Can Domaining make you Rich?

in Domain Names Entrepreneurship by Francis Simisim — April 14, 2010 at 11:59 PM |

Since I started Domaining till today, I always asked myself will Domaining make me rich. Somehow you’ll hear a lot of great success stories about domains being sold for millions but on a daily basis you’ll still hear a lot of domains sold for a good thousands of dollars. That’s part of the reason why I got into it, but after a year of domaining (Register / Buy / Develop Domains). The question now is, will domaining make you and me rich?

There are a lot of established players in this area, you have Morgan Linton, Bruce Marler, Rick Latona, Owen Fragger etc. All of them having great income generated from domaining and each having a great domain sales / development story to tell. Are a lot of them rich? I believe so, they do travel the world to spread domaining and have been quite successful at it. But they’ve started a while back, right?

Us, Rich from Domaining?

So for the rest of us who have just started recently (a year is still recent for me that is), will domaining make us rich? The answer is really both yes and no. No, and it’s really not about missing the domaining boat in the 90′s but it is because we don’t focus or make it into a part time job / hobby. Yes (it will make you rich), if you risk big (meaning buying off great domains at good prices, either hundreds or thousands) and selling or developing the domain for you to monetize. Focus on the great and invest instead of collecting. For me, how I intend to get rich from it is by focusing on a few domains and focusing on development and monetization of those few domains. Focus is pretty much the key to success to domaining, without it, monetizing is way too hard.

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