While the Coronavirus and what to do about it has been a polarizing topic in some ways, in other ways it has been a great unifier as we all come together as a global community, and in the domain investing world, as proud Domainers. As I’ve written about over the last few weeks, it has been great to see the domain investing community in particular come together, support each other, and help as each of us navigates the complexities in managing our lives amidst a global pandemic.
I think the hero of the day award should probably go to Michael Cyger, he’s been holding massive Zoom get togethers with domain investors around the world. I saw him mention on Twitter today that the most recent Zoom had 92 people on it at one point! Unfortunately I haven’t been able to attend, but fortunately, it’s because we are insanely busy at Bold Metrics and we’re working 10+ hour days every day. If we do get a break in the action I would love to join!
A lot of domain investors are wondering what they can do to optimize their domain portfolio and investment opportunities as we move into this next phase of life as we know it. It’s very likely that in the short term, things will change pretty rapidly, and after that, things will hopefully go back to “somewhat” normal, but they’ll likely never be the same.
Domain Investors from around the world have chimed in to share their two cents on what each of us can do as domain investors to thrive in this new normal. One that I’d like to highlight, hence the name of this post is Efty, who put together a really solid article on how to prepare your domain investment business for tough times.
Here’s one of my favorite points from the article about portfolio hygiene that I think is particularly important now more than ever:
Domain Name portfolio hygiene means reviewing the domain names you own on a regular basis and determining which ones to keep and which ones to liquidate or drop. You can do your domain portfolio hygiene review either once a year or once a month when you sign in to your registrar to renew domain names, but regardless — it is necessary to do on a regular basis to maintain a healthy and profitable investment portfolio. You only need to ask yourself three questions to maintain a healthy domain name portfolio:
1. How long have you owned the domain name?
2. How many unique visitors does the domain name receive per month?
3. How many offers have you received on the domain name?(Source – Efty Blog)
If you aren’t using a platform like Efty’s to manage your domain portfolio, i.e. if Excel has been your go-to, there’s never been a better time to make the move and get things organized. While these are tough times for so many people around the world, we can all do our part first by staying home and reducing the spread of infection, and second, by thriving so we can take the lemons the world is giving us now and making some damn tasty lemonade.
This weekend I’ll be spending quite a bit of time in Efty myself really getting things organized and ready for what’s ahead. There’s a lot you can optimize, and usually all you’ve needed is time…now, there’s no excuses, we all have the time. Thanks for reading and stay safe!