discuss Psychology of that first sale.

[DomainGuy86]

Hello, readers.

I'm eager to learn the mental swirlings of domainers right before they made that first coveted, glorious sale.

They say you never forget your first time. Selling a domain, that is.

Did you ever think you'd close a sizeable deal? Did doubt and uncertainty prey on your thoughts?

I mean, if honestly in your heart you think you have a good domain...does the confidence carry you or is it simply a matter of market interest (incoming offers)?

What was your mindset leading up to your first deal? Do you continue to carry that way of thinking forward?

 

[Ategy]

While some might say rightfully it gives you confidence .. I think it's a bit more complicated. Before making a few sales it's not so much that you aren't confident (although it certainly can be the case to some extent), it's more the simple fact that you don't have the experience and sometimes get stuck in a paralysis of uncertainty (if that's actually a real term? lol).

After making multiple 4-figure sales I'd have to say that my experiences have made it easier to know when to say no and when to say yes (which I guess could be part of what confidence is). Without a doubt saying "no" more often, and more importantly knowing when to say "no" will end up making you more money in the long term as it allows you to sell some domains for a higher price "if" you made the correct judgement that the buyer is willing to spend more money,

But previous sales are only one of multiple ways to gain that knowledge you need in domaining. Equally important is learning all the basics (NamePros, podcasts, blogs, etc), following the market and sales, learning about the particulars of niche industries of the domains you sell, and knowing what prices to buy your domains at in order to allow yourself to set your own markups at a level that will make your entire portfolio profitable when you include acquisitions and renewals of domains you don't sell.


All that said .. I think my sales might have given me too much confidence in another way ... lol. In that I have so much (non-domain) stuff going on in my life, that I still haven't really set up a full marketplace, nor have I priced most of my domains, nor have I even listed them at most of the market places. I'm a great example of how to buy good domains and great prices .. but I'm a bad example of what to do after that .. lol .. hopefully buyers will continue to find me until I make my domains more find-able and accessible!


But be careful .. unfortunately in most cases .. it's nothing to do with confidence .. the vast majority of newcomers fail at domain investing because that buy the wrong domains at the wrong prices .. no amount of confidence can overcome that. If anything .. confidence can probably do you more harm than good at the start!

 

[poweredbyme]

A good domain maybe good because of its owner. But usually it's market value that makes a domain good. "Usually" because market value of a good is not static. Owner may play a role -a big role for himself but small role for the market- in its value by predicting its future value. Owner needs to be confident in his selling skill and price predictions. But those do not really affect the current market value especially for the domains with multiple potential buyers.