If you can't get over the hurdle of Need, Want and Desire, you can't even talk about value or price. Now unsuccessful domainers and those in failing businesses everywhere ignore these 4 simple elements. Easy elements. Elementary elements. The basis for business itself. But if you don't get that part, how are you as a domainer going to have the capability of looking at something through the eyes of another? The John Jones Story. Go search for it on my blog if you are the type to progress.
So let me help define it for you so maybe you will see why you are not succeeding and on the wrong track. And for those that are doing well this will reinforce and sharpen what you already do naturally but may have never sat down to isolate each piece of the equation of business like I am about to do.
I know I repeat Need, Want, Desire a lot. So ask yourself why? It was the missing elements of gTLD's that led me to figure this out and not articulate a bit further. At the end of reading this ask yourself the question. Put anything you want to the test. Is it needed? Is it wanted? Is it desired? And "Need" is the top of the pyramid.
: a situation in which someone or something must do or have something
: something that a person must have : something that is needed in order to live or succeed or be happy
: a strong feeling that you must have or do something
: to desire or wish for (something)
: to need (something)
: to be without (something needed)
: to want or wish for (something)
: to feel desire for (something)
: to express a wish for (something)
: to long or hope for
: the amount of money that something is worth
: the price or cost of something
: something that can be bought for a low or fair price
: usefulness or importance
: the amount of money that you pay for something or that something costs
: the thing that is lost, damaged, or given up in order to get or do something
: the amount of money needed to persuade someone to do something
These are the building blocks of business! Any business. Any good or service. Without defining and fulfilling these elements means you can't. And if you can't failure is in the direction you may be heading.
The difference between a $100 domain and a $1 million domain is understanding this post. There is nothing to argue with here. If you are arguing, you are not understanding. You are not wrapping your head around the most basic building business principles. You have an opportunity to change that right now.
These are not things I was ever taught and I doubt they teach this anywhere to begin with. Just things I was able to figure out over time and experience. Take it for what it is worth.