On this Sept 28, 2007 timeless entry to SevenMile.com, Frank cedes to the grounded, practical advice of fellow domain investor, Dominik Mueller, today a finance student at Hamburg University training on risk management at major banks. Dominik quit brokering domains a while ago – and stopped actively trading domain names altogether in late 2009 and has officially "quit" the domain business. But, thankfully, his excellent advice lives on.
Dominik argues that "it’s wrong that you’re too late. You can still start buying domains and make a living from it today. Generic domains have become expensive over the years and they’ll not stop going up in value anytime soon. Therefore, you must concentrate on cheaper domains and a way of finding good but affordable domains is to be creative."
In his post he compiled a list with a few tips on how to get into the domain business if you don’t have enough money to buy your way into the high end of the market. The topics include:
1. Register lots of domains
2. Register domains (lower volume approach)
3. Limited supply
4. Find good domains in drop auctions
Dominik concludes with a reminder, "Don’t be afraid of asking questions. Everybody had to start somewhere. There are “newbie” sections on all major domain forums where you can post questions, and in most cases there are experienced domainers who are very willing to share their knowledge."
His final sentence? “Good luck!” Read between the lines and Get all the details here:
Photo: Frank Schilling at DOMAINfest by DNJournal