Making money is the most important driver in a domain investment business. It is, after all, a business for most people. When I accomplish something special – like closing a big deal – I like to celebrate it. Making money is the goal, but doing something small to reward myself for an achievement is important.
No matter how great the achievement, I usually do something relatively small as a way of celebrating. I might open a nice bottle of wine with my wife or go out to a special dinner. When I achieve a more notable accomplishment, I might buy something to mark the occasion. I am not really a flashy person, so it might be a purchase I’ve put off for a while.
The act of celebrating a win helps punctuate the achievement and gives me a small reward for the hard work. Harvard Business Review (HBR) published an article about the importance of celebrating a win, and it is something I try to do.
For me and for many others, domain investing is a solo business. There are no communal high fives or back pats for deals. My professional friends don’t go around bragging about their business wins, but I am sure they celebrate with their colleagues. I don’t have that community, so I celebrate with my family.
Everyone has a different idea of what amounts to a win. For some people, it’s a great sale. For others, it is reviewing an entire domain portfolio to determine what domain names to keep and what to expire. Some people are excited about winning a competitive domain auction or even a legal battle. Others may be excited about paying off a domain name acquisition. Whatever your win is, it is important to celebrate and honor it before moving on to the next goal. It will keep you motivated for more.
Everyday is a bonus day
Life is just a temporary
Everyday is a celebrated day
Everyday is always a special day
Glory to Ukraine Glory to Ukraine Glory to Ukraine
Elliot, recently sold a .net for five figures and did that. Sent couple of cash to family and friends. Got 2 couple of nice sneakers,renewed some names and picked up some 4L that I negotiated with a buyer in the XXX range.Also added some new backorders .
Always feels good to see the seed you planted,paying off .I Always reward myself. Thank God for the blessings.
“Glory to Ukraine”? Why?
I’m still very interested in being a domainer, but usually the domains I buy I build into websites. The website business is just so much more incredibly lucrative. With domains it’s a buy and wait game and you never know if it’s going to sell. On the other hand, the website business is based on monthly income. If you can create a website and build it to earn $1,000 per month, you’re already looking at a $20,000 – $40,000 sale. The average sale of domain names is about $3,000. As much as I would like to be a domainer one day, the website investor is more of my game.
Of course if you have an ultra premium domain name you can earn a couple hundred grands to a couple millions, but that timeline is usually much longer and not guaranteed.
Agree, nice article!
@derpus aka anonymous
Long live Ukraine Long live Ukraine
Long live Ukraine