LoveAgency.com sold for $2,863

Posted on 15 February 2019

Today: Why .tv and .io domains are expensive / Buying Brandable names – Total Budget: $1,000.00 / Register your new .LINK domain names for $6.25! / And more!

Here are the new discussions that caught my eye in the domain community today!

Brandable domain names wanted – Do you have some brandable domains collecting dust you want to liquidate in bulk? Take a look at this buyers guideline. They have a total budget of $1,500.00.

Looking for a Brandable name – Budget: Up to $300.00 – Double check your portfolio to see if you have a brandable domain like the one this buyer wants. If you do, you could make up to $300.00.

Buying Brandable names – Total Budget: $1,000.00 – Be sure to check your portfolio for brandable domain names that fit this buyers criteria. They are looking to buy for wholesale prices in bulk.

Register your new .LINK domain names for $6.25! – Are you investing in the new gTLD .link or thinking about it? This new registration promotion might come in handy.

Why .tv and .io domains are expensive – Have you ever wondered why the .tv and .io ccTLD’s were so expensive? Take a look at what some domain investors are saying about it.

LoveAgency.com sold for $2,863 – That’s not a bad domain name sales report for a ten-letter, two-word, .com domain at a low-four-figures. Do you think it should have sold for more or less than what it sold for?

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Embrace Love… But Not When Investing!

Posted on 15 February 2019

Posting this seems appropriate, with it being the day after Valentine’s Day and all that 🙂

I’m more than serious when saying people need to embrace love. Love the person you choose to spend your life with, love your children, love your family members, love your friends.

Even when it comes to work-related stuff, there’s ample room for love. Love your career, love your new business idea, love the hustle.

Love, love, love…… and I’m sure you realize now’s the time to use the B-word.

BUT

Because yes, there’s a “but” even when it comes to something as ubiquitous as love. If people ask me to name just one aspect of life where there’s absolutely no place for love, I’ll answer that question without even blinking:

INVESTING!

Time and time again, investors make this one fatal mistake: they fall in love with the asset or asset class they’re investing in. From precious metals investors who think gold is the answer to everything to crypto investors who think crypto will revolutionize revolutions or real estate investors who firmly believe real estate can only go up.

What’s the problem with that, you might ask?

Well, falling in love with an asset messes up your timing game big time. After all, how often do those who love an asset sell? Pretty much always too late or in many cases, not at all. They become perma-bulls and that’s just plain wrong.

If you want to become a good investor, you sell when you have valid reasons to sell and buy when it makes sense to buy. You don’t have to be a fortune teller, you can definitely be an amazing investor even in the absence of impeccable timing as long as you’re professional about it.

Put together a plan, execute even when your emotions dictate otherwise.

After observing the effects of your actions, tweak your plan accordingly. Keep the elements that work and drop those that don’t.

Rinse and repeat.

The scientific method at its finest. /shameless plug

Don’t strive for perfection, that will never happen. Instead, becoming more professional should be your main goal. The scientific method might not be perfect but we don’t exactly have anything better at this point, so it’s your best choice in my opinion.

Yes, I understand that though this post, I’m basically telling humans to be… well, less human when investing. I realize how difficult it is, counter-evolutionary even in some respects. There’s a reason why only a small percentage of those who invest become genuinely good at it and it’s not because they have a working crystal ball!

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How to monetize a domain name

Posted on 13 February 2019

Today: How to evaluate a developed domain name / The proper way to outbound / HempExtractor.com sold for $7,189 / And more!

Here are the new discussions that caught my eye in the domain community today!

Buying 4L without a,e,i,o,u or CVCV, or CVVC – budget up to $550 ea. – Be sure to check your portfolio for a 4L without a,e,i,o,u or CVCV, or CVVC .com that meets this buyers specified criteria. They are looking for a quick and smooth transaction.

Buying Bushcraft pr Survival type names – Budget: Up to £500 – Do you have any bushcraft or survival type domain name assets you would sell for up to £500? If so, be sure to check this buyers guideline.

How EU trademarks affect US domain owners – Have you ever had or heard of an issue a U.S. domain name owner ran onto owning a domain that was trademarked in the EU? Take a look at what some investors said.

HempExtractor.com sold for $7,189 – That’s not a bad domain name sales report for a thirteen-letter, two-word, .com for a high-four-figures. Do you think it should have sold for more or less than what it sold for?

The proper way to outbound – Is there a proper or perfect way to outbound a domain name for sale to prospects? Some domain investors seem to think so. Compare notes and share your experience too.

How to evaluate a developed domain name – Do you buy or sell developed domain name assets as a package deal? How do you appraise your domain and website to attain it’s value? Take a look at what other domain investors aree saying.

How to monetize a domain name – Do you have domain names that you are holding for the long term and trying to figure out ways to monetize them so they pay for themselves until they sell> Check out this discussion for tips.

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Charismatic = Better?

Posted on 13 February 2019

The problem with choosing who you listen to and ultimately trust or at least take advice from is tricky not just in the domaining industry but in any other business.

Among other things, I’m also a marketer.

As a marketer, I’ve had enough exposure to human behavior to identify the following problem.

Let’s assume Joe wants domaining advice and has to choose between two people:

A) an ultra-charismatic person who is confident, articulate but full of BS… however, he’s able to say this BS in a pseudo-scientific manner that seems “smart” to the untrained ear

B) someone who’s really good at domaining but kind of weird, not a great speaker, not that confident in himself and so on… when you listen to him, he just comes across as “meh”

While I haven’t conducted a robust study myself, what worries me is that based on what I’ve noticed so far, people tend to just go with their first impression-driven instinct of choosing the first person, the charismatic one who looks the part, talks the talk but doesn’t walk the walk.

This is a huge, huge problem on the Internet.

Why? Simply because due to the halo effect kicking in, a person that leaves a good impression is a lot more likely to garner a following and influence others. As such, it becomes a systemic issue.

You then have an army of highly charismatic BS artists who “pollute” the Internet when it comes to any imaginable dimension, with loyal trigger-happy and triggered followers who spread the word.

As the Nobel prize winner Daniel Kahneman points out, our brains are remarkably good at painting believable pictures based on the WYSIATI (What You See Is All There Is) principle…

“Look at this guy, he’s so well-dressed!”

“Oh, he’s also well-spoken”

“… and SO confident in what he’s saying!”

“… THEREFORE, he must be so darn competent, the best of the best for sure!”

… of course, if the critical thinking dimension of who we are (System 2, as Kahneman and others call it) kicks in and we start digging beneath the surface, fact-checking his statements and so on, then sure, we’ll understand he was full of BS.

But System 2 is so darn lazy… evolutionary, it’s been “trained” not to kick in unless it really has to because otherwise, it would take us ages to make even the smallest decision… paralysis by analysis.

So while there’s a pretty convincing evolutionary explanation of this status quo (our tendency to surround the first person with an aura of competence), it has all sorts of negative consequences in today’s complex world.

While I don’t have a systemic solution, I guess the best we can do is be aware of our shortcomings and try to fight toxic instincts, biases and what not. Good luck with that 🙂

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A few reasons the domain resale market has declined

Posted on 11 February 2019

Today: MoldInspectors.com SOLD for $7,499 / Domain purchases you regret / BlackDown.org sold for $5,310 / And more!

Here are the new discussions that caught my eye in the domain community today!

Buying 1Word .net / .co domains – Total Budget: $2,500.00 – Do you have any single-dictionary-word .net or .co domain names you want to liquidate for some fast cash? Check out this buyers specified criteria to see if you have what they need.

Buying Your Junk 4L .com (Yes most are junk) – Budget: Up to $1,000.00 – Be sure to double check your portfolio for one of these four-letter .com’s if you want to sell one for some quick cash.

Park, Promote, Or Hire? – Out of these three domain name sales strategies, which one has been the most successful for you? Take a look at what other domain investors are saying.

BlackDown.org sold for $5,310 – For a nine-letter, two-word, .com domain, that’s not a bad mid-four-figure domain name sales report. Should it have sold for more or less than what it sold for?

Domain purchases you regret – I know that we have all made some bad domain name purchases over the years, myself included. What are some of the domains you regret investing into the most?

MoldInspectors.com SOLD for $7,499 – That’s not a bad domain name sales report for a fourteen-letter, two-word, .com for a high four-figures. Do you think it should have sold for more or less than what it sold for?

A few reasons the resale market has declined – Do you think this is a bunch of hype or is there an actual decline in the domain resale market. What statistics can you share and compare with other domain name investors?

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Should You Quit Your Job and Become a Full-Time Domainer?

Posted on 11 February 2019

Right off the bat, I want to say I’m hardly an expert in jobs, having never had one. I’ve always done my own thing BUT it’s important to understand that my situation may very well not apply to you.

Keep in mind, I’m from Eastern Europe, and that made my decision of doing my own thing a lot easier.

When you know your country is not exactly able to put amazing employment opportunities on the table, taking the leap and becoming an entrepreneur or something else along those lines… is not much of a leap, really, because you’re not exactly giving up or risking all that much.

What I’m trying to say is that it’s a lot easier to be brave when you don’t have all that much to lose 🙂

Sure, the idea of following your dreams and all that sounds great, especially if you’ve just watched a convincing motivational video or whatever. But in the real world, things are a bit more pragmatic than that. You know, questions such as :

  1. What are you giving up to pursue the new journey? There’s a huge difference between walking away from a six figure job and saying no to Eastern European job perspectives… which are not exactly in six figure territory!
  2. What other obligations do you have? Once again, it’s easier to take chances and do your own thing when you’re single than it is for someone who has four kids
  3. Is whatever it is you’re thinking about giving your job up for something you actually love doing? Nowadays, strangely enough, entrepreneurship became “cool” and many people decide to pursue this path not because it genuinely represents them but because they want to live the proverbial dream… even if its not their dream
  4. If the occupation you want to quit your job for, domaining for example, involves working from home… is this lifestyle right for you? If you’re an extrovert for example, being alone all day might not be the most amazing decision in the world

… and so on.

It’s not my intention to turn this into a demotivational post, not at all.

I simply want to point out that a decision such as quitting your job to do your own thing is an unbelievably complex one.

Am I saying you shouldn’t do it?

Of course not! I’m simply saying you should do it for the right reasons.

Maybe because you love it.

Perhaps because it’s a genuinely awesome opportunity.

Or because you’re now financially secure enough to give it a try (for example, having a robust buffer fund at your disposal just in case it takes a long time until your new project spreads its wings) and can do your thing without putting your family at risk.

Fair enough?

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A short story from my domain journey

Posted on 09 February 2019

Today: ScarTreatment.com sold for $3,050 / Domain listed on other platforms I didn’t authorize / NamesCon STRATEGY for 2020. Lets share here / And more!

Here are the new discussions that caught my eye in the domain community today!

Buying 4L without a,e,i,o,u,v,q or CVCV – Budget: Up to $350.00 – If you have any CVCV .com domain names you want to liquidate for some fast cash, be sure to check this investors specified criteria.

Up to $1,500 – .COM – two words MAX with ‘Security’ – Do you have any security related two-word .com domains you would sell for up to $1,500.00. Check out this buyers guideline.

Funnelblock.com – The word funnel gained popularity in the on-page marketing sector. Coupling it with the word block, another trending word due to blockchain, is it a good combination or a bad one? What do you think it’s worth in today’s market?

NamesCon STRATEGY for 2020. Lets share here – Did you have domains listed in the NamesCon auction? This guy listed one with a $300.00 starting bid and sold it for $1,000.00. He’s planning for the next NamesCon auction to do even better. Are you?

ScarTreatment.com sold for $3,050 – That’s not a bad thirteen-letter, two-word, .com domain name sales report for four-figures. Do you think it should have sold for more or less than what it sold for?

Domain listed on other platforms I didn’t authorize – Has anyone else ran into this before? Where you list a domain name for sale and then realize it’s already been listed by someone else? How do you address that when it’s listed on multiple platforms that you are not a member of?

A short story from my journey – This was an inspirational story about how a domain investor got started and found success. It’s always nice to read stories like this one.

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Are Many Domainers Insane?

Posted on 09 February 2019

Although there’s no evidence he actually said this, Albert Einstein is credited with articulating the idea that the definition of insanity is doing the same thing over and over and expecting different results.

At the end of the day, it doesn’t really matter who said it, the definition makes perfect sense when it comes not so much to the clinical dimension but rather to general human behavior.

As mentioned multiple times here on DomainingTips, all of us have made silly mistakes at the beginning of our career. In my case, perhaps my first mistake as a domainer was hand registering way too many low quality domains and I think this rings true for many “old timers” who are reading things.

There’s absolutely nothing wrong with making mistakes… as long as you learn from them. Or, in other words, losing money is not a death sentence in domaining but repeating the same mistake over and over sure is.

Like randomly hand registering 1,000 domains, failing and letting them drop, only to believe the problem was the domain selection and not the idea of hand regging domains in 2018, 2019 and beyond. So you go ahead and hand register 1,000 other domains, thinking you’ll get lucky this time 🙂

Or jumping on “fad” domains (for example buying lots of mediocre future trend domains), failing and thinking your mistake wasn’t the very idea of buying mediocre fad domains (usually, only the best of the best have any value) but rather that you chose the wrong future trend. So you move on to the next “hot” trend and repeat the same mistake.

… I’m sure you get the point.

Things change in domaining and you need a certain degree of adaptability to do well. It’s perhaps the #1 trait which facilitates longevity in any industry, not just ours. If you’re unable to accept mistakes, learn from them and move on, it becomes very likely that you’ll get frustrated and even bitter.

You’ll assume you aren’t doing well because someone else is at fault. Maybe “insiders” or perhaps big companies that are colluding, conspiracy theories will abound. As sorry as I am to have to say this, the person you see in the mirror each day is the one who’s usually at fault if things aren’t going well and there’s absolutely nothing wrong with that as long as you acknowledge this state of affairs and do something about it to break the chain.

In other words, insanity is curable 🙂

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How to stay focused with your portfolio

Posted on 07 February 2019

Today: How to start investing with a tiny budget / Converting inbound inquiries / Average marketing capital needed to sell a domain asset / And more!

Here are the new discussions that caught my eye in the domain community today!

Looking for Fitness Related .COM – Budget: Up to $1,000.00 – Be sure to check your portfolio for a fitness related .com that meets this buyers guideline. They are looking for a smooth transaction.

I Want to Buy a ONE WORD .co Domain – This investor has a budget of up to $200.00 for the right one-word .co ccTLD. Take a look at their specified criteria if you have one you want to liquidate for some fast cash.

TableLights.com sold for $12,000 – That’s not a bad eleven-letter, two-word, .com domain name sales report for five-figures. Do you think it should have sold for more or less than what it sold for?

Average marketing capital needed to sell a domain asset – Do you have a marketing budget to promote your domains listed for sale? How much do you spend? Check out what other domain investors are spending on advertising their domains before one sells.

Converting inbound inquiries – Do you have a set strategy that works on converting potential buyers that contacted you first? Compare notes with other domain investors that have been finding success.

How to start investing with a tiny budget – Are you strapped for cash, but wanting to get started in domain investing on a tight budget? Take a peek at what other domain investors are suggesting.

How to stay focused with your portfolio – Do you have a hard time focusing on your domain name portfolio? Is it organized and niche specific? How is it converting? Take a look at what other domain investors are doing to stay more focused on their domain portfolio so it doesn’t get out of hand.

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At Which Point Do You CHANGE Your Strategy?

Posted on 07 February 2019

This is perhaps one of the trickiest questions in domaining, an industry where “hopium” tends to abound, along with many mistakes such as the ones I’ve mentioned earlier this week.

The word “potential” is very dangerous in my opinion, because you can use it as an argument in favor of a losing strategy indefinitely. Let’s assume you’ve hand registered 2,000 domains based on a certain strategy. Maybe geo domains, perhaps something else, we’ll just call it StrategyA.

At which point is it time to pull the plug on StrategyA?

Well, maybe the first renewal cycle. Unfortunately, you’ll have to pay let’s say $18,000 per year to keep your domains, which essentially means you’ll need to generate $18k in sales just to break even. Ouch!

If your renewal season calculations are disastrous, such as for example generating only $2,000 in sales (which are not nearly enough to offset your $18,000 renewal bill), it would probably be wise to consider dropping the entire strategy, eating your $16k or whatever loss and moving on.

Unfortunately, the word “potential” creeps up on you and whispers in your ear that if you only wait another year, it’s all going to be just so wonderful. Plus, you’ve already invested money in these domains, so why let that go to waste?

This idea that you’ve already invested money and it would be a shame to pull the plug is actually a logical error, commonly referred to as the sunk cost fallacy (I’ve linked to a one minute video about it over on my One Minute Economics YouTube channel) or, as they say, throwing good money after bad.

Don’t do it… just don’t!

If the numbers make sense after the first renewal cycle, good for you, keep up the good work.

If they don’t, ask yourself:

  1. How close to break even you were, because sure, if you’re only down let’s say $1k or so, the risk/reward ratio associated with giving it a go for a while longer makes sense
  2. If you were not close to breaking even, what kind of a reason do you have to keep going… do you for example know someone who has tried a similar strategy, had a very bad first year and then recovered? Ask yourself if you at least have SOME rational reason behind your decision

… whatever you do, don’t just play the “well, it has potential” card because that’s unfortunately a surefire way to lose the farm 🙁

Sometimes you win, sometimes you lose… it’s just as true for domaining as it is when it comes to pretty much any industry. Those who do well in the long run are definitely not people who never lose, who don’t screw up. Not at all, everyone makes mistakes.

A wise domainer, however, knows how to pull the plug. Please remember that good money management can be just as important as having solid domain selection skills, being good in the sales department (negotiation expertise, hustle, etc.) and so on!

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