With Focus Comes Drops
Whether you are a new domainer or an industry veteran, registering a domain name can be similar to opening a gift during the holidays. The element of surprise can be quite fulfilling. As with gifts its the thought that counts and sometimes you find yourself returning an item that you just didn’t need. Your aunt doesn’t need to know that you returned the tube socks she purchased for you!
Every domainer eventually realizes that focus is the key attribute to becoming successful in this industry. They have what I like to call a “domainer wake up call” which is another way of saying an epiphany. Mine came in the form of a portfolio assessment. I realized that there is a large percentage of domain names that I just don’t need anymore. Now only if these domain names could be returned back to the store from where they were purchased.
Unfortunately, these domain names can’t be returned! Instead of wasting anymore time or effort on the names I’ve decided just to let them drop. My focus as a domainer has changed and I’m happy to say that I’ve been able to increase the value of my portfolio by shifting what I concentrate on acquiring. These days I am focusing less on registering forum / dictionary based domain names. Forums had a nice run while they lasted and can still be extremely valuable if developed properly, but I can honestly say that I do not have the time to focus on developing forums any longer. As for dictionary based domain names, the majority of the terms that I would register are being held hostage in another domain investor’s portfolio. Instead of searching for such terms in vein and wasting a great deal of time and effort, I’ve decided to throw in the towel on these names.
I am letting the majority of the dictionary domain names which I currently have in my portfolio drop! I couldn’t see myself developing half of the dictionary based words. My main focus these days are geos, product names and lead generation. When I say geo, I am referring to my surrounding areas. I have no business in registering domain names for a small town in Texas. Since most of the great city domain names in my area are taken, I have decided to focus on geo-community based domain names. Although this term may have an alternative meaning, I am focusing on regions of the city which aren’t necessarily listed on a map.
I’m not exactly sure how many domain names I have let drop this year, but it is safe to say that it has been in the double digit range!
Drop it like its hot!
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June 1, 2010 10:23 am
Jason,
I agree 100 % (I am in the process of dropping a large number of my domains too)!
Most of mine were purchased with the intent of reselling them … but if they are hand registered names that haven’t been been sold or made at least the renewal fee within that year … they will be dropped!
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June 1, 2010 10:43 am
Jason,
You might also want to consider emailing a few people with “similar” names to try selling them (this past weekend, I sold about 12 of the names that I was dropping … a few of them were already in PendingDelete status! I renewed the pending delete names, once I got a price from the buyer in the low $xxx range for each name!).
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June 1, 2010 11:23 am
Jason,
I couldn’t agree more, great post! It’s like spring cleaning for one’s domain portfolio. This also ties into your prior post about watching the bottom line and cutting domains that take away from cash flow!
Best,
Ian
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June 1, 2010 11:56 am
I’ve dropped quite a few domains as well in the last month. Most of them was real garbage, I managed to sell a few on forums for around reg fee so at least I got some money back.
Btw. You might want to switch your header ad to something else then the dead Bido one!
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June 1, 2010 4:03 pm
I’ve done the same. It’s often better to let some of them go than putting effort toward selling or developing if you know your time could be better invested in your higher value names.
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June 1, 2010 6:29 pm
@Ron, I completely agree with you as well. I just might have to try what you suggested. Once I free up a little time, I will see about contacting a few of those domain owners.
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June 1, 2010 6:30 pm
@Ian, spring cleaning is good for the soul.
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