NameSilo

Just laid off - thinking about selling names for a living

Labeled as discuss in General Domain Discussion, started by uglydork, Jun 22, 2017

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  1. uglydork

    uglydork Top Contributor VIP

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    3rd layoff in 7 years - sick of working for other people. I have had some success doing this - contemplating doing this for a living. May just start and see how I do for a while job hunting. Ugh
     
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  2. ezee

    ezee Mo VIP

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    Sorry To Hear that ,I wish you all the success with a Job and also domaining :xf.smile:
     
  3. WhoaDomain.com

    WhoaDomain.com WhoaDomain.com VIP Gold Account

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    Chin up buddy! Something better always comes along.

    You have some great domains too. So you should be alright.

    Call it an impromptu summer vacation unscheduled but still welcome.

    Best time to get laid off instead of dreary winter and holidays.

    Best of luck friend!
     
    Last edited: Jun 22, 2017
  4. ProDomanico

    ProDomanico Established Member

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    oh man thats just bad to hear ? Do you work for Tech or something
    If you can get along for few days, without selling names.. that would be great..

    You will have good time soon.... its just time that answers everything... God bless!!
     
  5. capiche

    capiche Top Contributor VIP ★★★★★★★★★★

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    Everything will be fine. Don't see it as a setback, see it as an opportunity.
     
  6. WeSell-Domains

    WeSell-Domains Top Contributor VIP

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    Sorry to hear about your job I know how that feels. Good Luck on your new career! It's a lot more fun working for yourself. I know about that too!
     
  7. JayT

    JayT Restricted (85-100%)

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    Depends how much $ you have for startup and your expenses!
     
  8. Mister Funsky

    Mister Funsky Top Contributor VIP

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    Sorry to hear...hopefully there will be some sort of severance and/or unemployment to hold you for a while. Every morning you wake up is a new opportunity so do your best to stay positive...best wishes.
     
  9. 888domainsale

    888domainsale Established Member

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    Sorry to hear about your job loss. Hope you find a stable job soon.

    Good luck!
     
  10. offthehandle

    offthehandle . VIP

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    Self Employment is the best investment you can make. Period. You control your time, your destiny and call all the shots. Sure its stressful and cyclical, but well worth the price imho.

    I was forced to go out on my own to avoid relocating for a industry downsizing and similar situation and looking back with absolutely no regrets and retired very early. I did a variety of things consulting, training, trading, mfg rep, brokering, buying/selling, never borrowed a dime and no financial help other than advice mentors.

    In fact it's way better investing your time on specific skills than than an Ivy League diploma. Go for it!

    One additional thing, if you don't attempt it NOW, you may regret it in the future now you have the opportunity to start your own business.
     
    Last edited: Jun 23, 2017
  11. SirDrago

    SirDrago NAME JEDI VIP ★★★★★★★★★★

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    @uglydork
    What's your trade skill and where you located?
     
  12. Michael M

    Michael M Top Contributor VIP ★★★★★★★★★★

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    @uglydork - Please sit down and do a realistic spreadsheet of your business plan before jumping in.

    Many people lose their ###es at domaining - and I would hate to see you do the same in the situation you are in.

    Only invest what you can afford, for sure - and don't hedge all your bets on one thing. Though, I am not trying to discourage you in any way.

    I wish you the best of luck! I am by no means an expert but feel free to PM me with any questions.

    -Mike
     
  13. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    All the best... It is possible to make a living once you have the essential skills needed, which you apparently have, based on your claimed success.

    My advice is try it for a few months if you can, while doing "career or job search" as a backup plan in case it doesn't work, but do it seriously and with a passion.
     
    Last edited: Jun 23, 2017
  14. baseballworld

    baseballworld Restricted (Market)

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    It is an option but remember the unemployment does come to an end if you don't make any sales.
     
  15. GoKaizen

    GoKaizen Always be Learning VIP ICA Member

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    If you are serious about doing domains FT, get a portfolio and services site up asap. Spend money on a WP designer. SEO the site.

    @Bram C. does it right.

    https://almightydomains.com

    Also setup a company as a LLC or S Corp. Depends on needs and current revenue.
     
  16. mr-x

    mr-x Top Contributor VIP ★★★★★★★★★★

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    Two jobs that are always in demand, Sales and Electricians.
     
  17. SpareDomains

    SpareDomains Jay VIP ★★★★★★★★★★

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    If there is any type of severance or unemployment income that kinda gives ya a cushion to take a stab at it. If things don't go as planned just find another gig before that cuts off. So possibly less stressful with some income coming in over just quitting a job to try something with no income coming in. Good Luck (y)
     
  18. offthehandle

    offthehandle . VIP

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    I saw the almighty website awhile back and forgot to compliment you or him. Your icon is really cool. @Eric Lyon does nice logos and designs btw. Regarding the corps, I don't know how necessary that is for anyone until after getting through start up and you have substantial income and chose to have employees and liabilities. Depends on which state as well. It's real easy to just be a sole proprietor set up a dba bank account to start and costs virtually nothing.
     
  19. offthehandle

    offthehandle . VIP

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    Yep, Sales is mandatory for self employment, if you don't intend to do that it is a really bumpy road. I have seen so many semi successful stories or failures usually they were starving as talented engineers and managers who disliked that part. Essential to success is being able to pick up the phone and contact complete strangers, cold calling, etc.
     
  20. mr-x

    mr-x Top Contributor VIP ★★★★★★★★★★

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    Fortunately, there are people who will do it for money ;) Being a jack of all trades gets old.
     
  21. maksimfa

    maksimfa Top Contributor VIP Trusted Contest Holder

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    I disagree slightly.

    You NEED to be able to pick up the phone and do the calls yourself. Then you can hire people and tell them what you want and how. Otherwise you are just wasting money. Yes, there will be results, but you may not like how.

    For general prospecting... sure you can hire a telemarketing company to read a script... but you need to write an effective one.

    More importantly, you cannot allow someone who has no vested interest in making a sale or keeping the customer long term... to negotiate the sale.
     
  22. DnEbook

    DnEbook DataGlasses.Com VIP ★★★★★★★★★★

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    Stock up on two minute noodles I suggest
     
  23. offthehandle

    offthehandle . VIP

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    Thats me, Thats true as with working 6-7 days and 12 hrs for years, but life was more fun doing everything except the accounting. I used to look at my watch on Friday at 6pm, smile and say... "damn, where did the week go!" We all need to know our limitations, for me having employees was out. Some of us like me are born as individual interest or individual sport people. Employees are like wanting to play a team sport, you need to want to play on a team. Making money isn't some democratic process either, I had a successful boss who sold his company to a Fortune 100 entity. He was a benevolent dictator. I walked out and never regretted the day I quit.

    Independent sales reps who are responsible for their own insurance, time mgmt and had their own customer bases is how I handled it, had 20. Worked well.
     
  24. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Didn't you just flip a high 4 figure purchase for 6 figures? I would call that a 1 year vacation to think your future thru. To make it in domaining day in, and day out, right now you need a large aged portfolio, sometimes even the best names take years to sell, so monthly income will not be stable unless your portfolio is vast, or you hustle in, and out everyday.
     
  25. uglydork

    uglydork Top Contributor VIP

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    I am a service desk manager in IT - Buffalo NY
    ITIL certified -
     

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