Conserve cash in Domain name investing

in Domain Names Entrepreneurship by Francis Simisim — November 14, 2009 at 12:00 PM | 0 comments

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Domain name investing seems really lucrative when you hear the headline “a ___.COM was sold for $__ million”. But Domain Name Investing isn’t the easiest business as everyone thought it is, so many people start buying crazy amounts of domain names just to find that it isn’t going to sell. One of the biggest lessons I’ve learned is you need to conserve cash to stay in the game…

… So I was in a buying spree when I first started, researching all night, getting my credit card ready to buy the name straight away before someone else does. I put it all for sale, thinking its at least hundreds or thousand dollars worth undeveloped. I was wrong, nobody even took notice of the names, none was ever sold.

– Save money as much as you can —

Domain name investing means being able to hold on to your domain names while you stay in the game of buying and selling domain names. There would be times that you earn a lot and times that you earn nothing at all. The business is pretty unpredictable and all it takes is a good offer or a great trend and your domain name could be worth millions tomorrow. The domain names that sold millions recently were held by the buyer of the domain names for a good few years, most of them are established and expert domainers that have established networks. My point is that you need to earn or conserve your cash to stay in the business, strict planning is a must and make sure that expenses are small.

Right now I’m still burning cash, but I can forsee that with the developments I’m doing, I should be able to break even by next year. It’s a very tough business folks, don’t fall for the false promises of short term gain, this business needs time and money just like others do. But the advantage is that there are low barriers to entry and people could still enter this business easily. In this business, everyone has to find their own direction. I believe in development while others believe in buying and selling, it really comes down to what you do best.

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