Word of Advice Thread

[peaches017]

Please share the best tip you feel comfortable sharing.

• Start small
• Most of the time, freshly registered names aren't worth much
• Sell to end users, not domainers

Hopefully we can get a nice little list. If you want to expand on an idea you made, please do so out of your initial list; this will keep the thread looking clean as well as providing helpful info.

Peter

 

[mlawrencemsc]

Sell

I have two domain names I would like to try an sell, But how do I do it? Is there any where that doesn't charge money up front to sell my names. eworldjewelry.org eworldjewelry.info Thanks Mike NEWBIE [email protected]

 

[ILU]

I also felt the same things when i was newbie on this forum

Nice topic

 

[Mike]

I have two domain names I would like to try an sell, But how do I do it? Is there any where that doesn't charge money up front to sell my names. eworldjewelry.org eworldjewelry.info Thanks Mike NEWBIE [email protected]

You can list your domains on one of the many auction sites (Sedo, TDNAM (charges an annual fee), and many independents. Another hot tip would be to list the domains you'd like to sell right here on NP in the Domains for sale section: Just click on "Marketplace" and choose the appropriate thread for your sales.
However, while you're waiting for an offer to come in, which may happen immediately or never, or anytime in between, i heavily encourage to at least park your domains to retain the option to make at least a few cents here and there in the meantime.
If you need any parking help, shoot me a PM.

IB

 

[marbles21]

wow me being a newbie thanks for the advice i'm a new domain owner this is just the beginning for me i welcome myself some of the advice on here is good i have a lot of questions but reading, sharing thoughts and ideas i truly will learn from this

 

[simon johnson]

Marbles21: I must admit I really don't post on forums that often - too busy making $$$. However, I thought I'd share this with you:

Find yourself a niche, get to know exactly what people are looking for and give them what they want. Spend time doing your research (it will save you $$$ in the long run) and focus. Once you build up a small portfolio in that niche, then diversify.

Best of luck - its a great industry to be in.

 

[Hafsoh]

As a new domainer,

.5, Patience. It's a virtue, but also the key to surviving the domain game.

1, read the NamePros legal section FIRST! it's too easy to fall to the temptation of registering a name that actually is trademarked by someone else.

2, Either have a broad understanding of internet/domain dynamics or pick your niche(s) that you're well versed in. Why? Because in your area of expertise, you will know future developments, trends and product launches. This level of knowledge can give you a comfortable head start.

3, End User is KING!

4, Unfortunately, this industry is HIGHLY competitive. While NP has a great community, at the end of the day, everyone is striving to protect their interest, so don't expect anyone to share knowledge just because your name/NP ID is cute. (To this day i'm trying to figure out how some people are doing it: Spade, NameTrader, Yofie - just to name 3 that came to mind first...)

4.5, If you have "deeper" pockets, familiarize yourself with the Domain Auction Houses, such as Snapnames, TDNAM, Sedo, etc. and be on the lookout for drops - which is a science in itself....

5, PPC or Development. Never let your domains sit there and generate money for the likes of GoDaddy, etc. Once you own the domain, IMMEDIATELY park it until you get to develop it. While development should ALWAYS be the goal, there are some domains that are better being parked.

6, If you don't have these skills already, GET THEM! ASAP!! Which skills? Oh yeah, development (the evil word) ! It's vital, it's essential, it's your golden egg in the basket that you don't own just yet. Basic HTML, .php, JavaScript. Then there's the graphic aspect. Photoshop (Fireworks), Flash, etc. You don't have to be an expert, but you should be knowledegable to a certain extent, it's going to make your life easier.

6.5; You do have options then: Own domains for PPC. Develop domains for the long term. Buy undervalued sites and spruce them up for flipping. No one said that Flipping is restricted to Real Estate.

7, The most convenient solution for domainers: Domain Tasting. There's quite some controversy about this topic, I for one absolutely am in 100% favor of this practice. Make use of it with every domain you register. Some registrars are charging a small fee for tasting, which in the end will still save you tons of money. Register > Park: you realize that the domain you registered is insufficient in self support through parking > cancel the domain.

8, Network. Network and while you're at it, Network some more. It's all about who you know, how well established you are, your reputation, honesty, ethics, etc.

9, Read first, then ask. While new domainers are quickly forgiven when they ask redundant questions or questions that have been answered a billion times, nothing is more questionable than seeing the same question 10 times when the answer is sitting in the thread that's just one click away. If you read the threads and the answer is still not clear -> Ask as much as you can. Contradictory? Not really. Just Read > Then ask

and the final #10, Be Persistent. Domaining as opposed to Stock Trading is not a business of dynamic. It's asking for a steady hand with sometimes long term vision.

That's my 10cents of domainer's knowledge. I should adhere to most of these points myself. But as always, it's easier to preach than to actually do.

IB

Thanks for this great tips! Yes development should ALWAYS be the goal.

 

[chassmp3]

I like your point here...

removed

 

[vatsan]

When you get an offer for the domain just dont blindly accept. A little counter offer and bargaining may take the prices up by 1000%

 

[Phronesis]

Don't buy into hype.

Every month or 2 there's a new product / trend / idea that becomes the new 'thing'. The result is usually hundreds of ridiculous names that people register to squeeze themselves into the space. They usually end up in the "fire sale" thread within a few months - but definitely within a year (renewal time). For example just search here for wii, blook, zune, knol, umpc to name but a few.

 

[Kuixu]

Hello everybody. I wonder if you can help me to know, how can i get a Domain in namepros?

Thanks.

 

[qpPUNISHERqp]

I have to say, I am a little confused by the mixed attitudes towards TMs and typos. I have read in the parking threads from people who claim to be making lots of money from TM and typos, and other people responding with kudos towards this income. But elsewhere people are telling newbies, in no uncertain terms, to steer clear of them.

What's a newbies, like me, to do then? I am sure most people are in this for the money, and if there is money in TM's and typos....?

Sorry, I don't believe half of these people...Some people are nice but lot's of them IMO do not want any new comp in their little domain game biz! Do what you have to do & mistakes will be made. Keep learning that's what i'm doing. GL!

 

[Phronesis]

Just pull some threads in the legal section from people who have gotten hammered with lawsuits over TMed names. That's why people suggest staying away. It's up to you but you're playing with a loaded gun and have to ask if it's really worth the risk.

Typos of generics is another story. Nothing wrong there.

 

[producer007]

Mike (INTELBANK)

A great post, however, I have one question regarding point number 6.
This is my problem, skills, I have none but I am clear about what I want to develop and how. I always needed soemone to develop this or that. Is there a compnay out there that can/develops for newbies at a extremely reasonable rates? E.g blogs/sites etc to allow one to get started without loosing too much time trying to aquire the skills ina hurry.

 

[Phronesis]

Mike (INTELBANK)

A great post, however, I have one question regarding point number 6.
This is my problem, skills, I have none but I am clear about what I want to develop and how. I always needed soemone to develop this or that. Is there a compnay out there that can/develops for newbies at a extremely reasonable rates? E.g blogs/sites etc to allow one to get started without loosing too much time trying to aquire the skills ina hurry.

Fwiw, if you get a hosting package with something like fantasico in cpanel (I use Hostgator), you can basically point and click to install lots of free web software - blogs, forums, etc. It's extremely simple.

 

[producer007]

Phronesis, thanks but you really do not know how bad I am. I just signed up to hostgator and guesss what? I can't even set the domains addons....lol
It will be funny if it was not so sad. I suppose I am good at other things but not technical. The thing is that once I am shown, I know how to do it. I am thinking of paying someone to spend few hours with me and show me how - any ideas?

 

[Angela C]

I have to disagree with the statement in the first post, "Most of the time, freshly registered names aren't worth much".

I've registered several, quite a few, ok ok... lots of fresh domains recently that I believe/hope have value. Here's an example and my thoughts on why there is value.

iPlaceBets.com - I registered on Jan 27.
placebets.com sold for $60,000 at Moniker auction in May06
How negative can the i be considering iReport.com recently sold for $750,000?

I will admit that the research was done after the fact. Note to myself: research comes first from now on!

Any comments on my train of thought?

Angela (will always have a day job

 

[Phronesis]

Phronesis, thanks but you really do not know how bad I am. I just signed up to hostgator and guesss what? I can't even set the domains addons....lol
It will be funny if it was not so sad. I suppose I am good at other things but not technical. The thing is that once I am shown, I know how to do it. I am thinking of paying someone to spend few hours with me and show me how - any ideas?

Have you tried the FAQs?

I have to disagree with the statement in the first post, "Most of the time, freshly registered names aren't worth much".

I've registered several, quite a few, ok ok... lots of fresh domains recently that I believe/hope have value.

I think that's the crux of the issue... answering the question, "what is your domain's value and where does it come from?" Unfortunately, using comp sales is not a guaranteed indication of value because there is always the possibilty your name will not sell. The 'value' of iReport.com was probably relatively low compared to it's ultimate sales price until the right end-user with the right motivation and budget came along. And there's no guarantee that the 'right' end-user will ever come along for a lot of your fresh registrations (or even for decade old quality generics!). IMO, the value of anything is what you can sell it for right now - ie, liquid value. LLL and LLLL.coms have 'value' because there is currently a relatively liquid market for them. Generics have inherent value because they generate click revenue and those kinds of names are in high demand.

There is always the possibility that some end-user will see great value in your domain, but if no one ever does, (and assuming it doesn't generate it's own revenue) your domain is ultimately worthless.

 

[Rob J]

A parked domain only has to make .50 per MONTH to pay for itself, so don't fret about domains that only get a click a week (worry about the ones that get no clicks at all!)

 

[soggyindo]

You do have options then: Own domains for PPC. Develop domains for the long term. Buy undervalued sites and spruce them up for flipping. No one said that Flipping is restricted to Real Estate.

Lots of good points here.

I'd like to ask if there is a thread somewhere at NP about average earning figures? I only seem to read some people alluding to big figure cash-ins, or others to never making any sales or significant income. But not much in-between stuff I can find.

I guess everyone's skills are different. But reading about different people's average parking revenue, or development revenue, resale profits, after 6 months, 2 years, etc etc would be a nice way for newbs to get grounded/ realistic about what might lie ahead for them.

For instance, how realistic is the aim of earning $250 (or $500) a week from developing good names with affiliates/ adsense, after 6 months in the business? I've got no idea if that is ridiculous, or absolutely obtainable.

Perhaps this sort of info is kept close to the chest - or it's just not done to ask - if so that's cool and would be important for newbs to know, too.

 

[Goodwill]

Reality rules ! :great:
One of the nicest post(Advice,I favor).
Many Thanks

As a new domainer,

.5, Patience. It's a virtue, but also the key to surviving the domain game.

1, read the NamePros legal section FIRST! it's too easy to fall to the temptation of registering a name that actually is trademarked by someone else.

2, Either have a broad understanding of internet/domain dynamics or pick your niche(s) that you're well versed in. Why? Because in your area of expertise, you will know future developments, trends and product launches. This level of knowledge can give you a comfortable head start.

3, End User is KING!

4, Unfortunately, this industry is HIGHLY competitive. While NP has a great community, at the end of the day, everyone is striving to protect their interest, so don't expect anyone to share knowledge just because your name/NP ID is cute. (To this day i'm trying to figure out how some people are doing it: Spade, NameTrader, Yofie - just to name 3 that came to mind first...)

4.5, If you have "deeper" pockets, familiarize yourself with the Domain Auction Houses, such as Snapnames, TDNAM, Sedo, etc. and be on the lookout for drops - which is a science in itself....

5, PPC or Development. Never let your domains sit there and generate money for the likes of GoDaddy, etc. Once you own the domain, IMMEDIATELY park it until you get to develop it. While development should ALWAYS be the goal, there are some domains that are better being parked.

6, If you don't have these skills already, GET THEM! ASAP!! Which skills? Oh yeah, development (the evil word) ! It's vital, it's essential, it's your golden egg in the basket that you don't own just yet. Basic HTML, .php, JavaScript. Then there's the graphic aspect. Photoshop (Fireworks), Flash, etc. You don't have to be an expert, but you should be knowledegable to a certain extent, it's going to make your life easier.

6.5; You do have options then: Own domains for PPC. Develop domains for the long term. Buy undervalued sites and spruce them up for flipping. No one said that Flipping is restricted to Real Estate.

7, The most convenient solution for domainers: Domain Tasting. There's quite some controversy about this topic, I for one absolutely am in 100% favor of this practice. Make use of it with every domain you register. Some registrars are charging a small fee for tasting, which in the end will still save you tons of money. Register > Park: you realize that the domain you registered is insufficient in self support through parking > cancel the domain.

8, Network. Network and while you're at it, Network some more. It's all about who you know, how well established you are, your reputation, honesty, ethics, etc.

9, Read first, then ask. While new domainers are quickly forgiven when they ask redundant questions or questions that have been answered a billion times, nothing is more questionable than seeing the same question 10 times when the answer is sitting in the thread that's just one click away. If you read the threads and the answer is still not clear -> Ask as much as you can. Contradictory? Not really. Just Read > Then ask

and the final #10, Be Persistent. Domaining as opposed to Stock Trading is not a business of dynamic. It's asking for a steady hand with sometimes long term vision.

That's my 10cents of domainer's knowledge. I should adhere to most of these points myself. But as always, it's easier to preach than to actually do.

IB

 

[NameCharger]

Drop auctions: When participating in auctions (namely Snap/NameJet/Pool), don't test the waters by bidding up to see how high the other guys will go, you may end up outbidding them and have some expensive : oops : in your portfolio.


Whois records: Newbies tend to use whois privacy too often and waste money. My advice to US residents is to get a PO Box to use for the address for all whois records and get a free phone number/voicemail at ringcentral.com. When you have good domains, people will contact you by looking up whois info and the easier it is for them to contact you, the quicker you may be to a sale.

 

[Ross]

Just remember a $6 profit is still a profit. Plus that pays for a fresh reg that could potentially be worth thousands

 

[1NiteStand]

tpruby provides some very good advice, not to mention Mike's as well.. Read, learn, apply. +rep for both.

Oh yeah, do keep your day job, at least until you know that you don't need it (I mean really know.. not predict

 

[bizcorp]

Look for domains in which you can think of end users for and there is a constant demand for these domains. When starting out invest your money into solid .coms and not into new speculative extensions (a good example of this recently is .me) you may get lucky - but you also may need to wait awhile before the extensions really kick off.

 

[domaino]

Excellent advice, spot on. Rep added.

As a new domainer,

.5, Patience. It's a virtue, but also the key to surviving the domain game.

1, read the NamePros legal section FIRST! it's too easy to fall to the temptation of registering a name that actually is trademarked by someone else.

2, Either have a broad understanding of internet/domain dynamics or pick your niche(s) that you're well versed in. Why? Because in your area of expertise, you will know future developments, trends and product launches. This level of knowledge can give you a comfortable head start.

3, End User is KING!

4, Unfortunately, this industry is HIGHLY competitive. While NP has a great community, at the end of the day, everyone is striving to protect their interest, so don't expect anyone to share knowledge just because your name/NP ID is cute. (To this day i'm trying to figure out how some people are doing it: Spade, NameTrader, Yofie - just to name 3 that came to mind first...)

4.5, If you have "deeper" pockets, familiarize yourself with the Domain Auction Houses, such as Snapnames, TDNAM, Sedo, etc. and be on the lookout for drops - which is a science in itself....

5, PPC or Development. Never let your domains sit there and generate money for the likes of GoDaddy, etc. Once you own the domain, IMMEDIATELY park it until you get to develop it. While development should ALWAYS be the goal, there are some domains that are better being parked.

6, If you don't have these skills already, GET THEM! ASAP!! Which skills? Oh yeah, development (the evil word) ! It's vital, it's essential, it's your golden egg in the basket that you don't own just yet. Basic HTML, .php, JavaScript. Then there's the graphic aspect. Photoshop (Fireworks), Flash, etc. You don't have to be an expert, but you should be knowledegable to a certain extent, it's going to make your life easier.

6.5; You do have options then: Own domains for PPC. Develop domains for the long term. Buy undervalued sites and spruce them up for flipping. No one said that Flipping is restricted to Real Estate.

7, The most convenient solution for domainers: Domain Tasting. There's quite some controversy about this topic, I for one absolutely am in 100% favor of this practice. Make use of it with every domain you register. Some registrars are charging a small fee for tasting, which in the end will still save you tons of money. Register > Park: you realize that the domain you registered is insufficient in self support through parking > cancel the domain.

8, Network. Network and while you're at it, Network some more. It's all about who you know, how well established you are, your reputation, honesty, ethics, etc.

9, Read first, then ask. While new domainers are quickly forgiven when they ask redundant questions or questions that have been answered a billion times, nothing is more questionable than seeing the same question 10 times when the answer is sitting in the thread that's just one click away. If you read the threads and the answer is still not clear -> Ask as much as you can. Contradictory? Not really. Just Read > Then ask

and the final #10, Be Persistent. Domaining as opposed to Stock Trading is not a business of dynamic. It's asking for a steady hand with sometimes long term vision.

That's my 10cents of domainer's knowledge. I should adhere to most of these points myself. But as always, it's easier to preach than to actually do.

IB