Morning Folks!!
I swear to you that the entry bar to the domain industry is only in your mind. A good mind can come into this industry TODAY and set up shop and within a few years, make his/her fortune. How? Well actually there are many ways.
It takes some hard work to start, but most of that hard work comes in the way of thinking. Many folks just "Do". I say "Think". Then do. Then think again and either do or undo but don't just keep going and going and going. Each step needs to be traced and retraced. That is the path to ensure you get it right. Get it right without getting lost or off on the wrong path.
I hope to share a small journey with you in the coming days. One that I hope will show you a tried and true path to fortunes still to be made here in domaining. I think I can prove that there are still veins to be minded and plenty of gold left for those that can see the future from here and how things may unfold in time when we look those 5-10 years or more down the road.
Find what works and just repeat, repeat, repeat.
Buy what you can afford to lose no matter what business you are in.
No money to start? Get in the middle of a deal. That takes no money. Just takes thinking. Takes recognizing an opportunity and then acting on it.
Want the "Easy Button"? Get the foundational things right and you will own an "Easy Button". But until then, if you are not willing to put in 14-16 hour days, you get what you get.
2014 will be a very exciting year for the domain industry and well beyond. The topic will be domains and websites and web strategies and everything web and internet related. Everyone knows their very survival orbits around the Internet from here on out. The focus and money will come in like a tidal wave. Probably 2nd and 3rd quarters of this year. But all year there will be big moves made by many. Facebook is on a buying spree and they should be. Why sit on billions of dollars that lose buying power each and every day when you can grow that money instead by buying and integrating profitable businesses?
Retailers will have to analyze those holiday numbers and they are going to one day come to the realization that for folks like JC Penny and Sears to survive, they need to start closing every store that is not growing in sales. BOOM! Just like that. Done! Overnight. Stop the hemorrhaging and focus on what works. Take some of those employees and train them how to use Facebook and Twitter and all the rest and unleash their power of change. The game is over guys. Time to rethink the next 100 years or you won't be around to rethink it. Time is running shorter and Amazon is growing bigger.
I don't think opportunity in domaining is solely dependent on the size of your wallet. Yes, sometimes it does, but most of the time it does not. Has more to do with your timeline and strategy. I really do see 6 figure domains that I would not consider buying and I see $1000 domains with 6 figure values. Our eyes all see different things based on our life experience. Some things work over and over again and some things fail over and over again.
The future we share is very bright and many fortunes can still be made. Discovering a path that works is perhaps one of the hardest and most sought after intangibles in the world. But intangibles are what makes opportunity. Thinking how to use intangibles in different forms is the roadmap that fortunes are made.
If you are not finding the success you deserve, I always say stop, take a day off. Relax. Enjoy. And then spend another day just thinking and crystallizing those thoughts. Go deep my friends. Your futures depend on it and deserve it.
Rick Schwartz
Harry L Shields
Perhaps this is a good example of what you are saying in today’s post. I use two lines from you, “The future we share is very bright and many fortunes can still be made. I don’t think opportunity in domaining is solely dependent on the size of your wallet.” I have owned the dot net version of a domain that I have really liked for 14 years. To the best of my knowledge there has never been anything other than a holding page on the dot com version over that same time period. I checked yesterday and I can buy the dot com domain for $2,008 dollars! Is this an example or not? Just happens to be in a massive market! Thanks again Rick for your continued guidance.
Kwan
Thank you for the inspiring words Rick. I now do realize research, strategy and thinking outside the box are all very crucial components in this industry.
Anunt
Buy some bitcoins…$800 right now
Patrick Hipskind
I think if you are willing to sift the black sand you can get some gold. If you are looking to just pick nuggets out of the black sand you may come up empty. My take is that a lot of money is going to flow into gTLDs for awhile, and without a plan for end user adoption a lot of them will fail. At NamesCon, the .luxury representative stated they were working with some large brands who intend to use .luxury to augment their marketing efforts. When I asked her in private if she could give me any info on the number of brands who have made a firm commitment to use the .luxury gTLD she stated that she could not at this time. I look forward to when that information can be made available on their website.
Kassey
Thanks for reminding me to spend more time to think. Thinking is the hardest thing to do in the world.
Kevin Davis
Nice pick me up.I bust my ass everyday domaining.Me best sale last year was 7000.00 for a 3 dollar domain name.I have already made a 900.00 sale last week of a name that never got a type in.I keep positive and love doing this.Thanks for the pep talk Rick.2014 I am gonna kick its ass.
Kwan
Wow can you share the secret to your success Kevin?
Kevin Davis
No brands have made a commitment because they don’t know what the hell .Luxury is.
Anunt
.Luxury is for high price items and i would NEVER purchase a luxury item on .Luxury
.Luxury SUCKS
Ramahn
Rick, great post. Sometimes you have to take a step back, a day or two off add just think. Think, evaluate, plan, research and think some more. I spend most of my days thinking and researching. I’m obsessed with researching. Information is so accessible and FREE these days (especially if you know how to use Google) its almost unbelievable.
I agree that 2014 will be an exciting year for business in general and domains are a vital part. I believe you must not only be networking, but also be well rounded in your reading. If you don’t understand what’s coming then you will be left behind. There’s so much opportunity coming in the next couple of years alone, nevermind even 5-10 years from now, its not even funny. Match your passion with a niche and dive in.
Louise
Thanx for the positive energy, @Rick!
JM
Rick, thank you for your guidance. A very good post!
Stu
I can see plenty of $1,000 domains worth six figures……..not being able to afford them is a killer though!
keeskroos
It’s all about the positive (investors) mindset
Thanks for sharing Rick!
cybertonic
Use ecop.com to buy names as we now accept bitcoins.
AustraliaHouses
“If you are not finding the success you deserve, I always say stop, take a day off. Relax. Enjoy. And then spend another day just thinking and crystallizing those thoughts. Go deep my friends.” – Excellent advice. Truly wise.
Kevin Davis
@Kwan Its called positive energy and do your homework and keep busting your ass and keep up with whats going on or whats going to go on in the coming weeks,months,etc.I am going to do great this year thanks to reading Ricks blog and others.You can’t get this kind of education in any other field.Peace And Kindness.One Peace Is Missing,K
Robbie
I would never send ecop my identification vitals to do a funds withdrawl, for that reason I refuse to use ecop
Altaf
eCop= e COP. What does that mean? Cop is watching you via electronics.
LoL. Thanks Robbie for alerting identification vitals.
Altaf
Anunt: Good suggestion, where to buy online via CC/wire-tansfer?
Tauseef
Thanks for enlightening us about the fortune that can still be made in Domaining.
Scott Alliy
One thing I would add is as you mentioned is to look at things through johns eyes to better understand what John buys.
Too often we entrepreneurs take it all on our shoulders and become myopic in
The I must figure this out mode. The issue is is that if we continue to look inward we will be looking through the same eyes and therefore keep seeing the same things. By seeing through the other guys eyes you will see things in a different light and new opportunities you didn’t see looking inward will suddenly appear.
Mike
Many thanks, Rick, for your positive and brilliant thoughts…
Best,
Mike
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goodlyfeblog
Hi Kevin.
How exactly do you find the buyer? Or do they find you?
And do you sell the domain with stats on keywords etc, like a whole sales pitch?
Or do you simply say something like “Yeah you can buy it for $7000.”
Thank you!
Jonas
goodlyfeblog
“.luxury sucks”
Is that how you think business, or can you explain what you mean and why?