question The Golden Rule...

[DanBingham]

of becoming a successful Domain Name Investor.

If you could go back, what advice would you have given yourself, or to any newbie starting out?

 

[WhoaDomain.com]

DON'T GET GREEDY.
MONEY NOW IS MONEY NOW.
MONEY TOMMOROW VS. MONEY NOW IS A GAMBLE.

TOMORROW IS NEVER GUARANTEED.

 

[karmaco]

Don't buy a name you wouldn't be proud to use
Don't be in such a hurry
Don't undestimate or overestimate potential value
Stick to the dot com unless the words are very valuable to many people
Wait for sales to hand register
Age doesn't dictate value quality does
All dropped expired names were dropped for a reason not always involving renewal fees-find out what it might be before you bid

 

[ksusha64]

Don't bite more than you can chew.

 

[Kuffy]

How far can I go back?

If I coud go back far enough, I would register all the single dictionary word .com names.

 

[Kpett]

And 2-letter .com names! If I could go back far enough, I would have registered all of the remaining 1-letter .com names before Jon Postel did!

 

[Omar Negron]

When someone offers you money for your domain and it's a respectable ROI, take it.

Stop looking for the million dollar sale. They probably won't happen because you don't have the domains that would be valued as such.

-Omar

 

[atinc]

Do not register any trademarked domains

 

[deez007]

DON'T GET GREEDY.
MONEY NOW IS MONEY NOW.
MONEY TOMMOROW VS. MONEY NOW IS A GAMBLE.

TOMORROW IS NEVER GUARANTEED.

This is SPOT ON!

Think about it like this.... If you have a domain that could potentially be worth $5000. Let say you get an offer today for $2500... sure it's half of what the domain is potentially worth and if you hold it for 2-3 years longer maybe you will get $5000 BUT $2500 in your pocket now, if re-invested properly would be worth a hell of alot more than $5000 in 2-3years

 

[WhoaDomain.com]

This is SPOT ON!

Think about it like this.... If you have a domain that could potentially be worth $5000. Let say you get an offer today for $2500... sure it's half of what the domain is potentially worth and if you hold it for 2-3 years longer maybe you will get $5000 BUT $2500 in your pocket not, if re-invested properly would be worth a hell of alot more than $5000 in 2-3years

Especially if put on Bitcoin recently when it was only $3000.

Or put it all on Ripple XRP and wait 5 years for $125k.

 

[deez007]

Especially if put on Bitcoin recently when it was only $3000.

Or put it all on Ripple XRP and wait 5 years for $500k.

Hell Yeaaaah

 

[tupungato]

Don't buy a name you wouldn't be proud to use
(...)
Don't undestimate or overestimate potential value

I believe these two pieces of advice somewhat disagree.
I wouldn't be proud to use these addresses for my business:

online-casino.org.uk 3,318 USD 2014-04-09
best-online-casino.com 2,750 USD 2014-03-19

But I can see the value.

 

[WhoaDomain.com]

Hell Yeaaaah

My bad correction on that $500k it's more like $125k in 5 years.

 

[DanBingham]

When someone offers you money for your domain and it's a respectable ROI, take it.

Stop looking for the million dollar sale. They probably won't happen because you don't have the domains that would be valued as such.

-Omar

Very true. I wonder how many 'over value' there domains? Probably a high %. Profit = Profit and I guess it's all too easy to become gready - then you lose the sale

 

[Satyajit Adhikary]

Don't buy anything in the 1st 3-6 months of your domaining.
Every domain looks like a gem in the 1st few months..n u feel too lucky n blessed..!!

 

[bonin]

If you started with domains in the past 2-3 years and your pocket is not deep, it is almost certain that your portfolio is not from super premium domains, so Adapt quickly....

I was a very good salesman in the recent past (face to face), but I'm not that good online seller, I've lost a lot of deals in the past 3 years as a "domainer", and I'm still learning how to sell online

 

[DanBingham]

I'm not that good online seller, I've lost a lot of deals in the past 3 years as a "domainer"

Why do you think that is? What are you now doing differently?

 

[bonin]

Why do you think that is? What are you now doing differently?

Online we can not influence with our voice, we can not use the body language and many similar and small but very important things, for me there is a big difference between the two types of sales, especially when English is not your first language...

a few months ago, for the first time, I was able to make a face-to-face deal for a domain at the bar of a hotel, so far this is my best deal

 

[Omar Negron]

Very true. I wonder how many 'over value' there domains? Probably a high %. Profit = Profit and I guess it's all too easy to become gready - then you lose the sale

Yep. I've made this mistake a few times.

 

[GoKaizen]

Stop, find a better time wasting hobby.

of becoming a successful Domain Name Investor.

If you could go back, what advice would you have given yourself, or to any newbie starting out?

 

[Willox Perez]

Especially if put on Bitcoin recently when it was only $3000.

Or put it all on Ripple XRP and wait 5 years for $125k.

It is so important to pay attention that even though many people said different golden rules that one that remains common is take money now. Where else will you get 200% on your money and yet some of us hold off to try to hit that home run.

Give me 100 singles and doubles and in the end not only will you get a consistent cash flow but you will also hit some home runs from time to time.

- Will

 

[davin riera]

"The Golden Rule" "he who has the gold makes the rules"

 

[HotKey]

If you could go back, what advice would you have given yourself, or to any newbie starting out?

If you don't get what you want, don't go looking for alternatives to "make up" for it. Domaining can be like comfort food for missed opportunities.

 

[1Darko]

Be very selective when buying names. Once you have a domain, be patient and hold it for more than just one year!