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The reasons why people don't succeed in domaining.

Labeled as advice in General Domain Discussion, started by Cooldomainideas, May 7, 2021

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  1. Cooldomainideas

    Cooldomainideas Upgraded Member Gold Account

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    To sum it up. The same reason people fail in domaining is the same reason why they fail in stocks, hitching, forex, freelancing,, starting a business etc.. No one wants to wait. Which is normal. Any decent hand-reg imo should be worth at least $100. If you buy for $8, renew 2 times(8 +8 + 8), you will profit 100-24=76. But then the question becomes who wants to wait 3 years for 76 dollars?

    The trick I've learned is you don't "wait" per say. You place it in motion (purchase the domain,list for sale) and then don't anticipate the sale. Almost as if you could care less if you made a profit(although that is the goal). I sold my first domain 60 days after I hand regged it. Granted if I didn't receive the sale, I wouldn't be as optimistic. But it made me optimistic enough to continue and learn more.

    In 2018 or so, I started learning about stocks and invested in chegg. If I stuck to plan and stayed with chegg and let it sit for years, I would be up. But I was too excited to trade, so I kept buying and trade. Fortunately I loss is only in the hundreds and it was money I was willing to lose.

    Which goes on to the next point, when you are using money you are willing to lose, you can be more patient and relaxed. If you are gambling with your rent money, then you're going to be a bit more tense.

    Domaining should be placed as a secondary goal when starting off and then primary once you have a proven strategy. If you need money right away, you should find something else to invest in and buy 2 hand regs a month.
     
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  2. noneisnone

    noneisnone 444 VIP Gold Account

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    not every hand-reg is worth something sometimes it is best to let go(and learn from your mistake) instead of dumping more money into it.
     
  3. Josytal

    Josytal Top Contributor VIP

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    Profit is the main object of any business. Risk assessment and mitigation is what is lacking. Most of us see the profit while undermining the attendant risks. That's the root of the problem. Good luck!
     
    Last edited: May 7, 2021
  4. Cooldomainideas

    Cooldomainideas Upgraded Member Gold Account

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    To clarify, the hand regs i am talking about would be something like potteryshowcase or downtowncryo. Or other exact match domains or similar keyword domains.
     
  5. noneisnone

    noneisnone 444 VIP Gold Account

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    @Cooldomainideas still very hard to predict the value even at 100$ some domains just don't sell and hand reg make it even more unlikely to sell that 8$ renewal on top of another few renewals you can backorder a domain that have much bigger potential
     
  6. Cooldomainideas

    Cooldomainideas Upgraded Member Gold Account

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    True. I'm just mentioning hand-regs because that's what I've done so far. I've only hand regged domains that I can envision actually being used as a legit website. Even then, that money can be saved for another domain.
     
  7. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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  8. DuDD

    DuDD Established Member

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    • Large deals often take a long time
     
  9. nononsense123

    nononsense123 Established Member

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    That's it. Time.
     
  10. jhm

    jhm Glazed

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    Pretty much agree. Breaks my heart seeing people register crazy things thinking its worth a killing. I own some wild stuff that I know ain't worth much, but the difference being I enjoy having it, knowing it ain't worth much..."only" to me. For me, domaining is fun
     
  11. Debasis

    Debasis Established Member

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    Domaninng is crap if you don't have lll.com , one word keyword .com
     
  12. Cooldomainideas

    Cooldomainideas Upgraded Member Gold Account

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    Not true.
     
  13. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I make consistent sales of domains that are not in that format.

    Brad
     
  14. Lox

    Lox _____ VIP Gold Account

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    One of the easiest ways to get started with domain usability testing and your confidence boost is:

    1. Hand reg. 10 domains
    2. Immediately, list the names on your registrar marketplace for $10-15 (Registrar… not @ Afternic, Sedo, Dan etc.)
    3. Wait and see if the people will take something from the listing.
    4. Whatever isn’t good enough for others to resell or develop, will be left for you to learn , accumulate more info and tune up your mindset/ thinking.
    5. Whatever is sold, you are doing well.

    This experiment is more than just an extension to your future domaining but also the cost is not expensive at all.

    Regards
     
  15. johnn

    johnn WeSellName.com PRO VIP ★★★★★★★★★★

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    The reasons why people don't succeed in domaining.

    #1 Reason: Because they did not listen to their wife.
     
  16. LBM Solutions

    LBM Solutions New Member

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    There are only reasons why people don't succeed in domaining because they don't do deep research before registering the domain.
     
  17. ecomslice

    ecomslice Top Contributor VIP

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    Lack of many factors. But top are research and understanding to know quality, Lack of funding , and selling toooooo cheap.
     
  18. Kris88

    Kris88 Established Member

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    Most of the domain I sell aren't LLL domains, they're EMD'S. The stats I always look for are

    Aged, at least 10 years
    Good monthly search volume, 1000+ searches a month is a good start
    Location domains ie. suits new york, plumber long island

    If im quick and early enough i can get those sorts of domains for $10 and resell them for $200-300, alot of the EMD's I get I try to sell them to SEO companies, as they can build rank and rent sites on them
     
  19. lock

    lock DomainUsed.com VIP

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    Panic that domain didn't sell first year and second year finally add a lander.
     
  20. DomainRecap

    DomainRecap Top Contributor VIP

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    1) Buying is easy, selling is hard. New investors judge their "success" based on purchases rather than sales.

    2) Virtually no one "runs the numbers" to determine if their entire portfolio is profitable. And the "numbers" will bury you in this business.
     
    Last edited: May 13, 2021
  21. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Lack of patience
    Lack of understanding what sells on a consistent basis, not just an outlier.
    No budget to buy quality names that cost more than reg fee.
     
  22. koolishman

    koolishman Top Contributor VIP

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    Much more than reg fee.
     
  23. NYJimbo

    NYJimbo Domain Re-Animator VIP Blue Account

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    LOL. :ROFL:
     
  24. satsdifference.com

    satsdifference.com Love God Love Life

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  25. FolioTeam

    FolioTeam AMDB.tv VIP

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    Makes sense on several levels. Domaining is not a get rich quick scheme but some people treat it as such.
     

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