So many beginners get frustrated when their domains don't sell right away. (1.Viewing)

Some of the newer domainers or the ones who have given up might want to click on that tweet above and read the comments.

MapleDots said:

Some of the newer domainers or the ones who have given up might want to click on that tweet above and read the comments.

Click to expand...

But I can understand their feelings as to really make it in this biz in 2024 you absolutely require a) a lot of available money, b) a lot of patience and c) some level of business/financial acumen, experience or education.

Without these, you're absolutely screwed over the long-term and renewals will likely eat you alive. It's like any other business, you don't start making consistent money right out of the gate and it usually requires 3-5 years of hard work to turn a steady profit, but by 10 years you might be in great shape.

In order to make it that long, you will need infusions of cash to carry you over the inevitable revenue troughs, and in domain investing, those can be very deep. Plus, there's always the danger that you bought a pile of junk domains that will never sell and you stand to lose all that acquisition + renewal money.

But hey, if it was easy, everyone would do it.

There are always highs and lows in most business adventures. The key is to stay patient.

It’s important to know your domains worth and don’t settle for anything less (unless you want the extra money of course).

If you have a great domain, somebody will come along at some point and offer you a fair price for it. It could be tomorrow, it could be in 10 years.

If you’re starting out, don’t buy stupid names. That’s pretty simple but I’m sure most of us have done it. I thought I had a “real winner” when I scooped up Dollarama.ca back in 2009 from TBR. I found out that Dollarama has some lawyers who don’t want you registering their names. Just like any big corporation.

When I saw SecondCup in the TBR this week, it brought back memories of names to NOT go after.

I'm wondering for what grounds someone decides to flip domains in the first place. Is it because they see 6 figures or more deals by huge companies and they try to get rich easily doing a flip? I don't know. But as with ANYTHING in life, have patience.

First of all... welcome aboard @AgoraForo - I hope you enjoy your stay here.

Domaining has a great ROI if you can figure it out.