5 Reasons Why You Might Not Be Making Money Domaining

What is the #1 goal of almost any domainer? Making money. Of course, domaining is fun but spending thousands of dollars on domain names only to see them not bring in any cash flow or to not turn a profit when resold can take the air out of the sails of even the most happy go lucky domainer. Here are 5 reasons why you might not be making any money domaining:

#1 You Buy Domains Without a Clear Monetization Strategy

Domain monetization is really pretty simple in concept when you boil it all down. You can make a profit as a domainer when you buy a domain name and it brings in a steady cash flow through any number of different ways (parking, affiliate programs, advertisements, selling a product/service, etc.) or you can sell the domain for a price greater than you purchased it for.

Of course there are thousands upon thousands of different sub avenues to pursue once you choose one of the two monetization methods but for the most part those two avenues are all you have.

You can fail very easily in your domaining money making efforts if you just snap up domain names without at least first giving thought to how you will be able to monetize the domain names.

#2 You Aren’t Willing to Do the Necessary Domain Name Research

You must have a handle on the different metrics that you can use to research any given domain name and determine how much it is worth. Our domain name tools will save you a lot of time and do a lot of the heavy lifting for you (especially if you are a premium member and can schedule personalized domain alerts for yourself).

You must understand how having a domain name that matches specific keywords phrases that get searched in Google is valued. Our Type-In Traffic Finder and our Keyword Domain Repository can help you find domain names that are exact matches to keywords with search traffic in Google.

You must understand how data from Google, Yahoo, Alexa, Compete, and other sources all can help you in your research to find a great domain name. Our All-In-One Domain Auction Tool can help you make this kind of research a snap.

#3 You Are Not Willing to Invest in Yourself

Let’s say that you find a piece of software that will save you a lot of time and money (maybe like any number of the different pieces of software that I recommended in an earlier post “Do You Make These 7 Mistakes When Developing Your Domains?”).

If you are not willing to invest in yourself and your domaining business to constantly learn new things and learn how to do things better and faster then you most likely will be left behind at some point.

Realize that you do not know it all. Invest in yourself to learn as much as you possibly can. This investment can be in the form of software, our premium membership (where we will very soon be releasing premium members only domain development training tutorials and custom domain development services), or even just business books to help yourself run your domaining business better.

#4 You Don’t Follow Through

When you find a great domain name to buy and you either buy the domain name or bid on the domain name and then have the wining bid on the domain then it is definitely a high.

It’s easy to be excited about developing the domain name or even flipping the domain name for a resale profit during the initial rush. It’s sometimes much harder to stay excited weeks or months down the road when the monotony of writing good solid content or emailing potential buyers sets in.

If you have a problem following through with your plans for domaining profit then you are most likely leaving a lot of money on the table.

#5 You Don’t Pull the Trigger

You can do all of the research you want, read every news article on domaining, and use all of the domain name tools on our dashboard until you are blue in face but if you don’t take a risk and pull the trigger then you won’t make a penny. Take action and get started finding some great domain names now!

Enter your desired keyword(s) to start finding great domain names!

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Comments

7 Responses to “5 Reasons Why You Might Not Be Making Money Domaining”
  1. It all starts with research, and it actually involves research each and every step of the way in order to realize your goals.

    Most domainers don’t spend more than 2 mins when registering domains.

    Log in, input domains, checkout…

    You need to find the best domain, then…the best monetization options, etc.

    Gotta bust your ass sometimes if you want to make good money :)

    Good top five list.

    Keep them coming. I like the original content.

    Mike

    • Joel Ohman says:

      Thanks and you make some great points.

      Doing the necessary domain name research is not always fun (although it certainly can be most of the time) but IMO it is extremely important if one ever wants to make the transition from domaining as a hobby to domaining as a profitable money making business.

  2. I think I can some it up for you rather easily…

    treat your domaining endeavors as a REAL business.

    I’ve had this conversation with quite a few people…sure to be discussed again.

    Due to the relatively low cost of entry, domaining attracts a large pool of “investors.” Many are part-timers, hobbyists, or casual observers just “checking it out.”

    You need to realize that, like any other “for profit” industry, to increase your odds of success requires a major commitment of time, energy and determination. A repertoire of sales, marketing, and basic business acumen doesn’t hurt either.

    If you don’t think, act, and carry yourself like a professional, why should anyone else?

    Respect your business. That means continuous reading, studying, learning, contributing, and above all else, taking action!

    You can’t expect full-time results with part-time effort.

    Success is a manifestation of smart work.

    Nice list Joel.

    Kristoff

    • Joel Ohman says:

      Exactly. I couldn’t agree more. It really is amazing to see some people acting as if just by venturing online they can suddenly be capable of starting a successful business without the necessary hard work, dedication, and business knowledge.

      The same principles for offline business success are the same principles that are needed for online business success.

      You could maybe even argue that you need more of the aforementioned dedication when starting an online rather than offline business because there is not as much of an established roadmap in many cases (although hopefully when we release our domain development video tutorials for premium members soon that will hopefully help in that regard).

  3. Hey, Thanks for stopping by my site, nurtureyourwealth.com , before. On a side note I have found the above information you posted very useful, especially the domain research which is needed. Sometimes when people advertise they go for domain quantity over quality, but like you stated, you won’t be very effective using weak domain names.

  4. Nice post there. I have been thinking alot to start domaining but not much info about it. Your site has quite alot of info, thanks will surely keep this in mind when i purchase domains.

    P.S How did you get all those social bookmarking links, if your willing to share, kindly email me, thanks :)

    • Joel Ohman says:

      Thanks, we use the Sociable Wordpress plugin to display the social bookmarking links. We customized it slightly just so that the images were bigger. Feel free to rip the icons from us and copy the style info from our style sheet.

      If you have any other questions then feel free to let us know.

      Also, be sure and check out the details of all of our tools, our membership information, and our newly released services on our pricing page.

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