Frank Schilling Paul Sloan Interview
Apparently I have been living under a rock lately (or maybe just working too hard) because I just recently came across this great Frank Schilling interview by Paul Sloan that I had not read before. Great stuff and well worth a read if you have a few minutes. Here it is:
Click here for the full interview in text form.
One thing that I found so very true from the interview is when Frank mentions the Greater Fool Theory. Many domainers rely on making money off of a domain that they buy/register by hoping that they can find someone who is even dumber/more speculative than they are that will buy the domain from them for an even greater price than they paid for it without even understanding or attempting to understand the underlying fundamentals of what makes the domain valuable (or worthless) in the first place.
While it is certainly possible to make money using that strategy there will always be someone left holding the bag (the “Greatest Fool”) and all too often that greatest fool turns out to be the first person to register the domain because they get carried away with buying a ton of .hype and .trendy alternative TLD domains or domains that just plain don’t make any sense.
Be sure to educate yourself on the fundamentals of what makes a domain name valuable and then do all that you can do find those type of domains. Whether its the tried and true value of keyword domains names or domains with type in traffic (for the most part one and the same) be sure and do your homework rather than giving into the Greater Fool domaining strategy.
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