It’s such a common thing to feel that you have ‘missed the bus’ with domaining. It’s easy to think “oh, if only I had been around in 1995 to register those million dollar names.”
But think about it. 1995 was nearly 20 years ago. Instead of looking back, look forward. 20 years from now is 2033.
What will people be sad they missed out on then? What opportunities, right at this moment, are people taking advantage of that will pay off big by 2033 or even 2023, 10 years from now? People are probably laughing at them now, telling them they are wasting their time. But in 2033, they will have cashed out big time already and be sipping exotic drinks on a beach in a Florida!
All throughout history there have been opportunities for quality business. Not scams, or cheap gimmicks- Opportunities for genuine innovation and chances to proceed the crowd to find success.
I still think that in the realm of technology, we are standing on the precipice of an unparalleled period of development. Now that so many people have computers and are building on each other’s inventions, the rate of innovation is just unbelievable. Some of the tech gadgets and futuristic things that are coming out are amazing. From the guy here in Australia who built a hoverbike prototype, to the birth of the future of gaming with the Occulus Rift to the guy in New Zealand who made a legitimate jetpack… we are seeing some remarkable things, once only dreamed of, now becoming reality.
Who knows what the world will look like in 2033. But you have to try to work out what it will look like so that you can position yourself well.
When it comes to domaining, I still think we are in the days of infancy.
The fact that you can still get quality 2 word .coms on the expiring market for under $50 is a unreal. I’m sure when I have kids one day they will heckle me for all the domains I could have registered but failed too.
“Dad, you mean to tell me that in 2013 you could buy a 3 letter .com for under $7,000, AND YOU DIDN’T GET EVEN ONE? Do you realize what they would be worth today?”
I hear it all the time with property. In Australia you hear stories of immigrants moving here in the 60′s and 70′s and buying houses for less than $10,000, houses that today are worth over a million. I think it will be the same with .com domain names.
Of course, there could be a paradigm shift which totally devalues .coms or even all domain names. That’s a risk, and if you are going to invest in domain names long term, you have to accept that risk. Personally I think the potential rewards outweigh the potential risks if you are prudent and wise with the names you choose to invest in.
I think the future is bright for this industry.
Do you realize how many people today have no idea how to register a domain name? No idea how to set up a website?
We have to remember that anyone over 70 years old was alive when Hitler was alive. Some of those guys were around before TV was popular, let alone domain names and the internet. And yet the technological growth that has happened since then will pale in comparison to what happens over the next 70 years- the growth will continue to be exponential from here.
And it’s the next generation, the millennials who will be responsible for taking the domain name market into the stratophere one day- this is the generation that grew up on the internet.
When they are in their 50′s and 60′s, when even they look technologically primitive compared to their kids and grand kids, a vast majority of people will be domainers, or at the very least they will know how domains work and what their value is. There will be no asking about how it works or what it’s all about, people will know because they all grew up spending a large portion of their childhood living on virtual games and social media sites under domain names.
If you want to be a long term investor in quality .coms, you haven’t missed out. There are plenty of domain names out there for sale on the expiring markets and elsewhere at prices that will seem mind blowing 10 or 20 years from now.
Your grand kids are either going to respect you for taking the opportunities of your day and building great wealth, or they will wish you were one of the ones who did!
Of course, don’t jump in head first. There’s no rush. Time spent getting properly educated usually equates to money saved in the world of business. Learn what makes a domain valuable. The vast majority of .coms are worth less than registration fee today, and they will still be worth less than registration fee 100 years from now. Get the education and start investing. If you’re aiming long term, strap yourself in because at some point it’s going to become a wild ride.