Why do we hoard domains?
I asked a few founders this recently and was shocked at how many unused domains entrepreneurs have stashed away.
What's your current count?
I'm at 6.
I asked a few founders this recently and was shocked at how many unused domains entrepreneurs have stashed away.
What's your current count?
I'm at 6.
I get psyched about an idea, come up with a clever name, then I buy the domain. Only for it bite the dust later on. I forget whom, but one of the podcast guests called it Entrepreneur ADD. :P
I need a better mindset/approach, but here is my unfortunate story.
The last 3 products I've built, I've spent between $2,000 - $3,000 to buy them from domain reseller sites. 2 of those 3 products have been worth it (revenue generating), but the other I never really followed through on.
I've spent hundreds of hours looking for good domain names for products I want to build (in the future).
Two years ago, when the .app domain extension was released, I spent over $15,000 on some awesome names, in the hopes that my domain searching future was solved.
I really gravitated towards .app as my 2nd alternative to .com. Unfortunately, when it got time to renew them, the cost was $15,000 again (no price break for renewals) :(
I ended up letting most of them expire (over 200) and kept about 3 or 4 for names I really thought I could use for upcoming projects.
I have about a dozen domains sitting on the sidelines now for future projects.
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It was 15K, I couldn't afford the renewals. Not looking for sympathy, it was quite foolish... but, at least for me. I've had a problem with the appeal of domains. Still hoping the 4 I hung on to will pay dividends one day.
This comment was deleted 4 years ago
All good haha, one of the dumbest financial decisions I've ever made. My co-workers still make fun of me every chance they get. I got suckered into the new .app domain frenzy and the adrenaline did it's thing.
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They're a commodity LOL.
Just piggybacking on what @janetacarr stated. I (like many others who have an idea for a startup/project) get excited about the prospects of an idea I have and immediately look/buy a domain name for it. Sometimes i follow through on that idea but most times I don't (trying to break that habit).
I also invest in domain names to resell. Ironically, I learned/got started in domain investing because someone emailed me and offered to buy one of the few domains I had an idea for but ultimately never used.
At the moment, I probably own around 300 or so domain names.
Was this thread made for me? I currently have almost 40 unused domains. I might have a problem.