The following article is a guest post from Dan Brown, who “enrolled” in Adam Dicker’s DNFCollege and earned an additional $40,000 in income from his domain investments.
Dan’s background is in finance and he was previously was a futures trader. Dan bought his first domain for his mother’s dry cleaning business (TheMasterCleaners.com) in 2005. He quickly realized that there was a huge opportunity in local search and he built a network of local search directories. In recent years, he moved onto specialist B2B lead generation with sites like epos.co.uk.
Just over a year ago I saw a post on Elliot’s blog about a new program from Adam Dicker. I’d been a member of DNF for a few years but had never really got into the forum. With an open mind, I got on board and just started reading. What Adam shared on the course was extremely valuable (and for free!). The key thing was, I put into action what I learnt.
I’ve looked at the sales prices I’ve achieved after the course and I’ve quadrupled my sales value (based on what I would have charged before the course and what I now charge for my domains).
I’ve made an extra $40,000 this year with Adams tips. It’s frightening how much money I’d left on the table in the past. His recommendation to move to the InternetTraffic.com sales/parking platform meant that for the first time ever I started getting properly paid for my traffic. I made more money in the first full month of parking, than I had in the previous year with SEDO. The sales platform itself also helps you make more money. There are very few other industries where someone would spend a small fortune developing a sales/CRM platform like this and give it away for free. If you haven’t tried it yet, I strongly recommend you do.
To my mind, there are 2 vital components of being successful in this business. The first is the ability to buy good names. It doesn’t come overnight, but it can be learnt. Until you can distinguish the characteristics of a good domain name, you don’t have a chance to make sales. If you spend enough time reading posts from people like Rick and Frank you can begin to distil the difference between a name of value and one without. I’d already worked this part out, because in the previous 5 years I’d been buying generic domains to use for various online businesses.
The second part of the equation is knowing how to sell your names to maximize your return. When I started the course, I didn’t have a good understanding of this part of the business. Adam provided a huge amount of information on how to make sure you don’t leave any money on the table. Some of the stories he shares show you the characteristics of good sales negotiation.
I decided earlier this year to reinvest some of the proceeds from my sales into further knowledge. The trouble with this industry is too much of what we learn is online through blogs and forums. There’s no substitute for meeting people. With that in mind, I took a flight from the UK to the TRAFFIC show in Fort Lauderdale.
I find it astonishing when I read the negative nonsense about shows like TRAFFIC from people who have never been. TRAFFIC delivers precisely what Rick says – it gets all the people you need to meet in a room. The magic is in that chemistry. I got to speak to people like Adam Dicker, Frank Schilling, Rick Schwartz, Michael Gilmour, Ian Andrew and Bill Lozada. What they all have in common, is that they are very open and if you ask them, they’ll share. It’s a priceless opportunity to further your education. It’s a truism that if you want to be successful in any business you should surround yourself with successful people – there’s no substitute for meeting people.
In addition to what I’d learnt at the show and the people I’d met – I left the show with a number of new business opportunities. By being a small, intimate show you really do have the chance to meet everyone and the invisible hand really is at work.
I’m not a pioneer in this industry and while of course the opportunities are not the same as they were in the early days, it’s fanciful to think that you can’t start in this business today and make money. The pioneers didn’t have a domainer playbook, but with so much information out there now, if you’re not getting the results you want it’s time to work a bit harder to educate yourself.