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In spite of being a domain investor now, I have never being a real business person. My offline profession has nothing to do with finances or business in the strict sense of the words.
But something I realized early in domaining is that you have to spend money to earn money. If you are getting into domaining, especially if you are new, you might think it is enough to buy domain names and try to sell them. Of course, that is the heart of the business, but soon after you might realize (or not) that you need to invest in other things in order increase your income.
Sometime ago, one of my relatives got into domaining and, although he had already been able to make a few $XXX sales, was extremely reluctant to spend a cent on anything other than buying domains. He was even hesitant to buy Microsoft Outlook for his computer, which facilitates email contact with clients.
If don't spend money, your chances of increasing your earnings are minimal. But, on what should you spend money? In my case, here are some of the little expenditures I have made that have helped me grow my domaining business. Some of these expenditures are more productive than others, on some I realized the expense was not as worth it as I thought, but that is a different matter.
Microsoft Outlook
Paid advertising
Lead generation service
Software to catch deleting names
Domain Shop portal
A variety of Fiverr services
Backorder services
These are only some of the expenses. Each has been either rewarding or a learning experience of what not to spend the money on in the future. In short, spending money is essential to make money in domaining as in every other business.
But something I realized early in domaining is that you have to spend money to earn money. If you are getting into domaining, especially if you are new, you might think it is enough to buy domain names and try to sell them. Of course, that is the heart of the business, but soon after you might realize (or not) that you need to invest in other things in order increase your income.
Sometime ago, one of my relatives got into domaining and, although he had already been able to make a few $XXX sales, was extremely reluctant to spend a cent on anything other than buying domains. He was even hesitant to buy Microsoft Outlook for his computer, which facilitates email contact with clients.
If don't spend money, your chances of increasing your earnings are minimal. But, on what should you spend money? In my case, here are some of the little expenditures I have made that have helped me grow my domaining business. Some of these expenditures are more productive than others, on some I realized the expense was not as worth it as I thought, but that is a different matter.
Microsoft Outlook
Paid advertising
Lead generation service
Software to catch deleting names
Domain Shop portal
A variety of Fiverr services
Backorder services
These are only some of the expenses. Each has been either rewarding or a learning experience of what not to spend the money on in the future. In short, spending money is essential to make money in domaining as in every other business.
