poll Which is better. A Specialist or a Generalist?

[blogspotter]

In a world of full of specialists, the generalists triumph.
The book "Range" by David Epstein is very interesting and it influenced me greatly. And in this day and age, generalists tend to do better, based on the book. But here I am talking about specialization.

For now I am neither, but looking at the success of @DNGear for xyz and @Nikul Sanghvi for co and we have many known eu specialists, cloud specialist and so on, I am beginning to think specializing is a lot better with very small % in stuff outside your expertise when you get a really good buy.

Here is my simple reasoning.
Hundreds of premium domains with demand gets into the expired auctions and dropcatch stream everyday.
So it is not like there is nothing to buy out there. There is a steady supply of good domains if one has the money.

SInce you have only so much resources and more domains to buy, I think it is best to specialize in something, study the trend of that particular niche/tld/geo etc and have a laser focus on what to acquire instead of looking all over the place and picking up mediocre domains .


Just analyzing Nikul's .co sales took me a while and analyzing Shweta's xyz sales took me while.

What are your thoughts on this?
Be generous with your words.

 

[Kuffy]

I think of myself as an opportunist. If I see something that takes my fancy as a good buy, then I buy it, and I do a lot of shopping this way, even for food. I suspect that this may have been my downfall, as I have 8 garages full of "opportunities", and I more or less dumped over 1,000 domain names a year or so ago.

 

[blogspotter]

I think of myself as an opportunist. If I see something that takes my fancy as a good buy, then I buy it, and I do a lot of shopping this way, even for food. I suspect that this may have been my downfall, as I have 8 garages full of "opportunities", and I more or less dumped over 1,000 domain names a year or so ago.

I also spend a few hours everytime I see someone sell a domain in a niche I was not aware of.
Some people are really good in this though.

 

[Recons.Com]

Not sure if generalist here means shallow expertise in few things.

I am generalist in the sense of diverse background and knowledge, I am specialist in quite a few fields...

Int. Relations/Int Law/Languages as I have got my MA degree in this and even had an internship in a Ministry of Foreign Affairs, taught at a University etc.

I have worked for PG and gained first hand experience how consumers think, decide etc.

I have worked as Tax/Legal/Contracts Manager for a multi-billion company. I have got a full time MBA from a top US School in Marketing and Finance.

I have worked in Finance/Valuations/Commercial roles for large energy companies in Europe and USA. I also happen to be good at science even now, including chemistry, physics, biology etc.

I speak/understand many languages. And I am working on writing a book on branding.

I have been developing/owning websites since 1999.

These all definitely help me identifying good names. I can tell at the first glance if a name might mean something in a wide range of languages, if it could be a first name/last name. If a name might have a tech/life/business application etc.

For me, limiting myself to a niche would be a loss. I have a specific daily budget to spend on names, $200-400 range. And I am better off choosing the best available through the range of niches, as the supply of good ones is limited. So I just focus if the name/phrase/word/word combo/ makes sense as is and can be applicable to one of the larger industries where companies/people understand the value of a good brand and are ready to pay for it.

 

[blogspotter]

Not sure if generalist here means shallow expertise in few things.

I am generalist in the sense of diverse background and knowledge, I am specialist in quite a few fields...

Int. Relations/Int Law/Languages as I have got my MA degree in this and even had an internship in a Ministry of Foreign Affairs, taught at a University etc.

I have worked for PG and gained first hand experience how consumers think, decide etc.

I have worked as Tax/Legal/Contracts Manager for a multi-billion company. I have got a full time MBA from a top US School in Marketing and Finance.

I have worked in Finance/Valuations/Commercial roles for large energy companies in Europe and USA. I also happen to be good at science even now, including chemistry, physics, biology etc.

I speak/understand many languages. And I am working on writing a book on branding.

I have been developing/owning websites since 1999.

These all definitely help me identifying good names. I can tell at the first glance if a name might mean something in a wide range of languages, if it could be a first name/last name. If a name might have a tech/life/business application etc.

For me, limiting myself to a niche would be a loss. I have a specific daily budget to spend on names, $200-400 range. And I am better off choosing the best available through the range of niches, as the supply of good ones is limited. So I just focus if the name/phrase/word/word combo/ makes sense as is and can be applicable to one of the larger industries where companies/people understand the value of a good brand and are ready to pay for it.

Every impressive.

You should read Range by David Epstein. It is on Audible also if you are into Audio Books.
I am a great fan of the book and was starting to introduce my son to wide range of sports and activities until this stupid pandemic started

 

[Nikul Sanghvi]

Added 'Range' to my reading list - thanks for the recommendation @blogspotter !

I'm also a generalist in terms of skills and knowledge - but when it comes to domains, I have ended up specialising in one particular extension.

I did it because .CO used to be a niche where prices were lower, bidding competition was low, ROI was high and I didn't have to go up against the big portfolio holders with their API bots (HugeDomains etc). I quickly familiarised myself with both wholesale and retail pricing - and this gave me more confidence with buying and selling.

Having said that, I wouldn't recommend it. Firstly, you end up with all your eggs in one basket. For example, my strategy was heavily impacted by the introduction of the premium tiers by Neustar. Secondly, you miss out on opportunities elsewhere - I ignored .IO for a long time and missed the boat.

And whilst I focus on .CO a lot for the lower end, I've also funnelled the proceeds upstream into other extensions such as .COM. This strategy has meant that my sales outside of .CO are fewer and infrequent, but can be higher in value.

 

[blogspotter]

Added 'Range' to my reading list - thanks for the recommendation @blogspotter !
For example, my strategy was heavily impacted by the introduction of the premium tiers by Neustar.

Are the registry premiums by .co a recent development?
I can't find a single good domain without a reg premium, other than some foreign terms

Yesterday Mobilario or something that means Furniture in spanish dropped but it was snapped up as I was a few minutes late. But any other that looks slightly decently are reg premiums now.

Any idea how they decide what will be a reg premium. I think they are using Huge Domains style algorithm to assign premium and then all LLLL are premium regardless of whether the word makes send or not lol

And if I have to pay 400-500 in an auction, .com seem safer, unless the words are super premium

When you say "You Missed Out" on opportunities. Do you mean the Auctions prices are so high that the acquisition cost no more justify revenue, or you missed out hand registering. Because .io has been around for a long while.

Did you hand register many .co's?

I understand xyz where DNGear scooped up every single word domains lol

 

[Nikul Sanghvi]

The premium tiers were introduced towards the end of 2018.

Re: missed opportunities, I mostly refer to auction prices for premium .IO now (vs 3 or 4 years ago). But I think that applies to .CO and .COM too, all seem to have accelerated over the last 6 to 12 months.

 

[Rich]

Historically the one niche portfolios didn't perform well, speaking of the all marijuana names or all VR. I'm glad DNGear and Mr. Sanghvi found a formula that works for them. I may have to buy that book as I consider myself a jack of all trades, master of none. I can relate to recons in that my work history is diverse. My problem is I get bored easily and am always on the move. I've had mostly art related jobs. I've been a sous chef, decorative concrete mason, website developer/consultant, logo designer, domainer (art to me). Now I'm a vegetation foreman trimming trees for an electric company performing duties many 18 years olds could not, studying arboriculture and bonsai on the side. When it comes to domains I've been all over the board, sold .infos, .us, .nets but always came back to .com Lately I've been looking into what the future may hold and kicking myself for not hand regging stuff like cast.vote when avail. The new G's are here to stay imo. Do you think generalists are happier and healthier as they don't devote all their time/energy to one category, and that specialists do better financially?

 

[bmugford]

Well, being a specialist kind of limits your options. It is fine to specialize, but keep your options open.

When it comes to domains, it is good to have some knowledge and experience in a lot of different fields. In fact that is one of the main reasons I enjoy this; you learn new things daily.

Brad

 

[Recons.Com]

Every impressive.

You should read Range by David Epstein. It is on Audible also if you are into Audio Books.
I am a great fan of the book and was starting to introduce my son to wide range of sports and activities until this stupid pandemic started

Thank you very much! That book you mentioned intrigued me, as I was always curious why the current global culture runs against being generalist, over having the bigger picture, effectively, while at the same time we all admire men like Leonardo da Vinci. Will definitely read.

Even for job applications, you are expected to trim anything that might show you as someone not narrowly specialized for what the recruiter looks for, even if you might beat in the niche anyone specializing.

I find that my universalism helps me and gives me an edge. For the projects, where I'd need to hire a team and couldn't bootstrap, I am managing fine doing lots of tax/legal/contracts/finance/accounting/marketing/advertising/branding/web development aspects myself and hiring help for specific task as needed.

 

[blogspotter]

Re: missed opportunities, I mostly refer to auction prices for premium .IO now (vs 3 or 4 years ago). But I think that applies to .CO and .COM too, all seem to have accelerated over the last 6 to 12 months.

Auctions need some self regulation. it is not good for everyone involved.
If everyone came in with a fixed budget and let the one with the highest reasonable budget win, it would be great. But you have a high bid and 500 and someone drives upto 4000 doesn't make sense for everyone involved. Every auction is nerve wrecking these days. yesterday I was willing to pay upto 2K for a CBD domain. went to 5600+. And it looked like if I bidded up, it could have gone as high as 8-9K.. Crazy...

Historically the one niche portfolios didn't perform well, speaking of the all marijuana names or all VR. I'm glad DNGear and Mr. Sanghvi found a formula that works for them. I may have to buy that book as I consider myself a jack of all trades, master of none. I can relate to recons in that my work history is diverse. My problem is I get bored easily and am always on the move. I've had mostly art related jobs. I've been a sous chef, decorative concrete mason, website developer/consultant, logo designer, domainer (art to me). Now I'm a vegetation foreman trimming trees for an electric company performing duties many 18 years olds could not, studying arboriculture and bonsai on the side. When it comes to domains I've been all over the board, sold .infos, .us, .nets but always came back to .com Lately I've been looking into what the future may hold and kicking myself for not hand regging stuff like cast.vote when avail. The new G's are here to stay imo. Do you think generalists are happier and healthier as they don't devote all their time/energy to one category, and that specialists do better financially?

Well, being a specialist kind of limits your options. It is fine to specialize, but keep your options open.

When it comes to domains, it is good to have some knowledge and experience in a lot of different fields. In fact that is one of the main reasons I enjoy this; you learn new things daily.

Brad

Thank you very much! That book you mentioned intrigued me, as I was always curious why the current global culture runs against being generalist, over having the bigger picture, effectively, while at the same time we all admire men like Leonardo da Vinci. Will definitely read.

Even for job applications, you are expected to trim anything that might show you as someone not narrowly specialized for what the recruiter looks for, even if you might beat in the niche anyone specializing.

I find that my universalism helps me and gives me an edge. For the projects, where I'd need to hire a team and couldn't bootstrap, I am managing fine doing lots of tax/legal/contracts/finance/accounting/marketing/advertising/branding/web development aspects myself and hiring help for specific task as needed.

So I guess opportunist is the consensus. And being a generalist helps. That is good for me. And looks like most successful domainers are jacks of all trade. I myself took a ton of subjects and now at 40+ starting to take data science and epidemiology courses on coursera

Your thoughts
@NameBuyer.com @Silentptnr @equity78 @Rob Monster @Keith @clarkemarketing
@NameDeck @gilescoley

 

[Recons.Com]

So I guess opportunist is the consensus. And being a generalist helps. That is good for me. And looks like most successful domainers are jacks of all trade. I myself took a ton of subjects and now at 40+ starting to take data science and epidemiology courses on coursera

Just to be precise, it is entirely possible to waste the effort with being generalist, if each endeavor stops before reaching expertise/fluency/mastery of a field/language/skill.

Anything before that point is easily forgettable for the brain and probably won't contribute to the future success.

 

[blogspotter]

Just to be precise, it is entirely possible to waste the effort with being generalist, if each endeavor stops before reaching expertise/fluency/mastery of a field/language/skill.

Anything before that point is easily forgettable for the brain and probably won't contribute to the future success.

If you have to master everything, then you are not a generalist. Just a genius polyglot scientist philosopher lol
I am not referring to those. Great if you can be that.
But with the extreme specialization these days, everyone works in silos and the generalists bridge a gap between them

 

[Recons.Com]

If you have to master everything, then you are not a generalist. Just a genius polyglot scientist philosopher lol
I am not referring to those. Great if you can be that.
But with the extreme specialization these days, everyone works in silos and the generalists bridge a gap between them

Perhaps I wasn't clear. I will provide an example. I have taught myself how to install a wordpress site, install a theme, choose proper plugins etc. I am by no means full stack developer, but it is a complete mini- set of skills that I keep applying and keeping it fresh.

So when embarking in learning something, set a minimum realistic useful skill goal that you can apply in real life.

Like if you going to learn to play guitar, make sure to nail couple songs you like and will be playing regularly.

 

[blogspotter]

Perhaps I wasn't clear. I will provide an example. I have taught myself how to install a wordpress site, install a theme, choose proper plugins etc. I am by no means full stack developer, but it is a complete mini- set of skills that I keep applying and keeping it fresh.

So when embarking in learning something, set a minimum realistic useful skill goal that you can apply in real life.

Like if you going to learn to play guitar, make sure to nail couple songs you like and will be playing regularly.

But of course, then you are simply wasting time.
That is not what I meant by generalists

 

[lock]

I chose to specialize thinking could reuse leads but i don't think it is of an advantage as often overlook names outside of niche.

 

[s.g]

Smartly written and highly engaging!

(Only the poll has been viewed for now. We'll ask others to vote since this topic is of interest to us. 10 votes collected during the first two months were statistically inadequate but let's see what happens over the next few weeks.)

We will read this thread and all the answers soon. The topic, judging from your attention-grabbing and cleverly challenging poll, is absolutely perfect for one of our upcoming discussions. Thanks for engaging your readers this way, blogspotter.

 

[biggie]

Hi

i think
whichever you are, at one point.... you may also be the other, as you or your group endeavor to succeed.

it depends on "availability" and "competition"., when you get in
and if the niche`/market/subject is limited because of above or as @Nikul Sanghvi mentioned
sometimes being a generalist, could be advantage over a specialist.

take LLLL.com for instance
some are interested in buying anything, from this category
others, only want specific letters in criteria.

while one is buying anything in general, the other, because of their specifics, are receiving less submissions.
and as the pool of availability shrinks, the specialist may alter criteria, and will now consider domains with J,U, Y, Z and W.

it's the perspective at the time, which could change, at any time.

imo...

 

[equity78]

Well, being a specialist kind of limits your options. It is fine to specialize, but keep your options open.

When it comes to domains, it is good to have some knowledge and experience in a lot of different fields. In fact that is one of the main reasons I enjoy this; you learn new things daily.

Brad

Great point Brad, because things change over time you could be in a specialist in something that falls out of favor.