Post One Bit of Advice to Make More Money Domaining

[accelerator]

Hi Guys

In this thread, please post one bit of advice to make more money domaining. Just give one bit of advice per post. By the end of the thread, we should have a collection of valuable tips about how to make more money with domaining. If the thread slows down, then I will keep it going with some posts of my own at regular intervals. However, I am hoping that other forum members will give advice too, don't worry if you're inexperienced, just make a contribution.

To post in the thread, you must give at least one bit of advice of your own, not just be commenting on someone else's advice.

OK, I'll start:

Firstly, learn from industry leaders. Identify key people in the domaining space, and read what they have said about domaining in the past. There is a wealth of information out there, and it will make you much smarter and more successful.

OK, who's got the next bit of advice?

Thanks

 

[DavidH]

Learn to be patient - don't go digging up your crop before it has had time to grow!

 

[Skinny]

This may seem obvious but don't fall into negative mental traps.

If you think all good domains have already been registered, or can't be bought then you're defeating yourself.

Obviously your budget can constrict you on the beginning, but don't think it won't be possible to own awesome domains in the future.

Get creative. Think Different. Read as much as you can. Learn what makes domains valuable.

 

[Theo]

Follow your gut feeling.

 

[Johnn]

Read - learn - buy and pray.

 

[lotk.com]

I agree with Acro... Follow your gut feeling and stick with what you know. If you're not sure, research before buying.

 

[accelerator]

Work out which industries spend the most on advertising, and you have a good indication of the industries in which the most valuable domain names can be found.

 

[Willox Perez]

Write down a plan of action and the daily tasks that must get done in order to achieve your long term goals in
Domaining then remain consistent day in and day out.

Fall in love with the process and the results will come!

 

[katherine]

Excellent advice here above.

Mine:
Watch and analyze the market carefully, see what sells and what doesn't. Which extensions, what kinds of niches etc.
Like with any investment, wishful thinking is not a strategy.

 

[accelerator]

Think high quality. For example, with antiques, it's better to be prepared to pay more for the acquisition of a high quality antique, as you will be able to find a buyer that appreciates the quality and pay you well for it. The same is true for domains. Don't be tempted by second rate extensions, or by domains that are almost the same as ones that have proven valuable. Buyers won't be convinced by second rate domains, so don't bother with them. Always think quality.
 
Signup for a Google AdWords account, and then you can get an idea of CPC rates for a given keyphrase. The higher the CPC of a given keyphrase, the more valuable a domain containing that keyphrase is likely to be.

Who else has some advice?
 
A domain should pass the radio test, i.e. you would spell it as you hear it.

Who else has some advice?

 

[Poker]

The truth hurts, that's why you won't hear it often and why people don't try to sell it. Most people sell hype. Why? Hype sells.

Focus on the truth, the reality.

• It's a job, it's a hard job, a grind.
• You have to study, you have to work hard, you have to grind day in and day out, every day.
• You need to do it because you are drawn to it, because it's a passion for you (investing). If it's not, find something else that is.
• It's a lot of "alone time". Researching, tracking and thinking about domain names.

It's not a dream, it's a reality, but only if YOU make it one.

 

[angel69]

1) Be patient. That is not easy. Don't expect quick money, sometimes it takes years to sell a domain you consider valuable
2) Don't overpay for any name, which means you have to gauge the market and conclude what type of market you're in and what's coming, see what domains will sell well, what exts are sure losers, etc
3) Never get caught in bubbles or buyouts, you just can't tell if that's what they really are to begin with. And even if they are they may not last (bubble) long enough for you to profit from them, and they may stop and get reversed anytime, and that's painful. Or such buyout may not be so permanent. A real buyout is permanent meaning those domains are taken out of the market
4) Never go for the newest gTLDs, at least not right away, you could be paying a fortune in reg for a lousy ext and a domain with no resale value. Ditto for ccTLDs too expensive to carry with low resale prospects
5) Always follow your gut. I cannot stress that enough providing you're educating yourself and reading (plus knowing what readings to believe lol !) Just sit back and watch if you don't know what to do

 

[accelerator]

Develop a routine and system for your domaining, e.g. you spend 30 minutes per day watching online marketplaces etc, whatever works for you.

 

[SmartDomainSale.com]

These tips worked for me:

• Analyse sold domain names. Few months after the sale, check the usage of the domain name. That way you can get a better feeling for domain values.
• Domain names with (fair) price tags sell better than without any price information. That is escpecially the case for domain names with average quality.

 

[dcristo]

Only register domain names you would consider developing.

 

[angel69]

Although acronyms and numericals proved to be winners over time, try to reg (you won't have many choices this late in the game) and buy only domains you'd like to own (that you're OK possessing even if not developed and/or they can't be sold), and also domains others would want. This last point is often lost on domainers looking for revenue alone, which may change anytime

 

[Shane]

If you're profitable, stick with what you know!

Everyone wants to be or have something they aren't or don't.

 

[ulterios]

If you're profitable, stick with what you know!

Everyone wants to be or have something they aren't or don't.

Perfectly stated Shane. If you are doing well, stick with what works. Grow it, improve it, but if you are doing well then don't F' with success.

Too many wanna' be copycats that are just wasting their time.

+1

 

[Dushan Savich]

Automate everything you can.
There's more than one way to skin a cat.
If you want to buy a domain think about it for another 24h, never impulse register.

 

[ulterios]

If you want to buy a domain think about it for another 24h, never impulse register.

This is a great point to make. Too often people will buy a domain on impulse. If you wait a day or so (if you can), many times the domain doesn't sound as good as it did the day before.