How is it possible that 2016 is almost over? But, it is.
Domain investors eager to achieve better sales and experience a better, financially sound new year might consider not repeating the same mistakes in 2017.
By planning carefully for the new year ahead, you will get a better grasp of how to best leverage your domain portfolio.
So what mistakes should domainers avoid in the new year?
- Relying on liquid domains to achieve cash flow – These domains have been resold ad nauseam among domain investors. Save them for the real money: end-user buyers.
- Tapping the “Chinese domain market” – The entire 2016 has been a disaster with domain “Chips” losing more than 50% of value. Don’t be a sucker in 2017.
- Getting into “exotic” ccTLD pump-and-dump schemes – That island in the south Pacific you can’t point to on the map? Its domains are as good as pebble stones.
- Investing in every new gTLD that comes out – While many new gTLDs make sense to invest in, keep the meaningful keyword+gTLD paradigm as your rule of thumb for registrations and acquisitions.
- Ignoring development and parking all domains – Get your best generic or brandable domain, and build it. Even better: transform it into a real brick and mortar business.
- Arguing over who’s domain is better – Don’t waste time over public arguments in online communities. Make the difference, your way.
- Falling for domain evaluation schemes – Never pay someone an evaluation fee, directly or indirectly; if they want your domain, they have to pay your asking price.
- Not enabling two factor authentication at the registrar level – If your domain registrar doesn’t support it, go with one that does.
- Sharing too much information about your own ventures – Fly under the radar, no need to let the world know about your path to success.
- Not staying educated – Learn about the latest trends, technologies and methods to leverage your domain-sourced income.
You can avoid many of these mistakes by exchanging ideas with other professionals: NamesCon 2017 is just around the corner! 😀
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