Domaining Mistakes, Life Issues, Monetizing Domains, Personal September 24th, 2007
I love DNJournal’s detailed profiles of major players in the domain name business, telling how they got started and how they made it big. Today I re-read Sahar Sarid’s story for the third time. I’m also big fan of his blog, TheConceptualist.com. I learn something from it every day. So I went back and read his story again, because I am in need of some encouragement…
Like Sahar, I am intelligent and I read voraciously, but was a rebel in school. Like Sahar, I struggled for many years and once drove an ice cream truck. Like Sahar, I believe in looking ahead and creating my own opportunities, and like Sahar I believe in doing something that will benefit people and make the world a better place, not just enrich me personally.
And yet I’m struggling. I’ve been in the domain name industry for two years, but I don’t feel that I’ve gotten the return that I had hoped for. I needed to be reminded that many of the very wealthy domainers of today came from humble roots. I needed to be reminded that it doesn’t take a lot of money to get rich in this business. It takes grit, study, perseverance and the ability to learn from your mistakes.
Don’t get me wrong, my situation is not totally bleak. I’ve made some nice sales, and I’ve managed to build a portfolio that gets a lot of traffic, but only about 20 of my domains are truly profitable. As for the others, I have yet to figure out how to monetize the traffic properly. For example, I’ve got this one domain name, WebPark.net, that gets 500 uniques per month but has only a 1% CTR. The result? It makes a little over $1 a month. Ok, technically it’s profitable since it makes more than its reg fee, but it’s not nearly fulfilling its potential. Another, merkezi.org (merkezi means market in Turkish) gets 270 uniques per month and only 0.75% CTR. Less than one percent! You want one of them? Make me an offer. Maybe you can monetize them better than me.
I have many like that, and they’re driving me batty. Good traffic, low CTR. Almost all are parked at Sedo. I need to begin working on strategies to monetize them better. I’ll move some to other parking services, and for others I will build small websites. Others may become blogs. And some I will sell.
I spotted a few suggestion’s in Sahar’s bio that may help me, such as brokering domain names to gain experience, and finding a system that works and building on it. I do believe in this business, and I do believe in what I’m doing. I think I’ve got all the pieces of success laid out in front of me; I just need to figure out how to assemble them properly.
Are you struggling in your chosen industry, whether it’s the domain name business or something else? What strategies do you use to keep yourself motivated? Are there certain people at the top of the industry who inspire you? Tell me about them.