Poll: Who is Really Making a Living at This?

[Duke]

I thought it would be interesting for everyone to see just how many people here are actually making a living from the domain name game that we all love.

Newcomers keep pouring into the field with the belief that there is easy money to be made. Within a few months, reality slaps them in the face and they realize they would have had better odds of success at the roulette wheel in Las Vegas.

My guess is that a poll will show that the vast majority of members here have real jobs and make only a small portion of their annual income from this field (or no income at all from it).

Not that that makes the game any less fun or addicting, but I think it would be healthy for people to realize what they are in for.

Everyone will fall into one of the five categories. It is an anonymous vote - so don't be shy.

Those who are willing to share your experiences since they entered the field, please post your replies. Tell us how you advanced from newbie to wise man (or poor man which probably came first!). I think it will be instructive for everyone.

P.S. For your answers to be meaningful you will have had to be in the business for at least several months to see your income trend from domain names. The purpose of the poll is primarily to show newcomers how people who have walked the path before them are faring.

 

[Duke]

One other thing - Selling $100 worth of domains does not mean you have made money at it if you have spent $1000 on reg fees and are still sitting on a boatload of names (in that case you are still $900 in the hole).

You have only made money if you have taken in more money than you have spent on reg fees. The names you are holding may or may not be an asset (only the bonafide buyers will determine that).

 

[Donna Mahony]

Took us 3 years to get here, but this is our only income now!!

 

[bidawinner]

I turned developer 2 years ago DUKE ..every month I still sell 1 or 2 domains though..

I like the idea of my domains not only earning their keep but increasing their resale value...

 

[Donna Mahony]

Guess I have to correct that.. i make my living from domains, but not just selling

 

[Duke]

Glad to hear that winfree! People may look at that 3-year time frame and think that is a long time, but just about all businesses take 2-3 years (or more) to become profitable (if they ever do) - no reason this one would be any different. Just goes to show, this is a business like any other. It takes a lot of hard work and perserverance to succeed.

Bid, I only got involved in the business earlier this year. Each month I am leaning more and more toward your model as the way to go. I already had an established retail web site that continues to be profitable. Having that steady income gives you the freedom to test the DN waters without having to rely on it to cover the bills. I think it's a smart way to go.

 

[PrimeDNR]

Originally posted by winfreecash
Guess I have to correct that.. i make my living from domains, but not just selling

Dear Winfreecash

You are great, I only sell one or two per month.


How can you achieve that? Can you PM me? Or let me have a look of your website?

Many thanks

PrimeDNR

 

[Donna Mahony]

Originally posted by PrimeDNR


Dear Winfreecash

You are great, I only sell one or two per month.


How can you achieve that? Can you PM me? Or let me have a look of your website?

Many thanks

PrimeDNR

I will be happy to send you a more detailed PM tomorrow but for now my best advice:

Keep your reputation clean. You only get ONE!!

Your word is your signature on the internet..make yours GOLDEN !

If you need to say something negative, say it with kindness.

Nurture good relationships.

I learned everything I know and met all my great "connections, advisors, mentors" right here in forums like this one.

 

[PrimeDNR]

Originally posted by winfreecash


Keep your reputation clean. You only get ONE!!

Your word is your signature on the internet..make yours GOLDEN !

If you need to say something negative, say it with kindness.

Nurture good relationships.

I learned everything I know and met all my great "connections, advisors, mentors" right here in forums like this one.

Many thanks winfreecash!

You are my senior, I will take your advice by heart.

I am looking forwarding to see your PM!

PrimeDNR

 

[options]

Originally posted by winfreecash


Keep your reputation clean. You only get ONE!!

Your word is your signature on the internet..make yours GOLDEN !

If you need to say something negative, say it with kindness.

Nurture good relationships.

That is difficult to learn.
I mean, you are or you are not.


BTW, I guess you main income is actually from developed sites,
not SOLD ones?
If so, would you please reveal from the first hand what is the best way to achieve that?
Banners, affiliate programs...??

I am very glad I hear a success story around.
All the best.

 

[DotComster]

Not a cent in three years - but a lot of Fun anyway

 

[Donna Mahony]

I have received so many PMs asking how I survive in this game that I started a new thread "tips from winfreecash". If the thread stays clean and a moron free zone I will continue posting as time permits and hopefully others will too. Enjoy!

I am by no means one of the big players here but I do make a living and I believe in passing along the kindnesses that were extended to me in the beginning.

 

[zoltan]

Congratulations winfreecash.

 

[lhague]

.....as far as domain names are concerned Im on bread and water!! but working in full time IT web developing, domain registration and other ecommerce stuff for http://baxter.com I felt I could extend my I.T. knowledge outside of my full time job. I only started looking at the domain name side last year but other businesses my husband I started are doing ok but it has all been trial and error since we started last July.

I feel any business opportunity on the internet as well as everything winfreecash states, is about setting realistic goals within a realistic timeframe and with those two focuses, a great deal of patience and persistance..... giving up is all too easy and the biggest failure of most....

 

[Drewbert]

>Everyone will fall into one of the five categories.

I disagree.

You need another one:

I make 100% of my income from domain names, but prefer to see regular income from them rather than selling them.

I believe winfree is in this category, along with me a a whole heap of others.

 

[Duke]

Drewbert: I have never doubted that people could make a living from developing and working their domains. I totally agree that is the smartest way to go.

That's not who the poll is aimed at. We get so many newcomers who think the path to riches is to register a name for $8 and sell it the next day for $10,000. To explode this fallacy, the point of the poll is to show that the person making a full-time living off doing nothing but buying and selling names is a rare bird.

 

[Donna Mahony]

I make 100% of my income from domain names, but prefer to see regular income from them rather than selling them.

I believe winfree is in this category, along with me a a whole heap of others.
****************************
I agree 100%. Unless I am cleaning house, funding an upcoming project etc. I HATE to sell a domain. I don't know ONE person who can say they make a living buying and selling domains.

I know MANY will argue this, but my opinion is that "brandable" and "new extensions" are the death knell to your internet business.

If you want to make that "big score" sale, register a domain you know you can make money with. It costs an average of 3 cents
a day for a domain to earn its keep. You don't need to give up the dream of the "big score" but make that name earn til the dream comes true.

 

[Duke]

I don't know ONE person who can say they make a living buying and selling domains.

THAT's what I am getting at. I am usually pretty good with words, but winfreecash smoked me with that eloquent post!

So many people jump into this and drop hundreds of dollars on bad names because they do not realize this is a business just like any other - you have to work at it to make a living.

If you are interested in this field, do yourself a favor and print winnie's post and stick it on your computer monitor where you will see it BEFORE you register that next name!

The way I designed the poll, winfree and drewbert, while both are successful at what they do, should actuually be in the category of 0-25% or 25-50% of their income coming from the actual sale of names (not knowing their specific situations). The point is they make most of their money from activity generated by good names, not from the buying and selling of names.

This is the first time I have posted a poll and I probably did not state the parameters very well. I would guess that the one quarter of voters who have said they make over 50% of their income from actual sales were actually including sales activity from their sites, not the selling of names.

 

[thinkaholic]

I make 100% of my living on the Internet. I would say 90% of it comes from domain name reselling. The other 10% is from my network of websites and design work. This 10% will continue to grow and will turn into a very steady income, but it does take work. All of my success revolves around domain names, though.

Here are my latest Ebay auctions.
http://www.developeddomains.com/ebay

It's been a roller coaster ride over the past 7 years, but I think domain names will always be a viable business if you know what you are doing. This means registering the "right" domain names and knowing how to get them before others do. It is a game, but a serious one with serious players.

I guess I consider myself a success story. It's hard to admit it to yourself. I started small and worked my butt off to get where I am now. In 4 years, I went from a 1 bedroom apartment to a 5 bedroom house. I just bought a new Mustang Convertible (it's sweeeeet!) and work from home full time. It involves long hours (it's 1:02am now), making mistakes, and moving on. But the sacrifices are worth the rewards. I don't want to sound like a broken record from a get rich quick scheme, but I really do get to spend more time with my family, buy crazy toys because I can, make my own hours, eat out every night if we want to, and basically do what I want. I'm always thinking of new ideas (hence the name thinkaholic) and I am a workaholic. I love what I do and give it 110% so I don't have to go back to the corporate world and make someone else rich. Tried it....hated it....quit it.

I was a newbie just like everyone else here was at one time. But given the opportunity, commitment, and desire, you can come out on top.

thinkaholic has now stepped off the soapbox and left the building...

 

[PrimeDNR]

Originally posted by thinkaholic
I make 100% of my living on the Internet. I would say 90% of it comes from domain name reselling. The other 10% is from my network of websites and design work. This 10% will continue to grow and will turn into a very steady income, but it does take work. All of my success revolves around domain names, though.

You are really great. How can you do that?


I still learning how to gain customer for the domain name.

You are my big brother!!



Regards
PrimeDNR