Rick Schwartz made a pretty interesting tweet yesterday that I think will bring about a great deal of conversation.
Rick stated that 90% of all domain investors should look to reboot. Drop everything and start over again.
90% of every domainer should drop ALL their #Domains and start again! They are so far off the path that it is sad to see. #gtld #Startups
— Rick Schwartz (@DomainKing) May 16, 2017
I wonder how many who agree with Rick or liked his tweet, would be willing to drop their portfolio and start over ?
If one was to drop everything, would they make better decisions the second time around ?
Leave your opinion
What a “B”anker Rick Schwartz is then for saying that. Maybe his head is getting too big.
The King’s Prerogative: Sovereigns are allowed to use statistical numbers like “90%” and “ALL” without providing any empirical evidence. Pawns like us have to back our claims with facts. To that effect, I have attended 20 domain conferences in the past 8 years. And I have only seen our self proclaimed sovereign at two of them, both his own. Both of those conferences were so sparsely attended that they stopped having them altogether. NamesCon on the other hand had over 500 attendees and a vibrant atmosphere each of the past 4 years. Even the last DomainFest in LA was an impressive event. So here is my statistically supported fact: “Rick Schwartz, our self proclaimed King, has NOT attended 90% of the domain conferences that I attended in the past 8 years.” So how would he know what 90% of world’s domainers are doing or what inventory they have? From blogs he reads? From Whois info? Puleeeeeeeez! #TheEmperorHasNoClothes #IgnoreTheManBehindTheCurtain
I think Rick purposely exaggerates to drive home a point. It’s like if an object is pink and someone who hasn’t looked closely thinks it’s white, don’t tell him it’s pink, tell him it’s red. Then he’ll look and see for himself.
But in this case he might not be exaggerating…
It’s nice that Rick cares so much about everyone else. Even after all his success. Very thoughtful
He really is such a thoughtful guy.
I agree with you.
I have known Rick for 14 yrs (?) and he is/was always that way.
But, we also know, if you poke him once, he might ignore you.
If you poke him twice, he will come back at you like a lion.
I am not sure if the TLD registries will like that advice but it also may have them (registries) become more creative on how to make the names stick around.
Meh, he probably isn’t wrong.
However his statement that after 2 years of trying to sell a domain you should drop it if it hasn’t sold is too broad. He could have expanded his thought as it does not apply to premiums or acronyms.
“However his statement that after 2 years of trying to sell a domain you should drop it if it hasn’t sold is too broad.”
I never said that. Just the opposite. I said if you buy a domain for 1 year, it’s the wrong thing to do and wrong direction. Buy for the long term.
I apologize, I misread the 2 years.
Rick is getting marasmic. Maybe this is because of aging… or due to vanity… I do not listen to him any longer.
And you are just an invisible asshole that does not count. No person EVER listened to you nor have reason to.
LOL HAHAHA!
I dropped under performing domain names and to see it snatched by another domain investors. It a cycle of domain failures.
I like Rick, he says the truth in the meaning if you want to be a five figures domainer. We have to go towards what the Domain King said if we want to be rich.
But the problem is now most of catagory killer domains are offered hundreds of dollars in drops. So the shark can eat big fish. But most of domainers invest in lower quality domains, which most of educated end users still buy for three to four figures. You can see the domain name used by most start up companies, are the domain name you won’t pay even at hand register fee. If all end users are educated, the lower quality domains (the good brandable, good nTlds, good CC Tlds, etc.) will be priced higher too.
So, who should be educating them, in your opinion? Domain investors can also show end users the way – by giving an end user a peek into what the domain name “could be” for them.
That’s the point. Most of good domain names are registered and parked for sale. Not a working service website. So how the real company owners knew what the good domains are?
Good domains help in SEO, company image, easy to remember, easy to spell. Good domains talk for themself about their value. Those can be shown if most of domainers built a website.
But, …Those all can also been shown when a catagory killer domains has been used as end user websites, and the story spread to the world. They are the live proofs of the domain names benefit. So startup companies will follow the success of success ones. We are all on the track on doing this. It just about time to wait.
He’s right.
So you dropping all your names ? Cool good luck.
For me it’s more about realistic manageability. At my peak I was over 3,000. Sold many and dropped ones I lost interest in or saw no point in renewing year after year. Now staying under 500.
They should drop everything so he could buy them at drop catch…
Believe me, I don’t want their pigeon shit! Worthless is worthless.
Funny how when we read about a sale Rick had it is for a domain he bought 15-20 years ago. How much of his thousands of recent hand registrations is he selling? Easy when you get in on the ground floor.
It’s never EASY no matter what “Floor” you get on!
90% of the Domainers don’t have the wisdom to drop and buy DIFFERENT names.
Maybe the 90% Rick is talking about are the newbies.Then i would agree with him.
That does not mean that we shouldn’t check and recheck our portfolio when renewals are coming.
BINGO!
Rick I started domaining in December 2016. Anyone offended by your comments need to check themselves and why they are offended. I do think you are so high profile you can move the proverbial needle! I said today in fact that less than 10% of my nearly 300 domains were purchased in secondary markets. I have some terrible hand registered names. Well more than some. I am working like you know what to educate myself, learn from my mistakes and the mistakes of others. I am also trying to find new ways to sell domains and different ways to access/predict/acquire new domains. I have an idea. History repeats itself. Location is king in real estate. Nothing new under the sun. Well my idea is to do a query of defunct and failed businesses. They failed for various reasons. I do not believe the name has to be the reason for failure. Same thing with dead trademarks. Maybe sleeping dogs should lie! Maybe not.
Ditto
Drop all the nonsensical names and shoot for stuff that makes sense, isn’t gibberish
Rick, I’m a newbie and I started to buy domains in October 2015. From the very beginning I was looking for knowledge about domaining and your blog was and is still one of the better source to learn from.
I agree that probably a high percentage of registered domains in a beginners portfolio is worth, like you say pigeonshit – I know from first hand 🙂
I know that the main problem for unexperienced domainers is to define the value of domains. I’m sometimes still struggling about it. For example I recently let drop CigaretteElectro.com – now it is at Mike Mann’s marketplace for sale at $29,888 USD. Or another example: In 2016 I sold ehousewife.com for $xx USD. Today I know more and I wouldn’t let it go for less than 2k.
In the last year I have gained a lot of knowledge from people around the globe. I’m very grateful for their kindness and thank them for the hard work writting blogs, running forums and all kind of platforms. Thank’s to you all!
Darko
As for what Rick wrote, honestly when I see domains so many people post I’m really shocked and am inclined to agree with him. Been thinking something similar myself for a long time.
Me too. Even the CigaretteElectro.com and eHousewife.com above I think are horrible. I wouldn’t pay reg fee for either one. If they were in my portfolio, I would drop them at renewal time.
And, just because Mike Mann put $29,888 on the former one doesn’t mean he’s going to get that price. It may never sell and he may drop it in 3 years after one of his regular purges of mistake purchases that he does — ‘portfolio pruning’ — that ALL of us should be doing.
It makes no sense paying $8 or $9 a year for pigeonshit, a term that Rick coined that is very apropos for SO much of what many domainers buy and then try to force on the rest of us in their spam emails out to the world. They just don’t get what is a ‘makes sense’ domain name that a CEO or CMO wants to buy to reach American consumers effectively and efficiently online. They need to stop what they are doing and watch and research on NameBio, DNPric.es, and DNJournal.com what is selling for top dollar. Then — and only then — they should re-start buying new domain names.
He’s right.
Good luck on starting over.
It is an interesting conversation piece, every domainer has to look at every domain they own at least once a year and make the decision to keep or drop. I imagine most domainers drop some and add new domains every year, I know I do. We all see people post lists of domains for sale that are very bad, the kind of names most registered when they first started domaining, we are all guilty of some bad regs. Who knows if the 90% figure is accurate, maybe it’s just a way of saying ‘a lot’. Then you see domainers like Mike Mann making $10,000 to $25,000 sales on domains he’s owned for 5 to 10 years, so just because a name hasn’t sold in years, doesn’t mean a name is necessarily bad. Rick also posted recently that end users look for domains “one need, one project, one desire at a time”. If you’ve had inquiries from time to time on a domain, it is easy to keep it because it shows interest and you just need to get your asking price hit. Domains that get no inquiries year after year are the ones you have to question and get a gut feel on, because in some cases a domain that has had 0 inquiries for years will get a good offer out of the blue. Or a name you’ve tried to sell in a forum for <$100 gets no bites, then sells for 10x or more to an end user. When you look at the Sedo and Namejet sales week after week, I'm sure many of us see names on those lists that are similar or even poorer quality than the ones we own – and you see them selling for good to great prices. As Rick also said, the domain industry, compared to stocks, real estate, commodities, etc doesn't have any common metrics or common valuation tools that everybody agrees on, which adds another layer of difficulty. He also said domaining is similar to the lottery which I think is also true. One of the important things I look at every year is did I make a net annual profit, if you're doing that then at least you're probably doing something right! I think Rick's posting on Twitter is one of the best things happening in domaining in 2017.
I agree and disagree. They should maybe just drop out 😀
Mr. Schwartz is right.
I decided to start all over 2 months ago. I stopped buying and moved all my domains to sedo and uniregistry and only kept 4 domains in my marketplace.
Rick is the floyed meaweather of domaing, cocky as F but always on point
He is right. Keep .com, dump the rest. Short, number and product related only.
Agreed although on the fence on whether anything over 3 characters should be considered short and investable. Too many 3L .coms not in operation for there to be real end user demand for 4L for quite some time. Doesn’t mean they can’t appreciate in value just doesn’t seem like blue chip investment should there be an economic downturn. 4L in weaker, more speculative hands.
That’s all I own, listened to Rick when he had his blog and dropped from 500 domains down to a hundred,but the caveat is that you have to see into the future,what was it ten years for ebet.com rick.
I have always believed that I would have changed my life in this domain market to the best of having met Rick before. I am sincere, keeping respect for other mentors who teach me this market otherwise.
A 90% off and start with my new home portfolio of having to register is what users and investors look for domains, brokers, buyers, etc., the market domains need to update current trends that apply for all in their niche In each market in the US and in other countries.
I dedicate myself now to buy premiun domains expired with http://www.estibot.com as an important value.
Register new if also but more focused to the “VR” “AR” hybrid, gas, electric etc., new trends that come quickly, I every day I get in my searches of 4 to 5 words and a number sometimes between Half of the 50 letters of new, and 50 of two words looking for the trend that arrives.
Rick is wrong, 89.4% of domainers should drop everything.
hmmm… i was gonna say 88.8%
10 years from now people will be saying I could bought that one or two word generic name for 50-100k. Fast forward 10 years the value goes to 500k or more. It is still the ground floor right now! You will not get Rick’s deal by find a domain for $100 then selling for 6-7 figures, but you will find one for 5-10k and potentially make 6-7 figures.
It is the same as real estate, how often have you driven by a piece of land and said I could of bought that 20 years ago for nothing, now it’s worth millions. Las Vegas lots where 10k for acre away from strip now approaching 500k to 1 million. No difference here.
Hardly anyone talks about domains as investments. Once you see your local 7-11 clerk talking about domains then you will know the top is near in this market. When a 7-11 clerk starts talking about stock tips that is when it is time to get out of the stock market:) But I don’t think domains will have that wide spread ups and downs. Domains will be very safe investments for the future.
Don Murray
DomainPad.com
It used to be the shoeshine kid. Since they are now basically extinct, it’s the 7-11 clerk. 🙂
Rick is getting way too much attention. He was in the game early, well done, others were too but they’re not boasting 24/7 on Twitter about how they know it all. Other domainers started later, some startet 3-4 years ago and made more money in 4 years than Rick in his first 10. Bottomline is every domainer has its one story and its one strategy. Telling people they should drop all their inventory is just bullshit. I know guys in the industry that own way better portfolios than Rick and nobody knows them because they never hang out at the usual “conventions”. “Domain King”.. please, give me a break here. Who calls himself a king other than maybe LeBron and the guy has at least 3 rings… Did Rick call the Chinese bull market in domains three years ago? No he didn’t. Did he call the top of the Chinese buying frenzy? No he didn’t. Stop acting like you’re the chosen one, Rick. Don’t be so top down. Think about Mike Mann. They guy is just sharing his sales 24/7. What he paid and what he was paid. I bet he sells a lot more than you do these days… Be humble. Nobody likes a smart ass. Peace.
He’s right on the new gTLD’s though. But then again.. so are many others…
Another ghost
May as well be a moron.
Unless you are willing to identify yourself you’re a nobody that knows nothing and just talks out of their ass.
I rest my case.
You rest nothing. You proved you are an idiot. Congrats.
To me ALL ghosts that don’t have the COURAGE to put their name and IDENTITY behind their words MAY be a moron at BEST! Just lowlife loudmouths. IMHO!
Rick doesn’t deserve the moniker Domain King because he’s made the most money or has the best collection, he deserves it for the incredible job he has done for close to two decades educating people, free of charge, about the value of domains and how to make, and not lose, money with them.
I’m not sure if 90%, 95%, or 70% should start over.
But if you’re not receiving offers and making sales to at least cover renewals and your “time”, I’d recommend doing an audit of your domains.
I still feel you can handreg some domains in certain verticals or key words with the .com and get offers and a nice ROI (drone, cloud, crypto, bit)
But most of my offers can from domains I either won in auctions or through buying on the aftermarket.
Rick has done exceptionally well with his model. How can you dispute that level of success?
Like Rick, I also am not a fan of .net, but I’m bullish on .web. Could be some great opportunities with .web.
Every domainer should adjust their domain name portfolio over time, by how much and how often, depends on trends and market conditions. If you have a balanced .com portfolio, you should be okay.
As I have said before, I would stay away from made-up word domains, hyphenated domains and 3 word domains or longer, unless it is a phrase.
Hey, I was assigned the same triangle with glasses pic on DomainGang.com. What the frig. I am sensing a conspiracy.
Although, I do wear glasses sometimes. 😉 Lol
80/20 rule !
However Rick is wrong, the bottom 80% of the domains inside the portfolio are selling well, the top 20% are stuck as unsalable. The top 20% are those super premium and generics that you’ve over paid for at some point in the past.
Deserves? Like somebody granted it to him?
No, he claimed and trademarked that moniker. Is he the highest grossing in total or on average? No. Highest portfolio sale? No. Biggest or most valuable domain portfolio? No. Dominating the weekly salses charts? Certaily not. So what’s up with the whole “Domain King” narrative.
Identify yourself COWARD! Just a ghost and a COWARD! You are nothing! Anyone that listens to a COWARD is an idiot!
Take it easy Rickster. Get some rest. Tomorrow will be a bright new day.
domain king is a visionary vs others that jumped in 3/4 years later and maybe made more money after, but the guy that takes the 1st step and proof the concept has more too loose then others jumping on the bandon wagon seeing there is sandwich to be made, because of his self confidence and the way he express himself he might sound cocky to some, but his track record of success is undeniable and proofs that he knows what he is talking about! that’s why to me he is the floyed mayweather of domains!!! 😀
and we need villan karakters in this industry 😀 drama sells 😉 and i love it, wish i hade sales like domain king, you can call me any name 😀 i dont give 2 fck
Twitter seems to be doing more harm than good for many, it must be addictive.
I would think calling people an asshole on here does more harm than good BJMO!
Twitter been the only thing fresh about domaining in years. Rick has been the best entertainment in this clusterfuck people call domaining.
There’s a difference between entertainment and verbal attacks. I can do without the latter.
Don’t follow Rick on Twitter then, easy solution.
I don’t. 🙂
Time to call these ASSHOLES out! They have done NOTHNG for anybody but themselves. Selfish little PRICKS!
Keep showing yourself Rick, the truth prevails. And people actually respect what you say? Geesh..
The admin can’t even control your comments..
Refrain from personal attacks
Avoid profanity
Then stop being an ASSHOLE!
You come out just to pee on me? Get lost!
New gtlds are doing more harm than good, that and recommendations to invest in trash like .ws.
Thank you Rick for all you do.
I guess commenting on Twitter when you don’t follow the man is just plain stupid.
Sorry, I am DONE taking SHIT from ASSHOLES and I am going to call these little pricks out! F them and theirs!
I’m not sure who’s acting like the little one here, isn’t me. Grow up, you sound like a high school kid.
Stop trolling me then Mark! Don’t have something constructive to say? Then SHUT UP!
I don’t take kindly to insults, and passive aggressive ASSHOLES like you Mark!.
Got it Mark??
You need to read all my posts, I’m not trolling anyone. I made one comment about your potty mouth and you shot of of a cannon with insults. Sure I’ll reply back when you tell me to F myself etc..
Moreover I’ve not insulted you but rather the other way around. I don’t take kindly to your insults either, do you got that?
You need to relax a bit or something…
I have read your previous INSULTS and condescending comments on several blog posts over the last few weeks. So don’t act so innocent. I see what you say. And I think you are an ASSHOLE for your lack of character! Don”t like my thoughts/advice IGNORE THEM! You go out of your way to be NASTY! And for that, you ARE an asshole! PERIOD!
Feel free to share must be a different Mark, the Internet is big you know. You seem a bit confused but I understand.
No it’s not. I got the right Mark.
The only one that is confused is your convenient memory!
We don’t need to talk again!
Have a nice life!
Rick Schwartz says
MAY 17, 2017 AT 10:08 PM
We don’t need to talk again!
Have a nice life!
Thanks, sounds good to me. Never been called an A hole that many times in a row before! LOL…
lol Drop everything? You can’t just say that without offering advice on which domains to drop. Maybe Rick wants to snatch them all up and say ” haha fools don’t know they just let go of gems! “
Mr Schwartz
I will take your great advice and sell them to my good buddy Monte Cahn
There are none so blind as those that refuse to see.
Love ya Rick, please have them post a list of all domain names
being dropped.. browser is open register page armed and ready
I tend to think holding brandables for a period of time adds up to long term gambling, products and services I am much upbeat on, newbies register crap until they figure out there is an aftermarket, I tend to agree on dropping most of the first year’s worth of domaining. After that constant assessment is required, many domainers let pride dictate their decisions (myself included) Once you get over that hurdle the path is much more straight forwards.
Most of you are taking Rick’s words, too literally. What he is alluding to is, 90% of the so called domainers should just drop out. They are playing themselves for a fool, by their own set of self limiting rules akin to a hobby one participates in after a hard day at work. On the other hand, Rick has sold his homes, living in a car, to invest in domains. One can still do that you know. It’s fair, people can do what they want with their time. But, sitting on a toilet, taking a dump and knowing how to flush hardly makes one a plumber. In every industry, at the very least, one has to acquire a certain level of expertise and gain a respectable level of accomplishment to be known as a professional. In domaining, everyone becomes a self proclaimed domainer on day 1.
I kinda agree, lot of crap being held. Began domaining 2 years ago, but bought a sold a few over the decade not really investing, mainly leftover stuff from projects. Takes ~1 hour of my time/day.
Dropped the crapper ~30% of my folio after year 1. Have ~200 names left, gain about 1/week on average. Typically spend $30 to $100 upto a few $$$ in a particular niche I found to be successfull for me. Sold only one this year, but $5k profit. Got rid of a couple for $$$, but they don’t really count because would have dropped them anyway. Get many enquiries and ignore ~$1k offers here and there on hand reg. Turned down $5k last week on hand reg, I want $10k. n00bs sell for $1.5k and brag about it.
I don’t do outbound, maybe i’ll do an outreach for first and final offers before I close on an inbound sale.
One idiotic assessment some n00bs use to flaunt or think will add value to a domain is in the ‘aged domain’. Yeah ok, use is as a minor point in your sales pitch, or to assist in filtering your daily lists, but that aged domain is not worth more than if it dropped yesterday.
Maybe Rick and other senior domainers are a bit of cunts, but a cunt like the kung fu master that just has to kick you in the head. Seriously, this cunt is trying to save you money so many dumb n00bs sinking $$$$ into renewals waiting for a lame $1k pay day. Learn or quit, but don’t say no one told you. If after a few years your not making money, RESET RESET RESET.
How many names from the usual DomainSherpa investor submitted list do the sherpas really like? It’s like one name out of ten or twenty.
Dang! I’m out of popcorn… Some of these comments were getting hot enough to heat up my popcorn grease.
At the end of the day, way more research should be going into domain investing prior to pulling the trigger. One can’t start or maintain a successful business without first learning proper procedures.
Maybe that’s the underlying problem; too many investors in the domain industry aren’t relating it to a real world, tax deductible, business model. I wonder, how many actually pay taxes on domain sales?
Once a domain investor starts to take it more serious and researches all the laws/taxes associated with a for-profit business/hobby/investment model, it will turn on that psychological switch in their head, so they can take more calculated steps to achieving their goals.
One of which, would be filtering their portfolio to reflect serious business. Just my opinion anyways.
“how many actually pay taxes on domain sales?”
Great question Eric, how many ‘domainers’ are actually paying tax into their so called business??
There must be so many avoiders! 90%
If U.S. citizens are not declaring domain revenue, they are being foolish.
The IRS has the right to audit your returns going back 7 yrs, if they suspect fraud.
Your odds of being audited, per NOLO.com:
No adjusted gross income 3.42%
$1- $25,000 1.22
$25,000-$50,000 .73%
$50,000-$75,000 .83%
$75,000-$100,000 .82%
$100,000-$200,000 1%
$200,000-$500,000 2.66%
$500,000-$1,000,000 5.32%
1,000,000-$5,000,000 5.38%
$5,000,000-$10,000,000 20.75%
over $10,000,000 29.93%
I had seen those probabilities.
But, once you get on their radar, they keep coming at you.
Furthermore, this applies to the total number of U.S. filers.
However, they do pick on some certain categories.
(ie, cash businesses,)
I don’t know if we (domainers) are on their radar.
I look ‘ok’ in pin-stripes..
But, I am positive I would not look good in broad stripe jump suits.
Comment Policy:
Stay on topic
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ASSHOLE SAID, HE’D TRY ONE MORE TIME, BUT I KINDA LIKE SAID, WELL YOU KNOW IF YOU DO, YOU MIGHT NOT GET A THIRD CHANCE…
Hi.
I appreciate Rick comments and it is good that he still writing to all of us . I would appreciate it more if he had giving us some specific examples and why they should be dropped .
Because their Pigeon Shit.
‘they’re’ – Got to correct myself…
The moderation should never allow personal attacks, profanity or inane infantile remarks. It’s meant to be a forum for mature discussion. Disappointing!
Folks can take what I say that helps and spit out the rest without spitting at me in the process. Human nature and poor upbringing I guess. But I just decided that now it is time for me to spit back. GOT IT?? Don’t like how I SPIT?? Then BEHAVE like the adults and business people you PRETEND to be!
So basically you were calling everybody names yesterday and now you’re asking us to BEHAVE or else?
If you can’t stand the heat, get out of the kitchen. It’s not a “lese-majesty” if someone decides to criticise you or your statements in public, you know? That’s because you’re not a real king of course…
Richard, be fair. It was a few of them making snide remarks, being insulting, which made Rick respond in the manner he did. Being ‘KING’ is not about being pompous, but how much an individual influences others in the their respective spheres, and in the domaining world, very few can claim to be as positively influential as Rick.
I am fair, Chris. But again, if you call yourself a king, be it for branding, ego or whatever reason, at least show some dignity. People here were making valid points yesterday and he called a lot of guys idiots, morons and child molesters. That is not how you deal with fair criticism. You don’t want people to debate and criticise you and but be 100% hail to the King? Try North Korea…
No, I just returned fire.
Open your mind.
Domain King is a BRAND!
Do you understand BRANDING??
I am not a real king. So glad you were able to make the leap to that conclusion all by yourself. (or did somebody whisper the REAL answer in your ear?)
Ate you familiar with the concept called irony? Sad.
It’s all good Richard, What Goes Around Comes Around. 🙂
just decided
Hilarious
Holy crap, what happened on here while I was gone. Lol
If it don’t apply let it fly.
“There is a darkness in you. In all of us, probably. Beasts we keep chained. Ordinary men have to keep the chains strong, for if we let the beast loose then society will turn upon us with fiery vengeance. Kings though…well, who is there to turn upon them? So the chains are made of straw. It is the curse of kings, Helikaon, that they can become monsters. And they invariably do.”
― David Gemmell, Shield of Thunder
Translated
Rick: What can I say to lift your spirits?
Someone: Show me the money!
Rick: I’m here to inspire you to be your best, do your best, and seek the best!
—
If you’ re on a busy street e.g. JuiceBar.com, sky’s the limit. Or, I may use expensive ingredients, but my store are in locations where I can afford it e.g. TheBestBlindStreetJuiceBar.com.
Where I can afford it? Wait a moment! The JuiceBar.com is available for Lease, Joint Venture or other Creative and Profitable Formulas.
The King helped launch the Domain industry.
Major sales.
Traffic.
His blog for many years.
Free advice.
Helped drive up the valuations of premium domains.
I believe he’s earned the crown of King.
I enjoy Rick’s tweets daily. I am thankful for them. His statement “90% of domainers should start over” was a genuine advice. Some of you guys are putting words in his mouth.
I agree with Rick to an extent. It’s easy to pick up garbage and think it will sell as gold. I have a lot of garbage names myself, and I can’t wait for them to drop. I really just want to delete them now, but that doesn’t make much sense when dealing with a numbers game. However, a reboot or mass shedding (deleting) would be very beneficial and refreshing to my psychology. Truth is, I’m somewhat of a minimalist, with the exception of cash and equivalents. I don’t like to own a lot, but what I do own is quality. That’s my style of living, and that’s what I’m working to make my portfolio reflect… I’m now working to only pick up names that I really really like and find attractive. If it’s good, but unappealing to me, it now has no place in my portfolio. I’m a collector, and I want to enjoy my gems unemcumbered by dirt. It’s gotta be beautiful.
Furthermore, if people will shed their shit, the marketplace will be much more appealing. I’m tired of seeing platforms saturated with bs names at premium prices… If people would adhere to what Rick is implying (quality or quantity), which makes a portfolio a hypnotic attraction, then the marketplace would reflect such intention…
If it doesn’t turn you on, don’t touch it.
I have to agree with Rick. I let some of my dog shit domain name drop. Big-up to the Domain King for the great advice.
We forget to price in opportunity cost. If I had to start over again (and wasn’t already addicted) I’d skip domaining altogether and focus on finding investment opportunities similar in class to what Rick and crew found ‘back in the day’. Bitcoin, Jobs Act startup investment… new opportunities with a lot of headroom for growth.
You nailed it. I regret not investing in Ethereum, when it was in the pennies. Even today, there are hidden opportunities. Most people, either do not recognize them and if they do, are risk averse.
Don’t know if the 90% is exact, but i get his point.
Just browse a little on namepros and see the domains trying to sell there
90% should drop and those 90% will drop eventually. Usually takes 5-10 years before they realize it though.
Rick is wrong in his statement.
It’s 99% of domainers should reboot, not 90%
It’s reality.
Many just choose to ignore it.
The article title should read like this:
90% are Dumbmainers…10% are Domainers
People send me their lists regularly for the last eight years and unfortunately I would have to agree, in fact this is the advice I usually give people that’s meant to help!:
I advise you drop 90% of your inventory and if you truly want to get into the domain industry to study for 3 – 6 months the sales charts, prior investments, look closely at was has sold in the past using services like NameBio.com and dnjournal.com. Study the forums and speak to other successful domainers, only after doing this for up to six months would I advise investing in more names.
This is frequently ignored and is the same advice Warren Buffet, Benjamin Graham or any number of experienced investors tell those interested in the Stock Market, Real Estate, Forex, etc… While here it’s largely perceived as pompous I believe it to be the most sound advice you will received from those experienced in any form of investment.
Why aren’t domain investors at INTA 2017 in Barcelona happening right now? You have so much to offer the audience there and vendors – to sell your domains to brands directly. That is where many of your potential buyers of great keyword names are present as well as Complainants in UDRP disputes? There are tons of opportunities to network in that space and learn their strategy on how they approach their online brand identity, IP policies etc.
Domain investors are entrepreneurs in your own right – you get the value and power of domain names above everyone else. If you all work collectively in forming a union, take a strategic approach in dealing & approaching with services that represent every point of a domain name life cycle, you have so much more to gain as a whole. The industry is so divided. A domain name’s lifecycle impacts every business in the space. Talk to the brand protection/management registrars to explore ways to keep domains that may potentially be of interest to their brand clients. Work with drop service providers to target brands and provide them with priority registrations for names you plan to drop – get a slice of the revenue. They are all at INTA.
There needs to be more diversity at all domain name related events – by diversity I mean, different business interests being represented.
Samantha,
The problem with events like INTA 2017 is that don’t get to deal with the decision-maker – the individual who will say yea or nay to a domain name purchase – only their representatives. Better to approach the head office and work your way through the hierarchy, if possible. Getting to the right person is a skill, and most domainers don’t have that skill. Finding the “decision-maker” in a corporate structure is not easy; you have to be persistant.
Somebody started over this morning and registered COVFEFE.com
Why not? It is a 1 word name and will soon be in the dictionary if the libtards have their way. 🙂
Set up Covfefe.Business this morning for $5.
Look for it at tradeshows of various industries hashtags this summer