In my post from earlier today I talked about where I buy most of my domains right now one of my readers made a comment that I think is one of the best I’ve had ever on my blog. It’s a lesson that took me years to learn and honestly I don’t think I could have said it better myself:
“One of the keys to domaining is upping your game when possible. Bottom fishing works but is slow and labor intensive. It takes just as much “time” to make $10,000 as $1000.”
This encapsulates what has allowed me to take a business making a few hundred dollars a month into a six-figure business. The funny thing is some of my most profitable deals have taken less times than domains I’ve sold for a few thousand dollars. It’s so true, bottom fishing does work and selling ten $500 domains does equal $5,000, but it takes a lot more time than selling one $5,000 domain, of course making this leap didn’t happen overnight.
There are so many different ways to build a Domaining business but when it comes to your time, bigger deals really are where it’s at. If you think you can’t play in a bigger arena, you’re wrong. If you’re spending $500 hand-registering 50 domains, take that $500 and put it into one domain, then go from there.
As long as you keep re-investing your profits into bigger and better names you will inevitably end-up in a world where bigger deals happen more frequently, and yes, it does take just as much time to make $10,000 as it does to make $1,000 or even $100 in some cases!