NameSilo

I quit domaining

Labeled as opinion in General Domain Discussion started by Bongs100, Jun 4, 2018.

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  1. smartwebby

    smartwebby Smart Brand Names VIP ★★★★★★★★★★

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    If everything was about gains then the world is no place for good genuine people and probably there wouldn't be great forums like this or so much of free resources :)

    I feel a USD 100 profit is good technically but you probably got frustrated along the way. To stem the frustration and if you are not a pure domainer (domains being your main business) the solution is to stay invested in domains which are either of inherent value (liquid) or that can be turned into a genuine business by you in your line of expertise. Only if you have the vision to see what a name can become can you stay in this business.

    My learning curve (read as losses) IS huge to me but worth it as I assign it to gaining the knowledge and skills in this new industry when I stepped in. Surprisingly most of my "bad buys" are registered by someone else especially "Huge Domains" :ROFL::ROFL:! That wasn't discouraging but showed me that I did have a knack for picking them up. My strategy quickly evolved into only holding names that I see a clear business model with and/or multiple uses. If I wouldn't spend the type of money I am asking for if I was in the client's place I don't hang on to those names. Being a little ruthless while culling your portfolio is also a needed skill. The one I missed the bus on was doing quick flips... even now... coz it does take effort right? Effort should be put where there is fruition and I don't blame the hundreds who come into this line with shiny eyes and then get disappointed. There are different levels of domaining, know where you stand and handle it (especially your expectations) accordingly :)

    best,
    Anita
     
    Last edited: Jun 11, 2018
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. SheikhOvais

    SheikhOvais Established Member

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    I wouldn't suggest you to quit. In fact, try to evaluate your strategy and see where you went wrong with your domain investing. Making the most out of domains is not a piece of cake these days and it takes knowledge, insight and skills to be successful.

    I have been investing in domains since 2009. I stopped for a while and then restarted in 2014. I am not an active domainer but I also wouldn't call myself a domain flipper (selling domains for fast cash). Instead, I am more like domain investor with long term goals. I intend to invest in domains that I find of quality and for which I can wait till I get the right price. I sold my first domain in 2015 at BrandBucket for $2,595. Sold my second domain via inbound inquiry this year for $15,000. That's right, I have sold only two domains so far but I am happy with the results considering my investment and profit margin. I have a portfolio of just over 100 domains; all dot coms. I have tried outbound for couple of geo domains but never had any success. So I am now more focused on marketing my domains to medium businesses instead of small ones.

    The point of sharing my story is to tell you that if you have the knowledge, skills and insight, and you know what you are doing, you will certainly win; sooner or later. Just be consistent with what you are doing.

    I am not saying that I am an expert domain investor and you should listen to me, just wanted to motivate a fellow member who is near to giving up.

    So my advice to you is, never give up, stand up and keep trying.
     
  3. lock

    lock Traffic.tools VIP

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    Sounds more like you had a go learning lucky was only 40. I have owned thousands of domains. The good thing about lotto is you have had a chance of making a million to one . If you believe it is down to luck then it maybe hard to disprove however like card sharks in casinos there are skilled domainers who know what they are sitting on and know how to negotiate. If you buy second or third best domains you wont be contacted.
     
  4. garptrader

    garptrader Top Member VIP ★★★★★★★★★★

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    Most domain investors are attracted to the perception of easy money. The reality is much different. Today I received word of a sale via Go daddy for a .com domain I registered ten years ago. Sales price less than $500. Given that I have dropped more than 75% of the many domains i have registered, backordered or won in auction over the years, a low $XXX payday does not do much to change things. I will NOT be spending that money to acquire new domains.
     
  5. garptrader

    garptrader Top Member VIP ★★★★★★★★★★

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    Most domain investors are attracted to the perception of easy money. The reality is much different. Today I received word of a sale via Go daddy for a .com domain I registered ten years ago. Sales price less than $500. Given that I have dropped more than 75% of the many domains i have registered, backordered or won in auction over the years, a low $XXX payday does not do much to change things. I will NOT be spending that money to acquire new domains.
     
  6. karmaco

    karmaco Active Member VIP

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    I don’t know why people feel the need to start a thread informing us they have quit. There is a thread like this every few months lately.

    If you give up before the two year mark you didn’t even try at all. First year is a sharp learning curve.

    You sat idley by on a small number of names. Most names don’t sell themselves although the goal is to be able to obtain those kind.

    This business is not for everyone. Not for the faint of heart. You have to be fearless. You have to be a dogged shark constantly reevaluating the scene the trends and your names. If you stop moving you will miss something that could be important.

    I sometimes think the most successful in this are 100 percent addicted to domaining and are outgoing, aggressive, nervy and confident. The typical nice guy? Not so much. An introvert will get stomped on unless that introvert bought a bunch of dictionary words back in the day. 😂
     
  7. MS-Domains

    MS-Domains Established Member

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    If you're spending crazy money on rubbish, then what you need to do is stop. Heed some of the advice in this thread, reevaluate strategies etc...

    Quitting is always good, when what you want to quit is something that is actually bad for you.

    Don't quit, don't stress out.. Domaining isn't that bad. You never know how close you could be to success.
     
  8. PapaTama

    PapaTama Restricted

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    I want to quit as well but not now, I still believe this is the learning stage and it does not allow me to earn much profit
     
  9. cronaldo

    cronaldo Account Closed

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    You don't need to quit domaining. You just need to buy good domains.
     
  10. Bongs100

    Bongs100 Established Member

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    Just so that people who are entering the domaining business can see how other domainers did in the past and know what they are getting themselves into. Reporting good news only can result in some investors having unrealistic expectations.
     
  11. Bongs100

    Bongs100 Established Member

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    Thank you all for your comments!

    I forgot to mention that last year I turned down an $800 offer from a large company. Unfortunately they later threatened me with legal action and got the domain for free:( Also, recently, I rejected two $100 offers for domains that I'm hoping to sell for more. So if I hadn't been greedy I would have made $1400 by now (about $1100 profit). I usually register recently expired domains or any nice names that come to my mind. No specific niche. Some people asked me to list some of my domains but I would prefer not to. I don't want them to be associated with this thread on Google as that might affect my future sales.

    After reading all your comments, I feel motivated! I will return in the near future, with a bigger budget and a better strategy.
     
  12. john_karr

    john_karr Established Member ★★★★★★★★★★

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    Did you give this company the domain name for free? Did you receive a UDRP from this company?



    QUOTE="Bongs100, post: 6762991, member: 989841"]Thank you all for your comments!

    I forgot to mention that last year I turned down an $800 offer from a large company. Unfortunately they later threatened me with legal action and got the domain for free:( Also, recently, I rejected two $100 offers for domains that I'm hoping to sell for more. So if I hadn't been greedy I would have made $1400 by now (about $1100 profit). I usually register recently expired domains or any nice names that come to my mind. No specific niche. Some people asked me to list some of my domains but I would prefer not to. I don't want them to be associated with this thread on Google as that might affect my future sales.

    After reading all your comments, I feel motivated! I will return in the near future, with a bigger budget and a better strategy.[/QUOTE]
     
  13. Bongs100

    Bongs100 Established Member

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    I received a UDRP. The company's stupid lawyers told me to transfer the domain to their client (which has a revenue of $24 billion) or they would proceed with legal action, and I would have to pay the legal fees if I lost. I knew I was going to lose so I didn't even try to fight it.
     
  14. BrandMart

    BrandMart DomainBugle.com VIP

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    Good luck for your future endevours .
     
  15. karmaco

    karmaco Active Member VIP

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    I guess I just thought it’s a given that a percentage of people who try this give up fail and slink off into the night just like in any business undertaking. What I am concerned about is people starting threads like this for people to say oh no don’t go aka attention seekers.
     
  16. john_karr

    john_karr Established Member ★★★★★★★★★★

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    Did this company have a Trademark on the domain name when they contacted you?


     
  17. miklcct

    miklcct Established Member

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    If I buy a good domain and can't flip it within a month then the money is locked and I can't do anything. If it takes year to sell I would rather invest the money in a high-growing NASDAQ stock on leverage instead because I can get money whenever I need to.

    If you have a large amount of domains, then the renewal costs will become a heavy burden on you if they can't sell fast. There is a time cost holding domains, unlike holding stocks, gold, etc.
     
  18. Bongs100

    Bongs100 Established Member

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    Unfortunately yes they did have a trademark which was registered over ten years ago. I couldn't find it on the trademarks database because it had "The" in brackets after the name. I only found it when the lawyers sent me the trademark number. I wanted $2000 for the domain but if the company had informed me that the name was trademarked when they made the $800 offer I would have accepted it immediately.
     
  19. john_karr

    john_karr Established Member ★★★★★★★★★★

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    Ok, you live and learn man. Before you register or buy a domain name make sure there isn't any TM.
     
  20. Kpett

    Kpett Established Member

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    The above is a short-sighted approach. Fast flips is not where the real money is in domaining. Sure, you can get lucky now and then, but it only takes one huge sale to fund all of your renewals. Therefore, if you do your research and instead of buying a new or expired domain, spend a little more investing on a domain in a marketplace, you stand a better chance at making a profit on each and every domain name you buy ... knowing that some may take years to find the right buyer.

    Good luck!
     
  21. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    Thank you for the OP @Bongs100 and I feel that posts like this, and the resulting discussion, are important in helping those considering entering domain investing. A sign of being truly smart is to ask ourselves if something is right for us, rather than just continuing.

    I think that in order to continue in domain investing any of us should honestly be able to answer yes to at least one of the following (hopefully more):
    • Am I making a positive return on domain investment?
    • Do I enjoy the business of buying, promoting and selling domain names?
    • Am I becoming more educated in domain name issues, and do I feel that my expertise will help me be more successful in the future?
    • Am I in domain name investing because I see positive changes I can help facilitate in the domain industry?
    Have a good day everyone!
     
  22. cogger

    cogger Established Member ★★★★★★★★★★

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    My I suggest try and develop your better ones, then sell.
     
  23. john_karr

    john_karr Established Member ★★★★★★★★★★

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    Cogger is right. Develop your best domain name. Try google ads or lead generation.


     
  24. toughdomains

    toughdomains Upgraded Member Gold Account VIP

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    So is Domaining is dead?.
    no future companies will ever need a name ever again?..
    .this says only 170 mil names new deleted or transfered in one day....
    https://www.domainstate/dns-changes.html
     
  25. lolwarrior

    lolwarrior Founder, Brands.International VIP

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    Patience is the name of the game. If you do not have it, it is better you quit. You can play the lotto instead, you might get instant gratification there :)
     

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