advice The reasons why people don't succeed in domaining.

[Cooldomainideas]

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.

 

[PatrickV]

If you don't believe and be ready to invest for 10 or 15 years please stay away, except the domain flippers. GLTA

 

[adoni]

99.9% of registrations are a waste of reg fees

The real value of domains is in development

Yes, a few early keywords .com were worth a lot, but overall, it's understanding business and getting industry keywords in the 90's and early 00's and holding on for development projects

99% of domain sales are in the speculation market where end users are not involved and spec domains are crap, so what it has 3 or 4 letters .com so what

Development of industry keywords created mega million buck assets, lawyer.com developed by Lexis Nexis a mega billion buck public company in the legal industry

They bought it for nothing

Insurance.com sold to a development team for 50 million

Lots of early .com companies raised mega millions with nothing more than a keyword.com

yet the typical 'domainer' thinks selling an industry keyword was good for a lousy million or two

Look at the 80 million the guy with 350K crappy domains got the average was like 200 bucks a name, yet he's a 'genius' in domain name circles, he owned crap, and 80 million for 350K crap domains is crap

Development of brandable keywords in big industry was and is the way to go

Unfortunately there's not that many mega billion buck industries to development in

So 99.9% of industry keywords are not really big money development projects

Very few domain guys/girls really understand major industry that well, why homes is worth a fortune and lumber not that much

Lumber is in a home, it's a huge industry and how many lumber companies are around to buy it?

Not many

Now homes, that's the industry, millions of realtors, 78% of wealth in the world is still in REAL ESTATE

360 trillion in wealth and 78% is in REAL ESTATE

Real Estate is a crap term really, HOMES that's the big money keyword

Yet people drool over swartz's property.com

So what, it's nothing compared to HOMES

There's maybe a dozen mega wealth keywords .com

homes
insurance
cars
hotels
travel
casino
food
news
sports
money
crypto
bank

Not one domain guy got it right, by selling any of them for what they were really worth, all were unicorn development projects

 

[the_poet]

Because most people just don't want to take the time to study and learn so that they can make meaningful acquisitions, instead they prefer wasting money on garbage domains.

 

[DomainRecap]

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

Exactly, and in my opinion, Domaining is a "get moderately comfortable over the long-term" scheme.

 

[twiki]

I think domaining is one makes of it. Depending on their situation and style.

For most, it's a hope to hit some big luck (rarely it works like that).

You need to put much more in, and learn and work hard until you get profitable. And yes it needs money, and time. ( Edit: 90% of beginners, those which treat it like a get quick rich thing, will not make it even to some profit but rather lose money overall. I look at those FB groups and cringe whenever I do cause there are a ton of newbies there burning their little money hard and making registrars fat.)

For some, it's a side paycheck from time to time. These are part-time domainers with say 100 domains. Or occasional investors. From time to time they get a paycheck and it helps. But that's about it.

For others, it's long term investment. This is good, profitable model, but only if done right. And it requires 4 things: Experience, time, money - and most of all Patience. And lots of it. And yes - it is risky, like any other investment.

For a few, including myself, domaining is a business. This means we don't expect to get rich tomorrow. But we run it like a business, with capital, processes with constant tweaking, growth curve and projections, and even personnel. But it's even harder than the above cause it requires more work, and also business experience. You can't really run a business properly until you have some years under the belt doing that. I've learned this over the years. This is why I got profit right from the start, but also need many years ahead to get to what I call success which isn't an everyday paycheck. Anyway this is just my own perspective over it, and each of us has a different one.

So again, each domainer is different, their investment style is different, about everything is different. But there

 

[DomainRecap]

Personally speaking, when it comes to any endeavor like this, there are only two possible scenarios.

You are either running a business (PT or FT) or you are engaging in a new hobby.

In a business, you keep very close track of expenditures and revenues with the end goal of making a profit and maintaining it. Early losses are understandable, just like in any business, but within a few years and you are not breaking even, then it might be time to change your strategy or get out totally and try something else. This also includes true long-term investment, which keeps a close eye on the bottom line, constantly moving money to your advantage, as well as monitoring the cashflow generated and how it impacts expenditures. Investing is not just "buying stuff".

With a hobby, you don't monitor how much you spend on new domain purchases, renewals and other expenses, and while "future profit" might be an overall goal, it's not tangible and the game is what gives you pleasure. You use your primary income to support your hobby and are "in for the long haul". If someone asked a hobbyist what annual profit/loss was incurred over the last 5-10 years, he/she would look back with a blank stare.

And I am not slamming hobbyists, as I have a few expensive hobbies that I enjoy, and for me the money spent is more than worth it. A hobby grounds you and gives you a space to go that isn't work. I just don't fool myself that it's anything else, like those Beanie Baby et al lunatics.

And yes, every once in a while a hobby does yield a significant profit upon divestment, but it's also rare and more often than not, enjoyed by the previous owner's heirs.

To paraphrase a quote, "Domainers are either businessmen or hobbyists. There's no in-between. The trick is to find out which one you are, and be that."