NameSilo

The cold hard truth - your going to lose money

Labeled as opinion in Domain Beginners started by MrAcidic, Nov 13, 2019.

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  1. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Let's face the facts, most people who are involved or are starting out in domaining are going to fail, they will lose money and they will go back to what did before they watched that YouTube video or reading that article on how easy it was supposed to be getting rich quick from Domain investing.

    Your recent "golden ticket" registration is most likely worthless (been here and got the T shirt)

    Your expectation levels are most likely completely unrealistic

    Thinking people will show you a step by step guide on how to succeed? Think again, this aint gonna happen, no matter how many free guides, tutorials or videos are produced by people. If you can't think for yourself then don't work for yourself

    Can't be bothered to read through this forum? Your not alone by the look of how many similar questions keep getting asked day in day out.

    Don't want to look into future/current trends, the latest news, global events, tech science, health journals, opinion pages, journals etc etc etc then say goodbye to any half decent hand regs, let alone the good ones

    Can't be bothered to learn about, bookmark, read, watch all the Domain resource tools that are available outside of Namepros? Stick to your day job.

    If you have a full time job, are you adding multiple hours to your working day by learning about this industry? If not, keep blindly regging those names that look good........

    Don't have a job or any supplemental income? Don't buy domains

    Can you afford to lose money? Cya....

    Don't know what a trademark is? Go and register VisitGoogle.com or something similar and tell us what a great name you have and see what feedback you get

    Everyone wants it all in a blink of the eye, patience is no longer perceived as a virtue and people expect things to happen rather than having to work for it.

    Patience is a prerequisite for honing your craft
    Things do not happen by chance, it requires hard work and a willingness to learn

    If you want quick easy cash this is not the place to be.......

    GL (y)
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Shamiul Alam

    Shamiul Alam Established Member

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    My realization after 1 year, I should have studied domaining for at least 1 year before spending even 1 dollar.
     
  3. Fortnite

    Fortnite Patience is the key to success and big money Gold Account

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    Yes, that's what I've been telling people, it's all about patience...most people in this industry "mostly new comers" don't have the patience. They just watched their first "youtube video" and think they can make quick cash until the hard truth hits them hard in their backside. Anyways there are bunch of them, if not most people like that, else everyone in this world would be Rich/Leaders/successful..we need noobs in this world to create a balance.

    Ps. The only way to make quick buck is to sell your butt under the bridge or on the roadside😁
     
  4. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Same :xf.smile:
     
  5. tonyk2000

    tonyk2000 Top Member VIP ★★★★★★★★★★

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    ... and investigate "big data". Or, at least, try to. It is naive to think that our industry is full of angels. Unpaid sales. Sales with payment plans which were never finished, but announced as successful in the very beginning. Unpaid expired sales (where they really go to - venue by venue). And, does everybody think that all announced amounts (or alleged amounts if no public announcement was made) are always real amounts paid with real $$$ (without any under-the-table agreements between our provders and "good" customers)? Sorry, but it is not the case. Auction houses stating that they are not auction houses in ToS, which alone allows them to sign special agreements with "good" customers (NDA). Sellers bidding on their own domains, or on domains of their buddies and vice versa. Service providers, including but not limited to some new gtld registries, trying to acquire new customers like there is no tomorrow (which alone is suspicious for a thinking mind). Bot wars. Bloggers promoting *&#*(& (edited out the real term). ICANN and Verisign doing everything possible to shut domaining down. Etc, etc, etc.

    Without full understanding of the above - any new domainer is, unfortunately, doomed to failure.
     
    Last edited: Nov 13, 2019
  6. xynames

    xynames XYNames.com PRO VIP

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    Studying is requisite but just as for example you may spend months studying a stock and think you know all about it but until you put money on the line you’ll never know whether you’re really cut out for this business.
     
  7. tonyk2000

    tonyk2000 Top Member VIP ★★★★★★★★★★

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    Yeah, and the first step is often overpaying on expired auctions. Maybe it is "I simply want to invest $$$$", but what if two younger domainers (<3 years in business) are overbidding each other? Or, what if the other bidder wants to be outbid and wants to end up as the second high bidder (because, due to special agreement, in this case he will receive a compensation from the "house" in form of bidding credits. Nothing new in this model, even ICANN auctions of new extensions utilized such a scheme, but it was public)?

    By overpaying here I mean that they would be unable to find retail buyer even to return initial investment.

    This is why I sincerely recommend to check "big data" and domains history... what happens with portfolios built in "I want to have it @ any price, you cannot outbid me" mode. For example, for a couple of years, I see such domains (in English almost exclusively) dropping from a few Korean registrars (domainer almost always overpaid - consolidated domains with their home registrar - but is finally dropping these purchases..).
     
  8. Ostrados

    Ostrados Entrepreneur Gold Account VIP

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    Domaining is hard and by that I mean really really hard.

    The problem with domaining is that it takes a lot of experimenting and trial and error before you find the right formula, even if you read a lot you will still find it incredibly difficult. However reading and doing a lot of research will cut your losses by 70% or more.

    I found that the best practice is diversity, make 30% of your portfolio EMDs (exact match domains, 30% brandables, 30% liquid domains (3L, 4L, 5N).

    Also you need to be active, dont sit and wait your domains to sell, reach out and let people know about your domains.
     
    Last edited: Nov 13, 2019
  9. Shamiul Alam

    Shamiul Alam Established Member

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    Yeah! it is.
     
  10. Lox

    Lox ----- Gold Account VIP

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    @Rob Monster is trying to do something about , to change ... time and dedication will tell if it's been worth the effort. Let's see
     
  11. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    This is part if it.

    You can't rely on people to give you the answers, you need learn for yourself. All the free resources in the world will not change this.

    Relying on someone else's time and dedication for a hopeful shortcut is a fallacy.

    @Lox when I say "you" above it is not directed at you :xf.smile:
     
  12. WatchDogue

    WatchDogue Top Member VIP

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    Overall I agree with the premise that most beginners are going to lose some money.

    The good news about the inevitable loss is that a newcomer can be active and give it their best shot with a couple dozen domains and only drop a few hundred bucks or so, not an expensive lesson if they choose to continue domaining.

    If someone is down to their last few hundred I sincerely hope they do not decide to bankroll a domain portfolio in hopes of acquiring quick money.

    In many other endeavors an ill informed investor can drop four figures or more before figuring out the rigors and risks associated with that respective investment so, a newbie who invests and fails with domains may not be out too much money.

    And patience is a vastly underrated and unappreciated virtue a successful domineer must have, glad it was pointed out to anyone embarking on a domain journey.
     
  13. ksusha64

    ksusha64 Upgraded Member Gold Account VIP

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  14. Acorn

    Acorn New Member

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  15. Javier-Ramos.com

    Javier-Ramos.com New Member

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    This happens to most people who invest in the stock market, they lose money the first year and they never do it again, bottom line is that you need to do your research and figure out if the domain that you are buying has demand for a buyer, how long or short the domain etc, at the end of the day though you have to start somewhere and practice will bring you success even if you fail multiple times.
     
  16. Brands.International

    Brands.International formerly lolwarrior Gold Account VIP

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    There is one proverb which imo is very true in general, and particularly in domaining:

    If you do the same things the others are doing, you will have the same results the other's are having. If you want to have something which other's do not have, you need to do something that other's do not do.

    And that is the whole secret :)
     
  17. JB Lions

    JB Lions Top Member VIP

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    Ah, you jumped on the .com bandwagon. Most big domainers make their money buying good .coms. Even today, very active in the Aftermarket, auctions.
     
  18. Brands.International

    Brands.International formerly lolwarrior Gold Account VIP

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    well, .com bandwagon is not for me really :) :)
     
  19. vikki88

    vikki88 Established Member

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    The truth has been spoken :)
     
  20. DpakH

    DpakH Upgraded Member Blue Account

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    Thanks for the post.
    It’s really nice one
    Regards
    Dpakh
     
  21. Grego85

    Grego85 Quality.Domains VIP

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    I mostly agree with the OP.

    to the beginners:
    I suggest you toss out your thesaurus and most of your "marketing creativity". They only cause you to throw money away.
     
  22. aliweb

    aliweb Established Member ★★★★★★★★★★

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    To be honest, even after 11 years I don't understand domaining.
     
  23. lock

    lock PremiumNameDomain.com VIP

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    It isn't just about newbies there are experts that can lose their pants. Registrars going for it with gtlds etc. The whole speculation business has taken huge tolls bookmakers bankers stock brokers before domainers ever came along. The truth with domains the price is pretty firm so this all about time management. There is some equation to how many names one can handle in the time allocated before expiration. If the names don't bring traffic enquiry then you will need to work for the sale. You must buy names that bring you the end user and there is only a handful of bests per niche. I myself need to practise what I preach and cull hard. It is the semi okay names you think you will get a $100 for that you keep renewing and you actually won't.
     
  24. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

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    most domains I sell I own for more than 5 years or even over a decade
     
  25. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

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    Nachtigall ick hör Dir trapsen

    Nightingale ick hear you trapse
    ( like g translate puts it )

    I can tell which way the wind is blowing.

    as dict.cc translates it
     

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