On Saturday, February 23, I did a very crazy thing. I willingly jumped into 37’F water. They actually had to cut through the ice to create a place for us to jump. Why in the world would I do that you may ask, and I will tell you. It was for a very good cause. I participated in the Polar Plunge to support the Special Olympics of Colorado. I managed to raise over $900 in support, so there was no way I was going to let them down!
So what does that have to do with domaining?
1. A lot of people will tell you you’re crazy and try to talk you out of it.
While I had a lot of support, I also had a lot of people telling me what I was doing was crazy or stupid and I shouldn’t move forward. Sound familiar? A lot of people view domaining as crazy, even a waste of time and money.
2. You need support.
It’s hard to do anything alone, especially when you hear a lot of no’s, don’t do that, or it won’t work. Having someone cheering you on, to help you keep focused on the big picture is a huge asset. Every time I received a donation on my behalf for Special Olympics, it motivated me to keep trying. It’s the same for domaining. Whether you’re buying domains for flipping, long term investment, it’s easy to get disheartened when things don’t go your way. Having support will help keep you motivated when you most need it.
3. Believe in yourself.
Some people will tell you it can’t be done simply because it hasn’t been done before. Others because they themselves have failed. If you believe it’s possible, don’t let them determine your fate. I knew I could make the plunge and I really wanted to support the Special Olympics. If you have done the research and you believe deep down that you’re making the right decision, believe yourself, not the cynics.
4. Know when to cut ties.
While I won’t say that sometimes the naysayers are right, sometimes, you are going down a path that has a dead end, and it’s better to get out while you’re ahead. While I didn’t face the issue, not everyone can do the Polar Plunge. Health issues are a big factor. Don’t send yourself into ruin or to the grave trying to prove someone wrong. Sunk costs can be expensive, but there’s nothing you can do about it other than limit them from growing further.
5. Without some risk, there’s little reward.
Everything in life is a balance of risk and reward. In some cases, the risks outweigh the rewards, sometimes, there is no risk, but also no reward. Investing in domains is the same. You are speculating on virtual real estate. Sometimes that will pay off, sometimes it won’t. And sometimes, no matter how crazy, it’s worth doing. Just like being sponsored to jump in to freezing cold water.
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