This side has a 39 -year -old Dennis Tennino of Los Angeles, California in Side Hustle Spotlight Q&A. Tenenino worked in online sales when he first learned about launching domain names and websites, helping him to find a domain investing as a side hustle. Here is how they converted the gigs into an attractive business that brings six figures in a year – with about one or two hours of work per day. Reactions have been edited for length and clarity.
Image Credit: Courtesy of domain smoke. Dennis Tinerino.
When did you start your side, and where did you get inspiration for it?
I started my side hustle in 2014, after finding out that the domain names are only like real estate, only online. The right people may realize that the price may increase, which I was required to dive. I was interested for the first time when I was launching a new website and came to a domain name for sale. I did not know what the cost could be, so I filled the form on the seller’s website. A domain broker of AFTERNIC replied, stating that the name was for sale and it would require a six-agent minimum proposal. Unfortunately, this domain was out of my budget for this project, but thankfully they were very helpful and explained why it was given importance at that price, even other names were suggested which were close to my budget at that time. That conversation attracted my attention and pushed me to a deep dive into the domain world.
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What were some of the first steps you take to remove your side from the ground? How much money/investment was made in launching?
When I started, I did not know anyone personally who was doing it, so I taught myself. I work in the blog, read the FAQ section on the marketplace and learn everything how I bought and sold the domain. Like most new investors, my first stop was Godaddy, where I began to register the domains that looked calm or interesting. Fortunately, I put my expenses in the check and bought only four domains for a total of $ 36. One of them, Loyerboss.com, finished sales for $ 700 for $ 700 in less than two months after purchasing in about $ 8. This sales was a turn. It was exciting to see that I could learn this process, lie a name and someone has actually bought it for his business. From that moment, I was bent and began looking for more ways to find new domains to invest.
If you can go back to your professional journey and change a process or approach, what would it be, and how do you want you to do it in a different way?
If I can expect in a time machine, I will go back straight and immediately sign up for the Domain Academy course in a day. It covers everything about the domain, with resources from A to Z, and nothing else like it. I could leave the months of testing and error, saving some brown hair and rapidly obtained as a whole with a deep understanding of the domain and industry. There are countless strategies in domain investment, but before you dive, you need to understand how the domains work, which final user are looking for and there are various ways to contact them. Trust me, learn this quickly is much cheaper than buying a cool name and expecting the best.
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When it comes to this specific business, you should be particularly challenging and/or surprising that people who come in this type of work should be prepared, but not the possibility?
The most difficult part for new people is getting the right education. Many jump into the blinds, leave the basics and spin their wheels. It is like trying to fix a car without popping the hood anytime. Without thinking -it is a quick way to waste time, burn cash and be rapidly disappointed. Another great surprise is how much a domain portfolio requires. It is not a purchase and forgets the IT business. You have to see your name, live with renewal, follow the market and be honest when it is time to let the names go which are no longer relevant or valuable.
Can you miss a specific example when something went very wrong? How did you fix it?
In my early days, I started doing outbound marketing to make interest and generate sales for my domain. I was not thinking about the trademark at that time and reached the companies that had similar marks as my name. That mistake gave me a pile of legal threats and conflicts and letters. Thankfully, I was able to solve each situation on good terms by searching common ground with parties involved. It was a valuable lesson to always check for the trademark before investing or reaching buyers, and I am happy that I learned it quickly. My priority list is more avoiding legal fighting.
How long did you take to see continuous monthly revenue? How much did the side hustle earn?
This domain was not from my second to third year of investment that I continued to come into monthly revenue. What I saw is that after my first year, when I began to educate myself more, began to build my domain portfolio with better quality domains and then began outbound marketing, my sales accelerated, and stable monthly revenue came in the first year. In the second year, it was in less five figures, and it ramped from there because I had invested more time and resources.
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What does development and revenue now look like?
Back in 2014, the portfolio was just a handful of domain. Today, it has increased from about 8,000 to 10,000 names. There were stretches where I was buying a name a day, and a few days I went into a competition and caught 20, in which profits were used to scaling and portfolio. Each year, I continuously added another 500 to 1,000 names, using different top-level domains (TLDs) and country code with top-level domain (CCTLDs) when I look at a trend. The actual development comes from .com domain, which is the most demanding with the last users. For the last five years, a few thousand dollars began as a few thousand dollars in a year, which produces six-stake revenue for the last five years. This development comes from years of research, tireless market tracking, careful portfolio maintenance and taking the right steps at the right time, even when they were difficult.
How long do you spend on your business daily, weekly or monthly basis?
On a specific day, I build one to two hours and manage my portfolio. In a week, it adds from 15 to 20 hours, and by the end of the month, it usually has 60 to 80 hours.
How do you structure at that time? What does a specific day or week work look for you?
My time is divided between portfolio management, fresh inventory discovery, outbound marketing and closing deal. Each week, I set separate blocks of time to review my portfolio, adjust prices and prepare names for marketing. Once you receive a few hundred domains, daily portfolio management becomes necessary. It is easy to allow small tasks to slip through cracks, and when mistakes occur. What has given me the most time is organized. It sounds as easy as it seems, but making workflows, keeping a detailed spreadsheet and using the right tool will prevent you from falling back on your daily tasks.
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What do you enjoy the most in running this business?
Domain investment can sometimes be a little lonely because you have to keep in hours to stay sharp and updated. But what I have enjoyed the most is the investor community. We are very active on X, and I have met incredible people from all over the world who have helped me develop as an investor, taught me a ton and became a lifelong friend.
The freedom that comes with this business is contrary to anything. You can run it from anywhere in the world with least technical skills. If you determine the rules, choose your hours, set your prices, choose to sell your names and choose which names you want to buy.
Over the years, as an investor, I saw myself thousands of domains to auction or eliminate myself every day. Many of those names were as great, I knew that I could not buy all of them, but I did not even want to see that those opportunities should not be noticed by other investors. This made me think how I can share this research and these conclusions with others. That is why when I launched the domain smoke, a daily newsletter shares the best domain in shared industry news, investment opportunities and the best domains in each day auction. Since its launch in 2019, it has increased for thousands of readers worldwide who read it every day.
So far, depending on your journey, what is your best advice for someone who wants to start with such a business?
When I started, there were some things that I could change if I could, and I hope my experience can help you succeed in your journey as a domain investor. If you are new to domain investment, here are three tips that can help you start on the right leg:
- Be patient with hand registration
This is not an easy, but you will thank me later. Try to catch the new domain back by hand registering until you have proper understanding of the domain investment. The easiest mistake to make initial mistakes is buying names that are unlikely to sell. Many of them have little or no appeal to eliminate users. You will not get the cost of both time and money back. Once you achieve the learning phase, you will have a lot of time to achieve the domains that are really compatible with your strategy. When you know what to invest, you will be happy that you are waiting. - Invest early in itself
They say that the more you learn, the more you earn, and this is definitely true with the domain. Avoid crooks mistakes by investing in your education. One of the best places to begin is Domain Academy course from Godaddy, which teaches the INS and Outs of the business. Like any other form of investment, there are many ways to make money, but the best way to improve the possibility of success quickly is to educate yourself. - Keep learning and follow the data
It is easy to start, create a little knowledge and then think that you know all this. But markets develop, trends shift, and change is stable. Stay up to date with forums such as domain blogs, industry news, eBooks, domains Sherpa Show and NamePros, which is full of free knowledge for beginners. Most importantly, follow the data. Study sales and trends using resources such as namebio, dotdb and dnjournal. These will help you understand what is really selling, what is trending and why. This insight gives you a competitive edge and aligns you with the market.
Related: I have interviewed over 100 entrepreneurs who have launched businesses of $ 1 million to $ 1 billion or more. Here is some of his best advice.
Start small, be consistent and give yourself time to learn. Every successful investor was about to start once. The more you study and track sales data, the faster your skill will become. And remember, the community aspect of this business also matters. Investors and connections you create can be valuable as your own domain.
