A very interesting blog post over at Tech Crunch talks about human nature and the tenancy of selling out too cheap when faced with a buyout offer, or as the author puts it:

“””Entrepreneurs selling companies too early.

“””Several entrepreneurs here have described themselves as having a huge appetite for taking risk on the front end; but being risk-adverse when it comes to turning down a huge chunk of money for their dream.

“””Most people in the world would take the certainty of $1 million over a chance they could make $30 million.””

True.

And therein lies the key to being a really successful domainer.

It’s easy to look at those million dollars sales and say those guys are so lucky, or what a great deal they got, but in fact we forget how many offers they had along the way that they turned down.

Take the recently reported sales of Auction.com or Candy.com.

Sure the numbers are impressive and great for the sellers.

But how many offers did Rick turn down for Candy.com over the years.  I’m not talking about the silly $500 offers,  but the serious offers all great domains receive over the year, in the hundreds of thousands or low 7 figures?

How many $500K offers did the owner of auction.com turn down before selling it for $1.7M ?

How many of us would turn down “big money” to hold out for even bigger money.

You have to admire those who do.

And learn from them.

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