I saw a thread on NamePros from someone who seems to have had enough with investing in domain names: I Give Up! I am DONE!!! There were quite a few words of encouragement shared with the thread starter, and several people offered to assist if they could. This is one of the great things about NamePros. One thing people learn is that domain investing takes a lot of work, can become expensive, and there are no guarantees that the time or money spent will result in a successful experience.
There is no doubt in my mind that a person needs to spend a whole lot of time learning about a wide range of topics to be successful at domain investing. Some of these topics are directly related to domain names and domain name sales, but some are only partially connected to domain names. Some of the topics successful domain investors need to have a good grasp – or at least a basic level of knowledge include:
- Domain name industry
- Domain name lifecycle
- Domain name aftermarket venues
- Domain name valuation
- Trademark and intellectual property law
- Web development
- Search engine optimization and ranking factors
- Email marketing and email laws/regulations
While expert level knowledge about each of these topics is probably not required, some topics are more important than others. Some of these topics also go hand in hand with each other, making it easier to form a solid foundation.
Becoming an expert – or becoming knowledgeable about these topics is time consuming, and I don’t think someone can ever stop learning about them. There will always be new strategies, regulations, and venues, and the dynamic nature of domain name values is ever changing. Put simply, for someone to find success in the business or hobby of domain investing, it takes a considerable amount of time and dedication – in addition to a strong bankroll.
Forums such as NamePros and Domain Boardroom, platforms and venues such as NameBio, GoDaddy, and Twitter, learning courses like DN Academy, and news publications found on Domaining.com are all good places to learn about domain name investing. Domain investors need to learn what domain names sell, how to buy good quality domain names at fair prices, and how to sell these domain names profitably. It takes quite a bit of time and focus to accomplish this.
Domain investing can be what you make of it. Some people seem to be quick learners and have a knack for buying desirable domain names that sell quickly. Others have a more difficult time at this. Domain investing can be a fun hobby or even a great full time profession. People who want to start out and succeed in domain investing need to understand that domain investing profitably is hard work.
Everyone who has done well in this business has put in the time to learn its nuances. There is still plenty of money to be made to those who work hard, but there is no such thing as easy money.