Make money in domaining, is it hard?

[lizadiaz]

Hi all I am Liza mother of two boys. I learned about domaining because of my friend who suggested. He said that it is easy to make money on domaining. Please tell me if this is true. I joined namepros because I need some tips from other people. Thank you all.

 

[Electric-Shadow]

Hi and welcome to NP!

In all honesty it's not a matter of being easy, it's a matter of trial and error in the early days. It also depends which area of the industry you're going in to, since there are many aspects of domaining.

It's well worth browsing some of the other threads around the forum so you can get a rough idea of what you're interested in. Don't rush ahead with all guns blazing, swearing blind you'll make a tonne because it'll likely only hurt your pride and your wallet. So be sure to do your homework and let all the information sink in! Then read it all again. In particular check out the end user thread in the domain discussion section, a gold mine for newbies.

 

[lizadiaz]

Hi and welcome to NP!

In all honesty it's not a matter of being easy, it's a matter of trial and error in the early days. It also depends which area of the industry you're going in to, since there are many aspects of domaining.

It's well worth browsing some of the other threads around the forum so you can get a rough idea of what you're interested in. Don't rush ahead with all guns blazing, swearing blind you'll make a tonne because it'll likely only hurt your pride and your wallet. So be sure to do your homework and let all the information sink in! Then read it all again. In particular check out the end user thread in the domain discussion section, a gold mine for newbies.

Thank you for the tips!

 

[Theydon]

It is easy. Its easy to throw away money, its easy to get carried away and register poor names, its easy to dream of making bucket loads of money.

In reality it is hard, its hard because it requires patience, dedication and time. Once you have one or two years under your belt it becomes easier and you'll see opportunities to make some money but I wouldn't say it was easy money.

It is enjoyable though and if anyone has the time, dedication and patience I would suggest they look at domaining.

Good luck.

 

[Nerevar]

It takes a lot of time to learn. Like any new profession. And even more time to become good at it. Then, like any other profession, it can bring earnings.

 

[Kate]

Easy money ? Everybody would know.

 

[lizadiaz]

Thank you all for the tips I will try to read many threads as possible.

 

[slimjim270]

Domaining is like cooking...

Some have a knack for it, others burn the toast every time.

-Jim

ps: My suggestion is start small (inexpensive), learn the ropes for 6 months finding your niche, and don't get excited and prematurely buy 100 domains with the boy's college fund. Your 1st step is learn from others. You're off to a good start. Also, the friend who mentions it's easy money... ask him to bankroll your 1st 6 months. Money talks. Watch how fast he stumbles with the response. It's easy to suggest a path, another beast to have the perseverence to be successful and make the journey.

 

[DNVantage]

easy to make money on domaining

@lizadiaz If it was too easy, everyone would do domaining, so I glad it is not too easy

1) Know your niche. ( Can't this emphasize enough )
2) Be patient
3) Read a lot ( at NamePros )
4) Ask a lot ( at NamePros )

I would suggest starting in topic you are already an expert, registering domains in your niche using $1/$2 coupons, go for names someone else will want and not what you may want, unless you plan to build a site yourself also. This is one approach, there are more, like registering brandable names, etc ..... but you want to stick to buying names for really cheap till you get the hang of this. yeah .... and be ready for the after purchase 'what as I thinking'/duh' moments for first few weeks/months

NP is a great community, lot of expertise from long time members, you will get lot of help.

Good luck.

 

[LoneDeranger]

@lizadiaz If it was too easy, everyone would do domaining, so I glad it is not too easy

1) Know your niche. ( Can't this emphasize enough )
2) Be patient
3) Read a lot ( at NamePros )
4) Ask a lot ( at NamePros )

I would suggest starting in topic you are already an expert, registering domains in your niche using $1/$2 coupons, go for names someone else will want and not what you may want, unless you plan to build a site yourself also. This is one approach, there are more, like registering brandable names, etc ..... but you want to stick to buying names for really cheap till you get the hang of this. yeah .... and be ready for the after purchase 'what as I thinking'/duh' moments for first few weeks/months

NP is a great community, lot of expertise from long time members, you will get lot of help.

Good luck.

What do you mean by saying "know your niche"?

 

[DNVantage]

What do you mean by saying "know your niche"?

@LoneDeranger, Initially I used to pick up names based on immediate trends or what topics others liked. I started picking up better names when I started thinking of domain names related to the topic's I am already good at. Everyone already has few niche areas, it could be something they are good at professionally or a daily activity they enjoy or a hobby they are passionate about. When you are good at something or enjoy something, it is easier to come up ideas for names in your specialty that others will want and use.

If you have spare time. it also makes it easier to build a small website to promote your domain, because you already know about that topic, rather than having to spend time in learning about a new subject.

If you enjoy jogging, think of what other joggers would like and see if there are domains that will highlight a particular type of product related to jogging, or if you enjoy a particular cuisine, go for a domain that a blogger of that cuisine may want....

P.S. It does not mean I don't get tempted and buy domains from other area's that I have no idea about but it is not as bad as when I was a noob, not that I am anywhere close to being an expert

 

[LoneDeranger]

@LoneDeranger, Initially I used to pick up names based on immediate trends or what topics others liked. I started picking up better names when I started thinking of domain names related to the topic's I am already good at. Everyone already has few niche areas, it could be something they are good at professionally or a daily activity they enjoy or a hobby they are passionate about. When you are good at something or enjoy something, it is easier to come up ideas for names in your specialty that others will want and use.

If you have spare time. it also makes it easier to build a small website to promote your domain, because you already know about that topic, rather than having to spend time in learning about a new subject.

If you enjoy jogging, think of what other joggers would like and see if there are domains that will highlight a particular type of product related to jogging, or if you enjoy a particular cuisine, go for a domain that a blogger of that cuisine may want....

Time is all I have right now, so its a good start!
But how can you determine wether there is demand for that niche?

 

[DNVantage]

But how can you determine wether there is demand for that niche?

One of simplest method is, Google for it, if search result numbers are high, it means others are writing about it, or companies are making products about it or offering services.

It will also get you more keywords to think about.

I personally go for names where I will build a site. I specially like sharp narrow niche, where you can build tiny sites. I enjoy it more that way. It does take time but it increases sale value also, and when I get bored or don't build a site, I list it for sale

 

[LoneDeranger]

One of simplest method is, Google for it, if search result numbers are high, it means others are writing about it, or companies are making products about it or offering services.

It will also get you more keywords to think about.

I personally go for names where I will build a site. I specially like sharp narrow niche, where you can build tiny sites. I enjoy it more that way. It does take time but it increases sale value also, and when I get bored or don't build a site, I list it for sale

Nice ! My goal for the next Q1 of this year is to build a mini-site with a domain I own. Thanks for the explanation!