The best way to be a successful domainer is...

Paul123 · Apr 18, 2015

Hello all.

I first heard about domaining 3 or 4 months and made some daft mistakes buying worthless domains. My MO has now changed dramatically. Here is my 5 point plan for guaranteed (tongue in cheek face) success...

1 - Don't ever give up and never listen to naysayers.

2 - Read everything you can about domaining.

3 - Research everything you can about domaining. This is the key to success and there is a wealth of information on the internet. Research research and then research more.

4 - Check / watch at least 100 closing auctions every day to get a feel for what sells and what doesn't.

5 - Do the above for at least 6 months before you really get down to buying and trading domains. This is very important if you are a complete newbie like me. Meanwhile test the waters turning over a few $1 coupon hand-regs. If you lose a couple of dollars so what - who knows you might lucky and make a few. Stick with dotcom until you know what you are doing.

6- Put the time in everyday. If you work full time then research every evening and at the weekends. Get up an hour earlier and do some study before going to work.

7 - Read point number 3 again. Research research and then research more. Got it ?

8 - Use forums like this one to pick peoples brains. There really is a wealth of information on here.

This is a competitive business so don't expect quick success. One final tip - enjoy it. If you don't enjoy it then find something else to do.

These are my suggestions to help you build a successful business.

What are yours ???

Best,
Paul

Kate · Apr 18, 2015

Paul123 said:
1 - Don't ever give up and never listen to naysayers.

Why not ?

If they have a point to make.
While persistence is good, stubbornness is bad. I don't think that everybody can do domaining. It's more art than science. Some people are not cut for it, they should give up and move on to something else.

As for the rest, it sounds reasonable but you have not mentioned the most important yet: having the right inventory. In fact that's the only thing that counts. Even the best selling skills in the world cannot consistently move crap.

muttus · Apr 18, 2015

Great points.

I would add one more: Try to find out in what field of domaining are you having more advantage and put majority of focus there. Domaining is like tourism - huge field with many players and possibilities for monetization and finding one where you excel helps you to become successful much faster. On the beginning I have tried to grasp multiple aspect and as a result spending 8-10 hours a day searching for different types of domains with little to no success. Only when I started to focus on smaller niche I became more successful and more happy at the same time.

Good luck

Paul123 · Apr 18, 2015

sdsinc said:
Why not ? If they have a point to make.
While persistence is good, stubbornness is bad.

I am not sure I agree. Most naysayers tend to be negative people - listen to them to much and they will drag you down. Eight years ago I started my current business from scratch. Everyone said that won't work blah blah blah. The same people now wish they had tried and tell me what a lucky so and so I am. Luck had nothing to do with it - being persistent and stubborn did make a difference. My company is called Emerge (UK) ltd which is easy to find on Google. Eight years on and we are still here despite the downturn in the property market. This would not have happened without a certain amount of 'stubbornness'.

sdsinc said:
It's more art than science.

I agree 100%.

sdsinc said:
As for the rest, it sounds reasonable but you have not mentioned the most important yet: having the right inventory. In fact that's the only thing that counts.

As above !

muttus said:
I would add one more: Try to find out in what field of domaining are you having more advantage and put majority of focus there. Domaining is like tourism - huge field with many players and possibilities for monetization and finding one where you excel helps you to become successful much faster. On the beginning I have tried to grasp multiple aspect and as a result spending 8-10 hours a day searching for different types of domains with little to no success. Only when I started to focus on smaller niche I became more successful and more happy at the same time.

Excellent point. Try to concentrate in niche area's that you know something about. This could be knowledge from your business or your hobby - it's certainly a good start !

Best,
Paul

verbster · Apr 18, 2015

Ya gotta know the difference between being stubborn and being persistent, though.

Paul123 · Apr 18, 2015

verbster said:
Ya gotta know the difference between being stubborn and being persistent, though.

Very true Verbster. Sometimes people don't let go of a business that is doomed to fail. It can be hard for us all to let go of things - this is the life and human nature. However it is better to try and fail than not try at all. Many successful entrepreneurs have achieved success by being a little stubborn and being persistent IMO.

Best,
Paul

Paul123 · Apr 18, 2015

Just want to quote this post from another member and chuck it in the pot....

The Group said:
Hard work. Sound familiar? To some, it doesn’t. Sadly, it is a dying aptitude amongst the crowds and for some it has never “clicked” on. It seems that getting rich quick is the dream…well, I don’t blame you for wishing it so, however, I am here to tell you that you will likely never get rich quick. Especially in the domain industry.

The answers will never be handed to you on a silver platter and no one is going to hold your hand along the way. Success will not be given to you - it must be earned. There is no easy way and there are absolutely no shortcuts to becoming a successful and profitable domain name investor. NONE. NADA. ZIP. ZILCH. ZERO.

Take a step back and really let that soak in.

Are you willing to work harder than everyone else?
Do you want it as badly as you can breathe?
Does the thought of succeeding consume your every waking moment?

Ask yourself those questions and honestly answer them. There is a reason that a select few are at the top and stay there. It’s no fluke. They didn’t ask for hand-outs, they busted their a***s to get to where they are. They dug deep, researched the industry and they engulfed themselves in everything they could find in order to become a successful domain name investor. Most importantly, they never gave up. Ever.
What I’m getting at is this: if you want to become a highly successful domain name investor it all comes down to one thing: hard work. If you aren’t waking up earlier, going to sleep later, and working harder than everyone else and only seeking a quick and easy way to get rich, you will never make it. You have the world's biggest online domain conference right at your fingertips: NamePros. There is more information on here than you will ever need to become successful.

So how bad do you want it?
Are you willing to read every single post on NamePros?
Are you willing to watch every single DomainSherpa video?
Are you willing to look through every single listing there is on every auction platform?
Are you willing to scour through every blog post from every single industry related blog there is?
Read every single word on the internet that is related to this industry?
Are you willing to read every sales book ever written? Books on sales psychology? Negotiation tactics?
Are you able to soak up everything there is and only ask questions when you’ve exhausted every effort of your own to find the answers?!

How much work are you really willing to do? Because at the end of the day, what sets apart the successful people from the unsuccessful people is one thing: hard work.

As I said in the beginning of this post, this is not meant to be negative or to put you down, at all. I truly hope that this inspires you. I hope it ignites an explosion of curiosity and passion for you. I hope that you dream bigger, dig deeper, and push harder than you ever have to achieve your dream of becoming a successful domain name investor. This is one of those jobs that has more rewards than you can ever imagine. It is up to you to determine just how badly you actually want it.

Now, go get em’

This fella knows his stuff. I bet he worships persistence and being stubborn. It really doesn't matter what business you have - work hard and you will be successful. Plumber, lawyer, doctor, pizza delivery man, nurse or electrician.

I used to work for Perfect Pizza as a delivery guy in the UK. It was my first job - the lads I worked with the best ever. I moved on through hard work - do the same in domaining (or any other business) and the same apply's. Don't ever give up. Follow your heart and bang in some hard work - you will get there in the end. Nothing is easy in this life - if it was everybody would do it - maybe then it wouldn't be so easy..

I still think researching as much as you can will help you on your way. Did I do this ? Nah....

Will I do it now ? Oh yes.....

Give it your best whack. Maybe it works for you - maybe not. Better to try and fail than not try at all.

Best,
Paul

forge · Apr 18, 2015

Lie and cheat your way to the top.

cocaseco · Apr 18, 2015

sdsinc said:
Why not ? If they have a point to make.
While persistence is good, stubbornness is bad. I don't think that everybody can do domaining. It's more art than science. Some people are not cut for it, they should give up and move on to something else.

As for the rest, it sounds reasonable but you have not mentioned the most important yet: having the right inventory. In fact that's the only thing that counts. Even the best selling skills in the world cannot consistently move crap.

Why not? Because everyone else's experience is based on their unique circumstances and OPINIONS. Your unique experiences, circumstances and skills are different. Listen to what they say, and weigh it, but then follow what makes sense to you. Part of that listening is evaluating what trust you have in that person. How many hundreds of thousands of times throughout history has someone been told no, and then persevered anyway and found success? There are many pathways to success in anything, and that includes domaining.

I strongly disagree about selling skills. A good salesman can sell anything. Not only can he/she sell it, he can make the buyer feel like they just got the best deal in the world. Some people are cut out to sell and that's why salary jobs exist. But seriously, the colloquial saying of "selling ice to Eskimos" is an example of a good salesman. Just look at all the bad investments (crap), or bad real estate or bad products being sold every day....

forge · Apr 19, 2015

haha, i like the Dean Wormer quote. Classic line!

NameSee · Jul 28, 2015

Yes, just work hard, you will get it someday.
I am also a new domainer, 15 months old.

The best deal I obtained is ... the cost of a domain is only $20, I sold it at $3800. Another one domain costs $62.00, I received the highest offer $5000, but I refused to sell it, because it will be worth much more.
Have a great day.

NameFit · Jul 28, 2015

Just like many of us cannot be pizza guy and move up or have our own companies, I would rather generalize it by saying, everyone is not fit for everything. Some people find their niche and some never. You would never know what your niche is unless you try. One recipe does not cook all (dishes), and recipe is an art more than science.

namezest · Jul 28, 2015

Grab good names before anyone else does.

NameFit · Jul 28, 2015

Invest in .cow - so that you can milk them for long time..

Paul123 · Jul 28, 2015

NameSee said:
Yes, just work hard, you will get it someday.
I am also a new domainer, 15 months old.
The best deal I obtained is ... the cost of a domain is only $20, I sold it at $3800. Another one domain costs $62.00, I received the highest offer $5000, but I refused to sell it, because it will be worth much more.
Have a great day.

Well done. Can I ask what the domains are ? No worries if you don't want to say.

NameZest said:
Grab good names before anyone else does.

Maybe this was possible in the 90s but not so easy now. Drop catching is the only way to do it now IMO. Even this has become harder due to the auction process. Maybe you think different ? It would be interesting to hear your view.

Best,
Paul

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