poll Is domaining work?

[Internet.Domains]

Is domaining work?

Watching some pre-season football (American) I witnessed an interview with legendary multi-Super Bowl champion coach Bill Belichick.

Coach Belichick is known for putting hard hours into his work. There is no doubt he works hard.

Coach Belicheck was recently asked, "are you having fun?"

He answered, "it's a tough business, but it beats working." He went on to answer that he doesn't call it "work."

So one of the hardest working, most dedicated, most successful coaches of all time doesn't call it work?

Is domaining work?


(Full disclosure: I am a Rams fan)

 

[frank-germany]

None of us are waking up saying ugh I have to go sell domains.

mmhm... I do

 

[DomainsMaven]

According to my ex girlfriend this isnt a real job. So I guess this is a hobby

No wonder she is ex now. LOL

 

[FavourB]

No wonder she is ex now. LOL

 

[biggie]

you reap what you sow

imo...

 

[wakguano]

It does not work for me ... Bye bye np

 

[FavourB]

It does not work for me ... Bye bye np

What does not work for you?
Domaining as a whole
Or it being referred to as work?

 

[NameJi]

Like any business, one should take a huge risk, maintain cash flow and passion for learning & research. One should intelligent enough to spot the right horse and hold on tight.

You need high ticket closing and sales skills. Not food for everyone, but it works.

 

[ivbran]

It's work if you make money from it. If you are buying crap and loosing money it's pure wasting time and money.

 

[Bob Hawkes]

So just over 70% who have voted so far say it is work. I think you are probably, in general, more successful at it if you view it as work, but I still feel it is totally OK that domaining also has a lot of people who are in it just because they find it interesting. Most sports are in some senses work, but excluding professional athletes, one can be in sports without it being considered work.

I think we need a companion thread with the title "Is domaining fun?"

Bob

 

[FavourB]

So just over 70% who have voted so far say it is work. I think you are probably, in general, more successful at it if you view it as work, but I still feel it is totally OK that domaining also has a lot of people who are in it just because they find it interesting. Most sports are in some senses work, but excluding professional athletes, one can be in sports without it being considered work.

I think we need a companion thread with the title "Is domaining fun?"

Bob

Domaining is far from fun o
Am not even smiling again in these industry
Jaws are tight
It is a serious business
Nothing like quick money here so it can't be fun
For you to make profit in these business you must I mean must yes must there must be a certain level of commitment, you will have to read, you have to learn and follow trend, you must have a good marketing skills too and overall you must be patient, does this look like fun?

You can go through SH and see lots of brandable the competition is very fierce just like any other industry, so it can't be seen as fun.

Probably people that will see it at fun, are those that don't really take it serious
As for me I do and it hasn't been funny

 

[frank-germany]

Domaining is far from fun o
Am not even smiling again in these industry
Jaws are tight
It is a serious business
Nothing like quick money here so it can't be fun
For you to make profit in these business you must I mean must yes must there must be a certain level of commitment, you will have to read, you have to learn and follow trend, you must have a good marketing skills too and overall you must be patient, does this look like fun?

You can go through SH and see lots of brandable the competition is very fierce just like any other industry, so it can't be seen as fun.

Probably people that will see it at fun, are those that don't really take it serious
As for me I do and it hasn't been funny

poor guy .. I feel pity for you
-just joking-

learn to enjoy
whatever you do

then it will be fun

 

[Bob Hawkes]

Nothing like quick money here so it can't be fun

Thank you for your well written and logical response. But with respect to the small part I quoted, surely lots of things in life have no quick money, or even no money at all, require dedication and work, but are still fun in some meanings of that word? I think it depends on your goals. If you are in it to make money, that is one thing, but if you are in it to express creativity, contribute to new ways to do things, or just to challenge yourself, that can be very different.

I totally understand that for some this is their livelihood, and as I said in my first post in the thread they should view it as work, have a business plan, set goals, measure metrics of how they are doing, etc.

But I also firmly believe that there should be a place in domaining for those who while probably hoping to at least make a little bit of money do it mainly because they find it interesting and challenging. The same reason people climb mountains, train for marathons, collect various objects, make art, write poetry, become expert at a craft, etc.

Bob

 

[FavourB]

Thank you for your well written and logical response. But with respect to the small part I quoted, surely lots of things in life have no quick money, or even no money at all, require dedication and work, but are still fun in some meanings of that word? I think it depends on your goals. If you are in it to make money, that is one thing, but if you are in it to express creativity, contribute to new ways to do things, or just to challenge yourself, that can be very different.

I totally understand that for some this is their livelihood, and as I said in my first post in the thread they should view it as work, have a business plan, set goals, measure metrics of how they are doing, etc.

But I also firmly believe that there should be a place in domaining for those who while probably hoping to at least make a little bit of money do it mainly because they find it interesting and challenging. The same reason people climb mountains, train for marathons, collect various objects, make art, write poetry, become expert at a craft, etc.

Bob

You nailed it!!
Maybe I will see it from a different angle the angle of taking it as a challenge
I like that

 

[fiftyfrancs]

I dropped a j-o-b for this, from my computer stats I spend an average of 87 hours online a week (strictly studying and researching domaining), I picture a luxurious future every day in this which has even boosted my high hopes in life, I wake to pray that God leads me on this and plus I'm planning to invest a huge sum here soon.... nobody calls that a hobby, at least not me!

 

[ksusha64]

Domaining works!

 

[hn]

For me domaining has not worked. I think the "high price" sales which we see are usually the top well connected domainers. Individually I have tired selling many domains, individually as wholesale lots but people seem to want it almost at reg fee. And majority of my domains are 2 word domains (which have meaning and useful). In the last 10 years from my lot of around 100 domains - I have been able to sell just 3. Price of sale has been low 4 figure around 1k. But would I invest more into domaining - well based on my experience no. And my reasons?

1. Other investment options are better, give stable returns and there are known ways to know rough estimates based on past performance.
With domaining you have no clarity what a domain may fetch. Each year we need to keep renewing domains. So for 100 domains you are spending around 1k a year. So after 10 years thats 10k spent! And from 3 domain sales sales around 2.5k so still need to earn atleast 8k just to get back investments. And we are not talking of any interest loss in these last 10 years or had we invested in some other option. Say I had invested this money in stocks or gold or even banks - money would have easily doubled to trebled and there is an easy exit because atleast you get spot rates on those days. With domains you dont have an exit unless you drop it.

2. Major issue with domain prices
There is no rule book that say if we invest in X type of domains you can get say Y returns YoY. I see it more like a slot machine. You put money. Either you win or you lose, in all these years cant think that its some kind of investment option. Its more like gambling.

3. Almost Zero Liquidity.
With other forms of investment you have liquidity. Like if you have gold you can go sell it and get spot rates. If you have stocks you can sell it and get instant exit. With domains I cant think there is any liquidity. On top of that each year we need to keep renewing domains with a hope someone will buy it one day.

And not that I am pessimistic I am still optimistic that I will definitely get a lot from my domain investments but as of now based on my last decade in this hobby, I can say that it has not given me any returns, and actually it has only caused income outflow from other investments. So may be if I can sell a few domains then I could change my mind but the above are my thoughts.

 

[FavourB]

If in 10years you could only sell 3 then is not working out so well for you.

But something is telling me you might be getting good offers but you don't agree unless it hits your target.

All I do here is try to gain, once am able to gain 60% of my ROI on any domain then am good to Go, am pretty sure one day a greater ROI will come.
But to keep the cash flow I ball low once I get 60% of my ROI by doing these I have profited,
In a portfolio of just 22 names I have sold out 4 and is not been up to a year I got into these business

 

[bojan1]

I love domaining... I am in love with domaining since the first time I met this job or hobby or whatever we call it. Only few people understand it ... and really a few things can compare for me with a feeling of investing in and selling a domain name

 

[hn]

If in 10years you could only sell 3 then is not working out so well for you.

But something is telling me you might be getting good offers but you don't agree unless it hits your target.

No whenever I got an offer it has usually resulted in a sale. Also when I put domains out on wholesale (say lot of 40-50 domains) my pricing is usually mid to high $$ and from what I have understood usually domainers look for $ or reg fees saying we are giving you wholesale prices! I dont get it. For me you are my end user whatever you may do with the domain. As you are taking a risk with entire portfolios I am willing to give a bulk deal, but when you expect reg fees or lower saying you are wholesaler and expect reseller rates I simply pass such offers.
So now the next question usually is your domains may then have zero value, they will not pass radio test, they will not be grammatically correct or may not be dictionary words. But just to point out - almost 95% of the domains are 2 word domains which make sense.
Then comes the question of age saying ok your domains may be newly registered so if till date no one picked it up its because it has no value! So here I think around 90% of my domains have age of 10years +
So finally the question would be what would estibot or godaddy appraisal value the domains at (though according to me these appraisals dont make sense as according to me the price of a domain is equal to what someone is willing to pay for it! - most domains which I hold according to gd or estibot have an appraisal value of low to mid 4 figure (mostly 1000-1500+) on majority of my domains.

So when I check similar domain name sales and understand that its domainers who are well connected get good sales. Having a good domain is not important - having good marketing skills and connections helps close domain sales according to me.

 

[richasis]

Work generates an income. Most domainers are just spending money.

Read: "Hobby".