The dictionary defines art as “the expression or application of human creative skill and imagination, typically in a visual form such as painting or sculpture, producing works to be appreciated primarily for their beauty or emotional power”.
The same can be applied to domain name investing. It is truly an art form, and much like art, you can only learn so much before your creative expression, instincts, and imagination need to fill in the blanks. You can learn how to hold the brush, how to stroke the canvas, how to blend the colors, but that will only take you so far. You must understand that on top of learning the fundamental basics, you must dive deeper and develop many more attributes.
From what I have seen, there are some very important attributes that set the Rembrandts of our industry apart from the rest of the crowd. Here are my top 7 observations:
1. Instincts
For starters, the true artists in our industry have impeccable instincts. I am not talking about that “feeling” they get when they are at the roulette table and something tells them to bet on 18 red. I am talking about experience rooted, finely tuned, precise and machine like instincts that took an incredible amount of work to develop.
2. Valuation
They have an uncanny ability to valuate domain names. They have studied the market to the point where they can valuate both the wholesale and retail price of a domain name to within a few percent of its actual sale price.
3. The Right Domains
They understand that a domain name is much more than just a couple of keywords with search volume and CPC. They know that the domain name will eventually be the foundation of a company's brand. They fully understand all of the factors that go into making a domain name valuable and they always choose the best variation of the domain name to invest in.
4. Work Ethic
One the most important pieces to the puzzle. Hard work, ever heard of it?
5. Negotiation Skills
The best of the best will eat you alive in a negotiation situation. They have studied the art of negotiating to the point where there is no winning for you; you will cave into their will, every time. Even if you don’t know it’s happening.
6. Discipline
This is without a doubt one of the biggest fundamental attributes that differentiate the wolves from the sheep. It is crucial to the success of any investor. You need to set a code, and follow it.
7. Attitude
Truly successful domain name investors are some of the most interesting people in the world. They have a “can do” attitude. They are generally very positive, optimistic, and bold. You tell them it’s impossible and they show you it's not. They smile, laugh a lot, and have fun. They believe they are successful, therefore more success is drawn to them.
As you may know, there are always more variables at play; however, if you look into all of the true artists in our industry, they all have those 7 things in common. Not everyone can develop those attributes. Why? See #4. Not everyone who works hard can obtain success. Why? See #7. Not everyone with a good attitude can make can make a profit. Why? See #'s 2 & 5. You can see that all of these are must have attributes in order to truly paint a masterpiece.
In my opinion, art is an incredible journey of self discovery and with it comes a lot of responsibility. You are responsible for learning the truth. You are responsible for being honest, not only with yourself, but with others and the industry as a whole.
The art must always flow through you with the purest of intentions.
The same can be applied to domain name investing. It is truly an art form, and much like art, you can only learn so much before your creative expression, instincts, and imagination need to fill in the blanks. You can learn how to hold the brush, how to stroke the canvas, how to blend the colors, but that will only take you so far. You must understand that on top of learning the fundamental basics, you must dive deeper and develop many more attributes.
From what I have seen, there are some very important attributes that set the Rembrandts of our industry apart from the rest of the crowd. Here are my top 7 observations:
1. Instincts
For starters, the true artists in our industry have impeccable instincts. I am not talking about that “feeling” they get when they are at the roulette table and something tells them to bet on 18 red. I am talking about experience rooted, finely tuned, precise and machine like instincts that took an incredible amount of work to develop.
2. Valuation
They have an uncanny ability to valuate domain names. They have studied the market to the point where they can valuate both the wholesale and retail price of a domain name to within a few percent of its actual sale price.
3. The Right Domains
They understand that a domain name is much more than just a couple of keywords with search volume and CPC. They know that the domain name will eventually be the foundation of a company's brand. They fully understand all of the factors that go into making a domain name valuable and they always choose the best variation of the domain name to invest in.
4. Work Ethic
One the most important pieces to the puzzle. Hard work, ever heard of it?
5. Negotiation Skills
The best of the best will eat you alive in a negotiation situation. They have studied the art of negotiating to the point where there is no winning for you; you will cave into their will, every time. Even if you don’t know it’s happening.
6. Discipline
This is without a doubt one of the biggest fundamental attributes that differentiate the wolves from the sheep. It is crucial to the success of any investor. You need to set a code, and follow it.
7. Attitude
Truly successful domain name investors are some of the most interesting people in the world. They have a “can do” attitude. They are generally very positive, optimistic, and bold. You tell them it’s impossible and they show you it's not. They smile, laugh a lot, and have fun. They believe they are successful, therefore more success is drawn to them.
As you may know, there are always more variables at play; however, if you look into all of the true artists in our industry, they all have those 7 things in common. Not everyone can develop those attributes. Why? See #4. Not everyone who works hard can obtain success. Why? See #7. Not everyone with a good attitude can make can make a profit. Why? See #'s 2 & 5. You can see that all of these are must have attributes in order to truly paint a masterpiece.
In my opinion, art is an incredible journey of self discovery and with it comes a lot of responsibility. You are responsible for learning the truth. You are responsible for being honest, not only with yourself, but with others and the industry as a whole.
The art must always flow through you with the purest of intentions.