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10 Excuses Newbies Use for Domaining Failures (And How to Overcome Them)

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The domain industry can seem complex and intimidating for newcomers. Early failures are common when starting out. However, avoiding self-sabotage is critical. Many new domain investors unknowingly construct mental barriers rationalizing subpar results. Identifying the psychological pitfalls is the first step towards self-improvement.

Don’t worry – you’re not alone. Many newcomers to the domain industry tend to make excuses for their lack of success. But these excuses are simply masks for the underlying issues and can prevent you from making progress. Read on to learn how to destroy assumptions holding you back from advancement. The path to success begins with accountability.

Excuse #1: Gurus Are Always Hiding Something

Newcomers often rationalize mediocrity by believing experts withhold tricks guaranteeing profits. But genuine mastery develops incrementally through grit. It’s essential to note that no one is born with a magic formula for successful domain flipping. Domain experts have spent countless hours researching and studying the industry, and have learned from their failures along the way. They didn’t achieve their success overnight, and they definitely didn’t do it without any effort. Seek to learn from veterans rather than envy them. Embrace trials and errors as feedback mechanisms. In time, you can also pay it forward mentoring new investors one day.

Actionable Tip: You should focus on learning from them and using their advice to your advantage. Listen to their tips on domain research, pricing, and marketing strategies, and implement them in your own domaining activities.Moreover, you should remember that there’s no one-size-fits-all approach to domaining. Each domain is unique, and what works for one domain may not work for another. So, don’t be afraid to experiment with different tactics and strategies.

Excuse #2: I Don’t Have Enough Experience

Another assumption is that innate talent overrides perseverance. It’s true that experience can make a huge difference, but it’s not the only factor that determines success in this industry. The good news is that there are many ways to gain experience in domaining, even if you’re starting from scratch. However, greatness stems from lifelong learning. Begin accumulating experience through small actions today. As momentum builds, so will conviction. Stay open and lean on peers while independently developing discernment through mini-experiments.

Actionable Tip: One way to gain experience is to simply start buying and selling domains. You’ll learn a lot through trial and error, and you’ll quickly develop a feel for what works and what doesn’t. It’s also important to educate yourself about the industry by reading books, attending conferences, and networking with other domainers. There are many great resources available online that can help you get started.

Another way to gain experience is to partner with more experienced domainers. This can be a great way to learn from someone who has been successful in the industry, and it can also help you get access to better domains and buyers. Look for domainers who are willing to mentor or collaborate with you, and be open to learning from their expertise.

Excuse #3: The Buyer Doesn’t See The Value

This is one of the most common excuses newbies use when their domain names fail to sell. They believe that the buyer simply doesn’t see the value in their domain name. However, this is not always the case.

As a domainer, it is your responsibility to showcase the value of your domain name to potential buyers. You need to present the benefits and advantages that come with owning your domain name. You also need to do your research and find out what similar domains have sold for in the past.

Rather than blame others, introspect on why your pitch fails to convey value. Study marketplace metrics and segment buyers to tailor arguments. Collect testimonials from early adopters and keep innovating on positioning. Remember that empathy, not anger, creates breakthroughs.

Actionable Tip: To overcome this excuse, you need to learn the art of effective communication. You need to find out what motivates your potential buyers and address their concerns. Show them how owning your domain name can add value to their brand or business. If they still can’t see the value in your domain name, move on to the next potential buyer.

Remember, the buyer’s inability to see the value in your domain name is not a reflection of your domain name’s actual value. It’s simply a matter of finding the right buyer who sees the potential in your domain name. Keep at it and never give up. Success in domaining requires persistence and patience.

Excuse #4: I Don’t Have Enough Money

Capital constraints are understandable but can also become indefinite procrastination buffers. It’s true that investing in domain names requires some upfront capital, but it doesn’t mean that you need to have a lot of money to get started. Demystify monetary aspects through meticulous tracking. Analyze niches offering bootstrapping pathways. Money tends to follow capability rather than precede it.

Actionable Tip: One of the best things about domain investing is that you can start with a small budget and work your way up. There are plenty of domains available for registration at low prices that have the potential to be valuable in the future. Additionally, there are many domain marketplaces that offer payment plans and financing options to make it easier for new investors to get started.

Another thing to keep in mind is that domaining doesn’t require a large amount of money to maintain. Once you’ve registered a domain, you only need to pay the annual renewal fee to keep it. It’s important to do your research and choose domains that have potential resale value to make sure you’re investing your money wisely.

If you’re really strapped for cash, there are still ways to get involved in the domaining community without spending any money at all. You can join online forums and communities where you can learn from experienced investors and get advice on how to start with a small budget. You can also attend domain conferences and events to network and learn from others in the industry.

Remember, having a small budget is not a barrier to success in domaining. With the right strategy and approach, you can build a profitable portfolio over time, even if you start with just a few dollars. Don’t let the excuse of not having enough money hold you back from pursuing your domaining dreams.

Excuse #5: I Don’t Have The Right Mentor

The truth is that there are no tutors in the domain market. Sure, there are plenty of resources available online and in books, but ultimately, you have to do it yourself.

Domaining is a skill that you can only learn through experience. It’s not something that can be taught in a classroom or through a mentorship program. The best way to become successful in domaining is to get out there and start buying and selling domains.

The belief that a magical mentor with elite shortcuts exists inhibits self-driven progress. Be your own mentor through rigorous goal setting and accountability. Learn widely through content vs chasing role models. Develop mental models detecting promising opportunities early while pragmatically assessing risks.

Actionable Tip: Catalog insights threads from podcast interviews with veterans. That being said, it’s not a bad idea to seek advice from other domainers. Joining a domain forum or attending a domain conference can give you the opportunity to connect with other professionals in the industry. You can ask for feedback on your domain names, get advice on pricing and negotiations, and learn from the experiences of others.

But don’t rely on others to do the work for you. At the end of the day, it’s up to you to make the right decisions and take the necessary risks in order to succeed in domaining.

Excuse #6: I’m Not Lucky

One of excuses newbies use for their failures in domaining is “I’m not lucky.” They believe that only those who have luck on their side can make it big in this industry. While luck may play a small role in some cases, it’s not the only factor that determines success.

In reality, success in domaining requires hard work, patience, and a good strategy. Sure, there will be times when a great domain falls into your lap, but these situations are few and far between. Most of the time, you’ll need to put in the effort to find, acquire, and sell domains.

Actionable Tip: Keep an open-ended “luck log” tracking serendipities. Be prepared to put in the time and effort needed to succeed. Domaining is not a get-rich-quick scheme; it takes dedication and persistence. Don’t give up if you don’t see immediate results. Keep pushing forward, and eventually, you’ll start to see success.

So, if you find yourself using “I’m not lucky” as an excuse, it’s time to reframe your thinking. Luck is not the only factor that determines success in domaining. Focus on developing your skills, putting in the effort, and staying persistent. With these things in place, you’ll be on the path to success in no time.

Excuse #7: Domaining is Dead

Naysayers have repeatedly proclaimed domaining’s demise over the decades yet the market continually reinvents itself proving pessimists wrong. This is perhaps one of the most common excuses newbies use when they experience failures in the domain industry. The argument is that with the saturation of the domain market, it is almost impossible to find a good domain name that hasn’t already been taken. The result is that the demand for domain names has plummeted, making domaining a futile venture.

While there may be some truth to this, it is not entirely accurate. It is true that the competition in the domain industry has increased in recent years, and finding premium domain names can be challenging. However, it doesn’t mean that the industry is dead.

Actionable Tip: It is important to note that even though finding premium domains may be difficult, it is still possible. In fact, the competition for quality domains only adds to their value, and if you manage to find one, you could sell it for a considerable amount of money.

Moreover, the domain industry is continually evolving, and new opportunities are arising. For example, the rise of new domain extensions such as .tech, .store, .io, and .app is providing a fresh perspective to the industry, and investing in them could be a good move.

Finally, it is crucial to keep in mind that any industry requires time and effort to master. Newbies may be too quick to dismiss the industry, failing to give it a chance to learn the ins and outs. Therefore, rather than believing that domaining is dead, it is best to focus on gaining knowledge and mastering the art of finding good domain names.

Excuse #8: I Don’t Have Enough Time

Effective time budgeting separates achievers from dreamers. Prioritize activities generating disproportionate customer and revenue impact. Track efforts yielding negligible results and tweak strategies utilizing available time more intelligently through systemization. Stay resilient by breaking ambitious targets into daily bite-sized tasks.

Actionable Tip: One way to do this is by setting priorities. Identify the tasks that are most important and tackle them first. This will help you stay focused and productive throughout the day. Additionally, consider delegating some tasks to others or outsourcing them altogether. This will free up some of your time and allow you to focus on the tasks that require your expertise.

Another way to save time is by automating certain tasks. For example, you can use tools like domain management software to help you streamline your domain portfolio. This will save you time by automating the process of buying, selling, and managing your domains.

Finally, be mindful of how you spend your time. It’s easy to get distracted by social media or other non-essential tasks. Instead, focus on what matters most and try to minimize distractions. By doing so, you’ll be able to use your time more effectively and achieve greater success in your domaining endeavors.

Excuse #9: I Haven’t Tried Hard Enough To Sell

Let’s take an example. Suppose someone has registered several .link domains, but they haven’t made any sales yet. Instead of blaming it on the domain extension or lack of demand, they need to assess whether they have done everything possible to sell their domains. Instead of blaming external factors, reflect honestly on whether your sales process itself needs strengthening despite domain quality.

Actionable Tip: One of the critical aspects of selling domains is to list them in the right marketplace. With hundreds of domain marketplaces available, it’s essential to choose the one that aligns with your niche and target audience. If you haven’t listed your domains in the right marketplace, you’re already missing out on potential buyers.

Another important factor to consider is the pricing strategy. You need to have a realistic valuation of your domain and price it accordingly. Overpricing or underpricing your domain can deter potential buyers. Additionally, you need to have good negotiation skills to close a deal successfully.
Marketing and promotion are also essential to reach a wider audience. Use social media, SEO techniques, and email marketing to create buzz around your domain. Showcase the unique features and potential of your domain to attract potential buyers.

Excuse #10: I Already Know Enough from Social Media

With the proliferation of social media, it’s easy to get caught up in the hype and think that you already know everything there is to know about domaining. However, the reality is that while social media can be a valuable source of information, it can also be a source of misinformation and hype. Many self-proclaimed “experts” on social media have little to no real-world experience in the domaining industry, and may be more interested in selling their own products and services than providing unbiased advice.

Actionable Tip: It Is important to take a step back from social media and focus on reading more, and posting less. This means investing time in reading industry publications, attending conferences and networking events, and seeking out the advice of experienced domainers.

Conclusion

The first step to getting unstuck is acknowledging when you are self-sabotaging through excuses rooted internally rather than external variables. Outlined here are pragmatic ideas on how to recognize and respond to the 10 most common psychological traps new domainers encounter during their journey. Stay self-aware, focus on progress measurement and replace resignation with experimentation. You write the story – make it count!