discuss Is your domaining business scalable or are you just lucky?

[abstractdomainer]

Just wondering if you think your sales are a matter of good investment strategy and you should be able to scale again, if you start from scratch

or

do you think that a lot of it is luck?

I am still in the second category and believe that there is a long way to go!

 

[bmugford]

You can't really build a business on lucky sales.

Sure, you might make an outlier sale here or there but anyone who has been making steady sales for years is doing something right.

Brad

 

[AbdulBasit.com]

Luck is nothing but all the hard work I've put in place for years to make sales happen on a consistent basis.

 

[Bname.com]

Need good luck and good name

 

[Nikhil Jain]

I believe that what we call "Luck" is nothing but a process set in place.
Even our first sale, or the second sale, or the forthcoming ones happen because we learnt something and followed some set process.

When we realised that that process started giving results once, twice and so on, we started repeating the process again and again, which is called Scaling Up.

The more we repeat the same process over time, the greater we see the results following on a consistent basis.

In short, there is no Luck, rather just learning, implementing, analyzing and repeating. (PROCESS).

 

[Future Sensors]

You can't really build a business on lucky sales.

Sure, you might make an outlier sale here or there but anyone who has been making steady sales for years is doing something right.

 

[bmugford]

Show attachment 261266

I have known several people who made a "lucky" sale early in their domain investment journey.

The problem is if you don't have the required skills and experience, you are likely just to take the money and waste it. It can also skew your expectations when it comes to how easy it is going to be.

Brad

 

[Kyle Tully]

I have known several people who made a "lucky" sale early in their domain investment journey.

The problem is if you don't have the required skills and experience, you are likely just to take the money and waste it. It can also skew your expectations when it comes to how easy it is going to be.

Brad

Yeah an early lucky sale can go either way...

If it truely was luck then it might set you off on the wrong path thinking you know what you're doing and then wasting the proceeds from that sale on names with little chance of selling.

But if you really do know what you're doing then an early sale or two can accelerate your progress using house money.

Like many things in life, luck plays a bigger part in your success than many realise or want to give credit. When things don't go our way "it's the economy" or "the market is slow" but when they do it's "I'm a genius".

 

[Future Sensors]

Yeah an early lucky sale can go either way...

If it truely was luck then it might set you off on the wrong path thinking you know what you're doing and then wasting the proceeds from that sale on names with little chance of selling.

But if you really do know what you're doing then an early sale or two can accelerate your progress using house money.

Like many things in life, luck plays a bigger part in your success than many realise or want to give credit. When things don't go our way "it's the economy" or "the market is slow" but when they do it's "I'm a genius".

Also, don't underestimate that many people bring their religion into it.

 

[alcy]

the more experience the less luck

 

[korganian]

Don't expect to have any luck. Expect to work hard for a long time. The longer you wait for success, the bigger your success will be. If I had sold my best domains below their value years ago, I would not have the excitement to see their rapid appreciation in value today. Rather I would be kicking myself instead.

 

[anewdomainer]

I think luck is needed in the form of timing and good fortune that someone somewhere needs the exact name that we own.

However, I believe that picking the right names and pricing it realistically to sell has been something I've done right. This creates a system that I can replicate so it doesn't feel so much as 'luck' but instead 'a matter of time until it sells'.

I've gotten some critique from senior members because I 'only' price my names 4-5x what I purchased but they forget the cost of acquiring good names has increased significantly from auctions.

 

[bmugford]

I think luck is needed in the form of timing and good fortune that someone somewhere needs the exact name that we own.

However, I believe that picking the right names and pricing it realistically to sell has been something I've done right. This creates a system that I can replicate so it doesn't feel so much as 'luck' but instead 'a matter of time until it sells'.

Doing something that is repeatable takes a lot of "luck" out of the equation. As does buying the type of domains that have a higher likelihood to sell.

I mean anyone can buy 100 random domains, and who knows, they might sell one.

At some point though when you are on sale number 50, 250, 500, 1000, the "luck" aspect becomes much smaller.

Brad

 

[alcy]

I think luck is needed in the form of timing and good fortune that someone somewhere needs the exact name that we own.

However, I believe that picking the right names and pricing it realistically to sell has been something I've done right. This creates a system that I can replicate so it doesn't feel so much as 'luck' but instead 'a matter of time until it sells'.

I've gotten some critique from senior members because I 'only' price my names 4-5x what I purchased but they forget the cost of acquiring good names has increased significantly from auctions.

no need to price at all. there is make offer also. as I said before it's only luck when u are new. lke with anything in life. lke riding bike at first its luck if u dont fall and with more experience u stop falling and dont need luck not to fall cause u got experience. it's that simple. time and work equals experience ... any success without experience is pure luck.