Rubix Cubes, Merry-go-Rounds and Domain Names

http://www.ricksblog.com/my_weblog/2007/09/time-it-is-meas.html

Rubix Cubes and Merry Go Rounds ...   I just love these two analogies.  ..Great post.

Quote: ""Having a billion at age 90 does not have the same value as a few million at age 30. The sweet spot of life is what it is all about. My sweet spot is passing quickly. lol. ""

I've thought a lot about the time value of money and quality of life over the last few months.  My extended summer vacation gave me a great opportunity to experience what life would be like if I had no responsibilities..  no blogging, no decisions aside from whether to have the chocolate biscotti or the bluberry scone with my latte at the Starbucks..  Will I bike or rollerblade around the park today?  Where do the kids want to go?

I can't think of another business that allows you the latitude to truly "Live Life" like the domain business does.

Take you're average 90 year old billionaire and he or she (if they haven't made it through inheritance) has made a faustian bargain..  they have traded their time away for money..  Domain registrants don't have to make that bargain.  You get to decide how hard to work, how to live, but you don't need to work in order to live.

I've had more than one acquaintance who has never dabbled in the domain space, recently start acquiring names for value ..  20k, 40k in order to start their million dollar business.  This is new outside money coming in to build small sites for cashflow.

It's not too late to get those names yourself and to hold them until they naturally increase in value or until you decide to build them out yourself.  The price of entry to the merry-go-round has changed..  But it's still affordable when compared with bricks and mortar opportunities...  and you don't have to sacrifice 'quality of life'  to do it.

Comments

[Kevin]

For sure! I can't think of any business out there that provides as perfectly balanced and rewarding a lifestyle as Domaining. It's simply AMAZING in every way!

You can operate a global enterprise from the comfort of your home office.

You can operate thousands of properties with just two simple work tools a keyboard and a mouse.

Your domains work day and night for you non-stop without every a single complaint or demand from them. LOL

You deal with like minded entrepreneurs all over the world that are all fascinating and highly driven go getters.

You have unlimited income potential and opportunities with practically zero risk.

You have no customer headaches to deal with like in a retail business.

You can make money from any business niche sector out there with your domains.

And the best part of all, even after being in it now for many years it's still FUN! There is absolutely nothing as exhilerating as going on those fast and furious keyboard warrior hunts for still unregistered and dropped domains to discover.

I've actually kneeled down on many occassions after great domain buys and sales and said "Dear God, thank you so very much for this incredible business of ours."

Ahhh as they say in Hollywood, "There's no business like the Domain Business . . . "

[Tim]

With people like you squatting over all the good domain names and not allowing people who truely have a passion for developing websites besides spammy index pages and contributing something to society, it's impossible to make any more money in the domain business unless you have over $100 mill to blow. And if you have that, you're already set on money to begin with so why bother trying?

[Robb]

Nice post, that is what I'm trying to build up to with domaining and developping, having enough money coming in without my 'being there' all the time. There are times when I'm really sure it will happen, especially when I read something about the domain market, the potential of domains, and the bright future of the web. If I make it to that golden end great, in the meantime I'm really enjoying the journey and all the people involved.

[Omar]

Frank,

This is a great post. For me the last 15 years have truly flown by. I think the key is to make sure to have priorities set correctly. This can only come from a lot of self-reflection, experience and feedback.

One of the most enjoyable aspects of entrepreneurship for me is being able to create my own life. I can focus on the areas of my strengths and delegate to others the areas in which I'm not strong.

A common theme I see in successful domainers is the need to give back once they reach a certain level. I believe we'll continue to see this happen with the next generation of entrepreneurs in our industry.