… or bond investors? Real estate investors perhaps? On the one hand, it’s easy to understand why some people think that just because they’re good at investing in certain assets (domains, in our case), it automatically means they’ll do well in the stock market as well, for example.
Unfortunately, things are a bit more complicated than that.
Sure, someone who is good at investing in domains is probably in a better position to pick let’s say stocks than someone who never invested in anything. That’s a fair enough assumption.
But to be *really* good at something, you have to invest time.
Lots and lots of time.
Realistically speaking, you will have to make certain choices because you can’t be good at everything, the day only has 24 hours unfortunately. If you spread yourself too thin, you’d end up chasing two rabbits and ultimately coming home empty-handed.
This is actually a common mistake.
For example, quite a few people made decent profits online and ended up losing their shirt when investing in the offline world. Or the other way around, of course, people who did well offline and ended up losing money online.
Again, it all boils down to making some hard but important choices.
How much time did you invest before finally becoming a good domainer?
Try to remember a few things about your initial journey in the domaining world. The mistakes you made. How you perceive the industry now compared to back then. What your initial plans were and what ultimately happened.
To be a good stock investor, you’d have to go through something similar. The same principle is valid for pretty much any industry/market.
As a conclusion, I’d recommend figuring out what your #1 priority is and calibrating your “big picture” strategy based on realistic assumptions as well as based on your strengths/weaknesses. As mentioned yesterday, a little bit of humility can make the difference between someone who does well and someone who doesn’t.