seriously considering quitting job

[WebsiteTraders.Com]

All The Best Cleverly!!

 

[james2002]

Good luck.

 

[LightsOfRay]

The amount of cumulative knowledge on this one board is staggering, I own a few domains more for fun then anything else, but I love reading what you all say. I always find it enlightening and entertaining at the same time. I do, however, consider myself the ultimate novice at domaining. I have no real conception of what determines a “good” domain name, nor do I have any idea on how to develop one. With that said, I believe most of you who do this full time love it, and I want to know how to get started. I have invested in a few .com and a few .me domains. My .coms include LivingNano.com and LocationBasedComputing.com. I only registered them because I thought they were good names based on a hunch. That’s not enough. I also got a few .ME domains which at the time I believed to be a spectacular speculative play – Undress.ME, BidOn.ME, WillYouMarry.ME to name a few. Depending on how the market reacts to .ME I still think I can profit from these purchases, but my question which I also believe many others have, especially those like me who wish to do this full time is…
What makes a good domain name?
I know. Research. Tons of it. But what kind? What do I look up? How do I know a name is marketable, and can’t get me in a fun little lawsuit?
What about development? I have grand ideas for all my domains, but haven’t the slightest idea of how to actually implement them. Are there people on this board who are looking for partners? Who are willing to mentor? To develop for a percentage of the site?

I have been reading this board for a very long time, but just recently purchased a membership because my curiosity is growing and growing.

From the months and months I have been reading this board, you all seem very friendly and helpful and I hope you can help me and all my fellow newbies.

(This post seems appropriate here, but if it should be a new topic instead I’m sorry)

 

[WebsiteTraders.Com]

Welcome LightsOfRay,
First let me congatulate you for taking the time for reading the forum before jumping in that many of us have done. From what I see, you seem to have a calm and rational mind & willing to go into it slowly. Thats a bigg bonus. Read the beginners section time n again ( i still got to read lots of it), then act on it slowly and see where the money is coming from, when you start, you will face different situations which you can ask in the threads,
All The Best,
Farhan.

 

[copper]

What makes a good domain name?

Short.
Memorable.
Impossible to misspell.
Keywords

For beginner, Estibot.com is good tool.
Higher # for Overture and Wordtracker is good.
Frequency - This is like double edged sword.
Low Freq # - good when you want to develop since that means less competition.
High Freq # - good when you want to sell since that means you'll have more potential buyers.

]What about development? I have grand ideas for all my domains, but haven’t the slightest idea of how to actually implement them. Are there people on this board who are looking for partners? Who are willing to mentor? To develop for a percentage of the site?

Post question when you decide which domain you want to develop
As you said, DNForum has tons of kind soul

 

[blogcrash]

i quit my job some months ago...

and i'm almost dead!!!

happy... but almost bunkrupt!

 

[james2002]

i quit my job some months ago...

and i'm almost dead!!!

happy... but almost bunkrupt!

Are you going back to your job?

 

[blogcrash]

Are you going back to your job?

no... i don't think so!

i think i'll try to breathe more 3/4 months ...

then i'll see! :smilewinkgrin:

I believe i have some good domains in my portfolio.

So.. i just need to way enought to find the right buyer for one or more!

Ok, i need some luck! eheh

I'll continue working hard, reading a lot, making research, learning with the guys here in dnforum, investing some more money... and wait for some luck!

In the end of April i'll see what to do

We need also to believe in luck... and work hard to find some

 

[james2002]

no... i don't think so!

i think i'll try to breathe more 3/4 months ...

then i'll see! :smilewinkgrin:

I believe i have some good domains in my portfolio.

So.. i just need to way enought to find the right buyer for one or more!

Ok, i need some luck! eheh

I'll continue working hard, reading a lot, making research, learning with the guys here in dnforum, investing some more money... and wait for some luck!

In the end of April i'll see what to do

We need also to believe in luck... and work hard to find some

Do you mean your domains listed in your site in signature?

 

[blogcrash]

Do you mean your domains listed in your site in signature?

yes... don't tell me... they are so bad? :uhoh:

eheh!

 

[fpattberg]

I started going it alone about a year ago. But my strategy was to have several ways of earning money next to following my overall goal. Not just domaining but so website development and some consulting work.

So far this has really paid of for me. I am earning enough money to support my family and I am a lot happier. And 2009 will be even better I hope (it is looking good so far).

If you have the possibility of selling your expertise in a "consulting kind of way" (I do not know what you do/did for a job) then I would do that as well.

This would be my advice.

Best of luck to you and everyone else that contributed to this thread.

Cheers,
Fabian

 

[james2002]

Yes, website development could be good option esp if you know how to do SEO.

 

[blogcrash]

I started going it alone about a year ago. But my strategy was to have several ways of earning money next to following my overall goal. Not just domaining but so website development and some consulting work.

So far this has really paid of for me. I am earning enough money to support my family and I am a lot happier. And 2009 will be even better I hope (it is looking good so far).

If you have the possibility of selling your expertise in a "consulting kind of way" (I do not know what you do/did for a job) then I would do that as well.

This would be my advice.

Best of luck to you and everyone else that contributed to this thread.

Cheers,
Fabian

Thanks Fabian,

I'll also start taking care of some websites...
yes... i'll start serious developing on 2/3 domains.

No Pain, no Gain!

 

[james2002]

Thanks Fabian,

I'll also start taking care of some websites...
yes... i'll start serious developing on 2/3 domains.

No Pain, no Gain!

Yes, you got some good domains for development.

 

[blogcrash]

Yes, you got some good domains for development.

Thanks James

 

[fpattberg]

No Pain, no Gain!

Totally true.

Best of luck,
Fabian

 

[blogcrash]

Thanks once again Fabian

 

[Marketing Guru]

It seems that most of the people who make a living have been involved in domaining for enough years to have accumulated a set of good names from hand reg, drops and early deals.

What I keep reading in the forums these days is that domain sales have dried up, and resellers simply aren't buying right now. Because of this downturn, a smart domain investor with lots of capital can begin to pick up some high quality domains at a fraction of the price they were selling for two years ago. Now is a great time to keep your income and invest it in buying names to build up your portfolio first. I'll say that again. Your best investment in domaining is to keep your current income and invest it in domains, spend your off hours shopping for great bargains.

Once you have a decent domain to develop, going after end users with a sound strategy of targeting, development and marketing seems plausible. But remember that end users don't know the value of domains in resell terms, only in the value that the domain could bring to their specific business. And a good way to do that is to actually develop the domain, point traffic to the potential client(s) and become a source of leads for them prior to pitching the sale.

So I suggest actually going through those steps of choosing a target, developing a domain, building traffic and pitching it, even if it means spending some of your day job income to hire an inexpensive developer to do some of the dirty work for you that you don't have time to do or learn.

Your day job income is your biggest asset right now, if you are able to lose the income, instead try keeping the income but investing it in hiring other domainers and developers to complete your first project for you.

Then you can get a great idea of the realities of this business without minimal risk and minimal effort.

Good Luck!

- Marketing Guru

 

[Domainate.com]

So I suggest actually going through those steps of choosing a target, developing a domain, building traffic and pitching it, even if it means spending some of your day job income to hire an inexpensive developer to do some of the dirty work for you that you don't have time to do or learn.

Your day job income is your biggest asset right now, if you are able to lose the income, instead try keeping the income but investing it in hiring other domainers and developers to complete your first project for you.

Your post is over a month after the date he indicated he was quitting.

It honestly depends on the job...if it was a well paying one, it might have been worth keeping while building a portfolio. In my case, I was making what was in my opinion very little, and especially when one sale made up over a year and a half of "day job" income, there was no valid reason I could come up with to keep the job. Now, times are tough thanks to the economy, the condo I bought with a hefty down payment money from domaining has gone down almost twice the amount of my down payment (funny when you've heard all your life that real estate is the best investment you can make and it turns out to be the worst), BUT I'm still 100% confident I can remain job free and continue to be a full-time businessman vs. working for someone else. Just don't take it lightly - it's easy once you quit your job to lose the discipline, but you'll find quickly that you can't afford to do that.

 

[cleverlyslick]

i already quit my job on jan.9.you'd be happy to know (or so i hope) that i've been doing well since then.a few sales have kept my head afloat so for now no reason to work for anybody but myself.

GOD BLESS AMERICA :smilewinkgrin: