Playing “the numbers game” or process duplication?
If you have a large portfolio, specifically one where the majority of names only cost reg fee, you are playing the numbers game. You’re registering and buying domains that might work in volume, selling a few here and there, but enough that your sales cover the losers
Or are you? From the outsider perspective you are. You’re using a shotgun to hit the target, some pellets will hit, but most will fly off to the side. In the end it doesn’t matter how many miss so long as the target was hit. It’s a simple concept and in general I agree with it.
I disagree with this concept from an operator perspective, or at least I strive to disavow the concept. Not the part where I need to hit the target, but rather the idea I’m buying up names hoping that a small percentage will sell and that my “volume” will make up for my mistakes.
Like with any domain strategy I need to have confidence in what I’m buying and selling. It doesn’t matter if I pay $8 or $8k for a single name, I need to have confidence the name has value to someone.
I also need to realize that in most cases my intended buyer audience is different in each order of magnitude. In the $8 range I’m not looking for a rare fish, just one in a school of ambition fish. There’s always the chance for a “lottery ticket” in this range too.
If I’m the person working the $8 range, my goal should be the same as those in the $8K range, buy names that I think will sell, sell them, and do it over and over again.
The key difference here is that my mindset as the seller should never be one of the volume seller or “playing the numbers game”, I have to believe that each name I buy and try to sell has value to someone. I need to remind myself that I’m not playing the numbers game, I’m taking a concept that worked on a small level, with only a few names, and applying scale to it.
This is how most successful business works. You find something that works and exploit it. I’m sure that Shane’s family business started with roadside stand selling tulips, either better tulips than anyone else or in a place where no one sold tulips. When they figured out what worked they built a bigger stand, then a store, and so on. I have no idea how it played out, I made this up, but the principle is the same, find something that works and go with it.
One thing to keep in mind, is that while you are trying to duplicate your success on a scalable level your work load and problems will scale along with it. There are more things to keep track of more moving parts that need to be oiled.
The other thing that might happen is that you go crazy, buying domains that don’t meet the your original criteria of domains that have value and that a business would want. If you do this, if you get caught up in simply adding inventory you are indeed playing the numbers game.
Lets bring these ramblings back to around and summarize: Whatever size your portfolio is shouldn’t matter to how you operate. The goal is to find something that works, understand it and duplicate it.
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Orgasms.com Hmm it’s plural. Is it like one then a 45 min break with a sandwich and Gatorade and then another? Or One right after the other?
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Your LLLL.coms of The Day
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