Partner Up For Bigger Returns and Lower Risk

 When I first started out domaining I begun with a friend I was already in the web development business with. We both had a solid knowledge of the web industry and had a vision that domain names would become hot property as the web expanded. In the early days the majority of our purchases were based purely on speculation, but once we’d had a few sales and demand picked up, we became more astute at knowing what to buy and what not to buy. The importance of that initial partnership formed an integral part of my success. Having twice the capital to invest in domains meant being able to expand faster. It meant being able to grow as part of a team in an industry where one is fairly isolated much of the time.

Some people think sharing the pie means less profit, but in fact it often means more. Having a partner not only means halving the risk but also having a second brain available to source great domains and come up with ideas for new ones. This means buying domains you wouldn’t otherwise have bought. You will also be able to invest in higher priced domains outside of your own budget, meaning bigger returns, albeit halved.

The impact of losing money isn’t as great in a partnership, and a good partner will assist you in the decision making process when you are caught in two minds. This assistance can be the defining factor in avoiding backing out of buying a winner or buying a loser. You see, a partner is for more than creating a bigger budget; a partner is for motivation, confidence building, reassurance, risk management and quality control.

Although I have since ventured out domaining on my own, I still maintain that starting out with a partner is a wise move. Of course, it goes without saying that your partner needs to be someone with a solid knowledge of the web and a broad understanding of how domain names are an integral part of cyber business, and of course someone you trust and get along with.