Do You Spend More Time Buying Or Selling Domains?

It’s a common conundrum in Domaining and one that many people don’t spend enough time thinking about. How you spend your time in any business directly impacts the success of your business. The challenge is, for many people buying is just a lot more fun than selling. Yes, the thrill of the sale is great, but I find one of the main reasons why Domainers fail isn’t because they can’t sell their domains, it’s because they don’t put any time into doing it.

First things first, don’t take this the wrong way. I’m not saying that you should stop buying domains and do nothing but try to sell your domains. Instead I am saying you should balance your time so that you put more focus on selling domains than buying them. You need quality domains in your portfolio to keep a steady stream of sales but you also need to get over any fears you have about sales, and quickly.

Like electricity, people tend to move towards the path of less resistance. This is what initially attracts people to Domaining, for under $10 you can buy an asset that you could sell for thousands, heck maybe even tens of thousands of dollars! Sounds exciting doesn’t it? The reality is that in most cases your domains will not sell themselves and you’ll have to actually put the work into selling them. The problem is that many Domainers are addicted to buying domains, spending hours each day scanning droplists, forum posts, etc.

If you are happy with the revenue you’re bringing in then don’t change a thing, keep doing what you’re doing. However, if you’re finding that every month you are missing your goals, then maybe you need to look at how you’re spending your time. So let’s talk about selling domains.

Selling domains is hard work. Anyone that tells you it is easy to make money selling domains is either lying to you, or doesn’t actually know because they don’t do it themselves. The first thing you need to decide is whether you want to do this work yourself, or if you want to hire someone to do this for you. If you’re doing it yourself set a simple goal – spend more time every day selling rather than buying.

By changing this balance you can put your time into something that directly results in revenue. While buying a good domain could mean revenue down the road, that very day you are actually spending money, not making it. I think all businesses should put more than 50% of their time into making money, not spending it.

So take a look at your day and ask yourself what might just be one of the most important questions a Domainer can ask themselves, “Am I spending more time buying or selling domains?”

Morgan

Co-Founder at Fashion Metric
Morgan Linton was born in Berkeley, California but spent nine years traveling the world as an early employee for digital music startup Sonos. In 2007 Morgan founded Linton Investments, a domain name and branding company that has helped some of the most recognized startups in the world acquire their top choice domain name. In 2012 Morgan left his full-time job to co-found Fashion Metric, a next-generation platform aimed at changing the way guys shop for clothes online.

{ 15 comments… add one }

  • Uzoma January 9, 2013, 7:33 am

    Very good one. Keep them coming…

  • bw January 9, 2013, 7:38 am

    haha, I only spend time buying them, it’s a money pit!!

    But seriously, I am hoping to spend more time on domaining and in building a domain business. For me, it has been mostly a hobby to this point.

    I think I have gained a valuable education though, buying and dropping so many names over the years. That being said, what do you think of my latest premium acquisition, websitetechs.com? I bought it for $300.

    Purely a branding play, but I love the word website in a two-word URL as it pertains to a web service provider.

  • AbdulBasit Makrani January 9, 2013, 8:23 am

    Nice article. These days I am giving proper time for buying and selling as well. Before the story was a little different.

  • Morgan January 9, 2013, 8:59 am

    Thanks @Uzoma!

    Good to hear @Abdul!

  • Ron January 9, 2013, 10:08 am

    What a douche you are for ignoring the above guys questions… like his words don’t even matter, sad.

  • Rich January 9, 2013, 10:28 am

    I spend my time buying a lot more then selling.
    Yes it’s getting very addicted

    bw@
    i’ll answer.
    I think your domain it’s not good.Singular would have been i little better.

    Next time for $300 go to GD auction and buy your self 10 domains for that money.
    twelvecylinder and theluxurygift dot com,i bought them for $20 each.

    Good luck and give me a buzz since we live in the greatest city,Chicago

  • Jen January 9, 2013, 12:53 pm

    @Ron,

    I don’t think he’s a douche. However, it does appear like sometimes Morgan’s blog comment section is heavily monitored or either comments are mysteriously held for unknown reasons.

    I left a response to this post earlier and I know my website was visited from this particular post (6 page views per my statcounter logs from morganlinton.com) but the comment wasn’t approved.

    No problem. Thought my comment was rather complimentary to Morgan’s post which I still think is was very timely as I ramp up my focus on domaining.

  • bw January 9, 2013, 2:04 pm

    Word up Chicago! I own ChicagoDomainBrokers.com – I have always had plans to develop it and start a domain business with it, just preoccupied with other things, but Im going to get around to it this year, and soon. I’m not offended, I’m sure Morgan is busy. I rarely participate in here, but on occasion I like to ask about the names I buy, I know they are good, for their intended purposes, I don’t need anybody to tell me if they good or if they are not good, I can make them good. WebsiteTechs.com is an idea for a website maintenance service I am looking to develop. I bought it because it is very brandable. who you going to call when you need help with your company’s website, the Website Techs. Fully Managed, High Performance Websites and Web Services.

  • bw January 9, 2013, 2:41 pm

    and thanks Rich! you can email me at brad@buyservers.com, <—– that is a nice domain! bought that one for 2K with plans to develop it into a dedicated / cloud hosting comparison site. I have been leaving behind a lot of the names I hand register, and getting more involved in the premium names, I need to monetize a few of them. I do plan on getting around to developing all three names, chicagodomainbrokers.com for domain brokerage and marketing, websitetechs.com for website dev and maintenance services and buyservers.com for hosting services – that is synergy.

  • joe January 9, 2013, 4:15 pm

    Interesting post, I like small domainer buy after an analysis of probabilities to the future in my psychology of keywords aided by the strategy I use search a whole.

    I do not waste time selling itself’m different, for one simple reason see far beyond what is behind this market and industry still do not live in U.S.

    From contacting you as your domaining beginner lesson help and give brief but accurate, read your post and other domainers. while asking subjects to answer short when you can, thanks!.

    Now I have all my web projects are new online marketing within some domains have become real estate, ask yourself why Domain Parking. contact lawyers to register trademarks and all be very complicated, if you live in U.S. you are in the right place if you’re not seeking a serious cooperation, trust, and confidence in every market have everything.

    Conclusion over the years to buy and renovate real fear unsold occur by Network Solutions for four years, winning out as usual to do legal pitfalls abound in all countries [In the country to live in Spain say as an example: Every law, Make the trap and not fail, always true and be present in every country]

    This happen to me, after researching on my own internet find tests where come all, but I really do anything since this market and industry is very special to move several thousand million U.S. Dollars

    So be very careful, buying is better spent to day, month and year, it’s hard to sell if you have to know the person before, so for me it is better to have someone else who want to do business US strategic alliance vs joint ventures, both come out ahead and learn new methods of online marketing for business and consumers globally.

  • Leonard Britt January 9, 2013, 5:30 pm

    Guilty as charged :)

  • Morgan January 9, 2013, 6:04 pm

    @BW – definitely a lot to be learned through buying and dropping names. Happy to hear of your latest acquisition, I don’t see it as a strong domain on its own, but if you develop it into a real business there is definitely potential. Still I’d always recommend going with something as short as possible when you’re going with a brandable and I agree with Rich, the singular would be stronger. Keep me in the loop with how this develops, I’m a big believer that every domain has the opportunity that its owner gives it!

    @Ron – for some reason BW’s didn’t show up when I first checked. Since I’m usually not on my blog during the day I just saw this now. Wasn’t trying to ignore it, just didn’t see it, I always want to respond to everyone who asks me a question through my blog and appreciate you pointing this out! :)

    @Joe – thanks for sharing!

  • trendicator January 9, 2013, 7:46 pm

    I’ve always known this, but sometimes, it’s easier said that done. I do need a reminder from time to time and thanks for doing so with this post.

    what’s your target every month and how do you determine that if you don’t mind telling

    thanks

  • DOMAINANGEL.RU January 10, 2013, 2:57 am

    Good that you camed up with this topic, I personaly think that when a new person is getting involved in the domaining business, his steps are devidet i phases :

    1. Buying crapy names (and then the more you read about it and the more wise u are or simply lucky you understand that u regged craps)
    2. Learning what drop is by dropping the crapyes ))
    3. AND FINALY you get to the time when you register nice names…and then you get passionate about it and cant stop.
    4. Waiting that somebody will contact you to buy domains…realizing that the comopetition is pretty big and ur not the only one that has nice domains.
    5. Start to move the ass. Adjust and lower the prices…offer in more olaces forums and so on and so on..

    Something like this happened with me but i got more lucky with a few names wich was sold in the first year with sedo
    1 – 4 letter. Com ~ 480 $ (bought on domenforum.ru for 20$)
    2 – an app related domain ~ 240 £ (regfee).

    And also i would recomend you to check up your own dropped domains, a few domains witch I droped was catched by networksolution and i listed for much more expensive then i was asking for it.

  • Morgan January 10, 2013, 9:30 am

    Thanks for all the positive feedback everyone!

    @DOMAINANGEL.RU – love the phases, this is definitely the path many people take when they get started. While learning from your mistakes is one of the best ways to learn, reading posts like this will hopefully help more new Domainers avoid those mistakes. Thanks again for taking the time to put-together such a thoughtful comment, might integrate it into an upcoming post!

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