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Are You Willing to Change Your Opinion?

Posted on 03 December 2013 by Andrei

One of the biggest differences between domainers (or I’d say investors in general) who do well and domainers who don’t is the fact that those who do well are willing to change their opinion when they come across facts which prove that they were wrong.

They swallow their pride, admit they were wrong and change/calibrate their strategy accordingly.

They don’t blame others, they don’t blame the market, they don’t blame the economy and generally speaking, they don’t desperately try to find someone or something they can blame it all on.

Instead, they look in the mirror, admit they were wrong and move on.

Sometimes, this means cutting your losses.

Sometimes, it means completely changing a strategy you invested a lot of time/energy in.

The list can go on and on, the bottom line is this: no, it’s not pleasant but changing your opinion and admitting you were wrong is one of the most important things you have to be willing to do.

Sure, finding something/someone to blame may make you feel better initially but you cannot learn from mistakes if you don’t acknowledge them.

You’re a domainer, an investor.

Act accordingly and don’t let your ego stand between you and the long-term profits you know you deserve!

3 Comments For This Post

  1. Joe Mahoney Says:

    You are 100% right. I bought two domains and that have a combined Estibot of $52,100 and I am putting them up for sale for $9100 as of today because I would rather take some money today than $100k+ tomorrow. Most domainers will hold onto a domain for a decade and then cash out, but right now a quick sale works for me and I have no ego about it.

  2. John Says:

    Pride is for bad investors, cowboys, and male 1950’s Hollywood stars.

    You investments care nothing about how you feel.

    Nice post because many people don’t think about this but just move based on feelings.

  3. Dr. Spock Says:

    Good post.

    I think it’ll be interesting to see how many gtld cheerleaders change their mind after the foolhardy initiative fails and people continue to insist on .com only … as has happened several times before.

    Some just miss it temporarily while some will never get it.

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