Ready to Quit!

[Broker]

Have'nt been able to sell a domain in months and I'm getting very frustrated. Have sent out hundreds of emails to potential endusers and not one reply of interest. Meanwhile tons of very odd domains are being sold everyday for thousands. This business is not treating me well at all. I just dont know what gives or what I'm doing wrong. :yell:

 

[-REECE-]

B6 is a super popular vitamin - very good for acne. It would be a super easy sell at a premium over regular LN.com prices.

Yes, money is definitely a factor -- If I had 10x as much money as I do, I probably would have bought 10x as many LLLL.coms and would be sitting on a half million profit right then and there.

Nevertheless, I agree with Giode's POV that focussing on pessimistic stories - "I can't because I don't have money" won't get you anywhere. One member of this very forum told me that he had turned $20 into $3000 this year alone. Maybe not alot of money to some of you, but where he lives, $3000 is alot of money.. He's a very bright domainer and I'm sure he'll be joining the ranks of pros soon enough.

I'm sitting on easily 30-40k profit on my LLLL.coms I bought over the last 3 months. I spent 11k on them. No matter how you slice it, that's one heck of a ROI. So, maybe you don't have 11k... Then do what it takes to get it

I didn't just wake up with 11k, 40k, 300k etc one day. I worked for it, a day at a time. I now make half my income from domaining. I make more than enough to do it full time, but choose not to. If you don't have the money to get into this business, maybe it's best you find yourself a good paying job. If you don't have the requisite skills or if there are no good paying jobs in your area, capitalize on small opportunities like LLLL.coms when they present themselves. You have many more opportunities to look forward to in the future -- don't let anyone tell you differently

I'm not asking for help. Money is the main thing holding people back from success in this business. I don't have 35k to spend a domain. And i think 35k is nothing for a domain like copies. You would never be able to find a deal like that on the aftermarket. Had you not achieved that first sale you would not of achieved any others because you wouldn't have any way to fund your purchases. Where do you think you would be had you just been unable to sell B6?

 

[Jasonn]

B6 is a super popular vitamin - very good for acne. It would be a super easy sell at a premium over regular LN.com prices.

Yes, money is definitely a factor -- If I had 10x as much money as I do, I probably would have bought 10x as many LLLL.coms and would be sitting on a half million profit right then and there.

Nevertheless, I agree with Giode's POV that focussing on pessimistic stories - "I can't because I don't have money" won't get you anywhere. One member of this very forum told me that he had turned $20 into $3000 this year alone. Maybe not alot of money to some of you, but where he lives, $3000 is alot of money.. He's a very bright domainer and I'm sure he'll be joining the ranks of pros soon enough.

I'm sitting on easily 30-40k profit on my LLLL.coms I bought over the last 3 months. I spent 11k on them. No matter how you slice it, that's one heck of a ROI. So, maybe you don't have 11k... Then do what it takes to get it

I didn't just wake up with 11k, 40k, 300k etc one day. I worked for it, a day at a time. I now make half my income from domaining. I make more than enough to do it full time, but choose not to. If you don't have the money to get into this business, maybe it's best you find yourself a good paying job. If you don't have the requisite skills or if there are no good paying jobs in your area, capitalize on small opportunities like LLLL.coms when they present themselves. You have many more opportunities to look forward to in the future -- don't let anyone tell you differently

Regarding B6..I should of just said where would you be without your first significant sale to fund other purchases. Sometimes it just doesn't happen so easily for people. Of course being pessimistic isn't going to help any and most of the time I think I am pretty positive but I have bad days that just seem so much worse when i see others making leaps and bounds over me who only started a few months ago.

 

[mhdoc]

Money is the main thing holding people back from success in this business.

That's what lots of people in the real estate business say and it isn't true there either! There is an old saying that goes "If the deal is good enough, money is never a problem."

You don't have to look hard to find examples where lots of money at the start made large losses possible. Not having enough money forces you to think of better ways.

 

[-REECE-]

I think alot of people don't realize how much money may be available to them... Think of family members, close friends, acquaintances, etc... Show them the kind of profits you've been making (assuming you are making them). If you're making profits, chances are they're annihilating that GIC/bond rate.. Start a business and make them a partner in the business. I'm looking into doing this myself right now -- not because I'm broke or need the money, but because it would allow me to scoop up the opportunities I sometimes miss due to having my funds tied up.

That's what lots of people in the real estate business say and it isn't true there either! There is an old saying that goes "If the deal is good enough, money is never a problem."

You don't have to look hard to find examples where lots of money at the start made large losses possible. Not having enough money forces you to think of better ways.

 

[dannbkk]

Giode, its people like you we should all be using as our rolemodel! Well done in your success!

I'm not asking for help. Money is the main thing holding people back from success in this business. I don't have 35k to spend a domain. And i think 35k is nothing for a domain like copies. You would never be able to find a deal like that on the aftermarket. Had you not achieved that first sale you would not of achieved any others because you wouldn't have any way to fund your purchases. Where do you think you would be had you just been unable to sell B6?

What he's saying is you can start anywhere, you don't need much money at all if you are serious, Do anything you can including setting your alarm clock to pick up the droped domains and get enthusiastic about it, don't let negativity get the better of you.

Good Luck!

 

[Pound]

In a way, I resent your statement above. Like Reece said earlier, luck is a byproduct of work. Very hard work. Some people will never understand this. I can tell you one thing, pessimism will never change your situation.

I understand you're frustration though. I got into this domaining stuff in February of this year, and quickly realized how late I was. I was frustrated often, but it made me hungrier and work harder. Truthfully, when I started out I was spending 16 hours everyday learning all I could. I didn't post a lot, but I did read a lot. I started doing my own thinking, and tried new things.

One of the things I tried was catching names as they dropped, since back ordering wasn't working so well. I timed the .info drop down to the minute, and everyday would set an alarm to wake up at that exact time with my pre-drop list I prepared the night before. I usually got exactly what I was trying for on those .info drops (except the three letter .info's! I soon found that there were a couple members of this forum who were quicker than me and were snagging them all and comparing their catch on this forum). I then got a membership at Exody.com (I still have one) and learned a ton about the domain drop system works, plus picked up some of my best .info domains there. I would VERY highly recommend becoming a member of Dwayne Rowland's site. Amazingly it is still undiscovered by large.

Why does this matter? Because it made this business fun, and I was naturally able to progress to bigger and better things. For the first 3-4 months though, I saw obtaining premium .com's as unrealistic (That was, until I tried in May).

One thing is, I always made a note to stay away from anything negative relating to the domain biz, because I realized that negativity can hurt enthusiasm in a big way. You need to be enthusiastic if you want to succeed in anything. Things were no different for me then, than they are for you now (or anyone). It's all a matter of attitude and the level of determination you have. Joe Girard, Guinness World Record holder for the most sold used cars, said that he would avoid most of the other car salesmen he worked with because they were always so negative. It drained him and effected his performance. He noted that they always made excuses for failing, but never blamed themselves for underachieving. Because of this, their situation never changed and Joe always sold rings around them.

Regarding your comment on my, or Sashas, low-balling owners of generic domains. That's a cop out! I think you would be shocked if you knew the prices I paid for the names in my signature. They were not low-ball offers. Frankly, I am put off by low-ballers like the next guy. When I bought Cushion.com for 10k, forum appraisals put the name's value at 10k-20k max. I did the leg work that led to a 75k sale. When I bought Copies.com for 35k, one member of this forum in fact, posted that he thought I OVER paid. It was an opinion that I respected, but fortunately was able to sell it for 90k. Were those low-ball offers? I don't think they were at all. The same for Sashas. I know some of the prices he paid and can tell you that they were not low-balls either.

The best thing for you would be to stop looking at the success others are having, and go out create your own success. If you are truly determined to succeed in this business, no one should need to baby step you on how to do it. There is so much information out there, that you couldn't possibly need more.

Thin*com is one of the best names I have seen owned by a member of this forum. Potentially seven figures!

 

[goodkarmaco]

Very inspiring,

I have been giving up expensive coffees for a long time and reg new names with that cash.

 

[Name Trader]

When I bought Cushion.com for 10k, forum appraisals put the name's value at 10k-20k max. I did the leg work that led to a 75k sale. When I bought Copies.com for 35k, one member of this forum in fact, posted that he thought I OVER paid. It was an opinion that I respected, but fortunately was able to sell it for 90k.

I'd be interested in knowing the details of the "leg-work" you needed to do to turnover these domains.

 

[Albert]

Yes please share the leg work

 

[earnbussi]

even i need to know

 

[Smith]

I've been a "domainer" full time with no other job for coming up on 7 years now have tens of thousands of domains. Sahar got me into the business when he was living in a trailer and me at my parents.

From my experience luck has little to do with how one does in this business, timing is a factor, but large domainers are not built on the back of "brandable" names, speculation or resale. Speculation is a terrible business model and very unstable, at the end of the day it's a job in the truest sense. You don't sell a domain you don't get paid.

While there are sales that occur with large portfolio holders, the business model is based heavily on traffic and revenue earned from it, it doesn't take a visionary to realize that if names that receive type in traffic can generate X amount of revenue in X amount of time it is a good investment. Last month we sold over $30,000 in domains, but this is in addition to our primary business model.

When you focus on a sustainable business models, take educated risks, and continue to modify your business plan, domaining has the potential to be a good business.

When you have a dream but don't have a sustainable business model you burn out and end up out of the game sooner than needed, and often on someone else's terms.

 

[gazzip]

Great post Smith - I would still say you were pretty lucky to have met Sahar 7 years ago !!

If you had'nt do you think you would be as successful as you are today or would you have still been doing what you were doing at the time?


I am in NO WAY saying that you have'nt worked really really hard & smart to get where you are today.


.

 

[Name Trader]

I'm gonna show more respect to the next guy i meet in a trailer with a hairbrained scheme for making money

Nevertheless. I'd still like to know how to exercise my legs

 

[Smith]

Learning the concept of type in traffic and the power of it years ago from Sal was for sure a defining moment in my life.

If I hadn't gone the direction I did, I guess I would be involved in the restaurant franchise industry, I was a corporate manager for a large Canadian coffee chain, training to be a district manager when I started with domains.

I can't really imagine what my life would be like now had I taken a different path (nor do I really want to)

 

[gazzip]

Yeah, Sahars story is indeed a GREAT ONE, also not without a few chance life changing moments along the way.

For those that may not have read it, very inspiring stuff ! enjoy !

http://www.dnjournal.com/cover/2007/may.htm

.

I know you have developed one property site Smith....and you now live in Dubai, do you have any plans to develop others related to Dubai or are you mainly interested in the PPC model ?


ps - Do you know why people keep emailing me trying to sell me Dubai Homes ??

I can barely afford my rent :hehe:




.

 

[Jeffrey]

Well, if your main bread and butter is domaining then that would be acceptable.

My last sale was a year ago plus my domains don't get a lot of traffic, but virtually, i'm not complaining. I know that good sale will come in its right time. I also enjoy developing some of my domains.

Well, in my opinion a mid $xxx sale every few months in not worth the effort.

I agree with Ronald above that development is a good way to go. :imho:

 

[Smith]

I know you have developed one property site Smith....and you now live in Dubai, do you have any plans to develop others related to Dubai or are you mainly interested in the PPC model ?

No plans to develop much stuff specific to the Dubai / UAE market at the moment, traffic is a bit limited, I look at it more of a testing ground.

PPC is easy, but there are talks behind the scenes of PPC coming to an end within 5 years and there isn't any replacement for it right now, so diversification is always a good idea.

 

[Kate]

ps - Do you know why people keep emailing me trying to sell me Dubai Homes ??

Perhaps it has to do with the nice property names in your sig

 

[gazzip]

No plans to develop much stuff specific to the Dubai / UAE market at the moment, traffic is a bit limited, I look at it more of a testing ground.

PPC is easy, but there are talks behind the scenes of PPC coming to an end within 5 years and there isn't any replacement for it right now, so diversification is always a good idea.

Thanks Smith, I have a few especially for development purposes, should be done long before that, I think there may also be great potential in advertising, banner ads etc - The UAE spends a fortune in advertising as far as I have read.

Perhaps it has to do with the nice property names in your sig

Ahhh, maybe - I never thought of that Kate, I will adjust my siggy to suit asap :tu:



...any ideas how all those other thousands of people that sent me emails know I have a little willy and need viagra ? - I have no idea I know I did'nt tell them !

.

 

[DomainMayhem.com]

...any ideas how all those other thousands of people that sent me emails know I have a little willy and need viagra ? - I have no idea I know I did'nt tell them !

LOL, gazzip!

This is an excellent thread, and I think that the points touched upon are very relevant to every single person that enters this forum. I have been in the domaining game since May, and I haven't sold any names yet. I am however, earning ad revenue (not much, but it's getting more stable every day, I pretty much get clicks every single day now-I suspect that's how it starts, small at first, then more each day.)

I too want to focus on developing, and have three development ideas that could become quite successful, but I am waiting on funds to buy software, and some other loose ends that need tied up.

I haven't contacted end-users as I truly have no desire to become a salesperson (I'm great at soft sales, but not hard). That is perhaps a downfall, but I choose to look at the other things that I can do make up for it, such as being a developer, and continuing to look for better ways to earn ad revenue. I would love to sell a name for $xx,xxx, but I think the more attractive thing to me right now is say, earning $x,xxx a month in revenue on names that I keep (and no, I'm nowhere near that yet!)

Once again, excellent thread.