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Domain Discussion
Domain Beginners and Newbies
Do You Make a Living At Domaining?
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<blockquote data-quote="Zenchi" data-source="post: 2192963" data-attributes="member: 97464"><p><span style="color: #333333">Thought I'd give a crack at answering your questions, I'm bored and up late editing invoices for the month.</span></p><p><span style="color: #333333"></span></p><p><span style="color: #333333"></span><strong><span style="color: #0000cd">1. Are you able to sell enough domains that you do not need to hold another job?</span></strong><span style="color: #333333"></span></p><p><span style="color: #333333"></span>Yes I sell domains full time and now have my own small team. Originally I started like many quite "late" around 06/07 however I was not interested in buying domains for $20 flipping for $500 not that I would pass up the opportunity even today. I invested $X,xxx and researched my first domain purchase and then flipped it for 5 figures within a month. From that day I was sold that this is what I wanted to do. I still buy and sell my own personal domains but I find brokering a much more fulfilling option and this is my focus and what my business is set around. Being able to work on premium domains worth from 6 figures to 7 figures and secure sales for clients is exciting and enjoyable and it never gets old. </p><p></p><p>Making contacts with corporations and interesting individuals along the way being able to speak to people like Steve Jobs prior to his passing on a deal and CEO's of Fortune 500 companies is quite an experience and then to have them place you on their cell for followups feels great. Also sometimes I may choose to wake up at noon it's my own schedule <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /> </p><p></p><p>For my clients who hold greater premium domains that sweet spot can be entry low-mid $xxx,xxx to $1,xxx,xxx depending and it's a different ball game with commissions at 10-15% which is consistent life changing/job quitting funds for many to change occupation. Situations like the Whiskey.com sale happen a lot behind the scenes behind pesky NDA. With a good accountant, patience, knowledge of stock/dividends you can make your earnings that much better *wink*</p><p></p><p><span style="color: #0000cd"><strong>2. In your experience, do you sell a higher number of hand reg domains in the $300-$600 range, and just try to sell more of them, rather than hold out for higher prices?</strong></span><span style="color: #333333"></span></p><p><span style="color: #333333"></span>I avoid hand reg domains unless it's a diamond in the rough that dropped (and expired) this happens now and then and I've registered and intend to flip for at least $x,xxx. However my focus when it comes to ME acquiring domains to flip the quality must be fair and I need to believe it can sell for at least $10k or it's not worth my time. Still profit is profit if you buy for $30 and resell for $1000 within a few months even weeks you've got the touch. </p><p></p><p>For a newbie in my opinion the aftermarket is a better choice then going the hand reg route. Try to purchase quality names to resell high. Now how should one define "quality" well I'd be writing another novel to go over that and it would only be an opinion.</p><p></p><p>I have found $5k-$10k to be the sweet spot for many small medium sized companies if you investigate your targets long enough you'll see the trend. Many newbies seem to start very low and then get caught in the $100-$500 area again and again using it to buy more low end. Investigate your potential buyer more and work on negotiation skills for a higher reward. I stick to .com/net.org and 2 cctld's I'm comfortable with and prefer to buy "dropped" domains for backorder.</p><p></p><p></p><p><span style="color: #0000cd"><strong>3. Do you think it is critical to develop sites? If so, would it be hard for a non-techie person to learn and how long do you think it would take?</strong></span></p><p><span style="color: #333333">I think if you are willing to learn development skills it can benefit your portfolio in the long run and at least earn your renewal fee per year and some spare change. Learn at least the basics as others have stated and much information you need out there is freely shared. I feel if you dedicate enough hours of your spare time you will be able to grasp the basics in 1-2 months and some services out there make it easy to bypass knowledge of deep coding thanks to word press etc.</span></p><p></p><p></p><p><span style="color: #333333">To add;</span></p><p><span style="color: #333333">I truly believe newcomers would do well to come in with a little money before hand, take some time to see how this business works and all the different cogs you can choose to oil. There's a lot of misinformation and just general bad advice that will have you stuck with 100 bad domains that you end up pricing for $100k and in the end leave you with a hobby that has you in debt.</span></p><p><span style="color: #333333">Take a look at DNJournal (especially the weekly sales and not just the top 20), Read the forums read domain blogs and see if you can see what it takes to be a mover and shaker in this business. </span></p><p></p><p><span style="color: #333333">Consider how much you want to invest to purchase some quality names not random hand regs. Avoid the .new gtld trend you'll see it again and again and you will lose money. </span></p><p></p><p><span style="color: #333333">Know when to get out if this is not for you. It takes money to make money in this business and time but after awhile if you are not seeing results you need and don't even know what you're doing wrong maybe this isn't for you. Don't quit your 9-5 until you are convinced you are ready to commit and have made consistent BANK and even then maybe you shouldn't quit HA until that "day job" is becoming an annoyance and getting in the way. </span></p><p><span style="color: #333333"></span></p><p>Best of luck with your continued journey.</p></blockquote><p></p>
[QUOTE="Zenchi, post: 2192963, member: 97464"] [COLOR=#333333]Thought I'd give a crack at answering your questions, I'm bored and up late editing invoices for the month. [/COLOR][B][COLOR=#0000cd]1. Are you able to sell enough domains that you do not need to hold another job?[/COLOR][/B][COLOR=#333333] [/COLOR]Yes I sell domains full time and now have my own small team. Originally I started like many quite "late" around 06/07 however I was not interested in buying domains for $20 flipping for $500 not that I would pass up the opportunity even today. I invested $X,xxx and researched my first domain purchase and then flipped it for 5 figures within a month. From that day I was sold that this is what I wanted to do. I still buy and sell my own personal domains but I find brokering a much more fulfilling option and this is my focus and what my business is set around. Being able to work on premium domains worth from 6 figures to 7 figures and secure sales for clients is exciting and enjoyable and it never gets old. Making contacts with corporations and interesting individuals along the way being able to speak to people like Steve Jobs prior to his passing on a deal and CEO's of Fortune 500 companies is quite an experience and then to have them place you on their cell for followups feels great. Also sometimes I may choose to wake up at noon it's my own schedule :) For my clients who hold greater premium domains that sweet spot can be entry low-mid $xxx,xxx to $1,xxx,xxx depending and it's a different ball game with commissions at 10-15% which is consistent life changing/job quitting funds for many to change occupation. Situations like the Whiskey.com sale happen a lot behind the scenes behind pesky NDA. With a good accountant, patience, knowledge of stock/dividends you can make your earnings that much better *wink* [COLOR=#0000cd][B]2. In your experience, do you sell a higher number of hand reg domains in the $300-$600 range, and just try to sell more of them, rather than hold out for higher prices?[/B][/COLOR][COLOR=#333333] [/COLOR]I avoid hand reg domains unless it's a diamond in the rough that dropped (and expired) this happens now and then and I've registered and intend to flip for at least $x,xxx. However my focus when it comes to ME acquiring domains to flip the quality must be fair and I need to believe it can sell for at least $10k or it's not worth my time. Still profit is profit if you buy for $30 and resell for $1000 within a few months even weeks you've got the touch. For a newbie in my opinion the aftermarket is a better choice then going the hand reg route. Try to purchase quality names to resell high. Now how should one define "quality" well I'd be writing another novel to go over that and it would only be an opinion. I have found $5k-$10k to be the sweet spot for many small medium sized companies if you investigate your targets long enough you'll see the trend. Many newbies seem to start very low and then get caught in the $100-$500 area again and again using it to buy more low end. Investigate your potential buyer more and work on negotiation skills for a higher reward. I stick to .com/net.org and 2 cctld's I'm comfortable with and prefer to buy "dropped" domains for backorder. [COLOR=#0000cd][B]3. Do you think it is critical to develop sites? If so, would it be hard for a non-techie person to learn and how long do you think it would take?[/B][/COLOR] [COLOR=#333333]I think if you are willing to learn development skills it can benefit your portfolio in the long run and at least earn your renewal fee per year and some spare change. Learn at least the basics as others have stated and much information you need out there is freely shared. I feel if you dedicate enough hours of your spare time you will be able to grasp the basics in 1-2 months and some services out there make it easy to bypass knowledge of deep coding thanks to word press etc.[/COLOR] [COLOR=#333333]To add;[/COLOR] [COLOR=#333333]I truly believe newcomers would do well to come in with a little money before hand, take some time to see how this business works and all the different cogs you can choose to oil. There's a lot of misinformation and just general bad advice that will have you stuck with 100 bad domains that you end up pricing for $100k and in the end leave you with a hobby that has you in debt.[/COLOR] [COLOR=#333333]Take a look at DNJournal (especially the weekly sales and not just the top 20), Read the forums read domain blogs and see if you can see what it takes to be a mover and shaker in this business. [/COLOR] [COLOR=#333333]Consider how much you want to invest to purchase some quality names not random hand regs. Avoid the .new gtld trend you'll see it again and again and you will lose money. [/COLOR] [COLOR=#333333]Know when to get out if this is not for you. It takes money to make money in this business and time but after awhile if you are not seeing results you need and don't even know what you're doing wrong maybe this isn't for you. Don't quit your 9-5 until you are convinced you are ready to commit and have made consistent BANK and even then maybe you shouldn't quit HA until that "day job" is becoming an annoyance and getting in the way. [/COLOR] Best of luck with your continued journey. [/QUOTE]
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