My Business Success!

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As many readers already know I’ve been relating my efforts of attracting birds to my yard to starting a new business. In the last article in the series I wrote about trying to develop a new market vertical for my burgeoning bird business. So how’s it going?

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Like any good entrepreneur I tried a number of different techniques to attract clients to my offering. Applying the marketing principles of product, price, placement and promotion I began testing the market and then evaluating the results.

My wife had given me some bird seed (ie. the product) for Christmas as a present and I scattered these liberally across the lawn and in the feeder. The result, pigeons. I have nothing against pigeons but they weren’t the market I was trying to reach and to be frank with you….they are complete pigs and ate all of the seeds.

This is similar to a new business taking a scatter gun approach to marketing to see if there are any bites on their product or service. More often than not, you get a lot of tyre kickers that talk a lot, don’t buy and waste your time.

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Wolftalker
Analogy good. And Lorikeets and Cockatoos - fab!
11 February 2018
mgilmour
I must admit that I'm having a great time watching the birds out my window..... :-)
12 February 2018
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What Are You Doing With Your Time?

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Time is often viewed as the ultimate commodity but is it? Other than our last day on this planet we all have exactly the same minutes in the day as each other. It’s my birthday today and I find myself thinking about what I’m doing with my allotted minutes and whether I’m doing the right things with them.

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Iin an interview at NamesCon I passed on a number of things that I do before and after the conference to maximise the use of my time. I have a mental image of it costing me about $100 per hour whether I’m asleep or awake to attend a conference. This means I’d better be very careful with how I allocate my time.

I like to have a mixture of meetings at an event like NamesCon. Some will be with existing partners and clients while others will be with people I’ve never met before and potential relationships. The goal is to have a meaningful conversation with each person and to make the best use of my time.

In the end I averaged 18 scheduled meetings each day and had countless other spontaneous discussions during the evening or walking up and down the lonnnnnggggg hallway. The conference was a huge success for my company, ParkLogic, with many more people coming onto the new Next platform.

This is great for a conference but what about now I’m back home? What do I do with my time and how do I keep a sense of balance?

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Rawgi
Happy late Birthday, Michael. Hope your day was a nice relaxing one. I would have added that you need some Me time with just you ... Read More
16 February 2018
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NamesCon 2017 Interview

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Eric Lyon from NamePros just sent through an interview that I did with Edward Zeiden at NamesCon 2017. It was great revisiting the 2017 interview to see what is still relevant in 2018 and whether any of the predictions came true.

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The video also reminded me that in 2018 domain investors need to continue to focus on the outcomes for their investments. Before you buy a domain you should already know which of the four primary business models will be providing the return.

Is the investment a stock item, high value domain, development opportunity or are you going to earn money from the traffic.

I should say that Edward interviewed me again in 2018 and I look forward to seeing that video....I'll post it hear as soon as it's finished being produced. Many thanks to the great NamePros team for all the work they are doing in creating a historical video archive of our great industry.

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Was NamesCon Worth All the Hype?

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NamesCon 2018 has ended, attendees are on their way home and the exhibit hall is now all packed up. So was the conference really worth it? Did it deliver for me what I was hoping it would? Most importantly will I fork out my hard-earned cash to journey across the Pacific to attend next year?

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NamesCon 2018 would have to have been the best conference I have attended in……well…..since NamesCon 2017. The attendance was about the same as 2017 but appeared a little lighter due to the number of meetings being held in suites. This brings up a really important point.

I judge conferences on not the number of attendees but whether the right people are in attendance. In this case, NamesCon really delivered as I found myself surrounded by people that I was wanting to catch-up with…..in fact, I ran out of time so my apologies to all those people that I didn’t manage to say "hi" to.

To give you an idea of my schedule, I had an average of 16+ scheduled meetings per day. This didn’t include the impromptu meetings you have at any of the parties, walking down the long hallway or just bumping into someone in the exhibit hall. The right people attended NamesCon and this meant a huge, and I really mean HUGE amount of business was getting done.

At any one time about half the attendees or more were huddled in meetings as they bought or sold domains, did other deals or developed closer relationships that can only be made face to face. The other half were in some excellent sessions as they gained a greater appreciation of just how flexible domains could be or how cryptocurrency and the blockchain will impact their businesses.

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Are Cryptocurrencies Doomed?

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This past week has seen a dramatic turn-around right across the board in the crypto-currency space. Literally billions of dollars have been slashed off the market value of many of the currencies and the once darlings of the media have quickly become pariahs.

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I watched a financial commentator on the local news speaking almost with glee on the dramatic fall from grace of Bitcoin and how cryptocurrencies were completely crazy. He then flashed up a few charts that reinforced his point that cryptocurrency investors were obviously bonkers.

I was chatting with my brother the other day and like the news commentator he also missed the single defining point about cryptocurrencies…..and that is, not all of them are created equal. Unlike fiat money which is essentially the same no matter whether its dollars, pounds, euros or whatever, cryptocurrencies can often have a business model that is attempting to solve a real-world problem.

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vanclute
Not to mention that everyone seems to be conveniently ignoring the fact that the market overall had regained more than half the "l... Read More
21 January 2018
kosap1
Worked out well for me. Bought more when they started to bottom out!
21 January 2018
vanclute
Jeff, between your Constant yet inconsistent Use Of Sentence Case, and your rampant ravings seemingly without basis, I just can't ... Read More
23 January 2018
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