The domain name industry is full of people giving advice and the number of people offering advice has increased exponentially over the years. One of the biggest problems with the growth of the Domaining education space is that only a fraction of the people giving advice are speaking from experience, many are just trying to make money teaching something they’ve never actually proven out for themselves.
If someone like Frank Schilling gives advice, that’s a reliable source, he definitely knows what he’s talking about. If some random person on a forum “says” they’ve been Domaining for ten years but can’t prove it, take what they say with a very large grain of salt.
Here’s the catch.
Domaining advice, even from very credible real Domainers has a real expiration date. The reason for this is simple – we are in an ever-changing industry which means that industry experts more than anyone have to adjust their strategies over time. If you read advice that Frank Schilling gave five years ago I can tell you that some of it will still apply to how he invests today, other pieces won’t.
When you’re watching a video or reading a blog post it’s important to first verify that the person giving the advice is someone that has actually done it themselves. Then look at the date. People who gave advice to buy CHIPS in Q2 and Q3 last year were giving great advice and those who took it made a killing in Q4…that same advice does not apply today.
Domaining is a hard industry, very few make money but many like to pretend that they do. When taking advice be careful and remember, the experts aren’t doing the same thing every single year, they are changing their investment strategy to match the market. When you’re looking for advice first make sure it’s coming from a reliable source, and then make sure it’s still relevant.Photo Credit: JulianBleecker via Compfight cc