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Domain investment is not a fast track to wealth. It often appears to be all about quick wins and high-value sales in glamorous posts. The reality is that it requires a deep understanding of the market, including trends, pricing,
We learn and grow through our mistakes. In the domain industry, the fastest growth often occurs when you find yourself in a predicament and must seek answers. Because the road can be quite painful, the lessons learned stick with you. We can stand on the shoulders of those who came before us to pave a better path. That's why this platform has gathered the ten most common mistakes made by domain owners and how to avoid them. Let's learn together.
1. Lack of Market Knowledge
Domain investing is not a get-rich-quick scheme. It often appears to be all about fast victories and high-value sales in glamorous posts. The reality is that it requires a deep understanding of the market, including trends, pricing, and buyer behavior. Don't invest blindly; do your homework first.
2. Purchasing Domains with No Commercial Value
Not all domains have profit potential. Look for domains that businesses may want to use. Different countries have different preferences for domain types, such as keywords, short domains, and .com domains, which generally hold higher commercial value. Explore industry-specific names and potential niche markets in other popular TLDs (e.g., .io and .ai). If you deviate from .com, ensure your name aligns with the TLD.
3. Neglecting Domain Appraisal
Just as you wouldn't buy a house without an appraisal, don't buy a domain without understanding its value. Use reliable domain appraisal tools to estimate the domain's worth. Seek professional advice if necessary, especially when investing significant funds.
4. Overpricing Domains
While profitability is crucial, overpricing domains can deter potential buyers. Your pricing strategy must be realistic. Yes, you love your domain, but that alone doesn't make it valuable. It must be reasonably priced to initiate negotiations. I've heard brokers say that if the initial domain price is too high, they'll look for other domains for their clients.
5. Ignoring Legal Issues
Legal issues are crucial in the domain industry. Be aware that trademark infringement can lead to legal problems and potential losses. If you don't pay attention, your hard-earned registered domain may be subject to arbitration. Always check whether the domain you're interested in infringes on any trademarks. If in doubt, opt for a less risky name.
6. Failing in Negotiations
Negotiation is a critical skill in domain investing. Don't accept the first offer you receive. Learn the art of negotiation to maximize your profits. I know I've left money on the table before. Be smart in negotiations. If you don't know what you're doing, you might ruin the deal.
7. Not Diversifying Your Portfolio
Don't put all your eggs in one basket. A diversified domain portfolio increases your selling opportunities and reduces the risk of losses.
8. Forgetting to Renew Domains
One of the most costly mistakes is forgetting to renew your domains. Set reminders or opt for auto-renewal to avoid losing valuable domains. Today, it's so simple, and there's almost no excuse. Be sure to update your payment information if it changes.
9. Underestimating the Power of Excellent Brokers
Outstanding domain brokers can help you navigate the market, negotiate deals, and sell your domains at the highest prices. Don't underestimate the value they bring. Brokers have spent years in the domain industry, have more resources, and can find various domain owner contacts to obtain more reasonable prices.
10. Not Learning from Mistakes
Everyone makes mistakes, but the key to success is learning from them. Consider every mistake a stepping stone to becoming a better domain investor. Don't get upset and give up. Learn from them and consider each one as a step closer to becoming the strong domain owner you envision.
Remember that domain investment requires patience, research, and a willingness to learn. By avoiding these common mistakes, you can make informed decisions and increase your chances of success in this profitable field.
01 Dec 2023 05:31:34 PMIndustry Information
In many countries/regions, the usage frequency of country code top-level domains is higher than .com, and this is understandable. In the United States or China, you almost always see domain names ending in .com rather than the country's
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29 Nov 2023 04:49:29 PMIndustry Information
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Industry Information 29 Nov 2023 04:46:10 PM
We have all witnessed poor domain name choices: hyphenated domains, hard-to-remember domains, clever spellings. Abroad, someone specifically contacted 10 entrepreneurs, asking them about the practical mistakes they made in the domain name
Investment 29 Nov 2023 04:41:22 PM
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Industry Information 28 Nov 2023 04:06:46 PM
Recently, Beijing Douyin Information Service Co., Ltd. (abbreviated as ByteDance) completed the ICP filing for the Pinyin domain "zijietiaodong.com."Currently, ByteDance's official domain is: bytedance.com. ByteDance is currently one
Industry Information 28 Nov 2023 04:04:04 PM
A private equity group specializing in consumer packaging has withdrawn its lawsuit against the owner of bansk.com. Bansk Group was established in 2019. The owner, SiteTools, has held bansk.com since 2013 and has monetized it by redirectin
Industry Information 27 Nov 2023 04:43:14 PM
The recently word + letter combination domain LogicX.com was successfully traded for $21,750 (approximately ¥155,000). Registered in June 1998, the appeal of this domain lies in its unique combination, blending the English word "Logic"
Industry Information 27 Nov 2023 04:06:05 PM