Why Most Domainers Give-Up

Why Most Domainers Give-Up
One of my favorite quotes of all-time is one by Frederick Douglass, “without a struggle there is no progress.” I found this quote in a book back in 7th grade and it’s stuck with me over the years.
This quote has helped me find strength at a number of different points in my life and Domaining has been no exception. What I find dissapointing is that many people start-out in this industry excited and ready to conquor the world and then leave soon-after, bitter and a few thousand dollars in the hole.
What I think plagues these new Domainers is the belief that Domaining is easy. As a broker I receive lists and lists of domains many of which I cringe to think someone even took the time to register. I am always completely honest with anyone who contacts me as I see no benefit in sugar-coating the situation many new domainers have put themselves in.
Over the last two years I’ve seen some dreams shattered and some champions emerge. The interesting thing about both is that in many cases – they all make the same mistakes…it is how you handle the mistake that defines your success, or failure.
You see – I too reached the dark pit of dispair – realizing about 6-months in that I had registered thousands of dollars of truly worthless domains. Immediately I thought – this is the struggle I need to be successful. I learned from my mistakes and moved on.
But guess what? I made more mistakes! In fact every month I make mistakes – but rather than getting angry about it – I learn from each and every one of them. No matter what you do – if you believe in yourself then fail, fail, and fail again – but don’t do it without learning each time!
So why do most domainers give-up? Because they fail and think of that failure as a bad thing. Next time you fail – relish in it, enjoy the moment, learn from it and MOVE ON. This industry is just beginning and ten years from now those of us who are successful will probably be the same people who failed the most!
On that note – October 2009 came-in as my most profitable month ever – beating an already incredible September. I can say that the changes I’ve made in my business this year are responsible for that success and the lessons all came from some very valuable mistakes!

One of my favorite quotes of all-time is one by Frederick Douglass, “without a struggle there is no progress.” I found this quote in a book back in 7th grade and it’s stuck with me over the years.

This quote has helped me find strength at a number of different points in my life and Domaining has been no exception. What I find dissapointing is that many people start-out in this industry excited and ready to conquor the world and then leave soon-after, bitter and a few thousand dollars in the hole.

What I think plagues these new Domainers is the belief that Domaining is easy. As a broker I receive lists and lists of domains many of which I cringe to think someone even took the time to register. I am always completely honest with anyone who contacts me as I see no benefit in sugar-coating the situation many new domainers have put themselves in.

Over the last two years I’ve seen some dreams shattered and some champions emerge. The interesting thing about both is that in many cases – they all make the same mistakes…it is how you handle the mistake that defines your success, or failure.

You see – I too reached the dark pit of dispair – realizing about 6-months in that I had registered thousands of dollars of truly worthless domains. Immediately I thought – this is the struggle I need to be successful. I learned from my mistakes and moved on.

But guess what? I made more mistakes! In fact every month I make mistakes – but rather than getting angry about it – I learn from each and every one of them. No matter what you do – if you believe in yourself then fail, fail, and fail again – but don’t do it without learning each time!

So why do most domainers give-up? Because they fail and think of that failure as a bad thing. Next time you fail – relish in it, enjoy the moment, learn from it and MOVE ON. This industry is just beginning and ten years from now those of us who are successful will probably be the same people who failed the most!

On that note – October 2009 came-in as my most profitable month ever – beating an already incredible September. I can say that the changes I’ve made in my business this year are responsible for that success and the lessons all came from some very valuable mistakes!

{ 10 comments… add one }

  • Arbel November 7, 2009, 3:26 pm

    Very nice post , Morgan !

    If you want to be successful you have to make mistakes, but what difference the strong from the weak is who can recover from that.

    I see it all the time in my Offline business, The best salesman’s in my business can recover form almost anything and move on to the next person.

    Cheers,

    Arbel

    Reply
    • Morgan November 8, 2009, 9:28 am

      Thanks @Arbel!

      Reply
  • Jeff November 7, 2009, 7:12 pm

    Only those who dare to fail greatly can ever achieve greatly.

    Reply
    • Morgan November 8, 2009, 9:27 am

      @Jeff so true!

      Reply
  • Noo Yawka November 8, 2009, 8:46 am

    This post is a mistake!!!!!!

    There, I hope you feel better now 😉

    [In case you don’t get it, it’s ironic humor]

    Reply
    • Morgan November 8, 2009, 9:27 am

      @Noo Yawka – haha 🙂

      Reply
  • nSathees November 8, 2009, 9:25 am

    So, why don’t you disclose what are the changes you did to improve, so that new domainers could follow.

    Reply
    • Morgan November 8, 2009, 9:27 am

      Thanks for the comment @nSathees and VERY good point!! I’ll do a post on the top five mistakes I’ve made and what I’ve learned from them!

      Reply
  • Jamie Parks November 8, 2009, 10:29 am

    Domainers fail because:

    1. They reg junk domains.
    2. They don’t understand development.
    3. They can’t afford renewals.
    4. They lack confidence and blame it on lacking support from others.
    5. Get burned out sitting in front of a computer.

    Domainers succeed because:

    1. They do their research. (buy in the aftermarket.)
    2. They learn to develop or team up with developers. (earn revs)
    3. They implement a consistent marketing/sales strategy.
    4. They are enthusiastic, passionate and confident.
    5. They take breaks.

    Reply
    • Morgan November 8, 2009, 1:45 pm

      Thanks @Jamie – absolutely true and a good list to include with this post!

      Reply

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