Domain Investment Business Lesson #1
The domain investment business is very small, and because of that, most people within the industry know each other well or at least know of each other. Although most people work independently, there are times when working together can benefit all parties.
If I know someone is looking to acquire a particular type of name, I may personally reach out to that person if another acquaintance is selling a similar name. I don’t do it for a commission, rather, it’s out of courtesy to help two acquaintances make a mutually beneficial deal. Likewise, if I see something shady that may impact an acquaintance, I am quick to point it out, also as a courtesy, because I would hope for the same.
In an industry where thousands of dollars can be transfered for a domain name based on a few emails, honesty and trust is the most important thing. This is the most important lesson to heed in the domain business.
I haven’t been in this business for a long time, but I have seen my fair share of things that leave me shaking my head. Some people will do whatever it takes to advance, risking their own financial status and their reputation. Perhaps making an error in judgment once will be forgiven, but if it’s done more than once, others tend to believe it was more than just a simple error.
The domain investment industry can be fun and lucrative. If you are just starting out, remember that there are no shortcuts, and honesty and integrity are two of the most respected (and expected) qualities.
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