Morning Folks!!
I can say the same shit until I am blue in the face and all I am ever met with is resistance. No matter what I say, they always know better. They are broke and in despair but discount everything I say. They will try everything under the sun but won't even try and understand what works and WHY it works.
Domaining is the simplest, easiest and fastest way to make money next to the race track and the stock market. Neither of those can you control. But domains, domains you can control but folks think they are buying a lottery ticket that the MACHINE PICKS!
If folks would just stop, take a deep breath, take a fresh look at things and don't reject what works out of hand, folks would have a different result.
There are a DOZEN ways or many more ways to do well in domains. Many ways to climb the mountain and make your fortune. But if fortune is eluding you, time to change what you are doing.
- Your first domain purchase is your most important. You can start again TODAY and buy your FIRST domain name. Try it! Just don't buy garbage. But a GEM! Not a ROCK! Don't know the difference? Keep reading.
- Domains are about Nouns, Verbs and Adjectives. Don’t know the difference? Go learn. Until then, you would be lucky to be as good as a stopped clock that will always be right twice a day. Don't confuse that with achievement.
- Those nouns, verbs and adjectives need to be in the right position. ie: GrandSlam.com not SlamGrand.com
- If the domains get ZERO type in traffic, that means not 1 person in 7 BILLION think like you. Not a one. Time to adjust or build a great destination. Other than that, you have a liability.
- If you don’t think there is still type in traffic available, you are in the wrong profession and besides that, you are clueless. Type ins are the ultimate verification reagrdless of what folks crow about. That does not mean you can't think of something before it is coined.
- Don’t buy a domain and try and sell it 5 seconds later. That means you did no research to understand the domain or the traffic. You didn't even take the time to see if what you were holding was a diamond or a piece of broken glass.
- It must pass the “Radio Test.” If you don’t know what the “Radio Test” is, you are lost without a compass. You don’t understand the masses. wtf are you doing?
- Don’t leave too much money on the table when you are selling a domain. If you don't know what makes one domain valuable and another one worthless, then you won't do well at setting the value either. You don't sell by asking a price. You sell by asking questions.
- The value of the domain has nothing to do with you. It has everything to do with the buyer. But if you don't ask questions, then you know shit!
- Learn to value a domain properly and stop selling to other domainers. That by definition proves you are leaving money on the table. They do what you do and see an upside. Something you might be missing because you don't understand #1-#9 or any or all of those.
I could go on all day with do’s and don'ts. Know the difference between a 'Social Domain' and a 'Commercial Domain.' But each domains should have some type of seed for a business around that domain. Some reason why masses of people might go there or type it in. If you are lost, focus on what you know. A hobby or specific business you know about.
I would say that almost 100% of the domains I have bought on the secondary market and over 90% of the domains I hand registered, have had a business plan associated with it from the get go. A vision of what could be done with it. However I made a conscious decision to wait 20 years before I would spend my time really developing. There were too many things to learn along the way and I don't have enough money to pay for those lessons myself. I just think it better to lay back, let others stumble and learn from THEIR failures not MY failures.
But these are just some of the most basic as way too many domainers are Pigeon Shit Farmers. They just think they are domainers. I see portfolio after portfolio with NO VALUE whatsoever. NONE!!!! They spend tens of thousands a year or more on fees and not a one has value. These are good people that just are on the wrong path and need to regroup.
Just take those dollars and buy a handful of really nice domains. They are out there. But if you don’t follow some rules and guidelines, you are buying land in Alaska that won’t see a human being for the next 500 years.
I would suggest if you are not wildly successful in domains that you foucs where there is TRAFFIC centers and population. Destination is Times Square. I absolutely guarantee you that if you had a retail store in Times Square with no rent or overhead that you can figure out something to sell the millions that pass by that is profitable. Like umbrellas on a rainy day. Compare that to what you sell in Alaska with nobody there? Don’t like umbrelleas, then try Pizza. Try anything you like because whatever it is, you will likely do ok because of the TRAFFIC! Or at least the POTENTIAL of traffic if you are a forward thinker and can see something others have yet to see.
And if it does not have traffic, then at least have domains that mean something or describe something. If not another person on the planet even understands it and has no traffic and you have no idea how to develop it, then please explain how that domain has value? (other than typos and TM infringements that will only get you grief in the future)
Last thing. Domains with SOME type in traffic are available at EVERY price level. $500/$1000/$5000/etc.
Have a GREAT Day!
Rick Schwartz
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