Saturday Musings - Timing is Everything

Saturday Musings - Timing is Everything

For the past week Melbourne has been it the grip of a heatwave that has been the biggest and most intense in about 100 years. The tennis players at the Australian Open have been collapsing and for the rest of us we really haven't had a good night sleep.....which tends to make us all a little grumpy. So when the cool change came and the temperature dropped by 20 degrees Celsius it was with a great relief that my head hit the pillow on Friday night.

The next morning was another matter altogether! I had one of those moments of panic that could only be fixed by me unobtrusively waking Roselyn. For all those husbands out there, unobtrusive and waking do not belong in the same sentence when it comes to wives. Lucky for me also had a good nice sleep, although cut a little short, so I began our conversation.

"Honey, when are we going to see Celtic women?"

For those of you who have been living under a bridge with a troll or have been trekking across Antarctica with a dog sled team, Celtic women is a group of Irish singers that have taken the world by storm for the past half decade. We'd booked tickets for the concert back in September but the tour was delayed to some later date, hence my question.

"I'm not really sure, sometime in Feb I think," my wonderfully coherent wife replied.

"Are you sure?"

"Not really but it's something like that."

If you've ever had a conversation in the morning with your partner that is something like the one I experienced then whatever you do nail down the facts because if you don't you'll regret it. Reaching across to the phone I dialed up the concert hall (yes it was late in the morning, nothing like a sleep in) and was told, "Lucky you called, it's tomorrow night."

More likely it was, lucky we had nothing else on tomorrow night, lucky the world hadn't ended and lucky we didn't stay home watching TV when we could've taken advantage of our hard earned money for tickets that we'd already purchased.

So what is the moral of this story. When you're gut tells you something then whatever you do listen to it or you may miss out! It's the same in domaining, if you don't keep tabs on all of those renewal dates, auction times, are my domains being monetised, are nameservers set correctly etc. then you're likely to lose assets, not earn revenue and miss great opportunities. If you're managing your domains by a spreadsheet I can almost guarantee that you're messing things up some how.....so whatever you do get someone to help you out so that they remind you that you're about to miss on a great concert if you don't make that phone call.

Have a great weekend!

1563 Hits
0 Comments

Business in 2014

Business in 2014

OK....so the photo is a very much younger (and thinner) version of me but let's face it....you weren't looking at me, you were looking at the gorgeous girl to my right that said "yes". After being married for over 26 years I find that my eyes are on her as well, her dreams, her aspirations and really what makes her tick.....which brings me, believe it or not, to business.

Keeping your eye on what's important in family life is just as important for your domain business. In 2014 ask yourself "what's really important?". I see too many people going about their lives never asking this simple question. They've fallen in love with their domain names and believe that they are the experts at monetisation, set unrealistic valuations and spend hours doing what I would call "busy work". At the end of the day they jump on a forum, moan about the down turn in the industry, how sales are tanking and get jealous because it seems to be working for everyone else.

The facts are, if you keep on doing the same thing and expect a different result then you're insane. Make this year the year where you focus on what's really important in your domain business......and that's profit! I hate to be boring on this issue but profit equals revenue less expenses.....

Too many domain owners have focused their attention on increasing their revenue line but completely ignore their expenses. For example, when was the last time you built a cashflow for your business and put in their some hourly rate that you are charging your business for your time??? Most domainers value their time at $0....which is completely insane.

Let's unpack this.....let's imagine that you are earning $1,000 per month from domain parking. Ask yourself, two questions. How much time do you spend working out whether you have the best solution for getting the most from your traffic? How much time do you spend on working out if a domain should be renewed or now? If you aren't spending any time on either of these two questions then I can almost guarantee that you're losing money!

Here's the thing.....your time IS MONEY. It's often better to pay someone else to lose sleep managing your domains so that you can working on another project. The challenge is to let go of your babies (ie. domains) and place them in the care of another trusted party. You'll free up your time and if they are doing their job correctly you'll end up with more revenue and more importantly more PROFIT.

So this brings me back to what I was saying at the beginning......in 2014 focus on what's important......PROFIT. Like my wife, this is what I think about in my various business endeavours.....always PROFIT. Please, oh please.....don't value your time at $0.

2375 Hits
0 Comments

Saturday Musings – A Great Industry!

Saturday Musings – A Great Industry!

I’ve always been a believer that the domain community is one of the most unique and precious features of our great industry. What other industry can you swap, sell and move assets around the world on the basis of a skype call? With this in mind I decided to do something that would hopefully support the community and encourage real human interactions where we not only can learn from each other but also about each other.

So this past week I set myself the task of building the social interface to whizzbangsblog. I must say that I’ve been pretty busy and working into the wee hours of the morning to get the site sorted out. I’ve received a LOT of feedback which has been fantastic and some of the ideas I’ve already implemented while others may take some time. I want to thank everyone for this assistance, thoughts and most especially for letting their friends know about whizzbangsblog.com

So what’s next? In a lot of ways that’s up to the community. There are a lot of tools now in place, some of which include:

Event management system

Groups

Photos and Videos

Blogging platform

What I hope happens is that each of us thinks of ways that we can contribute so that we can built a great knowledge base and strong relationships with other community members. So why not start a group, invite a friend or post a question to the community. Remember, there is no such thing as a stupid question……

I should also ask that you please excuse any bugs that crop up from time to time…..I will do my best to stamp them out.

Cheers!

2364 Hits
0 Comments