy one of your domains right now.
See, you just sold one!
By the way, I noticed your 100% positive trade history...
1 month 6
6 months 22
1 year 22
2 years 22
If you sold 22 domains in the last 6 months, that's not bad at all.
Thank you the most was reseller sales though.
Separate names with a comma.