One of the questions I am most frequently asked is whether or not it is too late to make money in the domain business? Obviously, I thought the answer was "no, it's not too late" when I entered the field in 2002 (a time when a lot of others were getting out).  Over the past decade my answer has always remained the same. Despite the amazing number of twists and turns we've see in this industry over the years there is no business I would rather be in than this one right now.

The opportunities may not be in the same places they were ten years ago but there are still endless ways to make money with domains - in fact I would say there are considerably more ways to do it now than there were when I came in. The latest case in point came today from three well-known industry veterans who branched out from their .com roots to make a killing with the sale of a single .me domain they co-owned.

Three years ago Rick Schwartz, Michael Berkens and Ammar Kubba pooled their resources to invest in a handful of high quality one-word .me domains, including Meet.me - a name they paid $5,890 for. They just sold it for the astounding sum of $450,000. 

Clockwise from top left: Michael Berkens, 
Rick Schwartz and Ammar Kubba. 

Berkens provided the details on his blog today and noted how gratifying it was to prove (once again) that the success he, Schwartz and Kubba have had (and continue to have) is due to far more than being among the "lucky" ones who got into the game early. They continue to make money from the new opportunities that crop up with every turn in the domain road. That's the mark of successful serial entrepreneurs - not people who lucked out by simply being in the right place at the right time on one occasion a long time ago. 

In fact, luck has very little to do with it. It takes a  lot of hard work - often years spent gaining the kind of experience that allows you to recognize opportunities that others miss. But if you are willing to put in the work, do the research and take the calculated risks that all entrepreneurs have to take - you can make it in this field too and I continue to believe your odds are better here than just about anywhere else in today's economy.   

(Posted Nov. 10, 2011)