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Most important quality that differentiate successful domainers among other common domainers?

Labeled as discuss in General Domain Discussion, started by GreatBrand.in, Feb 26, 2021

Replies:
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?

Most important quality that differentiate successful (millionaire) domainers & common domainers?

Poll closed Mar 5, 2021.
  1. Knowledge

    90 votes
    33.5%
  2. Creativity

    18 votes
    6.7%
  3. Patience

    81 votes
    30.1%
  4. Money

    80 votes
    29.7%
Total: 269 vote(s)
  1. GreatBrand.in

    GreatBrand.in Established Member

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    Domaining is a serious business which needs time, energy and serious efforts. It required at most level of dedication and sincerity like any other professions. In spite of all these dedication and efforts still the success rate in this profession is very low. There are very few successful domainers who are performing consistently over many years and decades and then we have list of domainers who are struggling to get even their first sales.

    The average industry sale through rate is very low 2-3% and thus out of 100 domains only 2-3 gets customers either in the form of end-user or resell investors.

    Anyway, I personally believe this sector needs some special quality and the domainer who posses those attributes succeed here and believe me money is not in my top three list. These are
    1. Knowledge,
    2. Creativity
    3. Patience

    and if you have more money along with these above qualities your learning curve and struggle duration would be shorter but if you only have money and not the other three qualities than I don't think anyone would be able to save you from bankruptcy :)

    What is your view, out of all these four deciding factors (including money) which one is the most important main deciding factor mainly shaping career of a domainer and defining whether he is successful or not.

    Other than poll your candid views and thought provoking arguments/ justification are most welcome to make this discussion engaging, entertaining and inspiring.

    Best wishes!
     
    Last edited: Feb 26, 2021
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. FavourB

    FavourB Established Member

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    I choose money.

    You need money to gain knowledge ( DN Academy)

    After the training you need money to start investing properly.

    After Investing you also need money to stay afloat in the business and still if you got money you will automactically have patience as there wouldn't be any need to sale in a hurry.

    Money Money Money
     
    Last edited: Feb 26, 2021
  3. GreatBrand.in

    GreatBrand.in Established Member

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    Wow amazing points :)

    I think you are confusing knowledge with the education. Knowledge is not a fast food that you ordered and get it. It is years of experience based on your personal inclination, nature, observation, succcess and failure.

    Also do you think every one who trained from the Academy are successful domainer ? On the contrary those who are successful for more than decades never got such trainings :)

    Anyway, thanks for bringing a new perspective.
     
  4. TauseefKhan

    TauseefKhan Top Contributor VIP

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    I think vision or lets say knowledge is important. People who bought domains (good ones) 20 years before were having a vision of an online world booming with users and businesses.
     
  5. pb

    pb Top Contributor VIP ★★★★★★★★★★

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    perseverance

    I chose patience in the poll but it's not quite the same.
     
  6. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    A mix of all. Timing is another one.

    You can't replicate the type of domains you could register or easily acquire in the mid to late 90's and early 2000's.

    That aside, I would say the number one trait is the realization that you don't know it all, and are always open to learning.

    Brad
     
  7. Sumeeth

    Sumeeth DomExpert Epik.com Staff VIP

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    I believe, Good domainer should have the ability to pick right keyword + knowledge on different niches

    I mean if he has good niche knowledge + ability to identify right keyword, he can even earn with hand registered domains as well :) just my opinion :)
     
    Last edited: Feb 26, 2021
  8. noneisnone

    noneisnone Wubalubadubdub VIP Gold Account

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  9. loredan

    loredan Top Contributor VIP ★★★★★★★★★★

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    Agreed with Brad here, it must be a mix of all the above plus a few more.

    Money is obviously important but knowledge is importanter :)
     
  10. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    i'd rather be a common domainer,
    who has something in common....
    with other domainers.

    and even if i be seen as successful
    in the eyes of others
    that success, could still be something that we have in common
    which, would make us more similar - than different

    so
    as domainers, we all strive for success
    it's a goal, as a group, that we have in common.


    puff puff..... ahhhh


    imo...
     
  11. Devanos

    Devanos Established Member

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    All of these elements are very important, but we have to arrange them according to priority, as knowledge is the origin of learning in any field, and after we learn and master something, we begin to innovate, Creativity, seriousness and Patience, and if some Money is available on our journey, it will be something that will bear fruit for our efforts and experience that we have gained in long-term investment.
     
  12. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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  13. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    The people who do the best basically want to learn and understand.

    Many of the people that fail have the same traits. They are stubborn, think they know it all, and are not open to learning.

    You see it often in threads like under appraisals where they just won't accept that their domain is not good, then become abrasive and hostile about it.

    We all start somewhere. The people who realize they don't know it all tend to have better outcomes.

    Brad
     
    Last edited: Feb 26, 2021
  14. karmaco

    karmaco Top Contributor VIP

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    This is one of those chicken or egg questions. I voted money but all the money in the world won’t help if you don’t have the knowledge to know great names versus bad ones and why.
     
  15. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Money certainly helps, but money without knowledge and experience is also the quickest way to lose money.

    Brad
     
  16. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    That is basically a Dunning-Kruger chart. The more you think you know, the less you actually
    know.

    Newcomers don't even know what they don't know. :)

    Brad
     
    Last edited: Feb 26, 2021
  17. karmaco

    karmaco Top Contributor VIP

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    True and this question is complex. I voted money because its easier for any domainer to gain the knowledge if determined enough. Not every domainer can recognize a great name and have the funds to bid it up to 25K at auction.
     
    Last edited: Feb 26, 2021
  18. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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    The following is more a definition thing :)

    An excellent salesman sells lots of really bad names to other excellent people. Just because he's an excellent seller. He doesn't get the respect from other domainers. But, will we consider him a successful domainer?
     
  19. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    It is true because money brings opportunities. The more bankroll the more opportunities you have.

    It is why rich people tend to get richer in general, not just in the domain world.

    If you think a stock is going to triple and you only bought $100 stock the gains are almost irrelevant in the grand scheme of things. You do the same thing with $1M and now you have serious gains.

    Brad
     
    Last edited: Feb 26, 2021
  20. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Sure. Even the best salesman in the world will be more effective with quality assets though.

    Brad
     
  21. Future Sensors

    Future Sensors 78% of human domainers will be replaced by robots Gold Account

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    Agree. And, having some money in the bank will give you freedom & time to focus on domaining full-time.
     
  22. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    It also helps with negotiation when you don't need a sale to pay bills. It gives you more leverage.

    Brad
     
    Last edited: Feb 26, 2021
  23. TheBaldOne

    TheBaldOne Top Contributor VIP Gold Account ★★★★★★★★★★

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    Something not on the list is:

    'Ability to walk away'

    By this I mean all good domainers know when to stop investing money, time, effort, etc. into an attempted purchase, an attempted sale, or indeed a potential development with a third party. When it is obvious that things will not work out a good domainer has to know when to cut his/her losses in effort, time, money - otherwise you just get run around in circles by the other party and not for your benefit. (You soon learn who's word or hand shake you can trust - and this is a very precious commodity in your arsenal on the way to success.)
     
  24. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    That is certainly true. Having the right temperament can really help.

    It allows you to use your time and resources more effectively and walk away when something doesn't make sense. Walking away from overpaying at auction, because of emotional reasons, is also an important trait to have.

    This also helps cutting the cord on loser domains. Every domain doesn't have to be a winner. Sometimes you just cut your losses and move on.

    Brad
     
    Last edited: Feb 26, 2021
  25. Revisiting

    Revisiting Established Member

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    You have to remember the dynamics of making money from selling domains has changed immensely. When people like myself and a good many others here on NPs started - Even the businesses that became our customers didn't, in the most part know or realize they would be looking for or buying a domain. Yes we are going back to that description of a 'Internet thingy' days

    We at the time just had to be conceptually ahead, Now today you have to be streets ahead of fellow domainers, The marketers', Individual businessmen, the conglomerates you name it. The skill set is built into your provenance.

    My advice these days if your just starting out. Is don't go searching for domains - you'll only end up buying the best of the Rubbish - but, it will still be rubbish. So What's the answer, Well if you don't have a background in Marketing, Product placement/development or Advertising there probably isn't one. You can't invent a skill set for yourself just because you like Domains
     
    Last edited: Feb 26, 2021

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