Is domaining right for me?

[yummayumma]

I got interested in this business last spring, when Online poker started to fall apart. With poker, I started small and learned as I went along. As time went by, my knowledge and bankroll grew. I have read forums and articles, and see domaining kind of like poker. It appears that I can start small, and begin seeing results right away. I don't necessarily mean $, but traffic, clicks,etc. Something that I can analyze and keep changing/tweaking as my knowledge grows. Like poker, it seems like there will always be more to learn, different strategies, and things to adapt to. I want to take this up as a hobby and if my interest stays high, see where it takes me.

While I've read a bunch of stuff so far, I'm still uncertain about what you guys actually do. Is this mostly about earning as much revenue thru things like ad-sense? Or writing content? How do you decide what to make a website about? Is it things that interest you, whats getting the most traffic, etc. Obviously there's several different ways to be successful in this field, I'm curious to hear about them!

 

[dcristo]

You need significant capital in this current climate and a eye for good domains to make more then chump change and I'd dare say some luck too. If you don't have that, look at development of a few good domains. But as for starting small and seeing results straight away in the domaining business, that just doesn't happen. The guys making weekly sales have huge portfolios and got in this business early.

 

[urlurl]

I do agree with dcristo development of some key names can pay dividends down the raod and are usualy the best way to invest - there are also still oppurtunities to make money with smaller capital amounts, the key here is to take it slow, read what you can and expect to make a few mistakes along the way. Being part of this forum and reading what i can has limited the amount of mistakes i have made since i started. You may also want to decide what type of investing you want to look at - Revenue Parking names, Website devepoment or Buy/Hold/Flip. Good luck

 

[silentg]

Here's some links to get you started > http://www.dnforum.com/f34/tips-resources-newbies-thread-466875.html

Start off with investing in good keyword expired .com domains.

 

[yummayumma]

I'm not sure if I wrote the wrong phrase, I'm getting used to the lingo. To start, I want to register a domain, develop a site and figure it out while I go along, learn from mistakes, etc. I'm guessing it would take years for a newbie to make good $. This field is so big, it's hard to know where to start + weeding out the good content from the outdated/bogus stuff on the web. Silentg's link is a good start. It already saved me from looking into buying ____42.com (like vacation42) I'd love to see more links or vids that are valuable for someone curious about the industry. (or a link to a thread about it, I'm sure there's one around here) Anyhow thanks for reading, I'm gonna get back to reading the forums here!

 

[Skinny]

My best advice (and I'm not a huge success story or anything) is Read, Read, Read.

Many new domainers come in with a lot of energy (which is good) and quickly spend a lot of money on garbage domains that won't sell (obviously bad).

Don't feel that you're losing because you aren't buying anything (or a lot) just yet. I didn't overspend too much when I first heard about domaining, but some will spend thousands and thousands on domains that are all worthless.

So read the newbie section of DNF. Read DNJournal.com and see the what domains are selling for, but most importantly WHY they are selling for those prices.

Then you can invest/buy domains more wisely.

I would stick to .com if you are starting out. Read and do research on what keywords sell, why do people buy domains, how to sell domains (this ones important).

Domaining is not easy, you will not get rich quick, and it is a lot of work.

But the more you learn the less money you will lose at the beginning. You will make mistakes, but it's better to learn as much as you can.

Skinny

 

[urlurl]

My best advice (and I'm not a huge success story or anything) is Read, Read, Read.

Many new domainers come in with a lot of energy (which is good) and quickly spend a lot of money on garbage domains that won't sell (obviously bad).

Don't feel that you're losing because you aren't buying anything (or a lot) just yet. I didn't overspend too much when I first heard about domaining, but some will spend thousands and thousands on domains that are all worthless.

So read the newbie section of DNF. Read DNJournal.com and see the what domains are selling for, but most importantly WHY they are selling for those prices.

Then you can invest/buy domains more wisely.

I would stick to .com if you are starting out. Read and do research on what keywords sell, why do people buy domains, how to sell domains (this ones important).

Domaining is not easy, you will not get rich quick, and it is a lot of work.

But the more you learn the less money you will lose at the beginning. You will make mistakes, but it's better to learn as much as you can.

Skinny

i agree with skinny, take your time, read, and experience. keep in mind what is good for one person may not be right for you so take everything with a grain of salt.

also use your common sense when buying a name, a good acid test when deciding "could/would i use this name myself for any development" if the answer is no, than most likely no one else would either. extra tips; Try to put yourself in the end users heads, stay away from TM and celeb names, dont buy names in a short lived or dead end industry, (VHS, CD's etc), keep it liquid - "would i be able to get a least my investment back if i had to sell quickly". have patience and working capital, stay within your budget, don't quit your day job and have fun with it.

my simplified formula for a sale

The righ name + right time + Luck + the right buyer = sale

 

[chipmeade]

Is Domaining Right for me?

In all seriousness, if you have to ask after the months that you have been involved, it probably isn't. You either fall in love right away and begin losing money at the onset or you become a tentative, fractionally invested wannabe without the fortitude needed to succeed. Might as well bail at this point. Good luck.

 

[urlurl]

a little harsh, lol

i think hes just looking for some advice,

 

[Vincent]

urlurl, I like that formula.

So when will I make my next sell, then?

 

[DN BROKER]

The question is are you right for Domaining!

 

[urlurl]

urlurl, I like that formula.

So when will I make my next sell, then?

that's the thing - there are alot of variables. you need all of them to fall into place... including time

 

[Vincent]

Is domaining right for me? Am I right for domaining?

Does she love me? Does she love me not? That is the question.

I'm not an expert but I've been buying and reading, dropping, and losing money all along. I sell once or twice, but haven't really made money doing it. But I still love it? I don't ask if domaining is right for me, though. I guess, I have some money to lose. Had I been so broke or gone broke from domaining, I would have been bitter about it.

For me, domaining is just interesting. I keep thinking I will get better at it. I think if you stick to it enough, you'll make money. Everyone I asked or listened to told me that you will lose money in the beginning. It's a matter of big or small. If you stay here long enough, read enough, and ask plenty of questions, one day you'll get lucky. Then, you'll get all hyped up and start calling yourself a domainer. That's what happened to me lol.

 

[urlurl]

over all im up since i started so i can't complain (and lucky) , but development is where the money is really, the flipping is just a side bonus. at least for me.

 

[DN BROKER]

To be a winner in this game their is a secret and the secret is __________!

Good Luck

 

[Vincent]

And the secret is _________

 

[urlurl]

secret is LUCK! - oops sorry i let it out, my bad


and you have to be Canadian, lol

 

[Vincent]

Secret is Luck! lol Had I known this, I wouldn't have been reading, asking so many questions. Now I know the secret lol.

 

[urlurl]

there is no secret, you make of it what you can and you make from it what you can.

 

[katherine]

Development is not the same as domaining.

Domaining is more about buying/trading/reselling domain names at a profit, or monetizing them through more or less lazy schemes like parking.
Development & SEO is webmaster stuff. But you could develop a website with quality contents, have it rank well in search engines, monetize it with affiliate or adsense. Then you have a revenue-making domain & website (provided you continue to maintain it). A developed website with traffic and revenue can be sold. See specialized marketplaces like Flippa.

There are plenty of ways to make money with domain names, or more generally the Internet.

secret is LUCK! - oops sorry i let it out, my bad

and you have to be Canadian, lol

If you're Canadian, it already is luck :approve: