Although Elliot kindly asked me to give my tip, I passed for a several reasons, one of which was that I had no one great piece of advice for success.
The truth is you can achieve success in this business from many different angles and ultimately your success is going to depend on finding your niche, feeling comfortable in your own skin, and doing what is possible under the circumstances you’re in.
For example, a common tip was to buy quality not quantity.
That’s great strategy if you have hundreds of thousands of dollars to spend on one domain, but if you don’t have the money to buy those domains , that advice isn’t going to help you.
The truth is there is not one simple formula for success, but there are certainly paths for failure that you need to avoid.
Number 1 on the failure hit parade is, don’t piss your money away.
Take these 53 domains.
They are all dropping in the next few days and they are all 13 years old.
That means they were registered back in 1996, in the days when registrations were $70 for 2 years.
Recently they are at Moniker where the renewal fees are more modest, but lets do the math.
Lets just call the renewal fees $10 a domain, per year.
You have 53 domains carried for 13 years for a total of just shy of $7K.
Check these domains out.
If any of them were in the TRAFFIC live auction for $500 you would jump on the auction house for putting such a crappy domain in the auction.
Yet, for 13 years someone paid renewal fees on these domains.
Want to be successful in the domain business?
Don’t piss your money away.