One of the biggest misconception in domain name investing is about having hundreds or thousands of domain names under your belt, itâ€™s also one of my first mistakes when I first started domaining. But I soon realized that it was not all about the numbers on how many domain names do you have, but it was about how good is your domain names (Quality Over Quantity)…
… I remember my biggest mistake was that I was on a shopping spree, thinking that the next name I register would be worth millions in the years to come. But sooner or later, I did get my wake up call, domaining isnâ€™t that easy (just like anything else).
— Focus on Quality Domain Names —
I kept on buying domain name after domain name, just to realize that it was all brandable domain names and would only have value if there were great developments (or contents) in them. Iâ€™ve also made a mistake of going after those really short 3 letter word domain names (ccTLD), which was too generic and was so hard to develop into a minisite (see Fix.PH). Soon, I realized that I owned around 120+ domain names but a lot of it are not that great and needs a lot work to develop.
So my advice is to go and get yourself quality domain names than getting yourself a collection. Go get a domain name in the aftermarket for a few hundred dollars than hand register a lot of random domain names. One of the best example of this is the recently sold Insure.COM, where it was bought at $1.6 million in 2001 and has now been resold to another company (including the website) at $16 million. I personally still havenâ€™t done, since Iâ€™m stuck with lots of other good domain names to develop, itâ€™s something that has worked for a lot of people in the domaining industry. So before you take out that credit card of yours, really think again about the quality and focus on that.