"Everything you do today should be with tomorrow in mind. Think about how purchases and sales will impact your business tomorrow and the next day. Don’t be afraid to take big chances because that’s how you will succeed. It’s very unlikely that you’ll make a lot of money by dabbling or by making “safe” purchases. Sure, if you have a long time horizon, you may create future value. That’s a gamble, although it may cost less up front.
Turning $1,000 into millions of dollars is not easy, it won’t happen over night, and it’s not a certainty. Without a doubt, if you listen to others, read the news, become knowledgable, and make wise decisions based on knowledge you’ve accumulated, becoming a domain millionaire is certainly achievable – even starting out today."
"Opportunities are out there now more than ever. This is a
great industry to be in. It’s the future and it’s still cutting edge. The
industry is still a baby. It’s not too late. You’re right on time! Even if you
are just starting and have little cash. I didn’t have much either. Remember I
started with a $3,000 investment a couple of years ago," Meystedt noted.
"Be willing to chase down hundreds of
leads. It will pay off. I’m willing to face failure 99% of the time, knowing
that something great might lie around the corner. Zig Ziglar said, "Failure is
an event, not a person. Yesterday ended last night.”
"So we keep talking about development and I have been talking about it since 1997. But developing without a real business behind it is missing something."
"Just think to yourself: wait a second. Am I really focused or am I just
kinda scattered out there saying I wish I could do these things. And that's why
you always have to pull it back and ask yourself 'what are the projects
meaningful to me and how can I get those done?'..."
"...You need to make sure what it is that you are doing is actually
contributing to your revenue and that is the biggest thing I think people forget
in the domaining world. They get flustered. They are doing 8 million things at
once and they start searching for more names to buy or searching for good deals
and they forget that they need to make money with their own names..."
"...Make that one [domain] the best it can be. Get focused. Get to work.
Don't get overwhelmed because that one name could turn into a revenue stream
that outranks twenty of your names because you put the time and energy in..."
Here is another good comment by Castello found on
this page.
"My brother and I don’t park many names and have trumpeted the advantages
of developing portfolios before anyone else (if there is another major
domainer who has been doing this with the majority of their portfolio before
1995 please let me know).
That being said, I agree with you that parking has played a critical
role in the evolution of our industry and I am certainly not in favor of
seeing it go. On the other hand, parking is the past not the future. When
you park a name – especially a really good one – you are essentially
consigning it to a slow death. Even worse, parking a name allows
competitors to develop their names and future dilute the value of your name (a
perfect example of this is the parked PalmBeach.com vs our developed
WestPalmBeach.com).
I could go on and on, but the bottom line is that anyone parking a name
in 2009 with a value of over 100K is essentially making a terrible business
decision.
PS: The answer to this is YES and it will happen in the next twelve
months (I know this for a fact): “You want a company to take on Google and get
advertisers to move to their network?”"