opinion I quit domaining

[Bongs100]

Domaining is almost the same as playing lotto. I quit.

Year started domaining: 2016
Number of domains registered: about 40
Total spent on domains: +- $300
Number of domains sold: 1 (in 2017)
Total amount made in 2 years: $400
Profit: $100

 

[karmaco]

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.

 

[BRANDERX]

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.

 

[LUP]

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

 

[cronaldo]

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

 

[Bongs100]

I don’t know why people feel the need to start a thread informing us they have quit

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.

 

[Bongs100]

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.

 

[john_karr]

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]

 

[Bongs100]

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

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.

 

[BrandMart]

Good luck for your future endevours .

 

[karmaco]

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.

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.

 

[john_karr]

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

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.

 

[miklcct]

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

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.

 

[Bongs100]

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

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.

 

[john_karr]

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

 

[Kpett]

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.

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!

 

[Bob Hawkes]

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!

 

[cogger]

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

 

[john_karr]

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

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

 

[toughdomains]

Domaining is almost the same as playing lotto. I quit.

Year started domaining: 2016
Number of domains registered: about 40
Total spent on domains: +- $300
Number of domains sold: 1 (in 2017)
Total amount made in 2 years: $400
Profit: $100

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.com/dns-changes.html

 

[Brands.International]

Domaining is almost the same as playing lotto. I quit.

Year started domaining: 2016
Number of domains registered: about 40
Total spent on domains: +- $300
Number of domains sold: 1 (in 2017)
Total amount made in 2 years: $400
Profit: $100

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