I swear to you that the entry bar to the domain industry is only in your mind. A good mind can come into this industry TODAY and set up shop and within a few years, make his/her fortune. How? Well actually there are many ways.
It takes some hard work to start, but most of that hard work comes in the way of thinking. Many folks just "Do". I say "Think". Then do. Then think again and either do or undo but don't just keep going and going and going. Each step needs to be traced and retraced. That is the path to ensure you get it right. Get it right without getting lost or off on the wrong path.
I hope to share a small journey with you in the coming days. One that I hope will show you a tried and true path to fortunes still to be made here in domaining. I think I can prove that there are still veins to be minded and plenty of gold left for those that can see the future from here and how things may unfold in time when we look those 5-10 years or more down the road.
Find what works and just repeat, repeat, repeat.
Buy what you can afford to lose no matter what business you are in.
No money to start? Get in the middle of a deal. That takes no money. Just takes thinking. Takes recognizing an opportunity and then acting on it.
Want the "Easy Button"? Get the foundational things right and you will own an "Easy Button". But until then, if you are not willing to put in 14-16 hour days, you get what you get.
2014 will be a very exciting year for the domain industry and well beyond. The topic will be domains and websites and web strategies and everything web and internet related. Everyone knows their very survival orbits around the Internet from here on out. The focus and money will come in like a tidal wave. Probably 2nd and 3rd quarters of this year. But all year there will be big moves made by many. Facebook is on a buying spree and they should be. Why sit on billions of dollars that lose buying power each and every day when you can grow that money instead by buying and integrating profitable businesses?
Retailers will have to analyze those holiday numbers and they are going to one day come to the realization that for folks like JC Penny and Sears to survive, they need to start closing every store that is not growing in sales. BOOM! Just like that. Done! Overnight. Stop the hemorrhaging and focus on what works. Take some of those employees and train them how to use Facebook and Twitter and all the rest and unleash their power of change. The game is over guys. Time to rethink the next 100 years or you won't be around to rethink it. Time is running shorter and Amazon is growing bigger.
I don't think opportunity in domaining is solely dependent on the size of your wallet. Yes, sometimes it does, but most of the time it does not. Has more to do with your timeline and strategy. I really do see 6 figure domains that I would not consider buying and I see $1000 domains with 6 figure values. Our eyes all see different things based on our life experience. Some things work over and over again and some things fail over and over again.
The future we share is very bright and many fortunes can still be made. Discovering a path that works is perhaps one of the hardest and most sought after intangibles in the world. But intangibles are what makes opportunity. Thinking how to use intangibles in different forms is the roadmap that fortunes are made.
If you are not finding the success you deserve, I always say stop, take a day off. Relax. Enjoy. And then spend another day just thinking and crystallizing those thoughts. Go deep my friends. Your futures depend on it and deserve it.