Saturday Musings – Developing Strong Relationships

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I wanted to continue the series I’ve been writing about on what it means to conduct your life through principles. I hope you appreciate and value the openness of which I’m sharing and that you receive a benefit for your own life from reading these articles.

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The previous articles in the series can be accessed from the following links:
Three Vital Aspects of the Truth
How to Develop Trust
The Power in a Learning Mindset
It’s All About Character

In this article I would like to start exploring the relationships between the three underpinning principles. If you wish to build strong relationships with others, then there is no better way of doing it by conducting yourself under the guidance of the principles of truth and trust.

Strong Relationships

Too many people expect to have great marriages and wonderful relationships with their children while conducting themselves in a manner that is contrary to a positive outcome. The key that unlocks the power of truth and trust is consistency.

I remember many years ago I had a disaster in one of my businesses. I ended up leaving to go to work at 5am and getting home at around 9pm each night. Our son Timothy was around eight years old at the time and one of his chores was to set the table for dinner each night.We’d talk on the phone and he used to ask me if I’d be home for dinner. Of course, I told him, “Yes”. The reality was that I didn’t make it and was inevitably caught up in all the things at work. Eventually he learned and stopped asking me the question.

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What will you do if China has an economic meltdown?

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For a while now I’ve been concerned that due to China’s massive appetite for debt it was going to experience a severe correction. When you consider the debt levels in China, they absolutely dwarf the levels the USA experienced during the global financial crisis of 2008. So where is China at now and are the debt levels like an elastic band that is being stretched more and more?

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It’s estimated the total Chinese debt-to-GDP ratio has risen to 317 per cent at the end of 2017. Compared to 158% at the end of 2008 means this number is continuing to rapidly increase.

Chinese debt

In real terms this means the amount of debt in China grew to RMB 262.1tn at the end of 2017, representing a year-on-year grown of 13.5 per cent. Considering China’s nominal GDP growth was at 11.2 per cent yoy in 2017, the rate of credit grown continued to exceed the rate of nominal growth.

The International Monetary Fund (IMF) pointed out in 2016 that it took four units of debt to raise the GDP by one unit. A decade ago the ratio was 1.3 to one. It’s clear that China has a serious debt problem that could potentially drag the global economy down.

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mgilmour
I agree it's a question of when and not where. The Chinese government is trying to create a "soft landing" for the economy but giv... Read More
19 April 2018
mgilmour
The more concerning question I have is the impact a China meltdown will have on the US economy and the rest of the world. I know t... Read More
19 April 2018
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10 Ways to Sell More Domains

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Selling domains is close to the heart of most domain investors. They hear about the big sales being made and look at their own portfolio and wonder why many of the domains don’t get any offers let alone an offer to get them excited about paying off the mortgage. Here’s a list of ten ways that can help you increase your sales.

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1.  List your domains on all the marketplaces.
I know this seems a little obvious but so many investors forget to keep their domain listings up to date. Think of it like fishing, you can have one line in the water or ten lines. Each line will increase the chance of catching a fish. Whatever you do, list your domains in the two major marketplaces, Sedo and Afternic.

By listing your domains in the marketplaces you’re hoping to catch the eye of people that may be browsing for a domain in the aftermarket. With any luck an offer will be made, and a sale will result.

2.  Build Your Own Sales Page
A person that clicks on the typical “for sale” link will be directed into an existing marketplace for information about your domain. In the process, they may see someone else’s domain and end up putting an offer in on that one. Even though your domain delivered the traffic, you don’t get anything for the sale of the other domain.

The link at the top of a parked page that says “This domain may be for sale” should point to your own landing page. This page should say something about your domain plus links to related domains that are in your portfolio. This will encourage potential buyers to look at your domains rather than someone else’s.

3. Contact dn.biz
Dn.biz run a newsletter that goes out to thousands of buyers. They regularly look for good domains to feature, so you may as well reach out to them and see if any of yours can be listed.

4. Real Whois Information
Make sure you put real information in for your domain whois data. A lot of potential buyers do look up the whois for a domain and if it is privacy protected or has fake details then it will be impossible for them to contact you to make an offer. Think of the whois as just another line in the water.

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mgilmour
One of the most difficult things we can do as investors is to look at reality and then make sound decisions. If there aren't any o... Read More
16 April 2018
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Heading to the Land of the Rising Sun

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As is my tradition, I'm writing this blog while sitting in the Qantas club at Melbourne airport. Where am I off to this time? As the title of the blog suggests, I'm traveling to Tokyo, Japan.

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It's been a long time since I was last in Japan and I have many fond memories of the amazing country. Last time I was working with the Australian and New Zealand embassies in Tokyo and my wife and I discovered the wonders of Japanese food.

Prior to heading to Japan on my first trip I remember hating seafood......but I discovered that if you don't eat seafood in Japan then you'll basically starve to death. By the end of my trip I found the Japanese have an almost magical love affair with all things that grow in the sea and the way they cook them all up left my mothers style of boiling everything to until it was a soggy mash for dead. So yes, I'm looking forwrard to the food on this trip.

As you would expect, there is a lot of business to be conducted in Japan......and I've found it's largely virgin territory for many in the domain industry. Yes, there are some big domainers that make there home there but I've found there's still a LOT of opportunity.

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Do You Want to Make Some Money?

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How many times have you heard that question? Each day I’m approached by people trying to sell us poor quality traffic, wanting investments for a new venture or monetisation companies that want me to do a lot of work to integrate their system. The problem is….there are only so many hours in the day….

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One of the biggest challenges that I have is how to best rank the various opportunities that come across my plate at ParkLogic. Investment opportunities that don’t have any synergy with what else we are doing are easy to dismiss. The tough ones are those that tick all the boxes.

If we went after all of the great opportunities then we wouldn’t get anything done and worse than that, we’d miss the best opportunities. The question is, “How do we rank an opportunity?”

For me to invest any sort of cash the business must be unbelievably good. The reason for this is that I’m never short on ideas to invest my money into. For me to put my hand into my pocket and invest in someone else’s business means their opportunity beats anything that I could potentially come up with.

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