Long term plans

[domainseller200]

I am interested in hearing from those of you who are a full time domainer / developer and what your long term plans are - Especially if you are quite young in age

And I mean realistic plans, not "I plan on selling my 50 premium .me.uk domains for £3m in 2025" etc etc

Just curious where you see yourself heading and what your long term plans are

 

[JMOT]

Dear Frank,

When I grow up, I want to be just like you!

 

[domainseller200]

lol Tom - come on this is a serious question

Are you still wrestling with your mind, after out chat on MSN the other day ?

 

[jwm]

why not start with yourself Frank. What are your plans?

you show me yours and all that.....!

 

[JMOT]

LOL Frank no.... I've been taking my medicine the last few days again

Ok heres a grown up reply:

My long term plans are to have a slightly more diverse range of sites that are top of the SERPS in their chosen niche.

Invest in a genuinely good user experience to users by providing top quality consumer focussed content & tools. Add incremental value to my backend partners or merchants I do business with.

Do one job really really well before focussing development efforts on other projects.

To keep buying high quality domains, not to sell them unless its top top price or as a site being sold.

& most importantly, spend as little time actually working as possible


Pretty obvious really

 

[khalid]

Mine is simple - continue to buy and sell until I hit a site / idea that is profitable enough to live off. Build that up over 5 years and sell out when I get an offer I can't refuse.

 

[boxerdog]

I plan on selling my 50 premium .me.uk domains for £3m in 2025 :lol:

 

[doodlebug]

I plan on selling my 50 premium .me.uk domains for £3m in 2025 :lol:

And you're not kidding, :lol:

I'm hoping to stock up with 300 to 500 domains and hold onto them for the future in the hope that domains gain a recognised value and in the meantime i'm hoping that SB and Adsense will at least cover the renewals each year so basically they're free.

I will sell now but going to stick to end users and sell for £600 to £3000 each, I have configured 5 prices brackets for my domains £600, £1200, £1800, £2400 and £3000 depending on the domain in question, if I can't get at least £600 then it doesn't get sold, I am going to keep working part time though till I get going.

As for money I earn from domain sales and affs etc, I hope to re-invest 50% and spend 50%, I wanted to re-invest 75% but what's the point in making money if you never buy what you need / want

ps. I am getting my own tag in November to start catching for myself, still booking 1000 backorders with Domain monster though, also going to college on a 2hr per week course in web design so I can make better sites 8)

I am using 2010 to prepare for 2011

I reckon that domaining has another 5 years yet as is so going to take advantage.

 

[domainseller200]

Great answers tom and khalid

@jwm - it was more of a generalisation to be honest. I have fingers in lots of different pies and have diversified massively over the last 2 years. I get regular end user interest in some of my projects, but personally I feel the time is not right and they have not matured as much as I think they could.

My biggest problem is time management and spending 10% of my time on 10 different names as opposed to 50/100% of my time on 1/2 things.

My 5 year plan is to sell out everything I am involved with bar 1 or 2 things, and use the proceeds of the sale to live the rest of my life comfortably, whilst maintaining a fabulous monthly income with minimal input. I do have a solid and concrete plan both short and long term, I just need to apply the path I am laying down and stop getting distracted with all the goodies on offer all the time !

Part of the reason for this thread was after conversations with both Tom and also Pugyrob over the last few weeks, and it is interesting to hear other peoples plans for the future.

Excuse any typos as I'm writing this from my phone.

 

[domainseller200]

@doodlebug - don't mean to burst the bubble in anyway at all but, if you sold 500 names @ £1200 each then that's £600,000 which is obviously before tax. If you said you were spending half then that leaves £300,000 which means if your cost if living was £30k a year then it would only last you 10 years, so what are you planning to do then ?

Don't mean this in a negative way, just genuinely interested as im assuming your quite a young guy.

 

[JMOT]

Trouble is Frank, things move so fast in this game that making real long term plans can be hard*...

I wasnt in the niche I'm in now this time last year.... Look where I am now!!

I do think tho that once you have found a formula to success its easier to make short-medium term (1-2year) plans and try stick to them

*unless you manage to strike gold and grow into a proper company with a real brand, offices, staff & scalability etc etc etc - but then thats a lifestyle choice!

 

[domainseller200]

100% agree tom and especially how far you have come in 6-12 months. Things definatly move fast, and that's exactly why I asked peoples long term plans. What if domain names become obsolete on the whole, through technologies like the ipad etc. Obviously hoping that's not the case, but as things move so fast, I wondered peoples long term plans incase things went tits up etc

I suppose that's why I have fingers in different pies, planning to cover as many possible outcomes whilst working on an exit strategy at the same time.

Trouble is Frank, things move so fast in this game that making real long term plans can be hard*...

I wasnt in the niche I'm in now this time last year.... Look where I am now!!

I do think tho that once you have found a formula to success its easier to make short-medium term (1-2year) plans and try stick to them

*unless you manage to strike gold and grow into a proper company with a real brand, offices, staff & scalability etc etc etc - but then thats a lifestyle choice!

 

[pugyrob]

Long term is to have passive/outsourced nice income so I can work as a film critic and play poker in a few big tournaments a year.

Shorter term is to invest 90% of time into my best name/site instead of 5% over 20 sites. As Frank says, it's very hard to focus on one thing with so much going on.

Started using basecamphq.com to project manage and it's made me more efficient, should have done it years ago!!

Don't want millions, just comfort for family and good lifestyle/ job enjoyment.

Simple as that...

 

[doodlebug]

Domainseller200 >

As you said £300,000 if that happens then I would have enough to put plenty into other investments, I could buy some top generics for 10k each and get quailty sites made with them.

Also I have a new and unique product which I need cash to have developed, so that could maybe work for me ?

If all fails, I am doing a web design course so there should always be decent paid job opportunities there ( plan B )

As long as I get some of the money to spend for myself along the way then I am happy, I don't live in a huge house and have an expensive car so 15k will easily do me, at the moment I have a part time job plus I buy and sell stuff through Gumtree etc but pretty much just surviving to be honest so anything I earn over 10k per annum is a bonus believe it or not.

If you wondering how I can pay rent and bills on little money, that's because I live in a shared house at £65 per week including bills and I am staying here till I sort my finances out, it's a great incentive to do so

So here's to the future everyone

 

[SuziWong]

If you wondering how I can pay rent and bills on little money, that's because I live in a shared house at £65 per week including bills and I am staying here till I sort my finances out, it's a great incentive to do so

So, Doodlebug, that PM you send me was fairytale?

I suppose big house you mention is really Strangeways Hotel, and Ferrari is airfix kit?

You people not nice to me!

 

[doodlebug]

So, Doodlebug, that PM you send me was fairytale?

I suppose big house you mention is really Strangeways Hotel, and Ferrari is airfix kit?

You people not nice to me!

Suzi darling, it was the only way to get you into bed

Got to say it was easy :lol:

ps. You got a tenner I can borrow

 

[doodlebug]

Yes me too, I know exactly what I am doing...... or maybe I won't do that, I might do this instead :?

I use to be a day dreamer but now I am in a coma

Sean that's a mad conclusion, I can't quite figure it out

 

[rob]

Is bank robbery still frowned upon as a career?

 

[julian]

I think domaining is a hobby for me, the trouble is its an expensive one.

the other problem is that I hate the internet, domains, apple products and social networking sites. I hate seo and all that shite...

I hate dnforum and a4u forum, and i especially hate affiliate blogs.

I want to vomit when I see social network bookmark icons on peoples webpages - like stumbleupon etc.

I weep when I see embedded twitter feeds in sites spouting mindless drivel..

I suppose there is some money in this malarky for those that work hard or really just in the right place at right time.

my long term plan is to never use the internet again to make any money - i just want my '1 Star' for using the milkshake machine in McDonalds

let me die in domainless..

 

[doodlebug]

I think domaining is a hobby for me, the trouble is its an expensive one.

the other problem is that I hate the internet, domains, apple products and social networking sites. I hate seo and all that shite...

I hate dnforum and a4u forum, and i especially hate affiliate blogs.

I want to vomit when I see social network bookmark icons on peoples webpages - like stumbleupon etc.

I weep when I see embedded twitter feeds in sites spouting mindless drivel..

I suppose there is some money in this malarky for those that work hard or really just in the right place at right time.

my long term plan is to never use the internet again to make any money - i just want my '1 Star' for using the milkshake machine in McDonalds

let me die in domainless..

I'm sure you'll make it one day, just keep going in Mcds every day for 5 years until they notice you and give you a part time job cleaning and work you up to drive thru hatch, just lie there in bed imagining what the view is like through that hatch..............

Dream on but be realistic

Until then enjoy working at Mr Chips takeaway