Six years have passed since I went full time into domain names... so this convo with @DomainNameWire seemed like a perfect place to share some of the things I've noticed along the way.
My brain was going faster than my mouth during recording, but afterwards I took a bit of time to think about some additional tips for new investors or anyone else thinking of making the leap:
1) Don't quit your day job! Do whatever it takes to delay going full-time as an investor. Once you need those early profits for living costs, you lose out the advantages of reinvesting and compounding. You can also balance out the volatility of domain sales with a steady income source - it's a lot less pressure/stress, especially during dry spells.
2) It takes time ... to learn, and time for capital to compound. Maximising time in the game is half the battle. Some domainers give up before they reach a critical velocity - and others don't get off the ground because they haven't made enough effort to learn before buying names. Prioritise long term survival over trying to get rich quick with luck-based outliers.
3) Keep learning. There's a ton of awesome content out there - podcasts, blogs, investors here on X and domaining forums too. We're lucky to have so much data and information available to us. There are more tools out there than ever before too - filtering and finding names has never been easier.
4) Make friends. Find yourself a small cohort of similar like-minded investors you can chat to... people at a similar level and maybe who've started at a similar time. Learn together and sharpen each other. Question, support and inspire each other. Go to conferences and meet other people in the industry too - you'll be surprised how much you'll learn in person that you won't online.
5) Health is wealth. It's cliche, but the grind takes its toll - mentally and physically. Long hours sat at the computer. The isolation of working alone, often late at night. The ups and downs of the game. The constant burden of 'hindsight'. It all adds up... so looking after yourself is priority number one. Without that, it all means nothing.
Hope you enjoy listening. Thank you to Andrew - it's always a pleasure chatting with you.
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How can @usesav still have the same issue of their contact / support not working? This was reported at least 6 months ago. They're developing the front end / ai, but not fixing teh core issues for current users.
That’s wonderful. Great conviction. I think it was Josh that convinced me to focus on the intelligence element, leading me to add a bunch of these in .com (best being IntelligenceLab(.)com which I picked up via DNX as well - a double Josh input). Well done again. So kind of you to share this to validate and inform
@DomainSherpa@andrewrosener@J10enbaum@AmmarKubba@namejet Enjoying this episode until I got to the bald discussion. I too want to improve domain success, so I will need to inform the hair transplant is no longer happening. She’s coming for you Drew
I have an exact match _____capital.com and there is a v successful investment firm operating on the word(.)capital and another niche US VC firm operating on the ___capital.co. General emails to them have been ignored, so either they don’t want it, they don’t understand why they should have it, or they don’t care. It’s not a price issue. Project to try and convince their management team why this makes sense.