Want to learn about Domain Investing? Don’t Forget, Most Advice Has An Expiration Date

Expiration Date

The domain name industry is full of people giving advice and the number of people offering advice has increased exponentially over the years. One of the biggest problems with the growth of the Domaining education space is that only a fraction of the people giving advice are speaking from experience, many are just trying to make money teaching something they’ve never actually proven out for themselves.

If someone like Frank Schilling gives advice, that’s a reliable source, he definitely knows what he’s talking about. If some random person on a forum “says” they’ve been Domaining for ten years but can’t prove it, take what they say with a very large grain of salt.

Here’s the catch.

Domaining advice, even from very credible real Domainers has a real expiration date. The reason for this is simple – we are in an ever-changing industry which means that industry experts more than anyone have to adjust their strategies over time. If you read advice that Frank Schilling gave five years ago I can tell you that some of it will still apply to how he invests today, other pieces won’t.

When you’re watching a video or reading a blog post it’s important to first verify that the person giving the advice is someone that has actually done it themselves. Then look at the date. People who gave advice to buy CHIPS in Q2 and Q3 last year were giving great advice and those who took it made a killing in Q4…that same advice does not apply today.

Domaining is a hard industry, very few make money but many like to pretend that they do. When taking advice be careful and remember, the experts aren’t doing the same thing every single year, they are changing their investment strategy to match the market. When you’re looking for advice first make sure it’s coming from a reliable source, and then make sure it’s still relevant.

Photo Credit: JulianBleecker via Compfight cc

{ 16 comments… add one }

  • Candace May 21, 2016, 2:52 pm

    I just wanted to say thank you for the advice.

    Reply
  • Joseph Peterson May 21, 2016, 4:27 pm

    “If someone like Frank Schilling gives advice, that’s a reliable source”

    Things are nowhere near that simple, Morgan.

    Frank Schilling is (I think) a smart honest guy. And he certainly made millions by investing in domains many years ago. But today’s market conditions are completely different. Indeed, the situation most domainers are faced with is something Frank Schilling has never and will never face.

    These days, Frank makes money by promoting Uniregistry – his registrar, parking company, and market place. Not to mention the many nTLD registries he’s invested in, ranging from .SEXY to .PROPERTY. Apart from Uniregistry, Frank is also a major investor other registry companies such as Vox Populi’s .SUCKS and Rightside.

    Clearly, he has a vested interest in seeing his companies, investments, and the nTLD program as a whole succeed. That DOES mean convincing domainers to buy what he’s selling. I’m sure Frank believes sincerely that this is a good thing. But it’s important to keep in mind that his advice is bound to reflect that financial motive, that ambition.

    Frank Schilling may give good advice or bad advice, as the case may be. Most of the time, though, he’s promoting his own companies … as he should be. He isn’t neutral. And his earlier success as a domain investor gives him no special authority to talk about the current domain market.

    When Frank Schilling declared that there were more millionaires in China than people in the USA, many domainers lapped it up … despite the fact that it was verifiably false. This helped justify the Chinese surge in their minds. And I still heard that nonsense from people at NamesCon. Because Frank Schilling said it, it was gospel!

    The accuracy of advice isn’t measured by the size of the bank account giving it … nor by the name of the advisor. All that matters is evidence, argument, and testing. Plenty of domainers who have been quite successful nevertheless don’t spend their time these days analyzing the market and doing research. Maybe they still give good advice. But we should examine the advice itself and not get fooled by ad hominem fallacies, assuming that the identity of the speaker makes something true or false.

    For the record, I’m not bashing Frank Schilling. Personally I own thousands of Uniregistry nTLD domains. In this context, Frank is just an example of someone who can be rich but wrong, successful but unreliable. Like every human being.

    Reply
  • Jeff Schneider May 21, 2016, 6:40 pm

    @ Joseph.

    Well said and oh so true. There are many so called experts ranting and raving misrepresentations for their own vested interests. Our Industry is rife with outright opportunists spouting false information, which for newbies is quite frustrating and often lethal to their bottom line. People such as Rick Schwartz are much more trustworthy than most other so called experts. That being said even Rick makes mistakes but more often than not they are unintentional.
    Those being new to our Industry, have no sounding board or experience to know the difference between opportunistic B.S. and the real thing. Rick Schwartzs Historical Archives at ricksblog are the absolute best UNCENSORED source in our Industry. He rarely censores comments in his still functional Educational site that is an absolute Gem in our Industry. If you are not taking advantage of this invaluable body of information you are sacrificing a competitive advantage

    Gratefully, Jeff Schneider (Contact Group) (Metal Tiger) Former Marketing Analyst/Strategist Rockefeller IBEC Group) (Licensed CBOE Commodity Hedge Strategist)

    Reply
  • MoveCon May 21, 2016, 11:11 pm

    Reading the “advice” was a time wasted… till Joseph P. has commented.
    Kudos to you, Joseph, you’re one of the very few that speak little, but when they do, speak with sincerity.

    Reply
  • Joseph Peterson May 21, 2016, 11:27 pm

    @MoveCon,

    Thanks for the kind words.

    I do think Morgan makes a very good point about advice having an expiration date. The industry changes constantly. All the more reason to be skeptical that past success gives any domain investor special insight into the future.

    Reply
  • Ben May 22, 2016, 7:26 am

    Well, you might educate yourself by watching how Frank and others did their money https://www.youtube.com/channel/UCFXHZI6cfMZJ9eyQGXYD6kw/videos . Yes, smart , but not smart enough.

    Reply
  • Ben May 22, 2016, 8:27 am

    Hey Morgan,,, why didn’t you publish my comment? You are just another internet hypocrite.

    https://www.youtube.com/channel/UCFXHZI6cfMZJ9eyQGXYD6kw/videos

    Reply
    • Morgan May 22, 2016, 5:12 pm

      Hi @Ben – for some reason it was flagged by my spam filter, just updated so your comments will auto-approve going forward!

      Reply
  • Krishna May 22, 2016, 9:06 am

    Several times, Joseph Peterson (not in this case) comments are more informative than the blog posts. This industry needs more such people.

    Reply
  • Candace May 22, 2016, 6:16 pm

    I think Morgan’s advice is valid. I think Joseph’s point/advice is also valid. Thanks to you both.

    Reply
    • Morgan May 22, 2016, 8:19 pm

      Thanks for the great comments everyone, agreed Joseph does share some very valuable insights in his comments!

      Reply
  • DN Invest Ltd May 23, 2016, 9:40 am

    Advice related to any trend should be considered as valid only for the next few weeks and after that should be reviewed.

    The best advice, that is valid forever, is read, read, and read. Domain investors should understand domains and how they work, but should also be aware that most end users don’t really understand domains and their value. Otherwise every EMD with high exact search and commercial value of the keyword would be worth much more than you can get on the current market.

    The same advice might work for someone, but will not work for someone else.
    Domain investing has many models. I personally, and my company, use more than one model. Each model has its own advice.

    Reply
  • Naz May 23, 2016, 11:12 am

    Somebody said 2-3yrs ago that 5n.com was trending and I began to purchase some. But then thought it was wrong and let them expired. But now it turned out to be right? 5n.com is now worth thousands !

    That’s maybe example of expired advice.. in a good way 🙂

    Reply
  • Jeff Schneider May 23, 2016, 7:33 pm

    Hello Morgan,
    We must be in your spam filter? Jeff Schneider?

    Or are you are censoring Rick Schwartzs followers?
    Please take off spam filter and post my comment that was censored
    Thank You Morgan

    Reply
  • domain gamer June 4, 2016, 1:49 am

    My thoughts….I have been domain investing for 8 years now. My beliefs are if you’re buying domains there are basic rules to live by. if you don’t at least follow them you shouldn’t be in the domain business. The rest of it is: Unless you have a glass ball or can predict the future it’s definitely a crap shoot. Some people have been lucky yes, and bought at the right time. I have yet to see any of these new gtld’s ranking on Google. My expert advice is stick with .com’s. it will be long before the rest of the population starts using the new extensions. They are the bank. Not the handful of investor’s buying the new ones hoping you’ll jump on their hype. Then there are the one’s giving advice that years ago purchased the great one word com’s. I take their advice with a grain of salt because you can’t compete with them. The real successful one’s give you bits and pieces. But they never tell you exactly where when or how.

    Reply
  • George Tylor Saint June 5, 2016, 10:53 am

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    Reply

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