What's the most important lesson you've learned domaining?

[vinsdomains.com]

Jumping back into the business after being out of it for many years. Seems like a lot has changed and there is an overwhelming amount of information floating about. Seems like a lot of sharks too! As such, I thought I'd solcit input from all of you fellow domainers regarding important lessons that you have learned along the way. What's your best piece of advice, so a beginner doesn't get burned? Thanks in advance for any educational responses you can provide!

 

[GiftedDomains]

My best advices for beginners would be:

1) immediately stop registering any domain (if you are doing it)
2) read as much as you can in domain forums for about several weeks up to few months
3) then start domaining, stick with .com /org/net ,and sometimes info. and/or ccTLD if you know the language and if you choose a name with the language of the country. for instance, not english with german tld
4) avoid other extensions until you know exactly what you are doing , or simply avoid them forever
5) Its better to invest let say 100 dollars in a good domain, than registering 10 useless domains each 10 dollars
6) register either generic domain names, or brandable .coms, avoid TM domains

there is of course a LOT more, but these are the most important imo

 

[ommedu]

Never buy a domain that in the event you can't sell it, you wouldn't want to develop your own. A domain you can't sell and can't develop is just a virtual paperweight...

 

[Theo Goodman]

Pure domainers are few and far between imo,
most develop websitss as well as buy and sell undeveloped domains.

a-viod hyphen domains even if you are german
learn how to:
use the adword tool
develop websites
write content
pitch domains in emails and on the phone

Do some experiments
use a godaddy coupon code to hand register a domain that you think is good. Then try to sell it or develop it.

Buy a domain here on the forum and do the same.

Notice I said "a" domain ,not 10 50 or 500

Be a bug on the wall and learn how to read and listen to info. At the same time take things with a grain of salt.

Try things and see if they work for you.

 

[Federer]

There is no easy money in domains.

don't agree there.

It's not difficult to register 3-4 names daily and sell them for low $xxx within a few days.
A few hours work and some sharp research.

 

[.X.]

"Patience"

Patience has been my best friend in this industry.

 

[domainhacks-931385]

Don't buy a domain just because you think it might have value to someone else
Don't register any domain that you don't have any interest in developing.

 

[johname]

How is that possible? My registrar (Godaddy.com) requires you wait 90 days on a newly registered domain, before initiating a transfer or push.

You can push to another godaddy account anytime.


60

 

[thx1138ga]

Don't reg anything you are not prepared to develop.

 

[HappyDay]

When you find a good name through registrar search register it within the shortest time because if you wait it will be gone.
I had this issue several times with different registrars and as I know many other peoples too.

 

[twomoon]

Some advices:

1. If you're a beginner , don't register domains (cause everything good is already registered maaaany years ago). If you think you're smart enough and could create (register) a great domain - forget about it. You won't. Buy domains on the aftermarket (domain auctions, forums)

2. If you purchased and now have good/great domains don't try to sell them fast. Wait for the right Enduser. If you purchased somewhere (auctions, forums) not very good domains - try to sell them (to Endusers, on the auctions, at forums) - be proactive in this case.

2. Read forums and try to figure out what's going on. Try to find your own niche.

3. Try not to buy exotic extensions (.tv is not an exotic lol)

 

[DubDubDubDot]

Jumping back into the business after being out of it for many years.

I took a look at the sales site in your username. Truthfully, it's one of the worst portfolios I've ever seen. You need to stop registering new domains immediately.

A very common newbie trap is being overly impressed with available domains. "OMG! I can't believe this isn't taken!" I remember the rush I'd get as a newbie when I'd search at GoDaddy and "____.com is available" would appear on the screen.

 

[Jawed]

There is no easy money in domains.

 

[JFS]

here is some of what i learn during this years =)

- if you have a site selling domains, never ever, use free services ( like blogspot,google sites,and do on... ) real buyers will likely to stay away from "free sites", and it doesn't give you any credibility...

- when making your company site on your non-native language, pay someone native to correct your content, don't trust free translators unless you aren't serious in getting the foreign visitors as clients.

- for beginners, don't buy domains you think you can flip, start buy buying domains, put a mini-site on it and sell the domain+site.

- if you buy a domain to be a brand skip this one :P always check google adwords tool to see the exact searches local and global of the domain you want to buy or dev ( in the language of the domain of course... )

- don't trust entirely what you read - you do have a head don't you? - test things for your self after reading. if 10 ppl say different things, maybe all of them are true,maybe all of them are lies..

hmm this is enough i think =)

 

[Dotmainer]

Would you mind to tell at least a little about your "A few hours work and some sharp research."

Hope this is a request from all newbies like me and will help all of us.

Regards

It means:

- near perfect knowledge of langauge (near native) exmpl. favour / favor ... AE/BE
- more than 4-5 years of internet 'browsing'
- understanding of moneyflow
- good understanding of marketing
- business knowledge
- good understanding of search engine/s
- know what happens behind the scene in company

when you have all this it takes 3-4 hours

:tu:

--

 

[Dorkside]

Quality is better than quantity.

You're better off spending more for a single premium domain than buying a hundred hand regs. Premium domains garner more interest, are more liquid, and you save a lot of renewal fees if you have 1 domain instead of 100. Also, the less domains you own the easier they are to manage and keep track of.

 

[Makis.TV]

Don't believe everything you read, no matter how "verified" the source is domaining has many black holes to cover fake sales and transactions.

 

[Name Trader]

Never believe it's a student trying to buy the domain for his studies/girlfriend etc.

 

[richface]

Some advices:

1. If you're a beginner , don't register domains (cause everything good is already registered maaaany years ago). If you think you're smart enough and could create (register) a great domain - forget about it. You won't. Buy domains on the aftermarket (domain auctions, forums)

2. If you purchased and now have good/great domains don't try to sell them fast. Wait for the right Enduser. If you purchased somewhere (auctions, forums) not very good domains - try to sell them (to Endusers, on the auctions, at forums) - be proactive in this case.

2. Read forums and try to figure out what's going on. Try to find your own niche.

3. Try not to buy exotic extensions (.tv is not an exotic lol)

I don't agree fully. I have sold hand reg domains in the hundreds. As long as you understand keywords and know what you are doing you can still make money. BUT is requires alot of reading and researching. My opinion only

 

[briguy]

My biggiest mistake (hopefully my last) is registering a recently expired domain WITHOUT checking it history!

 

[Artwm]

The number 1 lesson I learned that appraisal services are scams.

The biggest waste of money is paying for their service.

 

[richface]

I agree

finding end users is the easy part:

GOOGLE the domain's keywords (ex. "Garage Kits") for GarageKits.com
estibot has a nice lead generation tool
leadrefs pulls up similar domains

This is exactly how I find end users remember guys you also need some good negotiating and persuasive skills too. There are hundreds of companies waiting to buy your domains they just don't know it yet is up to you to find, convince and present them with a case as to WHY they should buy your domains.

Richface

 

[Foph]

I'm sorry to say this but I completely agree with DubDubDubDot and you'll thank everybody for it later believe me...

Your portfolio at vinsdomains / com contains some of the worst domains I have ever seen. My advice: let all the artist, charity, most misc, motivational, religious and sports domains expire.

Keep the 4 letter ones for the time being and focus on 1 or 2 domains for developing. Only reasonable ones I see are making / euros / com and fab / views / com. old / diamond / rings / com may have some potential as well if you can develop it in the right way.

Sorry to break it to you in this way, don't hate me for it and just ignore my post if you think it's unimportant. But please at least consider it for 10 seconds.

Thanks and good luck in the future.

 

[JFS]

well if i see a site "googlesites" one, and selling a domain for like 2k would you buy it ? even if the domain was worth more ?

 

[SK1990]

(1) Not sure why you are trying to debate "my personal experience" and what I thought was a tip for those new to domaining! But
(2) Again my personal opinion...if you had a "google site" and were selling a 2 k domain....I sure would do research to see if the domain was worth (or potentially) worth 2k!
(3) Bottomline isn't a domain worth what the buyer is willing to pay...

Bottom line, what JFS is trying to say is, present yourself professionally to give potential buyers a greater sense of trust.