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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. Culminant Domain

    Culminant Domain Established Member

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    NameBuyer, I would love to invest in 50 minutes of your time.
     
    Last edited: Mar 1, 2021
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  2. iTesla

    iTesla Established Member

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    One additional point would be to have a PC, internet and money at the beginning of internet to hand reg one word domains yes even at 100USD per name, this so called Domain King who all worship, he sells domains which are registered from the 90s i would see what he would do today by hand registering domain names. :D
     
  3. Culminant Domain

    Culminant Domain Established Member

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    That would make me the heir apparent. 😉👑
     
  4. Angelsscoutdomains

    Angelsscoutdomains Established Member

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    All of them are highly paramount and go hand in hand IMO and I will rank them in this order according their priority:
    1. Money.
    2. Knowledge.
    3. Patience
    4. Creativity.
     
  5. TheBuyerz

    TheBuyerz Established Member

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    You need knowledge to be successful in any domain...studying people's need and following new trends, any niche needs to be studied, tested, followed and/or practicied to know well what it asks or catch the best opportunity about it before others even noticed it.

    If you have the knowledge, money will comes to you by investing in the right domain names by hand reg them (we don't talk about backorders and auctions).

    If you have money and don't hold the sufficient knowledge required to invest in this area... you will keep losing them. If you don't invest then you are not growing and you will keep only spending, spending, spending until you reach 0$.


    IMO
     
    Last edited: Mar 1, 2021
  6. Duck_Duck_Domain

    Duck_Duck_Domain Established Member

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    Perfect, the order mentioned is the key which applies to all most every business except the capital incentive business like installing industry...

    In today’s era, many investors (VC) are always in the search and looking for good investment opportunities, if your project is strong enough the finance would not be a difficult task or a problem.

    Fortunately digitally properties (like domain) does not require high investments, which most of the domainers can afford it.

    But yes wrong or not worth domain can be ended up costly with renewal cost.

    Honestly, I liked this thread very much, kind of very basic and necessary information but certainly the vital one. Which one must not ignore.

    Also taking the opportunity to thank you for suggesting such a wonderful platform (forum) to me where I can see very useful information getting exchanged. Where learning every moment is the theme of this forum.

     
  7. L.A. Randle

    L.A. Randle Rise & Grind Blue Account

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    Oh my goodness, well said.
     
  8. L.A. Randle

    L.A. Randle Rise & Grind Blue Account

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    I think that all four are important, with money being first, followed by knowledge, than creativity.
    Patience in this game is a given. You don't have any other choice but to be patient and if you can't, then this game isn't for you.

    You need investment cash for buying and registration fees. Promotion sometimes calls for money as well. It all depends on how you approach your marketing.

    The one thing that has helped me sell my domains within a couple of months is creativity.

    CREATIVITY
    CREATIVITY

    I tell every single one of my clients. The reason domainers fail is that they think this game is just about buying a domain and waiting for someone to pick it up. You'll stay in the poor house with that mentality; eventually giving up.

    You have to find a way to make that domain worth something to someone. If you can't do that, pay someone to do it for you. But odds are, you aren't pushing out domains on a production line just based on the name.

    People need to see a vision. Start the idea up for them. Convince them that they need what you have.

    Domaining takes WORK. But it's not something that can't be done on a consistent basis. I'm proof of that.

    I think most people get into this thinking that all you have to do is buy a domain name and flip it for profit.

    NOPE.

    Not that simple folks. And I myself had to learn that the hard way.
     
    Last edited: Mar 2, 2021
  9. itssri

    itssri Established Member ★★★★★★★★★★

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    Loads of money is needed to make the years of experience in domain names count. That million dollar sale comes only after someone with loads of money either invested lots in top names or invested wholesale long back and could afford to keep renewing them.
     
  10. biggie

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

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    Hi

    :) to see you posting!

    imo...
     
  11. Super-Annuation

    Super-Annuation eMoneyToken -Superannuation - Brekky - SuperFunds

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    I'm wondering, if you want to sell domains, do you truly need money?

    If I only wanted to 'sell' a premium domain, that cost a lot of money, could you not just find a buyer for the owner and make commission?

    That is, if you're starting out and want to learn how to sell premium domains, could an individual find a domain they think they could sell, find a buyer, then... You get what I mean?

    Sure, the larger yield would be from ownership of a premium bought at discount, sold at premium to end-user, but am I right to assume you don't even need a dollar to sell names?

    All good advice in this thread.

    I'll add that it might be a good idea to think if the domain has anything to offer in regards to SEM.
     
  12. L.A. Randle

    L.A. Randle Rise & Grind Blue Account

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    That is a good entry point idea for beginners with no money.
     
  13. biggie

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

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    Hi

    i get what you mean

    but If, you're just starting,
    then why would the owner of a premium domain want or need you representing their name?

    and, with no knowledge or experience.... how would you know what a premium name is?

    imo...
     
  14. L.A. Randle

    L.A. Randle Rise & Grind Blue Account

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    Dang... Good point
     
  15. frostify

    frostify Top Contributor VIP

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    The #1 lesson I wish people would learn is to choose quality over quantity.
    It's better to have 10 names worth $100 each than to have 100 names worth $10 each.

    Less renewal fees (this can be a huge expense), higher margins, more demand, etc.
    I try to tell people to invest in generic keywords, one word, two word, 3L, 4L, and other 'blue chip' domains that have a solid track record of slow and steady increases in value. Go for domains with some age and even previous sales history. There's so much data out there to make informed decisions these days.

    Finally, unless you have over 5+ years of experience and know what you're doing, just stay away from unpopular extensions. Stick with the big 3 being: .com .net and .org

    I can't count how much money I've seen newcomers waste on newer extensions that just never took off. Lots of people blew money on .biz .mobi .info and more. While a select few made a profit, the overwhelming majority did not.
     
    Last edited: Mar 2, 2021
  16. Drongy

    Drongy WebSuffix.com VIP

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    While all of them are important, money comes out top due to the fact that quality names > hundreds of handregged ones.
     
  17. frostify

    frostify Top Contributor VIP

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    To add to my previous point, don't be afraid to spend money on a domain if it's high quality, especially if it looks like there's still room for profit. Lots of investors have this mindset that they can only invest like $15 to $20 per domain name which simply isn't true. My most profitable flips have been names I've bought in the low to mid $xxx range and flipped for low to mid $x,xxx.

    Check expired domain auctions, check popular marketplaces and sort by new. Check previous domain sales, domain age, other extensions registered, etc. You'll get back what you put into it. If you keep investing in cheap domains, you're best case scenario is cheap profits.
     
    Last edited: Mar 2, 2021
  18. Culminant Domain

    Culminant Domain Established Member

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    Buying cheap domains is like watering dirt.
     
  19. Future Sensors

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

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    No. You can't just say this without adding a few more lines.
     
  20. Culminant Domain

    Culminant Domain Established Member

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    Serious question: Do you mean per NP rules or are you suggesting I should elaborate?
     
  21. bmugford

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

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    This might be an unpopular opinion, but I think creativity is not always a positive trait when it comes to domain investing.

    It might be positive when it comes to finding some cute brand for your own personal use, but with 150M+ .COM taken there are a lot of creative people on Earth who have already registered almost everything good.

    Sometimes it is just better to buy the types of domains end users are looking to buy than try to re-invent the wheel.

    Brad
     
    Last edited: Mar 2, 2021
  22. Future Sensors

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

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    You're generalizing this at an extreme level, while more subtlety is required - especially in this thread.

    For example, you can differentiate by TLD (.com, .cc, .io), by time period (domain registered in 1995 or 2021). You could tell us what you think is "cheap" and "not cheap". You could add some statistics if it's not your n=1 experience. You have endless possibilities to take us along in your way of thinking. But what you wrote is simply too blunt and can mislead new domainers with little budget.

    Just have a look at the Recent Sales thread and you see what I mean.
     
  23. dexdn

    dexdn dudedn.com VIP Gold Account

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    If you have a money you will gain the knowledge, you will become patient and maybe creative, but, if you don't have a money you will not gain the knowledge, you will not become patent and for sure you will not be creative. Now, if you have a knowledge and if you are a patient and creative person already what's the point if you have not enough money to invest and to lose?
    Money is everything in this business and everything in this business is about money.
     
  24. slader23

    slader23 Always On The Bleeding Edge. VIP

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    Knowledge is what separates successful domainers among other common domainers. You can only become knowledgeable through hard work, research and learning from your mistakes. If you don't take the time to learn, you will never become successful in any business. Money, although important is not the main differentiator because the best domainers continuously apply their knowledge to take advantage of asymmetric opportunities hidden within the domain aftermarket.

    Being knowledgeable gives you the patience to wait. For example----> Buying and holding a future trend domain....ex Mike Mann with CryptoWorld.com sale to Binance for $195,000.

    AND

    Being knowledgeable enables you to do more with less money. For example ---> Joseph Ciprut hand registering CognitiveAutomation.com in 2016 and selling it for $300k+Stock to the Cognitive Automation Community.


    One big mistake for many domainers is overemphasizing the importance of creativity. IMHO we as domainers are not artists, we aren't creating or adding anything unique to the world, the value is inherent within the domain itself....we are selling it's UTILITY.
     
  25. GreatBrand.in

    GreatBrand.in Established Member

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    Thank you so much for your comment & specially the last paragraph. It's certainly a thought provoking views.

    I don't know about other domainers but I certainly give high importance to creativity but you are damn right when you say

    "we aren't creating or adding anything unique to the world, the value is inherent within the domain itself"

    But hey wait a minute;

    Isn't this also true with the other assets say Gold, Diamond or Real Estate. In Gold case, there inherent value is Gold but still well designed Jewelleries command premium over simple Gold biscuits selling at the bullion market. Isn't this true with Diamond where polished diamond command exponential premium than raw diamond from mines. Isn't this true when compare to just piece of land, well demarcated developed plot command better premium ?

    Looking forward to have some intellectual thought provoking discussion from other members too.
     
    Last edited: Mar 4, 2021

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