Despite what you read, especially on the Internet, there is money to be made in ANYTHING. In most things the easy money is gone but that doesn’t mean there isn’t money to be made. There are all kinds of niches, different approaches, and more creative ways out there to make money in certain markets. Again, it doesn’t mean it will easy, I’m just saying it’s possible. Most will fail because they AREN’T doing anything different than the rest that failed and are only driven by the “I think I can do better” plan rather than a different approach.
Recently there was a post saying that there was no money to be made in IDNs and that the big boys were out and therefore that meant that it was left for the fools. I must admit I don’t know the first thing about IDNs other than what Aaron Krawitz of IDNnewsletter has taught me. Aaron is a sponsor of my site and he is helping me understand IDNS. I am not an investor in IDNs but I want to at least understand everything about domaining so I can make intelligent decisions. No he did not pay me to write this nor am I writing this because he is a sponsor. I am writing it because people that think there is no money to be made in anything,especially IDNs are naive. The reason I am not in IDNs? To make money you have to do a ton of work. I don’t have time to do that…..yet. I laugh at the big boys talk as my whole life of trading, everyone followed the “big boys” and soon realized that the big boys were computers and only made “if this then that” trades. The big boys made their and moved on but the scraps were still billions of dollars to be had.
This is where the easy money statement comes in. Yes, the easy money has left much of the domaining industry. The $8 to $100,000 deals are over. You now have to invest more money and time to make money. Time and money that may not translate to good money or profits that are worth the time invested. Welcome to business. Most companies have to work very hard to get by. Most businesses fail. So if you want to take the pessimist view and you can say, “most likely you will not make money” then you are correct but to think you can’t make money isn’t.
If you want to throw your money away buy a developed name from someone else. I GUARANTEE if that domain had a good return vs effort put in they would not be selling it. Who sells easy money? Nobody. In my trading days people would sell stock picks. If they were solid stock pickers they would be trading their own picks making millions and have no need to tell others. If you are no good at something the best way to make money is to write a book telling others how to do well at it. In contrast, those that are doing well don’t talk about it. They don’t want others to know what there doing in order to keep others from copying them.
In summary, you CAN make money in IDNs, in anything, if you work hard and have a creative, intelligent business model. It’s doesn’t mean you will and yes, most don’t, but to criticize those that are trying is pompous. If someone is telling you how to make money or selling you something to make money, it’s a guaranteed way to not make a dime. You have to take that info and come up with your own approach or niche if you want to be successful. Of course you could just do it better but everything thinks they can do that.