Achieving Financial Independence with Domains

Chapter 21: Final Thoughts (by Rob Monster)

By October 1, 2019 January 6th, 2020 No Comments

The role of the Domain Investor is evolving. As you enter this market, keep in mind that the intention should not to be an opportunistic parasite that adds expense and friction to the process of getting domains into use. To the contrary, domain investors have an important role to play in the Digital Economy, and to add value to their communities.  Here are some things to consider as you contemplate the possibility of making Domain Investing a part of your future.

  • When in doubt, leave it out: Domains are like buses on a busy bus route. There is always another one coming. While it is often tempting to buy an available domain, if you cannot readily identify one or more very logical buyers with resource who would agree with you that a domain is compelling, you should probably not buy that domain.
  • Dig your well before you are thirsty: Your vendor choices and your relationship with those vendors will give you a lot of flexibility, e.g. when you need a hand with solving some problem or need to resolve some dispute.  If your strategic vendors know you, like you and trust you, they are more likely help you above and beyond what their terms of service require.
  • Do the right thing even when nobody is looking: The domain industry is a relatively connected one once you really get to know it. You are not more than 2 degrees of separation away from just about anyone you would want to meet.  This means that your choices – good or bad – will quickly determine your industry reputation. So, choose wisely!
  • The World is your Office: You are not tied to a single location in Domaining.  Full-time domainers can live and work just about anywhere. In the coming years, you will likely see Epik introduce a network of “Dojos” where domain investors can work together in fun, exotic locations around the world where the cost of living is relatively low but quality of life is high.
  • Pay it Forward: The nature of domain investing is that effective domain investors will have periodic windfall gains. While this can often lead to episodic personal indulgence, it is worth considering the notion that to those much is given, much is expected.  So, consider how you can most effectively use your windfall gain to lift up your fellow man or woman.
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