Why unrealistic Expectations

[barefoottech]

Buying and More Importantly selling Domains as a business seems to be the main purpose of these Forums. Yet increasingly ,there seems to be an unreal expectation on the part of so-called Newbies that they will make their First million Dollars in the first year of domain trading. This is almost like the bad old days of MLM . Like any business ,the only real way to ensure a good future success is planning not Hoping for a good sale.
People buying and then hoping to make money should not have to be told continually to do the following

1. Get a Good Name (preferably with Excellent Keywords )
2. Develop
3. Market the Name (SEO,Advertising ,Cross promote)

What do you do to promote and Educate other people about Domains as a Commodity?

 

[JoshHendo]

I don't think that newbies have high expectations......

 

[mole]

What do you do to promote and Educate other people about Domains as a Commodity?

I'm leaving this to duke to do this http://www.newnames.info

But seriously, you have a good point there. I'm sure there is a market to develop a site that will explain the value of domain names in a slick, objective and professional manner without sounding like a reseller fish market.

 

[JoshHendo]

in what way do newbies have high expectations?

 

[Legend.name]

Development is the key?

 

[mole]

Development is the key?

Absolutely, just that we all don't seem to have the time... :blink:

 

[nRnF]

1. Get a Good Name (preferably with Excellent Keywords )
2. Develop
3. Market the Name (SEO,Advertising ,Cross promote)

Some comments:
"Get a Good Name (preferably with Excellent Keywords)"
--> True, but not really needed.

2. Develop
3. Market the Name (SEO,Advertising ,Cross promote)
This applies, when you want to sale websites. It helps, but this isn't anymote the "name trading".
IMO if you have to develop a name to sell it, better stay off it right from the beginning.

IMO, you have to differenciate beteen selleing a domain name and a established website. There is a big difference betweeen both.

So a general rule may be:
Buy only if you know, taht you can resale without having to develop.

PS: Its never bad to set up a 1 page or turnkey site for a domain you have on sale and SEO it.

I don't think that newbies have high expectations......

Many do so, actually I did also when starting back in "good" old NSI times. It is good to have entusasm, but you should pair it with reality. So a bit resarch istn`'t wrong

 

[IAmAllanShore]

Why?
Because there's gold in dem-dare hills

I think mostly because every domain sale over a few thousand ends up on Yahoo as a "most emailed" item. Brings a few more folks into the game, and from there...

Not that high expectations hurt too much, it's nice to see the enthusiasm. When it does hurt is when they repeatedly push the same mediocre name 1,000 times or more (in chat ) for many times its realistic value.

But heck, it's cute. Like a 6 year old talking about being an astronaut. Chances are they won't be, but you still smile and say "sure you will" anyway

-Allan

 

[harkster]

PS: Its never bad to set up a 1 page or turnkey site for a domain you have on sale and SEO it.

:bingo:
I started doing this as an experiment. I now have 3 sites producing $3-$5/month and growing from Google and Sedo. One page (400-600 words) of SEO food. Now I am not so anxious about selling + price I will accept is higher. Doesn't sound like much but better than $0.00.

I also have some which are not producing. These will drop unless they sell within a year unless I really like the name.

Sort of off topic but just popped in my mind. Big hype while back was $75K for PetSupply.com. Went to see what had been done with it & all I saw was a very cheap 1 page thing with a link to Petco. How in the world is that going to get their $75K back?

 

[EbookLover]

Sort of off topic but just popped in my mind. Big hype while back was $75K for PetSupply.com. Went to see what had been done with it & all I saw was a very cheap 1 page thing with a link to Petco. How in the world is that going to get their $75K back?

It's not. It would have to be redeveloped. Also, perhaps you shouldn't believe everything you read no matter what the source is. Maybe the site wasn;t sold for that much. Who's gonna prove it? Who's gonna disprove it?

 

[domainSPOTLIGHT]

Maybe they got 75k of food supply? Maybe petco bought it for a different project?

 

[IAmAllanShore]

How will they make their money back?

13,000 hits from somewhere (Type-ins, as well as domainer traffic)

A popunder

PetCo through linkshare paying 20% of orders + volume bonuses

+ Sponsor links on page

Nothing huge, I'm sure, but if 1/2 that traffic is folks looking for pet supplies... there is a good chance they're still doing ok

-Allan

 

[TLDnetworks]

I didn't start this with high expectations. I did however start this with a few names as projects, and BAM out of the blue a $250.00 offer/sale for a name I reg'ed for $7.00 4 weeks earlier. I thought WOW this whole name thing DOES still produce...

So off I go on a spending spree for the next 4-6 months without a clue. Stung hard by Pool, picked up some expired doinks without the knowledge or research, stung by Enom...

YA, I ended up with unreal expectations. The forum here has taught me plenty, still have a bunch of doink names in my portfoilo, and have tempered my expectations. The sales have been anywhere from loosing money to quad digit increases, but making a million I'm not. The better lesson is that there is always a learning curve, and with knowledge comes success.

Now the hard part is focusing on what to do; name sales, development, affiliate, ppc, pop-up, pop-under, parking, ecomm, etc, etc, etc....

How will they make their money back?

13,000 hits from somewhere (Type-ins, as well as domainer traffic)

A popunder

PetCo through linkshare paying 20% of orders + volume bonuses

+ Sponsor links on page

Nothing huge, I'm sure, but if 1/2 that traffic is folks looking for pet supplies... there is a good chance they're still doing ok

-Allan

Thanks Allan, I'm off on another tangent...

 

[ApeXX]

I don't think that newbies have high expectations......

I think they do. Most of them come in here and think within their first week they will be able to backorder a $XXX domain. I came in here thinking that. And here, some times out sheer dumb luck, it happens. However most of them realize after a reg a few "quality" domains, or what they thought were quality, that they really don't know how to look for a good domain. So they come here for help, and they learn. It is a long, hard process. However we all took it, just like gradeschool. You advance, and you become better. Well, most of us that is. :lol: