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

[GreatBrand.in]

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!

 

[Duck_Duck_Domain]

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.

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!

 

[L.A. Randle]

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!

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.

 

[Culminant Domain]

Buying cheap domains is like watering dirt.

 

[GreatBrand.in]

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.

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.

 

[biggie]

I'm just saying, the domainer doesn't need consent, and can simply source offers. Present these offers to the owner and presto. Either enough or not.

Hi

you or anyone else, have no right, to solicit on behalf of any domain owner, without their prior permission.

can't believe you would follow-up, by making such an irresponsible and potentially liable statement, like that.

imo...

 

[bmugford]

Agree. I never thought of that. It's their right, but how do they stop it where legislation doesn't? But assuming I randomly contacted you with a serious buyer in a six figure range, above what you paid (confirmed with sales data,) would you be upset? I'm just asking and pondering a way for the not so financially fortunate to start without cash, and potentially improve liquidity.

Yes, because it means you are representing assets without people's permission. I don't really care about the results. I know in order to get that offer, that business model would leave a massive path of damage in its wake.

This crap has personally got me into legal drama in the past that I had to deal with as the person just moved on to the next domain.

Brad

 

[poweredbyme]

Knowledge is the key in all parts of the life.

 

[Kassey Lee]

Dedicating Yourself to Continuous Improvement

Very well said, and thank you for spending the time to write about your own experience. Valuable advice.

 

[bmugford]

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?

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

Brad

 

[GreatBrand.in]

The abillity to sell. Doesn't matter what it is.

Ability to sale for profit or loss or what would be better margin?

On the contrary seasoned domainers believe that success is decided at the time of buying: what you are buying and at what price you are buying.

If you have acquired best of the best 3L or dictionary word domain say Voice . com & paid enduser price, now in this case certainly you need to wait for a decade or so to even get your breakeven else you may "SALE" and book loss.

Anyway, Thank you so much for bring another good perspective that ignite our thought process & decision making ability

 

[Leopard]

Need all 4 equally. Lacking in even one can be disastrous

 

[Brian L.]

The luck of the draw is a big factor. You have to look at the what the chances are, that someone with money, is desperately seeking the exact domain you own.

 

[DuDD]

I vote for patience

 

[DomainNature]

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

 

[TheBuyerz]

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

 

[L.A. Randle]

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

Oh my goodness, well said.

 

[itssri]

Wow amazing points

... years of experience based on your personal inclination, nature, observation, succcess and failure...

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.

 

[L.A. Randle]

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...

Dang... Good point

 

[Super-Annuation]

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...

I'm just saying, the domainer doesn't need consent, and can simply source offers. Present these offers to the owner and presto. Either enough or not. Ultimately, they'll get a feel for the negotiations/valuations, and eventually have a great network and money to buy premium names.

If I were broke and genuinely wanted to make a career, that's where I would start.

 

[alcy]

big budget bahahhaha
jk

well imo...u just gotta like what u do... whether a doc or a.domainer.

enjoying makes all difference in the world

 

[Super-Annuation]

This mindset is toxic. A property owner can choose who they want to represent their assets.

Some random person has no right to pitch domains that they do not own or have permission to represent.

It can create all kinds of potential issues for the domain owner to deal with. The owner is stuck dealing with these as the clown just moves on to the next domain.

Brad

Agree. I never thought of that. It's their right, but how do they stop it where legislation doesn't? But assuming I randomly contacted you with a serious buyer in a six figure range, above what you paid (confirmed with sales data,) would you be upset? I'm just asking and pondering a way for the not so financially fortunate to start without cash, and potentially improve liquidity.

 

[Super-Annuation]

Yes, because it means you are representing assets without people's permission. I don't really care about the results. I know in order to get that offer, that business model would leave a massive path of damage in its wake.

This crap has personally got me into legal drama in the past that I had to deal with as the person just moved on to the next domain.

Brad

Sure, I can acknowledge your position here.

I suppose, permission first.

Edit: Permission first.

 

[manuelbroker89]

Experience or learn from other experiences and Patience.

 

[biggie]

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...

 

[lock]

The abillity to sell. Doesn't matter what it is.