A 20-year veteran in the domain name industry gives 10 tips to newcomers
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We surveyed more than 1,000 domain name industry leaders and collected 10 suggestions. Here are 10 suggestions from a 20-year domain name industry leader for beginners in the domain name industry. I hope it will inspire you.
1. To make a profit in buying and selling domain names. First study the market and process and realistically understand how to start making money. Don't be too impulsive. Only when you make money can you have the motivation to continue.
2. Before you start spending money, learn first, read a lot of content and investigate sales before investing, adapt to needs, do a lot of research, and join domain name industry exchange groups.
3. Take your time. Be selective. Buy a good domain name, and if it doesn't sell, use it for yourself.
4. Persevere and do a lot of research. Domain names are a long-term investment, be prepared for failure to sell. Learn more, find more sources, and be diligent. You must invest money or a lot of time. Slowly dive in and learn as much as you can about the industry. Don't over-consume inventory in the early stages.
5. Don’t try to eat a fat man in one bite, for the ignorant, it’s a mirage. For those who are informed, it’s a long-term game. So my advice is, “start part-time, don’t expect to make a year’s worth of money at one time”.
6. Be cautious about prices and get as much exposure as possible. Be very critical in making purchase decisions; most of the names that domain name holders choose in our first few years are not worth much!
7. Find a niche. This is not a “get rich quick” business, it’s definitely a gamble. I warn everyone that you do need to spend money to make money, and be prepared to know that most of the domain names you buy will not sell. But it’s a numbers game – the more (premium domain names) you buy and the more (premium domain names) you get in front of buyers, the more likely you are to make a sale and make a good profit.
8. Research and understand the industry before buying your first domain name, don’t rush into it. Don’t get into this industry unless you love the process of domain names (or in my case, the art of naming). If it’s all about money for you, you’re unlikely to succeed.
9. Do research before manually registering a large number of domain names, and stay away from domain names that belong to other people's IP. Read, read, read before investing. Hold before you drop. Analyze current trends and past sales.
10. Don't expect to buy a good domain name for a few cents. The most important theme: research, choose what you buy, be careful with pricing, be realistic, and expect to play the long game.
In summary, you choose to do the domain name industry because you like it, not just because of money. You like something and stick to it. Don't go cheap when registering a domain name. You must hold the domain name for a long enough time and have a long-term mindset. Many people throw away a lot of domain names halfway because they didn't sell them. Once someone else registers them, the value will immediately rise. In the future, the differentiation of the domain name industry will become more and more serious, and the value of good domain names will become higher and higher, and those without special meaning will become more and more depreciated.
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