“Don’t be romantic about your domains. Don’t fall in love with them. You’re not a collector of domain names, you’re an investor.” – Michael Cyger at DNAcademy
Last week we talked about money management and its crucial impact on our success as domainers. Small changes in money management can make or break our business. One of the biggest mistakes we make as domainers is renewing domains that have little chance of selling in the next one or two years.
If you had zero end user sales last year then renewals will likely take you further into the hole. If you had a few sales then renewals can still significantly erode your profits. So it’s a fine line to walk.